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        <GrossProfitLossSlsOfInvntryGrp />
        <SubtotalsIncmProducingActyGrp>
          <RelatedOrExemptFunctionIncmAmt>12204752</RelatedOrExemptFunctionIncmAmt>
        </SubtotalsIncmProducingActyGrp>
        <TotalIncomeProducingActyAmt>12204752</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>
    <ContractorCompensationExpln documentId="ContractCompenExpln">
      <ContractorCompExplnGrp>
        <ContractorPersonNm>MERRION INVESTMENT MANAGEMENT</ContractorPersonNm>
        <ExplanationTxt>MANAGEMENT OF INVESTMENT ACCOUNTS</ExplanationTxt>
      </ContractorCompExplnGrp>
      <ContractorCompExplnGrp>
        <ContractorPersonNm>BECK MACK OLIVER LLC</ContractorPersonNm>
        <ExplanationTxt>MANAGEMENT OF INVESTMENT ACCOUNT</ExplanationTxt>
      </ContractorCompExplnGrp>
    </ContractorCompensationExpln>
    <DepreciationSchedule documentId="DepreciationSch">
      <DepreciationPropertyGrp>
        <PropertyDesc>DEPLETION</PropertyDesc>
      </DepreciationPropertyGrp>
    </DepreciationSchedule>
    <InvestmentsCorpBondsSchedule documentId="InvestCorpBondsSch">
      <InvestmentsCorporateBondsGrp>
        <BondNm>CORPORATE BONDS- SCHWAB-8408</BondNm>
        <EOYBookValueAmt>292125</EOYBookValueAmt>
        <EOYFMVAmt>293326</EOYFMVAmt>
      </InvestmentsCorporateBondsGrp>
    </InvestmentsCorpBondsSchedule>
    <InvestmentsCorpStockSchedule documentId="InvestCorpStockSch">
      <InvestmentsCorporateStockGrp>
        <StockNm>THRU CHARLES SCHWAB-8408</StockNm>
        <EOYBookValueAmt>17328854</EOYBookValueAmt>
        <EOYFMVAmt>35870554</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>THRU VANGUARD</StockNm>
        <EOYBookValueAmt>22954095</EOYBookValueAmt>
        <EOYFMVAmt>37858558</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>THRU CHARLES SCHWAB-3069</StockNm>
        <EOYBookValueAmt>23922211</EOYBookValueAmt>
        <EOYFMVAmt>34823426</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>THRU CHARLES SCHWAB-7101</StockNm>
        <EOYBookValueAmt>25149049</EOYBookValueAmt>
        <EOYFMVAmt>40817799</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>THRU CHARLES SCHWAB-8582</StockNm>
        <EOYBookValueAmt>278676</EOYBookValueAmt>
        <EOYFMVAmt>192524</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
    </InvestmentsCorpStockSchedule>
    <InvestmentsGovtObligationsSch documentId="InvGovtObligSch">
      <USGovtObligationsBookVlEOYAmt>2481032</USGovtObligationsBookVlEOYAmt>
      <USGovtObligationsEOYFMVAmt>2511314</USGovtObligationsEOYFMVAmt>
    </InvestmentsGovtObligationsSch>
    <InvestmentsOtherSchedule2 documentId="InvOtherSch2">
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>KEEFE BRUYETTE &amp; WOODS</CategoryOrItemTxt>
        <ListedAtCostOrFMVCd>AT COST</ListedAtCostOrFMVCd>
        <BookValueAmt>100</BookValueAmt>
        <EOYFMVAmt>100</EOYFMVAmt>
      </InvestmentsOtherGrp>
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>COMPASS ROYALTY MGMT LLC</CategoryOrItemTxt>
        <ListedAtCostOrFMVCd>AT COST</ListedAtCostOrFMVCd>
        <BookValueAmt>1867658</BookValueAmt>
        <EOYFMVAmt>1867658</EOYFMVAmt>
      </InvestmentsOtherGrp>
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>LANCO</CategoryOrItemTxt>
        <ListedAtCostOrFMVCd>AT COST</ListedAtCostOrFMVCd>
        <BookValueAmt>63</BookValueAmt>
        <EOYFMVAmt>63</EOYFMVAmt>
      </InvestmentsOtherGrp>
    </InvestmentsOtherSchedule2>
    <OtherAssetsSchedule documentId="OtherAssetsSch">
