<PAGE> PAGE 1
000 B000000 12/31/95
000 C000000 0000797136
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 3.0
000 J000000 A
001 A000000 FENIMORE ASSET MANAGEMENT TRUST
001 B000000 811-4750
001 C000000 5182344393
002 A000000 118 NORTH GRAND STREET, P.O. BOX 310
002 B000000 COBLESKILL
002 C000000 NY
002 D010000 12043
003 000000 Y
004 000000 N
005 000000 N
006 000000 N
007 A000000 Y
007 B000000 1
007 C010100 1
007 C020100 FAM VALUE FUND
007 C030100 N
007 C010200 2
007 C010300 3
007 C010400 4
007 C010500 5
007 C010600 6
007 C010700 7
007 C010800 8
007 C010900 9
007 C011000 10
007 C011100 11
007 C011200 12
007 C011300 13
007 C011400 14
007 C011500 15
007 C011600 16
007 C011700 17
007 C011800 18
007 C011900 19
007 C012000 20
007 C012100 21
007 C012200 22
007 C012300 23
007 C012400 24
007 C012500 25
007 C012600 26
007 C012700 27
<PAGE> PAGE 2
007 C012800 28
007 C012900 29
007 C013000 30
007 C013100 31
007 C013200 32
007 C013300 33
007 C013400 34
007 C013500 35
007 C013600 36
007 C013700 37
007 C013800 38
007 C013900 39
007 C014000 40
020 A000001 WECKSTEIN & COMPANY
020 B000001 13-3409532
020 C000001 7
020 A000002 CONNING & COMPANY
020 B000002 06-1174588
020 C000002 4
020 A000003 ROBINSON HUMPHREY
020 B000003 13-2869611
020 C000003 4
020 A000004 BURNHAM SECURITIES
020 B000004 13-3435435
020 C000004 4
020 A000005 PAINE WEBER
020 B000005 13-2638166
020 C000005 4
020 A000006 BLACK & COMPANY
020 B000006 93-0479581
020 C000006 2
020 A000007 OPPENHEIMER
020 B000007 13-2798343
020 C000007 2
020 A000008 AXIOM PARTNERS
020 B000008 13-3299429
020 C000008 1
020 A000009 AMERICAN SECURITIES
020 B000009 13-5523291
020 C000009 1
020 C000010 0
021 000000 29
022 A000001 MERRILL LYNCH
022 B000001 13-5674085
022 C000001 21778
022 D000001 68
022 A000002 BLACK & COMPANY
022 B000002 93-0479581
022 C000002 4968
022 D000002 5617
022 A000003 KIRKPATRICK PETTES
<PAGE> PAGE 3
022 B000003 47-0301070
022 C000003 4949
022 D000003 3299
022 A000004 JEFFRIES & COMPANY
022 B000004 95-2622900
022 C000004 426
022 D000004 7469
022 A000005 ROBINSON HUMPHREY
022 B000005 13-2869611
022 C000005 6629
022 D000005 0
022 A000006 WECKSTEIN
022 B000006 13-3409532
022 C000006 5078
022 D000006 939
022 A000007 MCDONALD
022 B000007 34-0642435
022 C000007 849
022 D000007 5061
022 A000008 VAN CASPER
022 B000008 52-1319768
022 C000008 2190
022 D000008 0
022 A000009 CONNING & COMPANY
022 B000009 06-1174588
022 C000009 1008
022 D000009 1156
022 A000010 COWEN & COMPANY
022 B000010 13-5616116
022 C000010 2145
022 D000010 0
023 C000000 56574
023 D000000 46378
026 A000000 N
026 B000000 Y
026 C000000 N
026 D000000 Y
026 E000000 N
026 F000000 N
026 G010000 N
026 G020000 N
026 H000000 N
027 000000 Y
077 A000000 Y
077 B000000 Y
077 C000000 N
077 D000000 N
077 E000000 N
077 F000000 N
077 G000000 N
077 H000000 N
<PAGE> PAGE 4
077 I000000 N
077 J000000 N
077 K000000 N
077 L000000 N
077 M000000 N
077 N000000 N
077 O000000 N
077 P000000 N
078 000000 N
008 A000101 FENIMORE ASSET MANAGEMENT, INC
008 B000101 A
008 C000101 801-10429
008 D010101 COBLESKILL
008 D020101 NY
008 D030101 12043
012 A000101 FENIMORE ASSET MANAGEMENT TRUST
012 B000101 84-5483
012 C010101 COBLESKILL
012 C020101 NY
012 C030101 12043
013 A000101 MCGLADREY & PULLEN, LLP
013 B010101 NEW YORK
013 B020101 NY
013 B030101 10017
013 B040101 2416
015 A000101 CHASE MANHATTAN BANK, NA
015 B000101 C
015 C010101 NEW YORK
015 C020101 NY
015 C030101 10003
015 C040101 9598
015 E010101 X
018 000100 Y
019 A000100 N
019 B000100 0
024 000100 N
025 D000101 0
025 D000102 0
025 D000103 0
025 D000104 0
025 D000105 0
025 D000106 0
025 D000107 0
025 D000108 0
028 A010100 3563
028 A020100 0
028 A030100 0
028 A040100 4354
028 B010100 4429
028 B020100 0
028 B030100 0
<PAGE> PAGE 5
028 B040100 3212
028 C010100 3461
028 C020100 0
028 C030100 0
028 C040100 3492
028 D010100 3156
028 D020100 0
028 D030100 0
028 D040100 2949
028 E010100 2151
028 E020100 0
028 E030100 0
028 E040100 2193
028 F010100 2824
