Hennessy Japan Small Cap Fund
|
||||||||||||
Schedule of Investments
|
||||||||||||
January 31, 2022 (Unaudited)
|
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|
||||||||||||
|
||||||||||||
|
Number of
|
% of
|
||||||||||
|
Shares
|
Value
|
Net Assets
|
|||||||||
COMMON STOCKS - 91.75%
|
||||||||||||
Communication Services - 2.59%
|
||||||||||||
Macromill, Inc.
|
116,500
|
$
|
1,123,468
|
1.09
|
%
|
|||||||
Septeni Holdings Co., Ltd.
|
422,200
|
1,546,264
|
1.50
|
%
|
||||||||
|
2,669,732
|
2.59
|
%
|
|||||||||
Consumer Discretionary - 11.25%
|
||||||||||||
Benesse Holdings, Inc.
|
75,000
|
1,462,667
|
1.42
|
%
|
||||||||
Matsuoka Corp.
|
57,900
|
597,049
|
0.58
|
%
|
||||||||
Musashi Seimitsu Industry Co., Ltd.
|
112,700
|
1,697,686
|
1.65
|
%
|
||||||||
NGK Spark Plug Co., Ltd.
|
103,500
|
1,759,492
|
1.71
|
%
|
||||||||
Nojima Corp.
|
57,500
|
1,159,574
|
1.12
|
%
|
||||||||
Sac's Bar Holdings, Inc.
|
234,100
|
1,058,890
|
1.03
|
%
|
||||||||
Saizeriya Co., Ltd.
|
79,800
|
1,845,314
|
1.79
|
%
|
||||||||
Seiren Co., Ltd.
|
106,400
|
2,011,673
|
1.95
|
%
|
||||||||
|
11,592,345
|
11.25
|
%
|
|||||||||
Consumer Staples - 2.79%
|
||||||||||||
Cosmos Pharmaceutical Corp.
|
6,500
|
811,752
|
0.79
|
%
|
||||||||
Nishimoto Co., Ltd.
|
61,800
|
1,557,211
|
1.51
|
%
|
||||||||
Yoshimura Food Holdings KK (a)
|
118,900
|
507,337
|
0.49
|
%
|
||||||||
|
2,876,300
|
2.79
|
%
|
|||||||||
Energy - 1.74%
|
||||||||||||
Iwatani Corp.
|
38,100
|
1,796,175
|
1.74
|
%
|
||||||||
|
||||||||||||
Financials - 3.85%
|
||||||||||||
AEON Financial Service Co., Ltd.
|
110,500
|
1,159,740
|
1.13
|
%
|
||||||||
Aruhi Corp.
|
90,600
|
908,805
|
0.88
|
%
|
||||||||
Lifenet Insurance Co. (a)
|
30,900
|
174,417
|
0.17
|
%
|
||||||||
Musashino Bank Ltd.
|
107,000
|
1,720,455
|
1.67
|
%
|
||||||||
|
3,963,417
|
3.85
|
%
|
|||||||||
Health Care - 3.72%
|
||||||||||||
Nihon Kohden Corp.
|
74,700
|
1,981,268
|
1.92
|
%
|
||||||||
Ship Healthcare Holdings, Inc.
|
82,500
|
1,851,701
|
1.80
|
%
|
||||||||
|
3,832,969
|
3.72
|
%
|
|||||||||
Industrials - 34.37%
|
||||||||||||
Benefit One, Inc.
|
47,700
|
1,450,717
|
1.41
|
%
|
||||||||
Creek & River Co., Ltd.
|
117,100
|
1,830,260
|
1.78
|
%
|
||||||||
Daihen Corp.
|
31,600
|
1,129,300
|
1.10
|
%
|
||||||||
Fugi Corp.
|
68,100
|
1,571,955
|
1.52
|
%
|
||||||||
Glory Ltd.
|
52,400
|
985,366
|
0.96
|
%
|
||||||||
Hanwa Co., Ltd.
|
73,500
|
2,018,483
|
1.96
|
%
|
||||||||
Hito Communications Holdings, Inc.
|
116,000
|
2,092,383
|
2.03
|
%
|
||||||||
Kawada Technologies, Inc.
