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        <ExcessDistributionCyovYr2Amt>0</ExcessDistributionCyovYr2Amt>
        <ExcessDistributionCyovYr1Amt>0</ExcessDistributionCyovYr1Amt>
        <TotalExcessDistributionCyovAmt>0</TotalExcessDistributionCyovAmt>
        <QualifyingDistributionsAmt>4208533</QualifyingDistributionsAmt>
        <AppliedToYear1Amt>3931150</AppliedToYear1Amt>
        <AppliedToCurrentYearAmt>277383</AppliedToCurrentYearAmt>
        <RemainingDistriFromCorpusAmt>0</RemainingDistriFromCorpusAmt>
        <ExcessDistriCyovAppCYCorpusAmt>0</ExcessDistriCyovAppCYCorpusAmt>
        <ExcessDistributionCyovAppCYAmt>0</ExcessDistributionCyovAppCYAmt>
        <TotalCorpusAmt>0</TotalCorpusAmt>
        <UndistributedIncomeCYAmt>5588872</UndistributedIncomeCYAmt>
        <ExcessDistriCyovToNextYrAmt>0</ExcessDistriCyovToNextYrAmt>
        <ExcessFromYear3Amt>0</ExcessFromYear3Amt>
        <ExcessFromYear2Amt>0</ExcessFromYear2Amt>
        <ExcessFromYear1Amt>0</ExcessFromYear1Amt>
        <ExcessFromCurrentYearAmt>0</ExcessFromCurrentYearAmt>
      </UndistributedIncomeGrp>
      <PrivateOperatingFoundationsGrp></PrivateOperatingFoundationsGrp>
      <SupplementaryInformationGrp>
        <ContributingManagerNm>MARK LAMPERT SUSAN BYRD</ContributingManagerNm>
        <ShareholderManagerNm>NONE</ShareholderManagerNm>
        <OnlyContriToPreselectedInd>X</OnlyContriToPreselectedInd>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>The San Francisco Foundation</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>1 Embarcadero Center</AddressLine1Txt>
            <CityNm>San Francisco</CityNm>
            <StateAbbreviationCd>CA</StateAbbreviationCd>
            <ZIPCd>94111</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>PC</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>Paid to The San Francisco Foundation to help further its cause.</GrantOrContributionPurposeTxt>
          <Amt>2000000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>Boyd Group for Creative Solutions</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>2203 Haugen Street</AddressLine1Txt>
            <CityNm>Cody</CityNm>
            <StateAbbreviationCd>WY</StateAbbreviationCd>
            <ZIPCd>82414</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>PC</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>Paid to Boyd Group for Creative Solutions to help further its cause.</GrantOrContributionPurposeTxt>
          <Amt>2000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>Thomas &amp; Eva Fong Foundation</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>145 Jefferson Suite 700</AddressLine1Txt>
            <CityNm>San Francisco</CityNm>
            <StateAbbreviationCd>CA</StateAbbreviationCd>
            <ZIPCd>94133</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>PF</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>Paid to Thomas &amp; Eva Fong Foundation to help further its cause.</GrantOrContributionPurposeTxt>
          <Amt>1000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>Vanguard Charitable Endowment Plan</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>100 Vanguard Blvd D29</AddressLine1Txt>
            <CityNm>Malvern</CityNm>
