SEC Filing Summary: Hennessy Advisors Inc. (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 based in Novato, California. The report covers the calendar quarter ended June 30, 2009. The filing was signed by Teresa M. Nilsen, Executive Vice President and Chief Financial Officer, on July 21, 2009. The report represents all holdings of the manager, with no other included managers.
Key Financial Metrics
As a Form 13F filing, this document reports equity holdings rather than the operating financials (revenue, profit, cash flow) of the investment manager itself. The following metrics reflect the portfolio under management:
- Total Portfolio Value: $618,149,000 (reported in thousands).
- Total Number of Holdings: 220 distinct equity positions.
- Investment Discretion: Sole discretion for all reported positions.
- Voting Authority: Sole voting authority for all reported positions.
- Top Holdings by Value:
- Tetra Tech Inc: $13,549,000
- Stifel Financial Corp: $12,426,000
- Corinthian Colleges Inc: $12,196,000
- Panera Bread Co: $10,909,000
- Odyssey Re Holdings Corp: $10,763,000
Material Changes and Portfolio Composition
The filing text does not provide comparative data against the prior quarter (March 31, 2009); therefore, specific material changes in holdings volume or value cannot be calculated from this document alone. The portfolio is diversified across multiple sectors, with significant exposure to:
- Consumer Discretionary: Holdings include AutoZone, Carter's, Ross Stores, and Panera Bread.
- Healthcare: Significant positions in Pfizer, Merck, Tenet Healthcare, and SXC Health Solutions.
- Financials: Holdings include Bank of America, J.P. Morgan Chase, and Morgan Stanley.
- Energy and Materials: Positions in Chevron, Exxon Mobil, Alcoa, and Dow Chemical.
Guidance, Outlook, and Risks
Form 13F filings are statutory disclosures of holdings and do not contain management commentary, forward-looking guidance, or risk factors regarding the investment manager's operations. The filing indicates no unusual items or contingencies within the scope of the form. All reported securities are common stock (COM) or American Depositary Receipts (ADR), with no reported put or call options.
Investor Verification Checklist
- Verify the total portfolio value of $618.1 million against the firm's total assets under management (AUM) to determine if this represents the entire firm or a specific fund.
- Confirm the concentration risk by analyzing the top 10 holdings, which represent a significant portion of the reported value.
- Review the specific sector allocations to ensure alignment with the firm's stated investment strategy (e.g., value, growth, or dividend focus).
- Note that the filing date (July 21, 2009) is within the standard 45-day window following the quarter-end, indicating timely compliance.
- Check for any subsequent amendments to this filing that may have updated the holdings list.