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Hennessy Japan Fund (Trade, Portfolio), known for its strategic investments in Japanese stocks, has announced its N-PORT application for the first quarter of 2024. Established on October 31, 2003, this fund specializes in long-term capital growth and focuses on stocks of Japanese companies. Hennessy’s investment philosophy is rooted in a combination of quantitative stock selection and a disciplined team management approach. The fund focuses on market growth potential, quality of earnings and balance sheet strength, targeting companies with strong management and attractive valuations. By identifying the difference between a company’s market price and its fundamental value, the Fund aims to take advantage of arbitrage opportunities and maintain a focused portfolio that reflects management’s best ideas.
Key position rises
During the first quarter of 2024, Hennessy Japan Fund (Trade, Portfolio) added a total of 12 stocks. Some notable increases include:
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Sompo Holdings, Inc. (TSE: 8630) added 134,100 shares for a total of 287,600 shares. This adjustment increases his number of shares by 87.36% and gives him a 2.06% impact on his current portfolio (worth 14,912,480 yen).
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Added 160,400 shares to MS&AD Insurance Group Holdings Co., Ltd. (TSE: 8725) for a total of 361,300 shares. This represents his 79.84% increase in the number of shares, whose value is equivalent to 14,919,800 yen.
Overview of sold out positions
The Fund also completely sold its holdings in two companies:
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MISUMI Group, Inc. (TSE:9962): All 99,600 shares were sold, impacting the portfolio by -0.54%.
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ROHM Co., Ltd. (TSE:6963): Liquidation of all 29,400 shares had a -0.17% impact on the portfolio.
Reduction of key positions
Hennessy Japan Fund (Trade, Portfolio) reduced positions in 13 stocks, with major changes made to the following stocks:
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Nippon Telegraph and Telephone Corporation (TSE:9432) decreased by 2,832,800 shares, a decrease of -39.72% and a portfolio impact of -1.2%. The average price for the quarter was 175.91 cents, with a return of 7.23% over the past three months and 6.79% year-to-date.
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Terumo Corporation (TSE:4543) decreased by 102,100 shares, a decrease of -73.56%, with a portfolio impact of -1.01%. The average trading price for the quarter was JPY 4,696.11, with a return of -39.65% over the past three months and -39.08% since the beginning of the year.
Portfolio overview
As of Q1 2024, the Hennessy Japan Fund (Trade, Portfolio) portfolio consists of 27 stocks. The top holdings include Hitachi, Ltd. (TSE: 6501) with 7.45%, Mitsubishi Corporation (TSE: 8058) with 6.25%, Shin-Etsu Chemical Co., Ltd. (TSE: 4063) with 5.8%, and Recruit Holdings Co., Ltd. (TSE: 5.51). %)It is included. :6098) and 5.38% for Tokyo Electron Ltd. (TSE:8035). The Fund’s investments are primarily concentrated in eight industries: Financial Services, Industrials, Technology, Consumer Defense, Basic Materials, Communications Services, Healthcare, and Consumer Cyclicals.
This article created by GuruFocus is intended to provide general insight and is not intended as financial advice. Our commentary is based on historical data and analyst forecasts using an unbiased methodology and is not intended to serve as specific investment guidance. It does not constitute a recommendation to buy or sell stocks, and does not take into account your individual investment objectives or financial situation. Our objective is to provide fundamental data-driven analysis over time. Please note that our analysis may not incorporate the latest announcements or qualitative information from price-sensitive companies. GuruFocus has no position in the stocks mentioned herein.
This article first appeared on GuruFocus.
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