Sealed proof · filed Form 990-PF

JOHN D AND CATHERINE T MACARTHUR FOUNDATION

EIN 23-7093598, tax year January 1, 2024 to December 31, 2024. The return the foundation filed, as the IRS published it, with its arithmetic re-done exactly and sealed September 28, 2026.

Listed in the IRS register as JOHN D & CATHERINE T MACARTHUR FOUNDATION. The name above is as written on the return; the EIN is the same foundation.

This is the latest return the IRS has published for this foundation. Its tax year ended 21 months ago, so a later one may have been filed since and not yet appear in the public file. The IRS received it on November 12, 2025.

The answer

Nothing carried into the next year: the return shows the year’s amount paid within the year.

Every line we re-do agrees with the return as filed.

Keep this record for the foundation, year on year: the Filing Record, the foundation’s own order, cancellable in writing for a full refund until thirty days after the filing deadline.

Qualifying distributions1.09×

the distributable amount (Part XI ÷ Part X)

Carried to next year$0

undistributed income, Part XII: nothing carried into the next year

Distributions as a rate5.4%

of net noncharitable-use assets; the legal test is the distributable amount, not this rate

Assets at fair market value$9.31B

end of the tax year, Part II

Largest listed stock8.9%

ISHARES CORE S P 500 ETF

If that stock halved−4.5%

of total assets, from that one name

Keep This Record

Filing Record: $2,600 a year, direct or at cost through the firm that prepares the return. This page stays whether or not the foundation buys anything. Cancel in writing for any reason, any time up to 30 days after your statutory 990-PF filing deadline (or 12 months from invoice, whichever is earlier): the year is refunded in full to the payer, and seals already generated remain checkable. Or write to a person →

Nothing here can be changed quietly. Try it

JOHN D AND CATHERINE T MACARTHUR FOUNDATION · Form 990-PF, year ended December 31, 2024checking

Minimum investment return (the 5% figure)Excise tax on investment incomeDistributable amount (what had to be paid out)Qualifying distributions (what was paid out)

Recomputing the seal in your browser…

The foundation’s own public return, sealed through the same free action as yours. Your edits stay in this page: nothing is sent and nothing is saved. A sealed copy shows nothing changed; it does not show the original was correct.

This page’s own short link: paretoalphasystems.com/p/c9d0cc04af3a — it fits on a printed page, and whoever opens it can run the same check.

The return’s own arithmetic, re-done

Each line as filed and as recomputed
Line	As filed	Recomputed	Result
Minimum investment return: 5% of net noncharitable-use assets (Part IX line 6)	$433,119,518	$433,119,517.95	recomputes, within the form's whole-dollar rounding (difference $0.05)
Excise tax: 1.39% of net investment income (Part V line 1)	$11,008,617	$11,008,617.3679	recomputes, within the form's whole-dollar rounding (difference −$0.3679)
Distributable amount: minimum investment return − taxes + recoveries − deduction (Part X line 7)	$428,654,370	$428,654,370	recomputes exactly

Where the assets sit, at fair market value

Assets by Part II line, at fair market value
Part II line	Fair market value	Share of assets
Cash (line 1)	$25.7M	0.3%
Savings and temporary cash investments (line 2)	$1.11B	11.9%
Corporate stock (line 10b)	$4.81B	51.6%
Corporate bonds (line 10c)	$64.5M	0.7%
Land and buildings held as investments (line 11)	$2.3M	<0.1%
Other investments (line 13)	$3.18B	34.1%

The ten largest listed stocks, of 103 on the schedule

The schedule ties to Part II line 10b exactly. It behaves like 19.2 equal holdings; the ten largest are 50.6% of the listed stock.

