Investment objective & strategy
As of April 29, 2025 · prospectusObjective. FAM Small Cap Funds investment objective is to maximize long-term return on capital.
Strategy. Fenimore Asset Management, Inc. (Fenimore), the investment advisor to the Fund, employs a value approach in making its common stock selections. This approach is based on Fenimores belief that at any given point in time the stock price of a company may sell below the companys true business worth. Factors considered in evaluating the true business worth include the companys current earnings, and Fenimores opinion as to its future potential. After identifying a company whose securities are determined to have a favorable price-to-earnings relationship, Fenimore plans to invest in such securities until the true business worth nears the market price of the companys securities. Under normal market conditions the Fund invests at least 80% of its net assets, plus the … Fenimore Asset Management, Inc. (Fenimore), the investment advisor to the Fund, employs a value approach in making its common stock selections. This approach is based on Fenimores belief that at any given point in time the stock price of a company may sell below the companys true business worth. Factors considered in evaluating the true business worth include the companys current earnings, and Fenimores opinion as to its future potential. After identifying a company whose securities are determined to have a favorable price-to-earnings relationship, Fenimore plans to invest in such securities until the true business worth nears the market price of the companys securities. Under normal market conditions the Fund invests at least 80% of its net assets, plus the amount of any borrowings for investment purposes, in securities of small-cap companies. The Fund considers small-cap companies to be those issuers that, at the time of initial purchase, have a market capitalization that is within or below the range of companies in the Russell 2000 Index as of the latest reconstitution. As of April 28, 2024, the market capitalization range for the Russell 2000 Index was approximately $159.5 million to $6.0 billion. The Fund may invest in securities of both domestic and foreign issuers and it may invest in shares of other investment companies, including exchange-traded funds (ETFs). The Funds policy of investing at least 80% of its net assets in small-cap companies may only be changed upon 60 days prior notice to shareholders.
Top holdings
As of March 31, 2026 · N-PORT| Security | Ticker | Value | % of fund |
|---|---|---|---|
| EXLSERVICE HOLDINGS INC | — | $17.68M | 5.86% |
| COLLIERS-SUBORD | — | $16.34M | 5.41% |
| SITEONE LANDSCAPE SUPPLY INC | — | $15.19M | 5.03% |
| TRISURA GROUP LT | — | $15.12M | 5.01% |
| CBIZ INC | — | $14.68M | 4.87% |
| LANDSTAR SYSTEM INC | — | $13.86M | 4.59% |
| Invesco Treasury Portfolio, Institutional Class | — | $13.14M | 4.36% |
| CHOICE HOTELS INTL INC | — | $12.99M | 4.31% |
| EXPONENT INC | — | $12.72M | 4.22% |
| ELEMENT SOLUTIONS INC | — | $12.54M | 4.15% |
Portfolio moves
Dec 31, 2025 → Mar 31, 2026How many positions this fund opened, exited, grew, trimmed, or left unchanged between its two most recent N-PORT snapshots — net changes between point-in-time reports, not a trade log.
Similar funds
Funds whose portfolios most overlap this one, by weight| Fund | Overlap | Net exp. |
|---|---|---|
| CONESTOGA SMALL CAP FUND · CCASX, CCALX | 18% | 0.90% |
| CONESTOGA SMID CAP FUND · CCSMX, CCSGX | 18% | 0.85% |
| Nationwide Geneva Small Cap Growth Fund · NWHZX, NWKBX, NWKCX, NWKDX | 17% | 0.82% |
Advisers
| Firm | Role |
|---|---|
| Fenimore Asset Management, Inc. | Adviser |
Footnotes
- Expense ratio as of April 29, 2025, from the fund's prospectus.
- Net assets and holdings count as of March 31, 2026, from the fund's N-PORT filing.
- Total return for calendar year 2025, before tax and after fund expenses. Computed by compounding the twelve monthly total returns the fund reported in its SEC N-PORT filings for 2025 (the latest prospectus does not yet chart this year).
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