13F
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FENIMORE ASSET MANAGEMENT INC

13F equity value
$4.5B
Positions
92
Top 10 concentration
39.6%
Quarters / total new picks
28 / 125
13F equity value over time
$0M$3B$5B2017201820192020202120222023202420252026

"13F equity value" = market value of this filer's US-listed long equity positions only. It excludes cash, bonds, non-US and short positions, so it understates a fund's true assets under management — often by a lot.

Not significant Verdict

13F holdings are disclosed ~45 days after quarter-end, and they never reveal when within the quarter a fund actually bought. So any 13F-based summary is structurally late and blurred — this applies to every fund, including this one.

We backtested copying it anyway. Buying this fund's new positions the day each filing went public, over 28 quarters, returned +1.4% per quarter — versus +3.3% per quarter from simply owning every 13F stock. It beat that baseline in only 39.3% of quarters (excess t = -0.86, not statistically significant). Its filings tell you what it bought — not what you should buy.

Avg 2Q excess
-2.6%
t-stat
-0.86
Quarterly win rate
39%
Annualized excess
-9.0%
$1 → follow vs universe
$1.22 vs $2.20
Cumulative return: $1 invested in new picks vs universe
1.00 20180331: universe 1.04120180630: universe 0.95920180930: universe 1.00320181231: universe 0.99220190331: universe 0.97520190630: universe 1.04820190930: universe 1.12720191231: universe 0.90920200331: universe 1.09620200630: universe 1.21120200930: universe 1.48520201231: universe 1.55320210331: universe 1.56620210630: universe 1.69220211231: universe 1.44020220630: universe 1.33420220930: universe 1.43320221231: universe 1.33120230630: universe 1.28320230930: universe 1.45620231231: universe 1.52120240331: universe 1.55620240630: universe 1.69720240930: universe 1.68220250331: universe 1.83420250630: universe 1.89220250930: universe 2.12720251231: universe 2.201 20180331: follow 1.02320180630: follow 0.85020180930: follow 0.82420181231: follow 0.94020190331: follow 0.91920190630: follow 0.97120190930: follow 0.92420191231: follow 0.80520200331: follow 1.02820200630: follow 1.09320200930: follow 1.08420201231: follow 1.18620210331: follow 1.18020210630: follow 1.22720211231: follow 1.06420220630: follow 0.98320220930: follow 1.10520221231: follow 1.04420230630: follow 1.16620230930: follow 1.32320231231: follow 1.55720240331: follow 1.37120240630: follow 1.69620240930: follow 1.63620250331: follow 1.39520250630: follow 1.35620250930: follow 1.17520251231: follow 1.223 0.74 1.56 2.38 20182019202020212022202320242025 Follow Universe

Quarterly compounding, invested quarters only · entry 47 days after quarter-end (when 13F data becomes public)

Listed as facts. See the verdict above before treating this as signal.

Top 20 holdings of 92 · 2026 Q1

Ticker Value Weight QoQ
ROST $295M
6.6%
TRIM
APH $196M
4.4%
TRIM
VMC $179M
4.0%
HOLD
SYK $171M
3.8%
HOLD
FAST $170M
3.8%
TRIM
MKL $166M
3.7%
HOLD
KEYS $152M
3.4%
TRIM
IEX $151M
3.4%
TRIM
ADI $151M
3.4%
TRIM
TT $147M
3.3%
TRIM
BRO $145M
3.2%
HOLD
BN $139M
3.1%
TRIM
AJG $123M
2.7%
ADD
PGR $109M
2.4%
HOLD
AZO $108M
2.4%
TRIM
CDW $108M
2.4%
TRIM
ITW $101M
2.3%
HOLD
GGG $93M
2.1%
HOLD
MCHP $92M
2.0%
HOLD
LSTR $91M
2.0%
ADD

QoQ vs previous quarter's share count · NEW = new position · ADD/TRIM = ±2% shares · HOLD = unchanged.

Listed as facts. See the verdict above before treating this as signal.

New positions in 2026 Q1

COSTGILGLWSPGI

Method & Limitations

Method: a "new position" = held this quarter, absent last quarter (options excluded; stocks with <50 prior holders excluded to filter spin-off artifacts). Entry 47 days after quarter-end — the first day the public could act on the filing. Benchmark = equal-weighted universe of all 13F-held stocks. Limitations: quarterly snapshots can't see intra-quarter trades; survivorship bias — funds that shut down are absent, which flatters the sample. Statistics, not advice.