REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM



To the Board of Directors
and Shareholders of Sequoia Fund, Inc.

In planning and performing our audit of the financial statements of Sequoia
Fund, Inc., as of and for the year ended December 31, 2009, in accordance with
the standards of the Public Company Accounting Oversight Board (United States),
we considered its internal control over financial reporting, including control
activities for safeguarding securities, as a basis for designing our auditing
procedures for the purpose of expressing our opinion on the financial statements
and to comply with the requirements of Form N-SAR, but not for the purpose of
expressing an opinion on the effectiveness of the Fund's internal control over
financial reporting.  Accordingly, we express no such opinion.

The management of Sequoia Fund, Inc. is responsible for establishing and
maintaining effective internal control over financial reporting.  In fulfilling
this responsibility, estimates and judgments by management are required to
assess the expected benefits and related costs of controls.  A fund's internal
control over financial reporting is a process designed to provide reasonable
assurance regarding the reliability of financial reporting and the preparation
of financial statements for external purposes in accordance with accounting
principles generally accepted in the United States of America ("GAAP").  The
Fund's internal control over financial reporting includes those policies and
procedures that (1) pertain to the maintenance of records that, in reasonable
detail, accurately and fairly reflect the transactions and dispositions of the
assets of the Fund; (2) provide reasonable assurance that transactions are
recorded as necessary to permit preparation of the financial statements in
accordance with GAAP, and that receipts and expenditures of the Fund are being
made only in accordance with authorizations of management and directors of the
Fund; and (3) provide reasonable assurance regarding prevention or timely
detection of unauthorized acquisition, use or disposition of the Fund's assets
that could have a material effect on the financial statements.

Because of inherent limitations, internal control over financial reporting may
not prevent or detect misstatements.  Also, projections of any evaluation of
effectiveness to future periods are subject to the risk that controls may become
inadequate because of changes in conditions or that the degree of compliance
with the policies or procedures may deteriorate.

A deficiency in internal control over financial reporting exists when the design
or operation of a control does not allow management or employees, in the normal
course of performing their assigned functions, to prevent or detect
misstatements on a timely basis.  A material weakness is a deficiency, or
combination of deficiencies, in internal control over financial reporting, such
that there is a reasonable possibility that a material misstatement of the
Fund's annual or interim financial statements will not be prevented or detected
on a timely basis.

Our consideration of the Fund's internal control over financial reporting was
for the limited purpose described in the first paragraph and would not
necessarily disclose all deficiencies in internal control that might be
material weaknesses under standards established by the Public Company
Accounting Oversight Board (United States).  However, we noted no deficiencies
in the internal control over financial reporting and its operations, including
controls for safeguarding securities that we consider to be material weaknesses,
as defined above, as of December 31, 2009.

This report is intended solely for the information and use of the shareholders,
management and the Board of Directors of Sequoia Fund, Inc., and the Securities
and Exchange Commission and is not intended to be and should not be used by
anyone other than these specified parties.


			BBD, LLP



Philadelphia, Pennsylvania
February 17, 2010