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 July 31, 2017

MA MasterCard, Inc. Class-A 7.2%
BR Broadridge Financial Solutions, Inc. 7.1%
PAYX Paychex, Inc. 6.9%
LB L Brands, Inc. 6.8%
LSTR Landstar Systems, Inc. 6.4%
ST Sensata Technologies Holding NV 4.9%
FAF First American Financial Corp. 4.8%
ORCL Oracle Corp. 4.7%
FRC First Republic Bank 4.5%
AAPL Apple, Inc. 4.5%
DNOW Now, Inc. 4.5%
SCHW Schwab Charles Corp. 4.4%
NKE Nike, Inc. 4.1%
TDG TransDigm Group, Inc. 3.9%
GOOGL Alphabet, Inc. Class-A 3.8%
ABCO Advisory Board Co. 3.8%
VRSK Verisk Analytics, Inc. 3.3%
RACE Ferrari NV 2.4%
PBH Prestige Brands Holdings, Inc. 1.7%
TIF Tiffany & Co. 1.7%
LUXTY Luxottica Group 1.7%
CERN Cerner Corp. 1.3%
Net Cash * 5.6%

*Represents cash equivalents and other assets less liabilities.