The ten largest listed stocks
Stock, as listed	Fair market value	Share of assets
ISHARES CORE S P 500 ETF	$831.8M	8.9%
SEQUOIA HERITAGE (SCHF USTE, L.P.)	$366.1M	3.9%
MILLENNIUM INTERNATIONAL, LTD.	$294M	3.2%
HOLOCENE ADVISORS OFFSHORE FUND LTD.	$162.6M	1.7%
CITADEL KENSINGTON GLOBAL STRATEGIES FUND LTD.	$161.7M	1.7%
TWO SIGMA ABSOLUTE RETURN ENHANCED CAYMAN FUND, LTD.	$143.7M	1.5%
SCHONFELD STRATEGIC PARTNERS EQUITY OFFSHORE FUND LTD.	$131M	1.4%
RADCLIFFE INTERNATIONAL ULTRA SHORT DURATION FUND	$123.8M	1.3%
THE CHILDREN'S INVESTMENT FUND	$112.1M	1.2%
ATLAS ENHANCED FUND, LTD.	$105.6M	1.1%

Largest other investments (line 13), as listed

Largest other investments, line 13
SEQUOIA CAPITAL FUND	$106M	1.1%
HONGSHAN CAPITAL GROWTH FUND III LP	$81.9M	0.9%
NUMERIC EMERGING MARKETS ALPHA FUND LP	$70.4M	0.8%
CATALYST FUND LIMITED PARTNERSHIP II	$53.1M	0.6%
FIVE POINT ENERGY FUND III LP	$46.4M	0.5%

What the foundation answered on the form

Part VI-B 4a: did the foundation invest during the year in a manner that would jeopardize its charitable purposes? No
Part VI-B 4b: did it make any investment in a prior year that could jeopardize its charitable purpose and that had not been removed from jeopardy? No
Part VI-B 3a: did it hold more than a 2% direct or indirect interest in any business enterprise? Yes
Part VI-B 3b: did it have excess business holdings? No
Part VI-B 2a: did it have undistributed income for prior years? No

Quoted as filed. These are the foundation’s own answers; this page does not test them.

Control statement · nine controls

Nine controls, read from the return.

Each control reads one part of the filed return and states a fact in a fixed vocabulary: agrees, differs, reported, not reported, not applicable, not checked. Whether any of it met a requirement is counsel’s question, not this page’s.

Recomputed each time the page is read; not part of the seal. The seal covers the body above (controls v2, kernel@2026-09-15.1).

This return: 4 agree, 4 reported, 1 not checked.

Control	Reads	Result	Detail
Minimum investment return	Part IX line 6 against 5% of line 5, prorated for a short year	agrees	Filed $433,119,518; recomputed $433,119,517.95; agrees within the form's whole-dollar rounding.
Excise tax	Part V line 1 against 1.39% of net investment income	agrees	Filed $11,008,617; recomputed $11,008,617.36; agrees within the form's whole-dollar rounding.
Distributable amount	Part X line 7 against the form's own chain from line 1	agrees	Filed $428,654,370; recomputed $428,654,370; agrees to the dollar.
Payout coverage	Part XI total against Part X line 7	reported	Qualifying distributions $468,169,033 against a distributable amount of $428,654,370 (1.09×).
Payout deadline	Part XII undistributed income and the date it falls due	reported	Part XII reports $0 undistributed income for the year ended 31 December 2024: nothing carried into the next year, so nothing from this year falls due by 31 December 2025.
Holdings tie-out	The corporate-stock schedule against Part II line 10b	agrees	103 listed holdings sum to Part II line 10b exactly; the largest is 8.9% of total assets.
The foundation's own answers	Part VI-B 2a, 3a, 3b, 4a and 4b, each answered	reported	All 5 answered; Yes to Part VI-B 3a.
Filing timeliness	The e-file timestamp beside the original due date and the extension window, each with its IRC §7503 roll to the next business day	reported	Return timestamped 12 November 2025; the original due date was 15 May 2025; the six-month extension window ended 15 November 2025 (a Saturday, so 17 November 2025 under IRC §7503). Whether an extension was granted is not visible in the e-file; the timestamp is the preparer software's, not the IRS receipt.
Year-to-year continuity	This year's opening balances against last year's closing	not checked	Needs the prior year's return; one sealed year cannot check itself.

A line that differs is the return’s figure beside the recomputed one, as filed and as recomputed. The return may carry a reason this page cannot read: a schedule filed on paper, an election, a later amendment. It is not a finding. The page is not indexed. It is read by whoever holds the link: the person who asked for it, and anyone the foundation sends it to, its preparer first.

Year-to-year continuity needs two filed years on record. The years, below, reads this foundation’s filed returns in order and holds each against the one before.

The calendar ahead

A payout is owed on last year’s assets, whatever this year’s market does.

Recomputed each time the page is read; not part of the seal. The seal covers the body above (forward v2, kernel@2026-09-15.1). Read against October 8, 2026.

