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        <MinimumInvestmentReturnAmt>1732787</MinimumInvestmentReturnAmt>
      </MinimumInvestmentReturnGrp>
      <DistributableAmountGrp>
        <MinimumInvestmentReturnAmt>1732787</MinimumInvestmentReturnAmt>
        <TaxBasedOnInvestmentIncomeAmt>21221</TaxBasedOnInvestmentIncomeAmt>
        <TotalTaxAmt>21221</TotalTaxAmt>
        <DistributableBeforeAdjAmt>1711566</DistributableBeforeAdjAmt>
        <DistributableBeforeDedAmt>1711566</DistributableBeforeDedAmt>
        <DistributableAsAdjustedAmt>1711566</DistributableAsAdjustedAmt>
      </DistributableAmountGrp>
      <QualifyingDistriPartXIIGrp>
        <ExpensesAndContributionsAmt>4265801</ExpensesAndContributionsAmt>
        <ProgramRelatedInvstTotalAmt>0</ProgramRelatedInvstTotalAmt>
        <CharitableAssetsAcquisPaidAmt>0</CharitableAssetsAcquisPaidAmt>
        <SetAsideSuitabilityTestAmt>0</SetAsideSuitabilityTestAmt>
        <SetAsideCashDistriTestAmt>0</SetAsideCashDistriTestAmt>
        <QualifyingDistributionsAmt>4265801</QualifyingDistributionsAmt>
        <PctSect4940eOrgNetInvstIncmAmt>21221</PctSect4940eOrgNetInvstIncmAmt>
        <AdjustedQualifyingDistriAmt>4244580</AdjustedQualifyingDistriAmt>
      </QualifyingDistriPartXIIGrp>
      <UndistributedIncomeGrp>
        <DistributableAsAdjustedAmt>1711566</DistributableAsAdjustedAmt>
        <UndistributedIncomePYAmt>0</UndistributedIncomePYAmt>
        <PriorYear1Yr>2014</PriorYear1Yr>
        <PriorYear2Yr>2013</PriorYear2Yr>
        <PriorYear3Yr>2012</PriorYear3Yr>
        <TotalForPriorYearsAmt>0</TotalForPriorYearsAmt>
        <ExcessDistributionCyovYr5Amt>760320</ExcessDistributionCyovYr5Amt>
        <ExcessDistributionCyovYr3Amt>923713</ExcessDistributionCyovYr3Amt>
        <ExcessDistributionCyovYr2Amt>2750378</ExcessDistributionCyovYr2Amt>
        <ExcessDistributionCyovYr1Amt>2777877</ExcessDistributionCyovYr1Amt>
        <TotalExcessDistributionCyovAmt>7212288</TotalExcessDistributionCyovAmt>
        <QualifyingDistributionsAmt>4265801</QualifyingDistributionsAmt>
        <AppliedToYear1Amt>0</AppliedToYear1Amt>
        <AppliedToCurrentYearAmt>1711566</AppliedToCurrentYearAmt>
        <RemainingDistriFromCorpusAmt>2554235</RemainingDistriFromCorpusAmt>
        <TotalCorpusAmt>9766523</TotalCorpusAmt>
        <PriorYearUndistributedIncmAmt>0</PriorYearUndistributedIncmAmt>
        <Taxable1Amt>0</Taxable1Amt>
        <Taxable2Amt>0</Taxable2Amt>
        <UndistributedIncomeCYAmt>0</UndistributedIncomeCYAmt>
        <ExcessDistriCyovFromYr5Amt>760320</ExcessDistriCyovFromYr5Amt>
        <ExcessDistriCyovToNextYrAmt>9006203</ExcessDistriCyovToNextYrAmt>
        <ExcessFromYear3Amt>923713</ExcessFromYear3Amt>
        <ExcessFromYear2Amt>2750378</ExcessFromYear2Amt>
        <ExcessFromYear1Amt>2777877</ExcessFromYear1Amt>
        <ExcessFromCurrentYearAmt>2554235</ExcessFromCurrentYearAmt>
      </UndistributedIncomeGrp>
      <PrivateOperatingFoundationsGrp />
      <SupplementaryInformationGrp>
        <ContributingManagerNm>BRUCE W BENENSON</ContributingManagerNm>
        <ShareholderManagerNm>NONE</ShareholderManagerNm>
        <ApplicationSubmissionInfoGrp>
          <RecipientPersonNm>BRUCE W BENENSON</RecipientPersonNm>
          <RecipientUSAddress>
            <AddressLine1Txt>708 THIRD AVENUE</AddressLine1Txt>
            <CityNm>NEW YORK</CityNm>
