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 August 31, 2021
|HD||The Home Depot, Inc.||7.7%|
|GOOGL||Alphabet, Inc. Class A||7.5%|
|MA||Mastercard Incorporated Class A||6.7%|
|FRC||First Republic Bank||6.4%|
|BKNG||Booking Holdings, Inc.||5.1%|
|RACE||Ferrari NV (Italy)||4.4%|
|SCHW||The Charles Schwab Corporation||4.2%|
|NTDOY||Nintendo Co., Ltd. – ADR||4.2%|
|FAF||First American Financial Corporation||3.8%|
|CMG||Chipotle Mexican Grill, Inc.||3.6%|
|LSTR||Landstar Systems, Inc.||3.0%|
|ISRG||Intuitive Surgical, Inc.||2.3%|
|BR||Broadridge Financial Solutions, Inc.||2.2%|
|COST||Costco Wholesale Corporation||1.7%|
|Net Cash *||0.1%|
*Represents cash, cash equivalents (including U.S. Treasuries with maturities less than 1 year), and other assets less liabilities.
Investors should consider the investment objectives, risks, and charges and expenses of the Fund carefully before investing. The prospectus contains this and other information about the Fund. You may obtain a prospectus on this website or by calling the transfer agent at 1-800-785-8165. The prospectus should be read carefully before investing.
Important Risk Information
An investment in the Fund is subject to investment risks, including the possible loss of the principal amount invested. There can be no assurance that the Fund will be successful in meeting its objectives. The Fund invests in common stocks which subjects investors to market risk. The Fund invests in small and mid-cap companies, which involve additional risks such as limited liquidity and greater volatility. The Fund invests in undervalued securities. Undervalued securities are, by definition, out of favor with investors, and there is no way to predict when, if ever, the securities may return to favor. The Fund may invest in foreign securities which involve greater volatility and political, economic and currency risks and differences in accounting methods. Investments in debt securities typically decrease in value when interest rates rise. This risk is usually greater for longer-term debt securities. More information about these risks and other risks can be found in the Fund’s prospectus. The Fund is a non-diversified fund and therefore may be subject to greater volatility than a more diversified investment.
Distributed by Rafferty Capital Markets, LLC Garden City, NY 11530.