Hennessy Gas Utility Fund
GASFX
NASDAQ- -
USD
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- -
Capital Structure
FRC
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in mil. unless spec.Working Capital
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in mil. unless spec.Growth Rates
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in mil. unless spec.Quarterly Revenue
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.Quarterly Dividends Per Share
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in mil. unless spec.- Sector
- Financial Services
- Industry
- Asset Management
- Address
- 1001 Nineteenth Street North Arlington VA United States of America 22209
- IPO Date
- May 10, 1989
- CIK
- 0001277946
- Website
- hennessyfunds.com
- Similar Companies
- Business
- Hennessy Gas Utility Fund (GASFX) is an open-end mutual fund that seeks income and capital appreciation by tracking the performance of the American Gas Association (AGA) Stock Index through a full replication strategy. The Fund invests at least 85% of its net assets in common stocks of publicly traded AGA member companies focused on natural gas distribution and transmission operations, including gas utilities; oil and gas storage and transportation; multi-utilities; electric utilities; oil and gas exploration and production; and related sectors such as diversified gas pipelines, fuel dealers, and liquefied petroleum gas dealers, with no single holding exceeding 5% of assets. Top holdings as of September 30, 2025, include Williams Companies Inc. (5.3%), Sempra (5.2%), Kinder Morgan Inc. (5.1%), TC Energy Corp. (5.1%), and Enbridge Inc. (5.0%), representing approximately 50% of net assets; the portfolio comprises 47 equity holdings with 85.9% U.S. allocation, 13.8% international (primarily Canada and U.K.), and sector weights led by utilities (57.1%) and energy (37.8%). Launched on May 10, 1989, and domiciled in the United States, the Fund is managed by Hennessy Advisors, Inc., headquartered in Novato, California, with portfolio managers Ryan C. Kelley (Chief Investment Officer, since March 31, 2013) and L. Joshua Wein (since February 28, 2019); it offers Investor Class (GASFX, 0.99% gross expense ratio) and Institutional Class (HGASX, 0.69% expense ratio) shares, with total net assets of approximately $512 million as of September 30, 2025. The Fund distributes ordinary income quarterly and capital gains annually, yielding 1.84% (dividend) and 2.08% (30-day SEC) for Investor Class as of November 30, 2025, and targets retail investors, financial advisors, and institutions seeking exposure to natural gas demand growth, index-based stability, and defensive characteristics during volatile markets. Recent developments include strong 2024 performance aligning with the S&P 500 (up 25% total return), robust earnings per share growth of approximately 23% amid steady capital expenditures, and positioning for 2025 drivers such as artificial intelligence-driven power demand (data centers projected to triple to 8% of U.S. usage by 2030, favoring reliable natural gas), potential policy shifts under the current administration (e.g., LNG export permit accelerations, reduced clean power regulations), P/E multiple contraction to 17x (20% discount to S&P 500's 22x), and sustained dividend growth (3.6% average yield, 5.4% three-year annualized); portfolio turnover stands at 26%, with ongoing daily rebalancing to maintain over 95% correlation to the AGA Index.