The Fund

The Fund | Holdings

The Ensemble Fund is committed to providing our investors with high levels of transparency into our investment process and holdings. This commitment is based on our belief that investors who understand what they own are better able to make smart decisions regarding buying, holding and selling.

While we are only obligated to report our holdings within approximately 60 days after each fiscal quarter end, we routinely update our holdings on a monthly basis. We reserve the right to delay updating our holdings if we believe that doing so is not in the best interest of our investors.

Holdings as of May 31, 2017

BR Broadridge Financial Solutions, Inc. 8.1%
PAYX Paychex, Inc. 7.5%
MA MasterCard, Inc. Class-A 7.3%
LB L Brands, Inc. 6.9%
LSTR Landstar Systems, Inc. 6.1%
ABCO Advisory Board Co. 5.1%
FRC First Republic Bank 4.7%
AAPL Apple, Inc. 4.6%
SCHW Schwab Charles Corp. 4.5%
GOOGL Alphabet, Inc. Class-A 4.5%
DNOW Now, Inc. 4.5%
ST Sensata Technologies Holding NV 4.4%
FAF First American Financial Corp. 4.4%
ORCL Oracle Corp. 4.2%
TDG TransDigm Group, Inc. 4.2%
PEP PepsiCo, Inc. 3.5%
NKE Nike, Inc. 3.0%
LUX Luxottica Group 1.9%
PBH Prestige Brands Holdings, Inc. 1.8%
TIF Tiffany & Co. 1.8%
RACE Ferrari NV 1.6%
CERN Cerner Corp. 1.5%
Net Cash * 3.9%

*Represents cash equivalents and other assets less liabilities.