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Name

As of 12/23/2024

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 Midstream Fund

HMSFX | Fund

$12.57

$59.7 M

8.25%

$1.03

2.03%

Vitals

YTD Return

34.8%

1 yr return

35.2%

3 Yr Avg Return

29.8%

5 Yr Avg Return

14.8%

Net Assets

$59.7 M

Holdings in Top 10

82.1%

52 WEEK LOW AND HIGH

$12.5
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 2.03%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 40.00%

Redemption Fee N/A

Min Investment

Standard (Taxable)

$2,500

IRA

$250

Fund Classification

Fund Type

Open End Mutual Fund

Name

As of 12/23/2024

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 Midstream Fund

HMSFX | Fund

$12.57

$59.7 M

8.25%

$1.03

2.03%

HMSFX - Profile

Distributions

  • YTD Total Return 34.8%
  • 3 Yr Annualized Total Return 29.8%
  • 5 Yr Annualized Total Return 14.8%
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio -0.91%
DIVIDENDS
  • Dividend Yield 8.3%
  • Dividend Distribution Frequency Quarterly

Fund Details

  • Legal Name
    Hennessy Midstream Fund
  • Fund Family Name
    Hennessy Funds Trust
  • Inception Date
    Dec 31, 2013
  • Shares Outstanding
    1047496
  • Share Class
    Investor
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Benton Cook

Fund Description

The Fund invests in companies whose securities are listed on U.S. national securities exchanges, including through American Depositary Receipts (“ADRs”), which are U.S. dollar-denominated securities of foreign issuers listed on U.S. national securities exchanges. Investments consist primarily of master limited partnerships (“MLPs”) and 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. With respect to up to 10% of its total assets, the Fund may invest in high-yield debt securities, preferred shares, and convertible securities (commonly referred to as “junk securities”). The Fund invests without regard to market capitalization.
Under normal circumstances, the Fund invests at least 80% of its net assets in midstream energy infrastructure companies. An issuer is considered to be a midstream energy infrastructure
company if it owns and operates assets used in energy logistics, including, without limitation, assets used in transporting, storing, gathering, processing, distributing, or marketing of natural gas, natural gas liquids, crude oil, refined products, coal, or electricity, or provides energy-related equipment and services.
In selecting investments for the Fund, the Portfolio Managers combine a top-down deductive reasoning approach with a detailed bottom-up analysis of individual companies that have exposure to the trends identified. The Portfolio Managers may sell all or a portion of a position of the Fund’s portfolio holding for a number of reasons, including (1) the issuer’s fundamentals deteriorating, (2) the parameters established for the security’s profits or losses being realized, or (3) the Fund requiring cash to meet redemption requests.
The Fund is non-diversified under the Investment Company Act and under Subchapter M of the Internal Revenue Code (the “Code”). Accordingly, the Fund typically invests a greater portion of its assets, and its performance may be affected by, a smaller number of issuers than if it were a diversified fund. In addition, as a “C” corporation, the Fund generally will be subject to U.S. federal income tax on its taxable income at the tax rate applicable to corporations (currently 21%), will not benefit from current favorable federal income tax rates on long-term capital gains, and will be subject to state and local income taxes by reason of its investments in equity securities of MLPs.
Read More

HMSFX - Performance

Return Ranking - Trailing

Period HMSFX Return Category Return Low Category Return High Rank in Category (%)
YTD 34.8% 8.9% 49.5% 55.45%
1 Yr 35.2% 9.6% 49.7% 56.44%
3 Yr 29.8%* 8.7% 38.7% 18.56%
5 Yr 14.8%* -2.0% 40.9% 56.25%
10 Yr N/A* -4.1% 13.5% N/A

* Annualized

Return Ranking - Calendar

Period HMSFX Return Category Return Low Category Return High Rank in Category (%)
2023 11.1% -14.9% 18.2% 28.43%
2022 15.6% -7.0% 29.9% 44.90%
2021 19.6% 4.2% 42.7% 85.71%
2020 -40.4% -57.4% 155.1% 87.63%
2019 2.2% -8.9% 18.9% 54.02%

Total Return Ranking - Trailing

Period HMSFX Return Category Return Low Category Return High Rank in Category (%)
YTD 34.8% 8.9% 49.5% 55.45%
1 Yr 35.2% 9.6% 49.7% 56.44%
3 Yr 29.8%* 8.7% 38.7% 18.56%
5 Yr 14.8%* -2.0% 40.9% 56.25%
10 Yr N/A* -4.1% 13.5% N/A

* Annualized

Total Return Ranking - Calendar

Period HMSFX Return Category Return Low Category Return High Rank in Category (%)
2023 23.4% -9.3% 25.5% 7.84%
2022 28.8% -1.2% 38.8% 26.53%
2021 35.9% 14.5% 56.2% 83.67%
2020 -31.3% -53.9% 155.1% 86.60%
2019 11.8% -3.4% 22.4% 50.57%

