Fund Evaluator:

Hennessy Large Cap Financial Investor Overview

Hennessy Large Cap Financial Investor (HLFNX) is an actively managed Sector Equity Financial fund. Hennessy launched the fund in 1997.

The investment seeks capital appreciation. The fund invests primarily in companies whose securities are listed on U.S. national securities exchanges, including through American Depositary Receipts (“ADRs”), which are U.S. dollar-denominated securities of foreign issuers listed on U.S. national securities exchanges. It invests at least 80% of its net assets in securities of large-cap companies principally engaged in the business of providing financial services, including information technology companies that are primarily engaged in providing products or services to financial services companies. The fund is non-diversified.

About Hennessy Large Cap Financial Investor (HLFNX)

There are 2 members of the management team with an average tenure of 21.47 years: Ryan Kelley (2013), David Ellison (1997). Management tenure is more important for actively managed funds than passive index funds.

The fund has 2 primary benchmarks: Russell 1000 TR USD index with a weighting of 100% and Russell 1000 Ind/Fncls TR USD index with a weighting of 100%. Hennessy Large Cap Financial Investor has 28 securities in its portfolio. The top 10 holdings constitute 61.6% of the fund’s assets. The fund meets the SEC requirement of being classified as a nondiversified fund. The fund is not considered to have an ESG focus with its investment selection and management.

Hennessy Large Cap Financial Investor is part of the Equity global asset class and is within the Sector Equity fund group. Hennessy Large Cap Financial Investor has 0.0% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 98.7%. There is 0.0% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 0.0% (0.0% domestic bond, 0.0% foreign bond and 0.0% convertible bond). Hennessy Large Cap Financial Investor has 1.3% of the portfolio in cash.

Assets Under Management

The fund has $22 million in total assets, which is below the $197 million average for the Financial category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.

HLFNX Performance and Fees

The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The Hennessy Large Cap Financial Investor expense ratio is high compared to funds in the Financial category. Hennessy Large Cap Financial Investor has an expense ratio of 1.88%, which is 42% higher than its category average, making the fund expense ratio grade a F. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.

High portfolio turnover can translate to higher expenses and lower aftertax returns. Hennessy Large Cap Financial Investor has a portfolio turnover rate of 48%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 80% for the Financial category.

Recently, in the month of July 2026, Hennessy Large Cap Financial Investor returned 3.7%, which earned it a grade of D, as the Financial category had an average return of 4.1%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all funds in that category.

Hennessy Large Cap Financial Investor has a trailing yield of 0.00%, which is below the 1.01% category average. The fund normally distributes its income annually and its capital gains annually.

It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.

Hennessy Large Cap Financial Investor Grades

Year to date, the fund has returned 3.4%, 5.5 percentage points worse than the category, which translates into a grade of F. The fund has returned 7.6% over the past year (grade of F), 19.5% over the past three years (grade of D) and 5.0% per year over the past five years (grade of F) and 11.8% per year over the past 10 years (grade of C).

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