By	What	Amount	Basis
May 15, 2026 Passed	Excise tax on the year ending 31 December 2025, due with that return by 15 May 2026. That date has passed; the figure for that year is on its own return, not this one.	$11,008,617	Projected under the assumptions below
December 31, 2026	Distributable amount for the year ending 31 December 2025, to be paid out	$422,110,900	Projected under the assumptions below

If net noncharitable-use assets fell 20% over the year ending December 31, 2025: what is owed now, nothing from Part XII, is unchanged; the following year’s minimum investment return would be $346,495,614, $86,623,903 less than the projection.

The assumptions, the forward kernel proof, and what was refused

Net noncharitable-use assets for the year ending 31 December 2025 equal this return's Part IX line 5, $8662390359; the thirteen-month average is not observable from a filing.
Net investment income for that year equals this return's, $791986861.
No recoveries, income tax or deduction next year; the rates stay 5% and 1.39%; a full tax year.
The fall shown is 20% of net noncharitable-use assets, applied to next year's average only; what is already owed was computed on this year's average and is unchanged.
Forward kernel proof (the projection’s own, recomputed, not sealed) e0e5841cd866199c… · kernel@2026-09-15.1 · forward v2, controls v2

A projection under the stated assumptions, from the foundation's own filed figures; not a forecast, not advice.
The foundation's preparer computes the actual amounts from the year's monthly values; this page states what the last return implies if nothing changes.
What is already owed was computed on last year's average assets and does not change with this year's market.

Walk through it with a person →

The years · carryover chain

One return is one year. The payout is kept across six.

What a foundation leaves undistributed is due by the end of the next tax year, and what it distributes beyond the year’s amount may be applied in the five years after. So what is owed, and what may be set against it, is only readable across the filed years. The IRS publishes those years; this reads them in order, re-adds each Part XII, and holds each year’s opening lines against the year before’s closing lines.

Sealed under a hash of their own the first time they are opened; not part of the seal above.

Up to six filed returns, read from the IRS and sealed under one hash, at a page of their own. Nothing about you is recorded.

The seal

Recomputed just now: it matches what was sealed on September 28, 2026. Anyone can check it without us.

For your auditor: what this hash is over, and how to check it from the IRS’s own file

proof c9d0cc04af3a9bdc6e42e942a554496c91c64914cd84def73b27c96eb35ec65c · recomputed now, matches

return Form 990-PF, IRS object 202503169349102460, schema 2024v5.2 — the file as the IRS published it hashes to ed59d8fe344c70dc…

source file 202503169349102460_public.xml inside 2025_TEOS_XML_11A.zip at irs.gov — not part of the seal; fetch it yourself with verify_proof.py c9d0cc04af3a --fetch

arithmetic kernel@2026-09-15.1 · kernel proof fe5a4766457ead1b…

rules b839212b6742304a91af2ff9e04e24acdb32ac9fd48760e6b89289b532c4c45b · commit f80886675d1e — the digest of the 990-PF rules this proof was sealed under (body v2); a proof of the same return under later rules names this hash as superseded

This page is not listed on this site and asks search engines not to index it. It is reached by its link, which whoever asked for it holds.

This foundation’s finance lead or counsel: to add a note beside this page, ask for a correction, or keep the record, write to us.

11,842 foundation returns re-done by the same code; in 11,827 every line we recompute agrees. The study.

This page stays whether or not the foundation buys anything.

Filing Record: $2,600 a year, direct or carried at cost by the firm that prepares the return.

