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        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>NANTAHALA CAP MGT - HEDGE FUNDS</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <AcquiredDt>2011-06-29</AcquiredDt>
          <SoldDt>2018-01-18</SoldDt>
          <GrossSalesPriceAmt>15</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>15</CostOrOtherBasisAmt>
          <GainOrLossAmt>0</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>0</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>STONEHILL CAP MGT - HEDGE FUNDS</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <AcquiredDt>2012-12-28</AcquiredDt>
          <SoldDt>2018-03-06</SoldDt>
          <GrossSalesPriceAmt>351375</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>199699</CostOrOtherBasisAmt>
          <GainOrLossAmt>151676</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>151676</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>TENG YUE PARTNERS - HEDGE FUNDS</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <AcquiredDt>2013-06-30</AcquiredDt>
          <SoldDt>2018-06-30</SoldDt>
          <GrossSalesPriceAmt>3171019</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>1811080</CostOrOtherBasisAmt>
          <GainOrLossAmt>1359939</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>1359939</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>VR GLOBAL OFFSHORE - HEDGE FUNDS</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <AcquiredDt>2014-03-26</AcquiredDt>
          <SoldDt>2018-04-20</SoldDt>
          <GrossSalesPriceAmt>3863357</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>2421102</CostOrOtherBasisAmt>
          <GainOrLossAmt>1442255</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>1442255</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>COMPUTER &amp; PERIPHERALS</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <DepreciationAmt>4023</DepreciationAmt>
          <CostOrOtherBasisAmt>4023</CostOrOtherBasisAmt>
          <GainOrLossAmt>0</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>0</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapitalGainNetIncomeAmt>25316257</CapitalGainNetIncomeAmt>
      </CapGainsLossTxInvstIncmDetail>
      <QlfyUndSect4940eReducedTaxGrp>
        <LiableSection4942TaxInd>0</LiableSection4942TaxInd>
        <AdjustedQlfyDistriYr1Amt>8952760</AdjustedQlfyDistriYr1Amt>
        <NetVlNoncharitableAssetsYr1Amt>163840802</NetVlNoncharitableAssetsYr1Amt>
        <DistributionYr1Rt>0.054643</DistributionYr1Rt>
        <AdjustedQlfyDistriYr2Amt>9626179</AdjustedQlfyDistriYr2Amt>
        <NetVlNoncharitableAssetsYr2Amt>161523257</NetVlNoncharitableAssetsYr2Amt>
        <DistributionYr2Rt>0.059596</DistributionYr2Rt>
        <AdjustedQlfyDistriYr3Amt>8909686</AdjustedQlfyDistriYr3Amt>
        <NetVlNoncharitableAssetsYr3Amt>178619119</NetVlNoncharitableAssetsYr3Amt>
        <DistributionYr3Rt>0.049881</DistributionYr3Rt>
        <AdjustedQlfyDistriYr4Amt>8308698</AdjustedQlfyDistriYr4Amt>
        <NetVlNoncharitableAssetsYr4Amt>173265251</NetVlNoncharitableAssetsYr4Amt>
        <DistributionYr4Rt>0.047954</DistributionYr4Rt>
        <AdjustedQlfyDistriYr5Amt>7907041</AdjustedQlfyDistriYr5Amt>
        <NetVlNoncharitableAssetsYr5Amt>144376114</NetVlNoncharitableAssetsYr5Amt>
        <DistributionYr5Rt>0.054767</DistributionYr5Rt>
        <TotalDistributionRt>0.266841</TotalDistributionRt>
        <AverageDistributionRt>0.053368</AverageDistributionRt>
        <NetVlNoncharitableAssetsAmt>185696964</NetVlNoncharitableAssetsAmt>
        <AdjNetVlNoncharitableAssetsAmt>9910276</AdjNetVlNoncharitableAssetsAmt>
        <NetInvestmentIncomePctAmt>256258</NetInvestmentIncomePctAmt>
        <AdjNonchrtblNetInvstIncmPctAmt>10166534</AdjNonchrtblNetInvstIncmPctAmt>
        <QualifyingDistributionsAmt>9434483</QualifyingDistributionsAmt>
      </QlfyUndSect4940eReducedTaxGrp>
      <ExciseTaxBasedOnInvstIncmGrp>
        <InvestmentIncomeExciseTaxAmt>512517</InvestmentIncomeExciseTaxAmt>
        <TaxUnderSection511Amt>0</TaxUnderSection511Amt>
        <SubtotalAmt>512517</SubtotalAmt>
        <SubtitleATaxAmt>0</SubtitleATaxAmt>
        <TaxBasedOnInvestmentIncomeAmt>512517</TaxBasedOnInvestmentIncomeAmt>
        <EstimatedPlusOvpmtIncmTxAmt>422111</EstimatedPlusOvpmtIncmTxAmt>
        <ExtsnRequestIncomeTaxPaidAmt>200000</ExtsnRequestIncomeTaxPaidAmt>
        <BackupWithholdingWithheldAmt>0</BackupWithholdingWithheldAmt>
        <TotalPaymentsAndCreditsAmt>622111</TotalPaymentsAndCreditsAmt>
        <Form2220AttachedInd referenceDocumentId="RetDoc1192000001">X</Form2220AttachedInd>
        <EsPenaltyAmt>0</EsPenaltyAmt>
        <OverpaymentAmt>109594</OverpaymentAmt>
        <AppliedToESTaxAmt>109594</AppliedToESTaxAmt>
        <RefundAmt>0</RefundAmt>
      </ExciseTaxBasedOnInvstIncmGrp>
      <StatementsRegardingActyGrp>
