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Stock Update: Brown & Brown

Brown & Brown was the best performing stock for 2016, on a dollar-weighted basis, with a gain of $16.60 million. Brown & Brown is a long-term holding in the Fund with an original purchase date in the 1990s. It is a national insurance agency with headquarters in Daytona Beach, FL. Sales and earnings results have been fairly consistent over the last few years and Brown & Brown has embarked on a stock repurchase program which is adding to earnings per share growth. The company does business primarily in the United States and should be a significant beneficiary of lower corporate tax rates. The stock performed well this year gaining 15% thru Election Day and increased another 21% after the election.

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

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

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