Descartes Systems Group, Inc. (The)

0001752724-24-128171.txt : 20240530 0001752724-24-128171.hdr.sgml : 20240530 20240530124635 ACCESSION NUMBER: 0001752724-24-128171 CONFORMED SUBMISSION TYPE: NPORT-P PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20240331 FILED AS OF DATE: 20240530 DATE AS OF CHANGE: 20240530 PERIOD START: 20241231 FILER: COMPANY DATA: COMPANY CONFORMED NAME: FENIMORE ASSET MANAGEMENT TRUST CENTRAL INDEX KEY: 0000797136 ORGANIZATION NAME: IRS NUMBER: 146131155 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: NPORT-P SEC ACT: 1940 Act SEC FILE NUMBER: 811-04750 FILM NUMBER: 241003191 BUSINESS ADDRESS: STREET 1: 384 N GRAND ST STREET 2: PO BOX 399 CITY: COBLESKILL STATE: NY ZIP: 12043 BUSINESS PHONE: 518-234-7400 MAIL ADDRESS: STREET 1: P O BOX 399 CITY: COBLESKILL STATE: NY ZIP: 12043 FORMER COMPANY: FORMER CONFORMED NAME: FENIMORE ASSET MANAGEMENT TRUST FAM VALUE FUND SERIES DATE OF NAME CHANGE: 19920703

