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 May 31, 2021

NFLX Netflix, Inc. 8.6%
HD The Home Depot, Inc. 8.3%
MA Mastercard Incorporated Class A 7.6%
FRC First Republic Bank 6.7%
GOOGL Alphabet, Inc. Class A 6.7%
MASI Masimo Corporation 5.5%
NTDOY Nintendo Co., Ltd. 4.8%
SCHW The Charles Schwab Corporation 4.7%
RACE Ferrari NV (Italy) 4.7%
NVR NVR, Inc. 4.6%
BKNG Booking Holdings, Inc. 4.5%
CMG Chipotle Mexican Grill, Inc. 4.5%
FAF First American Financial Corporation 3.7%
ILMN Illumina, Inc. 3.6%
FAST Fastenal Company 3.6%
ISRG Intuitive Surgical, Inc. 3.1%
BR Broadridge Financial Solutions, Inc. 2.8%
SBUX Starbucks Corporation 2.8%
BL Blackline, Inc. 2.1%
LSTR Landstar Systems, Inc. 2.0%
PAYX Paychex, Inc. 1.9%
COST Costco Wholesale Corporation 1.6%
HEI/A HEICO Corporation 1.4%
Net Cash* 0.2%

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