What is the 13F Pro Quality Score for HNNA?

13F Pro ranks HENNESSY ADVISORS INC (HNNA) on the 13F Pro Quality Score, a 0–100 composite of 32 fundamental signals including return on invested capital, free cash flow consistency, balance-sheet strength, earnings quality, growth durability, and valuation discipline. The score refreshes after each 10-K and 10-Q filing on SEC EDGAR. View HNNA's current score at https://13fpro.ai/research/HNNA (free sign-up required for the full ranking).

Where does 13F Pro source HNNA data?

All HENNESSY ADVISORS INC fundamentals and ownership data come directly from SEC EDGAR. HENNESSY ADVISORS INC files with the SEC under CIK 1145255. 13F Pro ingests XBRL financial facts from 10-K and 10-Q filings, Form 13F-HR institutional holdings, and Form 4 insider transactions, with no third-party rewrites or estimates.

What sector is HNNA in?

HENNESSY ADVISORS INC (HNNA) is classified in the Financials sector. 13F Pro publishes sector-level fund flow analysis and quality leaders at https://13fpro.ai/research/sector/financials.

How often is HNNA research updated on 13F Pro?

HNNA's fundamentals refresh within hours of each new 10-K or 10-Q filing on SEC EDGAR. Institutional ownership updates after each quarterly 13F filing window. Insider transactions update after each Form 4 filing. The 13F Pro Quality Score recalculates after every fundamentals refresh.

HENNESSY ADVISORS INC(HNNA)Stock Analysis

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13F Pro Quality Score

48.5/100

Rank #1,553 of 2,879 stocks

View Financials peers →

Rankings refresh quarterly once 80% of peers have filed (~45 days after quarter-end). Next update: ~Aug 14, 2026.

Revenue Growth

7.2/100

Profitability

87.4/100

Balance Sheet

71.6/100

Earnings Quality

10.4/100

Free Cash Flow

86.4/100

Institutional Flow

50.5/100

Revenue Scale

8.3/100

Dilution Risk

32.6/100

HNNA Stock Analysis & AI Quality Score

AI stock analysis and institutional research for HENNESSY ADVISORS INC (HNNA), a Financials sector company. 13F Pro's AI-powered ranking engine scores HNNA at 48.5/100 on a 32-signal composite quality model, placing it at rank #1,553 of 2,879 stocks — the bottom half of the AI-ranked universe. HNNA scores in the top quartile across profitability (87.4), free cash flow (86.4). Areas of concern include revenue growth (7.2) and revenue scale (8.3), which score below median versus the broader universe. Shareholder dilution risk is elevated at 32.6/100, reflecting ongoing share issuance or stock-based compensation. Based on the latest XBRL financial filings (Q2 2026), HENNESSY ADVISORS INC reports quarterly revenue of $7.6M, net income of $1.9M, an operating margin of 34.5%. Top institutional holders of HNNA by reported 13-F value include VANGUARD CAPITAL MANAGEMENT, Truffle Hound Capital,, AEGIS FINANCIAL, based on the most recent SEC filings. HNNA trades on the Nasdaq exchange and files with the SEC under CIK 1145255. 13F Pro's AI research platform runs 10 specialized AI analysts — value, growth, momentum, macro, and activist specialists — that debate HNNA daily and publish AI-generated analysis with cited SEC sources. The platform aggregates historical XBRL financial facts, 10-Q and 10-K filings, insider Form 4 transactions, and institutional 13-F holdings for HENNESSY ADVISORS INC directly from SEC EDGAR. HENNESSY ADVISORS INC's 13F Pro composite quality score has ranged between 41 and 71 since 2021, currently 48.5 — a stable long-term trajectory across 28 quarterly and live scoring snapshots.

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Fun facts about HENNESSY ADVISORS INC

Quirks, history, and lore behind HNNA — the kind of stuff that makes a stock memorable.

