FAM Funds
Fenimore Private Client Group
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FAM Funds

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FAM Value Fund

FAM Value Fund seeks to maximize long-term return on capital. The Fund may be appropriate for a shareholder whose focus is capital appreciation. Distributions are paid annually and it is a no-load mutual fund. We offer both Investor Shares, with low minimums, as well as Institutional Shares that require a much higher minimum and are only available through Investment Advisors and Financial Professionals. Of the three FAM Funds, the FAM Equity-Income Fund is our only fund that does not offer Institutional Shares.

Fund Management Team (Investor Shares)

 

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. 

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. 

Portfolio Details (Investor Shares)

As of  9/30/17
 

Fund Facts 

 Inception Date  1/2/87
 Total Net Assets
 
 Investor (FAMVX)
  Institutional (FAMWX) 

 1,199,899,802
$   1,180,066,511
$        19,833,291

 Ticker Symbol                         FAMVX
 CUSIP Number  314465105


Top 10 Holdings as a Percentage of Total Investments

IDEX Corp.  5.8%
Markel Corp.  4.8%
CDW Corp.  4.7%
Ross Stores  4.4%
Illinois Tool Works  4.2%
CarMax  3.9%
Brown & Brown  3.9%
Brookfield Asset Management  3.8%
Berkshire Hathaway  3.7%
AutoZone  3.2%


Portfolio Holdings pdf
 

Top Five Industries

Machinery  14.9%
Insurance 11.8%
Specialty Retail 11.4%
Electronic Equipment & Instruments 8.6%
Capital Markets 7.8%

 

FAM Value Fund (FAMVX) Performance (Investor Shares)

 

Average Annual Returns: 10/31/2017

  FAMVX

Russell Midcap Index

YTD 11/24/17

13.20%

 
1 Year 22.74% 21.09%
3 Year 10.26% 9.04%
5 Year 14.42% 14.87%
10 Year 7.51% 8.09%
Inception 1/2/87 10.59% 11.68%


Performance data quoted above is historical. Past performance is no guarantee of future results. Current performance may be higher or lower than the performance data quoted. The principal value and investment return of an investment will fluctuate so that your shares, when redeemed, may be worth more or less than their original cost.

The Fund’s total annual operating expense ratio as stated in the fee table of the Fund’s most recent prospectus is 1.19% after fee waivers of (0.01)% for the Investor Class. The total annual operating expense as reported in the Fund’s audited financial statements is 1.18% as of 12/31/2016 after a fee waiver of (0.01%) for the Investor Class. The Advisor has contractually agreed, until May 1, 2018, to waive fees and/or reimburse the Fund certain expenses (excluding interest, taxes, brokerage costs, Acquired Fund Fees and Expenses, dividend expense and extraordinary expenses) to the extent necessary to maintain Net Fund Operating Expenses for Investor Shares at 1.18%.

You should consider the Fund's investment objectives, risks, and charges and expenses carefully before investing. The Fund's return and principal value will fluctuate with market conditions. Small-cap stocks, with their potential for greater long-term return, are more volatile and less liquid than stocks of larger companies. These risks may increase share price volatility. The Fund's ability to invest in options, futures contracts, and the Fund's ability to engage in short sale transactions involves special risks. These and other risks are described more fully in the Fund's prospectus.

 

 

Graph & Letters (Investor Shares)

 

FAMVX Graph

Date: September 30, 2017

Download PDF

Semi-Annual Chairman's Letter

Date: June 30, 2017

Download PDF

Semi-Annual Managers' Letter

Date: June 30, 2017

Download PDF

 

Distribution Detail (Investor Shares)

FAM Value Fund (FAMVX)

Record Date  12/27/17
Ex-Dividend Date  12/28/17
Payable Date  12/28/17
Payout  
Reinvestment Price  

 

2016 Tax Supplement

FAM Funds: FAM Value Fund
FAMVX seeks to maximize long-term return on capital and may be appropriate for a shareholder whose focus is capital appreciation. Distributions are paid annually and it is a no-load mutual fund.