| Name of Stock | End of Year Book Value | End of Year Fair Market Value |
|---|---|---|
| 17 SHARES BERKHSIRE HATHAWAY | 1,558,256 | 3,024,300 |
| 1,337.997 shares, SEQUOIA FUND | 0 | 0 |
| Category/ Item | Listed at Cost or FMV | Book Value | End of Year Fair Market Value |
|---|---|---|---|
| GOODNOW, GRAY & CO. | AT COST | 763,878 | 955,452 |
| OLD KING'S CAPITAL LP | AT COST | 4,552,547 | 5,887,782 |
| RUANE CUNNIFF & GOLDFARB: Managed Account | AT COST | 2,392,554 | 2,826,615 |
| TIGER GLOBAL LP | AT COST | 976,445 | 1,438,837 |
| BAY POND PARTNERS | AT COST | 1,380,000 | 2,837,301 |
| CAMCAP ENERGY RESOURCES OFFSHORE LTD | AT COST | 515,000 | 505,954 |
| CAMCAP RESOURCES OFFSHORE FUND LP | AT COST | 510,000 | 449,043 |
| CLOUGH OFFSHORE FUND LTD | AT COST | 0 | 0 |
| CONATUS CAPITAL OVERSEAS LTD | AT COST | 0 | 0 |
| DISCOVERY GLOBAL OPPORTUNITY FUND LTD | AT COST | 1,625,000 | 3,118,938 |
| KINGDON OFFSHORE LTD | AT COST | 0 | 0 |
| AKO FUND LTD | AT COST | 900,000 | 1,094,933 |
| EAST SIDE CAPITAL | AT COST | 1,680,000 | 2,247,292 |
| AKO EUROPEAN LONG ONLY FUND | AT COST | 980,000 | 1,121,777 |
| TIGER RATAN CAPITAL FUND LP | AT COST | 1,000,000 | 1,000,000 |
| Description | Revenue and Expenses per Books | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| Ruane Cunniff & Goldfarb: Management Fee | 13,092 | 13,092 | 0 | |
| Postage | 20 | 0 | 0 |
| Description | Revenue And Expenses Per Books | Net Investment Income | Adjusted Net Income |
|---|---|---|---|
| FROM PARTNERSHIP - GOODNOW, GRAY & CO. | -14,254 | -14,254 | -14,254 |
| FROM PARTNERSHIP - OLD KING'S CAPITAL LP | -75,957 | -75,957 | -75,957 |
| FROM PARTNERSHIP - TIGER GLOBAL LP | -90,835 | -90,835 | -90,835 |
| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| Federal Excise Tax | 9,000 | 0 | 0 | |
| Foreign Tax Withheld THROUGH Partnership | 606 | 606 | 0 |