            <StateAbbreviationCd>NY</StateAbbreviationCd>
            <ZIPCd>10017</ZIPCd>
          </RecipientUSAddress>
          <RecipientPhoneNum>2128670990</RecipientPhoneNum>
          <FormAndInfoAndMaterialsTxt>NO FORMAL REQUIREMENTS; AMOUNT AND PURPOSES MUST BE STATED</FormAndInfoAndMaterialsTxt>
          <SubmissionDeadlinesTxt>NONE</SubmissionDeadlinesTxt>
          <RestrictionsOnAwardsTxt>NONE</RestrictionsOnAwardsTxt>
        </ApplicationSubmissionInfoGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>VARIOUS - SEE STATEMENT</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>708 THIRD AVENUE</AddressLine1Txt>
            <CityNm>NEW YORK</CityNm>
            <StateAbbreviationCd>NY</StateAbbreviationCd>
            <ZIPCd>10017</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>NONE</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>CONTRIBUTIONS</GrantOrContributionPurposeTxt>
          <Amt>4184952</Amt>
        </GrantOrContributionPdDurYrGrp>
        <TotalGrantOrContriPdDurYrAmt>4184952</TotalGrantOrContriPdDurYrAmt>
      </SupplementaryInformationGrp>
      <AnalysisIncomeProducingActyGrp>
        <FeesContractsFromGovtAgGrp />
        <MembershipDuesAndAssmntGrp />
        <IntOnSavAndTempCashInvstGrp>
          <ExclusionAmt>111956</ExclusionAmt>
        </IntOnSavAndTempCashInvstGrp>
        <DivAndIntFromSecPartVIIGrp>
          <ExclusionAmt>445046</ExclusionAmt>
        </DivAndIntFromSecPartVIIGrp>
        <NetRntlIncmReDebtFincdPropGrp />
        <NetRntlIncmReNotDebtFincdProp />
        <NetRentalIncomePersonalPropGrp />
        <OtherInvestmentIncmPartVIIGrp>
          <ExclusionAmt>8487</ExclusionAmt>
        </OtherInvestmentIncmPartVIIGrp>
        <GainSalesAstOthThanInvntryGrp>
          <ExclusionAmt>2131587</ExclusionAmt>
        </GainSalesAstOthThanInvntryGrp>
        <NetIncomeLossFromSpecialEvtGrp />
        <GrossProfitLossSlsOfInvntryGrp />
        <OtherRevenueDescribedGrp>
          <Desc>SETTLEMENT</Desc>
          <ExclusionAmt>1373</ExclusionAmt>
        </OtherRevenueDescribedGrp>
        <SubtotalsIncmProducingActyGrp>
          <ExclusionAmt>2698449</ExclusionAmt>
        </SubtotalsIncmProducingActyGrp>
        <TotalIncomeProducingActyAmt>2698449</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>
    <IRS990ScheduleB documentId="IRS990ScheduleB">
      <Organization501c3ExemptPFInd>X</Organization501c3ExemptPFInd>
      <GeneralRuleInd>X</GeneralRuleInd>
      <ContributorInformationGrp>
        <ContributorNum>1</ContributorNum>
        <ContributorPersonNm>BW BENENSON</ContributorPersonNm>
        <ContributorUSAddress>
          <AddressLine1Txt>708 THIRD AVENUE 28TH FL</AddressLine1Txt>
          <CityNm>NEW YORK</CityNm>
          <StateAbbreviationCd>NY</StateAbbreviationCd>
          <ZIPCd>10017</ZIPCd>
        </ContributorUSAddress>
        <TotalContributionsAmt>2000000</TotalContributionsAmt>
        <PersonContributionInd>X</PersonContributionInd>
      </ContributorInformationGrp>
    </IRS990ScheduleB>
    <DepreciationSchedule documentId="DepreciationSch" />
    <InvestmentsCorpBondsSchedule documentId="InvestCorpBondsSch">
      <InvestmentsCorporateBondsGrp>
        <BondNm>NEUBERGER BERMAN - SEE STMT.</BondNm>
        <EOYBookValueAmt>3922679</EOYBookValueAmt>
        <EOYFMVAmt>3869068</EOYFMVAmt>
      </InvestmentsCorporateBondsGrp>
