--------------------------------------- OMB Number: 3235-0006 Expires: December 31, 2009 Estimated average burden hours per response ............. 22.6 --------------------------------------- UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 13F Form 13F COVER PAGE Report for the Calendar Year or Quarter Ended: March 31, 2008 ------------------ Check here if Amendment [X]; Amendment Number: 2 ------------ This Amendment (Check only one.): [ ] is a restatement. [X] adds new holdings entries. Institutional Investment Manager Filing this Report: Name: Hennessy Advisors, Inc. Address: 7250 Redwood Boulevard, Suite 200 Novato, CA 94945 Form 13F File Number: 028-06715 The institutional investment manager filing this report and the person by whom it is signed hereby represent that the person signing the report is authorized to submit it, that all information contained herein is true, correct and complete, and that it is understood that all required items, statements, schedules, lists, and tables, are considered integral parts of this form. Person Signing this Report on Behalf of Reporting Manager: Name: Teresa M. Nilsen Title: Executive Vice President and Chief Financial Officer Phone: (415) 899-1555 Signature, Place, and Date of Signing: /s/ Teresa M. Nilsen Novato, CA October 14, 2008 -------------------------------------------------------------------------------- Teresa M. Nilsen City, State Date Report Type (Check only one): [X] 13F HOLDINGS REPORT. (Check here if all holdings of this reporting manager are reported in this report.) [ ] 13F NOTICE. (Check here if no holdings reported are in this report, and all holdings are reported by other reporting manager(s).) [ ] 13F COMBINATION REPORT. (Check here if a portion of the holdings for this reporting manager are reported in this report and a portion are reported by other reporting manager(s).) FORM 13F SUMMARY PAGE Report Summary: Number of Other Included Managers: 0 ---------------------- Form 13F Information Table Entry Total: 2 ---------------------- Form 13F Information Table Value Total: $100 ---------------------- (thousands) List of Other Included Managers: NONE Page 1 of 1 03/31/2008 FORM 13F INFORMATION TABLE Name of Reporting Manager: Hennessy Advisors, Inc. Column Column 1: Column 2: Column 3: Column 4: Column 5: Column 6: 7: Column 8: ------------------------------------------------------------------------------------------------------------------------------------ Title Market of CUSIP Value Shares or Other Name of Issuer Class Number (x$1,000) Principal Amount Investment Discretion Mgrs. Voting Authority ------------------------------------------------------------------------------------------------------------------------------------ SH/ Put/ Shared Shared PRN Call Sole Defined Other Sole Shared None ------------------------------------------------------------------------------------------------------------------------------------ ESS TECHNOLOGY INC COMMON 269151106 54 35,720 SH SOLE 35,720 ------------------------------------------------------------------------------------------------------------------------------------ HACKETT GROUP INC COMMON 404609109 46 11,880 SH SOLE 11,880 ------------------------------------------------------------------------------------------------------------------------------------ TOTAL 100 ------------------------------------------------------------------------------------------------------------------------------------