028 F020100 6136
028 F030100 0
028 F040100 2257
028 G010100 19584
028 G020100 6136
028 G030100 0
028 G040100 18457
028 H000100 0
029 000100 N
030 A000100 0
030 B000100 0.00
030 C000100 0.00
034 000100 N
035 000100 0
036 B000100 0
037 000100 N
038 000100 0
039 000100 N
040 000100 N
045 000100 Y
046 000100 N
047 000100 Y
048 000100 1.000
048 A010100 0
048 A020100 0.000
048 B010100 0
048 B020100 0.000
048 C010100 0
048 C020100 0.000
048 D010100 0
048 D020100 0.000
048 E010100 0
048 E020100 0.000
048 F010100 0
048 F020100 0.000
048 G010100 0
048 G020100 0.000
<PAGE> PAGE 6
048 H010100 0
048 H020100 0.000
048 I010100 0
048 I020100 0.000
048 J010100 0
048 J020100 0.000
048 K010100 0
048 K020100 0.000
049 000100 N
050 000100 Y
051 000100 N
052 000100 N
053 A000100 N
054 A000100 Y
054 B000100 Y
054 C000100 Y
054 D000100 N
054 E000100 N
054 F000100 N
054 G000100 N
054 H000100 Y
054 I000100 N
054 J000100 Y
054 K000100 N
054 L000100 N
054 M000100 Y
054 N000100 N
054 O000100 N
055 A000100 N
055 B000100 N
056 000100 Y
057 000100 N
058 A000100 N
059 000100 Y
060 A000100 Y
060 B000100 Y
061 000100 2000
062 A000100 N
062 B000100 0.0
062 C000100 0.0
062 D000100 0.0
062 E000100 0.0
062 F000100 0.0
062 G000100 0.0
062 H000100 0.0
062 I000100 0.0
062 J000100 0.0
062 K000100 0.0
062 L000100 0.0
062 M000100 0.0
062 N000100 0.0
<PAGE> PAGE 7
062 O000100 0.0
062 P000100 0.0
062 Q000100 0.0
062 R000100 0.0
066 A000100 Y
066 B000100 N
066 C000100 N
066 D000100 N
066 E000100 Y
066 F000100 N
066 G000100 N
067 000100 N
068 A000100 N
068 B000100 N
069 000100 N
070 A010100 N
070 A020100 N
070 B010100 N
070 B020100 N
070 C010100 N
070 C020100 N
070 D010100 N
070 D020100 N
070 E010100 N
070 E020100 N
070 F010100 N
070 F020100 N
070 G010100 N
070 G020100 N
070 H010100 N
070 H020100 N
070 I010100 N
070 I020100 N
070 J010100 N
070 J020100 N
070 K010100 N
070 K020100 N
070 L010100 Y
070 L020100 N
070 M010100 N
070 M020100 N
070 N010100 N
070 N020100 N
070 O010100 N
070 O020100 N
070 P010100 N
070 P020100 N
070 Q010100 N
070 Q020100 N
070 R010100 N
070 R020100 N
<PAGE> PAGE 8
071 A000100 31787
071 B000100 21378
071 C000100 221118
071 D000100 10
072 A000100 12
072 B000100 987
072 C000100 4225
072 D000100 0
072 E000100 0
072 F000100 2395
072 G000100 0
072 H000100 0
072 I000100 337
072 J000100 31
072 K000100 0
072 L000100 106
072 M000100 12
072 N000100 32
072 O000100 0
072 P000100 0
072 Q000100 0
072 R000100 35
072 S000100 44
072 T000100 0
072 U000100 0
072 V000100 0
072 W000100 11
072 X000100 3003
072 Y000100 0
072 Z000100 2209
072AA000100 4211
072BB000100 0
072CC010100 37400
072CC020100 0
072DD010100 2209
072DD020100 0
072EE000100 4211
073 A010100 0.2100
073 A020100 0.0000
073 B000100 0.4000
073 C000100 0.0000
074 A000100 19084
074 B000100 0
074 C000100 0
074 D000100 0
074 E000100 0
074 F000100 248135
074 G000100 0
074 H000100 0
074 I000100 0
074 J000100 0
<PAGE> PAGE 9
074 K000100 0
074 L000100 451
074 M000100 0
074 N000100 267670
074 O000100 111
074 P000100 0
074 Q000100 0
074 R010100 0
074 R020100 0
074 R030100 0
074 R040100 401
074 S000100 0
074 T000100 267158
074 U010100 10869
074 U020100 0
074 V010100 24.58
074 V020100 0.00
074 W000100 0.0000
074 X000100 18237
074 Y000100 0
075 A000100 0
075 B000100 221118
076 000100 0.00
080 A000100 GULF INSURANCE
080 C000100 775
081 A000100 Y
081 B000100 2
082 A000100 Y
082 B000100 5
083 A000100 N
083 B000100 0
084 A000100 N
084 B000100 0
085 A000100 Y
085 B000100 N
SIGNATURE DIANE C. VAN BUREN
TITLE SECRETARY
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000797136
<NAME> FENIMORE ASSET MANAGEMENT TRUST
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> DEC-31-1995
<PERIOD-START> JAN-1-1995
<PERIOD-END> DEC-31-1995
<INVESTMENTS-AT-COST> 196,457,142
<INVESTMENTS-AT-VALUE> 248,134,693
<RECEIVABLES> 450,474
<ASSETS-OTHER> 19,084,505
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 267,669,672
<PAYABLE-FOR-SECURITIES> 110,938
