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| Quarter | Letter Date | Fund Name | QTD | YTD | Tickers | Themes | Quick Take |
|---|---|---|---|---|---|---|---|
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"The Hennessy Cornerstone Growth Fund applies a systematic screening formula to hold 50 high-momentum, low-valuation stocks. Amid recent tariff-induced market tumult, the fund has rebalanced heavily into defensive sectors and holds a historically high median market cap of $6.3 billion."
The Hennessy Cornerstone Growth Fund utilizes a disciplined, formula-based investment strategy that systematically combines elements of value and momentum investing. From the S&P Capital IQ Database, the Fund screens for companies with a market capitalization exceeding $175 million, a price-to-sales ratio below 1.5, positive annual earnings growth, and positive stock price appreciation over the past three- and six-month periods. From this screened universe, the Fund selects the 50 stocks with the highest one-year price appreciation, equally weighting them at 2% each. As of June 30, 2025, the Fund's median market cap reached a historically high $6.3 billion, driven by performance and market dynamics. This high market cap has historically correlated with strong top-quartile performance against peers. Currently, the Fund is heavily positioned in defensive and less-volatile sectors to navigate recent market tumult, particularly disruptions arising from tariff announcements. The top three sector weightings include Financials at 27.4% (with a focus on property, casualty, life, and health insurance), Consumer Staples at 20.5%, and Communication Services at 14.2%, which together comprise nearly two-thirds of the portfolio. Conversely, the Fund is underweight in Industrials relative to its Russell 2000 benchmark and has no holdings in Materials.
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Algorithmic conviction, macroeconomic posture, and risk appetite signals extracted from this quarterly letter with qualitative explanations.
Market Conviction
High-conviction positioning: The Hennessy Cornerstone Growth Fund applies a systematic screening formula to hold 50 high-momentum, low-valuation stocks. Amid recent tariff-induced market tumult, the fund has r...
Growth Outlook
Market outlook remains high conviction: The Hennessy Cornerstone Growth Fund applies a systematic screening formula to hold 50 high-momentum, low-valuation stocks. Amid recent tariff-induced market tumult, the fund has r...
Risk Appetite
Risk appetite posture is high conviction: The Hennessy Cornerstone Growth Fund applies a systematic screening formula to hold 50 high-momentum, low-valuation stocks. Amid recent tariff-induced market tumult, the fund has r...
Capital Deployment
Manager actively deployed capital into high-conviction opportunities. The Hennessy Cornerstone Growth Fund applies a systematic screening formula to hold 50 high-momentum, low-valuation stocks. Amid recent tariff-induced market tumult, the fund has r...
Forward Guidance
Forward guidance signal: The Hennessy Cornerstone Growth Fund applies a systematic screening formula to hold 50 high-momentum, low-valuation stocks. Amid recent tariff-induced market tumult, the fund has r...
Language Signal
Tone analysis indicates high conviction language: The Hennessy Cornerstone Growth Fund applies a systematic screening formula to hold 50 high-momentum, low-valuation stocks. Amid recent tariff-induced market tumult, the fund has r...
Perceived Risk
Perceived risk level is evaluated as moderate conviction. The Hennessy Cornerstone Growth Fund applies a systematic screening formula to hold 50 high-momentum, low-valuation stocks. Amid recent tariff-induced market tumult, the fund has r...
Opportunity Density
Opportunity density index indicates high conviction actionable entry points. The Hennessy Cornerstone Growth Fund applies a systematic screening formula to hold 50 high-momentum, low-valuation stocks. Amid recent tariff-induced market tumult, the fund has r...
Time Horizon
Investment time horizon reflects a high conviction orientation. The Hennessy Cornerstone Growth Fund applies a systematic screening formula to hold 50 high-momentum, low-valuation stocks. Amid recent tariff-induced market tumult, the fund has r...
