SEC Filing Summary: Form 13F-HR
Business Context and Reporting Period
This filing is a Form 13F Holdings Report submitted by Hennessy Advisors, Inc., an institutional investment manager. The report covers the calendar quarter ended June 30, 2003, and was signed on July 21, 2003, by Teresa M. Nilsen, Executive Vice President and Chief Financial Officer. The report details the equity securities held by the manager with sole investment discretion.
Key Financial Metrics
As this is a portfolio disclosure filing rather than a corporate earnings report, Hennessy Advisors does not report its own revenue, profit, or cash flow. The filing provides the following aggregate portfolio metrics:
- Total Portfolio Value: $643,654,000 (reported in thousands).
- Total Number of Holdings: 111 securities.
- Investment Discretion: Sole discretion for all reported positions.
- Top Holdings by Value:
- Flagstar Bancorp Inc: $22,795,000
- Pacificare Health Sys: $18,060,000
- Avid Technology Inc: $16,626,000
- Select Comfort Corp: $15,043,000
- Aetna Inc: $14,448,000
Material Changes and Portfolio Composition
The filing text does not provide comparative data against the prior quarter (March 31, 2003) to quantify material changes in holdings or value. However, the portfolio composition indicates a diversified mix of sectors including financials, healthcare, technology, consumer discretionary, and industrials. Notable large-cap positions include General Electric, Coca-Cola, and Exxon Mobil, though these represent smaller percentage allocations compared to the top mid-cap holdings.
Guidance, Outlook, and Risks
Form 13F filings are historical disclosures of holdings and do not contain management guidance, forward-looking outlooks, or specific risk factor disclosures regarding the manager's operations. The filing includes a standard representation that the information is true, correct, and complete.
Investor Verification Checklist
- Verify the total portfolio value of $643.7 million against the manager's total assets under management (AUM) to determine if this report represents the entire firm or a specific fund.
- Confirm the concentration risk by analyzing the top 10 holdings, which collectively represent a significant portion of the reported value.
- Review the "Sole" voting authority designation to confirm the manager's control over corporate governance for these positions.
- Check subsequent filings (e.g., for the quarter ended September 30, 2003) to track turnover and changes in the top holdings listed here.