NAV & Total Return History

HMSFX - Holdings

Concentration Analysis

HMSFX Category Low Category High HMSFX % Rank
Net Assets 59.7 M 22 M 53.1 B 94.44%
Number of Holdings 17 17 91 99.02%
Net Assets in Top 10 55.2 M 26.7 M 3.63 B 91.18%
Weighting of Top 10 82.14% 40.8% 116.1% 27.45%

Top 10 Holdings

  1. Energy Transfer LP 13.81%
  2. Plains All American Pipeline LP 11.38%
  3. Enterprise Products Partners LP 11.14%
  4. MPLX LP 9.96%
  5. ONEOK Inc 7.29%
  6. Antero Midstream Corp 7.21%
  7. Western Midstream Partners LP 7.16%
  8. Williams Cos Inc/The 5.72%
  9. First American Government Obligations Fund 4.28%
  10. EQT Corp 4.18%

Asset Allocation

Weighting Return Low Return High HMSFX % Rank
Stocks 		98.03% 53.33% 136.34% 68.63%
Cash 		4.28% 0.00% 13.09% 2.94%
Preferred Stocks 		0.00% 0.00% 2.23% 11.76%
Other 		0.00% -36.30% 5.12% 15.69%
Convertible Bonds 		0.00% 0.00% 5.29% 9.80%
Bonds 		0.00% 0.00% 40.73% 11.76%

Stock Sector Breakdown

Weighting Return Low Return High HMSFX % Rank
Energy 		100.00% 53.73% 100.00% 0.98%
Utilities 		0.00% 0.00% 41.78% 76.47%
Technology 		0.00% 0.00% 2.43% 32.35%
Real Estate 		0.00% 0.00% 0.00% 5.88%
Industrials 		0.00% 0.00% 4.54% 36.27%
Healthcare 		0.00% 0.00% 0.00% 5.88%
Financial Services 		0.00% 0.00% 0.66% 10.78%
Communication Services 		0.00% 0.00% 0.00% 5.88%
Consumer Defense 		0.00% 0.00% 0.82% 10.78%
Consumer Cyclical 		0.00% 0.00% 1.07% 17.65%
Basic Materials 		0.00% 0.00% 6.40% 50.98%

Stock Geographic Breakdown

Weighting Return Low Return High HMSFX % Rank
US 		98.03% 48.92% 136.34% 41.18%
Non US 		0.00% 0.00% 39.30% 57.84%

HMSFX - Expenses

Operational Fees

HMSFX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 2.03% 0.35% 8.81% 52.48%
Management Fee 1.10% 0.35% 1.38% 72.22%
12b-1 Fee 0.15% 0.00% 1.00% 17.24%
Administrative Fee N/A 0.04% 0.15% N/A

Sales Fees

HMSFX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 4.50% 5.75% 25.00%
Deferred Load N/A 1.00% 1.00% N/A

Trading Fees

HMSFX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A N/A N/A 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.

HMSFX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 40.00% 6.00% 166.00% 53.13%

HMSFX - Distributions

Dividend Yield Analysis

HMSFX Category Low Category High HMSFX % Rank
Dividend Yield 8.25% 0.00% 15.34% 9.26%

Dividend Distribution Analysis

HMSFX Category Low Category High Category Mod
Dividend Distribution Frequency Quarterly Annual Monthly Quarterly

Net Income Ratio Analysis

HMSFX Category Low Category High HMSFX % Rank
Net Income Ratio -0.91% -2.83% 5.84% 80.20%

Capital Gain Distribution Analysis

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

Distributions History

View More +

HMSFX - Fund Manager Analysis

Managers

Benton Cook

Start Date

Tenure

Tenure Rank

Jun 13, 2017

4.97

5.0%

Benton Cook, CFA, Portfolio Manager, joined BP Capital Fund Advisors in June 2017, where he serves as a member of the Investment Committee. Prior to joining the team, Mr. Cook was a Portfolio Manager with Mariner Investment Group (2016 – 2017), and before that he was a Portfolio Manager with A.G. Hill Partners (2009 – 2015) and Opsis Capital Management (2005 -2009). Mr. Cook previously held positions as a Senior Analyst with Carlson Capital and as an Equity Research Analyst with Raymond James. Mr. Cook has an MBA in Finance from the University of Texas at Austin and a BA in Economics from Johns Hopkins University. He is also a CFA charter holder and member of the Chartered Financial Analyst Institute.

L. Wein

Start Date

Tenure

Tenure Rank

Jan 31, 2022

0.33

0.3%

Wein joined the Investment Manager in September 2018 until February 2019.Josh previously joined BB&T Asset Management in 2008 and Sterling Capital Management through merger in October 2010. He has investment experience since 1995. Josh is an investment analyst with Sterling's Advisory Solutions team with a focus on alternative investments. Prior to joining BB&T, he worked as a Managing Member of Bellator Capital Partners, a long/short equity fund focused primarily on small and mid-cap equities. He also worked as an Equity Research Associate covering enterprise software companies at First Union Securities. Josh is a graduate of Emory University where he received his BBA in Finance. He received his MBA from Vanderbilt University. He is a CAIA charterholder.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.08 15.78 7.75 12.18

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