FAM Funds
Fenimore Private Client Group
Investment Advisors
About Fenimore

Investment Advisors

 

Investment Research

Overview

“Thought leader,” a term coined in the early ‘90s, is considered vital in business to create progress. Since our inception, thought leadership has been the cornerstone of our firm. Our team of seasoned professionals conducts in-depth, independent research and analyzes the companies behind the investments to gain unique insights. We use this firsthand knowledge and a time-tested process to help achieve our investors’ long-term financial goals.


The way we hope to influence progress is to demonstrate how FAM Funds' investment approach works, over the long term, despite what’s happening around the globe economically, politically, and socially.

Staying the course in an ever-changing investment world.

Investment Research Team

Thomas O. Putnam

Thomas O. Putnam

Founder & Chairman

Mr. Putnam is Founder and Chairman of Fenimore Asset Management and FAM Funds. Tom reinforces the firm’s vision and provides research, insight, and guidance for its separately managed portfolio business and mutual funds. Mr. Putnam earned his BA from the University of Rochester and MBA from Tulane University before establishing the firm in 1974. Not only is Tom dedicated to Fenimore’s investors, he is passionate about investing in the community. Tom is a former member of the Investment Company Institute (ICI) Board of Governors, Cobleskill Regional Hospital Board, and Reformed Church of America Investment Committee. Tom currently serves on the New York State Historical Association (Fenimore Art Museum) Board, Catskill Area Hospice and Palliative Care Foundation Board, Guideposts Board, and Guideposts Foundation Board. 

John D. Fox, CFA

John D. Fox, CFA

Chief Investment Officer

As Chief Investment Officer, Mr. Fox is responsible for overseeing the development, implementation, and monitoring of Fenimore’s investment strategies and portfolios by coordinating the Investment Research Team's efforts. John also serves as the primary communicator and educator of the firm’s long-term investment philosophy and process. Additionally, John is Co-Manager of the FAM Value Fund, a firm Principal, and active in the community. Prior to joining us in 1996, Mr. Fox spent 10 years in the financial services industry as a financial analyst and life insurance executive. He holds a BS from Fairfield University, MBA from the University of Connecticut, Chartered Financial Consultant (ChFC) designation from the American College in Bryn Mawr, PA, and Chartered Financial Analyst (CFA) designation. 

Paul C. Hogan, CFA

Paul C. Hogan, CFA

Investment Research Analyst

Paul earned a BA from St. Bonaventure University, MBA from the State University of New York at Binghamton, and Chartered Financial Analyst (CFA) designation. Prior to joining Fenimore in 1991, he was an officer in the United States Army National Guard. Paul is a firm Principal and Co-Manager of the FAM Equity-Income Fund.

Andrew F. Boord

Andrew F. Boord

Investment Research Analyst

Andrew received a BS from the University of Tennessee and MS from American University, both in Accounting. He also earned his CPA in 1994 (currently inactive). Prior to joining Fenimore in 2005, Andrew spent 10 years in the investment management industry including a position as Vice President and Portfolio Manager with A.G. Edwards Asset Management. Andrew is a firm Principal and Co-Manager of the FAM Small Cap Fund.

Drew P. Wilson, CFA

Drew P. Wilson, CFA

Investment Research Analyst

Drew earned a BA from Loyola University of Chicago, MBA from Northwestern University Kellogg School of Business, and Chartered Financial Analyst (CFA) designation. He was a Partner, Equity Analyst, and Portfolio Manager at Martin Capital Management in Elkhart, Indiana for 15 years before joining Fenimore in 2011. Prior to that, he was with Watson Wyatt Worldwide. Drew is a firm Principal and Co-Manager of the FAM Value Fund. 

Kevin D. Gioia, CFA

Kevin D. Gioia, CFA

Investment Research Analyst

Kevin received a BS in Finance from Siena College and graduated with honors in 2010 before joining Fenimore’s Investment Research Team. Kevin also earned the Chartered Financial Analyst (CFA) designation and is a firm Principal.

William W. Preston, CFA

William W. Preston, CFA

Investment Research Analyst

Will received a BS in Business Administration with a concentration in Finance/IT Management and a minor in Economics from the University at Albany. He also earned his Chartered Financial Analyst (CFA) designation. Before joining Fenimore in 2016, Will worked at Renaissance Capital in Greenwich, Connecticut as a Senior Research Analyst for four years. Prior to that, he was a Fenimore Investment Research Intern. 

Trish Bergan

Trish Bergan

Assistant to Tom Putnam & the Research Team

pbergan@famfunds.com
518.234.4393 x 246

White Papers

Our white papers and position papers are an extension of our research process − insights for our investors and people interested in logical, long-term, value investing. They help illustrate our steadfast, time-tested, distinct views in an ever-changing investment landscape.

Fenimore Asset Management is the investment advisor to FAM Funds. Read more of our Investment Research Team's white papers including topics such as Quality Matters, Owner Earnings, and Real Returns.

Here is an addendum to the Quality Matters white paper including statistics that illustrate how FAM Funds compare to the data presented in our white paper on quality investments.  You may also access Quality Matters here.

