Fund Description

The fund, advised by Fenimore Asset Management, Inc., uses a value approach to select common stocks based on the view that a company's stock price may trade below its "true business worth." True business worth is evaluated using current earnings and Fenimore's opinion of future earnings potential, seeking a favorable price-to-earnings relationship. Fenimore plans to hold securities until true business worth nears market price. The fund generally attempts to remain fully invested in common stocks and securities convertible into common stock, may invest across all market capitalizations, in domestic and foreign issuers, and in other investment companies, including ETFs.