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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>INTERCONTINENTAL EXCHANGE INC</name>
        <lei>5493000F4ZO33MV32P92</lei>
        <title>INTERCONTINENTAL EXCHANGE INC COM</title>
        <cusip>45866F104</cusip>
        <identifiers>
          <isin value="US45866F1049"/>
          <ticker value="ICE"/>
        </identifiers>
        <balance>1015750.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>125048982.50000000</valUSD>
        <pctVal>3.461396337635</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ROLLS-ROYCE HOLDINGS PLC</name>
        <lei>213800EC7997ZBLZJH69</lei>
        <title>ROLLS-ROYCE HOLDINGS PLC ORD GBP0.20</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="GB00B63H8491"/>
          <ticker value="RR/"/>
          <other otherDesc="SEDOL" value="B63H849"/>
        </identifiers>
        <balance>23376735.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.75389197"/>
        <valUSD>447942581.25000000</valUSD>
        <pctVal>12.39919573283</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ALIGN TECHNOLOGY INC</name>
        <lei>549300N5YSE0U3LCP840</lei>
        <title>ALIGN TECHNOLOGY INC COM</title>
        <cusip>016255101</cusip>
        <identifiers>
          <isin value="US0162551016"/>
          <ticker value="ALGN"/>
        </identifiers>
        <balance>454963.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>76734059.58000000</valUSD>
        <pctVal>2.124023622519</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SUNBELT RENTALS HOLDINGS INC</name>
        <lei>529900W4BQDNMAOSRA49</lei>
        <title>SUNBELT RENTALS HOLDINGS INC SHS</title>
        <cusip>866966104</cusip>
        <identifiers>
          <isin value="US8669661048"/>
          <ticker value="SUNB"/>
        </identifiers>
        <balance>1637186.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>122477884.66000000</valUSD>
        <pctVal>3.390227516672</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>TAIWAN SEMICONDUCTOR MANUFACTURING COMPANY LTD</name>
        <lei>549300KB6NK5SBD14S87</lei>
        <title>TAIWAN SEMICONDUCTOR MANUFACTURING COMPANY LTD SPONSORED ADS</title>
        <cusip>874039100</cusip>
        <identifiers>
          <isin value="US8740391003"/>
          <ticker value="TSM"/>
        </identifiers>
        <balance>405979.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>193883391.03000000</valUSD>
        <pctVal>5.366755060478</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TW</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SAP SE</name>
        <lei>529900D6BF99LW9R2E68</lei>
        <title>SAP SE ORD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="DE0007164600"/>
          <ticker value="SAP"/>
          <other otherDesc="SEDOL" value="4846288"/>
        </identifiers>
        <balance>528328.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.87519692"/>
        <valUSD>80891454.76000000</valUSD>
        <pctVal>2.239101667638</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>LIBERTY MEDIA CORP</name>
        <lei>549300ZKUTPIBZLWLL89</lei>
        <title>LIBERTY MEDIA CORP COM LBTY ONE S A</title>
        <cusip>531229771</cusip>
        <identifiers>
          <isin value="US5312297717"/>
          <ticker value="FWONA"/>
        </identifiers>
        <balance>42201.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3694275.54000000</valUSD>
        <pctVal>0.102258743483</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>MSA SAFETY INC</name>
        <lei>529900DVA3258XK11O39</lei>
        <title>MSA SAFETY INC COM</title>
        <cusip>553498106</cusip>
        <identifiers>
          <isin value="US5534981064"/>
          <ticker value="MSA"/>
        </identifiers>
        <balance>672227.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>117357389.66000000</valUSD>
        <pctVal>3.248490556598</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CONSTELLATION SOFTWARE INC</name>
        <lei>549300B6PYHMCTDWQV29</lei>
        <title>CONSTELLATION SOFTWARE INC COM STK NPV</title>
        <cusip>21037X100</cusip>
        <identifiers>
          <isin value="CA21037X1006"/>
          <ticker value="CSU"/>
          <other otherDesc="SEDOL" value="B15C4L6"/>
        </identifiers>
        <balance>82980.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CAD" exchangeRt="1.41825000"/>
        <valUSD>156218297.20000000</valUSD>
        <pctVal>4.324173063940</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SAP SE</name>
        <lei>529900D6BF99LW9R2E68</lei>
        <title>SAP SE SPON ADR</title>
        <cusip>803054204</cusip>
        <identifiers>
          <isin value="US8030542042"/>
          <ticker value="SAP"/>
        </identifiers>
        <balance>453880.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>69947446.80000000</valUSD>
