Hennessy Small Cap Financial Fund (HSFNX)

Top Ten Holdings as of 12/31/2016

Total as % of Net Assets 38.6%
Hingham Institution for Savings 4.5% Flushing Financial Corp. 3.8%
Brookline Bancorp, Inc. 4.1% Independent Bank Corp. 3.7%
Midland States Bancorp, Inc. 3.9% Meta Financial Group, Inc. 3.6%
Eagle Bancorp, Inc. 3.9% Kearny Financial Corp. 3.6%
Washington Federal, Inc. 3.9% FCB Financial Holdings, Inc. 3.6%

Sector Weighting as of 12/31/2016

Sub-Industry Weighting

Regional Banks 55.3%
Thrifts & Mortgage Finance 35.7%

Portfolio Characteristics as of 12/31/2016

Total Fund Assets $235.7 Million
Portfolio Turnover 53%
Number of Holdings 35
Median Market Cap $1.5 Billion
Median Price/Earnings 21.10x
Median Price/Book 1.64x

Country Allocation as of 12/31/2016

Puerto Rico 2.8%
United States 88.2%
Cash & Other 9.0%

Fund holdings and sector allocations are subject to change and should not be considered a recommendation to buy or sell any security.