HNNA

SEC Filing Summary: Form 13F Information Table

Business Context and Reporting Period

Company: Hennessy Advisors Inc.
Filing Type: Form 13F Information Table
Reporting Period: Quarter ended June 30, 2018
Context: This filing discloses the equity securities held by Hennessy Advisors Inc. as a registered investment manager. The table lists individual holdings, share counts, and voting authority for the period.

Key Financial Metrics and Portfolio Composition

Revenue, Profit, and Cash Flow: The filing text does not provide a clear value for Hennessy Advisors' own revenue, profit, cash flow, or margins. Form 13F filings report portfolio holdings, not the manager's financial performance.
Debt and Liquidity: The filing text does not provide a clear value for the manager's debt or liquidity position.
Portfolio Metrics: The filing lists approximately 200 individual equity positions. All reported positions are classified as "Sole" voting authority. No put or call options are reported in the provided text.

Material Changes and Portfolio Highlights

Comparison to Prior Period: The filing text does not provide a clear value for changes versus the prior comparable period (Q1 2018) as this specific document only contains the snapshot for Q2 2018.
Top Holdings by Value (Selected):

• Enbridge Inc: 1,578,765 shares ($56,346,000)
• Kinder Morgan Inc: 2,879,101 shares ($50,874,000)
• TransCanada Corp: 1,187,853 shares ($51,315,000)
• Nisource Inc: 1,222,781 shares ($32,135,000)
• PG&E Corp: 732,449 shares ($31,173,000)
• Boise Cascade Co: 935,100 shares ($41,799,000)
• Builders FirstSource Inc: 1,762,400 shares ($32,234,000)

Sector Exposure: The portfolio shows significant concentration in Utilities (e.g., Enbridge, Kinder Morgan, TransCanada, PG&E, Nisource) and Financials (e.g., Banc of California, BankUnited, Brookline Bancorp).

Guidance, Outlook, and Risks

Management Commentary: The filing text does not provide a clear value for management commentary, guidance, or outlook.
Risks and Contingencies: The filing includes a standard SEC disclaimer stating that the Commission has not reviewed the information for accuracy or completeness. No specific risk factors or contingencies regarding the portfolio are detailed in this table.

Key Facts for Investor Verification

• Manager Identity: Verify that Hennessy Advisors Inc. is the registered investment manager for the disclosed accounts.
• Valuation Accuracy: Confirm the "Value" column (in thousands) aligns with market prices as of June 30, 2018, for the reported share counts.
• Voting Authority: Note that the manager claims "Sole" voting authority for all listed positions, indicating full control over voting decisions for these shares.
• Portfolio Concentration: Verify the heavy weighting in utility and energy infrastructure stocks, which may indicate a specific investment strategy focused on dividends or regulated assets.
• Missing Data: Acknowledge that this document does not contain the firm's own financial health (revenue, debt, cash flow) or performance metrics.