        <LegislativePoliticalActyInd>0</LegislativePoliticalActyInd>
        <MoreThan100SpentInd>0</MoreThan100SpentInd>
        <Form1120POLFiledInd>0</Form1120POLFiledInd>
        <Section4955OrganizationTaxAmt>0</Section4955OrganizationTaxAmt>
        <Section4955ManagersTaxAmt>0</Section4955ManagersTaxAmt>
        <TaxReimbursedAmt>0</TaxReimbursedAmt>
        <ActivitiesNotPreviouslyRptInd>0</ActivitiesNotPreviouslyRptInd>
        <ChangesToArticlesOrBylawsInd>0</ChangesToArticlesOrBylawsInd>
        <UnrelatedBusIncmOverLimitInd>1</UnrelatedBusIncmOverLimitInd>
        <Form990TFiledInd>1</Form990TFiledInd>
        <OrganizationDissolvedEtcInd>0</OrganizationDissolvedEtcInd>
        <Section508eRqrSatisfiedInd>1</Section508eRqrSatisfiedInd>
        <AtLeast5000InAssetsInd>1</AtLeast5000InAssetsInd>
        <OrgReportOrRegisterStateCd>WI</OrgReportOrRegisterStateCd>
        <Form990PFFiledWithAttyGenInd>1</Form990PFFiledWithAttyGenInd>
        <PrivateOperatingFoundationInd>0</PrivateOperatingFoundationInd>
        <NewSubstantialContributorsInd>0</NewSubstantialContributorsInd>
        <OwnControlledEntityInd>0</OwnControlledEntityInd>
        <DonorAdvisedFundInd>0</DonorAdvisedFundInd>
        <ComplyWithPublicInspRqrInd>1</ComplyWithPublicInspRqrInd>
        <WebsiteAddressTxt>WWW.FFWS.ORG</WebsiteAddressTxt>
        <IndividualWithBooksNm>MARY GULBRANDSEN</IndividualWithBooksNm>
        <PhoneNum>6082382400</PhoneNum>
        <LocationOfBooksUSAddress>
          <AddressLine1Txt>1506 WOOD LANE</AddressLine1Txt>
          <CityNm>MADISON</CityNm>
          <StateAbbreviationCd>WI</StateAbbreviationCd>
          <ZIPCd>53705</ZIPCd>
        </LocationOfBooksUSAddress>
        <ForeignAccountsQuestionInd>0</ForeignAccountsQuestionInd>
      </StatementsRegardingActyGrp>
      <StatementsRegardingActy4720Grp>
        <SaleOrExchDisqualifiedPrsnInd>0</SaleOrExchDisqualifiedPrsnInd>
        <BrrwOrLendDisqualifiedPrsnInd>0</BrrwOrLendDisqualifiedPrsnInd>
        <FurnGoodsDisqualifiedPrsnInd>0</FurnGoodsDisqualifiedPrsnInd>
        <PayCompDisqualifiedPrsnInd>1</PayCompDisqualifiedPrsnInd>
        <TransferAstDisqualifiedPrsnInd>0</TransferAstDisqualifiedPrsnInd>
        <PaymentToGovernmentOfficialInd>0</PaymentToGovernmentOfficialInd>
        <ActsFailToQlfyAsExceptionsInd>0</ActsFailToQlfyAsExceptionsInd>
        <UncorrectedPriorActsInd>0</UncorrectedPriorActsInd>
        <UndistributedIncomePYInd>0</UndistributedIncomePYInd>
        <BusinessHoldingsInd>0</BusinessHoldingsInd>
        <JeopardyInvestmentsInd>0</JeopardyInvestmentsInd>
        <UncorrectedPYJeopardyInvstInd>0</UncorrectedPYJeopardyInvstInd>
        <InfluenceLegislationInd>0</InfluenceLegislationInd>
        <InfluenceElectionInd>0</InfluenceElectionInd>
        <GrantsToIndividualsInd>0</GrantsToIndividualsInd>
        <GrantsToOrganizationsInd>0</GrantsToOrganizationsInd>
        <NoncharitablePurposeInd>0</NoncharitablePurposeInd>
        <RcvFndsToPayPrsnlBnftCntrctInd>0</RcvFndsToPayPrsnlBnftCntrctInd>
        <PayPremiumsPrsnlBnftCntrctInd>0</PayPremiumsPrsnlBnftCntrctInd>
        <ProhibitedTaxShelterTransInd>0</ProhibitedTaxShelterTransInd>
      </StatementsRegardingActy4720Grp>
      <OfficerDirTrstKeyEmplInfoGrp>
        <OfficerDirTrstKeyEmplGrp>
          <PersonNm>JOHN P MORGRIDGE</PersonNm>
          <USAddress>
            <AddressLine1Txt>1506 WOOD LANE</AddressLine1Txt>
            <CityNm>MADISON</CityNm>
            <StateAbbreviationCd>WI</StateAbbreviationCd>
            <ZIPCd>53705</ZIPCd>
          </USAddress>
          <TitleTxt>CHAIRMAN</TitleTxt>
          <AverageHrsPerWkDevotedToPosRt>5.00</AverageHrsPerWkDevotedToPosRt>
          <CompensationAmt>0</CompensationAmt>
          <EmployeeBenefitProgramAmt>0</EmployeeBenefitProgramAmt>
          <ExpenseAccountOtherAllwncAmt>0</ExpenseAccountOtherAllwncAmt>
        </OfficerDirTrstKeyEmplGrp>
        <OfficerDirTrstKeyEmplGrp>
          <PersonNm>TASHIA F MORGRIDGE</PersonNm>
          <USAddress>
            <AddressLine1Txt>1506 WOOD LANE</AddressLine1Txt>
            <CityNm>MADISON</CityNm>
            <StateAbbreviationCd>WI</StateAbbreviationCd>
            <ZIPCd>53705</ZIPCd>
          </USAddress>
          <TitleTxt>TRUSTEE</TitleTxt>
          <AverageHrsPerWkDevotedToPosRt>5.00</AverageHrsPerWkDevotedToPosRt>
          <CompensationAmt>0</CompensationAmt>
          <EmployeeBenefitProgramAmt>0</EmployeeBenefitProgramAmt>
          <ExpenseAccountOtherAllwncAmt>0</ExpenseAccountOtherAllwncAmt>
        </OfficerDirTrstKeyEmplGrp>
        <OfficerDirTrstKeyEmplGrp>
          <PersonNm>MARY W GULBRANDSEN</PersonNm>
          <USAddress>
            <AddressLine1Txt>1506 WOOD LANE</AddressLine1Txt>
            <CityNm>MADISON</CityNm>
            <StateAbbreviationCd>WI</StateAbbreviationCd>
            <ZIPCd>53705</ZIPCd>
          </USAddress>
