Cornerstone Mid Cap 30 Fund Portfolio Managers Ryan Kelley and Josh Wein review the Fund’s investment strategy, discuss the most recent rebalance, and highlight a few fundamental drivers of the portfolio.
The Portfolio Managers of the Hennessy Gas Utility Fund discuss the higher interest rate environment and how the Fund has performed historically. They also talk about the Fund’s current composition, earnings growth, and dividends along with valuation of the Utilities sector.
In the following commentary, the Portfolio Managers of the Hennessy Focus Fund provide an update on the holdings, including which companies might benefit the most as the Federal Reserve ceases its rate hikes. The team also discusses opportunities in the growth of artificial intelligence, its Financials holdings, and Warren Buffett’s new position in NVR.
The Portfolio Managers of the Hennessy Equity and Income Fund provide a recap of the equity market, discuss expectations for interest rates, and give insight into where they are finding equity and fixed income opportunities.
In the following commentary, the Portfolio Managers of the Hennessy Focus Fund compare the portfolio’s earnings growth rates and valuations to its benchmark. They also provide insights into several holdings including O’Reilly Automotive, American Tower, Shenandoah Telecommunications, and AST SpaceMobile.
Japan’s stock market has been one of the world’s best performing in 2023. In this Portfolio Perspective, the Portfolio Managers discuss potential catalysts for the market, Japan’s economic “sweet spot,” and Berkshire Hathaway’s increased investment in Japan.
The Portfolio Managers of the Hennessy Japan Small Cap Fund provide their thoughts on the new Bank of Japan (BOJ) Governor’s policies, increased tourism, current valuations, changes to the portfolio, and an outlook for the rest of 2023.
Portfolio Managers Dave Ellison and Ryan Kelley discuss the banking crisis that unfolded in the first quarter of 2023, deposit withdrawals and their effect on banks, valuations of Financials, and an outlook for the sector for the remainder of 2023.
The Portfolio Managers of the Hennessy Gas Utility Fund discuss the production and demand dynamics of natural gas since the pandemic, including liquefied natural gas (LNG) exports and natural gas bans. They also provide an investment case for the Hennessy Gas Utility Fund.
In the following commentary, the Portfolio Managers of the Hennessy Cornerstone Value Fund discuss the Fund’s formula-based investment strategy and how it drives the Fund’s sector and industry positioning.