Check It at /verifyKeep This Record

The program, and the full body that was hashed

let total_assets_fmv = 9311570852 USD
let mix_cash = share(25654048 USD, total_assets_fmv)
let mix_savings = share(1111660903 USD, total_assets_fmv)
let mix_stock = share(4807606945 USD, total_assets_fmv)
let mix_bonds = share(64509912 USD, total_assets_fmv)
let mix_land = share(2320994 USD, total_assets_fmv)
let mix_other = share(3179813417 USD, total_assets_fmv)
let net_noncharitable_assets = 8662390359 USD
let mir_filed = 433119518 USD
let mir_recomputed = net_noncharitable_assets * 5%
let mir_difference = mir_filed - mir_recomputed
let net_investment_income = 791986861 USD
let excise_filed = 11008617 USD
let excise_recomputed = net_investment_income * 1.39%
let excise_difference = excise_filed - excise_recomputed
let distributable_filed = 428654370 USD
let distributable_recomputed = 433119518 USD - 11760563 USD + 7295415 USD - 0 USD
let distributable_difference = distributable_filed - distributable_recomputed
let qualifying_distributions = 468169033 USD
let payout_coverage = qualifying_distributions / distributable_filed
let payout_rate = share(qualifying_distributions, net_noncharitable_assets)
let undistributed_to_next_year = 0 USD
let stocks = [831783065 USD, 366118253 USD, 294007618 USD, 162586525 USD, 161688925 USD, 143739850 USD, 130995904 USD, 123844538 USD, 112085775 USD, 105575362 USD, 103636634 USD, 98770926 USD, 97116025 USD, 94013721 USD, 81801895 USD, 79404208 USD, 79007438 USD, 77734041 USD, 75337023 USD, 74796457 USD, 74206938 USD, 73717353 USD, 73217222 USD, 70573515 USD, 70073399 USD, 69247707 USD, 68025066 USD, 66973942 USD, 63824720 USD, 63665801 USD, 61541836 USD, 59066628 USD, 56543292 USD, 56235534 USD, 53879887 USD, 52578927 USD, 52342875 USD, 50272961 USD, 49526170 USD, 46909769 USD, 44958406 USD, 40076929 USD, 38661458 USD, 37254967 USD, 32601856 USD, 17608218 USD, 5057061 USD, 3784432 USD, 3618159 USD, 2271287 USD, 2245949 USD, 2153750 USD, 2122559 USD, 2087093 USD, 2017556 USD, 1994616 USD, 1870822 USD, 1797256 USD, 1755103 USD, 1729214 USD, 1712491 USD, 1626644 USD, 1576448 USD, 1538726 USD, 1528827 USD, 1506537 USD, 1383098 USD, 1349030 USD, 1337556 USD, 1290887 USD, 1284632 USD, 1244894 USD, 1234044 USD, 1195476 USD, 1144238 USD, 1140907 USD, 972550 USD, 964291 USD, 884909 USD, 882510 USD, 855602 USD, 760491 USD, 731420 USD, 645860 USD, 645031 USD, 633149 USD, 566615 USD, 554685 USD, 548031 USD, 523731 USD, 521244 USD, 473861 USD, 464379 USD, 370060 USD, 349938 USD, 212447 USD, 186010 USD, 173702 USD, 165626 USD, 135668 USD, 128962 USD, 27197 USD, 125 USD]
let stock_count = count(stocks)
let largest_stock = max(stocks)
let largest_stock_share_of_assets = share(largest_stock, total_assets_fmv)
let top10_share_of_stock = share(sum([831783065 USD, 366118253 USD, 294007618 USD, 162586525 USD, 161688925 USD, 143739850 USD, 130995904 USD, 123844538 USD, 112085775 USD, 105575362 USD]), sum(stocks))
let stock_concentration = hhi(stocks)
let effective_stock_holdings = 1 / stock_concentration
let largest_stock_halved_share_of_assets = share(largest_stock * 50%, total_assets_fmv)

