Hennessy Cornerstone Value Fd Inv Cl
HFCVX
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
- 7250 Redwood Boulevard Nevato CA United States of America 94945
- IPO Date
- Nov 1, 1996
- CIK
- 0001017953
- Website
- hennessyfunds.com
- Similar Companies
- Business
- Hennessy Cornerstone Value Fund Investor Class (HFCVX) is an open-end mutual fund managed by Hennessy Advisors, Inc., that seeks total return consisting of capital appreciation and current income through a quantitatively driven strategy focused on large, dividend-paying common stocks. The Fund employs the proprietary Cornerstone Value Strategy, which screens the S&P Capital IQ Database (excluding utilities) to select 50 stocks meeting criteria including above-average market capitalization, above-average shares outstanding, trailing 12-month sales at least 50% greater than average, and above-average cash flow; these holdings are equally weighted at 2% of portfolio assets each and rebalanced annually in winter, resulting in a concentrated portfolio with current sector emphases in consumer staples, health care, and energy, alongside holdings such as CVS Health Corp., HSBC Holdings PLC, and Toronto-Dominion Bank. Investor Class shares carry a net expense ratio of 1.22%, with an inception date of November 1, 1996, and total net assets of approximately $295 million as of late 2025. Hennessy Advisors, Inc., founded in 1989 and headquartered in Novato, California, with additional offices in Boston, Massachusetts; Chapel Hill, North Carolina; and Austin, Texas, serves as the investment adviser, providing portfolio management, research, and compliance services across its family of domestic equity, sector, specialty, multi-asset, and exchange-traded funds. The Cornerstone Value Fund, acquired by Hennessy in 2000, operates within the large value category, targeting retail investors, financial advisors, and institutions seeking exposure to undervalued, high-dividend-yield U.S. and international large-cap equities, with approximately 71% U.S. allocation and 28% international as of September 2025. In recent developments, Hennessy Advisors announced in March 2025 a definitive agreement to acquire assets of two ETFs from STF Management, LP—the STF Tactical Growth ETF (TUG) and STF Tactical Growth & Income ETF (TUGN), totaling about $220 million in assets—with the transaction expected to close in Q3 2025 and integrate them as Hennessy Tactical Growth ETF and Hennessy Tactical Growth & Income ETF series under Hennessy Funds Trust. This follows a pattern of strategic acquisitions, including the CCM Core Impact Equity Fund merged into the Hennessy Sustainable ETF in 2024, enhancing Hennessy's ETF offerings and overall assets under management, which stood at roughly $3.6 billion as of September 2024. The Firm continues its growth-through-acquisition model while maintaining the disciplined, formulaic approach for funds like HFCVX, with portfolio managers Neil J. Hennessy (since 2000), Ryan C. Kelley (since 2017), and L. Wein (since 2019) overseeing operations.