HMSFX: Hennessy BP Midstream Investor

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HMSFX Hennessy BP Midstream Investor


Profile

HMSFX - Profile

Vitals

  • YTD Return -48.5%
  • 3 Yr Annualized Return N/A
  • 5 Yr Annualized Return N/A
  • Net Assets $28.6 M
  • Holdings in Top 10 89.1%

52 WEEK LOW AND HIGH

$5.73
$3.84
$11.56

Expenses

OPERATING RELATED FEES

  • Expense Ratio 1.89%

SALES FEES

  • Front Load N/A
  • Deferred Load N/A

BROKERAGE FEES

  • Turnover 41.00%

TRADING FEES

  • Max Redemption Fee N/A

Min Investment

  • Standard (Taxable) $2,500
  • IRA $250

Fund Classification

  • Primary Caregory
  • Fund Type Open End Mutual Fund
  • Investment Style Energy Limited Partnership

Distributions

  • YTD Total Return -48.5%
  • 3 Yr Annualized Total Return N/A
  • 5 Yr Annualized Total Return N/A
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio -0.79%
DIVIDENDS
  • Dividend Yield 0.0%
  • Dividend Distribution Frequency Quarterly

Fund Details

  • Legal Name
    Hennessy BP Midstream Fund
  • Fund Family Name
    Hennessy
  • Inception Date
    Dec 31, 2013
  • Shares Outstanding
    961149
  • Share Class
    A
  • Currency
    USD
  • Domiciled Country
    United States
  • Manager
    Toby Loftin

Fund Description

Under normal circumstances, the fund invests at least 80% of its net assets, plus any borrowings for investment purposes, in midstream energy infrastructure companies. It invests primarily in master limited partnerships ("MLPs") and common stocks without regard to market capitalization. In addition to the aforementioned principal strategies, the fund may also invest in preferred stocks, warrants, options, equity-like instruments, and debt instruments. It is non-diversified.


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Categories

Performance

HMSFX - Performance

Return Ranking - Trailing

Period HMSFX Return Category Return Low Category Return High Rank in Category (%)
YTD -48.5% -88.0% 162.1% 93.10%
1 Yr -51.6% -89.6% 66250.0% 93.08%
3 Yr N/A* -56.5% 33.7% 71.57%
5 Yr N/A* -44.2% 33.7% 68.89%
10 Yr N/A* -13.8% 33.6% N/A

* Annualized

Return Ranking - Calendar

Period HMSFX Return Category Return Low Category Return High Rank in Category (%)
2019 2.2% -24.2% 71.9% 69.00%
2018 N/A -37.0% 12.7% N/A
2017 N/A -25.3% 59.5% N/A
2016 N/A -15.5% 42.5% N/A
2015 N/A -65.1% 11.8% N/A

Total Return Ranking - Trailing

Period HMSFX Return Category Return Low Category Return High Rank in Category (%)
YTD -48.5% -88.0% 162.1% 93.10%
1 Yr -51.6% -89.6% 66250.0% 93.08%
3 Yr N/A* -56.5% 39.0% 72.58%
5 Yr N/A* -44.2% 36.9% 72.00%
10 Yr N/A* -13.8% 35.3% N/A

* Annualized

Total Return Ranking - Calendar

Period HMSFX Return Category Return Low Category Return High Rank in Category (%)
2019 2.2% -22.9% 71.9% 71.67%
2018 N/A -37.0% 12.7% N/A
2017 N/A -25.3% 68.6% N/A
2016 N/A -15.5% 42.5% N/A
2015 N/A -65.1% 11.8% N/A

NAV & Total Return History


Holdings

HMSFX - Holdings

Concentration Analysis

HMSFX Category Low Category High HMSFX % Rank
Net Assets 28.6 M 105 K 10.6 B 71.83%
Number of Holdings 14 4 1562 83.59%
Net Assets in Top 10 26.7 M -81.1 M 3.11 B 62.23%
Weighting of Top 10 89.08% 14.6% 238.7% 12.17%

Top 10 Holdings

  1. Energy Transfer LP 13.05%
  2. Enterprise Products Partners LP 12.69%
  3. MPLX LP Partnership Units 10.78%
  4. Plains All American Pipeline LP 8.62%
  5. Targa Resources Corp 7.78%
  6. Kinder Morgan Inc Class P 7.76%
  7. Magellan Midstream Partners LP 7.63%
  8. Williams Companies Inc 7.28%
  9. Phillips 66 Partners LP 6.81%
  10. TC Pipelines LP 6.69%