1
The Basics
U.S. financial services company · small-cap · listed on Nasdaq · headquartered in Northern California.
2
The Numbers
Manages roughly $4–5 billion in assets across a focused lineup of mutual funds — tiny by Wall Street standards, but profitable enough to stay independent.
3
The History
Founded in the 1990s, it built its business around actively managed equity funds at a time when indexing was eating everyone's lunch — and kept the faith anyway.
4
The Secret
It's an investment adviser that is itself publicly traded — meaning you can own a slice of the firm that runs the funds you might already own. Very meta.
5
The Lore
Its fund lineup leans heavily toward U.S. small- and mid-cap stocks, and the firm's founder remains closely tied to its identity — a classic founder-led boutique in an age of giants.
6
The Giveaway
Named after its founder Neil Hennessy, this Novato, California asset manager runs a suite of funds bearing that same proud Irish surname.

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Revenue

Q2 2026

$7.6M

Net Income

Q2 2026

$1.9M

Free Cash Flow

Q2 2026

$2.2M

Operating Margin

Q2 2026

34.5%

ROIC

Q2 2026

2.6%

Revenue & Net Income

Earnings Per Share

Key Financials Over Time

Export Financial Table · Pro+

Revenue

+23.4% YoY

$29.6MFY 2024

FY21 $32.8MFY22 $29.7MFY23 $24.0MFY24 $29.6M

Net Income

+48.8% YoY

$7.1MFY 2024

FY21 $7.9MFY22 $6.2MFY23 $4.8MFY24 $7.1M

Operating Income

+40.0% YoY

$8.9MFY 2024

FY21 $10.9MFY22 $9.8MFY23 $6.3MFY24 $8.9M

EPS (Diluted)

+46.0% YoY

$0.92FY 2024

FY21 $1.07FY22 $0.82FY23 $0.63FY24 $0.92

Total Assets

+4.4% YoY

$152.1MFY 2024

FY21 $101.9MFY22 $143.7MFY23 $145.7MFY24 $152.1M

Total Debt

—FY 2024

FY21 —FY22 —FY23 —FY24 —

Op. Cash Flow

+30.0% YoY

$9.3MFY 2024

FY21 $10.4MFY22 $8.7MFY23 $7.1MFY24 $9.3M

Metric	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019
Revenue	$29.6M +23.4%	$24.0M -19.0%	$29.7M -9.4%	$32.8M -1.9%	$33.4M -21.8%	$42.7M
Net Income	$7.1M +48.8%	$4.8M -22.9%	$6.2M -21.7%	$7.9M +0.8%	$7.8M -28.9%	$11.0M
Operating Income	$8.9M +40.0%	$6.3M -35.6%	$9.8M -9.6%	$10.9M -3.9%	$11.3M -29.3%	$16.0M
EPS (Diluted)	$0.92 +46.0%	$0.63 -23.2%	$0.82 -23.4%	$1.07 +0.9%	$1.06 -25.4%	$1.42
Total Assets	$152.1M +4.4%	$145.7M +1.4%	$143.7M +41.0%	$101.9M +7.5%	$94.8M -14.0%	$110.2M
Total Debt	—	—	—	—	—	$17.4M
Operating Cash Flow	$9.3M +30.0%	$7.1M -17.7%	$8.7M -16.6%	$10.4M -2.2%	$10.6M -26.2%	$14.4M

AI Insight: HNNA Financial Trends

HNNA stabilized at $8M quarterly revenue with consistent profitability after a sharp Q3 2024 dip, while equity steadily builds toward $100M.

• Revenue recovered from a $3M trough in Q3 2024 to a steady $8–$9M range through Q1 2026.

• Operating income swung from -$1M in Q3 2024 to a consistent $3M per quarter from Q4 2024 onward.

• Equity has grown steadily from $88M in Q3 2023 to $100M in Q1 2026 with no reported debt.

⚠ Operating cash flow declined to $1M in Q4 2025 versus $4M in Q1–Q2 2025, a notable intra-year drop.

⚠ Revenue has plateaued at $8M for three consecutive quarters — watch for signs of AUM-driven growth resumption.

