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 June 30, 2018

PAYX Paychex, Inc. 7.4%
MA Mastercard Inc. Class-A 6.8%
BKNG Booking Holdings, Inc. 6.7%
RACE Ferrari NV 6.6%
LSTR Landstar Systems, Inc. 6.2%
FAF First American Financial Corp. 5.9%
ORCL Oracle Corp. 5.7%
BR Broadridge Financial Solutions, Inc. 5.5%
ST Sensata Technologies Holdings PLC 5.4%
FRC First Republic Bank 4.6%
NKE Nike, Inc. 4.5%
NFLX Netflix, Inc. 4.5%
SCHW Charles Schwab Corp. 4.3%
AAPL Apple, Inc. 4.1%
GOOGL Alphabet, Inc. Class-A 3.9%
AVGO Broadcom, Ltd. 3.7%
VRSK Verisk Analytics, Inc. 3.5%
CERN Cerner Corp. 2.9%
TDG TransDigm Group, Inc. 2.6%
SBUX Starbucks Corp. 2.5%
TRUP Trupanion, Inc. 1.3%
Net Cash* 1.4%

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