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Palmer Fargnoli Joins Fenimore as Regional Sales Director

Palmer Fargnoli Joins Fenimore as Regional Sales Director

Fenimore Asset Management, an independent, Capital Region-based investment advisory firm and manager of the FAM Funds family of mutual funds, hired Palmer Fargnoli as Regional Sales Director. In his role, Mr. Fargnoli meets with individuals, families, nonprofits, and institutions to impart Fenimore’s distinctive investment approach and solutions.

“Palmer has a history of fostering trust and developing long-term relationships, so he fits our culture very well,” said Fenimore CEO Anne Putnam. “He is committed to helping our investors achieve their financial goals and is dedicated to community service.”

Mr. Fargnoli’s extensive career includes more than 25 years of sales and fundraising experience for higher education institutions and nonprofits. He holds a BA from Union College and two MS degrees from Syracuse University.

Founded in 1974, Fenimore Asset Management is an independent, nationally recognized investment manager with more than $4.57 billion in assets under management (as of December 31, 2023) through its Cobleskill and Albany offices. The firm’s team focuses on in-depth research, investing in the stocks of carefully selected quality businesses, and providing its investors with highly personalized investment services. Fenimore offers both individually managed portfolios and a family of mutual funds (FAM Funds) that can be used for retirement and other long-term investment planning.

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Gary Dake Joins Fenimore’s Board

Gary Dake Joins Fenimore’s Board

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    Fenimore Asset Management, an independent, Capital Region-based investment advisory firm and manager of the FAM Funds family of mutual funds, announces that business leader Gary Dake has joined its board of directors.

    Mr. Dake is President of Stewart’s Shops Corporation. Stewart’s is a large, privately owned, and vertically integrated chain of convenience stores and gas stations with more than 355 shops in New York and Vermont. Mr. Dake is an accomplished and acclaimed leader who heads a team of more than 5,000 partners (employees). These partners own more than 40% of the company through their Employee Stock Ownership Plan. Employed at Stewart’s since 1985, he holds a BA in Economics from St. Lawrence University.

    “Gary is a well-respected and admired leader both within his company and throughout the Capital Region community,” shared Tom Putnam, Founder and Executive Chairman of Fenimore Asset Management. “His integrity, expertise, success, and entrepreneurial spirit should benefit our investors over the long term.”

    In addition to his extensive business career, Mr. Dake is very active as a community leader and Stewart’s Shops is dedicated to community giving and support. Between the company, Dake family foundations, and Stewart’s “Holiday Match Program,” millions of dollars have been donated to thousands of local charities. Mr. Dake is also the founder of the Dake Foundation for Children. The nonprofit was established “to provide opportunities for children with disabilities to enjoy more independence, inclusion, and fun.”

    Founded in 1974, Fenimore Asset Management is an independent, nationally recognized investment manager with more than $4.12 billion in assets under management (as of September 30, 2023) through its Cobleskill and Albany offices. The firm’s team focuses on in-depth research, investing in the stocks of carefully selected quality businesses, and providing its investors with highly personalized investment services. Fenimore offers both individually managed portfolios and a family of mutual funds (FAM Funds) that can be used for retirement and other long-term investment planning.

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Fenimore Names Anne Putnam CEO

Fenimore Names Anne Putnam CEO

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    Second-generation leader brings deep relationship management experience and lifelong commitment to firm’s core values to new role.

    Fenimore Asset Management, manager of the FAM Funds family of mutual funds, has promoted Anne Putnam to Chief Executive Officer, effective October 1, 2023. Anne’s promotion comes as the firm founded by her father, Tom Putnam, in 1974 nears its 50th year of service to investors in the Greater Capital Region and across the country.

    Ms. Putnam is an accomplished leader who has delivered results, built strong relationships, and carried out a vision of growth over her two-decade investment management career. Since joining Fenimore in 2006, she has contributed significantly to the firm’s success, most recently as Senior Vice President, a role she’s held since 2017. During her career, Ms. Putnam has served investors and financial institutions in a variety of capacities while immersing herself in all aspects of Fenimore’s operations, beginning as a client relationship manager for separately managed accounts.

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  • Anne Putnam & Senior Leaders

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    John Fox, CFA®, Chief Investment Officer; Tom Putnam, Founder & Executive Chairman; Anne Putnam, Chief Executive Officer; Christian Snyder, J.D., CFA®, President

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    “As the founder and executive chairman of Fenimore, I am excited about everything Anne brings to her new role for our investors, associates, and community. She is a proven leader with a deep understanding and commitment to our investment philosophy, and the knowledge, experience, and drive to help guide our firm to new levels of investor satisfaction and growth,” Mr. Putnam said.