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 400,798
<TOTAL-LIABILITIES> 511,736
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 215,479,628
<SHARES-COMMON-STOCK> 10,868,081
<SHARES-COMMON-PRIOR> 10,006,974
<ACCUMULATED-NII-CURRENT> 725
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 32
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 51,677,551
<NET-ASSETS> 267,157,936
<DIVIDEND-INCOME> 4,225,261
<INTEREST-INCOME> 986,691
<OTHER-INCOME> 0
<EXPENSES-NET> (3,003,105)
<NET-INVESTMENT-INCOME> 2,208,847
<REALIZED-GAINS-CURRENT> 4,211,001
<APPREC-INCREASE-CURRENT> 37,399,564
<NET-CHANGE-FROM-OPS> 43,819,412
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (2,209,176)
<DISTRIBUTIONS-OF-GAINS> (4,210,980)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 2,306,111
<NUMBER-OF-SHARES-REDEEMED> 1,696,462
<SHARES-REINVESTED> 251,458
<NET-CHANGE-IN-ASSETS> 56,578,856
<ACCUMULATED-NII-PRIOR> 1,054
<ACCUMULATED-GAINS-PRIOR> 11
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 2,395,056
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 3,003,105
<AVERAGE-NET-ASSETS> 221,118
<PER-SHARE-NAV-BEGIN> 21.04
<PER-SHARE-NII> .21
<PER-SHARE-GAIN-APPREC> 3.94
<PER-SHARE-DIVIDEND> (.21)
<PER-SHARE-DISTRIBUTIONS> (.40)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 24.58
<EXPENSE-RATIO> 1.25
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
REPORT OF CERTIFIED PUBLIC ACCOUNTANTS
The Board of Trustees
FAM Value Fund
In planning and performing our audit of the financial statements of FAM Value
Fund for the year ended December 31, 1995, we considered its internal control
structure, including procedures for safeguarding securities, in order to
determine our auditing procedures for the purpose of expressing our opinion
on the financial statements and not to provide assurance on the internal
control structure. The management of FAM Value Fund is responsible for
establishing and maintaining an internal control structure. In fulfilling
this responsibility, estimates and judgments by management are required to
assess the expected benefits and related costs of internal control structure
policies and procedures. Two of the objectives of an internal control
structure are to provide management with reasonable, but not absolute,
assurance that assets are safeguarded against loss from unauthorized use or
disposition and that transactions are executed in accordance with management's
authorization and recorded properly to permit preparation of financial
statements in conformity with generally accepted accounting principles.
Because of inherent limitations in any internal control structure, errors or
irregularities may occur and not be detected. Also, projection of any
evaluation of the structure to future periods is subject to the risk that it
may become inadequate because of changes in conditions or that the
effectiveness of its design and operation may deteriorate.
Our consideration of the internal control structure would not necessarily
disclose all matters in the internal control structure that might be material
weaknesses under standards established by the American Institute of Certified
Public Accountants. A material weakness is a condition in which the design or
operation of the specific internal control structure elements does not reduce
to a relatively low level the risk that errors or irregularities in amounts
that would be material in relation to the financial statements being audited
may occur and not be detected within a timely period by employees in the normal
course of performing their assigned functions. However, we noted no matters
involving the internal control structure, including procedures for safe
guarding securities, that we consider to be material weaknesses as defined
above as of December 31, 1995. This report is intended solely for the
information and use of management and the Securities and Exchange
Commission.
New York, New York
January 10, 1996
