Building a business with integrity.

We've built a strong line-up of funds, all with one thing in common: to meet the needs of our shareholders, always managed in their best interest.

About Hennessy Funds

We offer high-conviction strategies that can play a role in nearly every investor's portfolio.

Company Overview

  • Company Founded

    1989

  • Assets Under Management

    $4.8 Billion

  • Number of Funds

    17

Hennessy Funds offers a broad range of funds, including exchange traded funds (ETFs) and mutual funds in these categories; traditional equity, specialty, and sector funds, as well as more conservative multi-asset products. Our goal is to provide products that investors can have confidence in, knowing their money is invested as promised, with their best interest in mind.

Markets can be volatile. Media headlines may trumpet doom one day, rosy outcomes the next. In both turbulent and steady times, we stick to our time-tested strategies, and we focus on long-term results. Our team of tenured managers has the skill, experience, and confidence needed to build and maintain high-conviction portfolios through all types of market conditions.

We believe it’s critical for our shareholders to fully understand the strategies, risks, and costs of investing, as well as the potential rewards. That’s how successful long-term partnerships are built.

“Our founding principle of ‘Shareholders First’ still guides us each day.”
Teresa Nilsen, Executive Vice President

Our History

Hennessy Advisors, Inc., the investment advisor to the Hennessy Funds, was founded in 1989 in the San Francisco Bay Area by Neil J. Hennessy, who had been a successful stockbroker, branch, regional, and divisional manager for Paine Webber. He named the company in honor of his father, Edward J. Hennessy, who had also been a successful stockbroker. Neil believed that his father embodied the ideals that would make his business successful.

Hennessy Advisors was founded on the principles of treating customers honestly and ethically, building strong partnerships, and managing money for the sole benefit of shareholders, and those same principles guide us today, over 30 years later.

The firm became an SEC-registered investment advisor in 1990 and later expanded to managing open-end mutual funds. Our first fund, the Hennessy Balanced Fund, opened in 1996, followed soon thereafter by the Hennessy Total Return Fund in 1998.

Following twelve successful, strategic acquisitions, the Hennessy family of products now includes exchange traded funds (ETFs) and mutual funds covering domestic equity, multi-asset, sector, and specialty categories.

Hennessy Funds is headquartered in Novato, CA, and maintains offices in Boston, MA, Chapel Hill, NC, Austin, TX, and Dallas, TX.

  • 1989
    Neil Hennessy founds the firm
  • 1990
    Registered as an Investment Advisor
  • 1996
    Launched the first mutual fund, the Hennessy Balanced Fund
  • 1998
    Launched the second mutual fund, the Hennessy Total Return Fund.
  • 2000
    Acquired the Cornerstone Value and Cornerstone Growth Funds
  • 2003
    Acquired the SYM Select Growth Fund to launch the Hennessy Cornerstone Mid Cap 30 Fund
  • 2004
    Acquired the Linder Funds and merged five funds into existing Hennessy Funds
  • 2005
    Acquired the Henlopen Fund to launch the Hennessy Cornerstone Growth Fund, Series II (which subsequently merged into the Hennessy Cornertone Growth Fund)
  • 2009
    Acquired two Tamarack Funds, one of which launched the Hennessy Cornerstone Large Growth Fund and the second of which was later merged into the Hennessy Cornerstone Value Fund
  • Acquired the SPARX Japan Fund and the SPARX Japan Smaller Companies Fund and renamed them the Hennessy Japan Fund and the Hennessy Japan Small Cap Fund
  • 2012
    Acquired the FBR Funds, merged three funds into existing Hennessy Funds and added the following seven funds: Hennessy Focus Fund, Hennessy Gas Utility Fund, Hennessy Small Cap Financial Fund, Hennessy Large Cap Financial Fund, Hennessy Technology Fund, Hennessy Equity and Income Fund, and Hennessy Core Bond Fund (later liquidated)
  • 2016
    Acquired the two Westport Funds, which were merged into the Hennessy Cornerstone Mid Cap 30 Fund
  • 2017-18
    Acquired three Rainier Funds and merged two of those funds into the Hennessy Cornerstone Mid Cap 30 Fund and one into the Hennessy Cornerstone Large Growth Fund
  • 2018
    Acquired the BP Capital TwinLine Energy Fund and the BP Capital TwinLine MLP Fund to launch the Hennessy BP Energy Transition Fund and the Hennessy BP Midstream Fund
  • 2022
    Acquired the Stance Equity ESG Large Cap Core ETF to launch the Hennessy Stance ESG Large Cap ETF
  • 2023
    Acquired the CCM Small/Mid-Cap Impact Value Fund and merged it into the Hennessy Stance ESG ETF
  • 2024
    Acquired the CCM Core Impact Equity Fund and merged it into the Hennessy Stance ESG ETF

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Hennessy Funds
7250 Redwood Boulevard, Suite 200
 Novato, CA 94945
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The Funds' investment objectives, risks, charges, and expenses must be considered carefully before investing. The prospectus contains this and other important information about the investment company. Please read it carefully before investing. A hard copy of the prospectus can be requested by calling 1-800-966-4354.

Performance data quoted represents past performance; past performance does not guarantee future results. The investment return and principal value of an investment will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost. Current performance of the Fund may be lower or higher than the performance quoted and can be found here. Performance data current to the most recent month end may be obtained from HennessyFunds.com Hennessy Funds Standardized Performance

Neither forward earnings nor earnings growth is a measure of a fund’s future performance.

