Ruane, Cunniff & Goldfarb L.p.

Ruane, Cunniff & Goldfarb L.P. is an SEC-registered investment adviser established on November 2, 2016, with its principal place of business in New York, New York. The firm provides investment advisory services on a discretionary basis to individuals, institutions, and registered investment companies. Their investment strategy focuses on long-term capital growth through fundamental, bottom-up analysis of equity and debt securities. Clients have the option to impose restrictions on investments. The firm manages client assets totaling approximately $8.8 billion as of December 31, 2022. The minimum initial investment for managed accounts is not specified. The advisory fee for managed accounts is typically 1.0% annually, payable quarterly based on assets under management. Ruane, Cunniff & Goldfarb L.P. also provides advisory services to private funds and offers non-discretionary sub-advisory services to affiliated entities. The firm discloses potential conflicts of interest related to soft dollar arrangements, cross transactions, and client-directed brokerage. Clients receive regular account statements and performance reports. The firm has policies in place to address conflicts of interest and maintains a Code of Ethics to ensure high ethical standards. Ruane, Cunniff & Goldfarb L.P. acts as a fiduciary, voting proxies for client securities and making investment decisions in the best interests of clients.