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Stock Update: Ross Stores

The second-best performing stock was Ross Stores with a gain of $1.01 million. Ross reported better-than-expected third quarter earnings and same-store sales. This alleviated fears about competition from Amazon — that has plagued many traditional brick-and-mortar retailers — and propelled the stock from its 52-week low. We added to the position near the low after it declined more than 20%. We continue to hear from retail landlords that discount concepts like Ross Stores continue to draw traffic and it has been a terrific long-term Fund holding.

The portfolio is actively managed. For the FAM Equity-Income Fund's current Top 10 Holdings to the most recent quarter-end, view its Portfolio Details.

To obtain the FAM Equity-Income Fund's performance data that is current to the most recent month-end, click here.

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