LongASTSJun 2026
AST SpaceMobile, Inc.
AST SpaceMobile is building a space-based cellular broadband network designed to connect ordinary smartphones directly. The fund believes AST's broadband capability and…
Hennessy Focus Fund
Concentrated, low-turnover, high-conviction equity strategy focused on long-term earnings compounding.$519M AUM10 published ideas
The Hennessy Focus Fund holds a concentrated portfolio of businesses the managers believe can compound earnings over long periods. The June 2026 commentary emphasizes a barbelled approach combining multi-year AI infrastructure beneficiaries with competitively advantaged businesses whose growth is less dependent on AI. Total fund assets were $519 million as of June 30, 2026. ([Hennessy Funds][6])
Ideas from Hennessy Focus Fund
LongAMATJun 2026
Applied Materials, Inc.
Applied Materials is one of the fund's core holdings tied to the build-out of advanced semiconductor manufacturing. The managers expect the AI infrastructure buildout to be…
LongBNJun 2026
Brookfield Corporation
Brookfield Corporation is positioned by the fund as a direct beneficiary of the physical infrastructure required for AI. The managers cite Brookfield's projection of $7 trillion…
LongBAMJun 2026
Brookfield Asset Management Ltd.
Brookfield Asset Management is positioned by the fund as a direct beneficiary of the physical infrastructure required for AI. The managers cite Brookfield's projection of $7…
LongORLYJun 2026
O'Reilly Automotive, Inc.
O'Reilly Automotive is presented as a durable business whose demand is largely independent of the macroeconomic or political environment. Consumers need to maintain vehicles for…
LongAMATJun 2026
Applied Materials, Inc.
Applied Materials is one of the fund's core holdings tied to the build-out of advanced semiconductor manufacturing. The managers expect the AI infrastructure buildout to be…
LongBNJun 2026
Brookfield Corporation
Brookfield Corporation is positioned by the fund as a direct beneficiary of the physical infrastructure required for AI. The managers cite Brookfield's projection of $7 trillion…
LongASTSJun 2026
AST SpaceMobile, Inc.
AST SpaceMobile is building a space-based cellular broadband network designed to connect ordinary smartphones directly. The fund believes AST's broadband capability and…
LongBAMJun 2026
Brookfield Asset Management Ltd.
Brookfield Asset Management is positioned by the fund as a direct beneficiary of the physical infrastructure required for AI. The managers cite Brookfield's projection of $7…
LongORLYJun 2026
O'Reilly Automotive, Inc.
O'Reilly Automotive is presented as a durable business whose demand is largely independent of the macroeconomic or political environment. Consumers need to maintain vehicles for…
Letters covered
- Hennessy Focus Fund Quarterly CommentaryJune 30, 2026
- Hennessy Focus Fund Quarterly CommentaryJune 30, 2026
Source PDFs are not republished here; only extracted ideas and quotes.