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      </SummaryOfDirectChrtblActyGrp>
      <SumOfProgramRelatedInvstGrp />
      <MinimumInvestmentReturnGrp>
        <AverageMonthlyFMVOfSecAmt>133673489</AverageMonthlyFMVOfSecAmt>
        <AverageMonthlyCashBalancesAmt>3407872</AverageMonthlyCashBalancesAmt>
        <FMVAllOtherNoncharitableAstAmt>0</FMVAllOtherNoncharitableAstAmt>
        <TotalFMVOfUnusedAssetsAmt>137081361</TotalFMVOfUnusedAssetsAmt>
        <AcquisitionIndebtednessAmt>0</AcquisitionIndebtednessAmt>
        <AdjustedTotalFMVOfUnusedAstAmt>137081361</AdjustedTotalFMVOfUnusedAstAmt>
        <CashDeemedCharitableAmt>2056220</CashDeemedCharitableAmt>
        <NetVlNoncharitableAssetsAmt>135025141</NetVlNoncharitableAssetsAmt>
        <MinimumInvestmentReturnAmt>6751257</MinimumInvestmentReturnAmt>
      </MinimumInvestmentReturnGrp>
      <DistributableAmountGrp>
        <MinimumInvestmentReturnAmt>6751257</MinimumInvestmentReturnAmt>
        <TaxBasedOnInvestmentIncomeAmt>172716</TaxBasedOnInvestmentIncomeAmt>
        <TotalTaxAmt>172716</TotalTaxAmt>
        <DistributableBeforeAdjAmt>6578541</DistributableBeforeAdjAmt>
        <DistributableBeforeDedAmt>6578541</DistributableBeforeDedAmt>
        <DistributableAsAdjustedAmt>6578541</DistributableAsAdjustedAmt>
      </DistributableAmountGrp>
      <QualifyingDistriPartXIIGrp>
        <ExpensesAndContributionsAmt>1941903</ExpensesAndContributionsAmt>
        <ProgramRelatedInvstTotalAmt>0</ProgramRelatedInvstTotalAmt>
        <CharitableAssetsAcquisPaidAmt>0</CharitableAssetsAcquisPaidAmt>
        <SetAsideSuitabilityTestAmt>0</SetAsideSuitabilityTestAmt>
        <SetAsideCashDistriTestAmt>0</SetAsideCashDistriTestAmt>
        <QualifyingDistributionsAmt>1941903</QualifyingDistributionsAmt>
        <AdjustedQualifyingDistriAmt>1941903</AdjustedQualifyingDistriAmt>
      </QualifyingDistriPartXIIGrp>
      <UndistributedIncomeGrp>
        <DistributableAsAdjustedAmt>6578541</DistributableAsAdjustedAmt>
        <UndistributedIncomePYAmt>0</UndistributedIncomePYAmt>
        <PriorYear1Yr>2015</PriorYear1Yr>
        <PriorYear2Yr>2014</PriorYear2Yr>
        <PriorYear3Yr>2013</PriorYear3Yr>
        <TotalForPriorYearsAmt>0</TotalForPriorYearsAmt>
        <ExcessDistributionCyovYr5Amt>15302644</ExcessDistributionCyovYr5Amt>
        <ExcessDistributionCyovYr4Amt>5695479</ExcessDistributionCyovYr4Amt>
        <ExcessDistributionCyovYr2Amt>32548653</ExcessDistributionCyovYr2Amt>
        <ExcessDistributionCyovYr1Amt>6848515</ExcessDistributionCyovYr1Amt>
        <TotalExcessDistributionCyovAmt>60395291</TotalExcessDistributionCyovAmt>
        <QualifyingDistributionsAmt>1941903</QualifyingDistributionsAmt>
        <AppliedToYear1Amt>0</AppliedToYear1Amt>
        <AppliedToCurrentYearAmt>1941903</AppliedToCurrentYearAmt>
        <RemainingDistriFromCorpusAmt>0</RemainingDistriFromCorpusAmt>
        <ExcessDistriCyovAppCYCorpusAmt>4636638</ExcessDistriCyovAppCYCorpusAmt>
        <ExcessDistributionCyovAppCYAmt>4636638</ExcessDistributionCyovAppCYAmt>
        <TotalCorpusAmt>55758653</TotalCorpusAmt>
        <PriorYearUndistributedIncmAmt>0</PriorYearUndistributedIncmAmt>
        <Taxable1Amt>0</Taxable1Amt>
        <Taxable2Amt>0</Taxable2Amt>
        <UndistributedIncomeCYAmt>0</UndistributedIncomeCYAmt>
        <ExcessDistriCyovFromYr5Amt>10666006</ExcessDistriCyovFromYr5Amt>
        <ExcessDistriCyovToNextYrAmt>45092647</ExcessDistriCyovToNextYrAmt>
        <ExcessFromYear4Amt>5695479</ExcessFromYear4Amt>
