Firm profile

Hennessy Advisors, Inc..

NOVATO, CACRD 110770Registration Status: ApprovedEffective since April 2, 1990SEC # 801-36288Latest ADV November 14, 2025

Hennessy Advisors, Inc. is an SEC registered investment adviser organized as a corporation with a primary office location in Novato, CA. Its latest Form ADV filing, dated November 14, 2025, reports $4.3B in regulatory assets under management, 19 employees, 4 offices, and 17 accounts.

Assets Under Management
$4.3B
Employees
19
Offices
4 offices
Total Clients
17

Associated firm names

2 names listed
  • HENNESSY ADVISORS, INC.
  • HENNESSY EDWARD J INC

Leadership

4 roles identified
CEONeil J. Hennessy
CCOBrian C. Carlson
CFOKathryn R. Fahy

Advisory services offered

1 types reported
Portfolio management for investment companies

Fee models offered

1 types reported
Asset based fees

Offices & Contact

Primary office

NOVATO, California, United States

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Primary office regionOther reported regions

Shading shows states and countries with reported offices. Cities are listed below; shading does not indicate service coverage.

California

NOVATOPrimary office

Massachusetts

BOSTON

North Carolina

CHAPEL HILL

Texas

DALLAS

4 office records listed · 4 total offices reported. Counts can use different reporting dates. SEC filers may list only their largest 25 additional offices.

Contact and digital presence

ADV profile links

Regulatory Assets Under Management Breakdown

Total regulatory assets under management$4.3Bas of November 14, 2025
Discretionary100.0%
$4.3B
100% of total RAUM100.0%
Non-discretionary0.0%
$0
0% of total RAUM0.0%
All regulatory assets under management are discretionary.

Client Coverage Demographics

Top client segmentInvestment Cos. represent 100.0% of total clients.
Top client categories% of clientsClients
1
Investment Cos.
100.0%
17

Assets under management Growth by Quarter

Quarterly points use the latest ADV filing or SEC roster snapshot available in each quarter.

Total AUM$4.3B
Total Accounts17
10Y AUM Change$-2.2B (-33.7%)

Private Funds

Private funds reported by Hennessy Advisors, Inc..

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Employee Growth by Quarter

Quarterly points use the latest ADV filing or SEC roster snapshot available in each quarter.

Total Employees19
Clients per Employee1:1
10Y Employee Change-3 (-13.6%)

Historical AUM and employee figures reflect available SEC Form ADV filings under this CRD. Filing gaps may reflect registration status changes, dormant periods, state registration periods, firm restructuring, or other reporting changes. Rialytix does not interpolate missing periods.


Ownership

Reported direct and indirect ownership ranges

Each range applies to a separate reported relationship and should not be added together.

Reported ownership ranges

Highlighted bands show the percentage range reported in Form ADV.

0%25%50%75%100%
NEIL JOSEPH HENNESSYDirect owner · Schedule AInterest in HENNESSY ADVISORS, INC.
25% to < 50%
TERESA MARIANI NILSENDirect owner · Schedule AInterest in HENNESSY ADVISORS, INC.
< 5%
BRIAN ANTHONY HENNESSYDirect owner · Schedule AInterest in HENNESSY ADVISORS, INC.
< 5%
DANIEL BRUCE STEADMANDirect owner · Schedule AInterest in HENNESSY ADVISORS, INC.
< 5%
THOMAS LAWRENCE SEAVEYDirect owner · Schedule AInterest in HENNESSY ADVISORS, INC.
< 5%
HENRY CURTIS HANSELDirect owner · Schedule AInterest in HENNESSY ADVISORS, INC.
< 5%
JENNIFER LYNN EMERSONDirect owner · Schedule AInterest in HENNESSY ADVISORS, INC.
< 5%
SUSAN WEBER POMILIADirect owner · Schedule AInterest in HENNESSY ADVISORS, INC.
< 5%
BRIAN CAMERON CARLSONDirect owner · Schedule AInterest in HENNESSY ADVISORS, INC.
< 5%
KATHRYN ROSE FAHYDirect owner · Schedule AInterest in HENNESSY ADVISORS, INC.
< 5%
Lydia Dawn Knight-O'RiordanDirect owner · Schedule AInterest in HENNESSY ADVISORS, INC.
< 5%
Kiera Markale NewtonDirect owner · Schedule AInterest in HENNESSY ADVISORS, INC.
< 5%

Bars represent the reported range at that individual ownership step, not an estimated percentage of the advisory firm. Indirect relationships may refer to intermediate entities rather than directly to Hennessy Advisors, Inc...

