SEC Filing Summary: Form 13F Information Table
Business Context and Reporting Period
Company: Hennessy Advisors Inc.
Filing Type: Form 13F Information Table (Quarterly Report of Holdings)
Reporting Period: December 31, 2018
Context: This filing discloses the equity securities held by the investment manager at the end of the fourth quarter of 2018. It details the number of shares, value, and voting authority for each position.
Key Financial Metrics
Revenue, Profit, Cash Flow, Margins, Debt, Liquidity: The filing text does not provide a clear value for these metrics. Form 13F is a disclosure of portfolio holdings and does not contain the investment manager's internal financial statements, income, or balance sheet data.
Portfolio Composition: The portfolio consists of a diversified list of common stocks across various sectors, including Utilities, Energy, Financials, Healthcare, and Consumer Discretionary. All listed positions indicate "Sole" voting authority.
Material Changes Versus Prior Period
Comparison Data: The filing text does not provide a clear value for changes versus the prior comparable period. This document lists holdings as of the reporting date only and does not include a comparative table for the previous quarter (September 30, 2018) or year-over-year data.
Guidance, Outlook, and Risks
Management Commentary: The filing text does not provide a clear value for guidance, outlook, or management commentary. Form 13F is a regulatory data table and does not include narrative sections regarding future strategy or market views.
Risks and Contingencies: No specific risks or contingencies are detailed in the text. The filing includes a standard disclaimer that the SEC has not reviewed the information for accuracy or completeness.
Important Facts for Investor Verification
- Top Holdings by Value: The largest positions by reported value (Column 4) include Kinder Morgan Inc ($41,435,000), Dominion Energy Inc ($40,753,000), Enbridge Inc ($42,603,000), and Southern Co ($42,128,000).
- Sector Concentration: The portfolio shows significant exposure to the Utilities and Energy sectors, with large holdings in companies like CenterPoint Energy, CMS Energy, and Equitrans Midstream.
- Voting Authority: Hennessy Advisors Inc. reports "Sole" voting authority for all listed securities, indicating full control over voting decisions for these shares.
- Derivatives: The "Put/Call" column is blank for all entries, indicating no reported short positions or derivative contracts in this specific table.
- Data Limitations: Investors should note that this filing reflects holdings at a single point in time (Dec 31, 2018) and does not reflect trading activity or performance during the quarter.