        <ExcessFromYear2Amt>32548653</ExcessFromYear2Amt>
        <ExcessFromYear1Amt>6848515</ExcessFromYear1Amt>
      </UndistributedIncomeGrp>
      <PrivateOperatingFoundationsGrp />
      <SupplementaryInformationGrp>
        <ContributingManagerNm>JOHN C MALONE</ContributingManagerNm>
        <ShareholderManagerNm>NONE</ShareholderManagerNm>
        <OnlyContriToPreselectedInd>X</OnlyContriToPreselectedInd>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>ARBOR SCHOOL OF CENTRAL FLORIDA</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>1010 SPRING VILLAS POINTE</AddressLine1Txt>
            <CityNm>WINTER SPRINGS</CityNm>
            <StateAbbreviationCd>FL</StateAbbreviationCd>
            <ZIPCd>32708</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>PUBLIC CHARITY</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>GENERAL GRANT</GrantOrContributionPurposeTxt>
          <Amt>70000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>COLORADO SYMPHONY ASSOCIATION</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>1001 14TH STREET</AddressLine1Txt>
            <CityNm>UNIT DENVER</CityNm>
            <StateAbbreviationCd>CO</StateAbbreviationCd>
            <ZIPCd>80202</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>PUBLIC CHARITY</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>GENERAL GRANT</GrantOrContributionPurposeTxt>
          <Amt>50000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>CRAIG HOSPITAL FOUNDATION</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>3425 S CLARKSON ST</AddressLine1Txt>
            <CityNm>ENGLEWOOD</CityNm>
            <StateAbbreviationCd>CO</StateAbbreviationCd>
            <ZIPCd>80113</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>PUBLIC CHARITY</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>GENERAL GRANT</GrantOrContributionPurposeTxt>
          <Amt>50000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>CRAIG HOSPITAL FOUNDATION</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>3425 S CLARKSON ST</AddressLine1Txt>
            <CityNm>ENGLEWOOD</CityNm>
            <StateAbbreviationCd>CO</StateAbbreviationCd>
            <ZIPCd>80113</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>PUBLIC CHARITY</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>GENERAL GRANT</GrantOrContributionPurposeTxt>
          <Amt>50000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>CRAIG HOSPITAL FOUNDATION</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>3425 S CLARKSON ST</AddressLine1Txt>
            <CityNm>ENGLEWOOD</CityNm>
            <StateAbbreviationCd>CO</StateAbbreviationCd>
            <ZIPCd>80113</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>PUBLIC CHARITY</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>GENERAL GRANT</GrantOrContributionPurposeTxt>
          <Amt>50000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>CRAIG HOSPITAL FOUNDATION</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>3425 S CLARKSON ST</AddressLine1Txt>
            <CityNm>ENGLEWOOD</CityNm>
            <StateAbbreviationCd>CO</StateAbbreviationCd>
            <ZIPCd>80113</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>PUBLIC CHARITY</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>GENERAL GRANT</GrantOrContributionPurposeTxt>
          <Amt>50000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>CRAIG HOSPITAL FOUNDATION</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>3425 S CLARKSON ST</AddressLine1Txt>
