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Name

As of 04/17/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

Hennessy Focus Fund

HFCSX | Fund

$41.28

$690 M

0.00%

$0.00

1.50%

Vitals

YTD Return

-4.6%

1 yr return

8.1%

3 Yr Avg Return

-1.0%

5 Yr Avg Return

6.3%

Net Assets

$690 M

Holdings in Top 10

63.4%

52 WEEK LOW AND HIGH

$41.5
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 1.50%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 4.00%

Redemption Fee N/A

Min Investment

Standard (Taxable)

$2,500

IRA

$250

Fund Classification

Fund Type

Open End Mutual Fund

Name

As of 04/17/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

Hennessy Focus Fund

HFCSX | Fund

$41.28

$690 M

0.00%

$0.00

1.50%

HFCSX - Profile

Distributions

  • YTD Total Return -4.6%
  • 3 Yr Annualized Total Return -1.0%
  • 5 Yr Annualized Total Return 6.3%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio -0.88%
DIVIDENDS
  • Dividend Yield 0.0%
  • Dividend Distribution Frequency Annual

Fund Details

  • Legal Name
    Hennessy Focus Fund
  • Fund Family Name
    Hennessy
  • Inception Date
    Oct 31, 2012
  • Shares Outstanding
    9041719
  • Share Class
    Investor
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    David Rainey

Fund Description

The Fund invests in (i) domestic companies whose securities are listed on U.S. national securities exchanges, (ii) foreign companies listed on U.S. national securities exchanges, (iii) foreign companies through American Depositary Receipts (“ADRs”), which are U.S. dollar-denominated securities of foreign issuers listed on U.S. national securities exchanges, and (iv) foreign companies traded on foreign exchanges. Investments consist primarily of common stocks. As a non-principal investment strategy, the Fund may also invest in securities such as preferred stocks, warrants, equity-like instruments, and debt instruments. The Fund invests without regard to market capitalization.
The Portfolio Managers implement the Fund’s strategy through a concentrated portfolio of approximately 25 companies that the Portfolio Managers believe are high-quality businesses with large growth opportunities, excellent management, low tail risk, and discount valuations. The Fund’s holdings are conviction-weighted with the top ten positions comprising approximately 60-80% of the Fund’s assets. Once a potential investment is identified, the Portfolio Managers attempt to purchase shares at a price they believe represents a discount to a conservative estimate of the company’s intrinsic value. Generally, the Portfolio Managers may sell a business for a variety of reasons, including (i) source of funds for what they believe is a superior investment idea, (ii) adverse change in their assessment of a business’s quality, growth, or management, (iii) valuation, or (iv) risk management at the company or portfolio level.
The Fund may from time to time hold a significant portion of its portfolio in cash or cash equivalents.  If market conditions reduce the availability of securities with acceptable valuations, the Fund may hold larger than usual cash reserves for extended periods until securities with acceptable valuations become available.
Read More

HFCSX - Performance

Return Ranking - Trailing

Period HFCSX Return Category Return Low Category Return High Rank in Category (%)
YTD -4.6% -16.7% 22.3% 96.90%
1 Yr 8.1% -12.4% 48.8% 91.94%
3 Yr -1.0%* -29.3% 78.7% 38.72%
5 Yr 6.3%* -4.9% 97.4% 83.73%
10 Yr 7.2%* -0.2% 36.4% 94.79%

* Annualized

Return Ranking - Calendar

Period HFCSX Return Category Return Low Category Return High Rank in Category (%)
2023 -4.2% -27.7% 68.0% 97.80%
2022 -34.6% -85.6% 350.1% 71.64%
2021 12.2% -77.0% 238.3% 15.15%
2020 -22.5% -44.1% 2474.5% 98.04%
2019 21.9% -50.2% 44.0% 68.75%

Total Return Ranking - Trailing

Period HFCSX Return Category Return Low Category Return High Rank in Category (%)
YTD -4.6% -16.7% 22.3% 96.90%
1 Yr 8.1% -12.4% 48.8% 91.94%
3 Yr -1.0%* -29.3% 78.7% 38.72%
5 Yr 6.3%* -4.9% 97.4% 83.73%
10 Yr 7.2%* -0.2% 36.4% 94.79%

* Annualized

Total Return Ranking - Calendar

Period HFCSX Return Category Return Low Category Return High Rank in Category (%)
2023 20.8% -26.1% 68.0% 47.62%
2022 -25.0% -67.0% 440.7% 30.76%
2021 31.5% -23.5% 342.2% 2.08%
2020 5.5% 2.6% 2549.1% 98.43%
2019 34.9% 14.6% 44.8% 41.73%

NAV & Total Return History

HFCSX - Holdings

Concentration Analysis

HFCSX Category Low Category High HFCSX % Rank
Net Assets 690 M 2.73 M 100 B 62.04%
Number of Holdings 26 25 3644 98.91%
Net Assets in Top 10 422 M 449 K 9.69 B 38.14%
Weighting of Top 10 63.40% 0.4% 99.9% 5.11%

