Fiduciary Management Associates

Fiduciary Management Associates as of Dec. 31, 2011

Portfolio Holdings for Fiduciary Management Associates

Fiduciary Management Associates holds 0 positions in its portfolio as reported in the December 2011 quarterly 13F filing

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						 FIDUCIARY MANAGEMENT ASSOCIATES, LLC

						    FORM 13F INFORMATION TABLE
                                            	      AS OF DATE:  12/31/11

                  		TITLE OF           VALUE     SHARES/  SH/PUT/   INVSTMT  OTHER    VOTING AUTHORITY
NAME OF ISSUER    		CLASS    CUSIP     (x$1000)  PRN AMT  PRN CALL  DSCRETN  MGRS     SOLE   SHARED   NONE
--------------    		-------- -------   --------  -------  --------  -------  ------   --------------------
ACACIA RESEARCH			COM	 003881307   14828    406140	SH	Sole		  364820    0	 41320
ADTRAN INC			COM	 00738A106     524     17380	SH	Sole		   17380    0	     0
AFFILIATED MANAGERS GROUP INC	COM	 008252108     817	8520	SH	Sole		    8320    0	   200
AKORN INC			COM	 009728106   13176   1184935	SH	Sole		 1065195    0	119740
ALLETE INC			COM	 018522300   13518    322020	SH	Sole		  289990    0	 32030
AMETEK INC			COM	 031100100     702     16670	SH	Sole		   16670    0	     0
AMPHENOL CORP			COM	 032095101     616     13580	SH	Sole		   13580    0	     0
ANIXTER INTERNATIONAL INC	COM	 035290105   16021    268630	SH	Sole		  241280    0	 27350
ANSYS INC			COM	 03662Q105     704     12290	SH	Sole		   12290    0	     0
APPLE INC			COM	 037833100     488	1205	SH	Sole		    1075    0	   130
ARBITRON INC			COM	 03875Q108   16635    483440	SH	Sole		  434470    0	 48970
ASBURY AUTOMOTIVE GROUP INC	COM	 043436104   17598    816250	SH	Sole		  730640    0	 85610
AT^T INC			COM	 00206R102     341     11275	SH	Sole		   10475    0	   800
ATWOOD OCEANICS INC		COM	 050095108   13377    336190	SH	Sole		  302660    0	 33530
BALL CORP			COM	 058498106     661     18500	SH	Sole		   18500    0        0
BANK OF THE OZARKS INC		COM	 063904106   18560    626402	SH	Sole		  560132    0	 66270
BERKSHIRE HATHAWAY INC - CL B	COM	 084670702     213	2790	SH	Sole		    2600    0	   190
BOEING CO			COM	 097023105     271	3700	SH	Sole		    3360    0	   340
BORGWARNER INC			COM	 099724106     671     10520	SH	Sole		   10270    0	   250
BUCKLE INC/THE			COM	 118440106   12665    309880	SH	Sole		  277320    0	 32560
CAREFUSION CORP			COM	 14170T101     484     19040	SH	Sole		   19040    0	     0
CARLISLE COS INC		COM	 142339100   13026    294040	SH	Sole		  263140    0	 30900
CHEVRON CORP			COM	 166764100     364      3420	SH	Sole		    3120    0	   300
CHURCH & DWIGHT CO INC		COM	 171340102     697     15240	SH	Sole		   14810    0	   430
CIRRUS LOGIC INC		COM	 172755100   15530    979810	SH	Sole		  876470    0	103340
CISCO SYSTEMS INC		COM	 17275R102     306     16950	SH	Sole		   15420    0	  1530
CITIGROUP INC			COM	 172967424     220	8360	SH	Sole		    7657    0	   703
CLARCOR INC			COM	 179895107   15014    300350	SH	Sole		  268810    0	 31540
CMS ENERGY CORP			COM	 125896100     795     36020	SH	Sole		   36020    0	     0
COCA-COLA CO/THE		COM	 191216100     874     12497	SH	Sole		   12497    0	     0
COHERENT INC			COM	 192479103   15497    296480	SH	Sole		  265270    0	 31210
