Browse the world's most comprehensive database of hedge fund investor letters, sorted by recent quarter. Access primary source research from leading institutional managers.
| Quarter | Letter Date | Fund Name | QTD | YTD | Tickers | Themes | Quick Take |
|---|---|---|---|---|---|---|---|
Buyside Digest is not affiliated with, and does not endorse, Hennessy Cornerstone Growth Fund. This analysis is provided for institutional research purposes only and is not investment advice.
"Hennessy Cornerstone Growth Fund combines value and momentum factors to build a 50-stock small cap portfolio using strict quantitative screens. The Fund is heavily overweight Industrials, Energy, Technology, and Materials, positioning for AI infrastructure buildout, manufacturing reshoring, grid electrification, defense spending, and materials scarcity."
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.
Sign in or create a free account to unlock full commentary, extracted equity pitches, and direct outbound manager source links with your 3 quarterly credits.
