0000919574-19-004171.txt : 20190614 0000919574-19-004171.hdr.sgml : 20190614 20190614171305 ACCESSION NUMBER: 0000919574-19-004171 CONFORMED SUBMISSION TYPE: 497 PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20190614 DATE AS OF CHANGE: 20190614 EFFECTIVENESS DATE: 20190614 FILER: COMPANY DATA: COMPANY CONFORMED NAME: SEQUOIA FUND INC CENTRAL INDEX KEY: 0000089043 IRS NUMBER: 132663968 STATE OF INCORPORATION: MD FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 497 SEC ACT: 1933 Act SEC FILE NUMBER: 002-35566 FILM NUMBER: 19899685 BUSINESS ADDRESS: STREET 1: 9 WEST 57TH STREET STREET 2: SUITE 5000 CITY: NEW YORK STATE: NY ZIP: 10019-2701 BUSINESS PHONE: 2128325280 MAIL ADDRESS: STREET 1: 9 WEST 57TH STREET STREET 2: SUITE 5000 CITY: NEW YORK STATE: NY ZIP: 10019-2701 FORMER COMPANY: FORMER CONFORMED NAME: CIMARRON FUND INC DATE OF NAME CHANGE: 19700625 0000089043 S000012155 SEQUOIA FUND INC C000033159 SEQUOIA FUND INC SEQUX 497 1 d8223738_497.htm

SEQUOIA FUND, INC.

Supplement dated June 14, 2019

to the Prospectus dated May 1, 2019

 

Effective June 14, 2019, Foreside Financial Services, LLC replaced Ruane, Cunniff & Goldfarb LLC as the Fund’s distributor. Accordingly, the following changes are made to the Prospectus, effective as of such date:

The first paragraph under the heading “Management of the Fund – Investment Adviser”, on page 5 of the Prospectus, is deleted in its entirety and replaced with the following disclosure:

The Fund’s investment adviser is Ruane, Cunniff & Goldfarb L.P. (the “Adviser”), 9 West 57th Street, Suite 5000, New York, New York 10019-2701. The Adviser is registered as an investment adviser with the Securities and Exchange Commission (“SEC”).

The third paragraph under the heading “Purchase and Sale of Shares – Transactions Through Financial Services Organizations”, on page 14 of the Prospectus, is deleted in its entirety and replaced with the following disclosure:

Certain financial intermediaries holding Fund shares for the benefit of their customers provide recordkeeping, shareholder servicing and other administrative services to those customers investing in the Fund. The Adviser has agreed to pay certain of these financial intermediaries an asset-based fee of up to 0.10% of the average daily net assets attributable to the intermediary for providing such recordkeeping, shareholder servicing and administrative services to their customers.

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YOU SHOULD RETAIN THIS SUPPLEMENT WITH YOUR PROSPECTUS

FOR FUTURE REFERENCE.