          <TitleTxt>EXECUTIVE DIRECTOR/SECRETA</TitleTxt>
          <AverageHrsPerWkDevotedToPosRt>40.00</AverageHrsPerWkDevotedToPosRt>
          <CompensationAmt>178589</CompensationAmt>
          <EmployeeBenefitProgramAmt>0</EmployeeBenefitProgramAmt>
          <ExpenseAccountOtherAllwncAmt>0</ExpenseAccountOtherAllwncAmt>
        </OfficerDirTrstKeyEmplGrp>
        <OfficerDirTrstKeyEmplGrp>
          <PersonNm>TED KELLNER</PersonNm>
          <USAddress>
            <AddressLine1Txt>1506 WOOD LANE</AddressLine1Txt>
            <CityNm>MADISON</CityNm>
            <StateAbbreviationCd>WI</StateAbbreviationCd>
            <ZIPCd>53705</ZIPCd>
          </USAddress>
          <TitleTxt>TREASURER</TitleTxt>
          <AverageHrsPerWkDevotedToPosRt>2.00</AverageHrsPerWkDevotedToPosRt>
          <CompensationAmt>13500</CompensationAmt>
          <EmployeeBenefitProgramAmt>0</EmployeeBenefitProgramAmt>
          <ExpenseAccountOtherAllwncAmt>0</ExpenseAccountOtherAllwncAmt>
        </OfficerDirTrstKeyEmplGrp>
        <OfficerDirTrstKeyEmplGrp>
          <PersonNm>JOHN W DANIELS JR</PersonNm>
          <USAddress>
            <AddressLine1Txt>1506 WOOD LANE</AddressLine1Txt>
            <CityNm>MADISON</CityNm>
            <StateAbbreviationCd>WI</StateAbbreviationCd>
            <ZIPCd>53705</ZIPCd>
          </USAddress>
          <TitleTxt>TRUSTEE</TitleTxt>
          <AverageHrsPerWkDevotedToPosRt>2.00</AverageHrsPerWkDevotedToPosRt>
          <CompensationAmt>13500</CompensationAmt>
          <EmployeeBenefitProgramAmt>0</EmployeeBenefitProgramAmt>
          <ExpenseAccountOtherAllwncAmt>0</ExpenseAccountOtherAllwncAmt>
        </OfficerDirTrstKeyEmplGrp>
        <OfficerDirTrstKeyEmplGrp>
          <PersonNm>DAVID WARD</PersonNm>
          <USAddress>
            <AddressLine1Txt>1506 WOOD LANE</AddressLine1Txt>
            <CityNm>MADISON</CityNm>
            <StateAbbreviationCd>WI</StateAbbreviationCd>
            <ZIPCd>53705</ZIPCd>
          </USAddress>
          <TitleTxt>VICE-CHAIR</TitleTxt>
          <AverageHrsPerWkDevotedToPosRt>2.00</AverageHrsPerWkDevotedToPosRt>
          <CompensationAmt>12000</CompensationAmt>
          <EmployeeBenefitProgramAmt>0</EmployeeBenefitProgramAmt>
          <ExpenseAccountOtherAllwncAmt>0</ExpenseAccountOtherAllwncAmt>
        </OfficerDirTrstKeyEmplGrp>
        <OfficerDirTrstKeyEmplGrp>
          <PersonNm>REBECCA SPLITT</PersonNm>
          <USAddress>
            <AddressLine1Txt>1506 WOOD LANE</AddressLine1Txt>
            <CityNm>MADISON</CityNm>
            <StateAbbreviationCd>WI</StateAbbreviationCd>
            <ZIPCd>53705</ZIPCd>
          </USAddress>
          <TitleTxt>TRUSTEE</TitleTxt>
          <AverageHrsPerWkDevotedToPosRt>2.00</AverageHrsPerWkDevotedToPosRt>
          <CompensationAmt>12000</CompensationAmt>
          <EmployeeBenefitProgramAmt>0</EmployeeBenefitProgramAmt>
          <ExpenseAccountOtherAllwncAmt>0</ExpenseAccountOtherAllwncAmt>
        </OfficerDirTrstKeyEmplGrp>
        <CompOfHghstPdEmplOrNONETxt>NONE</CompOfHghstPdEmplOrNONETxt>
        <OtherEmployeePaidOver50kCnt>0</OtherEmployeePaidOver50kCnt>
        <CompensationOfHghstPdCntrctGrp>
          <BusinessName>
            <BusinessNameLine1Txt>CORNERSTONE PARTNERS</BusinessNameLine1Txt>
          </BusinessName>
          <USAddress>
            <AddressLine1Txt>675 PETER JEFFERSON PKWY 160</AddressLine1Txt>
            <CityNm>CHARLOTTESVILLE</CityNm>
            <StateAbbreviationCd>VA</StateAbbreviationCd>
            <ZIPCd>22911</ZIPCd>
          </USAddress>
          <ServiceTypeTxt>INVESTMENT MGMT</ServiceTypeTxt>
          <CompensationAmt>373430</CompensationAmt>
        </CompensationOfHghstPdCntrctGrp>
        <CompensationOfHghstPdCntrctGrp>
          <BusinessName>
            <BusinessNameLine1Txt>GENERAL ATLANTIC INVESTMENT PARTNERS 2017 LP</BusinessNameLine1Txt>
          </BusinessName>
          <USAddress>
            <AddressLine1Txt>600 STEAMBOAT ROAD SUITE 105</AddressLine1Txt>
            <CityNm>GREENWICH</CityNm>
            <StateAbbreviationCd>CT</StateAbbreviationCd>
            <ZIPCd>06830</ZIPCd>
          </USAddress>
          <ServiceTypeTxt>INVESTMENT MGMT</ServiceTypeTxt>
          <CompensationAmt>317425</CompensationAmt>
        </CompensationOfHghstPdCntrctGrp>
        <CompensationOfHghstPdCntrctGrp>
          <BusinessName>
            <BusinessNameLine1Txt>MARQUETTE ASSOCIATES INC</BusinessNameLine1Txt>
          </BusinessName>
          <USAddress>
            <AddressLine1Txt>180 NORTH LASALLE STREET SUITE 3500</AddressLine1Txt>
            <CityNm>CHICAGO</CityNm>
            <StateAbbreviationCd>IL</StateAbbreviationCd>
            <ZIPCd>60601</ZIPCd>
          </USAddress>
          <ServiceTypeTxt>INVESTMENT MGMT</ServiceTypeTxt>
          <CompensationAmt>131250</CompensationAmt>