            <StateAbbreviationCd>PA</StateAbbreviationCd>
            <ZIPCd>19355</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <GrantOrContributionPurposeTxt>Paid to Vanguard Charitable Endowment Plan to help further its cause.</GrantOrContributionPurposeTxt>
          <Amt>2000000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>INTERNATIONAL BANK FOR RECONSTRUCTION AN</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>1818 H STREET NORTHWEST</AddressLine1Txt>
            <CityNm>WASHINGTON DC</CityNm>
            <StateAbbreviationCd>DC</StateAbbreviationCd>
            <ZIPCd>20433</ZIPCd>
          </RecipientUSAddress>
          <RecipientFoundationStatusTxt>NC</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>HONDURAS SAFER MUNI PROJ - EVALUATING IMPACT OF COG. BEHAVIOR THERAPY ON YOUTH IN JOB TRAINING</GrantOrContributionPurposeTxt>
          <Amt>82000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <TotalGrantOrContriPdDurYrAmt>4085000</TotalGrantOrContriPdDurYrAmt>
      </SupplementaryInformationGrp>
      <AnalysisIncomeProducingActyGrp>
        <FeesContractsFromGovtAgGrp />
        <MembershipDuesAndAssmntGrp />
        <IntOnSavAndTempCashInvstGrp />
        <DividendsAndInterestFromSecDtl>
          <ExclusionCd>14</ExclusionCd>
          <ExclusionAmt>239358</ExclusionAmt>
        </DividendsAndInterestFromSecDtl>
        <NetRntlIncmReDebtFincdPropGrp />
        <NetRntlIncmReNotDebtFincdProp />
        <NetRentalIncomePersonalPropGrp />
        <OtherInvestmentIncomeGrp />
        <GainSalesAstOthThanInvntryGrp>
          <ExclusionCd>13</ExclusionCd>
          <ExclusionAmt>20628769</ExclusionAmt>
        </GainSalesAstOthThanInvntryGrp>
        <NetIncomeLossFromSpecialEvtGrp />
        <GrossProfitLossSlsOfInvntryGrp />
        <OtherRevenueDescribedGrp>
          <Desc>PARTNERSHIP INCOME</Desc>
          <BusinessCd>901101</BusinessCd>
          <UnrelatedBusinessTaxblIncmAmt>-26495</UnrelatedBusinessTaxblIncmAmt>
          <ExclusionCd>14</ExclusionCd>
          <ExclusionAmt>-115573</ExclusionAmt>
        </OtherRevenueDescribedGrp>
        <SubtotalsIncmProducingActyGrp>
          <UnrelatedBusinessTaxblIncmAmt>-26495</UnrelatedBusinessTaxblIncmAmt>
          <ExclusionAmt>20752554</ExclusionAmt>
        </SubtotalsIncmProducingActyGrp>
        <TotalIncomeProducingActyAmt>20726059</TotalIncomeProducingActyAmt>
      </AnalysisIncomeProducingActyGrp>
      <TrnsfrTransRlnNonchrtblEOGrp>
        <TrnsfrOfCashToNonchrtblEOInd>false</TrnsfrOfCashToNonchrtblEOInd>
        <TrnsfrOtherAssetNonchrtblEOInd>false</TrnsfrOtherAssetNonchrtblEOInd>
        <SalesOrExchangesOfAssetsInd>false</SalesOrExchangesOfAssetsInd>
        <PurchaseOfAssetsNonchrtblEOInd>false</PurchaseOfAssetsNonchrtblEOInd>
        <RentalOfFacilitiesOthAssetsInd>false</RentalOfFacilitiesOthAssetsInd>
        <ReimbursementArrangementsInd>false</ReimbursementArrangementsInd>
        <LoansOrLoanGuaranteesInd>false</LoansOrLoanGuaranteesInd>
        <PerformanceOfServicesEtcInd>false</PerformanceOfServicesEtcInd>
        <SharingOfFacilitiesEtcInd>false</SharingOfFacilitiesEtcInd>
        <RelationshipsNonchrtblEOInd>false</RelationshipsNonchrtblEOInd>