Top 10 Holdings

  1. Markel Group Inc 7.17%
  2. Encore Capital Group Inc 7.01%
  3. Ashtead Group PLC 6.96%
  4. Brookfield Corp 6.96%
  5. O'Reilly Automotive Inc 6.58%
  6. American Tower Corp 6.30%
  7. Aon PLC 6.12%
  8. CarMax Inc 6.05%
  9. Cogent Communications Holdings Inc 5.36%
  10. CDW Corp/DE 4.90%

Asset Allocation

Weighting Return Low Return High HFCSX % Rank
Stocks 		97.08% 0.92% 101.49% 72.26%
Cash 		2.96% 0.00% 99.08% 27.92%
Preferred Stocks 		0.00% 0.00% 5.46% 71.17%
Other 		0.00% -0.18% 16.96% 77.55%
Convertible Bonds 		0.00% 0.00% 0.40% 65.69%
Bonds 		0.00% -3.27% 1.87% 67.70%

Stock Sector Breakdown

Weighting Return Low Return High HFCSX % Rank
Financial Services 		43.01% 0.00% 43.01% 0.36%
Consumer Cyclical 		26.67% 0.00% 57.41% 1.09%
Real Estate 		10.39% 0.00% 19.28% 2.92%
Technology 		9.98% 0.04% 62.17% 96.53%
Industrials 		8.69% 0.00% 38.23% 87.41%
Communication Services 		1.26% 0.00% 18.33% 73.18%
Utilities 		0.00% 0.00% 12.94% 75.36%
Healthcare 		0.00% 0.00% 37.06% 98.91%
Energy 		0.00% 0.00% 62.10% 87.59%
Consumer Defense 		0.00% 0.00% 16.40% 95.26%
Basic Materials 		0.00% 0.00% 17.25% 91.97%

Stock Geographic Breakdown

Weighting Return Low Return High HFCSX % Rank
US 		89.16% 0.64% 101.49% 94.53%
Non US 		7.92% 0.00% 34.57% 5.11%

HFCSX - Expenses

Operational Fees

HFCSX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.50% 0.02% 17.54% 24.95%
Management Fee 0.90% 0.00% 1.50% 85.74%
12b-1 Fee 0.15% 0.00% 1.00% 26.97%
Administrative Fee N/A 0.00% 0.40% 63.04%

Sales Fees

HFCSX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 3.00% 5.75% N/A
Deferred Load N/A 1.00% 5.00% N/A

Trading Fees

HFCSX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 1.00% 2.00% N/A

Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

HFCSX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 4.00% 0.00% 250.31% 4.86%

HFCSX - Distributions

Dividend Yield Analysis

HFCSX Category Low Category High HFCSX % Rank
Dividend Yield 0.00% 0.00% 34.32% 73.91%

Dividend Distribution Analysis

HFCSX Category Low Category High Category Mod
Dividend Distribution Frequency Annual Annually Annual Annual

Net Income Ratio Analysis

HFCSX Category Low Category High HFCSX % Rank
Net Income Ratio -0.88% -2.24% 2.75% 73.89%

Capital Gain Distribution Analysis

HFCSX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Annually Annually

Distributions History

View More +

HFCSX - Fund Manager Analysis

Managers

David Rainey

Start Date

Tenure

Tenure Rank

Aug 22, 2009

12.78

12.8%

David Rainey co-founded Broad Run Investment Management, LLC in 2012. Prior to that, Mr. Rainey served as a Portfolio Manager at FBR Asset Management (“FBR”), which he joined in 2009. Prior to joining FBR, Mr. Rainey was with Akre Capital Management (“ACM”) since 1998. During his time at ACM, he served in various roles including Senior Research Analyst, Separate Account co-Portfolio Manager, and CCO. Prior to joining ACM, Mr. Rainey held investment and analysis positions with the Federal National Mortgage Association (“Fannie Mae”), the Student Loan Marketing Association (“Sallie Mae”) and with Wheat First Securities. Mr. Rainey holds a BS in Commerce from the University of Virginia and an MBA from Duke University.

Ira Rothberg

Start Date

Tenure

Tenure Rank

Aug 22, 2009

12.78

12.8%

Ira Rothberg co-founded Broad Run Investment Management, LLC in 2012. Prior to that, Mr. Rothberg served as a Portfolio Manager at FBR Asset Management (“FBR”), which he joined in 2009. Prior to joining FBR, Mr. Rothberg served as an Analyst at Akre Capital Management (“ACM”), which he joined in November 2004. Prior to joining ACM, Mr. Rothberg was an Analyst at Ramsey Asset Management. Mr. Rothberg holds a BS in Finance and Accounting and a BA in Economics from the University of Maryland.

Brian Macauley

Start Date

Tenure

Tenure Rank

Aug 22, 2009

12.78

12.8%

Brian Macauley co-founded Broad Run Investment Management, LLC in 2012. Prior to that, Mr. Macauley served as a Portfolio Manager at FBR Asset Management (“FBR”), which he joined in 2009. Prior to joining FBR, Mr. Macauley served as an Analyst at Akre Capital Management (“ACM”), which he joined in May 2003. Prior to joining ACM, Mr. Macauley held research analyst positions with Credit Suisse First Boston and Wheat First Union. Mr. Macauley holds a BS in Commerce from the University of Virginia.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.04 36.3 9.2 2.25

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