Objective and Overview
The Hennessy Focus Fund seeks capital appreciation by employing a fundamental, bottom-up investment approach that concentrates the Fund's holdings in the Portfolio Managers' best ideas.
The Hennessy Focus Fund seeks high-quality, growth-oriented companies that demonstrate:
- Strong competitive position
- Predictable cash earnings growth
- High return on invested capital
- Excellent management
- Modest valuation
The Fund maintains a concentrated portfolio of 20 to 30 stocks that is conviction-weighted with 60-80% of assets in the top 10 holdings. Once a stock is in the portfolio, we expect to own it for at least 5 years.