{
  "mix": [
    {
      "fmv": "25654048",
      "line": "cash",
      "label": "Cash (line 1)",
      "share": "0.0027550719860000695831036780259"
    },
    {
      "fmv": "1111660903",
      "line": "savings",
      "label": "Savings and temporary cash investments (line 2)",
      "share": "0.119384894414590660733770680436"
    },
    {
      "fmv": "4807606945",
      "line": "stock",
      "label": "Corporate stock (line 10b)",
      "share": "0.516304608686663301565994463423"
    },
    {
      "fmv": "64509912",
      "line": "bonds",
      "label": "Corporate bonds (line 10c)",
      "share": "0.00692793010173403124527930080771"
    },
    {
      "fmv": "2320994",
      "line": "land",
      "label": "Land and buildings held as investments (line 11)",
      "share": "0.000249259124683724202198660346938"
    },
    {
      "fmv": "3179813417",
      "line": "other",
      "label": "Other investments (line 13)",
      "share": "0.341490546282748727346525269182"
    }
  ],
  "kind": "public-filing-990pf",
  "lens": "AXIOM",
  "build": {
    "commit": "f80886675d1e9841aaf04d9ad7d91262ed5fee38",
    "digest": "b839212b6742304a91af2ff9e04e24acdb32ac9fd48760e6b89289b532c4c45b"
  },
  "filer": {
    "ein": "237093598",
    "name": "JOHN D AND CATHERINE T MACARTHUR FOUNDATION"
  },
  "scope": [
    "Every figure here is the foundation's own filed return or exact arithmetic on it; nothing is estimated.",
    "A 990-PF is a year-end snapshot. Prudence is judged at the time of each decision, which a filing cannot show.",
    "This page neither establishes nor rules out any tax consequence, and no return is prepared or amended here.",
    "A line that differs is the return's figure beside the recomputed one, as filed and as recomputed. The return may carry a reason this page cannot read: a schedule filed on paper, an election, a later amendment. It is not a finding."
  ],
  "checks": [
    {
      "id": "minimum_investment_return",
      "note": null,
      "filed": "433119518",
      "label": "Minimum investment return: 5% of net noncharitable-use assets (Part IX line 6)",
      "verdict": "rounding",
      "difference": "0.05",
      "recomputed": "433119517.95"
    },
    {
      "id": "excise_tax",
      "note": null,
      "filed": "11008617",
      "label": "Excise tax: 1.39% of net investment income (Part V line 1)",
      "verdict": "rounding",
      "difference": "-0.3679",
      "recomputed": "11008617.3679"
    },
    {
      "id": "distributable_amount",
      "note": null,
      "filed": "428654370",
      "label": "Distributable amount: minimum investment return − taxes + recoveries − deduction (Part X line 7)",
      "verdict": "exact",
      "difference": "0",
      "recomputed": "428654370"
    }
  ],
  "engine": "kernel@2026-09-15.1",
  "source": {
    "form": "990-PF",
    "lines": {
      "netInvestmentIncome": "791986861",
      "grossInvestmentIncome": "812072909",
      "netNoncharitableAssets": "8662390359",
      "undistributedCurrentYear": "0"
    },
    "period": {
      "end": "2024-12-31",
      "days": 366,
      "begin": "2024-01-01"
    },
    "amended": false,
    "foreign": {
      "organization": false,
      "meets85PctTest": false
    },
    "objectId": "202503169349102460",
    "returnTs": "2025-11-12T12:44:10-06:00",
    "operating": false,
    "sourceSha256": "ed59d8fe344c70dc546fb7dab4fad3d2289482f5c9b4742919ee5c2b6b93ac11",
    "returnVersion": "2024v5.2",
    "partXBoxChecked": false
  },
  "answers": [
    {
      "answer": "No",
      "question": "Part VI-B 4a: did the foundation invest during the year in a manner that would jeopardize its charitable purposes?"
    },
    {
      "answer": "No",
      "question": "Part VI-B 4b: did it make any investment in a prior year that could jeopardize its charitable purpose and that had not been removed from jeopardy?"
    },
    {
      "answer": "Yes",
      "question": "Part VI-B 3a: did it hold more than a 2% direct or indirect interest in any business enterprise?"
    },
    {
      "answer": "No",