    Fenimore Asset Management is an independent, nationally recognized investment manager with more than $4.27 billion in assets under management as of June 30, 2023, through its Albany and Cobleskill offices. As a research-based and service-centric manager, Fenimore offers investment solutions to individuals, families, and organizations to help nurture and grow their capital over the long term. The firm’s team focuses on in-house research, investing in carefully selected quality businesses (stocks), and providing its investors with highly personalized investment solutions.

As a second-generation leader, Ms. Putnam has played a key role in maintaining and enhancing the strategic vision and value investment philosophy established by her father when he founded the firm as a means to manage family money after the Putnams sold the successful textile business started by Ms. Putnam’s grandfather. She has also been integral to continuing Fenimore’s half-century commitment to philanthropy in the community. 

“Fenimore is an investment factory, like my grandfather built with his business, based on relationships with our investors, financial institutions, and portfolio-owned companies. Due to our values, we remain committed to investing in our community and giving back; it is humbling to walk in the footsteps of my forefathers,” said Ms. Putnam. “My goal as CEO is to maintain our presence regionally as a partnership owned by family and associates, expand our presence in the Capital Region, and continue to offer our investment strategies nationally through various channels. The same culture — in values-based management plus investment philosophy and process of these last fifty years — will guide us forward.”

Ms. Putnam succeeds John Fox in the CEO role. Mr. Fox will continue in his role as Chief Investment Officer (CIO) and dedicate his full attention to guiding the firm’s investment management strategies. Ms. Putnam’s promotion is the latest step in Fenimore’s carefully planned leadership succession strategy, which included the appointment of Christian Snyder as president in 2022.

Ms. Putnam is active in the community — both in Schoharie County where she was born and raised and throughout the Capital Region — through volunteerism and giving back. She currently sits on the boards of Double H Ranch in Lake Luzerne and Lakeside Chapel in Lake George.

“Anne is a highly-respected professional who is dedicated to serving our investors, our associates, and our community,” shared Michael Saccocio, a member of the Fenimore Asset Management Board of Directors and Executive Director, City Mission of Schenectady. “She exemplifies Fenimore’s commitment to excellence and is a great choice to serve as our next CEO.”

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Discover Key Insights from the Jefferies Industrial Conference

Discover Key Insights from the Jefferies Industrial Conference

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    The Fenimore research team recently attended the prestigious Jefferies Industrial Conference, engaging with a diverse spectrum of industrial companies, including:

    • Industrial Distribution
    • HVAC Systems
    • Trucking
    • Aerospace
    • Industrial Gases
    • Building Materials
    • Aggregates
  • RESEARCH ON THE ROAD - JEFFERIES INDUSTRIAL CONFERENCE

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Here are a few important takeaways that are shaping the industrial landscape in 2023:

  1. Inventory Normalization: In the wake of supply chain disruptions and surging demand, 2023 saw many industries grappling with elevated inventory levels. However, the tide appears to be turning as destocking took center stage in the first half of the year. The good news? Many companies expect this trend to find resolution in the latter half of 2023, and are highly confident that destocking woes will not linger into 2024.

  1. Pricing Dynamics: Companies, faced with relentless cost inflation, have responded aggressively by implementing record price hikes over the past few years. Remarkably, companies across the board are fairly resolute in their ability to return to “typical” price increases throughout 2024 and beyond, with little to no concern for deflation.

  1. Resilience in Capital Spending: Despite the impact of higher interest rates, companies are demonstrating unwavering commitment to their capital spending strategies. Capital costs may be on the rise, and customer demand may be showing signs of softening, but this hasn’t deterred companies from pursuing their reinvestment and mergers and acquisitions (M&A)

As part of our research process, our Portfolio Managers meet with company executives, attend conferences, and engage in face-to-face interactions throughout the year. This ‘X factor’ is what truly distinguishes us, giving us unparalleled insights into companies, their operations, competitive advantages, and challenges. It’s what fuels our confidence in every investment we make.

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FAM Funds’ 37th Annual Investor Meeting

FAM Funds’ 37th Annual Investor Meeting

Fenimore Asset Management, manager of the FAM Funds, welcomes you to join us & hear:

  • How our new generation of leadership continues to focus on in-depth, firsthand research and service excellence.
  • The latest insights from our investment research analysts’ company visits.
  • An evaluation on long-term investing through various market cycles — despite the news headlines at any given time.
Tuesday, October 10, 2023
4:00–5:00 p.m.