      </TrnsfrTransRlnNonchrtblEOGrp>
    </IRS990PF>
    <AccountingFeesSchedule documentId="AccountingFeesSch">
      <AccountingFeesDetail>
        <CategoryTxt>ACCOUNTING FEES</CategoryTxt>
        <Amt>70032</Amt>
        <NetInvestmentIncomeAmt>35016</NetInvestmentIncomeAmt>
        <DisbursementsCharitablePrpsAmt>35016</DisbursementsCharitablePrpsAmt>
      </AccountingFeesDetail>
    </AccountingFeesSchedule>
    <DepreciationSchedule documentId="DepreciationSch" />
    <ExpenditureResponsibilityStmt documentId="ExpdturResponbltStmt">
      <ExpenditureResponsibilityGrp>
        <BusinessName>
          <BusinessNameLine1Txt>INTERNATIONAL BANK FOR RECONSTRUCTION AN</BusinessNameLine1Txt>
        </BusinessName>
        <USAddress>
          <AddressLine1Txt>1818 H STREET NORTHWEST</AddressLine1Txt>
          <CityNm>WASHINGTON DC</CityNm>
          <StateAbbreviationCd>DC</StateAbbreviationCd>
          <ZIPCd>20433</ZIPCd>
        </USAddress>
        <GrantDt>2021-07-09</GrantDt>
        <GrantAmt>82000</GrantAmt>
        <PurposeOfGrantTxt>HONDURAS SAFER MUNI PROJ - EVALUATING IMPACT OF COG. BEHAVIOR THERAPY ON YOUTH IN JOB TRAINING</PurposeOfGrantTxt>
        <AnyDiversionByGranteeTxt>NO</AnyDiversionByGranteeTxt>
        <DatesOfReportsByGranteeTxt>05/12/2021</DatesOfReportsByGranteeTxt>
        <VerificationDt>2021-05-12</VerificationDt>
        <ResultsOfVerificationTxt>IT HAS BEEN CONFIRMED THAT ALL FUNDS THAT HAVE BEEN SPENT WERE USED FOR THE INTENDED CHARITABLE PURPOSE. CONTINUED REPORTING WILL OCCUR UNTIL ALL FUNDS ARE SPENT.</ResultsOfVerificationTxt>
      </ExpenditureResponsibilityGrp>
    </ExpenditureResponsibilityStmt>
    <InvestmentsCorpStockSchedule documentId="InvestCorpStockSch">
      <InvestmentsCorporateStockGrp>
        <StockNm>ANDREW GARRETT - EQUITY</StockNm>
        <EOYBookValueAmt>3377563</EOYBookValueAmt>
        <EOYFMVAmt>3377563</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>CETERA ADVISORS</StockNm>
        <EOYBookValueAmt>7668623</EOYBookValueAmt>
        <EOYFMVAmt>7668623</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>CHASE BROKERAGE ACCOUNT</StockNm>
        <EOYBookValueAmt>14992258</EOYBookValueAmt>
        <EOYFMVAmt>14992258</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
    </InvestmentsCorpStockSchedule>
    <OtherAssetsSchedule documentId="OtherAssetsSch">
      <OtherAssetsScheduleGrp>
        <Desc>GROSVENOR INSTITUTIONAL PTNRS</Desc>
        <BOYBookValueAmt>1693651</BOYBookValueAmt>
        <EOYBookValueAmt>1844407</EOYBookValueAmt>
        <EOYFMVAmt>1844407</EOYFMVAmt>
      </OtherAssetsScheduleGrp>
      <OtherAssetsScheduleGrp>
        <Desc>BIOTECHNOLOGY VALUE FUND LP</Desc>
        <BOYBookValueAmt>110105936</BOYBookValueAmt>
        <EOYBookValueAmt>88661031</EOYBookValueAmt>
        <EOYFMVAmt>88661031</EOYFMVAmt>
      </OtherAssetsScheduleGrp>
      <OtherAssetsScheduleGrp>
        <Desc>CRESTWOOD EQUITY PARTNERS</Desc>
        <BOYBookValueAmt>75145</BOYBookValueAmt>
        <EOYBookValueAmt>39574</EOYBookValueAmt>
        <EOYFMVAmt>39574</EOYFMVAmt>
      </OtherAssetsScheduleGrp>
      <OtherAssetsScheduleGrp>
        <Desc>INJARO AGRICULTURAL CAP. HLDG.</Desc>
