Hennessy Focus Fund Institutional Class 

The fund's primary investment strategy is directed towards U.S.-based companies whose securities are publicly traded on national exchanges within the United States. Beyond this core focus, the fund retains the option to acquire holdings in international companies. This encompasses foreign firms whose shares are already traded on U.S. national securities exchanges. It can also invest in overseas businesses through American Depositary Receipts (ADRs) or similar depositary instruments, which represent U.S. dollar-denominated securities from foreign issuers that are also listed on U.S. national exchanges. Additionally, the fund may seek opportunities in foreign enterprises whose securities are traded exclusively on non-U.S. exchanges. It operates as a non-diversified investment vehicle.