            <CityNm>ENGLEWOOD</CityNm>
            <StateAbbreviationCd>CO</StateAbbreviationCd>
            <ZIPCd>80113</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>PUBLIC CHARITY</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>GENERAL GRANT</GrantOrContributionPurposeTxt>
          <Amt>50000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>DSST PUBLIC SCHOOLS FOUNDATION</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>3401 QUEBEC STREET</AddressLine1Txt>
            <CityNm>STE DENVER</CityNm>
            <StateAbbreviationCd>CO</StateAbbreviationCd>
            <ZIPCd>80207</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>PUBLIC CHARITY</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>GENERAL GRANT</GrantOrContributionPurposeTxt>
          <Amt>50000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>INTERVENTIONAL ORTHOPEDICS FOUNDATION</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>403 SUMMIT BLVD SUITE 201</AddressLine1Txt>
            <CityNm>BROOMFIELD</CityNm>
            <StateAbbreviationCd>CO</StateAbbreviationCd>
            <ZIPCd>80021</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>PUBLIC CHARITY</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>GENERAL GRANT</GrantOrContributionPurposeTxt>
          <Amt>500000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>RIVERSTONE INTL SCHOOL</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>5521 WARM SPRINGS AVENUE</AddressLine1Txt>
            <CityNm>BOISE</CityNm>
            <StateAbbreviationCd>ID</StateAbbreviationCd>
            <ZIPCd>83716</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>PUBLIC CHARITY</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>GENERAL GRANT</GrantOrContributionPurposeTxt>
          <Amt>1000000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>VIRGINIA TECH FOUNDATION</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>902 PRICES FORK RD</AddressLine1Txt>
            <CityNm>BLACKSBURG</CityNm>
            <StateAbbreviationCd>VA</StateAbbreviationCd>
            <ZIPCd>24061</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>PUBLIC CHARITY</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>GENERAL GRANT</GrantOrContributionPurposeTxt>
          <Amt>16153</Amt>
        </GrantOrContributionPdDurYrGrp>
        <TotalGrantOrContriPdDurYrAmt>1936153</TotalGrantOrContriPdDurYrAmt>
      </SupplementaryInformationGrp>
      <AnalysisIncomeProducingActyGrp>
        <FeesContractsFromGovtAgGrp />
        <MembershipDuesAndAssmntGrp />
        <IntOnSavAndTempCashInvstGrp />
        <DivAndIntFromSecPartVIIGrp>
          <ExclusionCd>14</ExclusionCd>
          <ExclusionAmt>2361413</ExclusionAmt>
        </DivAndIntFromSecPartVIIGrp>
        <NetRntlIncmReDebtFincdPropGrp />
        <NetRntlIncmReNotDebtFincdProp />
        <NetRentalIncomePersonalPropGrp />
        <OtherInvestmentIncmPartVIIGrp />
        <GainSalesAstOthThanInvntryGrp>
          <ExclusionCd>18</ExclusionCd>
          <ExclusionAmt>7613672</ExclusionAmt>
        </GainSalesAstOthThanInvntryGrp>
        <NetIncomeLossFromSpecialEvtGrp />
        <GrossProfitLossSlsOfInvntryGrp />
        <SubtotalsIncmProducingActyGrp>
          <ExclusionAmt>9975085</ExclusionAmt>
        </SubtotalsIncmProducingActyGrp>
        <TotalIncomeProducingActyAmt>9975085</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>MARRS, SEVIER &amp; COMPANY LLC</CategoryTxt>
        <Amt>23000</Amt>
        <NetInvestmentIncomeAmt>17250</NetInvestmentIncomeAmt>