        </CompensationOfHghstPdCntrctGrp>
        <CompensationOfHghstPdCntrctGrp>
          <BusinessName>
            <BusinessNameLine1Txt>UW MADISON</BusinessNameLine1Txt>
          </BusinessName>
          <USAddress>
            <AddressLine1Txt>333 EAST CAMPUS MALL 10501</AddressLine1Txt>
            <CityNm>MADISON</CityNm>
            <StateAbbreviationCd>WI</StateAbbreviationCd>
            <ZIPCd>53715</ZIPCd>
          </USAddress>
          <ServiceTypeTxt>OUTSIDE CONTRACT SERVICES</ServiceTypeTxt>
          <CompensationAmt>121797</CompensationAmt>
        </CompensationOfHghstPdCntrctGrp>
        <CompensationOfHghstPdCntrctGrp>
          <BusinessName>
            <BusinessNameLine1Txt>BNY MELLON</BusinessNameLine1Txt>
          </BusinessName>
          <USAddress>
            <AddressLine1Txt>225 LIBERTY STREET</AddressLine1Txt>
            <CityNm>NEW YORK</CityNm>
            <StateAbbreviationCd>NY</StateAbbreviationCd>
            <ZIPCd>10286</ZIPCd>
          </USAddress>
          <ServiceTypeTxt>INVESTMENT MGMT</ServiceTypeTxt>
          <CompensationAmt>118355</CompensationAmt>
        </CompensationOfHghstPdCntrctGrp>
        <ContractorPaidOver50kCnt>2</ContractorPaidOver50kCnt>
      </OfficerDirTrstKeyEmplInfoGrp>
      <SumOfProgramRelatedInvstGrp>
        <TotalAmt>0</TotalAmt>
      </SumOfProgramRelatedInvstGrp>
      <MinimumInvestmentReturnGrp>
        <AverageMonthlyFMVOfSecAmt>24360172</AverageMonthlyFMVOfSecAmt>
        <AverageMonthlyCashBalancesAmt>7889047</AverageMonthlyCashBalancesAmt>
        <FMVAllOtherNoncharitableAstAmt>156275618</FMVAllOtherNoncharitableAstAmt>
        <TotalFMVOfUnusedAssetsAmt>188524837</TotalFMVOfUnusedAssetsAmt>
        <ReductionClaimedAmt>0</ReductionClaimedAmt>
        <AcquisitionIndebtednessAmt>0</AcquisitionIndebtednessAmt>
        <AdjustedTotalFMVOfUnusedAstAmt>188524837</AdjustedTotalFMVOfUnusedAstAmt>
        <CashDeemedCharitableAmt>2827873</CashDeemedCharitableAmt>
        <NetVlNoncharitableAssetsAmt>185696964</NetVlNoncharitableAssetsAmt>
        <MinimumInvestmentReturnAmt>9284848</MinimumInvestmentReturnAmt>
      </MinimumInvestmentReturnGrp>
      <DistributableAmountGrp>
        <MinimumInvestmentReturnAmt>9284848</MinimumInvestmentReturnAmt>
        <TaxBasedOnInvestmentIncomeAmt>512517</TaxBasedOnInvestmentIncomeAmt>
        <TotalTaxAmt>512517</TotalTaxAmt>
        <DistributableBeforeAdjAmt>8772331</DistributableBeforeAdjAmt>
        <RecoveriesQualfiedDistriAmt>0</RecoveriesQualfiedDistriAmt>
        <DistributableBeforeDedAmt>8772331</DistributableBeforeDedAmt>
        <DeductionFromDistributableAmt>0</DeductionFromDistributableAmt>
        <DistributableAsAdjustedAmt>8772331</DistributableAsAdjustedAmt>
      </DistributableAmountGrp>
      <QualifyingDistriPartXIIGrp>
        <ExpensesAndContributionsAmt>9434483</ExpensesAndContributionsAmt>
        <ProgramRelatedInvstTotalAmt>0</ProgramRelatedInvstTotalAmt>
        <QualifyingDistributionsAmt>9434483</QualifyingDistributionsAmt>
        <PctSect4940eOrgNetInvstIncmAmt>0</PctSect4940eOrgNetInvstIncmAmt>
        <AdjustedQualifyingDistriAmt>9434483</AdjustedQualifyingDistriAmt>
      </QualifyingDistriPartXIIGrp>
      <UndistributedIncomeGrp>
        <DistributableAsAdjustedAmt>8772331</DistributableAsAdjustedAmt>
        <UndistributedIncomePYAmt>1259139</UndistributedIncomePYAmt>
        <TotalForPriorYearsAmt>0</TotalForPriorYearsAmt>
        <TotalExcessDistributionCyovAmt>0</TotalExcessDistributionCyovAmt>
        <QualifyingDistributionsAmt>9434483</QualifyingDistributionsAmt>
        <AppliedToYear1Amt>1259139</AppliedToYear1Amt>
        <AppliedToPriorYearsAmt>0</AppliedToPriorYearsAmt>
        <TreatedAsDistriFromCorpusAmt>0</TreatedAsDistriFromCorpusAmt>
        <AppliedToCurrentYearAmt>8175344</AppliedToCurrentYearAmt>
        <RemainingDistriFromCorpusAmt>0</RemainingDistriFromCorpusAmt>
        <ExcessDistriCyovAppCYCorpusAmt>0</ExcessDistriCyovAppCYCorpusAmt>
        <ExcessDistributionCyovAppCYAmt>0</ExcessDistributionCyovAppCYAmt>
        <TotalCorpusAmt>0</TotalCorpusAmt>
        <PriorYearUndistributedIncmAmt>0</PriorYearUndistributedIncmAmt>
        <PriorYearDeficiencyOrTaxAmt>0</PriorYearDeficiencyOrTaxAmt>
        <Taxable1Amt>0</Taxable1Amt>
        <Taxable2Amt>0</Taxable2Amt>
        <UndistributedIncomeCYAmt>596987</UndistributedIncomeCYAmt>
        <CorpusDistri170b1EOr4942g3Amt>0</CorpusDistri170b1EOr4942g3Amt>
        <ExcessDistriCyovFromYr5Amt>0</ExcessDistriCyovFromYr5Amt>
        <ExcessDistriCyovToNextYrAmt>0</ExcessDistriCyovToNextYrAmt>
      </UndistributedIncomeGrp>
      <SupplementaryInformationGrp>
        <ContributingManagerNm>JOHN P MORGRIDGE</ContributingManagerNm>
        <ContributingManagerNm>TASHIA F MORGRIDGE</ContributingManagerNm>
