Ensemble Capital Management: 13F holdings, Q3 2024
Quality compounder · SEC EDGAR filings (CIK 0001387366) · Explore on the interactive board
Ensemble Capital Management disclosed 22 US equity positions worth $1.2bn in its Q3 2024 13F filing (holdings as of September 30, 2024, filed November 12, 2024). Its largest position is HD at 8.3% of the reported book, followed by MA, BKNG. The top ten holdings are 66.5% of the book, and the portfolio behaves like about 17 equal-weight positions. Versus the prior filing it opened 0 new positions, added to 0, reduced 21 and exited 2. Note: this manager's most recent filing is 7 quarters behind the newest quarter on file, so these figures are history rather than current positioning.
What does Ensemble Capital Management own? Top holdings as of September 30, 2024
Change is measured in shares against the previous filing (Q2 2024), so price moves do not read as decisions. This quarter: 0 new, 0 added, 21 reduced, 2 exited.
| # | Stock | Sector | Weight | Value | Shares | Δ shares | Action |
|---|---|---|---|---|---|---|---|
| 1 | HD HOME DEPOT INC | Consumer Cyclical | 8.3% | $98.2m | 242,283 | -18% | reduced |
| 2 | MA MASTERCARD INCORPORATED | Financial Services | 8.0% | $94.0m | 190,404 | -14% | reduced |
| 3 | BKNG BOOKING HOLDINGS INC | Consumer Cyclical | 7.9% | $93.5m | 22,190 | -18% | reduced |
| 4 | NFLX NETFLIX INC | Communication Services | 7.1% | $83.5m | 117,663 | -12% | reduced |
| 5 | BR BROADRIDGE FINL SOLUTIONS IN | Technology | 6.9% | $81.9m | 380,924 | -14% | reduced |
| 6 | NVR NVR INC | Consumer Cyclical | 6.9% | $81.4m | 8,300 | -24% | reduced |
| 7 | GOOGL ALPHABET INC | Communication Services | 5.8% | $68.7m | 414,511 | -17% | reduced |
| 8 | ADI ANALOG DEVICES INC | Technology | 5.8% | $68.1m | 295,907 | -8% | reduced |
| 9 | PAYX PAYCHEX INC | Technology | 5.0% | $58.8m | 438,211 | -18% | reduced |
| 10 | RACE FERRARI N V | Consumer Cyclical | 4.8% | $56.2m | 119,503 | -15% | reduced |
| 11 | FAF FIRST AMERN FINL CORP | Financial Services | 4.5% | $53.3m | 806,699 | -17% | reduced |
| 12 | NOW SERVICENOW INC | Technology | 4.3% | $51.2m | 57,289 | -36% | reduced |
| 13 | PERIMETER SOLUTIONS SA | 3.9% | $46.3m | 3,442,273 | -20% | reduced | |
| 14 | IEX IDEX CORP | Industrials | 3.9% | $46.2m | 215,157 | -16% | reduced |
| 15 | MASI* MASIMO CORP | 3.8% | $45.4m | 340,355 | -16% | reduced | |
| 16 | LSTR LANDSTAR SYS INC | Industrials | 3.7% | $43.5m | 230,546 | -10% | reduced |
| 17 | VEEV VEEVA SYS INC | Healthcare | 2.9% | $34.1m | 162,357 | -15% | reduced |
| 18 | ILMN ILLUMINA INC | Healthcare | 2.5% | $29.7m | 227,558 | -18% | reduced |
| 19 | NKE NIKE INC | Consumer Cyclical | 2.1% | $24.7m | 278,996 | -45% | reduced |
| 20 | FAST FASTENAL CO | Industrials | 1.6% | $18.5m | 258,447 | -21% | reduced |
| 21 | CMG CHIPOTLE MEXICAN GRILL INC | Consumer Cyclical | 0.2% | $1.8m | 31,950 | -1% | reduced |
| 22 | SBUX STARBUCKS CORP | Consumer Cyclical | 0.0% | $428.6k | 4,396 | 0% | held |
What did Ensemble Capital Management sell? Positions exited since the previous filing
Sector mix
| Sector | Weight |
|---|---|
| Consumer Cyclical | 30.2% |
| Technology | 22.1% |
| Communication Services | 12.9% |
| Financial Services | 12.5% |
| Industrials | 9.2% |
| Healthcare | 5.4% |
Sectors cover positions whose ticker resolved to a sector; the remainder is unclassified, not cash.
Filing history
| Quarter | Positions | Equity value |
|---|---|---|
| Q3 2024 | 22 | $1.2bn |
| Q2 2024 | 24 | $1.3bn |
| Q1 2024 | 22 | $1.2bn |
| Q4 2023 | 23 | $1.1bn |
| Q3 2023 | 25 | $968.0m |
| Q2 2023 | 25 | $1.0bn |
| Q1 2023 | 24 | $966.2m |
| Q4 2022 | 27 | $964.8m |
| Q3 2022 | 26 | $887.8m |
| Q2 2022 | 27 | $887.7m |
| Q1 2022 | 28 | $1.2bn |
| Q4 2021 | 30 | $1.3bn |
| Q3 2021 | 30 | $1.2bn |
| Q2 2021 | 31 | $1.2bn |
| Q1 2021 | 29 | $1.0bn |
| Q4 2020 | 34 | $1.0bn |
Earliest filing: Q4 2006 · 69 quarters on file
How concentrated is Ensemble Capital Management's portfolio?
Across every quarter Ensemble Capital Management has filed, its median largest position is 8.6% of the book and its median top-ten weight is 65.6%, which WhaleCreep classifies as concentrated (the gate is a median largest position of 5%). Of 195 completed holding spells, the median lasted 6.0 quarters; 22 positions are still open and their final length is unknown.