    </InvestmentsCorpBondsSchedule>
    <InvestmentsCorpStockSchedule documentId="InvestCorpStockSch">
      <InvestmentsCorporateStockGrp>
        <StockNm>NEUBERGER BERMAN - SEE STMT.</StockNm>
        <EOYBookValueAmt>13661763</EOYBookValueAmt>
        <EOYFMVAmt>20986299</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
    </InvestmentsCorpStockSchedule>
    <InvestmentsGovtObligationsSch documentId="InvGovtObligSch">
      <USGovtObligationsBookVlEOYAmt>2332155</USGovtObligationsBookVlEOYAmt>
      <USGovtObligationsEOYFMVAmt>2307911</USGovtObligationsEOYFMVAmt>
    </InvestmentsGovtObligationsSch>
    <InvestmentsOtherSchedule2 documentId="InvOtherSch2">
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>JP MORGAN PTN GLOBAL INVESTORS</CategoryOrItemTxt>
        <BookValueAmt>7726</BookValueAmt>
        <EOYFMVAmt>7726</EOYFMVAmt>
      </InvestmentsOtherGrp>
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>QUELLOS STRATEG PNR II LTD</CategoryOrItemTxt>
        <BookValueAmt>0</BookValueAmt>
        <EOYFMVAmt>0</EOYFMVAmt>
      </InvestmentsOtherGrp>
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>AIG EUROPEAN REAL ESTATE</CategoryOrItemTxt>
        <BookValueAmt>100324</BookValueAmt>
        <EOYFMVAmt>100324</EOYFMVAmt>
      </InvestmentsOtherGrp>
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>KS INTERNATIONAL</CategoryOrItemTxt>
        <BookValueAmt>0</BookValueAmt>
        <EOYFMVAmt>0</EOYFMVAmt>
      </InvestmentsOtherGrp>
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>MTGE. BACKED SECURITY</CategoryOrItemTxt>
        <BookValueAmt>1761474</BookValueAmt>
        <EOYFMVAmt>1746620</EOYFMVAmt>
      </InvestmentsOtherGrp>
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>PROVIDENCE MBS OFFSHORE FD</CategoryOrItemTxt>
        <BookValueAmt>0</BookValueAmt>
        <EOYFMVAmt>0</EOYFMVAmt>
      </InvestmentsOtherGrp>
    </InvestmentsOtherSchedule2>
    <OtherAssetsSchedule documentId="OtherAssetsSch">
      <OtherAssetsScheduleGrp>
        <Desc>CASH IN NEUBERGER AND BERMAN</Desc>
        <BOYBookValueAmt>1720254</BOYBookValueAmt>
        <EOYBookValueAmt>2625023</EOYBookValueAmt>
        <EOYFMVAmt>2625023</EOYFMVAmt>
      </OtherAssetsScheduleGrp>
      <OtherAssetsScheduleGrp>
        <Desc>CASH IN J.P. MORGAN</Desc>
        <BOYBookValueAmt>25928</BOYBookValueAmt>
        <EOYBookValueAmt>25970</EOYBookValueAmt>
        <EOYFMVAmt>25970</EOYFMVAmt>
      </OtherAssetsScheduleGrp>
      <OtherAssetsScheduleGrp>
        <Desc>CASH IN WACHOVIA/WELLS FARGO</Desc>
        <BOYBookValueAmt>185552</BOYBookValueAmt>
        <EOYBookValueAmt>102482</EOYBookValueAmt>
        <EOYFMVAmt>102482</EOYFMVAmt>
      </OtherAssetsScheduleGrp>
    </OtherAssetsSchedule>
    <OtherDecreasesSchedule documentId="OtherDecreasesSch">
      <OtherDecreasesDetail>
        <Desc>NONDEDUCTIBLE EXPENSE - AIG EUROPEAN RE</Desc>
        <Amt>53490</Amt>
      </OtherDecreasesDetail>
    </OtherDecreasesSchedule>
    <OtherExpensesSchedule documentId="OtherExpensesSch">
      <OtherExpensesScheduleGrp>
        <Desc>LICENCES, PERMITS, FEES</Desc>
        <RevenueAndExpensesPerBooksAmt>775</RevenueAndExpensesPerBooksAmt>
        <DisbursementsCharitablePrpsAmt>775</DisbursementsCharitablePrpsAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>INVESTMENT EXPENSES</Desc>
