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 February 28, 2019

RACE Ferrari NV 8.2%
MA Mastercard Inc. Class-A 7.1%
BR Broadridge Financial Solutions, Inc. 7.0%
BKNG Booking Holdings, Inc. 6.7%
NFLX Netflix, Inc. 6.5%
ST Sensata Technologies Holdings PLC 6.2%
FAF First American Financial Corp. 5.9%
FRC First Republic Bank 4.9%
PAYX Paychex, Inc. 4.8%
TDG TransDigm Group, Inc. 4.8%
LSTR Landstar Systems, Inc. 4.8%
ORCL Oracle Corp. 4.7%
SBUX Starbucks Corp. 4.5%
SCHW Charles Schwab Corp. 4.5%
GOOGL Alphabet, Inc. Class-A 4.4%
TIF Tiffany & Co. 3.6%
VRSK Verisk Analytics, Inc. 3.1%
NKE Nike, Inc. 2.9%
TRUP Trupanion, Inc. 2.1%
MASI Masimo Corp. 1.4%
FAST Fastenal Co. 0.9%
WAT Waters Corp. 0.6%
Net Cash* 0.4%

*Represents cash, cash equivalents (including U.S. Treasuries with maturities less than 1 year), and other assets less liabilities.