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 February 28, 2018

MA Mastercard Inc. Class-A 7.8%
BR Broadridge Financial Solutions, Inc. 7.4%
PAYX Paychex, Inc. 6.9%
FRC First Republic Bank 6.5%
LB L Brands, Inc. 6.1%
SCHW Charles Schwab Corp. 4.8%
NFLX Netflix, Inc. 4.8%
FAF First American Financial Corp. 4.7%
ORCL Oracle Corp. 4.6%
RACE Ferrari NV 4.5%
LSTR Landstar Systems, Inc. 4.5%
ST Sensata Technologies Holding NV 4.4%
AAPL Apple, Inc. 4.3%
PBH Prestige Brands Holdings, Inc. 4.3%
NKE Nike, Inc. 4.2%
TDG TransDigm Group, Inc. 3.7%
BKNG Booking Holdings, Inc. 3.4%
VRSK Verisk Analytics, Inc. 3.0%
AVGO Broadcom, Ltd. 2.8%
TIF Tiffany & Co. 1.4%
LUXTY Luxottica Group 1.3%
GOOGL Alphabet, Inc. Class-A 1.3%
Net Cash * 3.3%

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