        <BOYBookValueAmt>76992</BOYBookValueAmt>
        <EOYBookValueAmt>90963</EOYBookValueAmt>
        <EOYFMVAmt>90963</EOYFMVAmt>
      </OtherAssetsScheduleGrp>
      <OtherAssetsScheduleGrp>
        <Desc>GLOBAL HEALTH INVESTMENT FUND</Desc>
        <BOYBookValueAmt>409100</BOYBookValueAmt>
        <EOYBookValueAmt>257672</EOYBookValueAmt>
        <EOYFMVAmt>257672</EOYFMVAmt>
      </OtherAssetsScheduleGrp>
      <OtherAssetsScheduleGrp>
        <Desc>ANDREW GARRETT #3085</Desc>
        <BOYBookValueAmt>71344</BOYBookValueAmt>
        <EOYBookValueAmt>68384</EOYBookValueAmt>
        <EOYFMVAmt>68384</EOYFMVAmt>
      </OtherAssetsScheduleGrp>
      <OtherAssetsScheduleGrp>
        <Desc>AMBERCYCLE</Desc>
        <BOYBookValueAmt>1000000</BOYBookValueAmt>
        <EOYBookValueAmt>5519959</EOYBookValueAmt>
        <EOYFMVAmt>5519959</EOYFMVAmt>
      </OtherAssetsScheduleGrp>
      <OtherAssetsScheduleGrp>
        <Desc>PARSYL 815,416 SR SEED STOCK</Desc>
        <BOYBookValueAmt>1000000</BOYBookValueAmt>
        <EOYBookValueAmt>1000000</EOYBookValueAmt>
        <EOYFMVAmt>1000000</EOYFMVAmt>
      </OtherAssetsScheduleGrp>
      <OtherAssetsScheduleGrp>
        <Desc>PARSYL SERIES A PFD STOCK</Desc>
        <BOYBookValueAmt>601084</BOYBookValueAmt>
        <EOYBookValueAmt>601084</EOYBookValueAmt>
        <EOYFMVAmt>601084</EOYFMVAmt>
      </OtherAssetsScheduleGrp>
      <OtherAssetsScheduleGrp>
        <Desc>SUYO PUBLIC BENF CORP NOTE</Desc>
        <BOYBookValueAmt>150000</BOYBookValueAmt>
        <EOYBookValueAmt>150000</EOYBookValueAmt>
        <EOYFMVAmt>150000</EOYFMVAmt>
      </OtherAssetsScheduleGrp>
      <OtherAssetsScheduleGrp>
        <Desc>CAB TECH HOLDCO LTD</Desc>
        <BOYBookValueAmt>1000015</BOYBookValueAmt>
        <EOYBookValueAmt>1000015</EOYBookValueAmt>
        <EOYFMVAmt>1000015</EOYFMVAmt>
      </OtherAssetsScheduleGrp>
      <OtherAssetsScheduleGrp>
        <Desc>TAP TAP SEND</Desc>
        <BOYBookValueAmt>640904</BOYBookValueAmt>
        <EOYBookValueAmt>640908</EOYBookValueAmt>
        <EOYFMVAmt>640908</EOYFMVAmt>
      </OtherAssetsScheduleGrp>
      <OtherAssetsScheduleGrp>
        <Desc>ENERGY TRANSFER LP</Desc>
        <BOYBookValueAmt>129064</BOYBookValueAmt>
        <EOYBookValueAmt>172956</EOYBookValueAmt>
        <EOYFMVAmt>172956</EOYFMVAmt>
      </OtherAssetsScheduleGrp>
      <OtherAssetsScheduleGrp>
        <Desc>YBF 100 DAYS LLC</Desc>
        <BOYBookValueAmt>250000</BOYBookValueAmt>
        <EOYBookValueAmt>8607</EOYBookValueAmt>
        <EOYFMVAmt>8607</EOYFMVAmt>
      </OtherAssetsScheduleGrp>
    </OtherAssetsSchedule>
    <OtherDecreasesSchedule documentId="OtherDecreasesSch">
      <OtherDecreasesDetail>
        <Desc>UNREALIZED LOSSES</Desc>
        <Amt>12397617</Amt>
      </OtherDecreasesDetail>
    </OtherDecreasesSchedule>
    <OtherExpensesSchedule documentId="OtherExpensesSch">
      <OtherExpensesScheduleGrp>
        <Desc>BIOTECHNOLOGY VALUE FUND LP</Desc>
        <RevenueAndExpensesPerBooksAmt>130019</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>130019</NetInvestmentIncomeAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>GLOBAL HEALTH INVESTMENT FUND</Desc>