No indirect ownership information reported in the source’s Schedule B.

Reported ownership and control details

Form ADV · Filing date 2025-11-14 · Schedules A and B

12 entries
#Owner / person & roleInterest in entityReported interestControl personTitle / status acquiredSource
1NEIL JOSEPH HENNESSYCHAIRMAN, CHIEF EXECUTIVE OFFICER & SHAREHOLDERIndividualHENNESSY ADVISORS, INC.25% to less than 50%Code CYesCHAIRMAN, CHIEF EXECUTIVE OFFICER & SHAREHOLDER01/2018Schedule APDF page 20
2TERESA MARIANI NILSENPRESIDENT, CHIEF OPERATING OFFICER, CORPORATE SECRETARY, DIRECTOR & SHAREHOLDERIndividualHENNESSY ADVISORS, INC.Less than 5%Code NAYesPRESIDENT, CHIEF OPERATING OFFICER, CORPORATE SECRETARY, DIRECTOR & SHAREHOLDER01/2018Schedule APDF page 20
3BRIAN ANTHONY HENNESSYDIRECTOR & SHAREHOLDERIndividualHENNESSY ADVISORS, INC.Less than 5%Code NAYesDIRECTOR & SHAREHOLDER02/1989Schedule APDF page 20
4DANIEL BRUCE STEADMANEXECUTIVE VICE PRESIDENT & SHAREHOLDERIndividualHENNESSY ADVISORS, INC.Less than 5%Code NAYesEXECUTIVE VICE PRESIDENT & SHAREHOLDER12/2022Schedule APDF page 20
5THOMAS LAWRENCE SEAVEYDIRECTOR & SHAREHOLDERIndividualHENNESSY ADVISORS, INC.Less than 5%Code NAYesDIRECTOR & SHAREHOLDER05/2001Schedule APDF page 20
6HENRY CURTIS HANSELDIRECTOR & SHAREHOLDERIndividualHENNESSY ADVISORS, INC.Less than 5%Code NAYesDIRECTOR & SHAREHOLDER05/2001Schedule APDF page 20
7JENNIFER LYNN EMERSONGENERAL COUNSEL & SHAREHOLDERIndividualHENNESSY ADVISORS, INC.Less than 5%Code NANoGENERAL COUNSEL & SHAREHOLDER06/2013Schedule APDF page 20
8SUSAN WEBER POMILIADIRECTOR & SHAREHOLDERIndividualHENNESSY ADVISORS, INC.Less than 5%Code NAYesDIRECTOR & SHAREHOLDER04/2014Schedule APDF page 20
9BRIAN CAMERON CARLSONCHIEF COMPLIANCE OFFICER, SENIOR VICE PRESIDENT & SHAREHOLDERIndividualHENNESSY ADVISORS, INC.Less than 5%Code NANoCHIEF COMPLIANCE OFFICER, SENIOR VICE PRESIDENT & SHAREHOLDER01/2018Schedule APDF page 20
10KATHRYN ROSE FAHYCHIEF FINANCIAL OFFICER, SENIOR VICE PRESIDENT & SHAREHOLDERIndividualHENNESSY ADVISORS, INC.Less than 5%Code NAYesCHIEF FINANCIAL OFFICER, SENIOR VICE PRESIDENT & SHAREHOLDER01/2018Schedule APDF page 20
11Lydia Dawn Knight-O'RiordanDIRECTOR & SHAREHOLDERIndividualHENNESSY ADVISORS, INC.Less than 5%Code NAYesDIRECTOR & SHAREHOLDER12/2021Schedule APDF page 20
12Kiera Markale NewtonDIRECTOR & SHAREHOLDERIndividualHENNESSY ADVISORS, INC.Less than 5%Code NAYesDIRECTOR & SHAREHOLDER12/2022Schedule APDF page 20

Less than 5% may include zero. Code F identifies a role without specifying a percentage. Reported interests may overlap and may not include every owner. Total indirect ownership is not calculated.

