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Stock Update: Echo Global Logistics

Echo Global Logistics was the worst performer, on a dollar-weighted basis, losing -$1.82 million. Echo derives most of its revenue from its transportation brokerage segment, matching shippers with freight to move with trucks looking for freight to haul. An oversupply of trucks has impinged on demand for the company’s services in recent quarters. We sold the position on weakness and reinvested some of the proceeds into Landstar System, which we view as a better managed competitor with a stronger balance sheet.

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

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

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