Hennessy Total Return Fund Inv Cl
HDOGX
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- Hennessy Total Return Fund Investor Class (HDOGX) is an open-end mutual fund that seeks total return through capital appreciation and current income by employing a quantitatively managed, multi-asset strategy centered on the contrarian "Dogs of the Dow" approach; it invests approximately 50% of its assets in the 10 highest dividend-yielding stocks from the Dow Jones Industrial Average (DJIA) in roughly equal dollar amounts, such as Johnson & Johnson, IBM Corp., Verizon Communications, Cisco Systems, Coca-Cola, Chevron, Amgen, McDonald's, Procter & Gamble, and Merck as of September 30, 2025, and 50% in U.S. Treasury securities with maturities of less than one year; the fund utilizes reverse repurchase agreements secured by its Treasury holdings to leverage its portfolio, approximating an effective allocation of 75% to "Dogs of the Dow" equities and 25% to short-term U.S. Treasuries. Launched on July 29, 1998, by Hennessy Advisors, Inc., the fund operates within the moderate allocation category with a large value investment style, targeting investors seeking broad U.S. equity exposure to high-yield blue-chip companies alongside lower-volatility fixed income for potentially reduced risk relative to pure equity benchmarks like the DJIA; portfolio characteristics as of September 30, 2025, include total assets of $48 million, a portfolio turnover of 35%, median market capitalization of $270.5 billion, median price/earnings ratio of 22.4x, and median price/book value of 5.7x; equity sector weightings emphasize health care (21.4%), information technology (15.4%), and consumer staples (13.3%), with nearly all assets (98.1%) allocated to U.S. securities and the remainder in cash equivalents. Hennessy Advisors, Inc., the fund's investment adviser founded in 1989 and headquartered in Novato, California, with additional offices in Boston, Massachusetts; Chapel Hill, North Carolina; Austin, Texas; and Dallas, Texas, manages the fund alongside its broader lineup of 17 mutual funds and ETFs spanning domestic equity, multi-asset, sector, and specialty strategies, with total assets under management reaching $4.6 billion as of fiscal year 2025. In recent developments, Hennessy Advisors reported strong fiscal 2025 results on December 3, 2025, including a 38% increase in annual earnings per share, 23% revenue growth to $29.6 million, and 49% net income expansion to $7.1 million, driven by $72 million in mutual fund asset purchases, $549 million in net new assets, and market appreciation; the firm announced a pending ETF acquisition to diversify offerings, following its 2024 acquisition of the CCM Core Impact Equity Fund merged into the Hennessy Sustainable ETF, and maintained its 12th consecutive profitable quarter while reaffirming quarterly dividends and organic growth initiatives.