HENNESSY ADVISORS INC

Ticker: HNNA CUSIP: 425885100 Class: COM

Granite Investment Partners, LLC's Holding History (CIK: 0001542266)

Note: Option positions (PUT/CALL) are excluded.

Q4 2016

Shares 46,207 Value ($000) $1,467 Avg Close $21.18 Range $16.23 - $24.13

Q3 2016

Shares 75,914 Value ($000) $2,692 Avg Close $23.60 Range $21.67 - $26.31

Q2 2016

Shares 84,003 Value ($000) $2,812 Avg Close $21.48 Range $17.73 - $26.33

Q1 2016

Shares 80,060 Value ($000) $2,137 Avg Close $17.97 Range $16.13 - $20.00

Q4 2015

Shares 64,093 Value ($000) $1,920 Avg Close $19.09 Range $15.70 - $22.00

Q3 2015

Shares 70,738 Value ($000) $1,680 Avg Close $14.89 Range $12.16 - $16.67

Q2 2015

Shares 49,829 Value ($000) $939 Avg Close $13.06 Range $12.04 - $14.41

Q1 2015

Shares 29,963 Value ($000) $607 Avg Close $14.43 Range $12.48 - $16.60

Period	Shares	Value ($000)	Average Close	Price Range
Q4 2016	46,207	$1,467	$21.18	$16.23 - $24.13
Q3 2016	75,914	$2,692	$23.60	$21.67 - $26.31
Q2 2016	84,003	$2,812	$21.48	$17.73 - $26.33
Q1 2016	80,060	$2,137	$17.97	$16.13 - $20.00
Q4 2015	64,093	$1,920	$19.09	$15.70 - $22.00
Q3 2015	70,738	$1,680	$14.89	$12.16 - $16.67
Q2 2015	49,829	$939	$13.06	$12.04 - $14.41
Q1 2015	29,963	$607	$14.43	$12.48 - $16.60