        <OnlyContriToPreselectedInd>X</OnlyContriToPreselectedInd>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>298 INDIVIDUAL GRANT RECIPIENTS</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>VARIOUS</AddressLine1Txt>
            <CityNm>MADISON</CityNm>
            <StateAbbreviationCd>WI</StateAbbreviationCd>
            <ZIPCd>53705</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>N/A</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>GRADUATION GIFTS ($500/EACH)</GrantOrContributionPurposeTxt>
          <Amt>147591</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>UNIVERSITY OF WISCONSIN SYSTEM</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>1860 VAN HISE HALL 1220 LINDEN</AddressLine1Txt>
            <AddressLine2Txt>DRIVE</AddressLine2Txt>
            <CityNm>MADISON</CityNm>
            <StateAbbreviationCd>WI</StateAbbreviationCd>
            <ZIPCd>53706</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>PUBLIC SCHOOLS</RecipientFoundationStatusTxt>
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        <StockNm>WHIRLPOOL CORP</StockNm>
        <EOYBookValueAmt>35095</EOYBookValueAmt>
        <EOYFMVAmt>35095</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>WILLIAMS-SONOMA INC</StockNm>
        <EOYBookValueAmt>18414</EOYBookValueAmt>
        <EOYFMVAmt>18414</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>WOODWARD INC</StockNm>
        <EOYBookValueAmt>33050</EOYBookValueAmt>
        <EOYFMVAmt>33050</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>WORLD FUEL SERVICES CORP</StockNm>
        <EOYBookValueAmt>15308</EOYBookValueAmt>
        <EOYFMVAmt>15308</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
    </InvestmentsCorpStockSchedule>
    <InvestmentsOtherSchedule2 documentId="RetDoc2018100001">
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>ACACIA INST'L PARTNERS</CategoryOrItemTxt>
        <ListedAtCostOrFMVCd>FMV</ListedAtCostOrFMVCd>
        <BookValueAmt>3260010</BookValueAmt>
        <EOYFMVAmt>3260010</EOYFMVAmt>
      </InvestmentsOtherGrp>
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>ALPINE INVESTORS V</CategoryOrItemTxt>
        <ListedAtCostOrFMVCd>FMV</ListedAtCostOrFMVCd>
        <BookValueAmt>4953134</BookValueAmt>
        <EOYFMVAmt>4953134</EOYFMVAmt>
      </InvestmentsOtherGrp>
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>BLUESTEM PARTNERS</CategoryOrItemTxt>
        <ListedAtCostOrFMVCd>FMV</ListedAtCostOrFMVCd>
        <BookValueAmt>9548970</BookValueAmt>
        <EOYFMVAmt>9548970</EOYFMVAmt>
      </InvestmentsOtherGrp>
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>CEVIAN CAPITAL II</CategoryOrItemTxt>
        <ListedAtCostOrFMVCd>FMV</ListedAtCostOrFMVCd>
        <BookValueAmt>8512950</BookValueAmt>
        <EOYFMVAmt>8512950</EOYFMVAmt>
      </InvestmentsOtherGrp>
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>EMINENCE LONG</CategoryOrItemTxt>
        <ListedAtCostOrFMVCd>FMV</ListedAtCostOrFMVCd>
        <BookValueAmt>4199514</BookValueAmt>
        <EOYFMVAmt>4199514</EOYFMVAmt>
      </InvestmentsOtherGrp>
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>FEDERAL STREET ASIA E.M.</CategoryOrItemTxt>
        <ListedAtCostOrFMVCd>FMV</ListedAtCostOrFMVCd>
        <BookValueAmt>31001</BookValueAmt>
        <EOYFMVAmt>31001</EOYFMVAmt>
      </InvestmentsOtherGrp>
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>FEIN 46-0946768</CategoryOrItemTxt>
        <ListedAtCostOrFMVCd>FMV</ListedAtCostOrFMVCd>
        <BookValueAmt>7972035</BookValueAmt>
        <EOYFMVAmt>7972035</EOYFMVAmt>
      </InvestmentsOtherGrp>
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>HOUND PARTNERS LONG (GLOBAL EQUITY)</CategoryOrItemTxt>
        <ListedAtCostOrFMVCd>FMV</ListedAtCostOrFMVCd>
        <BookValueAmt>4356176</BookValueAmt>
        <EOYFMVAmt>4356176</EOYFMVAmt>
      </InvestmentsOtherGrp>
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>HOUND PARTNERS LONG (HEDGE)</CategoryOrItemTxt>
        <ListedAtCostOrFMVCd>FMV</ListedAtCostOrFMVCd>
        <BookValueAmt>2932944</BookValueAmt>
        <EOYFMVAmt>2932944</EOYFMVAmt>
      </InvestmentsOtherGrp>
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>IR&amp;M INTERMEDIATE</CategoryOrItemTxt>
        <ListedAtCostOrFMVCd>FMV</ListedAtCostOrFMVCd>
        <BookValueAmt>8006450</BookValueAmt>
        <EOYFMVAmt>8006450</EOYFMVAmt>
      </InvestmentsOtherGrp>
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>LEGACY VENTURE VI</CategoryOrItemTxt>
        <ListedAtCostOrFMVCd>FMV</ListedAtCostOrFMVCd>
        <BookValueAmt>4043435</BookValueAmt>
        <EOYFMVAmt>4043435</EOYFMVAmt>
      </InvestmentsOtherGrp>
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>LEGACY VENTURE VIII</CategoryOrItemTxt>
        <ListedAtCostOrFMVCd>FMV</ListedAtCostOrFMVCd>
        <BookValueAmt>3344565</BookValueAmt>
        <EOYFMVAmt>3344565</EOYFMVAmt>
      </InvestmentsOtherGrp>
