Investment objective & strategy
As of March 2, 2026 · prospectusObjective. The Hennessy Cornerstone Large Growth Fund seeks long-term growth of capital.
Strategy. The Fund may invest in any company whose securities are listed on a U.S. national securities exchange, but not through American Depositary Receipts, which are U.S. dollar-denominated securities of foreign issuers listed on U.S. national securities exchanges. The Fund invests in growth-oriented common stocks of larger companies by utilizing a quantitative formula known as the Cornerstone Large Growth Formula (the Large Growth Formula). Beginning with the investable common stocks of public companies in the S&P Capital IQ Database, the Large Growth Formula identifies the 50 common stocks that meet the following criteria, in the specified order: 1) Above-average market capitalization 2) Price-to-cash flow ratio less than the median of the remaining securities 3) Positive total capital 4) Highest one-year return … The Fund may invest in any company whose securities are listed on a U.S. national securities exchange, but not through American Depositary Receipts, which are U.S. dollar-denominated securities of foreign issuers listed on U.S. national securities exchanges. The Fund invests in growth-oriented common stocks of larger companies by utilizing a quantitative formula known as the Cornerstone Large Growth Formula (the Large Growth Formula). Beginning with the investable common stocks of public companies in the S&P Capital IQ Database, the Large Growth Formula identifies the 50 common stocks that meet the following criteria, in the specified order: 1) Above-average market capitalization 2) Price-to-cash flow ratio less than the median of the remaining securities 3) Positive total capital 4) Highest one-year return on total capital The Fund purchases these 50 stocks weighted equally by dollar amount, with 2% of the portfolios assets invested in each. Using the Large Growth Formula, the universe of stocks is re-screened and the portfolio is rebalanced annually, generally in the winter. Stocks meeting the Large Growth Formulas criteria not currently in the portfolio are purchased, and stocks that no longer meet the criteria are sold. Holdings of all stocks in the Fund that continue to meet the criteria are appropriately increased or decreased to result in an equal 2% weighting.
Top holdings
As of Jan. 31, 2026 · N-PORT| Security | Ticker | Value | % of fund |
|---|---|---|---|
| GILEAD SCIENCES INC | — | $3.08M | 2.22% |
| NVR INC | — | $3.05M | 2.20% |
| SYSCO CORP | — | $2.95M | 2.13% |
| COLGATE-PALMOLIVE CO | — | $2.92M | 2.10% |
| PEPSICO INC | — | $2.87M | 2.07% |
| JOHNSON&JOHNSON | — | $2.86M | 2.06% |
| AMERIPRISE FINANCIAL INC | — | $2.85M | 2.05% |
| TRAVELERS COS IN | — | $2.85M | 2.05% |
| HCA HEALTHCARE INC | — | $2.83M | 2.04% |
| PROCTER & GAMBLE | — | $2.82M | 2.03% |
Portfolio moves
Oct 31, 2025 → Jan 31, 2026How many positions this fund opened, exited, grew, trimmed, or left unchanged between its two most recent N-PORT snapshots — net changes between point-in-time reports, not a trade log.
Similar funds
Funds whose portfolios most overlap this one, by weight| Fund | Overlap | Net exp. |
|---|---|---|
| First Trust Bloomberg Shareholder Yield ETF · SHRY | 29% | 0.60% |
| Invesco Bloomberg MVP Multi-Factor ETF · BMVP | 28% | 0.29% |
| Horizon Dividend Income ETF · DIVN | 25% | 0.70% |
Advisers
| Firm | Role |
|---|---|
| Hennessy Advisors Inc. | Adviser |
Footnotes
- Expense ratio as of March 2, 2026, from the fund's prospectus.
- Net assets and holdings count as of January 31, 2026, from the fund's N-PORT filing.
- Total return for calendar year 2025, before tax and after fund expenses. As reported in the fund's prospectus performance bar chart.
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