        <RevenueAndExpensesPerBooksAmt>26458</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>26458</NetInvestmentIncomeAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>GROSVENOR INSTITUTIONAL PTNRS</Desc>
        <RevenueAndExpensesPerBooksAmt>177</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>177</NetInvestmentIncomeAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>CRESTWOOD EQUITY PARTNERS</Desc>
        <RevenueAndExpensesPerBooksAmt>123</RevenueAndExpensesPerBooksAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>INJARO</Desc>
        <RevenueAndExpensesPerBooksAmt>197</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>197</NetInvestmentIncomeAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>OTHER EXPENSES</Desc>
        <RevenueAndExpensesPerBooksAmt>107383</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>107383</NetInvestmentIncomeAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>ENERGY TRANSFER LP</Desc>
        <RevenueAndExpensesPerBooksAmt>14</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>14</NetInvestmentIncomeAmt>
      </OtherExpensesScheduleGrp>
    </OtherExpensesSchedule>
    <OtherIncomeSchedule2 documentId="OtherIncomeSch2">
      <OtherIncomeDetail>
        <Desc>BIOTECHNOLOGY VALUE FUND LP</Desc>
        <RevenueAndExpensesPerBooksAmt>-116171</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>-116171</NetInvestmentIncomeAmt>
      </OtherIncomeDetail>
      <OtherIncomeDetail>
        <Desc>GROSVENOR INSTITUTIONAL PARTNERS, LP</Desc>
        <RevenueAndExpensesPerBooksAmt>10847</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>10847</NetInvestmentIncomeAmt>
      </OtherIncomeDetail>
      <OtherIncomeDetail>
        <Desc>GLOBAL HEALTH INVESTMENT FUND</Desc>
        <RevenueAndExpensesPerBooksAmt>181</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>181</NetInvestmentIncomeAmt>
      </OtherIncomeDetail>
      <OtherIncomeDetail>
        <Desc>CRESTWOOD EQUITY PARTNERS</Desc>
        <RevenueAndExpensesPerBooksAmt>-21385</RevenueAndExpensesPerBooksAmt>
      </OtherIncomeDetail>
      <OtherIncomeDetail>
        <Desc>Energy Transfer LP</Desc>
        <RevenueAndExpensesPerBooksAmt>-5110</RevenueAndExpensesPerBooksAmt>
      </OtherIncomeDetail>
      <OtherIncomeDetail>
        <Desc>YBF 100 Days LLC</Desc>
        <RevenueAndExpensesPerBooksAmt>-10430</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>-10430</NetInvestmentIncomeAmt>
      </OtherIncomeDetail>
    </OtherIncomeSchedule2>
    <OtherProfessionalFeesSchedule documentId="OthProfFeesSch">
      <OtherProfessionalFeesDetail>
        <CategoryTxt>INJARO</CategoryTxt>
        <Amt>43</Amt>
        <NetInvestmentIncomeAmt>22</NetInvestmentIncomeAmt>
        <DisbursementsCharitablePrpsAmt>22</DisbursementsCharitablePrpsAmt>
      </OtherProfessionalFeesDetail>
    </OtherProfessionalFeesSchedule>
    <TaxesSchedule documentId="TaxesSchedule">
      <TaxesDetail>
        <CategoryTxt>INCOME TAX EXPENSE</CategoryTxt>
        <Amt>271194</Amt>
      </TaxesDetail>
      <TaxesDetail>
        <CategoryTxt>FOREIGN TAXES PAID</CategoryTxt>
        <NetInvestmentIncomeAmt>1194</NetInvestmentIncomeAmt>
      </TaxesDetail>
    </TaxesSchedule>
  </ReturnData>
</Return>