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>MARBLE ARCH OFFSHORE PARTNERS</CategoryOrItemTxt>
        <ListedAtCostOrFMVCd>FMV</ListedAtCostOrFMVCd>
        <BookValueAmt>5977747</BookValueAmt>
        <EOYFMVAmt>5977747</EOYFMVAmt>
      </InvestmentsOtherGrp>
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>MERCED PARTNERS IV</CategoryOrItemTxt>
        <ListedAtCostOrFMVCd>FMV</ListedAtCostOrFMVCd>
        <BookValueAmt>3172370</BookValueAmt>
        <EOYFMVAmt>3172370</EOYFMVAmt>
      </InvestmentsOtherGrp>
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>MML CAPITAL PARTNERS V</CategoryOrItemTxt>
        <ListedAtCostOrFMVCd>FMV</ListedAtCostOrFMVCd>
        <BookValueAmt>275010</BookValueAmt>
        <EOYFMVAmt>275010</EOYFMVAmt>
      </InvestmentsOtherGrp>
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>PARK WEST</CategoryOrItemTxt>
        <ListedAtCostOrFMVCd>FMV</ListedAtCostOrFMVCd>
        <BookValueAmt>8025485</BookValueAmt>
        <EOYFMVAmt>8025485</EOYFMVAmt>
      </InvestmentsOtherGrp>
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>RCP SECONDARY OPPORTUNITY</CategoryOrItemTxt>
        <ListedAtCostOrFMVCd>FMV</ListedAtCostOrFMVCd>
        <BookValueAmt>989822</BookValueAmt>
        <EOYFMVAmt>989822</EOYFMVAmt>
      </InvestmentsOtherGrp>
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>REGIMENT SPECIAL SITUATIONS V</CategoryOrItemTxt>
        <ListedAtCostOrFMVCd>FMV</ListedAtCostOrFMVCd>
        <BookValueAmt>406029</BookValueAmt>
        <EOYFMVAmt>406029</EOYFMVAmt>
      </InvestmentsOtherGrp>
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>SAN FRANCISCO PARTNERS</CategoryOrItemTxt>
        <ListedAtCostOrFMVCd>FMV</ListedAtCostOrFMVCd>
        <BookValueAmt>5900523</BookValueAmt>
        <EOYFMVAmt>5900523</EOYFMVAmt>
      </InvestmentsOtherGrp>
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>SANKATY CREDIT OPPORTUNITIES V-A2</CategoryOrItemTxt>
        <ListedAtCostOrFMVCd>FMV</ListedAtCostOrFMVCd>
        <BookValueAmt>2120880</BookValueAmt>
        <EOYFMVAmt>2120880</EOYFMVAmt>
      </InvestmentsOtherGrp>
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>SRS PARTNERS</CategoryOrItemTxt>
        <ListedAtCostOrFMVCd>FMV</ListedAtCostOrFMVCd>
        <BookValueAmt>7454823</BookValueAmt>
        <EOYFMVAmt>7454823</EOYFMVAmt>
      </InvestmentsOtherGrp>
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>STEPSTONE SECONDARY OPP. II</CategoryOrItemTxt>
        <ListedAtCostOrFMVCd>FMV</ListedAtCostOrFMVCd>
        <BookValueAmt>2531583</BookValueAmt>
        <EOYFMVAmt>2531583</EOYFMVAmt>
      </InvestmentsOtherGrp>
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>STONEHILL INST'L PARTNERS</CategoryOrItemTxt>
        <ListedAtCostOrFMVCd>FMV</ListedAtCostOrFMVCd>
        <BookValueAmt>2630826</BookValueAmt>
        <EOYFMVAmt>2630826</EOYFMVAmt>
      </InvestmentsOtherGrp>
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>TENG YUE PARTNERS OFFSHORE</CategoryOrItemTxt>
        <ListedAtCostOrFMVCd>FMV</ListedAtCostOrFMVCd>
        <BookValueAmt>3095848</BookValueAmt>
        <EOYFMVAmt>3095848</EOYFMVAmt>
      </InvestmentsOtherGrp>
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>TP PARTNERS</CategoryOrItemTxt>
        <ListedAtCostOrFMVCd>FMV</ListedAtCostOrFMVCd>
        <BookValueAmt>2108514</BookValueAmt>
        <EOYFMVAmt>2108514</EOYFMVAmt>
      </InvestmentsOtherGrp>
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>VR GLOBAL OFFSHORE</CategoryOrItemTxt>
        <ListedAtCostOrFMVCd>FMV</ListedAtCostOrFMVCd>
        <BookValueAmt>3796741</BookValueAmt>
        <EOYFMVAmt>3796741</EOYFMVAmt>
      </InvestmentsOtherGrp>
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>NINE TEN PARTNERS LP</CategoryOrItemTxt>
        <ListedAtCostOrFMVCd>FMV</ListedAtCostOrFMVCd>
        <BookValueAmt>6752108</BookValueAmt>
        <EOYFMVAmt>6752108</EOYFMVAmt>
      </InvestmentsOtherGrp>
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>VANGUARD M/C GROW INDX-ADM</CategoryOrItemTxt>
        <ListedAtCostOrFMVCd>FMV</ListedAtCostOrFMVCd>
        <BookValueAmt>1563397</BookValueAmt>
        <EOYFMVAmt>1563397</EOYFMVAmt>
      </InvestmentsOtherGrp>
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>VANGUARD INST INDEX-INST</CategoryOrItemTxt>
        <ListedAtCostOrFMVCd>FMV</ListedAtCostOrFMVCd>
        <BookValueAmt>14124292</BookValueAmt>
        <EOYFMVAmt>14124292</EOYFMVAmt>
      </InvestmentsOtherGrp>
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>GQG EMERGING MARKETS</CategoryOrItemTxt>
        <ListedAtCostOrFMVCd>FMV</ListedAtCostOrFMVCd>
        <BookValueAmt>1696858</BookValueAmt>
        <EOYFMVAmt>1696858</EOYFMVAmt>
      </InvestmentsOtherGrp>
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>HARDING LOEVNER GLOBAL EQUITY</CategoryOrItemTxt>