      "question": "Part VI-B 3b: did it have excess business holdings?"
    },
    {
      "answer": "No",
      "question": "Part VI-B 2a: did it have undistributed income for prior years?"
    }
  ],
  "program": "let total_assets_fmv = 9311570852 USD\nlet mix_cash = share(25654048 USD, total_assets_fmv)\nlet mix_savings = share(1111660903 USD, total_assets_fmv)\nlet mix_stock = share(4807606945 USD, total_assets_fmv)\nlet mix_bonds = share(64509912 USD, total_assets_fmv)\nlet mix_land = share(2320994 USD, total_assets_fmv)\nlet mix_other = share(3179813417 USD, total_assets_fmv)\nlet net_noncharitable_assets = 8662390359 USD\nlet mir_filed = 433119518 USD\nlet mir_recomputed = net_noncharitable_assets * 5%\nlet mir_difference = mir_filed - mir_recomputed\nlet net_investment_income = 791986861 USD\nlet excise_filed = 11008617 USD\nlet excise_recomputed = net_investment_income * 1.39%\nlet excise_difference = excise_filed - excise_recomputed\nlet distributable_filed = 428654370 USD\nlet distributable_recomputed = 433119518 USD - 11760563 USD + 7295415 USD - 0 USD\nlet distributable_difference = distributable_filed - distributable_recomputed\nlet qualifying_distributions = 468169033 USD\nlet payout_coverage = qualifying_distributions / distributable_filed\nlet payout_rate = share(qualifying_distributions, net_noncharitable_assets)\nlet undistributed_to_next_year = 0 USD\nlet stocks = [831783065 USD, 366118253 USD, 294007618 USD, 162586525 USD, 161688925 USD, 143739850 USD, 130995904 USD, 123844538 USD, 112085775 USD, 105575362 USD, 103636634 USD, 98770926 USD, 97116025 USD, 94013721 USD, 81801895 USD, 79404208 USD, 79007438 USD, 77734041 USD, 75337023 USD, 74796457 USD, 74206938 USD, 73717353 USD, 73217222 USD, 70573515 USD, 70073399 USD, 69247707 USD, 68025066 USD, 66973942 USD, 63824720 USD, 63665801 USD, 61541836 USD, 59066628 USD, 56543292 USD, 56235534 USD, 53879887 USD, 52578927 USD, 52342875 USD, 50272961 USD, 49526170 USD, 46909769 USD, 44958406 USD, 40076929 USD, 38661458 USD, 37254967 USD, 32601856 USD, 17608218 USD, 5057061 USD, 3784432 USD, 3618159 USD, 2271287 USD, 2245949 USD, 2153750 USD, 2122559 USD, 2087093 USD, 2017556 USD, 1994616 USD, 1870822 USD, 1797256 USD, 1755103 USD, 1729214 USD, 1712491 USD, 1626644 USD, 1576448 USD, 1538726 USD, 1528827 USD, 1506537 USD, 1383098 USD, 1349030 USD, 1337556 USD, 1290887 USD, 1284632 USD, 1244894 USD, 1234044 USD, 1195476 USD, 1144238 USD, 1140907 USD, 972550 USD, 964291 USD, 884909 USD, 882510 USD, 855602 USD, 760491 USD, 731420 USD, 645860 USD, 645031 USD, 633149 USD, 566615 USD, 554685 USD, 548031 USD, 523731 USD, 521244 USD, 473861 USD, 464379 USD, 370060 USD, 349938 USD, 212447 USD, 186010 USD, 173702 USD, 165626 USD, 135668 USD, 128962 USD, 27197 USD, 125 USD]\nlet stock_count = count(stocks)\nlet largest_stock = max(stocks)\nlet largest_stock_share_of_assets = share(largest_stock, total_assets_fmv)\nlet top10_share_of_stock = share(sum([831783065 USD, 366118253 USD, 294007618 USD, 162586525 USD, 161688925 USD, 143739850 USD, 130995904 USD, 123844538 USD, 112085775 USD, 105575362 USD]), sum(stocks))\nlet stock_concentration = hhi(stocks)\nlet effective_stock_holdings = 1 / stock_concentration\nlet largest_stock_halved_share_of_assets = share(largest_stock * 50%, total_assets_fmv)",
  "results": {
    "mix_cash": "0.0027550719860000695831036780259",
    "mix_land": "0.000249259124683724202198660346938",
    "mir_filed": "433119518 USD",
    "mix_bonds": "0.00692793010173403124527930080771",
    "mix_other": "0.341490546282748727346525269182",
    "mix_stock": "0.516304608686663301565994463423",
    "mix_savings": "0.119384894414590660733770680436",
    "payout_rate": "0.0540461712757592895266104458408",
    "stock_count": "103",
    "excise_filed": "11008617 USD",
    "largest_stock": "831783065 USD",
    "mir_difference": "0.05 USD",
    "mir_recomputed": "433119517.95 USD",
    "payout_coverage": "1.09218304014957318643456265242",
    "total_assets_fmv": "9311570852 USD",
    "excise_difference": "-0.3679 USD",
    "excise_recomputed": "11008617.3679 USD",