        <DisbursementsCharitablePrpsAmt>5750</DisbursementsCharitablePrpsAmt>
      </AccountingFeesDetail>
    </AccountingFeesSchedule>
    <DepreciationSchedule documentId="DepreciationSch">
      <DepreciationPropertyGrp>
        <PropertyDesc>COMPUTERS</PropertyDesc>
        <AcquiredDt>2000-02-29</AcquiredDt>
        <CostOrOtherBasisAmt>5040</CostOrOtherBasisAmt>
        <PriorYearDepreciationAmt>5040</PriorYearDepreciationAmt>
        <ComputationMethodTxt>M5</ComputationMethodTxt>
      </DepreciationPropertyGrp>
      <DepreciationPropertyGrp>
        <PropertyDesc>SOFTWARE</PropertyDesc>
        <AcquiredDt>2000-02-29</AcquiredDt>
        <CostOrOtherBasisAmt>11200</CostOrOtherBasisAmt>
        <PriorYearDepreciationAmt>11199</PriorYearDepreciationAmt>
        <ComputationMethodTxt>SL</ComputationMethodTxt>
        <LifeRt>3</LifeRt>
      </DepreciationPropertyGrp>
      <DepreciationPropertyGrp>
        <PropertyDesc>SOFTWARE</PropertyDesc>
        <AcquiredDt>2001-03-15</AcquiredDt>
        <CostOrOtherBasisAmt>1377</CostOrOtherBasisAmt>
        <PriorYearDepreciationAmt>1377</PriorYearDepreciationAmt>
        <ComputationMethodTxt>SL</ComputationMethodTxt>
        <LifeRt>3</LifeRt>
      </DepreciationPropertyGrp>
      <DepreciationPropertyGrp>
        <PropertyDesc>WEB DESIGN</PropertyDesc>
        <AcquiredDt>2001-03-15</AcquiredDt>
        <CostOrOtherBasisAmt>12000</CostOrOtherBasisAmt>
        <PriorYearDepreciationAmt>12000</PriorYearDepreciationAmt>
        <ComputationMethodTxt>SL</ComputationMethodTxt>
        <LifeRt>3</LifeRt>
      </DepreciationPropertyGrp>
      <DepreciationPropertyGrp>
        <PropertyDesc>DELL LP/MONITOR</PropertyDesc>
        <AcquiredDt>2002-06-30</AcquiredDt>
        <CostOrOtherBasisAmt>2152</CostOrOtherBasisAmt>
        <PriorYearDepreciationAmt>2152</PriorYearDepreciationAmt>
        <ComputationMethodTxt>M5</ComputationMethodTxt>
      </DepreciationPropertyGrp>
      <DepreciationPropertyGrp>
        <PropertyDesc>PRINT COPY SCAN FX</PropertyDesc>
        <AcquiredDt>2005-04-30</AcquiredDt>
        <CostOrOtherBasisAmt>393</CostOrOtherBasisAmt>
        <PriorYearDepreciationAmt>393</PriorYearDepreciationAmt>
        <ComputationMethodTxt>M5</ComputationMethodTxt>
      </DepreciationPropertyGrp>
      <DepreciationPropertyGrp>
        <PropertyDesc>DELL COMPUTER</PropertyDesc>
        <AcquiredDt>2008-10-01</AcquiredDt>
        <CostOrOtherBasisAmt>1853</CostOrOtherBasisAmt>
        <PriorYearDepreciationAmt>1853</PriorYearDepreciationAmt>
        <ComputationMethodTxt>M5</ComputationMethodTxt>
        <LifeRt>5</LifeRt>
      </DepreciationPropertyGrp>
    </DepreciationSchedule>
    <InvestmentsCorpBondsSchedule documentId="InvestCorpBondsSch">
      <InvestmentsCorporateBondsGrp>
        <BondNm>CABLEVISION SYS 7.755</BondNm>
        <EOYBookValueAmt>1251913</EOYBookValueAmt>
        <EOYFMVAmt>1265625</EOYFMVAmt>
      </InvestmentsCorporateBondsGrp>
      <InvestmentsCorporateBondsGrp>
        <BondNm>ANHEUSER-BUSCH INBEV WRLWD</BondNm>
      </InvestmentsCorporateBondsGrp>
      <InvestmentsCorporateBondsGrp>
        <BondNm>BECTON DICKINSON &amp; CO</BondNm>
      </InvestmentsCorporateBondsGrp>
      <InvestmentsCorporateBondsGrp>
        <BondNm>DOMINION RESOURCES</BondNm>
      </InvestmentsCorporateBondsGrp>
      <InvestmentsCorporateBondsGrp>
        <BondNm>ENTERGY CORP</BondNm>
      </InvestmentsCorporateBondsGrp>
      <InvestmentsCorporateBondsGrp>