|
16,500
|
556,860
|
0.54
|
%
|
||||||||
Kito Corp.
|
129,500
|
1,934,875
|
1.88
|
%
|
||||||||
MIRAIT Holdings Corp.
|
122,700
|
2,037,048
|
1.98
|
%
|
||||||||
Mitsubishi Logisnext Co., Ltd.
|
160,200
|
1,391,558
|
1.35
|
%
|
||||||||
Nichiha Corp.
|
60,700
|
1,500,595
|
1.46
|
%
|
||||||||
Nihon Flush Co., Ltd.
|
51,300
|
470,104
|
0.46
|
%
|
||||||||
Nippon Koei Co., Ltd.
|
78,200
|
2,030,639
|
1.97
|
%
|
||||||||
Sato Holdings Corp.
|
96,600
|
1,703,634
|
1.65
|
%
|
||||||||
SBS Holdings, Inc.
|
65,400
|
2,017,279
|
1.96
|
%
|
||||||||
Senko Group Holdings Co., Ltd.
|
130,500
|
1,047,907
|
1.02
|
%
|
||||||||
Tadano Ltd.
|
130,000
|
1,137,068
|
1.10
|
%
|
||||||||
Tanseisha Co., Ltd.
|
203,900
|
1,279,991
|
1.24
|
%
|
||||||||
Tocalo Co., Ltd.
|
150,700
|
1,831,320
|
1.78
|
%
|
||||||||
TRE Holdings Corp.
|
174,900
|
2,207,316
|
2.14
|
%
|
||||||||
Tsubakimoto Chain Co.
|
61,900
|
1,733,508
|
1.68
|
%
|
||||||||
Ushio, Inc.
|
93,000
|
1,445,260
|
1.40
|
%
|
||||||||
|
35,403,426
|
34.37
|
%
|
|||||||||
Information Technology - 19.13%
|
||||||||||||
Bell System24 Holdings, Inc.
|
92,100
|
1,137,419
|
1.10
|
%
|
||||||||
Digital Garage, Inc.
|
45,100
|
1,595,538
|
1.55
|
%
|
||||||||
Elecom Co., Ltd.
|
121,900
|
1,475,393
|
1.43
|
%
|
||||||||
Macnica Fuji Electronics Holdings, Inc.
|
77,200
|
1,708,049
|
1.66
|
%
|
||||||||
Mimaki Engineering Co., Ltd.
|
271,500
|
1,882,300
|
1.83
|
%
|
||||||||
Nihon Unisys Ltd.
|
70,800
|
1,862,594
|
1.81
|
%
|
||||||||
Nippon Signal Company, Ltd.
|
155,000
|
1,207,622
|
1.17
|
%
|
||||||||
Poletowin Pitcrew Holdings, Inc.
|
159,900
|
1,311,555
|
1.27
|
%
|
||||||||
SIIX Corp.
|
137,900
|
1,571,998
|
1.53
|
%
|
||||||||
Towa Corp.
|
82,800
|
1,872,720
|
1.82
|
%
|
||||||||
Transcosmos, Inc.
|
71,100
|
1,812,072
|
1.76
|
%
|
||||||||
Yamaichi Electronics Co., Ltd.
|
125,600
|
2,271,381
|
2.20
|
%
|
||||||||
|
19,708,641
|
19.13
|
%
|
|||||||||
Materials - 8.57%
|
||||||||||||
Asia Pile Holdings Corp.
|
423,300
|
1,628,654
|
1.58
|
%
|
||||||||
Kyoei Steel Ltd.
|
138,200
|
1,878,216
|
1.82
|
%
|
||||||||
Rengo Co., Ltd.
|
226,100
|
1,687,195
|
1.64
|
%
|
||||||||
Sanyo Chemical Industries Ltd.
|
45,000
|
2,050,577
|
1.99
|
%
|
||||||||
Tokyo Ohka Kogyo Co., Ltd.
|
26,700
|
1,581,621
|
1.54
|
%
|
||||||||
|
8,826,263
|
8.57
|
%
|
|||||||||
Real Estate - 2.93%
|
||||||||||||
Star Mica Holdings Co., Ltd.
