Hennessy Cornerstone Value Fund
|
|||||||
Schedule of Investments
|
|||||||
January 31, 2020 (Unaudited)
|
|||||||
Number
|
% of
|
||||||
of Shares
|
Value
|
Net Assets
|
|||||
COMMON STOCKS - 97.29%
|
|||||||
Communication Services - 4.45%
|
|||||||
AT&T, Inc.
|
161,260
|
$ |
6,066,601
|
2.39%
|
|||
Verizon Communications, Inc.
|
88,300
|
5,248,552
|
2.06%
|
||||
11,315,153
|
4.45%
|
||||||
Consumer Discretionary - 10.07%
|
|||||||
Carnival Corp. (a)
|
85,000
|
3,700,050
|
1.46%
|
||||
Ford Motor Co.
|
568,345
|
5,012,803
|
1.97%
|
||||
General Motors Co.
|
123,200
|
4,113,648
|
1.62%
|
||||
Las Vegas Sands Corp.
|
80,000
|
5,224,800
|
2.05%
|
||||
Target Corp.
|
68,300
|
7,563,542
|
2.97%
|
||||
25,614,843
|
10.07%
|
||||||
Consumer Staples - 20.46%
|
|||||||
Altria Group, Inc.
|
96,800
|
4,600,904
|
1.81%
|
||||
Archer-Daniels-Midland Co.
|
113,600
|
5,084,736
|
2.00%
|
||||
British American Tobacco PLC - ADR (a)
|
135,300
|
5,959,965
|
2.35%
|
||||
General Mills, Inc.
|
107,200
|
5,597,984
|
2.20%
|
||||
PepsiCo, Inc.
|
42,300
|
6,007,446
|
2.36%
|
||||
Philip Morris International, Inc.
|
59,700
|
4,937,190
|
1.94%
|
||||
The Coca-Cola Co.
|
96,800
|
5,653,120
|
2.22%
|
||||
The Kraft Heinz Co.
|
99,900
|
2,917,080
|
1.15%
|
||||
The Procter & Gamble Co.
|
48,400
|
6,031,608
|
2.37%
|
||||
Unilever PLC - ADR (a)
|
87,600
|
5,235,852
|
2.06%
|
||||
52,025,885
|
20.46%
|
||||||
Energy - 17.91%
|
|||||||
BP PLC - ADR (a)
|
113,300
|
4,093,529
|
1.61%
|
||||
Canadian Natural Resources Ltd. (a)
|
178,600
|
5,024,018
|
1.98%
|
||||
Chevron Corp.
|
40,475
|
4,336,492
|
1.70%
|
||||
Exxon Mobil Corp.
|
63,810
|
3,963,877
|
1.56%
|
||||
Marathon Petroleum Corp.
|
77,700
|
4,234,650
|
1.66%
|
||||
Occidental Petroleum Corp.
|
73,160
|
2,905,915
|
1.14%
|
||||
Phillips 66
|
51,100
|
4,669,007
|
1.84%
|
||||
Royal Dutch Shell PLC - ADR (a)
|
73,800
|
3,932,064
|
1.55%
|
||||
Schlumberger Ltd. (a)
|
109,100
|
3,655,941
|
1.44%
|
||||
Suncor Energy, Inc. (a)
|
147,800
|
4,521,202
|
1.78%
|
||||
Total S.A. - ADR (a)
|
86,500
|
4,203,035
|
1.65%
|
||||
45,539,730
|
17.91%
|
||||||
Financials - 14.21%
|
|||||||
HSBC Holdings PLC - ADR (a)
|
114,210
|
4,144,681
|
1.63%
|
||||
JPMorgan Chase & Co.
|
46,900
|
6,207,684
|
2.44%
|
||||
MetLife, Inc.
|
108,500
|
5,393,535
|
2.12%
|
||||
Morgan Stanley
|
116,800
|
6,103,968
|
2.40%
|
||||
Royal Bank of Canada (a)
|
63,200
|
4,990,272
|
1.96%
|
||||
Toronto-Dominion Bank (a)
|
85,300
|
4,713,678
|
1.85%
|
||||
Wells Fargo & Co.
|
98,000
|
4,600,120
|
1.81%
|
||||
36,153,938
|
14.21%
|
||||||
Health Care - 14.08%
|
|||||||
AbbVie, Inc.
|
60,200
|
4,877,404
|
1.92%
|
||||
Amgen, Inc.
|
25,500
|
5,509,275
|
2.17%
|
||||
Bristol-Myers Squibb Co.
|
96,700
|
6,087,265
|
2.39%
|
||||
CVS Health Corp.
|
71,700
|
4,862,694
|
1.91%
|
||||
Gilead Sciences, Inc.
|
73,500
|
4,645,200
|
1.83%
|
||||
GlaxoSmithKline PLC - ADR (a)
|
118,600
|
5,550,480
|
2.18%
|
||||
Pfizer, Inc.
|
114,800
|
4,275,152
|
1.68%
|
||||
35,807,470
|
14.08%
|
||||||
Industrials - 7.36%
|
|||||||
3M Co.
|
23,300
|
3,696,778
|
1.45%
|
||||
Emerson Electric Co.