Cobleskill-Richmondville High School Auditorium
1353 State Route 7, Richmondville, NY
Refreshments & Complimentary Gift

BRING A GUESTIt’s a great opportunity to meet our team.

MEETING Q&A — Questions can be submitted when you RSVP or asked during the meeting.

RSVP

or call 800-932-3271
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Makayla Tebano joins Fenimore as Vice President, Marketing

Makayla Tebano joins Fenimore as Vice President, Marketing

Fenimore Asset Management, an independent, Capital Region-based investment advisory firm and manager of the FAM Funds family of mutual funds, has appointed Makayla Tebano to Vice President of Marketing. Makayla, a Capital Region native, leads the firm’s marketing and brand strategy.

“Makayla brings more than 20 years of experience working across different marketing channels and will be a valuable asset to the firm’s marketing strategy as we look to grow our presence within the Capital Region,” said Fenimore’s President Christian Snyder, J.D., CFA®. “Her expertise will strengthen the firm’s initiatives while remaining true to the core of what we provide — a distinctive investment research approach and high-touch, personalized service.”

Prior to joining Fenimore, Mrs. Tebano was the Sr. Director of Marketing for MVP Health Care where she spent 20 years in a variety of marketing and leadership roles. She is a Leadership Capital Region Class of 2016 alumna and earned a BA from The College of Saint Rose. 

Founded in 1974, Fenimore Asset Management is an independent, nationally recognized investment manager with more than $4.27 billion in assets under management (as of 6/30/2023) through its Cobleskill and Albany offices. Fenimore offers both individually managed portfolios and a family of mutual funds (FAM Funds) that can be used for retirement and other long-term investment planning. The firm’s team focuses on in-depth research, investing in carefully selected quality businesses, and providing its investors with highly personalized investment services.

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Shaun Fagant

Fenimore Promotes Shaun Fagant

Fenimore Promotes Shaun Fagant

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    Fenimore Asset Management, an independent, Capital Region-based investment advisory firm and manager of the FAM Funds family of mutual funds, has promoted Shaun Fagant to Regional Director. In his new role, Mr. Fagant will share Fenimore’s distinctive investment approach and solutions with individuals, families, nonprofits, small businesses, and other organizations.

    “Shaun’s extensive experience in working one-on-one with investors and helping them achieve their financial goals should be a great benefit to people in our region,” said Fenimore Senior Vice President Anne Putnam. “He is dedicated to service excellence and developing caring, long-term relationships with our investors that are anchored in trust.”

    Prior to his promotion, Mr. Fagant served on the FAM Funds Shareholder Services team as a Shareholder Relations professional. Previously, he was a Team Leader at Ayco (a Goldman Sachs Company) overseeing a group of financial planners. Mr. Fagant has more than 17 years of financial planning experience and earned his master’s degree in Business Administration from the University of Massachusetts.

  • Shaun Fagant, Regional Director

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    Shaun Fagant, Regional Director

Founded in 1974, Fenimore Asset Management is an independent, nationally recognized investment manager with more than $4.08 billion in assets under management (as of 3/31/2023) through its Cobleskill and Albany offices. Fenimore offers both individually managed portfolios and a family of mutual funds (FAM Funds) that can be used for retirement and other long-term investment planning. The firm’s team focuses on in-depth research, investing in carefully selected quality businesses, and providing its investors with highly personalized investment services.

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Antonio Hebert Earns the Chartered Financial Analyst® (CFA®) Designation

Antonio Hebert Earns the Chartered Financial Analyst® (CFA®) Designation

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    Fenimore Asset Management is pleased to announce that Antonio Hebert earned the Chartered Financial Analyst® (CFA®) designation and is among several of the research analysts at Fenimore Asset Management, the investment advisor to FAM Funds, to become a CFA® charterholder member. The CFA® designation introduces Antonio into a select professional community of ethical financial experts around the world.

    Antonio joined Fenimore in 2019, as an Investment Research Associate, conducting firsthand, individual company research as part of Fenimore’s time-tested investment approach. Antonio graduated third in his class from Fordham University before joining Fenimore. He earned a BS in Finance with a secondary concentration in Value Investing.

    “We are very proud of Antonio for achieving this milestone,” said John Fox, Chief Executive Officer. “This designation coupled with his commitment to our investment process, intelligence, and character will continue to make a positive difference at Fenimore.”

    Congratulations, Antonio!

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