        <RevenueAndExpensesPerBooksAmt>239344</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>239344</NetInvestmentIncomeAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>MISCEILANEOUS EXPENSES</Desc>
        <RevenueAndExpensesPerBooksAmt>325</RevenueAndExpensesPerBooksAmt>
        <DisbursementsCharitablePrpsAmt>325</DisbursementsCharitablePrpsAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>MANAGEMENT EXPENSE</Desc>
        <RevenueAndExpensesPerBooksAmt>250000</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>250000</NetInvestmentIncomeAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>DIVIDEND CHARGES</Desc>
        <RevenueAndExpensesPerBooksAmt>146</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>146</NetInvestmentIncomeAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>PTN EXPENSE - MISC 2% EXPENSES</Desc>
        <RevenueAndExpensesPerBooksAmt>1173</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>1173</NetInvestmentIncomeAmt>
      </OtherExpensesScheduleGrp>
    </OtherExpensesSchedule>
    <OtherIncomeSchedule2 documentId="OtherIncomeSch2">
      <OtherIncomeDetail>
        <Desc>INT. INCOME-AIG EUROPEAN RE PTNRS LP</Desc>
        <RevenueAndExpensesPerBooksAmt>8456</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>8456</NetInvestmentIncomeAmt>
      </OtherIncomeDetail>
      <OtherIncomeDetail>
        <Desc>INT. INCOME-JP MORGAN PTN. GLOBAI INVEST</Desc>
        <RevenueAndExpensesPerBooksAmt>5</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>5</NetInvestmentIncomeAmt>
      </OtherIncomeDetail>
      <OtherIncomeDetail>
        <Desc>PTN INCOME-AIG EUROPEAN RE PTNRS LP</Desc>
        <RevenueAndExpensesPerBooksAmt>25</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>25</NetInvestmentIncomeAmt>
      </OtherIncomeDetail>
      <OtherIncomeDetail>
        <Desc>SETTLEMENT</Desc>
        <RevenueAndExpensesPerBooksAmt>1374</RevenueAndExpensesPerBooksAmt>
      </OtherIncomeDetail>
    </OtherIncomeSchedule2>
    <OtherIncreasesSchedule documentId="OtherIncreasesSch">
      <OtherIncreasesDetail>
        <Desc>NONTAXABLE INCOME FROM PASSTHRU ENTITY</Desc>
        <Amt>45324</Amt>
      </OtherIncreasesDetail>
    </OtherIncreasesSchedule>
    <OtherLiabilitiesSchedule documentId="OtherLiabSch">
      <OtherLiabilitiesDetail>
        <Desc>INVESTMENT - QUELLOS STRATEGY PNR II LTD</Desc>
        <BOYBookValueAmt>0</BOYBookValueAmt>
        <EOYBookValueAmt>325000</EOYBookValueAmt>
      </OtherLiabilitiesDetail>
      <OtherLiabilitiesDetail>
        <Desc>INVESTMENT - KS INTERNATIONAL</Desc>
        <BOYBookValueAmt>0</BOYBookValueAmt>
        <EOYBookValueAmt>652198</EOYBookValueAmt>
      </OtherLiabilitiesDetail>
      <OtherLiabilitiesDetail>
        <Desc>INVESTMENT - PROVIDENCE MBS OFFSHORE FD</Desc>
        <BOYBookValueAmt>0</BOYBookValueAmt>
        <EOYBookValueAmt>851292</EOYBookValueAmt>
      </OtherLiabilitiesDetail>
    </OtherLiabilitiesSchedule>
    <TaxesSchedule documentId="TaxesSchedule">
      <TaxesDetail>
        <CategoryTxt>FOREIGN INCOME TAXES</CategoryTxt>
        <Amt>2483</Amt>
        <NetInvestmentIncomeAmt>2483</NetInvestmentIncomeAmt>
      </TaxesDetail>
      <TaxesDetail>
        <CategoryTxt>FEDERAL INCOME TAX</CategoryTxt>
        <Amt>21000</Amt>
        <NetInvestmentIncomeAmt>2100</NetInvestmentIncomeAmt>
      </TaxesDetail>
    </TaxesSchedule>
  </ReturnData>
</Return>