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 April 30, 2018

LSTR Landstar Systems, Inc. 7.3%
PAYX Paychex, Inc. 7.2%
MA Mastercard Inc. Class-A 6.8%
BR Broadridge Financial Solutions, Inc. 6.7%
FRC First Republic Bank 6.6%
SCHW Charles Schwab Corp. 5.1%
NFLX Netflix, Inc. 5.0%
ORCL Oracle Corp. 4.7%
FAF First American Financial Corp. 4.7%
RACE Ferrari NV 4.5%
PBH Prestige Brands Holdings, Inc. 4.4%
TDG TransDigm Group, Inc. 4.3%
LB L Brands, Inc. 4.3%
ST Sensata Technologies Holdings PLC 4.3%
NKE Nike, Inc. 4.3%
AAPL Apple, Inc. 4.0%
BKNG Booking Holdings, Inc. 3.7%
GOOGL Alphabet, Inc. Class-A 3.3%
AVGO Broadcom, Ltd. 3.2%
VRSK Verisk Analytics, Inc. 3.1%
TIF Tiffany & Co. 1.1%
TRUP Trupanion, Inc. 1.0%
Net Cash * 0.4%

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