COLONIAL PROPERTIES TRUST	COM	 195872106   20472    981410	SH	Sole		  878160    0	103250
COMERICA INC			COM	 200340107     485     18810	SH	Sole		   18810    0	     0
CVS CAREMARK CORP		COM	 126650100     261	6400	SH	Sole		    5800    0	   600
CYBERONICS INC			COM	 23251P102   13807    412140	SH	Sole		  368910    0	 43230
DANAHER CORP			COM	 235851102     240	5105	SH	Sole		    4615    0	   490
DRESSER-RAND GROUP INC		COM	 261608103     691     13835	SH	Sole		   13465    0	   370
EAST WEST BANCORP INC		COM	 27579R104     720     36460	SH	Sole		   36460    0	     0
EI DU PONT DE NEMOURS & CO	COM	 263534109     219	4775	SH	Sole		    4305    0	   470
ELIZABETH ARDEN INC		COM	 28660G106   17338    468080	SH	Sole		  420630    0	 47450
ENERGEN CORP			COM	 29265N108     682     13640	SH	Sole		   13640    0	     0
ENTERTAINMENT PROPERTIES TRUST	COM	 29380T105   18573    424910	SH	Sole		  381760    0	 43150
ETHAN ALLEN INTERIORS INC	COM	 297602104   13304    561130	SH	Sole		  504250    0	 56880
EVERCORE PARTNERS INC		COM	 29977A105   18180    682940	SH	Sole		  613730    0	 69210
EXELON CORP			COM	 30161N101     259      5980	SH	Sole		    5480    0	   500
EXPRESS INC			COM	 30219E103   17080    856585	SH	Sole		  769870    0	 86715
EXTRA SPACE STORAGE INC		COM	 30225T102   19964    823930	SH	Sole		  740150    0	 83780
EXXON MOBIL CORP		COM	 30231G102     463	5460	SH	Sole		    4945    0	   515
FIFTH THIRD BANCORP		COM	 316773100     171     13480	SH	Sole		   12250    0	  1230
FIRST MIDWEST BANCORP INC/IL	COM	 320867104   13751   1357415	SH	Sole		 1214745    0	142670
FNB CORP/PA			COM	 302520101   15686   1386940	SH	Sole		 1241480    0	145460
FOSSIL INC			COM	 349882100     459      5780	SH	Sole		    5780    0	     0
GENERAL ELECTRIC CO		COM	 369604103     312     17420	SH	Sole		   16100    0	  1320
GENESEE & WYOMING INC		COM	 371559105   12363    204082	SH	Sole		  182672    0	 21410
GEORESOURCES INC		COM	 372476101   12883    439536	SH	Sole		  393396    0	 46140
GULFMARK OFFSHORE INC		COM	 402629208   16091    383030	SH	Sole		  342860    0	 40170
HANCOCK HOLDING CO		COM	 410120109   19615    613530	SH	Sole		  549010    0	 64520
HEXCEL CORP			COM	 428291108   17138    707870	SH	Sole		  636530    0	 71340
HIBBETT SPORTS INC		COM	 428567101   12354    273450	SH	Sole		  244700    0	 28750
HIGHWOODS PROPERTIES INC	COM	 431284108   18524    624320	SH	Sole		  558820    0	 65500
HOME PROPERTIES INC		COM	 437306103     687     11940	SH	Sole		   11940    0	     0
HOSPITALITY PROPERTIES TRUST	COM	 44106M102     484     21070	SH	Sole		   21070    0	     0
IDEX CORP			COM	 45167R104     488     13140	SH	Sole		   13140    0	     0
IMPAX LABORATORIES INC		COM	 45256B101   14265    707251	SH	Sole		  632841    0	 74410
INTEL CORP			COM	 458140100     218      9000	SH	Sole		    8340    0	   660
INTL BUSINESS MACHINES CORP	COM	 459200101     355      1930	SH	Sole		    1730    0	   200
IROBOT CORP			COM	 462726100   16963    568265	SH	Sole		  510785    0	 57480
ISHARES RUSSELL 2000 INDEX FUND	COM	 464287655     267      3630	SH	Sole		    3630    0	     0
J2 GLOBAL INC			COM	 48123V102   12904    458580	SH	Sole		  410350    0	 48230
JACK HENRY & ASSOCIATES INC	COM	 426281101   12970    385900	SH	Sole		  347010    0	 38890
JDS UNIPHASE CORP		COM	 46612J507     173     16530	SH	Sole		   15000    0	  1530