Asset Allocation

Weighting Return Low Return High HMSFX % Rank
Stocks
98.56% 81.39% 325.56% 36.84%
Cash
1.44% -225.56% 20.91% 52.63%
Preferred Stocks
0.00% 0.00% 5.07% 24.15%
Other
0.00% -19.11% 121.77% 22.91%
Convertible Bonds
0.00% 0.00% 15.68% 23.84%
Bonds
0.00% -43.96% 55.72% 27.86%

Stock Sector Breakdown

Weighting Return Low Return High HMSFX % Rank
Energy
100.00% 0.00% 100.00% 0.67%
Utilities
0.00% 0.00% 64.20% 78.93%
Technology
0.00% 0.00% 52.21% 74.25%
Real Estate
0.00% 0.00% 97.46% 69.90%
Industrials
0.00% 0.00% 46.89% 78.60%
Healthcare
0.00% 0.00% 98.20% 73.91%
Financial Services
0.00% 0.00% 35.62% 72.91%
Communication Services
0.00% 0.00% 24.68% 72.24%
Consumer Defense
0.00% 0.00% 21.72% 71.24%
Consumer Cyclical
0.00% 0.00% 37.65% 72.91%
Basic Materials
0.00% 0.00% 16.01% 76.25%

Stock Geographic Breakdown

Weighting Return Low Return High HMSFX % Rank
US
98.56% 80.07% 325.56% 20.43%
Non US
0.00% -3.46% 39.93% 75.85%

Expenses

HMSFX - Expenses

Operational Fees

HMSFX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.89% 0.35% 37.17% 47.80%
Management Fee 1.10% 0.00% 2.64% 72.14%
12b-1 Fee 0.15% 0.00% 1.00% 19.69%
Administrative Fee N/A 0.05% 0.45% N/A

Sales Fees

HMSFX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 2.00% 5.75% 25.00%
Deferred Load N/A 1.00% 5.00% N/A

Trading Fees

HMSFX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 1.00% 2.00% N/A

Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

HMSFX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 41.00% 0.00% 5191.00% 40.00%

Distributions

HMSFX - Distributions

Dividend Yield Analysis

HMSFX Category Low Category High HMSFX % Rank
Dividend Yield 0.00% 0.00% 23.13% 26.93%

Dividend Distribution Analysis

HMSFX Category Low Category High Category Mod
Dividend Distribution Frequency Quarterly Annually Monthly Annually

Net Income Ratio Analysis

HMSFX Category Low Category High HMSFX % Rank
Net Income Ratio -0.79% -3.05% 14.24% 79.31%

Capital Gain Distribution Analysis

HMSFX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Annually

Dividend Payout History

View More +

Fund Manager Analysis

HMSFX - Fund Manager Analysis

Managers

Toby Loftin


Start Date

Tenure

Tenure Rank

Dec 31, 2013

6.67

6.7%

Toby Loftin, Managing Principal, founded BP Capital Fund Advisors, LLC in 2013. Mr. Loftin joined BP Capital LP in 2010 and served as a member of the Investment Committee of the private hedge funds and Pickens Family Office. Mr. Loftin co-manages the Hennessy BP Midstream Fund and the Hennessy BP Energy Fund (formerly the BP Capital TwinLine Funds), and prior to that he managed the Pickens’ energy infrastructure investments. Before joining the BP Capital, Mr. Loftin was a partner of SteelPath Fund Advisors and SteelPath Capital Management (formerly Alerian). He also served as Director of Institutional Equity Research Sales with Royal Bank of Canada Capital Markets where he focused on the energy sector and energy infrastructure. He also served as an officer in the U.S. Air Force. He earned a Bachelor of Science degree from the U.S. Air Force Academy and a Master of Science-Finance from University of Texas at San Antonio.

Benton Cook


Start Date

Tenure

Tenure Rank

Jun 13, 2017

3.22

3.2%

Benton Cook, CFA, Portfolio Manager, joined BP Capital Fund Advisors in June 2017, where he serves as a member of the Investment Committee. Prior to joining the team, Mr. Cook was a Portfolio Manager with Mariner Investment Group (2016 – 2017), and before that he was a Portfolio Manager with A.G. Hill Partners (2009 – 2015) and Opsis Capital Management (2005 -2009). Mr. Cook previously held positions as a Senior Analyst with Carlson Capital and as an Equity Research Analyst with Raymond James. Mr. Cook has an MBA in Finance from the University of Texas at Austin and a BA in Economics from Johns Hopkins University. He is also a CFA charter holder and member of the Chartered Financial Analyst Institute.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.08 25.02 6.11 10.43