Investment objective & strategy
As of March 2, 2026 · prospectusObjective. The Hennessy Energy Transition Fund seeks total return.
Strategy. The Fund invests in companies whose securities are listed on U.S. national securities exchanges, including through American Depositary Receipts (ADRs), which are U.S. dollar-denominated securities of foreign issuers listed on U.S. national securities exchanges. Investments consist primarily of common stocks. The Fund may also invest up to 25% of its total assets in securities of energy-related master limited partnerships (MLPs). As a non-principal investment strategy, the Fund may also invest in securities such as preferred stocks, warrants, equity-like instruments, and debt instruments. With respect to up to 10% of its total assets, the Fund may invest in high-yield debt securities, preferred shares, and convertible securities. The Fund invests without regard to market capitalization. Under normal circumstances, the Fund invests at … The Fund invests in companies whose securities are listed on U.S. national securities exchanges, including through American Depositary Receipts (ADRs), which are U.S. dollar-denominated securities of foreign issuers listed on U.S. national securities exchanges. Investments consist primarily of common stocks. The Fund may also invest up to 25% of its total assets in securities of energy-related master limited partnerships (MLPs). As a non-principal investment strategy, the Fund may also invest in securities such as preferred stocks, warrants, equity-like instruments, and debt instruments. With respect to up to 10% of its total assets, the Fund may invest in high-yield debt securities, preferred shares, and convertible securities. The Fund invests without regard to market capitalization. Under normal circumstances, the Fund invests at least 80% of its net assets in companies operating in the United States across the full spectrum of the energy supply/demand value chain, including traditional upstream, midstream, and downstream energy companies, as well as renewable energy companies and energy end users. The Portfolio Managers use a proprietary research and investment process that involves fundamental and quantitative analysis of various macroeconomic and commodity price and other factors to select the Funds investments and determine the weighting of each investment. The Portfolio Managers may sell all or a portion of a position of the Funds portfolio holding for a number of reasons, including (1) the issuers fundamentals deteriorating, (2) the parameters established for the securitys profits or losses being realized, or (3) the Fund requiring cash to meet redemption requests.
Top holdings
As of Jan. 31, 2026 · N-PORT| Security | Ticker | Value | % of fund |
|---|---|---|---|
| EXXON MOBIL CORP | — | $1.02M | 6.84% |
| SLB LTD | — | $861.65K | 5.78% |
| NOV INC | — | $842.26K | 5.65% |
| HELMERICH & PAYN | — | $745.36K | 5.00% |
| HALLIBURTON CO | — | $736.77K | 4.95% |
| CHEVRON CORP | — | $735.37K | 4.94% |
| FRST AM-GV OB-X | TMPXX | $734.00K | 4.93% |
| WILLIAMS COS INC | — | $706.23K | 4.74% |
| DIAMONDBACK ENERGY INC | — | $675.47K | 4.53% |
| EXPAND ENERGY CORP | — | $674.46K | 4.53% |
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. |
|---|---|---|
| Invesco S&P 500 Equal Weight Energy ETF · RSPG | 51% | 0.40% |
| First Trust Nasdaq Oil & Gas ETF · FTXN | 47% | 0.60% |
| Westwood Salient Enhanced Energy Income ETF | 46% | 0.85% |
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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