Ruane Cunniff (Sequoia Fund)

Ruane Cunniff is a New York investment adviser whose managing partner is John Harris. Its best-known strategy, Sequoia, follows the firm's tradition of buying carefully researched businesses at prices below estimated intrinsic value. The Sequoia team includes Harris, Arman Gokgol-Kline and Trevor Magyar, while other teams run distinct strategies. Across the organization, the emphasis is on understanding businesses deeply and holding a focused selection over time. The firm serves private partnerships, managed accounts and fund investors. Its combined disclosure is broader than a single Sequoia portfolio.

Context The firm's parent, Ruane, Cunniff & Goldfarb Inc., was among the defendants in litigation over a DST Systems retirement plan's concentrated investments, including Valeant Pharmaceuticals. The Department of Labor alleged failures to diversify and breaches of fiduciary duties. The related class settlement received final court approval in 2023. The department also reported that Ruane had since taken steps to limit investment concentrations in other retirement plans it managed.