While O’Reilly Automotive is a leader in the automotive aftermarket parts industry in the U.S., the company’s recent acquisition of Mexico-based Mayasa Auto Parts illustrates the company’s greater goals to expand its operations internationally.
Portfolio Managers of the Hennessy Focus Fund, David Rainey and Brian Macauley make the case for two top holdings.
The Hennessy Focus Fund Managers discuss a recently added position, how they currently evaluate “tail risk,” select holdings trading at exceptionally low valuations and O’Reilly Automotive’s expansion plans.
The Hennessy Focus Fund Managers discuss the impact of COVID-19 on the economy, the market and the portfolio. They describe how they position the portfolio for difficult economic environments as well as their investment case for RH, the Fund’s newest holding.
The Hennessy Focus Fund Managers discuss portfolio earnings relative to the overall market, repercussions from the trade dispute, insight on the Fund’s financial holdings, and views regarding proposed mergers involving two portfolio companies.
Portfolio Managers Ryan Kelley and Josh Wein review the Fund’s investment strategy and discuss the Fund’s most recent rebalance and changes in the portfolio composition. They also highlight the fundamental drivers of select sectors within the portfolio.
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.
Portfolio Managers, Ryan Kelley and Josh Wein detail how the Hennessy Cornerstone Mid Cap 30 Fund utilizes a quantitative formula to select a concentrated portfolio of 30 domestic, mid-cap stocks.
The Hennessy Focus Fund Managers discuss their investment process, describe share buyback programs among portfolio companies, and share their insights on a few of the Fund’s largest holdings.
In the following commentary, the Portfolio Managers of the Hennessy Cornerstone Growth Fund discuss the Fund’s quantitative investment strategy and how it drives the Fund’s sector and industry positioning.