Ensemble Capital Management, LLC

San Francisco, CA · CIK 1387366 · 13F filing filed 2023-08-10

No investment adviser registration (Form ADV) found for this filer. It may be a parent company whose subsidiaries are the registered advisers, a bank or insurer, or a manager based outside the US.

$1.0bn reported value +7.2% vs Q1 2023

25positions

67.3%in top 10

2 new 9 added 9 reduced 1 sold out vs Q1 2023

Holdings, Q2 2023

The small lines show how much was held over the last 4 quarters (adjusted for stock splits).

#	Security	Ticker	Shares	Value	% of portfolio	Change	Shares change
1	MASTERCARD INCORPORATED CL A MA	MA	255,376	$100.4m9.70%	9.70%	Added +1.4k	+1,412 0.6%
2	ALPHABET INC CAP STK CL A GOOGL	GOOGL	757,035	$90.6m8.75%	8.75%	Reduced -87.2k	-87,222 -10.3%
3	HOME DEPOT INC COM HD	HD	274,922	$85.4m8.25%	8.25%	Added +18.0k	+18,013 7.0%
4	NETFLIX INC COM NFLX	NFLX	180,293	$79.4m7.67%	7.67%	Reduced -38.5k	-38,490 -17.6%
5	BOOKING HOLDINGS INC COM BKNG	BKNG	27,533	$74.3m7.18%	7.18%	Added +1.6k	+1,629 6.3%
6	BROADRIDGE FINL SOLUTIONS IN COM BR	BR	351,647	$58.2m5.62%	5.62%	Reduced -3.8k	-3,805 -1.1%
7	FERRARI N V COM RACE	RACE	174,368	$56.7m5.48%	5.48%	Reduced -36.1k	-36,121 -17.2%
8	SERVICENOW INC COM NOW	NOW	96,373	$54.2m5.23%	5.23%	Added +14.7k	+14,729 18.0%
9	NVR INC COM NVR	NVR	7,762	$49.3m4.76%	4.76%	Reduced -820	-820 -9.6%
10	MASIMO CORP COM MASI	MASI	291,111	$47.9m4.63%	4.63%	Reduced -53.8k	-53,807 -15.6%
11	ILLUMINA INC COM ILMN	ILMN	248,129	$46.5m4.49%	4.49%	Added +2.7k	+2,715 1.1%
12	CHIPOTLE MEXICAN GRILL INC COM CMG	CMG	21,122	$45.2m4.36%	4.36%	Reduced -11.4k	-11,373 -35.0%
13	FIRST AMERN FINL CORP COM FAF	FAF	759,988	$43.3m4.19%	4.19%	Added +92.0k	+92,021 13.8%
14	PAYCHEX INC COM PAYX	PAYX	382,936	$42.8m4.14%	4.14%	Added +6.9k	+6,914 1.8%
15	NIKE INC CL B NKE	NKE	383,758	$42.4m4.09%	4.09%	Added +109.8k	+109,835 40.1%
16	FASTENAL CO COM FAST	FAST	672,430	$39.7m3.83%	3.83%	Reduced -14.4k	-14,391 -2.1%
17	LANDSTAR SYS INC COM LSTR	LSTR	166,178	$32.0m3.09%	3.09%	Reduced -14.0k	-14,032 -7.8%
18	ANALOG DEVICES INC COM ADI	ADI	117,794	$22.9m2.22%	2.22%	New
19	IDEX CORP COM IEX	IEX	64,123	$13.8m1.33%	1.33%	New
20	PERIMETER SOLUTIONS SA COMMON STOCK 99001EUR	99001EUR	1,175,557	$7.2m0.70%	0.70%	Added +101.9k	+101,915 9.5%
21	WATSCO INC COM WSO	WSO	2,235	$852.6k0.08%	0.08%	Unchanged
22	STARBUCKS CORP COM SBUX	SBUX	7,226	$715.8k0.07%	0.07%	Unchanged
23	TEXAS INSTRS INC COM TXN	TXN	3,240	$583.3k0.06%	0.06%	Unchanged
24	BLACKROCK INC COM BLK	BLK	821	$567.4k0.05%	0.05%	Unchanged
25	COSTCO WHSL CORP NEW COM COST	COST	590	$317.6k0.03%	0.03%	Unchanged

Sold out since Q1 2023

Security	Ticker	Shares held before	Value then
INTEL CORP INTC	INTC	9,530	$311.3k9.5k shares