JM SMUCKER CO/THE		COM	 832696405     730	9340	SH	Sole		    9115    0	   225
JOHNSON & JOHNSON		COM	 478160104     432	6580	SH	Sole		    6010    0	   570
JONES LANG LASALLE INC		COM	 48020Q107     524	8550	SH	Sole		    8550    0	     0
JPMORGAN CHASE & CO		COM	 46625H100     317	9530	SH	Sole		    8800    0	   730
KEYCORP				COM	 493267108     816    106160	SH	Sole		  106160    0	     0
KRAFT FOODS INC			COM	 50075N104     261	6998	SH	Sole		    6318    0	   680
LATTICE SEMICONDUCTOR CORP	COM	 518415104   16228   2731910	SH	Sole		 2445080    0	286830
LIFEPOINT HOSPITALS INC		COM	 53219L109   15365    413590	SH	Sole		  371400    0	 42190
LITTELFUSE INC			COM	 537008104   11580    269430	SH	Sole		  241100    0	 28330
LIVEPERSON INC			COM	 538146101   17228   1372770	SH	Sole		 1228510    0	144260
LKQ CORP			COM	 501889208     546     18150	SH	Sole		   18150    0	     0
MACY'S INC			COM	 55616P104     240      7470	SH	Sole		    6760    0	   710
MATTRESS FIRM HOLDING CORP	COM	 57722W106     474     20440	SH	Sole		   20440    0	     0
MCDONALD'S CORP			COM	 580135101     213	2120	SH	Sole		    1940    0	   180
MEDICAL PROPERTIES TRUST INC	COM	 58463J304   14145   1433120	SH	Sole		 1288040    0	145080
MONRO MUFFLER			COM	 610236101   18757    483560	SH	Sole		  432700    0	 50860
NASDAQ STOCK MARKET INC/THE	COM	 631103108     639     26080	SH	Sole		   26080    0	     0
NATIONAL OILWELL VARCO INC	COM	 637071101     243	3580	SH	Sole		    3270    0	   310
NORTHWESTERN CORP		COM	 668074305   18735    523462	SH	Sole		  468552    0	 54910
OCCIDENTAL PETROLEUM CORP	COM	 674599105     324      3460	SH	Sole		    3150    0	   310
OLD DOMINION FREIGHT LINE	COM	 679580100   13288    327860	SH	Sole		  294940    0	 32920
OLD NATIONAL BANCORP/IN		COM	 680033107   12986   1114638	SH	Sole		  997478    0	117160
ORACLE CORP			COM	 68389X105     223      8680	SH	Sole		    7780    0	   900
ORBITAL SCIENCES CORP		COM	 685564106   15227   1048000	SH	Sole		  937640    0	110360
OSI SYSTEMS INC			COM	 671044105   19774    405370	SH	Sole		  364300    0	 41070
PEOPLE'S UNITED			COM	 712704105     502     39070	SH	Sole		   39070    0	     0
PFIZER INC			COM	 717081103     477     22060	SH	Sole		   20130    0	  1930
POLYPORE INTERNA		COM	 73179V103   12570    285750	SH	Sole		  256820    0	 28930
PORTLAND GENERAL ELECTRIC CO	COM	 736508847   15502    612950	SH	Sole		  551400    0	 61550
PROCTER & GAMBLE CO		COM	 742718109     249      3730	SH	Sole		    3390    0	   340
PROSPERITY BANCSHARES INC	COM	 743606105   15490    383890	SH	Sole		  343540    0	 40350
QUALCOMM INC			COM	 747525103     222      4065	SH	Sole		    3665    0	   400
QUESTCOR PHARMACEUTICALS INC	COM	 74835Y101   11984    288210	SH	Sole		  259250    0	 28960
QUIDEL CORP			COM	 74838J101     473     31290	SH	Sole		   31290    0	     0
ROBBINS & MYERS INC		COM	 770196103   17647    363479	SH	Sole		  326709    0	 36770
ROPER INDUSTRIES INC		COM	 776696106     969     11160	SH	Sole		   10880    0	   280
ROSETTA RESOURCES INC		COM	 777779307   13475    309780	SH	Sole		  278500    0	 31280
SALLY BEAUTY HOLDINGS INC	COM	 79546E104     863     40860	SH	Sole		   40100    0	   760
SCHLUMBERGER LTD		COM	 806857108     229      3355	SH	Sole		    3055    0	   300
SCHNITZER STEEL INDUSTRIES INC	COM	 806882106   15568    368220	SH	Sole		  331010    0	 37210
