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 January 31, 2023

MA Mastercard Incorporated – Class A 8.55%
FRC First Republic Bank 8.25%
GOOGL Alphabet Inc. – Class A 7.80%
NFLX Netflix, Inc. 6.85%
HD The Home Depot, Inc. 6.57%
CMG Chipotle Mexican Grill, Inc. 5.78%
BKNG Booking Holdings Inc. 5.40%
RACE Ferrari N.V. 4.90%
MASI Masimo Corporation 4.85%
NVR NVR, Inc. 4.59%
BR Broadridge Financial Solutions, Inc. 4.43%
ILMN Illumina, Inc. 4.35%
NOW ServiceNow, Inc. 4.27%
NTDOY Nintendo Co., Ltd. 3.79%
NKE Nike, Inc. Class B 3.36%
FAF First American Financial Corporation 3.31%
PAYX Paychex, Inc. 3.27%
LSTR Landstar System, Inc. 3.04%
FAST Fastenal Company 2.96%
SCHW The Charles Schwab Corporation 2.73%
PRM Perimeter Solutions 0.86%
Net Cash* 0.09%

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