      <OtherAssetsScheduleGrp>
        <Desc>RECEIVABLE COMPASS</Desc>
        <BOYBookValueAmt>43475</BOYBookValueAmt>
        <EOYBookValueAmt>0</EOYBookValueAmt>
      </OtherAssetsScheduleGrp>
      <OtherAssetsScheduleGrp>
        <Desc>NAVIOS MARITIME PART LP</Desc>
        <BOYBookValueAmt>0</BOYBookValueAmt>
        <EOYBookValueAmt>924000</EOYBookValueAmt>
        <EOYFMVAmt>935800</EOYFMVAmt>
      </OtherAssetsScheduleGrp>
    </OtherAssetsSchedule>
    <OtherDecreasesSchedule documentId="OtherDecreasesSch">
      <OtherDecreasesDetail>
        <Desc>UNRECONCILED DIFFERENCES</Desc>
        <Amt>12045</Amt>
      </OtherDecreasesDetail>
    </OtherDecreasesSchedule>
    <OtherExpensesSchedule documentId="OtherExpensesSch">
      <OtherExpensesScheduleGrp>
        <Desc>FOUNDATION DUES</Desc>
        <RevenueAndExpensesPerBooksAmt>10400</RevenueAndExpensesPerBooksAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>BANK FEES</Desc>
        <RevenueAndExpensesPerBooksAmt>72</RevenueAndExpensesPerBooksAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>FILING FEES</Desc>
        <RevenueAndExpensesPerBooksAmt>31</RevenueAndExpensesPerBooksAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>ACCOUNTING SOFTWARE</Desc>
        <RevenueAndExpensesPerBooksAmt>464</RevenueAndExpensesPerBooksAmt>
      </OtherExpensesScheduleGrp>
    </OtherExpensesSchedule>
    <OtherIncomeSchedule2 documentId="OtherIncomeSch2">
      <OtherIncomeDetail>
        <Desc>COMPASS ROYALTIES MGMT LLC &amp; APACHE OIL</Desc>
        <RevenueAndExpensesPerBooksAmt>636350</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>636350</NetInvestmentIncomeAmt>
      </OtherIncomeDetail>
    </OtherIncomeSchedule2>
    <OtherIncreasesSchedule documentId="OtherIncreasesSch">
      <OtherIncreasesDetail>
        <Desc>UNREALIZED P&amp;L ON DONATED SECURITIES</Desc>
        <Amt>0</Amt>
      </OtherIncreasesDetail>
      <OtherIncreasesDetail>
        <Desc>SEE SCHEDULE ATTACHED</Desc>
        <Amt>5288961</Amt>
      </OtherIncreasesDetail>
    </OtherIncreasesSchedule>
    <OtherLiabilitiesSchedule documentId="OtherLiabSch">
      <OtherLiabilitiesDetail>
        <Desc>SECURITIES SOLD NOT YET PURCHA</Desc>
        <BOYBookValueAmt>655041</BOYBookValueAmt>
        <EOYBookValueAmt>1301256</EOYBookValueAmt>
      </OtherLiabilitiesDetail>
      <OtherLiabilitiesDetail>
        <Desc>SCHWAB -7101</Desc>
      </OtherLiabilitiesDetail>
    </OtherLiabilitiesSchedule>
    <OtherProfessionalFeesSchedule documentId="OthProfFeesSch">
      <OtherProfessionalFeesDetail>
        <CategoryTxt>INVESTMENT ADVISORY FEES-</CategoryTxt>
      </OtherProfessionalFeesDetail>
      <OtherProfessionalFeesDetail>
        <CategoryTxt>BECK MACK &amp; OLIVER</CategoryTxt>
        <Amt>204062</Amt>
      </OtherProfessionalFeesDetail>
      <OtherProfessionalFeesDetail>
        <CategoryTxt>MERRION</CategoryTxt>
        <Amt>214408</Amt>
      </OtherProfessionalFeesDetail>
    </OtherProfessionalFeesSchedule>
    <TaxesSchedule documentId="TaxesSchedule">
      <TaxesDetail>
        <CategoryTxt>FOREIGN TAXES</CategoryTxt>
        <Amt>30217</Amt>
        <NetInvestmentIncomeAmt>30217</NetInvestmentIncomeAmt>
      </TaxesDetail>
      <TaxesDetail>
        <CategoryTxt>FEDERAL EXCISE TAX</CategoryTxt>
        <Amt>83217</Amt>
      </TaxesDetail>
      <TaxesDetail>
        <CategoryTxt>OIL REAL ESTATE TAXES</CategoryTxt>
        <Amt>1793</Amt>
        <NetInvestmentIncomeAmt>1793</NetInvestmentIncomeAmt>
      </TaxesDetail>
    </TaxesSchedule>
  </ReturnData>
</Return>