Mutual fund investing involves risk. Principal loss is possible. Current and future holdings are subject to risk. Small and medium-sized companies may have more limited liquidity and greater price volatility than larger companies. Investments in foreign securities may involve political, economic, and currency risks, greater volatility, and differences in accounting methods. The Focus, Total Return, Balanced, Large Cap Financial, Small Cap Financial, and Midstream Funds are considered non-diversified funds. A non-diversified fund, which may concentrate its assets in fewer individual holdings than a diversified fund, is more exposed to individual stock volatility than a diversified fund. A fund that concentrates its investments within one country, one sector, or a small group of industries, such as Japan, Technology, Financials, or Energy, may be subject to a higher degree of market risk. Investments in debt securities typically decrease in value when interest rates rise. The risk is greater for longer-term debt securities. Investments in lower-rated and non-rated securities present a greater risk of loss to principal and interest than higher-rated securities. Mortgage- and asset-backed securities are subject to prepayment risk, which is the risk that the borrower will prepay some or all of the principal owed to the issuer. Funds that invest in pooled investment vehicles (including ETFs) may experience higher fees. The formula-based strategy employed by some Funds may cause those Funds to buy or sell securities at times when it may not be advantageous.

ETFs are subject to additional risks that do not apply to conventional mutual funds, including the risks that the market price of an ETF’s shares may trade at a premium or discount to its net asset value, an active secondary trading market may not develop or be maintained, or trading may be halted by the exchange in which they trade, which may impact a Fund’s ability to sell its shares. Shares of any ETF are bought and sold at market price (not NAV) and are not individually redeemed from the Fund. Brokerage commissions will reduce returns.

ESG investing risk is the risk stemming from the Environmental, Social, and Governance factors that the Fund applies in selecting securities. The Fund intends to invest in companies with measurable high ESG ratings relative to their sector peers, and screen out particular companies that do not meet its ESG criteria. This may affect the Fund’s exposure to certain companies or industries and cause the Fund to forego certain investment opportunities. The Fund’s returns may be lower than other funds that do not seek to invest in companies based on ESG ratings. The Fund seeks to pursue its investment objective by using proprietary models that incorporate quantitative analysis. There is no guarantee that the Portfolio Managers’ use of these models will result in effective investment decisions for the Fund. From time to time, the Fund may concentrate its investments in one or more industry sectors. The Fund is currently substantially invested in the Consumer Discretionary and Health Care sectors and its performance is therefore tied closely to, and affected by, developments in these industries.

Master Limited Partnerships (MLPs) and MLP investments have unique characteristics. A Fund does not receive the same tax benefits as a direct investment in an MLP.

The prices of MLP units may fluctuate abruptly and trading volume may be low, making it difficult for a Fund to sell its units at a favorable price. MLP general partners have the power to take actions that adversely affect the interests of unit holders. Most MLPs do not pay U.S. federal income tax at the partnership level, but an adverse change in tax laws could result in MLPs being treated as corporations for federal income tax purposes, which could reduce or eliminate distributions paid by MLPs to the Fund. If the Energy Transition Fund’s MLP investments exceed 25% of its assets, it may not qualify for treatment as a regulated investment company (“RIC”) under the Internal Revenue Code (“Code”), and the Fund would be taxed as an ordinary corporation, which could substantially reduce its net assets and its distributions to shareholders. The Midstream Fund is treated as a regular corporation, or “C” corporation, for U.S. federal income tax purposes, and therefore, is subject to U.S. federal income tax on its taxable income at the graduated rates applicable to corporations (currently a maximum rate of 21%) as well as state and local income taxes. The Midstream Fund will not benefit from current favorable federal income tax rates on long-term capital gains, and Fund income and losses will not be passed on to shareholders. The Midstream Fund accrues deferred income taxes for future tax liabilities associated with the portion of MLP distributions considered to be a tax-deferred return of capital and for any net operating gains as well as capital appreciation of its investments. This deferred tax liability is reflected in the daily NAV, and as a result, the Fund’s after-tax performance could differ significantly from the underlying assets even if the pre-tax performance is closely tracked.

Glossary of Terms contains definitions and additional information.

To view the top 10 holdings of a Fund, please click the Fund name: Cornerstone Growth, Focus, Cornerstone Mid Cap 30, Cornerstone Large Growth, Cornerstone Value, Total Return, Equity and Income, Balanced, Energy Transition, Midstream, Gas Utility, Japan, Japan Small Cap, Large Cap Financial, Small Cap Financial, Technology. Fund holdings are subject to change and not recommendations to buy or sell any security.

Opinions expressed are subject to change at any time, are not guaranteed, and should not be considered investment advice.

News and Media Page:

To view the Morningstar ratings for the Japan Fund, please click here. (Media - TD Ameritrade)

To view the Morningstar ratings for the Focus Fund, please click here. (Media - CNBC-B. Macualey).

1 USD = 105.36 Yen as of 07/27/2020 (Media - Ticker - M. Takeda)

Tom White is a TD Ameritrade Network contributor and is not affiliated with the Hennessy Funds. Content is not investment advice, or a recommendation of any security, strategy, or account type. Options involve risks and are not suitable for all investors as the special risks inherent to options trading may expose investors to potentially rapid and substantial losses.(Media - TD Ameritrade-Rothberg)

To view the Morningstar ratings, please click here.

The Hennessy Funds are offered only to United States residents, and information on this web site is intended only for such persons. Nothing on this web site should be considered a solicitation to buy or an offer to sell shares of any Hennessy Fund in any jurisdiction where the offer or solicitation would be unlawful under the securities laws of such jurisdiction.

Quasar Distributors, LLC, Distributor.

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