Hennessy Select Large Value Fund (HSVFX)

Overview
The Hennessy Select Large Value Fund seeks long-term growth of capital and current income by purchasing larger capitalization companies that are out of favor and undervalued.

Investment Strategy
The Hennessy Select Large Value Fund invests in stocks which its portfolio managers consider to be undervalued based on earnings, dividends and/or assets, or on other widely recognized stock valuation measurements. Further, the portfolio managers believe that these companies have sound businesses with good future potential based on their fundamental characteristics.
Download Fund Fact Sheet
Fund Information as of 12/31/09
Equity Sector Weighting
Consumer Discretionary
9.6%
Consumer Staples
5.7%
Energy
18.0%
Financials
22.3%
Health Care
9.7%
Industrials
10.8%
Information Technology
5.9%
Materials
4.8%
Telecommunication Services
5.6%
Utilities
7.6%
Top 10 Holdings
Exxon Mobil Corp.
5.2%
Chevron Corp.
4.3%
JPMorgan Chase & Co.
3.9%
General Electric Co.
3.3%
Verizon Communications, Inc.
2.7%
Bank of America Corp.
2.6%
Goldman Sachs Group, Inc.
2.6%
Microsoft Corp.
2.3%
United Health Group
2.3%
Apache Corp.
2.1%
 
Fund Information as of 12/31/09
Fund Information
Total Net Assets $140 million  
Beta (vs. S&P 500)* 0.96  
Distributions Paid Annually, generally in Nov. or Dec.  
  Original Class Institutional Class
Expense Ratio Gross 1.37%; Net 1.30%** Gross 1.19%; Net 0.98%***
CUSIP 425 88P 502 425 88P 601
Ticker HSVFX HSVIX
SEC Fund Identifier Series S000025096 Series S000025096

Class C000074660 Class C000074661
Inception Date 9/30/84**** 9/30/84****
Minimum Investment $2,500 $250,000^
Minimum Investment (IRA) $250 $250,000^

Performance as of 12/31/09
Domestic/Foreign Holdings
Ireland
1.6%
USA
98.4%
Portfolio Composition
Equity
99.8%
Cash
0.2%
Average Annual Total Returns
YTD
1 Year
3 Year
5 Year
10 Year
Since Inception (9/30/84)
HSVFX
19.45%
19.45%
-7.73%
-1.72%
1.88%
9.60%
Russell 1000 Value Index
19.69%
19.69%
-8.96%
-0.25%
2.47%
10.89%
S&P 500 Index
26.46%
26.46%
-5.63%
0.42%
-0.95%
10.51%

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. Performance data current to the most recent month end may be obtained by clicking here.

Investment performance reflects fee waivers in effect. In the absence of such waivers, total return would be reduced. Performance shown for the period 4/20/04 to 3/20/09 reflects performance for Tamarack Value Fund, the predecessor to Hennessy Select Large Value Fund. Performance shown for the period 9/30/84 to 4/19/04 reflects performance for the Babson Value Fund, the predecessor to Tamarack Value Fund.

Year by Year Total Returns
 
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
HSVFX
9.06%
-3.16%
-14.47%
24.95%
16.34%
1.29%
15.28%
3.31%
-36.35%
19.45%
Russell 1000 Value Index
7.01%
-5.59%
-15.52%
30.03%
16.49%
7.05%
22.25%
-0.17%
-36.85%
19.69%
S&P 500 Index
-9.10%
-11.89%
-22.10%
28.68%
10.88%
4.91%
15.80%
5.49%
-37.00%
26.46%

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The Fund’s composition and sector weightings are shown as a percentage of the Fund’s total net assets. Portfolio composition and sector weightings are subject to change at any time and should not be considered a recommendation to buy or sell a particular security. The S&P 500 and Russell 1000 Value are unmanaged indices commonly used to measure the performance of U.S. stocks. One cannot invest directly in an index.

The Fund may invest in medium-capitalization companies, which tend to have limited liquidity and greater price volatility than large-capitalization companies.

* Beta is a measure of a portfolio’s sensitivity to market movements (as represented by the S&P 500). The index has a beta of 1.0. A beta of more (less) than 1.0 indicates that a fund’s historical returns have fluctuated more (less) than the index.

** The expense ratio for Original Class shares is contractually capped at 1.30% through March, 2010.

*** The expense ratio for Institutional Class shares is contractually capped at 0.98% until 10/31/09.

**** Hennessy Advisors, Inc. became the manager of the Fund on 3/20/09.

^ Initial minimum investment of $250,000 may be waived for certain fee-based or retirement plans.