Ensemble Fund’s Q1 2020 Investor Letter

Ensemble Capital, an independently-owned investment firm, recently published its first-quarter Ensemble Fund commentary – a copy of which can be downloaded below. During the first quarter of 2020, the Ensemble Fund returned -18.6%, while the benchmark S&P 500 was down 19.6%.

You can download a copy of Ensemble Fund’s latest investor letter below:

Ensemble Fund’s Q1 2020 Investor Letter