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 March 31, 2017

TDG TransDigm Group, Inc. 7.2%
BR Broadridge Financial Solutions, Inc. 7.2%
MA MasterCard, Inc. Class-A 7.2%
PAYX Paychex, Inc. 6.8%
LB L Brands, Inc. 6.7%
LSTR Landstar Systems, Inc. 6.0%
FRC First Republic Bank 5.7%
DNOW Now, Inc. 4.9%
DISCA Discovery Communications, Inc. Class-A 4.8%
AAPL Apple, Inc. 4.6%
SCHW Schwab Charles Corp. 4.5%
ST Sensata Technologies Holding NV 4.5%
ABCO Advisory Board Co. 4.4%
FAF First American Financial Corp. 4.2%
GOOGL Alphabet, Inc. Class-A 4.1%
PEP PepsiCo, Inc. 3.6%
ORCL Oracle Corp. 3.0%
NOV National Oilwell Varco, Inc. 2.6%
TIF Tiffany & Co. 2.1%
LUX Luxottica Group 1.9%
NKE Nike, Inc. 1.9%
CERN Cerner Corp. 1.5%
Net Cash * 0.6%

*Represents cash equivalents and other assets less liabilities.