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Fenimore Private Client Group
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Stock Update: Patriot Transportation

Patriot was the third-worst performer with a loss of just -$35,701. We sold our position in Patriot essentially because we concluded it was a fine company, run by decent people, that should likely do well over time — but they just were not up to our standards. Our goal is to continually prune the portfolio by upgrading the quality of stocks, whenever possible, and we believe our additions this year are even better holdings than those we sold.
 

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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