9AT: RUANE CUNNIFF L.P.

Adviser Profile

As of Date	03/31/2026
Registration	SEC, Approved, 10/18/2017
ADV Location	NEW YORK, NY, United States
Contact Info	212 xxxxxxx
Websites

AUM^*	10,525,505,890 9%
of that, discretionary	10,525,505,890 9%
Number of Employees	52 -9%
of those in investment advisory functions	12 -20%
Private Fund GAV^*	0
Avg Account Size	8,677,251 12%
% High Net Worth	93.82% 1%
SMA’s	Yes
Private Funds	0

Adviser Type

- Large advisory firm
- An investment adviser (or subadviser) to an investment company

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

Accounting Firm Name	Filing Date	Form ADV-E
Accounting Firm Name KPMG LLP	Filing Date12/23/2025	Form ADV-E View Report
Accounting Firm Name KPMG LLP	Filing Date01/28/2025	Form ADV-E View Report
Accounting Firm Name KPMG LLP	Filing Date10/27/2023	Form ADV-E View Report

Adviser	Hedge Fund	Liquidity Fund	Private Equity Fund	Real Estate Fund	Securitized Asset Fund	Venture Capital Fund	Other Fund	Total Private Fund GAV	AUM	#Funds
Adviser MAIRS & POWER	Hedge Fund-	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund59.3m	Other Fund-	Total Private Fund GAV118.6m	AUM12.1b	#Funds2
Adviser RAREVIEW CAPITAL LLC	Hedge Fund-	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV-	AUM537.5m	#Funds-
Adviser DELTA CAPITAL MANAGEMENT LLC	Hedge Fund-	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV-	AUM240.2m	#Funds-
Adviser SHAPIRO CAPITAL MANAGEMENT LLC	Hedge Fund-	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV-	AUM2.0b	#Funds-
Adviser MILLBANK DARTMOOR PORTSMOUTH LLC	Hedge Fund-	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV-	AUM263.2m	#Funds-
Adviser ALPINE CAPITAL STRATEGIES LLC	Hedge Fund-	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV-	AUM245.1m	#Funds-
Adviser GAMCO ASSET MANAGEMENT INC.	Hedge Fund331.0m	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV331.0m	AUM11.7b	#Funds1
Adviser TILT INVESTMENT MANAGEMENT	Hedge Fund-	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV-	AUM154.4m	#Funds-
Adviser VELA INVESTMENT MANAGEMENT, LLC	Hedge Fund-	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV-	AUM562.9m	#Funds-
Adviser BAHL & GAYNOR LLC	Hedge Fund-	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV-	AUM21.0b	#Funds-

Stock Ticker	Stock Name	$ Position	% Position	$ Change	# Change
Stck Ticker02079K305	Stock NameALPHABET INC	$ Position$608,949,709	% Position10.00%	$ Change-11.00%	# Change-3.00%
Stck Ticker531229755	Stock NameLIBERTY MEDIA CORP DEL	$ Position$455,466,423	% Position8.00%	$ Change-16.00%	# Change-2.00%
Stck Ticker45866F104	Stock NameINTERCONTINENTAL EXCHANGE IN	$ Position$415,120,428	% Position7.00%	$ Change-5.00%	# Change-2.00%
Stck Ticker036752103	Stock NameELEVANCE HEALTH INC FORMERLY	$ Position$406,327,632	% Position7.00%	$ Change-19.00%	# Change-2.00%
Stck Ticker808513105	Stock NameSCHWAB CHARLES CORP	$ Position$443,095,024	% Position7.00%	$ Change-21.00%	# Change-16.00%
Stck Ticker874039100	Stock NameTAIWAN SEMICONDUCTOR MANUFAC	$ Position$408,385,201	% Position7.00%	$ Change-5.00%	# Change-15.00%
Stck Ticker866966104	Stock NameSUNBELT RENTALS HOLDINGS INC	$ Position$357,230,908	% Position6.00%	$ Change	# Change
Stck Ticker14040H105	Stock NameCAPITAL ONE FINL CORP	$ Position$368,108,531	% Position6.00%	$ Change-27.00%	# Change-2.00%
Stck Ticker02079K107	Stock NameALPHABET INC	$ Position$272,630,041	% Position5.00%	$ Change-24.00%	# Change-17.00%
Stck Ticker553498106	Stock NameMSA SAFETY INC	$ Position$291,221,434	% Position5.00%	$ Change0.00%	# 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.

RUANE CUNNIFF L.P.

RUANE CUNNIFF L.P.

RUANE, CUNNIFF & GOLDFARB L.P.

Adviser Profile

Details

Adviser Type

Client Types

Advisory Activities

Compensation Arrangments

Reported AUM

Private Funds

Employees

Form ADV-E Surprise Examination Reports

Similar advisers

Top Holdings

Brochure Summary

Overview

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RUANE CUNNIFF L.P. RUANE CUNNIFF L.P. RUANE, CUNNIFF & GOLDFARB L.P.

Adviser Profile

Details

Adviser Type

Client Types

Advisory Activities

Compensation Arrangments

Reported AUM

Private Funds

Employees

Form ADV-E Surprise Examination Reports

Similar advisers

Top Holdings

Brochure Summary

Overview

RUANE CUNNIFF L.P.

RUANE CUNNIFF L.P.

RUANE, CUNNIFF & GOLDFARB L.P.