Total Returns as of
December 31, 2016
Standard & Poor's
* Average Annual Total Return
S&P 500 Index is an unmanaged, capitalization-weighted
index of the common stocks of 500 major US corporations.
The Dow Jones Industrial Average is an unmanaged,
price-weighted index of 30 actively traded blue
The performance data shown 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. Current performance
may be lower or higher than the performance data
As reflected in the current prospectus, the Fund's
Annual Fund Operating Expenses for 2014 were 1.03%.
Ruane, Cunniff & Goldfarb, the Fund's investment
adviser, has agreed to reimburse a portion of
the Fund's operating expenses. This reimbursement
is a provision of Ruane, Cunniff & Goldfarb's
investment advisory agreement with the Fund and
will be in effect only so long as that investment
advisory agreement is in effect.
Year to date performance as of the most recent
month end can be obtained by calling DST Systems,
Inc. at (800) 686-6884.
Any sector focuses of the Fund are subject to
change, and past returns are not indicative of
future returns. The cash generation of a company
in which the Fund invests may not continue given
market or other conditions, and portfolio turnover
may change depending on future circumstances.
Investing in the Fund involves
risk. Investors should carefully review the risks
associated with an investment in the Fund by clicking
here, and understand those risks before investing.
SEQUOIA FUND, INC.
| 9 West 57th Street, Suite 5000 | New York, NY | 10019
Please consider the
investment objectives, risks and charges and expenses of the Fund carefully
before investing. The Fund's prospectus contains this and other information
about the Fund. You may obtain a copy of the prospectus by clicking
here or by calling 1-800-686-6884. Please read the prospectus carefully
Shares of the Fund are offered through the Fund’s distributor, Ruane,
Cunniff & Goldfarb LLC. Ruane, Cunniff & Goldfarb LLC is an affiliate
of Ruane, Cunniff & Goldfarb Inc. and is a member of FINRA. 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.
The Fund may be offered only to persons in the United States and by way
of a prospectus. This website should not be considered a solicitation or
offering of any product or service to investors residing outside of the