        <ListedAtCostOrFMVCd>FMV</ListedAtCostOrFMVCd>
        <BookValueAmt>2434777</BookValueAmt>
        <EOYFMVAmt>2434777</EOYFMVAmt>
      </InvestmentsOtherGrp>
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>WELLINGTON EMERGING MARKETS</CategoryOrItemTxt>
        <ListedAtCostOrFMVCd>FMV</ListedAtCostOrFMVCd>
        <BookValueAmt>950267</BookValueAmt>
        <EOYFMVAmt>950267</EOYFMVAmt>
      </InvestmentsOtherGrp>
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>VANGUARD TOTAL INTERNATIONAL STOCK INDEX</CategoryOrItemTxt>
        <ListedAtCostOrFMVCd>FMV</ListedAtCostOrFMVCd>
        <BookValueAmt>7712902</BookValueAmt>
        <EOYFMVAmt>7712902</EOYFMVAmt>
      </InvestmentsOtherGrp>
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>CAUSEWAY INTERNATIONAL VALUE</CategoryOrItemTxt>
        <ListedAtCostOrFMVCd>FMV</ListedAtCostOrFMVCd>
        <BookValueAmt>2393181</BookValueAmt>
        <EOYFMVAmt>2393181</EOYFMVAmt>
      </InvestmentsOtherGrp>
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>HARBOR INTERNATIONAL SMALL CAP</CategoryOrItemTxt>
        <ListedAtCostOrFMVCd>FMV</ListedAtCostOrFMVCd>
        <BookValueAmt>2405394</BookValueAmt>
        <EOYFMVAmt>2405394</EOYFMVAmt>
      </InvestmentsOtherGrp>
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>VANGUARD EMERGING MARKETS</CategoryOrItemTxt>
        <ListedAtCostOrFMVCd>FMV</ListedAtCostOrFMVCd>
        <BookValueAmt>3005133</BookValueAmt>
        <EOYFMVAmt>3005133</EOYFMVAmt>
      </InvestmentsOtherGrp>
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>CENTRE LANE PARTNERS IV, LP</CategoryOrItemTxt>
        <ListedAtCostOrFMVCd>FMV</ListedAtCostOrFMVCd>
        <BookValueAmt>3571425</BookValueAmt>
        <EOYFMVAmt>3571425</EOYFMVAmt>
      </InvestmentsOtherGrp>
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>GENERAL ATLANTIC 2017 LP</CategoryOrItemTxt>
        <ListedAtCostOrFMVCd>FMV</ListedAtCostOrFMVCd>
        <BookValueAmt>3662431</BookValueAmt>
        <EOYFMVAmt>3662431</EOYFMVAmt>
      </InvestmentsOtherGrp>
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>CLARION LION PROPERTIES FUND</CategoryOrItemTxt>
        <ListedAtCostOrFMVCd>FMV</ListedAtCostOrFMVCd>
        <BookValueAmt>3555783</BookValueAmt>
        <EOYFMVAmt>3555783</EOYFMVAmt>
      </InvestmentsOtherGrp>
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>NEUBERGER BERMAN</CategoryOrItemTxt>
        <ListedAtCostOrFMVCd>FMV</ListedAtCostOrFMVCd>
        <BookValueAmt>3248278</BookValueAmt>
        <EOYFMVAmt>3248278</EOYFMVAmt>
      </InvestmentsOtherGrp>
    </InvestmentsOtherSchedule2>
    <LandEtcSchedule2 documentId="RetDoc2059000001">
      <LandEtcGrp>
        <CategoryOrItemTxt>FURNITURE</CategoryOrItemTxt>
        <CostOrOtherBasisAmt>4770</CostOrOtherBasisAmt>
        <AccumulatedDepreciationAmt>4770</AccumulatedDepreciationAmt>
        <BookValueAmt>0</BookValueAmt>
      </LandEtcGrp>
      <LandEtcGrp>
        <CategoryOrItemTxt>TABLE &amp; (4) CHAIRS</CategoryOrItemTxt>
        <CostOrOtherBasisAmt>1709</CostOrOtherBasisAmt>
        <AccumulatedDepreciationAmt>1709</AccumulatedDepreciationAmt>
        <BookValueAmt>0</BookValueAmt>
      </LandEtcGrp>
      <LandEtcGrp>
        <CategoryOrItemTxt>COMPUTER</CategoryOrItemTxt>
        <CostOrOtherBasisAmt>1160</CostOrOtherBasisAmt>
        <AccumulatedDepreciationAmt>0</AccumulatedDepreciationAmt>
        <BookValueAmt>1160</BookValueAmt>
      </LandEtcGrp>
    </LandEtcSchedule2>
    <LegalFeesSchedule documentId="RetDoc2002100001">
      <LegalFeesGrp>
        <CategoryTxt>LEGAL FEES</CategoryTxt>
        <LegalFeesAmt>2091</LegalFeesAmt>
        <NetInvestmentIncomeAmt>0</NetInvestmentIncomeAmt>
        <DisbursementsCharitablePrpsAmt>4182</DisbursementsCharitablePrpsAmt>
      </LegalFeesGrp>
    </LegalFeesSchedule>
    <OtherAssetsSchedule documentId="RetDoc2046600001">
      <OtherAssetsScheduleGrp>
        <Desc>INTEREST &amp; DIVIDENDS RECEIVABLE</Desc>
        <BOYBookValueAmt>3152</BOYBookValueAmt>
        <EOYBookValueAmt>9198</EOYBookValueAmt>
        <EOYFMVAmt>9198</EOYFMVAmt>
      </OtherAssetsScheduleGrp>
      <OtherAssetsScheduleGrp>
        <Desc>RECEIVABLE FROM BROKER FOR SECURITIES</Desc>
        <BOYBookValueAmt>1520467</BOYBookValueAmt>
        <EOYBookValueAmt>8574851</EOYBookValueAmt>
        <EOYFMVAmt>8574851</EOYFMVAmt>
      </OtherAssetsScheduleGrp>
      <OtherAssetsScheduleGrp>
        <Desc>TAX RECEIVABLE</Desc>
        <BOYBookValueAmt>259543</BOYBookValueAmt>
        <EOYBookValueAmt>71640</EOYBookValueAmt>
        <EOYFMVAmt>71640</EOYFMVAmt>
      </OtherAssetsScheduleGrp>
      <OtherAssetsScheduleGrp>
        <Desc>GRANTS AND STIPENDS TO BE RETURNED</Desc>
        <BOYBookValueAmt>4500</BOYBookValueAmt>
        <EOYBookValueAmt>17442</EOYBookValueAmt>
        <EOYFMVAmt>17442</EOYFMVAmt>
      </OtherAssetsScheduleGrp>