0000797136 S000035925 FAM Small Cap Fund

C000110096 Investor FAMFX

C000164667 Institutional Class FAMDX

NPORT-P 1 primary_doc.xml NPORT-P false 0000797136 XXXXXXXX S000035925 C000164667 C000110096 Fenimore Asset Management Trust 811-04750 0000797136 5493004VCQ6EILLEK631 384 North Grand Street Cobleskill 12043 800-932-3271 FAM SMALL CAP FUND S000035925 549300MX6ID0BRGEJC17 2024-12-31 2024-03-31 N 392786076.48 457895.50 392328180.98 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0 N Descartes Systems Group Inc. 875500NEPA7JI5EOMN45 Descartes Systems Group, Inc. (The) 249906108 101200.00000000 NS USD 9262836.00000000 2.360991753603 Long EC CORP CA N 1 N N N Dutch Bros Inc N/A DUTCH BROS, INC. 26701L100 363147.00000000 NS USD 11983851.00000000 3.054547590760 Long EC CORP US N 1 N N N Element Solutions Inc 549300FLGN6P5CU20J91 Element Solutions, Inc. 28618M106 485730.00000000 NS USD 12133535.40000000 3.092700445247 Long EC CORP US N 1 N N N Floor And Decor Holding Inc. N/A Floor & Decor Holdings, Inc. Class A 339750101 80558.00000000 NS USD 10441927.96000000 2.661528910290 Long EC CORP US N 1 N N N ExlService Holdings Inc. 81E3DTNF6OSH489ZOV15 ExlService Holdings, Inc. 302081104 634470.00000000 NS USD 20176146.00000000 5.142670595214 Long EC CORP US N 1 N N N Boston Omaha Corp. 54930002FEWTYF4YFF19 Boston Omaha Corporation Class A 101044105 718195.00000000 NS USD 11103294.70000000 2.830103785118 Long EC CORP US N 1 N N N Chemed Corporation 54930020031IDJT2IM79 Chemed Corporation 16359R103 22655.00000000 NS USD 14542924.15000000 3.706826288561 Long EC CORP US N 1 N N N Franklin Electric Co Inc RR6AURIKMXUE4Q24G284 Franklin Electric Company, Inc. 353514102 104500.00000000 NS USD 11161645.00000000 2.844976614251 Long EC CORP US N 1 N N N Pinnacle Financial Partners Inc. 54930098EZ8JMSAZGS24 Pinnacle Financial Partners, Inc. 72346Q104 184100.00000000 NS USD 15810508.00000000 4.029919023534 Long EC CORP US N 1 N N N Nomad Foods Limited 5493000ZZ1837DS2SI43 Nomad Foods Ltd. G6564A105 763815.00000000 NS USD 14940221.40000000 3.808092847850 Long EC CORP US N 1 N N N Cass Information Systems Inc. 549300G7XPIPR7SJ2F38 Cass Information Systems, Inc. 14808P109 222645.00000000 NS USD 10724809.65000000 2.733632242071 Long EC CORP US N 1 N N N Hagerty Inc N/A Hagerty Inc. 405166109 729259.00000000 NS USD 6672719.85000000 1.700800547473 Long EC CORP US N 1 N N N SouthState Corp. 549300JZUANXM0YQ4W53 South State Corporation 840441109 134606.00000000 NS USD 11445548.18000000 2.917340312238 Long EC CORP US N 1 N N N Ollies Bargain Outlet Holdings Inc. 529900YO5DSQCPEFDZ05 Ollie's Bargain Outlet Holdings, Inc. 681116109 150550.00000000 NS USD 11979263.50000000 3.053378289083 Long EC CORP US N 1 N N N Choice Hotels International, Inc. 5493003CYRY5RFGTIR97 Choice Hotels International, Inc. 169905106 108500.00000000 NS USD 13708975.00000000 3.494262116413 Long EC CORP US N 1 N N N Home BancShares Inc. N/A Home BancShares, Inc. 436893200 412135.00000000 NS USD 10126156.95000000 2.581042464170 Long EC CORP US N 1 N N N Short-Term Invts T 549300UJV6OHYATSFU27 Invesco Treasury Portfolio Institutional Class 825252406 23619667.52000000 PA USD 23619667.52000000 6.020385143121 Long STIV RF US N 1 N N N Trisura Group Ltd 549300S7H452RZFP8305 TRISURA GROUP LTD. 89679A209 492980.00000000 NS USD 15158256.95000000 3.863667634615 Long EC CORP US N 1 N N N Colliers International Group Inc D3O8K13PHLEXXD1DT480 COLLIERS INTERNATIONAL GROUP, INC. 194693107 167455.00000000 NS USD 20468024.65000000 5.217067149974 Long EC CORP US N 1 N N N Siteone Landscape Supply Inc 5299008LX7SBD4HIAU03 SiteOne Landscape Supply, Inc. 82982L103 81427.00000000 NS USD 14213082.85000000 3.622753485231 Long EC CORP US N 1 N N N FirstService Corp. 5493000XUDIV75BCF118 FIRSTSERVICE CORPORATION 33767E202 72534.00000000 NS USD 12026137.20000000 3.065325863148 Long EC CORP CA N 1 N N N CBIZ Inc. 529900D5X8CFM8O1N813 CBIZ, Inc. 124805102 415227.00000000 NS USD 32595319.50000000 8.308176949863 Long EC CORP US N 1 N N N Exponent Inc 529900NY3F5Q2NWPUZ42 Exponent, Inc. 30214U102 139437.00000000 NS USD 11530045.53000000 2.938877727620 Long EC CORP US N 1 N N N Brookfield Infrastructure Corporation N/A Brookfield Infrastructure Corp. Common A Shares 11275Q107 389775.00000000 NS USD 14047491.00000000 3.580546002306 Long EC CORP US N 1 N N N Dream Finders Homes Inc N/A DREAM FINDERS HOMES INC 26154D100 364785.00000000 NS USD 15952048.05000000 4.065995975653 Long EC CORP US N 1 N N N Landstar System Inc. 254900CUQXQRL09MEI52 Landstar System, Inc. 515098101 65700.00000000 NS USD 12664332.00000000 3.227994473495 Long EC CORP US N 1 N N N SPS Commerce Inc 2549006XVF9GCCETDQ72 SPS Commerce, Inc. 78463M107 65008.00000000 NS USD 12019979.20000000 3.063756258848 Long EC CORP US N 1 N N N Frontdoor Inc 5493008RB0JZJI3QGZ06 Frontdoor Inc. 35905A109 364875.00000000 NS USD 11887627.50000000 3.030021312847 Long EC CORP US N 1 N N N 2024-05-29 Susan McLauchlan Susan McLauchlan Susan McLauchlan VP Fund Accounting XXXX NPORT-EX 2 303.htm 303 SOI

FAM VALUE FUND
SCHEDULE OF INVESTMENTS
March 31, 2024 (Unaudited)

COMMON STOCKS - 96.4%	Shares	Value
Banks - 3.7%
Pinnacle Financial Partners, Inc.	386,527	$ 33,194,939
SouthState Corporation	364,610	31,002,788
		64,197,727
Building Products - 1.1%
Fortune Brands Innovations, Inc.	226,732	19,197,398

Capital Markets - 4.7%
Brookfield Asset Management Ltd. - Class A	397,940	16,721,439
Brookfield Corporation - Class A	1,591,760	66,646,991
		83,368,430
Construction Materials - 4.6%
Vulcan Materials Company	297,930	81,311,055

Diversified Financial Services - 3.1%
Berkshire Hathaway, Inc. - Class A ^(a)	86	54,561,840

Electronic Equipment, Instruments & Components - 16.5%
Amphenol Corporation - Class A	573,240	66,123,234
CDW Corporation	558,200	142,776,396
Keysight Technologies, Inc. ^(a)	175,200	27,397,776
Zebra Technologies Corporation - Class A ^(a)	179,460	54,096,422
		290,393,828
Food Products - 0.9%
McCormick & Company, Inc.	215,300	16,537,193

