INVESTMENT RETURN TABLE


Comparison of the Investment Return of the Sequoia Fund
(from inception) vs. the Standard & Poor's 500

Average annual total return:

14.45%
10.92%

Change for the entire period:

38916.02%

9668.15%

Period Ending

Sequoia Fund
S&P 500
09/30/2014
0.25%
8.34%
12/31/2013
34.58%
32.39%
12/31/2012
15.68%
16.00%
12/31/2011
13.19%
2.11%
12/31/2010
19.50%
15.06%
12/31/2009
15.38%
26.46%
12/31/2008
-27.03%
-37.00%
12/31/2007
8.40%
5.49%
12/31/2006
8.34%
15.80%
12/31/2005
7.78%
4.91%
12/31/2004
4.66%
10.88%
12/31/2003
17.12%
28.69%
12/31/2002
-2.64%
-22.10%
12/31/2001
10.52%
-11.89%
12/31/2000
20.06%
-9.10%
12/31/1999
-16.54%
21.04%
12/31/1998
35.25%
28.57%
12/31/1997
43.20%
33.34%
12/31/1996
21.74%
22.99%
12/31/1995
41.38%
37.53%
12/31/1994
3.34%
1.30%
12/31/1993
10.78%
10.06%
12/31/1992
9.36%
7.62%
12/31/1991
40.00%
30.45%
12/31/1990
-3.80%
-3.14%
12/31/1989
27.91%
31.65%
12/31/1988
11.05%
16.57%
12/31/1987
7.40%
5.22%
12/31/1986
13.38%
18.70%
12/31/1985
27.95%
31.76%
12/31/1984
18.50%
6.26%
12/31/1983
27.31%
22.56%
12/31/1982
31.12%
21.59%
12/31/1981
21.49%
-4.93%
12/31/1980
12.66%
32.51%
12/31/1979
12.05%
18.63%
12/31/1978
23.93%
6.51%
12/31/1977
19.88%
-7.20%
12/31/1976
72.37%
23.96%
12/31/1975
61.84%
37.30%
12/31/1974
-15.48%
-26.52%
12/31/1973
-24.80%
-14.72%
12/31/1972
3.61%
18.98%
12/31/1971
13.64%
14.29%
12/31/70*
12.11%
20.60%

Includes dividends, and in the case of the Sequoia Fund, capital gains distributions as if reinvested.

* From July 15, 1970

Year to date performance as of the most recent month end can be obtained by calling DST Systems, Inc. at (800) 686-6884.
Quote Snapshot provided by Ticker Technologies Inc. ©2014
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