The curated database of hedge funds that publish investor letters. Research by geography, strategy, and schools of thought.
| # | Fund | Strategy | Style | Geography | AUM | Latest Letter |
|---|---|---|---|---|---|---|
As of Jul 29, 2026
The Hennessy Cornerstone Growth Fund utilizes a disciplined, formula-based approach to identify 50 small cap stocks that combine attractive valuations with strong price momentum. The strategy screens for companies with market caps exceeding $175 million, price-to-sales ratios below 1.5, year-over-year earnings growth, and positive three-month, six-month, and one-year price appreciation. As of June 30, 2026, the Fund has a median market cap of $4.0 billion and median price-to-sales ratio of 0.9x, compared to 2.0x for the Russell 2000 benchmark. The portfolio is significantly overweight Industrials at 24%, Energy at 20%, Information Technology at 18%, and Materials at 11%, representing a dramatic shift from the prior year. These allocations reflect momentum in AI infrastructure spending, grid electrification, manufacturing reshoring, elevated defense budgets, surging electricity demand from data centers, and increasing scarcity value for strategic materials. The Fund rebalances annually with equal-weighted 2% positions in each of its 50 holdings, providing diversified exposure across all sectors except Utilities.
The Hennessy Cornerstone Growth Fund employs a formula-based strategy to identify attractively valued small cap stocks exhibiting strong price momentum, combining value and momentum factors to capture companies with improving fundamentals and market recognition.
The Fund expects continued momentum across its key sector allocations in the latter half of 2026. Industrials should benefit from ongoing capital spending in AI infrastructure, grid electrification, manufacturing reshoring, and elevated defense budgets. Energy sector strength is expected to persist due to surging electricity demand from AI data centers and manufacturing reshoring, combined with geopolitical factors. Technology will be driven by AI adoption and replacement cycles. Materials are positioned to benefit from increasing manufacturing importance and rising scarcity value for strategic metals and chemicals globally.
Neutral / Balanced
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