Ensemble Fund’s Q4 2019 Investor Letter

On January 22, 2020, Ensemble Capital released its Q4 2019 Investor Letter, a copy of which you can download here. For the quarter ended December 31st, 2019, Ensemble Fund recorded a return of 9.87%, compared to 9.07% of the S&P 500 Index. This brings its 2019 full-year return to 39.55%, compared to 31.49% of the S&P 500 Index.