    "distributable_filed": "428654370 USD",
    "stock_concentration": "0.052030337577525531032636328739",
    "top10_share_of_stock": "0.505953552947952154187596548619",
    "net_investment_income": "791986861 USD",
    "distributable_difference": "0 USD",
    "distributable_recomputed": "428654370 USD",
    "effective_stock_holdings": "19.2195562542717255135229077679",
    "net_noncharitable_assets": "8662390359 USD",
    "qualifying_distributions": "468169033 USD",
    "undistributed_to_next_year": "0 USD",
    "largest_stock_share_of_assets": "0.0893278994726592453575844841781",
    "largest_stock_halved_share_of_assets": "0.044663949736329622678792242089"
  },
  "version": 2,
  "holdings": {
    "tie": "exact",
    "top": [
      {
        "fmv": "831783065",
        "name": "ISHARES CORE S P 500 ETF",
        "shareOfAssets": "0.0893278994726592453575844841781"
      },
      {
        "fmv": "366118253",
        "name": "SEQUOIA HERITAGE (SCHF USTE, L.P.)",
        "shareOfAssets": "0.039318634720087291239353606757"
      },
      {
        "fmv": "294007618",
        "name": "MILLENNIUM INTERNATIONAL, LTD.",
        "shareOfAssets": "0.031574438155818910370892165768"
      },
      {
        "fmv": "162586525",
        "name": "HOLOCENE ADVISORS OFFSHORE FUND LTD.",
        "shareOfAssets": "0.0174606978332854122388414383941"
      },
      {
        "fmv": "161688925",
        "name": "CITADEL KENSINGTON GLOBAL STRATEGIES FUND LTD.",
        "shareOfAssets": "0.0173643016382430679484669188876"
      },
      {
        "fmv": "143739850",
        "name": "TWO SIGMA ABSOLUTE RETURN ENHANCED CAYMAN FUND, LTD.",
        "shareOfAssets": "0.0154366918626975400476714323561"
      },
      {
        "fmv": "130995904",
        "name": "SCHONFELD STRATEGIC PARTNERS EQUITY OFFSHORE FUND LTD.",
        "shareOfAssets": "0.0140680778874021931783073544077"
      },
      {
        "fmv": "123844538",
        "name": "RADCLIFFE INTERNATIONAL ULTRA SHORT DURATION FUND",
        "shareOfAssets": "0.0133000693404378554794677086134"
      },
      {
        "fmv": "112085775",
        "name": "THE CHILDREN'S INVESTMENT FUND",
        "shareOfAssets": "0.0120372573845502647097293439571"
      },
      {
        "fmv": "105575362",
        "name": "ATLAS ENHANCED FUND, LTD.",
        "shareOfAssets": "0.0113380828732376379065541582801"
      }
    ],
    "count": 103,
    "schedule": "Corporate stock (line 10b)"
  },
  "refusals": [],
  "blankLines": [],
  "kernelProof": "fe5a4766457ead1bf1317f76bf5c482b1c8ca1852469728ecaf4c79d18a6e09f",
  "otherInvestments": [
    {
      "fmv": "105999090",
      "name": "SEQUOIA CAPITAL FUND",
      "shareOfAssets": "0.0113835884068081620392099229875"
    },
    {
      "fmv": "81872462",
      "name": "HONGSHAN CAPITAL GROWTH FUND III LP",
      "shareOfAssets": "0.00879255104227821000958646842931"
    },
    {
      "fmv": "70376056",
      "name": "NUMERIC EMERGING MARKETS ALPHA FUND LP",
      "shareOfAssets": "0.00755791446132680943702923992958"
    },
    {
      "fmv": "53147772",
      "name": "CATALYST FUND LIMITED PARTNERSHIP II",
      "shareOfAssets": "0.00570771278495771467282392751749"
    },
    {
      "fmv": "46353326",
      "name": "FIVE POINT ENERGY FUND III LP",
      "shareOfAssets": "0.00497803504228762109622188589238"
    }
  ]
}

The seal’s own scope:

Every figure here is the foundation's own filed return or exact arithmetic on it; nothing is estimated.
A 990-PF is a year-end snapshot. Prudence is judged at the time of each decision, which a filing cannot show.
This page neither establishes nor rules out any tax consequence, and no return is prepared or amended here.
A line that differs is the return's figure beside the recomputed one, as filed and as recomputed. The return may carry a reason this page cannot read: a schedule filed on paper, an election, a later amendment. It is not a finding.

We don’t prepare or file a 990-PF. We read the one the foundation filed, re-do its arithmetic exactly, and seal what it says.