Health Care Equipment & Supplies - 4.2%
Stryker Corporation	208,000	74,436,960

Hotels, Restaurants & Leisure - 2.4%
Booking Holdings, Inc.	11,350	41,176,438

Insurance - 15.8%
Brown & Brown, Inc.	1,441,492	126,188,210
Markel Group, Inc. ^(a)	53,850	81,931,698

FAM VALUE FUND
SCHEDULE OF INVESTMENTS (Continued)

COMMON STOCKS - 96.4% (Continued)	Shares	Value
Insurance - 15.8% (Continued)
Progressive Corporation (The)	340,000	$ 70,318,800
		278,438,708
Life Sciences Tools & Services - 2.7%
Waters Corporation ^(a)	138,700	47,744,701

Machinery - 13.3%
Graco, Inc.	670,180	62,635,023
IDEX Corporation	431,530	105,301,950
Illinois Tool Works, Inc.	242,560	65,086,125
		233,023,098
Oil, Gas & Consumable Fuels - 1.7%
EOG Resources, Inc.	233,500	29,850,640

Professional Services - 1.9%
ExlService Holdings, Inc. ^(a)	1,072,900	34,118,220

Semiconductors & Semiconductor Equipment - 4.5%
Analog Devices, Inc.	279,510	55,284,283
Microchip Technology, Inc.	258,860	23,222,331
		78,506,614
Specialty Retail - 11.9%
AutoZone, Inc. ^(a)	18,265	57,564,887
CarMax, Inc. ^(a)	373,296	32,517,815
Ross Stores, Inc.	810,688	118,976,571
		209,059,273
Trading Companies & Distributors - 3.4%
Fastenal Company	780,900	60,238,626


Total Common Stocks (Cost $514,858,653)		$ 1,696,160,749

FAM VALUE FUND
SCHEDULE OF INVESTMENTS (Continued)

MONEY MARKET FUNDS - 2.8%	Shares	Value
Invesco Treasury Portfolio - Institutional Class, 5.21% ^(b) (Cost $49,441,010)	49,441,010	$ 49,441,010

Total Investments at Value - 99.2% (Cost $564,299,663)		$ 1,745,601,759

Other Assets in Excess of Liabilities - 0.8%		13,480,774

Net Assets - 100.0%		$ 1,759,082,533

^(a)	Non-income producing security.
^(b)	The rate shown is the 7-day effective yield as of March 31, 2024.

FAM DIVIDEND FOCUS FUND
SCHEDULE OF INVESTMENTS
March 31, 2024 (Unaudited)

COMMON STOCKS - 95.4%	Shares	Value
Aerospace & Defense - 3.4%
HEICO Corporation - Class A	166,705	$ 25,662,568

Building Products - 7.9%
Trane Technologies plc	200,300	60,130,060

Commercial Services & Supplies - 3.6%
Cintas Corporation	39,783	27,332,114

Commercial Support Services - 3.8%
Republic Services, Inc.	152,890	29,269,262

Construction Materials - 7.5%
Martin Marietta Materials, Inc.	47,380	29,088,477
Vulcan Materials Company	102,830	28,064,364
		57,152,841
Containers & Packaging - 2.9%
Avery Dennison Corporation	100,367	22,406,933

Distributors - 2.9%
Pool Corporation	53,900	21,748,650

Electronic Equipment, Instruments & Components - 8.4%
Amphenol Corporation - Class A	75,251	8,680,203
CDW Corporation	217,000	55,504,260
		64,184,463
Food Products - 1.0%
McCormick & Company, Inc.	103,200	7,926,792

Health Care Equipment & Supplies - 7.3%
STERIS plc	75,800	17,041,356
Stryker Corporation	107,000	38,292,090
		55,333,446
Industrial Conglomerates - 1.9%
Roper Technologies, Inc.	25,200	14,133,168

FAM DIVIDEND FOCUS FUND
SCHEDULE OF INVESTMENTS (Continued)

COMMON STOCKS - 95.4% (Continued)	Shares	Value
Insurance - 6.8%
Arthur J. Gallagher & Company	208,500	$ 52,133,340

IT Services - 10.8%
Broadridge Financial Solutions, Inc.	159,400	32,654,684
Jack Henry & Associates, Inc.	121,800	21,160,314
Paychex, Inc.	231,400	28,415,920
		82,230,918
Life Sciences Tools & Services - 1.9%
Agilent Technologies, Inc.	99,730	14,511,712

Machinery - 4.1%
IDEX Corporation	127,100	31,014,942

Professional Services - 2.2%
Verisk Analytics, Inc.	70,320	16,576,534

Semiconductors & Semiconductor Equipment - 9.6%
Entegris, Inc.	253,000	35,556,620
Microchip Technology, Inc.	414,920	37,222,473
		72,779,093
Specialty Retail - 4.6%
Ross Stores, Inc.	240,026	35,226,216