SENIOR HOUSING PROPERTIES TRUST	COM	 81721M109     574     25600	SH	Sole		   25600    0	     0
SHUFFLE MASTER INC		COM	 825549108     619     52800	SH	Sole		   52800    0	     0
SIGNATURE BANK/NEW YORK NY	COM	 82669G104   20899    348380	SH	Sole		  312940    0	 35440
SIMON PROPERTY GROUP INC	COM	 828806109     264      2045	SH	Sole		    1845    0	   200
SKYWORKS SOLUTIONS INC		COM	 83088M102     710     43790	SH	Sole		   43790    0	     0
SNYDERS-LANCE INC		COM	 833551104   16982    754750	SH	Sole		  675280    0	 79470
SOLARWINDS INC			COM	 83416B109   11338    405650	SH	Sole		  364560    0	 41090
SOUTHERN CO/THE			COM	 842587107     273      5900	SH	Sole		    5420    0	   480
STEVEN MADDEN LTD		COM	 556269108   12395    359285	SH	Sole		  323005    0	 36280
SUPERIOR ENERGY SERVICES	COM	 868157108   13518    475310	SH	Sole		  427520    0	 47790
TANGER FACTORY OUTLET CENTRS	COM	 875465106   20406    695990	SH	Sole		  622770    0	 73220
TELEFLEX INC			COM	 879369106   19608    319925	SH	Sole		  287560    0	 32365
TEXAS INSTRUMENTS INC		COM	 882508104     227      7810	SH	Sole		    7070    0	   740
THOMAS & BETTS CORP		COM	 884315102   19525    357600	SH	Sole		  321370    0	 36230
TIME WARNER INC			COM	 887317303     213      5900	SH	Sole		    5370    0	   530
TITAN MACHINERY INC		COM	 88830R101   13138    604580	SH	Sole		  543390    0	 61190
TREEHOUSE FOODS INC		COM	 89469A104   18129    277290	SH	Sole		  249240    0	 28050
TRIUMPH GROUP INC		COM	 896818101   18522    316880	SH	Sole		  284860    0	 32020
TRUE RELIGION APPAREL INC	COM	 89784N104   19164    554200	SH	Sole		  498090    0	 56110
UNISOURCE ENERGY CORP		COM	 909205106   23836    645610	SH	Sole		  580200    0	 65410
UNITED STATIONERS INC		COM	 913004107   19234    590730	SH	Sole		  530900    0	 59830
VAIL RESORTS INC		COM	 91879Q109   18573    438450	SH	Sole		  394040    0	 44410
VERA BRADLEY INC		COM	 92335C106    2743     85060	SH	Sole		   76110    0	  8950
VERIZON COMMUNICATIONS INC	COM	 92343V104     272      6780	SH	Sole		    6200    0	   580
VIASAT INC			COM	 92552V100   18059    391560	SH	Sole		  351930    0	 39630
WADDELL & REED FINANCIAL INC	COM	 930059100   12131    489740	SH	Sole		  438330    0	 51410
WAL-MART STORES INC		COM	 931142103     246      4120	SH	Sole		    3750    0	   370
WALT DISNEY CO			COM	 254687106     258      6885	SH	Sole		    6255    0	   630
WASHINGTON REAL ESTATE 		COM	 939653101   16755    612630	SH	Sole		  548050    0	 64580
WEBSTER FINANCIAL CORP		COM	 947890109   19607    961590	SH	Sole		  860450    0	101140
WEINGARTEN REALTY INVESTORS	COM	 948741103     637     29190	SH	Sole		   29190    0	     0
WELLS FARGO & CO		COM	 949746101     293     10625	SH	Sole		    9805    0	   820
WESCO INTERNATIONAL INC		COM	 95082P105   20777    391940	SH	Sole		  352150    0	 39790
WGL HOLDINGS INC		COM	 92924F106   19230    434860	SH	Sole		  389120    0	 45740
WOLVERINE WORLD WIDE INC	COM	 978097103   12461    349622	SH	Sole		  313029    0	 36593
WOODWARD INC			COM	 980745103   19763    482850	SH	Sole		  434190    0	 48660
WYNDHAM WORLDWIDE CORP		COM	 98310W108     895     23660	SH	Sole		   23260    0	   400
ZEBRA TECHNOLOGIES CORP		COM	 989207105   18789    525130	SH	Sole		  471910    0	 53220


LINE COUNT: 149