        <BondNm>ITT INC</BondNm>
      </InvestmentsCorporateBondsGrp>
      <InvestmentsCorporateBondsGrp>
        <BondNm>ONEOK PARTNERS LP</BondNm>
      </InvestmentsCorporateBondsGrp>
      <InvestmentsCorporateBondsGrp>
        <BondNm>POTASH CORP SASKATCHEWAN</BondNm>
      </InvestmentsCorporateBondsGrp>
      <InvestmentsCorporateBondsGrp>
        <BondNm>TYCO ELECTRONICS GRP SA</BondNm>
      </InvestmentsCorporateBondsGrp>
    </InvestmentsCorpBondsSchedule>
    <InvestmentsCorpStockSchedule documentId="InvestCorpStockSch">
      <InvestmentsCorporateStockGrp>
        <StockNm>BATRK</StockNm>
        <EOYBookValueAmt>149207</EOYBookValueAmt>
        <EOYFMVAmt>212045</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>BATRA</StockNm>
        <EOYBookValueAmt>302504</EOYBookValueAmt>
        <EOYFMVAmt>447703</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>LBRDA</StockNm>
        <EOYBookValueAmt>1475161</EOYBookValueAmt>
        <EOYFMVAmt>4317138</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>LMCA</StockNm>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>FWONA</StockNm>
        <EOYBookValueAmt>965643</EOYBookValueAmt>
        <EOYFMVAmt>1660867</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>LBRDK</StockNm>
        <EOYBookValueAmt>3120853</EOYBookValueAmt>
        <EOYFMVAmt>5301891</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>LIONSGATE - A</StockNm>
        <EOYBookValueAmt>5228944</EOYBookValueAmt>
        <EOYFMVAmt>5181383</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>LIONSGATE - B</StockNm>
        <EOYBookValueAmt>5054131</EOYBookValueAmt>
        <EOYFMVAmt>4864155</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>LSXMA</StockNm>
        <EOYBookValueAmt>3657707</EOYBookValueAmt>
        <EOYFMVAmt>8052685</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>LBRD RIGHTS</StockNm>
        <EOYBookValueAmt>127100</EOYBookValueAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>CHEVRON</StockNm>
        <EOYBookValueAmt>4248956</EOYBookValueAmt>
        <EOYFMVAmt>4371009</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>OCCIDENTAL</StockNm>
        <EOYBookValueAmt>4149712</EOYBookValueAmt>
        <EOYFMVAmt>4070820</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>NOBLE</StockNm>
        <EOYBookValueAmt>1608433</EOYBookValueAmt>
        <EOYFMVAmt>1310426</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>SPIRIT AEROSYSTEMS</StockNm>
        <EOYBookValueAmt>1940681</EOYBookValueAmt>
        <EOYFMVAmt>2880559</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>HONEYWELL</StockNm>
        <EOYBookValueAmt>2917574</EOYBookValueAmt>
        <EOYFMVAmt>4915648</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>CBS</StockNm>
        <EOYBookValueAmt>1826640</EOYBookValueAmt>
        <EOYFMVAmt>1826640</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>LOWE'S</StockNm>
        <EOYBookValueAmt>1706986</EOYBookValueAmt>
        <EOYFMVAmt>2251007</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>WAL MART</StockNm>
        <EOYBookValueAmt>2042407</EOYBookValueAmt>
        <EOYFMVAmt>2283100</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>PEPSICO</StockNm>
        <EOYBookValueAmt>1274328</EOYBookValueAmt>
        <EOYFMVAmt>1561958</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>MEDTRONIC</StockNm>
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        <EOYFMVAmt>3085861</EOYFMVAmt>
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      <InvestmentsCorporateStockGrp>
