9AT: RUANE CUNNIFF L.P.

RUANE CUNNIFF L.P.

other names

Revenue	{{ Info.Revenue \| formatUSD }}
Headquarters	{{ Info.Headquarters }}

Adviser Profile

As of Date	03/31/2025
Adviser Type - Large advisory firm - An investment adviser (or subadviser) to an investment company
Number of Employees	54 -12.90%
of those in investment advisory functions	14 -6.67%
Registration	SEC, Approved, 10/18/2017

AUM^*	9,356,108,349 6.03%
of that, discretionary	9,356,108,349 6.03%
Private Fund GAV^*	0
Avg Account Size	7,361,218 10.78%
% High Net Worth	93.47% 1.83%
SMA’s	Yes
Private Funds	0
Contact Info	212 xxxxxxx
Websites

Client Types

- High net worth individuals
- Investment companies
- Pension and profit sharing plans
- Charitable organizations
- Corporations or other businesses not listed above

Advisory Activities

- Portfolio management for individuals and/or small businesses
- Portfolio management for investment companies
- Portfolio management for businesses

Compensation Arrangments

- A percentage of assets under your management

Reported AUM

20B 17B 14B 11B 9B 6B 3B

2017 2018 2019 2020 2021 2022 2023

Discretionary

Non-discretionary

Private Funds

GAV Count

Employees

Top Holdings

Stock Ticker	Stock Name	$ Position	% Position	$ Change	# Change
Stck Ticker808513105	Stock NameSCHWAB CHARLES CORP	$ Position$529,280,435	% Position10.00%	$ Change4.00%	# Change-2.00%
Stck Ticker531229755	Stock NameLIBERTY MEDIA CORP DEL	$ Position$518,034,913	% Position9.00%	$ Change-5.00%	# Change-2.00%
Stck Ticker45866F104	Stock NameINTERCONTINENTAL EXCHANGE IN	$ Position$481,981,560	% Position9.00%	$ Change-33.00%	# Change-42.00%
Stck Ticker036752103	Stock NameELEVANCE HEALTH INC	$ Position$488,425,283	% Position9.00%	$ Change16.00%	# Change-2.00%
Stck Ticker91324P102	Stock NameUNITEDHEALTH GROUP INC	$ Position$430,610,490	% Position8.00%	$ Change2.00%	# Change-2.00%
Stck Ticker02079K305	Stock NameALPHABET INC	$ Position$366,936,596	% Position7.00%	$ Change-19.00%	# Change-1.00%
Stck Ticker14040H105	Stock NameCAPITAL ONE FINL CORP	$ Position$381,983,230	% Position7.00%	$ Change-2.00%	# Change-2.00%
Stck Ticker225310101	Stock NameCREDIT ACCEP CORP MICH	$ Position$332,065,201	% Position6.00%	$ Change8.00%	# Change-2.00%
Stck Ticker874039100	Stock NameTAIWAN SEMICONDUCTOR MFG LTD	$ Position$309,804,638	% Position6.00%	$ Change-19.00%	# Change-3.00%
Stck Ticker30303M102	Stock NameMETA PLATFORMS INC	$ Position$294,503,822	% Position5.00%	$ Change-4.00%	# Change-2.00%

Brochure Summary

Overview

Ruane Cunniff L.P. is an SEC-registered investment adviser with its principal place of business in New York, New York. The Adviser is a Delaware limited partnership that was established on November 2, 2016. The Adviser is a wholly-owned subsidiary of Ruane, Cunniff & Goldfarb Inc. (the “Parent”), and the Adviser’s business and affairs are managed by RCG-GP LLC, its general partner. RCG-GP LLC has established a Management Committee that has the authority to make certain decisions with respect to the Adviser’s business and operations. The Adviser commenced operations as an investment adviser on February 12, 2018. The Adviser provides investment advisory services on a discretionary basis to its clients, which include individuals and institutions with separately managed accounts and a registered investment company. Certain supervised persons of the Adviser provide advisory services to private funds intended for sophisticated investors and institutional investors. The Adviser also provides non-discretionary investment sub-advisory services to Hyperion Capital Advisors LP, an SEC-registered investment adviser that is affiliated with the Adviser (“Hyperion Capital”). The Adviser typically manages accounts in accordance with its overall investment objective and strategy, which seeks long-term growth of capital. The Adviser seeks to meet this overall objective and strategy by investing in equity and debt securities of issuers identified by the Adviser through its

fundamental, bottom-up analysis of issuers. Managed account clients may impose restrictions on investing in certain securities or certain types of securities and on the manner in which the investments are effected. The Adviser has established an Investment Committee with the authority to make investment decisions for certain client accounts (“covered accounts”). The Committee consists of four voting members and one non-voting member. With respect to covered accounts, the purchase of a new investment for the account or material modification of the weightings of existing investments for the account requires the approval of three members of the Committee. The portfolio manager of any covered account has, however, the authority (in between meetings of the Committee and in the event of material events or circumstances) to take actions with respect to the account with the approval of one other member of the Committee. The portfolio manager also has discretion, without prior or subsequent Committee approval, to take any action necessary to prevent any security, subject to certain exceptions, from accounting for more than 20% of the balance of any covered account. The Investment Committee also has the authority to make investment decisions for Sequoia (defined below) as described in its prospectus. The Adviser manages client assets that as of December 31, 2023 had an aggregate value of approximately $9,650,361,013, all of which are managed on a discretionary basis.