Fiduciary Management

Fiduciary Management as of Sept. 30, 2012

Portfolio Holdings for Fiduciary Management

Fiduciary Management holds 0 positions in its portfolio as reported in the September 2012 quarterly 13F filing

                "Name of Reporting Manager:  Fiduciary Management, Inc."

Item I     Item 2 Item 3       Item 4  Item 5
{S}         {C}   {C}          {C}    {C}
Name of Issuer  Title Cusip      Fair   Shares
		 	          M/V    Prin

3M Co.          COM  88579Y101 652285 7,057,835

AJ Gallagher    COM  363576109  72171 2,014,825

Accenture Plc   COM  G1151C101 512263 7,314,914

Advance Auto ParCOM  00751Y106  86824 1,268,615

American ExpressCOM  025816109 363440 6,391,831

AmerisourceBergeCOM  03073E105 378256 9,771,528

Anixter InternatCOM  035290105  62331 1,084,780

Aptar Group     COM  038336103  85638 1,656,120

Arrow Elec      COM  042735100 125355 3,718,629

Automatic Data  COM  053015103 352635 6,011,513

Avery Dennison  COM  053611109  52074 1,636,516

Bank of NY Mell COM  064058100 60363226,685,777

Bemis Company   COM  081437105   1147    36,450

Berkshire Hath Cl B  084670207 618386 7,011,176

Bio-Rad Labs    COM  090572207  70086   656,730

Bristow Group   COM  110394103  42221   835,230

Broadrige FinancCOM  11133T103  84976 3,642,347

Carlisle Cos IncCOM  142339100  80715 1,554,607

Cimarex Entergy COM  171798101  96823 1,653,685

Cintas Corp     COM  172908105 41662110,051,164

Comerica Inc.	COM  200340107 39871012,840,907

Compass MinteralCOM  20451N101  62714   840,780

Covance Inc     COM  222816100  65375 1,400,186

Covidien Ltd.   COM  G2554F113 471357 7,932,635

Cullen/Frost BanCOM  229899109  88400 1,539,261

Devon Energy Co COM  25179M103 503467 8,321,774

Dun & BradstreetCOM  26483E100  61544   772,975

Expeditors InterCOM  302130109 345799 9,510,434

Family Dollar StCOM  307000109  44867   676,721

First Bus Fin SvCOM  319390100    601    24,948

Forward Air CorpCOM  349853101  26983   887,310

Gentex Corp     COM  371901109  46567 2,737,615

Glaxosmithkline COM  37733w105 396577 8,576,492

H.B. Fuller CompCOM  359694106  61375 2,000,490

Harte-Hanks Inc COM  416196103  19980 2,883,089

Illinois Tool WoCOM  452308109 489691 8,234,246

Ingersoll-Rand  COM  G47791101 315478 7,038,781

Innophos HoldingCOM  45774N108  58460 1,205,613

Jack Henry & AssCOM  426281101  51749 1,365,416

Kennametal Inc.	COM  489170100  86144 2,323,205

Kimberly-Clark  COM  494368103 467195 5,446,427

Kirby Corp      COM  497266106  40302   729,059

Kohls Corp	COM  500255104 290736 5,676,227

MKS Instruments COM  55306N104  41956 1,645,985

McDermott Inter COM  580037109  48126 3,938,270

Microsoft Corp  COM  594918104 33502711,250,062

Mine Safety     COM  602720104  39397 1,057,063

Molex Inc - ClA COM  608554200  95133 4,379,966

Monsanto Co     COM  61166W101 275209 3,023,614

Nestle SA ADR   COM  641069406 355341 5,621,587

Omnicom Group	COM  681919106 424382 8,230,839

Owens & Minor, ICOM  690732102  44642 1,494,050

PICO Holdings InCOM  693366205  15213   666,631

Patterson Cos InCOM  703395103 145622 4,252,970

Protective Life COM  743674103  68560 2,651,796

Ryder Systems InCOM  783549108  49553 1,268,640

SPX Inc         COM  784635104  70370 1,075,825

Scansource Inc  COM  806037107  71739 2,240,457

Schlumberger LtdCOM  806857108 326324 4,511,594

Sigma Aldrich CoCOM  826552101  60765   844,310

Sysco Corp      COM  871829107 54148217,316,329

TE Connectivity COM  H84989104 44517013,089,388

Time Warner Inc COM  887317303 356945 7,874,355

VCA Antech Inc  COM  918194101  40789 2,067,370

W.R Berkley CorpCOM  084423102  90124 2,403,946

Wal Mart Stores COM  931142103 474007 6,422,862

West PharmaceutiCOM  955306105  53630 1,010,559

Willis Group HolCOM  G96666105 259438 7,027,022

World Fuel ServiCOM  981475106  54195 1,521,890