        <StockNm>ZIMMER BIOMET</StockNm>
        <EOYBookValueAmt>1931731</EOYBookValueAmt>
        <EOYFMVAmt>2027256</EOYFMVAmt>
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      <InvestmentsCorporateStockGrp>
        <StockNm>ALLERGAN PLC</StockNm>
        <EOYBookValueAmt>1766823</EOYBookValueAmt>
        <EOYFMVAmt>1406788</EOYFMVAmt>
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      <InvestmentsCorporateStockGrp>
        <StockNm>JOHNSON &amp; JOHNSON</StockNm>
        <EOYBookValueAmt>3944543</EOYBookValueAmt>
        <EOYFMVAmt>4149684</EOYFMVAmt>
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      <InvestmentsCorporateStockGrp>
        <StockNm>PFIZER</StockNm>
        <EOYBookValueAmt>1730240</EOYBookValueAmt>
        <EOYFMVAmt>2113980</EOYFMVAmt>
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      <InvestmentsCorporateStockGrp>
        <StockNm>THERMO FISHER</StockNm>
        <EOYBookValueAmt>2120880</EOYBookValueAmt>
        <EOYFMVAmt>2079186</EOYFMVAmt>
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      <InvestmentsCorporateStockGrp>
        <StockNm>CITIGROUP</StockNm>
        <EOYBookValueAmt>3807097</EOYBookValueAmt>
        <EOYFMVAmt>4656578</EOYFMVAmt>
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      <InvestmentsCorporateStockGrp>
        <StockNm>JP MORGAN</StockNm>
        <EOYBookValueAmt>2187143</EOYBookValueAmt>
        <EOYFMVAmt>4510729</EOYFMVAmt>
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      <InvestmentsCorporateStockGrp>
        <StockNm>WELLS FARGO</StockNm>
        <EOYBookValueAmt>1796009</EOYBookValueAmt>
        <EOYFMVAmt>3464560</EOYFMVAmt>
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      <InvestmentsCorporateStockGrp>
        <StockNm>FIFTH THIRD BANCORP</StockNm>
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        <EOYFMVAmt>3922962</EOYFMVAmt>
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      <InvestmentsCorporateStockGrp>
        <StockNm>INVESCO</StockNm>
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        <EOYFMVAmt>2089723</EOYFMVAmt>
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      <InvestmentsCorporateStockGrp>
        <StockNm>AIG</StockNm>
        <EOYBookValueAmt>4061343</EOYBookValueAmt>
        <EOYFMVAmt>3920066</EOYFMVAmt>
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      <InvestmentsCorporateStockGrp>
        <StockNm>IBM</StockNm>
        <EOYBookValueAmt>4128959</EOYBookValueAmt>
        <EOYFMVAmt>3829363</EOYFMVAmt>
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      <InvestmentsCorporateStockGrp>
        <StockNm>ORACLE</StockNm>
        <EOYBookValueAmt>2464571</EOYBookValueAmt>
        <EOYFMVAmt>3580751</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>CISCO</StockNm>
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        <EOYFMVAmt>1837634</EOYFMVAmt>
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      <InvestmentsCorporateStockGrp>
        <StockNm>VERIZON COMMUNICATIONS</StockNm>
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        <EOYFMVAmt>4419920</EOYFMVAmt>
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      <InvestmentsCorporateStockGrp>
        <StockNm>T-MOBILE</StockNm>
        <EOYBookValueAmt>1358829</EOYBookValueAmt>
        <EOYFMVAmt>2080588</EOYFMVAmt>
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      <InvestmentsCorporateStockGrp>
        <StockNm>EXELON</StockNm>
        <EOYBookValueAmt>3594052</EOYBookValueAmt>