|
144,100
|
1,742,960
|
1.69
|
%
|
||||||||
Tosei Corp.
|
138,700
|
1,269,884
|
1.24
|
%
|
||||||||
|
3,012,844
|
2.93
|
%
|
|||||||||
Utilities - 0.81%
|
||||||||||||
EF-ON, Inc.
|
179,900
|
831,951
|
0.81
|
%
|
||||||||
Total Common Stocks (Cost $89,758,056)
|
94,514,063
|
91.75
|
%
|
|||||||||
|
||||||||||||
SHORT-TERM INVESTMENTS - 7.75%
|
||||||||||||
Money Market Funds - 7.75%
|
||||||||||||
First American Government Obligations Fund, Institutional Class, 0.03% (b)
|
4,997,175
|
4,997,175
|
4.85
|
%
|
||||||||
First American Treasury Obligations Fund, Institutional Class, 0.01% (b)
|
2,987,145
|
2,987,145
|
2.90
|
%
|
||||||||
Total Short-Term Investments (Cost
$7,984,320)
|
7,984,320
|
7.75
|
%
|
|||||||||
|
||||||||||||
Total Investments (Cost $97,742,376) - 99.50%
|
102,498,383
|
99.50
|
%
|
|||||||||
Other Assets in Excess of Liabilities - 0.50%
|
516,498
|
0.50
|
%
|
|||||||||
TOTAL NET ASSETS - 100.00%
|
$
|
103,014,881
|
100.00
|
%
|
Percentages are stated as a percent of net assets.
|
|||||||||||||
|
|||||||||||||
(a)
|
Non-income-producing security.
|
||||||||||||
(b)
|
The rate listed is the fund's seven-day yield as of January 31, 2022.
|
Level 1 – Unadjusted, quoted prices in active markets for identical instruments that the Fund has the ability to access at the date of measurement. | |
Level 2 – Other significant observable inputs (including, but not limited to, quoted prices in active markets for similar instruments, quoted prices in markets that are not active for identical or similar instruments, and model-derived valuations in which all significant inputs and significant value drivers are observable in active markets, such as interest rates, prepayment speeds, credit risk curves, default rates, and similar data). | |
Level 3 – Significant unobservable inputs (including the Fund’s own assumptions about what market participants would use to price the asset or liability based on the best available information) when observable inputs are unavailable. |
Common Stocks
|
Level 1
|
Level 2
|
Level 3
|
Total
|
|||||||||||
Communication Services
|
$
|
–
|
$
|
2,669,732
|
$
|
–
|
$
|
2,669,732
|
|||||||
Consumer Discretionary
|
–
|
11,592,345
|
–
|
11,592,345
|
|||||||||||
Consumer Staples
|
–
|
2,876,300
|
–
|
2,876,300
|
|||||||||||
Energy
|
–
|
1,796,175
|
–
|
1,796,175
|
|||||||||||
Financials
|
–
|
3,963,417
|
–
|
3,963,417
|
|||||||||||
Health Care
|
–
|
3,832,969
|
–
|
3,832,969
|
|||||||||||
Industrials
|
–
|
35,403,426
|
–
|
35,403,426
|
|||||||||||
Information Technology
|
–
|
19,708,641
|
–
|
19,708,641
|
|||||||||||
Materials
|
–
|
8,826,263
|
–
|
8,826,263
|
|||||||||||
Real Estate
|
–
|
3,012,844
|
–
|
3,012,844
|
|||||||||||
Utilities
|
–
|
831,951
|
–
|
831,951
|
|||||||||||
Total Common Stocks
|
$
|
–
|
$
|
94,514,063
|
$
|
–
|
$
|
94,514,063
|
|||||||
|
|||||||||||||||
Short-Term Investments
|
|||||||||||||||
Money Market Funds
|
$
|
7,984,320
|
$
|
–
|
$
|
–
|
$
|
7,984,320
|
|||||||
Total Short-Term Investments
|
$
|
7,984,320
|
$
|
–
|
$
|
–
|
$
|
7,984,320
|
|||||||
|
|||||||||||||||
Total Investments
|
$
|
7,984,320
|
$
|
94,514,063
|
$
|
–
|
$
|
102,498,383
|