SEC Filing Summary: Form 13F Information Table
Business Context and Reporting Period
Company: Hennessy Advisors Inc.
Filing Type: Form 13F Information Table (Schedule of Holdings)
Reporting Period: Quarter ended September 30, 2021
Context: This filing discloses the equity securities held by the investment manager at the end of the quarter. It does not contain financial statements regarding Hennessy Advisors' own revenue, profit, or cash flow.
Key Financial Metrics and Portfolio Composition
Portfolio Overview: The filing lists 200+ individual equity positions. The total aggregate value of the reported securities is not explicitly summed in the text, but individual position values are provided in thousands of dollars.
- Top Holdings by Value (Selected):
- PG&E Corp: $15,021,000 (1,564,649 shares)
- Kinder Morgan Inc: $25,214,000 (1,507,101 shares)
- CenterPoint Energy Inc: $15,833,000 (643,628 shares)
- Enbridge Inc: $25,144,000 (631,765 shares)
- Nisource Inc: $14,358,000 (592,581 shares)
- Cheniere Energy Inc: $25,611,000 (262,217 shares)
- Atmos Energy Corp: $25,162,000 (285,286 shares)
- Southern Co: $24,924,000 (402,200 shares)
- Sempra: $24,913,000 (196,940 shares)
- WEC Energy Group Inc: $24,876,000 (282,040 shares)
- Investment Authority: All listed positions are reported with "Sole" voting authority.
- Derivatives: No Put or Call options are reported in the "PRN AMT" columns for the listed securities.
Material Changes and Sector Focus
Comparative Data: The filing text does not provide data for the prior comparable period (June 30, 2021); therefore, material changes in holdings cannot be calculated from this document alone.
Sector Concentration: The portfolio exhibits a heavy concentration in the Utilities and Energy sectors. Significant holdings include regulated utilities (e.g., PG&E, CenterPoint, Southern Co, WEC Energy) and energy infrastructure (e.g., Kinder Morgan, Enbridge, Cheniere, Atmos Energy).
Guidance, Outlook, and Risks
Management Commentary: Form 13F filings are statutory disclosures of holdings and do not contain management commentary, forward-looking guidance, or strategic outlooks.
Risks and Contingencies: The filing includes a standard SEC disclaimer stating that the Commission has not reviewed the information for accuracy. No specific contingencies or risk factors are detailed in this table.
Investor Verification Checklist
- Total Portfolio Value: Verify the aggregate market value of all holdings by summing the "VALUE" column, as the total is not explicitly stated in the text.
- Turnover Analysis: Compare this list against the Q2 2021 13F filing to identify new entries and exits, particularly in the utility and energy sectors.
- Concentration Risk: Assess the percentage of the total portfolio represented by the top 10 utility/energy holdings to evaluate sector concentration risk.
- Share Counts: Confirm the share counts for high-volume positions (e.g., Kinder Morgan, PG&E) against public ownership records to ensure accuracy.