Compliance & Disclosures

Filing dated 11/14/2025 10:09:05 AM

Responses were selected by the RIA in its filing. Questions are shortened for readability; “you” refers to the reporting firm, and some questions also cover advisory affiliates.

RIA or supervised-person involvementThe RIA reported that none of the events below involve the firm or its supervised persons.RIA responseNo
AFelonies2 No

In the past ten years, have you or any advisory affiliate:

  • A1Been convicted of or pleaded guilty or no contest to a felony?No
  • A2Been charged with a felony?No
BMisdemeanors2 No

In the past ten years, have you or any advisory affiliate:

  • B1Been convicted of or pleaded guilty or no contest to a misdemeanor involving investments, an investment-related business, fraud, false statements or omissions, wrongful taking of property, bribery, perjury, forgery, counterfeiting, or extortion?No
  • B2Been charged with a misdemeanor of the kind listed above?No
CSEC or CFTC actions5 No

Has the SEC or CFTC ever:

  • C1Found you or an advisory affiliate made a false statement or omission?No
  • C2Found you or an advisory affiliate violated SEC or CFTC regulations or statutes?No
  • C3Found you or an advisory affiliate caused an investment-related business to have its authorization to do business denied, suspended, revoked, or restricted?No
  • C4Entered an order against you or an advisory affiliate in connection with investment-related activity?No
  • C5Imposed a civil money penalty on you or an advisory affiliate, or ordered you or an advisory affiliate to cease and desist from any activity?No
DOther regulatory actions5 No

Has any other federal regulatory agency, state regulatory agency, or foreign financial regulatory authority ever:

  • D1Found you or an advisory affiliate made a false statement or omission, or was dishonest, unfair, or unethical?No
  • D2Found you or an advisory affiliate violated investment-related regulations or statutes?No
  • D3Found you or an advisory affiliate caused an investment-related business to have its authorization to do business denied, suspended, revoked, or restricted?No
  • D4In the past ten years, entered an order against you or an advisory affiliate in connection with investment-related activity?No
  • D5Denied, suspended, or revoked your or an advisory affiliate’s registration or license, or otherwise prevented association with an investment-related business or restricted activities?No
ESelf-regulatory organization actions4 No

Has a self-regulatory organization or commodities exchange ever:

  • E1Found you or an advisory affiliate made a false statement or omission?No
  • E2Found you or an advisory affiliate violated its rules, other than a violation designated as a minor rule violation under an SEC-approved plan?No
  • E3Found you or an advisory affiliate caused an investment-related business to have its authorization to do business denied, suspended, revoked, or restricted?No
  • E4Disciplined you or an advisory affiliate by expulsion, suspension, barring association with other members, or otherwise restricting activities?No
FProfessional authorizations1 No
  • FHas an authorization to act as an attorney, accountant, or federal contractor granted to you or an advisory affiliate ever been revoked or suspended?No
GPending regulatory proceedings1 No
  • GAre you or any advisory affiliate now the subject of a regulatory proceeding that could result in a “Yes” answer to any part of C, D, or E?No
HCivil judicial actions and proceedings4 No

(1) Court actions

Has a domestic or foreign court:

  • H(1)(a)In the past ten years, enjoined you or an advisory affiliate in connection with investment-related activity?No
  • H(1)(b)Found that you or an advisory affiliate violated investment-related statutes or regulations?No
  • H(1)(c)Dismissed, pursuant to a settlement agreement, an investment-related civil action brought against you or an advisory affiliate by a state or foreign financial regulatory authority?No

(2) Pending civil proceedings

  • H(2)Are you or any advisory affiliate now the subject of a civil proceeding that could result in a “Yes” answer to any part of H(1)?No

* Metrics are based on the latest available data, including Form ADV filings, brochures, and relationship summaries pulled from the SEC IAPD, and may be subject to change. Learn what is included in the Rialytix data. Please refer to the firm's official disclosures for the most accurate information using their CRD number. This is not investment advice.