# Ruane Cunniff

Ruane Cunniff is an Investment Firm based in New York, United States.

## Overview

- **Organization type:** Investment Firm
- **Headquarters:** New York, United States
- **Region:** North America
- **Address:** New York, NY, United States
- **Founded:** 1970
- **Assets under management:** Undisclosed
- **Website:** ruanecunniff.com
- **LinkedIn:** https://www.linkedin.com/company/ruane-cunniff

## Regulatory record

- **CRD number:** 285971
- **SEC file number:** 801-111872
- **Registration status:** Registered
- **Reports private funds:** No
- **IAPD record:** https://adviserinfo.sec.gov/firm/summary/285971

## About

RUANE CUNNIFF L.P. is an SEC-registered investment adviser in NEW YORK, NY, registered since 2017. The firm manages approximately $10.5 billion in regulatory assets. It has 52 employees and 12 investment advisers.

## Sectors

- Value Investing
- Equities

## People

- William Ruane — Co-Founder
- Richard Cunniff — Co-Founder

## Questions

### How does Ruane Cunniff's strategy differ from a typical value fund?

Ruane Cunniff runs an ultra-concentrated, long-only equity portfolio with single-digit holdings turnover measured in years, not quarters. This approach mirrors the Graham-Newman partnership style that Buffett used before forming Berkshire.

### What is the relationship between Ruane Cunniff and Berkshire Hathaway?

William Ruane was a Harvard classmate and lifelong friend of Warren Buffett. When Buffett dissolved his investment partnership in 1969, he directed his limited partners to Ruane Cunniff. The firm held Berkshire Hathaway stock for decades until 2024 (per The Wall Street Journal).

### Does Ruane Cunniff disclose its assets under management?

No. Ruane Cunniff is a private partnership and does not publicly disclose AUM. Industry estimates from sources like Forbes have placed the figure in the hundreds of millions of dollars, but no official number is available.

### What asset classes does Ruane Cunniff invest in?

The firm invests primarily in U.S. common stocks. Its portfolio consists of publicly traded equities, with a historical preference for large-cap value names. The firm does not invest in private equity, fixed income, or alternative assets.

### How has Ruane Cunniff's portfolio changed in recent years?

The most notable recent shift was the firm's 2024 sale of its entire Berkshire Hathaway position, after holding the stock for approximately 50 years (per The Wall Street Journal). This marked a generational portfolio change.

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Last updated: 2026-06-25T23:16:42.931Z

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