        <pctVal>1.936167982657</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CAPITAL ONE FINANCIAL CORP</name>
        <lei>ZUE8T73ROZOF6FLBAR73</lei>
        <title>CAPITAL ONE FINANCIAL CORP COM</title>
        <cusip>14040H105</cusip>
        <identifiers>
          <isin value="US14040H1059"/>
          <ticker value="COF"/>
        </identifiers>
        <balance>826743.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>165861180.66000000</valUSD>
        <pctVal>4.591091201340</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>UNITEDHEALTH GROUP INC</name>
        <lei>549300GHBMY8T5GXDE41</lei>
        <title>UNITEDHEALTH GROUP INC COM</title>
        <cusip>91324P102</cusip>
        <identifiers>
          <isin value="US91324P1021"/>
          <ticker value="UNH"/>
        </identifiers>
        <balance>277001.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>115129925.63000000</valUSD>
        <pctVal>3.186833630796</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BIO-TECHNE CORP</name>
        <lei>54930073RLKQ51TILZ35</lei>
        <title>BIO-TECHNE CORP COM</title>
        <cusip>09073M104</cusip>
        <identifiers>
          <isin value="US09073M1045"/>
          <ticker value="TECH"/>
        </identifiers>
        <balance>1385711.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>97900482.15000000</valUSD>
        <pctVal>2.709917054836</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>UNIVERSAL MUSIC GROUP NV</name>
        <lei>724500GJBUL3D9TW9Y18</lei>
        <title>UNIVERSAL MUSIC GROUP NV EUR10.00</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="NL0015000IY2"/>
          <ticker value="UMG"/>
          <other otherDesc="SEDOL" value="BNZGVV1"/>
        </identifiers>
        <balance>11508680.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.87519692"/>
        <valUSD>241036159.69000000</valUSD>
        <pctVal>6.671958969267</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BERKSHIRE HATHAWAY INC</name>
        <lei>5493000C01ZX7D35SD85</lei>
        <title>BERKSHIRE HATHAWAY INC CL B NEW</title>
        <cusip>084670702</cusip>
        <identifiers>
          <isin value="US0846707026"/>
          <ticker value="BRK/B"/>
        </identifiers>
        <balance>78269.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>39165024.91000000</valUSD>
        <pctVal>1.084100574643</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CONSTELLATION SOFTWARE INC</name>
        <lei>549300B6PYHMCTDWQV29</lei>
        <title>CONSTELLATION SOFTWARE INC WT EXP 033140</title>
        <cusip>21037X134</cusip>
        <identifiers>
          <isin value="CA21037X1345"/>
          <ticker value="2299955D"/>
          <other otherDesc="SEDOL" value="BR52TP7"/>
        </identifiers>
        <balance>99240.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CAD" exchangeRt="1.41825000"/>
        <valUSD>0.00000000</valUSD>
        <pctVal>0.000000</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>LIBERTY MEDIA CORP</name>
        <lei>549300ZKUTPIBZLWLL89</lei>
        <title>LIBERTY MEDIA CORP COM LBTY ONE S C</title>
        <cusip>531229755</cusip>
        <identifiers>
          <isin value="US5312297550"/>
          <ticker value="FWONK"/>
        </identifiers>
        <balance>2739436.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>260629941.04000000</valUSD>
        <pctVal>7.214321183252</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ALPHABET INC</name>
        <lei>5493006MHB84DD0ZWV18</lei>
        <title>ALPHABET INC CAP STK CL A</title>
        <cusip>02079K305</cusip>
        <identifiers>
          <isin value="US02079K3059"/>
          <ticker value="GOOGL"/>
        </identifiers>
        <balance>931141.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>332761859.17000000</valUSD>
        <pctVal>9.210956039851</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ACCENTURE PLC</name>
        <lei>5493000EWHDSR3MZWH98</lei>
        <title>ACCENTURE PLC CLS'A'USD0.0000225</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="IE00B4BNMY34"/>
          <ticker value="ACN"/>
          <other otherDesc="SEDOL" value="B4BNMY3"/>
        </identifiers>
        <balance>352334.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>43844442.96000000</valUSD>
        <pctVal>1.213628381881</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <explntrNotes>
      <explntrNote note="Monthly returns presented in Item B.5(a) have been calculated without deducting any applicable sales loads or redemption fees." noteItem="B.5.a"/>
    </explntrNotes>
    <signature>
      <ncom:dateSigned>2026-08-21</ncom:dateSigned>
      <ncom:nameOfApplicant>Sequoia Fund Inc</ncom:nameOfApplicant>
      <ncom:signature>Patrick Dennis</ncom:signature>
      <ncom:signerName>Patrick Dennis</ncom:signerName>
      <ncom:title>Treasurer</ncom:title>
    </signature>
  </formData>
</edgarSubmission>