    </OtherAssetsSchedule>
    <OtherDecreasesSchedule documentId="RetDoc2049800001">
      <OtherDecreasesDetail>
        <Desc>NET UNREALIZED LOSS</Desc>
        <Amt>6367522</Amt>
      </OtherDecreasesDetail>
    </OtherDecreasesSchedule>
    <OtherExpensesSchedule documentId="RetDoc2003200001">
      <OtherExpensesScheduleGrp>
        <Desc>OFFICE SUPPLIES AND EXPENSE</Desc>
        <RevenueAndExpensesPerBooksAmt>7656</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>44</NetInvestmentIncomeAmt>
        <DisbursementsCharitablePrpsAmt>4977</DisbursementsCharitablePrpsAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>TELECOMMUNICATIONS</Desc>
        <RevenueAndExpensesPerBooksAmt>3548</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>177</NetInvestmentIncomeAmt>
        <DisbursementsCharitablePrpsAmt>3111</DisbursementsCharitablePrpsAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>POSTAGE &amp; SHIPPING</Desc>
        <RevenueAndExpensesPerBooksAmt>2867</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>287</NetInvestmentIncomeAmt>
        <DisbursementsCharitablePrpsAmt>2361</DisbursementsCharitablePrpsAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>INSURANCE</Desc>
        <RevenueAndExpensesPerBooksAmt>18267</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>0</NetInvestmentIncomeAmt>
        <DisbursementsCharitablePrpsAmt>18295</DisbursementsCharitablePrpsAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>MISCELLANEOUS</Desc>
        <RevenueAndExpensesPerBooksAmt>11548</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>0</NetInvestmentIncomeAmt>
        <DisbursementsCharitablePrpsAmt>11576</DisbursementsCharitablePrpsAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>DATABASE &amp; SUBSCRIPTIONS</Desc>
        <RevenueAndExpensesPerBooksAmt>5143</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>0</NetInvestmentIncomeAmt>
        <DisbursementsCharitablePrpsAmt>4911</DisbursementsCharitablePrpsAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>PORTFOLIO EXPENSES FROM K-1'S</Desc>
        <RevenueAndExpensesPerBooksAmt>0</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>963309</NetInvestmentIncomeAmt>
        <DisbursementsCharitablePrpsAmt>0</DisbursementsCharitablePrpsAmt>
      </OtherExpensesScheduleGrp>
    </OtherExpensesSchedule>
    <OtherIncomeSchedule2 documentId="RetDoc2001500001">
      <OtherIncomeDetail>
        <Desc>K-1 ACTIVITY</Desc>
        <NetInvestmentIncomeAmt>-155022</NetInvestmentIncomeAmt>
      </OtherIncomeDetail>
      <OtherIncomeDetail>
        <Desc>MISCELLANEOUS INCOME</Desc>
        <RevenueAndExpensesPerBooksAmt>367</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>367</NetInvestmentIncomeAmt>
        <AdjustedNetIncomeAmt>367</AdjustedNetIncomeAmt>
      </OtherIncomeDetail>
    </OtherIncomeSchedule2>
    <OtherLiabilitiesSchedule documentId="RetDoc2065700001">
      <OtherLiabilitiesDetail>
        <Desc>GRANT RECIPIENT GIFTS PAYABLE</Desc>
        <BOYBookValueAmt>100000</BOYBookValueAmt>
        <EOYBookValueAmt>42000</EOYBookValueAmt>
      </OtherLiabilitiesDetail>
      <OtherLiabilitiesDetail>
        <Desc>PAYABLE TO BROKER FOR SECURITIES</Desc>
        <BOYBookValueAmt>43345</BOYBookValueAmt>
        <EOYBookValueAmt>295288</EOYBookValueAmt>
      </OtherLiabilitiesDetail>
      <OtherLiabilitiesDetail>
        <Desc>TAXES PAYABLE</Desc>
        <BOYBookValueAmt>0</BOYBookValueAmt>
        <EOYBookValueAmt>90406</EOYBookValueAmt>
      </OtherLiabilitiesDetail>
    </OtherLiabilitiesSchedule>
    <OtherProfessionalFeesSchedule documentId="RetDoc2002300001">
      <OtherProfessionalFeesDetail>
        <CategoryTxt>INVESTMENT COMPANY FEES</CategoryTxt>
        <Amt>1319387</Amt>
        <NetInvestmentIncomeAmt>780483</NetInvestmentIncomeAmt>
        <DisbursementsCharitablePrpsAmt>0</DisbursementsCharitablePrpsAmt>
      </OtherProfessionalFeesDetail>
      <OtherProfessionalFeesDetail>
        <CategoryTxt>OTHER PROFESSIONAL FEES</CategoryTxt>
        <Amt>212802</Amt>
        <NetInvestmentIncomeAmt>0</NetInvestmentIncomeAmt>
        <DisbursementsCharitablePrpsAmt>194712</DisbursementsCharitablePrpsAmt>
      </OtherProfessionalFeesDetail>
    </OtherProfessionalFeesSchedule>
    <TaxesSchedule documentId="RetDoc2002500001">
      <TaxesDetail>
        <CategoryTxt>FEDERAL EXCISE AND UBI TAX</CategoryTxt>
        <Amt>512517</Amt>
        <NetInvestmentIncomeAmt>0</NetInvestmentIncomeAmt>
        <DisbursementsCharitablePrpsAmt>0</DisbursementsCharitablePrpsAmt>
      </TaxesDetail>
      <TaxesDetail>
        <CategoryTxt>FOREIGN TAXES FROM K-1'S</CategoryTxt>
        <Amt>0</Amt>
        <NetInvestmentIncomeAmt>36990</NetInvestmentIncomeAmt>
        <DisbursementsCharitablePrpsAmt>0</DisbursementsCharitablePrpsAmt>
      </TaxesDetail>
    </TaxesSchedule>
  </ReturnData>
</Return>