Dividend Growth For The Long Term

Author: Paul C. Hogan, CFA, Investment Research Analyst

Date: September 2016

Download PDF

The Value of Patience

Authors: Thomas O. Putnam, Founder & Chairman
                   Drew P. Wilson, CFA, Investment Research Analyst

Date: July 2015

Download PDF

Small-Cap Stocks

Author: Investment Research Team

Date: May 2015

Download PDF

Stock Updates (as of 9/30/17 = quarterly performance)

CarMax

Ticker: KMX
Funds: FAMVX,FAMWX
Sector: Consumer Discretionary

CarMax was the best performing stock for the third quarter, on a dollar-weighted basis, with a gain of $7.84 million. The company reported strong earnings results with good same-store sales...
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Ross Stores

Ticker: ROST
Funds: FAMVX,FAMWX
Sector: Consumer Discretionary

The second-best performing stock was Ross Stores with a gain of $5.67 million. Ross reported better-than-expected third quarter earnings and same-store sales.
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IDEX Corp.

Ticker: IEX
Funds: FAMVX,FAMWX
Sector: Industrials

The third-best performer was IDEX Corp. with an increase of $5.09 million. IDEX is an industrial company with headquarters near Chicago and it is a leader in products that...
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MEDNAX

Ticker: MD
Funds: FAMVX,FAMWX
Sector: Healthcare

The worst performing stock for the third quarter, on a dollar-weighted basis, was MEDNAX with a loss of -$8.20 million. MD is a national medical group that comprises the nation's leading providers of...
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Interpublic Group of Companies

Ticker: IPG
Funds: FAMVX,FAMWX
Sector: Consumer Discretionary

Interpublic Group of Companies, a global advertising and media company, was the second-worst performer with a loss of -$5.41 million. Advertising companies saw soft activity during the quarter which led to...
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Patterson Companies

Ticker: PDCO
Funds: FAMVX,FAMWX
Sector: Healthcare

Patterson was the third-worst performer with a loss of -$3.57 million. Patterson, a distributor of veterinary and dental products, has experienced weakness in the dental segment.
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Microchip Technology

Ticker: MCHP
Funds: FAMEX
Sector: Information Technology

Microchip Technology was the best performer for the third quarter, on a dollar-weighted basis, adding $1.51 million to the Fund’s value. This provider of semiconductors, used in everything from touch panels to automotive infotainment systems, has been...
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Ross Stores

Ticker: ROST
Funds: FAMEX
Sector: Consumer Discretionary

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.
Read More

Versum Materials

Ticker: VSM
Funds: FAMEX
Sector: Information Technology

Versum Materials was the portfolio’s third-best performer with a gain of $917,280. Versum is a leading and innovative electronic materials supplier to the semiconductor industry.
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Foot Locker

Ticker: FL
Funds: FAMEX
Sector: Consumer Discretionary

Foot Locker was the worst performer in the portfolio for the third quarter, on a dollar-weighted basis, and subtracted -$2.05 million from the Fund’s value. This retailer of athletic footwear saw its shares punished as the company...
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Patterson Companies

Ticker: PDCO
Funds: FAMEX
Sector: Healthcare

Patterson was the second-worst performer with a loss of -$1.18 million. Patterson, a distributor of veterinary and dental products, has experienced weakness in the dental segment.
Read More

Interpublic Group of Companies

Ticker: IPG
Funds: FAMEX
Sector: Consumer Discretionary

Interpublic Group of Companies, a global advertising and media company, was the third-worst performer with a loss of -$1.07 million. Advertising companies saw soft activity during the quarter which led to...
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Monro Muffler Brake

Ticker: MNRO
Funds: FAMDX,FAMFX
Sector: Consumer Discretionary

Monro Muffler Brake was the best performing stock for the third quarter, on a dollar-weighted basis, contributing profits of $1.70 million. We monitored Monro, the nation’s largest automotive care chain, for...
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Westwood Holdings Group, Inc.

Ticker: WHG
Funds: FAMDX,FAMFX
Sector: Financials

Westwood Holdings Group, a global asset manager, was the second-best performer adding $952,974 to returns. With more than $20 billion in assets under management, Westwood provides...
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Landstar System

Ticker: LSTR
Funds: FAMDX,FAMFX
Sector: Industrials

Landstar System was the third-largest contributor with a gain of $774,386. Landstar is a worldwide, asset-light provider of integrated transportation management solutions. The firm delivers...
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Echo Global Logistics

Ticker: ECHO
Funds: FAMDX,FAMFX
Sector: Industrials

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.
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Hostess Brands

Ticker: TWNK
Funds: FAMDX,FAMFX
Sector: Consumer Staples

Hostess Brands was the second-worst detractor losing -$883,523 for the Fund. Under new ownership and management, Hostess invested in three highly automated plants in recent years.
Read More

Evolution Petroleum

Ticker: EPM
Funds: FAMDX,FAMFX
Sector: Energy

Evolution Petroleum was our third-worst performer for the quarter with a loss of -$426,772. While Evolution is a high-quality oil producer with a clean balance sheet, earnings and the stock price understandably follow...
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FAM Funds: Investment Research - Investment Advisors
Our team of seasoned professionals conducts in-depth, independent research and analyzes the companies behind the investments to gain unique insights.