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 August 31, 2018

PAYX Paychex, Inc. 7.3%
BKNG Booking Holdings, Inc. 7.0%
MA Mastercard Inc. Class-A 6.9%
LSTR Landstar Systems, Inc. 6.7%
ORCL Oracle Corp. 6.2%
ST Sensata Technologies Holdings PLC 6.1%
RACE Ferrari NV 5.9%
BR Broadridge Financial Solutions, Inc. 5.3%
NFLX Netflix, Inc. 5.0%
FRC First Republic Bank 4.6%
SCHW Charles Schwab Corp. 4.6%
AAPL Apple, Inc. 4.6%
FAF First American Financial Corp. 4.5%
NKE Nike, Inc. 4.3%
GOOGL Alphabet, Inc. Class-A 3.9%
VRSK Verisk Analytics, Inc. 3.6%
SBUX Starbucks Corp. 3.0%
CERN Cerner Corp. 2.9%
TDG TransDigm Group, Inc. 2.4%
TRUP Trupanion, Inc. 1.9%
FAST Fastenal Co. 0.9%
Net Cash * 2.4%

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