Footnotes
1The performance data for the Fund shown above represents past performance and assumes reinvestment of dividends. Past performance does not guarantee future results. The investment return and principal value of an investment in the Fund will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. The Fund’s 1-year, 5-year and 10-year average annual total returns through June 30, 2024 were 27.72%, 10.60% and 7.97%, respectively. Current performance may be lower or higher than the performance data quoted. Performance data current to the most recent month-end can be obtained by calling SS&C GIDS, Inc. at (800) 686-6884. Ruane Cunniff LP | 45 Rockefeller Plaza | 34th Floor | New York, NY 10111 | Tel: (212) 832-5280 Home – Sequoia Fund
Disclosures
Please consider the investment objectives, risks and charges and expenses of Sequoia Fund Inc. (the “Fund”) carefully before investing. The Fund’s prospectus and summary prospectus contain this and other information about the Fund and are available at Home – Sequoia Fund or by calling 1-800-6866884. Please read the prospectus and summary prospectus carefully before investing. Shares of the Fund are distributed by Foreside Financial Services, LLC (Member FINRA).
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Sequoia Fund, Inc. – June 30, 2024 |
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Top Ten Holdings* |
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Rolls-Royce Holdings PLC (OTCPK:RYCEY, RYCEF, OTC:RLLCF) |
8.3% |
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7.3% |
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Intercontinental Exchange, Inc. (ICE) |
7.0% |
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Constellation Software, Inc. (CSU:CA, OTCPK:CNSWF) |
6.9% |
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Charles Schwab Corp. (SCHW) |
6.4% |
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5.8% |
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5.6% |
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5.5% |
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Universal Music Group NV (OTCPK:UMGNF, OTCPK:UNVGY) |
5.3% |
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Elevance Health, Inc. (ELV) |
5.2% |
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* The Fund’s holdings are subject to change and are not recommendations to buy or sell any security. The percentages are of total assets.
An investment in the Fund is not a deposit of a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. Shares of the Fund may be offered only to persons in the United States and by way of a prospectus.
Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment):
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Management Fees |
1.00% |
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Other Expenses |
0.11% |
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Total Annual Fund Operating Expenses** |
1.11% |
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Expense Reimbursement by the Adviser** |
(0.11%) |
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Net Annual Fund Operating Expenses** |
1.00% |
** It is the intention of Ruane Cunniff LP (the “Adviser”) to ensure the Fund does not pay in excess of 1.00% in Net Annual Fund Operating Expenses. This reimbursement is a provision of the Adviser’s investment advisory contract with the Fund and the reimbursement will be in effect only so long as that investment advisory contract is in effect. The expense ratio presented is from the Fund’s prospectus dated May 1, 2024. For the year ended December 31, 2023, the Fund’s annual operating expenses and investment advisory fee, net of such reimbursement, were 1.00% and 0.89%, respectively.
The Fund is non-diversified, meaning that it invests its assets in a smaller number of companies than many other funds. As a result, an investment in the Fund has the risk that changes in the value of a single security may have a significant effect, either negative or positive, on the Fund’s net asset value per share.
The S&P 500 Index is an unmanaged capitalization-weighted index of the common stocks of 500 major US corporations. The Index does not incur expenses. It is not possible to invest directly in the Index.
Ruane Cunniff LP | 45 Rockefeller Plaza | 34th Floor | New York, NY 10111 | Tel: (212) 832-5280 Home – Sequoia Fund