|
70,600
|
5,057,078
|
1.99%
|
||||
Johnson Controls International PLC (a)
|
138,900
|
5,479,605
|
2.15%
|
||||
United Parcel Service, Inc., Class B
|
43,400
|
4,492,768
|
1.77%
|
||||
18,726,229
|
7.36%
|
||||||
Information Technology - 7.26%
|
|||||||
International Business Machines Corp.
|
35,300
|
5,073,669
|
2.00%
|
||||
Qualcomm, Inc.
|
93,100
|
7,942,361
|
3.12%
|
||||
Texas Instruments, Inc.
|
45,200
|
5,453,380
|
2.14%
|
||||
18,469,410
|
7.26%
|
||||||
Materials - 1.49%
|
|||||||
Corteva, Inc.
|
30,066
|
869,509
|
0.34%
|
||||
DOW, Inc.
|
30,066
|
1,385,140
|
0.54%
|
||||
DuPont de Nemours, Inc.
|
30,066
|
1,538,778
|
0.61%
|
||||
3,793,427
|
1.49%
|
||||||
Total Common Stocks (Cost
$243,748,594)
|
247,446,085
|
97.29%
|
|||||
SHORT-TERM INVESTMENTS - 2.76%
|
|||||||
Money Market Funds - 2.76%
|
|||||||
First American Government Obligations Fund, Institutional Class, 1.49% (b)
|
7,031,668
|
7,031,668
|
2.76%
|
||||
Total Short-Term Investments
(Cost $7,031,668)
|
7,031,668
|
2.76%
|
|||||
Total Investments (Cost
$250,780,262) - 100.05%
|
254,477,753
|
100.05%
|
|||||
Liabilities in Excess of Other Assets - (0.05)%
|
(136,024)
|
(0.05)%
|
|||||
TOTAL NET ASSETS - 100.00%
|
$ |
254,341,729
|
100.00%
|
Percentages are stated as a percent of net assets.
|
||||||
ADR – American Depositary Receipt
|
||||||
PLC – Public Limited Company
|
||||||
(a)
|
U.S.-traded security of a foreign corporation.
|
|||||
(b)
|
The rate listed is the fund’s seven-day yield as of January 31, 2020.
|
Note: For presentation purposes, the Fund has grouped some of the industry categories. For purposes of categorizing
securities for compliance with Section 8(b)(1) of the Investment Company Act of 1940, as amended, the Fund uses more specific industry classifications.
|
|||||||||||
The Global Industry Classification Standard (GICS®) was developed by and is the exclusive property and a
service mark of MSCI, Inc. and Standard & Poor’s Financial Services LLC. It has been licensed for use by the Hennessy Funds.
|
Summary of Fair Value Exposure as of January 31, 2020
|
|
Level 2 – Other significant observable inputs (including, but not limited to, quoted prices in active markets for similar instruments, quoted prices in markets that are not active for identical or similar instruments, and model-derived
valuations in which all significant inputs and significant value drivers are observable in active markets, such as interest rates, prepayment speeds, credit risk curves, default rates, and similar data).
|
|
|
|
Level 2 – Other significant observable inputs (including, but not limited to, quoted prices in active markets for similar instruments, quoted prices in markets that are not active for identical or similar instruments, and model-derived valuations in which all significant inputs and significant value drivers are observable in active markets, such as interest rates, prepayment speeds, credit risk curves, default rates, and similar data). |
|
|
|
Level 3 – Significant unobservable inputs (including the Fund’s own assumptions about what market participants would use to price the asset or liability based on the best available information) when observable inputs
are unavailable. |
Common Stocks
|
Level 1
|
Level 2
|
Level 3
|
Total
|
||||||||||||
Communication Services
|
$
|
11,315,153
|
$
|
–
|
$
|
–
|
$
|
11,315,153
|
||||||||
Consumer Discretionary
|
25,614,843
|
–
|
–
|
25,614,843
|
||||||||||||
Consumer Staples
|
52,025,885
|
–
|
–
|
52,025,885
|
||||||||||||
Energy
|
45,539,730
|
–
|
–
|
45,539,730
|
||||||||||||
Financials
|
36,153,938
|
–
|
–
|
36,153,938
|
||||||||||||
Health Care
|
35,807,470
|
–
|
–
|
35,807,470
|
||||||||||||
Industrials
|
18,726,229
|
–
|
–
|
18,726,229
|
||||||||||||
Information Technology
|
18,469,410
|
–
|
–
|
18,469,410
|
||||||||||||
Materials
|
3,793,427
|
–
|
–
|
3,793,427
|
||||||||||||
Total Common Stocks
|
$
|
247,446,085
|
$
|
–
|
$
|
–
|
$
|
247,446,085
|
||||||||
Short-Term Investments
|
||||||||||||||||
Money Market Funds
|
$
|
7,031,668
|
$
|
–
|
$
|
–
|
$
|
7,031,668
|
||||||||
Total Short-Term Investments
|
$
|
7,031,668
|
$
|
–
|
$
|
–
|
$
|
7,031,668
|
||||||||
Total Investments
|
$
|
254,477,753
|
$
|
–
|
$
|
–
|
$
|
254,477,753
|