Trading Companies & Distributors - 4.8%
Fastenal Company	349,000	26,921,860
Watsco, Inc.	21,720	9,382,388
		36,304,248

Total Common Stocks (Cost $326,096,031)		$ 726,057,300

FAM DIVIDEND FOCUS FUND
SCHEDULE OF INVESTMENTS (Continued)

MONEY MARKET FUNDS - 4.6%	Shares	Value
Invesco Treasury Portfolio - Institutional Class, 5.21% ^(a) (Cost $34,799,883)	34,799,883	$ 34,799,883

Total Investments at Value - 100.0% (Cost $360,895,914)		$ 760,857,183

Liabilities in Excess of Other Assets - (0.0%) ^(b)		(26,937 )

Net Assets - 100.0%		$ 760,830,246

^(a)	The rate shown is the 7-day effective yield as of March 31, 2024.
^(b)	Percentage rounds to less than 0.1%.

FAM SMALL CAP FUND
SCHEDULE OF INVESTMENTS
March 31, 2024 (Unaudited)

COMMON STOCKS - 94.0%	Shares	Value
Banks - 9.5%
Home BancShares, Inc.	412,135	$ 10,126,157
Pinnacle Financial Partners, Inc.	184,100	15,810,508
SouthState Corporation	134,606	11,445,548
		37,382,213
Chemicals - 3.1%
Element Solutions, Inc.	485,730	12,133,535

Diversified Consumer Services - 3.0%
Frontdoor, Inc. ^(a)	364,875	11,887,627

Food Products - 3.8%
Nomad Foods Ltd.	763,815	14,940,221

Gas Utilities - 3.6%
Brookfield Infrastructure Corporation - Class A	389,775	14,047,491

Health Care Facilities & Services - 3.7%
Chemed Corporation	22,655	14,542,924

Hotels, Restaurants & Leisure - 6.6%
Choice Hotels International, Inc.	108,500	13,708,975
Dutch Bros, Inc. - Class A ^(a)	363,147	11,983,851
		25,692,826
Insurance - 5.6%
Hagerty, Inc. - Class A ^(a)	729,259	6,672,720
Trisura Group Ltd. ^(a)	492,980	15,158,257
		21,830,977
IT Services - 2.7%
Cass Information Systems, Inc.	222,645	10,724,810

Machinery - 2.8%
Franklin Electric Company, Inc.	104,500	11,161,645

FAM SMALL CAP FUND
SCHEDULE OF INVESTMENTS (Continued)

COMMON STOCKS - 94.0% (Continued)	Shares	Value
Media - 2.8%
Boston Omaha Corporation - Class A ^(a)	718,195	$ 11,103,295

Multi-Line Retail - 3.1%
Ollie's Bargain Outlet Holdings, Inc. ^(a)	150,550	11,979,264

Professional Services - 16.4%
CBIZ, Inc. ^(a)	415,227	32,595,319
ExlService Holdings, Inc. ^(a)	634,470	20,176,146
Exponent, Inc.	139,437	11,530,046
		64,301,511
Real Estate Management & Development - 8.3%
Colliers International Group, Inc.	167,455	20,468,025
FirstService Corporation	72,534	12,026,137
		32,494,162
Real Estate Owners & Developers - 4.1%
Dream Finders Homes, Inc. - Class A ^(a)	364,785	15,952,048

Road & Rail - 3.2%
Landstar System, Inc.	65,700	12,664,332

Software - 5.4%
Descartes Systems Group, Inc. (The) ^(a)	101,200	9,262,836
SPS Commerce, Inc. ^(a)	65,008	12,019,979
		21,282,815
Specialty Retail - 2.7%
Floor & Decor Holdings, Inc. - Class A ^(a)	80,558	10,441,928

Trading Companies & Distributors - 3.6%
SiteOne Landscape Supply, Inc. ^(a)	81,427	14,213,083


Total Common Stocks (Cost $226,912,884)		$ 368,776,707

FAM SMALL CAP FUND
SCHEDULE OF INVESTMENTS (Continued)

MONEY MARKET FUNDS - 6.0%	Shares	Value
Invesco Treasury Portfolio - Institutional Class, 5.21% ^(b) (Cost $23,619,668)	23,619,668	$ 23,619,668

Total Investments at Value - 100.0% (Cost $250,532,552)		$ 392,396,375

Liabilities in Excess of Other Assets - (0.0%) ^(c)		(68,194 )

Net Assets - 100.0%		$ 392,328,181

^(a)	Non-income producing security.
^(b)	The rate shown is the 7-day effective yield as of March 31, 2024.
^(c)	Percentage rounds to less than 0.1%.