Hennessy Advisors Inc
hennessyadvisors.comWhat Do They Do?
Manages mutual funds and an exchange-traded fund for retail investors and financial advisors investing on behalf of clients.
10-K for FY2025, filed Dec 3, 2025
How Do They Make Money?
The Hennessy Funds pay advisory fees, while the mutual funds also pay shareholder-service fees; both are based on average daily fund assets, so the amounts rise or fall with those assets.
10-K for FY2025, filed Dec 3, 2025
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10-K for FY2025, filed Dec 3, 2025
FY2025 revenue by product or service ↗
$35.5M
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10-K for FY2025, filed Dec 3, 2025
$35.5M ↗
| Segment | Share | Revenue | How money arrives |
|---|---|---|---|
|
Investment Advice
Recurring
10-K for FY2025, filed Dec 3, 2025 |
93%
FY2022: 93%
|
Investment Advice, FY2025
$33.2M Sources
|
Recurring |
|
Shareholder Service
Recurring
|
6.7%
FY2022: 7.4%
|
Shareholder Service, FY2025
$2.4M Sources
|
Recurring |
Who Are Their Customers?
Retail investors and financial advisors investing for clients buy the funds through financial institutions such as fund supermarkets and broker-dealers; mutual fund shares are also available directly through the funds’ website or by phone.
10-K for FY2025, filed Dec 3, 2025Investors may purchase shares of the Hennessy Funds through financial institutions, including fund supermarkets, national wirehouses and…View ↗
Investors may also purchase shares of the Hennessy Mutual Funds directly through the Hennessy Funds’ website or by calling us or U.S. Bank…View ↗
We provide service to over 183,000 fund accounts nationwide, including accounts held by investors who employ financial advisors to assist…View ↗
Do Revenues Turn Into Profits?
Yes. It kept 28 cents of every revenue dollar as net income in FY2025 and turned 38 cents into free cash flow.
10-K for FY2025, filed Dec 3, 2025
$13.1MView ↗
10-K for FY2025, filed Dec 3, 2025
$10MView ↗
10-K for FY2025, filed Dec 3, 2025
$13.4MView ↗
How Are They Changing?
10-Q for Q3 FY2026, filed Aug 5, 2026
Open tableView ↗
Growing. Revenue grew 8% in 4 years, from $32.8M in FY2021 to $35.5M in FY2025, about 2% a year.
Adds an exchange-traded fund
The older report describes a family of open-end mutual funds; the latest describes investment advisory services for mutual funds and an exchange-traded fund.
10-K for FY2022, filed Dec 7, 2022 10-K for FY2025, filed Dec 3, 2025Hennessy Advisors, Inc. (the “Company,” “we,” “us,” or “our”) is a publicly traded investment management firm whose primary business…View ↗
Hennessy Advisors, Inc. (the “Company,” “we,” “us,” or “our”) is a publicly traded investment management firm whose primary business…View ↗
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