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FAM VALUE FUND OVERVIEW

The FAM Value Fund is Fenimore’s flagship strategy. Launched in 1987, FAM Value Fund embodies our value-investor legacy, adhering to an independent, in-depth investment approach focused on quality businesses that are defined by growing cash profits and return on capital, strong balance sheets, and experienced management.

Why Invest in FAM Value Fund?

  • Market-Tested for 35+ Years: Our FAM Value Fund, backed by a research team with 231+ years of collective investment management experience, has navigated multiple equity market cycles and historically created wealth over the long term for 35+ years.
  • Quality, Concentrated Portfolio: We invest in our best 25 to 35 ideas, hand-picked through a rigorous research process focused on financially durable, and well-run quality businesses with growth potential at an attractive price. Each holding has the potential to make a positive, meaningful impact on returns.
  • Equity Flexibility: We have the freedom to invest in quality multi-cap companies across a wide range of market capitalizations; maximizing the opportunity set for our selection process.

Invest with Confidence

  • Know What You Own: Our company-level research enables us to intimately know the businesses behind our stocks and it gives us the confidence to maintain, and even increase, our shares when the market drops. We invest in companies, not stocks.
  • Long-Term Perspective: Our commitment to long-term value fund management is designed to ensure stability and growth for your investments. Time in the market — staying invested over the long term — has historically been a more reliable strategy for wealth accumulation than trying to time the market.

Ready to take the next step towards financial success? Open an account today.

Or contact us to learn more about how the FAM Value Fund can support your financial goals. Our team is accessible and honored to be ‘Your Trusted Investment Partner’.

See the prospectus for additional important information.

Clients or prospective clients should consider the investment objectives, risks, and charges and expenses carefully before investing. FAM Funds’ mutual funds are offered through Fenimore Securities Inc., member FINRA/SIPC. You may obtain a copy of the most recent mutual fund prospectus by calling 800-932-3271 and/or visiting www.fenimoreasset.com.

CHARACTERISTICS

Portfolio Details as of

Fund Facts

Inception Date: 
01/02/87
Ticker Symbol: 
FAMVX
CUSIP Number: 
314465105
Total Net Assets:
Investor (FAMVX):
Inception Date: 
01/02/17
Ticker Symbol: 
FAMWX
CUSIP Number: 
314465709
Total Net Assets:
Institutional (FAMWX):

TOP 10 HOLDINGS

TOP 5 SECTORS

MANAGERS

Portfolio Managers 
John Fox, CFA | Since 2000
Drew Wilson, CFA | Since 2017
Marc Roberts, CFA | Since 2021

PERFORMANCE

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Performance Disclosures: Performance data quoted above is historical. Past performance is not indicative of future results, current performance may be higher or lower than the performance data quoted. Investment returns may fluctuate; the value of your investment upon redemption may be more or less than the initial amount invested. All returns are net of expenses. To obtain performance data that is current to the most recent month-end for each fund as well as other information on the FAM Funds, please go to fenimoreasset.com or call (800) 932-3271.

Please consider a fund’s investment objectives, risks, charges and expenses carefully before investing. The FAM Funds prospectus or summary prospectus contains this and other important information about each Fund and should be read carefully before you invest or send money. To obtain a prospectus or summary prospectus for each fund as well as other information on the FAM Funds, please go to fenimoreasset.com or call
(800) 932-3271.

FAM Value Fund Disclosure: The Fund’s total annual operating expense ratio as stated in the fee table of the Fund’s most recent prospectus is 1.18% for the Investor Class. The Fund’s total annual operating expense ratio as stated in the fee table of the Fund’s most recent prospectus is 0.99% after fee waivers of (0.15)% for the Institutional Class. The annual operating expense as reported in the FAM Value Fund’s audited financial statements for the Investor Class is 1.18% after net fee recoupment of 0.01% and the Institutional Class is 0.99% after fee waivers of (0.15)% as of December 31, 2023. The Advisor has contractually agreed, until May 1, 2025, 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 cap Net Fund Operating Expenses for Investor Shares at 1.18% and Institutional Shares at 0.99%.

FUND MATERIALS

FUND REPORTS

Important Risk Information: The principal risks of investing in the fund are: stock market risk (stocks fluctuate in response to the activities of individual companies and to general stock market and economic conditions), stock selection risk (Fenimore utilizes a value approach to stock selection and there is risk that the stocks selected may not realize their intrinsic value, or their price may go down over time), and small-cap risk (prices of small-cap companies can fluctuate more than the stocks of larger companies and may not correspond to changes in the stock market in general).

This presentation was prepared by Fenimore Asset Management, Inc. (“Fenimore”). Neither this presentation nor any of its contents may be distributed or used for any other purpose without the prior written consent of Fenimore.

In part, the purpose of this presentation is to provide investors with an update on financial market conditions. The description of certain aspects of the market herein is a condensed summary only. This summary does not purport to be complete and no obligation to update or otherwise revise such information is being assumed. These materials are provided for informational purposes only and are not otherwise

intended as an offer to sell, or the solicitation of an offer to purchase, any security or other financial instrument. This summary is not advice, a recommendation or an offer to enter into any transaction with Fenimore or any of their affiliated funds.

This presentation may contain statements based on the current beliefs and expectations of Fenimore’s management and are subject to significant risks and uncertainties. Actual results may differ from those set forth in the forward-looking statements.

Any references herein to any of Fenimore’s past or present investments, portfolio characteristics, or performance, have been provided for illustrative purposes only. It should not be assumed that these investments were or will be profit-able or that any future investments will be profitable or will equal the performance of these investments. There can be no guarantee that the investment objectives of Fenimore will be achieved. Any investment entails a risk of loss. Unless otherwise noted, information included herein is presented as of the date indicated on the cover page and may change at any time without notice.