AI Insight: HNNA Ratio Trends

HNNA's profitability rebounded sharply after a Q3 2024 loss but margins and returns have softened steadily through Q4 2025.

• Operating margin collapsed to -48.4% in Q3 2024 but recovered dramatically to 39.5% in Q4 2024, signaling a one-off disruption.

• Since peaking at 39.5% in Q4 2024, operating margin has declined four consecutive quarters to 31.3% in Q4 2025.

• ROIC peaked at 16.4% in Q4 2024 and has contracted to 10.5% in Q4 2025, a 590bp deterioration over three quarters.

• ROE dropped from 12.1% in Q4 2024 to 7.8% in Q4 2025, approaching levels last seen in Q2–Q3 2023.

⚠ Consistent margin compression across OpMargin, NPM, ROE, and ROIC since Q4 2024 suggests structural, not seasonal, pressure.

⚠ D/E data is entirely absent across all periods — leverage trajectory cannot be assessed.

⚠ Whether Q3 2024's loss was truly one-off or signals recurring volatility warrants close monitoring in future quarters.

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Available Research

13F Pro tracks comprehensive data for HENNESSY ADVISORS INC including:

SEC EDGAR filings (10-K, 10-Q, 8-K)

XBRL financial facts (revenue, EPS, margins)

Insider transactions (Form 4)

Institutional 13F holdings

Quality rankings (32 signals)

AI analyst debates & daily meetings

Historical financial trends

Peer comparison & sector analysis

Top Institutional Holders of HNNA

VANGUARD CAPITAL MANAGEMENT LLC
$2.3M238,856 sh
Truffle Hound Capital, LLC
$1.9M200,000 sh
AEGIS FINANCIAL CORP
$1.4M141,353 sh
RENAISSANCE TECHNOLOGIES LLC
$975.9K100,088 sh
Allworth Financial LP
$793.5K81,380 sh
Perigon Wealth Management, LLC
$622.0K63,798 sh
DIMENSIONAL FUND ADVISORS LP
$513.6K52,677 sh
GEODE CAPITAL MANAGEMENT, LLC
$500.3K51,302 sh
NORTHERN TRUST CORP
$274.0K28,105 sh
VANGUARD FIDUCIARY TRUST CO
$267.1K27,391 sh

Fund	Value	Shares
VANGUARD CAPITAL MANAGEMENT LLC	$2.3M	238,856
Truffle Hound Capital, LLC	$1.9M	200,000
AEGIS FINANCIAL CORP	$1.4M	141,353
RENAISSANCE TECHNOLOGIES LLC	$975.9K	100,088
Allworth Financial LP	$793.5K	81,380
Perigon Wealth Management, LLC	$622.0K	63,798
DIMENSIONAL FUND ADVISORS LP	$513.6K	52,677
GEODE CAPITAL MANAGEMENT, LLC	$500.3K	51,302
NORTHERN TRUST CORP	$274.0K	28,105
VANGUARD FIDUCIARY TRUST CO	$267.1K	27,391

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Is HNNA a good stock to buy?

13F Pro's AI-powered analysis of HENNESSY ADVISORS INC (HNNA) draws on SEC EDGAR-sourced fundamentals, institutional 13F holdings, and insider Form 4 transactions in the Financials sector (listed on Nasdaq). The 32-signal AI Quality Score, current rank, and full bull/bear verdict for HNNA are available on the HNNA stock profile dashboard — with the same data, AI insights, ratios, and institutional activity refreshed after every 10-K, 10-Q, 13F, and Form 4 filing.

Which hedge funds own HNNA?

Institutional investors are required to disclose their holdings quarterly via SEC Form 13F. 13F Pro aggregates these filings to show which hedge funds, mutual funds, and asset managers are buying or selling HNNA. Combined with insider transaction data from Form 4 filings and AI-powered analysis from 10 specialized research agents, 13F Pro provides a comprehensive view of HENNESSY ADVISORS INC's investment landscape.