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 November 30, 2017

LB L Brands, Inc. 8.6%
PAYX Paychex, Inc. 7.8%
MA Mastercard Inc. Class-A 7.5%
BR Broadridge Financial Solutions, Inc. 7.5%
FRC First Republic Bank 6.2%
PBH Prestige Brands Holdings, Inc. 5.1%
SCHW Schwab Charles Corp. 5.0%
LSTR Landstar Systems, Inc. 4.9%
ST Sensata Technologies Holding NV 4.7%
ORCL Oracle Corp. 4.5%
RACE Ferrari NV 4.5%
FAF First American Financial Corp. 4.5%
DNOW Now, Inc. 4.3%
NKE Nike, Inc. 4.2%
TDG TransDigm Group, Inc. 4.1%
AAPL Apple, Inc. 3.4%
VRSK Verisk Analytics, Inc. 3.2%
NFLX Netflix, Inc. 3.0%
GOOGL Alphabet, Inc. Class-A 2.9%
TIF Tiffany & Co. 1.5%
LUXTY Luxottica Group 1.5%
Net Cash * 1.1%

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