Increased attention is being paid to the inclusion of focused mutual funds in portfolio allocations. Studies have shown that concentrated portfolios can provide meaningful performance advantages over time.
Chief Investment Officer, Ryan Kelley, summarizes a look back over a volatile 2022 and reinforces that time in the market can smooth out the choppy markets, and he believes the outlook for U.S. stocks remains positive.
CDW Corporation, a Fortune 500 company, is a value-added reseller (VAR) of information technology hardware, software, and services. We believe its scale advantages, breadth of offerings and consultative sales culture combined with a growing market and market share gains should propel attractive growth for many years to come.
The Portfolio Managers discuss the Fund’s valuation and earnings growth relative to the overall market, their current watchlist, new holding Shenandoah Telecommunications, American Woodmark’s pricing power, and what investors should consider going forward.
Ryan Kelley, CIO of Hennessy Funds, provides his mid-year review and outlook on what lies ahead, emphasizing a long-term perspective.
The Portfolio Managers discuss several Fund holdings that offer an attractive risk/return profile, share their views on consumer-related holdings, and provide insights into the portfolio’s valuation and earnings growth relative to its benchmark.
CarMax is the largest retailer of used cars in the U.S. Over the last 29 years it has grown from a single store to 230 stores across the country with consumer-friendly, no-haggle pricing, and a generous return policy, a straightforward approach contrasting the traditional used car dealers.
The Portfolio Managers discuss how the Focus Fund has rewarded investors over the past 25 years. They also share their thoughts on how certain portfolio holdings have benefited from the inflationary environment, supply chain issues, and strong housing demand.
The Portfolio Managers of the Hennessy Focus Fund discuss how certain holdings benefit in today’s strong housing and used and new car market, merger and acquisition activity, a new holding, and the Fund’s potential earnings growth.
In his mid-year outlook, Hennessy Funds’ CIO Ryan Kelley reflects on the past year and shares his thoughts for the future.