Hennessy Advisors, Inc. is an investment management company. The Company's business activity is managing, servicing and marketing open-end mutual funds branded as the Hennessy Funds. The Company provides investment advisory services and shareholder services to the Hennessy Funds. Its investment advisory services include managing the composition of each fund's portfolio, including the purchase, retention and disposition of portfolio securities in accordance with the Fund's investment objectives, policies and restrictions; conducting investment research, and monitoring compliance with each fund's investment restrictions and applicable laws and regulations. It also includes overseeing the selection and continued employment of sub-advisors and monitoring such sub-advisors' investment performance and adherence to investment policies and compliance procedures. The Company manages 16 mutual funds that are categorized as Domestic Equity, Multi-Asset Funds, and Sector and Specialty.