Fiduciary Management

Fiduciary Management as of Dec. 31, 2012

Portfolio Holdings for Fiduciary Management

Fiduciary Management holds 0 positions in its portfolio as reported in the December 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 658767 7,094,958

AJ Gallagher    COM  363576109  68760 1,984,414

Accenture Plc   COM  G1151C101 520769 7,831,119

Advance Auto ParCOM  00751Y106  64733   894,724

American ExpressCOM  025816109 369618 6,430,378

AmerisourceBergeCOM  03073E105 424691 9,835,363

Anixter InternatCOM  035290105  68061 1,063,789

Aptar Group     COM  038336103  78587 1,646,829

Arrow Elec      COM  042735100 137854 3,620,117

Automatic Data  COM  053015103 344478 6,042,415

Avery Dennison  COM  053611109  55402 1,586,547

Bank of NY Mell COM  064058100 68541826,669,956

Berkshire Hath Cl B  084670207 633589 7,063,428

Bio-Rad Labs    COM  090572207  67637   643,859

Bristow Group   COM  110394103  43899   818,099

Broadrige FinancCOM  11133T103  86092 3,762,771

Carlisle Cos IncCOM  142339100  86685 1,475,246

Cimarex Entergy COM  171798101  98824 1,711,837

Cintas Corp     COM  172908105 41188410,070,503

Comerica Inc.	COM  200340107 39044512,868,985

Compass MinteralCOM  20451N101  61378   821,551

Covance Inc     COM  222816100  78481 1,358,506

Covidien Ltd.   COM  G2554F113 460904 7,982,412

Cullen/Frost BanCOM  229899109  86120 1,586,885

Danone SA ADR   COM  23636T100  74612 5,572,190

Devon Energy Co COM  25179M103 434401 8,347,437

Dun & BradstreetCOM  26483E100  59768   759,924

Expeditors InterCOM  302130109 377626 9,548,061

Family Dollar StCOM  307000109  42425   669,054

First Bus Fin SvCOM  319390100    573    24,948

Forward Air CorpCOM  349853101  31766   907,349

Gentex Corp     COM  371901109  68253 3,626,643

Glaxosmithkline COM  37733w105 374766 8,621,263

H.B. Fuller CompCOM  359694106  68060 1,954,615

Illinois Tool WoCOM  452308109 503243 8,275,670

Ingersoll-Rand  COM  G47791101 339631 7,081,557

Innophos HoldingCOM  45774N108  55295 1,189,150

Jack Henry & AssCOM  426281101  27784   707,687

Kennametal Inc.	COM  489170100  90339 2,258,470

Kimberly-Clark  COM  494368103 462746 5,480,820

Kirby Corp      COM  497266106  44437   717,992

MKS Instruments COM  55306N104  42195 1,636,732

McDermott Inter COM  580037109  54888 4,980,804

Microsoft Corp  COM  594918104 30155311,281,456

Mine Safety     COM  602720104  43736 1,024,020

Molex Inc - ClA COM  608554200  95153 4,263,123

Monsanto Co     COM  61166W101 289231 3,055,798

Nestle SA ADR   COM  641069406 368734 5,658,037

Omnicom Group	COM  681919106 414125 8,289,124

Owens & Minor, ICOM  690732102  41995 1,472,995

Paccar Inc.     COM  693718108 271007 5,994,403

Patterson Cos InCOM  703395103 141225 4,125,765

Protective Life COM  743674103  72469 2,535,644

Robert Half Inc COM  770323103  37395 1,175,197

Ryder Systems InCOM  783549108  62320 1,248,155

Scansource Inc  COM  806037107  69092 2,174,750

Schlumberger LtdCOM  806857108 313292 4,521,464

Sigma Aldrich CoCOM  826552101  60392   820,771

Sysco Corp      COM  871829107 55185017,430,518

TE Connectivity COM  H84989104 53133814,314,063

Time Warner Inc COM  887317303 376837 7,878,666

VCA Antech Inc  COM  918194101  54231 2,576,282

W.R Berkley CorpCOM  084423102  88784 2,352,509

Wal Mart Stores COM  931142103 441007 6,463,532

West PharmaceutiCOM  955306105  53139   970,568

Willis Group HolCOM  G96666105 236282 7,046,870

World Fuel ServiCOM  981475106  75148 1,825,304

Zions BancorporaCOM  989701107  21367   998,465

iShares S^P 500 COM  464287200   6570    45,915

iShares S^P 600 COM  464287804    368     4,700