        <EOYFMVAmt>3958735</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>CROWN CASTLE</StockNm>
        <EOYBookValueAmt>138855</EOYBookValueAmt>
        <EOYFMVAmt>176506</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>ALPHABET INC</StockNm>
        <EOYBookValueAmt>769897</EOYBookValueAmt>
        <EOYFMVAmt>1790780</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>AMAZON</StockNm>
        <EOYBookValueAmt>558236</EOYBookValueAmt>
        <EOYFMVAmt>2192756</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>ALLERGAN PLC</StockNm>
        <EOYBookValueAmt>983899</EOYBookValueAmt>
        <EOYFMVAmt>605246</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>DIAGEO PLC</StockNm>
        <EOYBookValueAmt>557710</EOYBookValueAmt>
        <EOYFMVAmt>727229</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>ALIBABA GROUP HLDG</StockNm>
        <EOYBookValueAmt>540253</EOYBookValueAmt>
        <EOYFMVAmt>963022</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>FOMENTO ECONOMICO MEXICANO</StockNm>
        <EOYBookValueAmt>559272</EOYBookValueAmt>
        <EOYFMVAmt>540395</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>IBM</StockNm>
        <EOYBookValueAmt>935457</EOYBookValueAmt>
        <EOYFMVAmt>895973</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>APPLE</StockNm>
        <EOYBookValueAmt>527412</EOYBookValueAmt>
        <EOYFMVAmt>1115226</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>WALT DISNEY</StockNm>
        <EOYBookValueAmt>836369</EOYBookValueAmt>
        <EOYFMVAmt>848791</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>THERMO FISHER</StockNm>
        <EOYBookValueAmt>742432</EOYBookValueAmt>
        <EOYFMVAmt>1519040</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>NATIONAL GRID</StockNm>
        <EOYBookValueAmt>541926</EOYBookValueAmt>
        <EOYFMVAmt>502826</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>RAYTHEON</StockNm>
        <EOYBookValueAmt>974524</EOYBookValueAmt>
        <EOYFMVAmt>1653080</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>ANHEUSER BUSCH</StockNm>
        <EOYBookValueAmt>1005482</EOYBookValueAmt>
        <EOYFMVAmt>1011849</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>ROYAL DUTCH SHELL</StockNm>
        <EOYBookValueAmt>567369</EOYBookValueAmt>
        <EOYFMVAmt>688022</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>NOVARTIS AG</StockNm>
        <EOYBookValueAmt>854693</EOYBookValueAmt>
        <EOYFMVAmt>854713</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>COGNIZANT TECH</StockNm>
        <EOYBookValueAmt>626876</EOYBookValueAmt>
        <EOYFMVAmt>792938</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>DOWDUPONT</StockNm>
        <EOYBookValueAmt>868359</EOYBookValueAmt>
        <EOYFMVAmt>873869</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>BRITISH AMERICAN TOBACCO</StockNm>
        <EOYBookValueAmt>813404</EOYBookValueAmt>
        <EOYFMVAmt>857472</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>MONDELEZ INTERNATIONAL</StockNm>
        <EOYBookValueAmt>541890</EOYBookValueAmt>
        <EOYFMVAmt>552762</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>WELLS FARGO</StockNm>
        <EOYBookValueAmt>944540</EOYBookValueAmt>
        <EOYFMVAmt>1087510</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>ISHARES MSCI JAPAN</StockNm>
        <EOYBookValueAmt>1169045</EOYBookValueAmt>
        <EOYFMVAmt>1156349</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>SCHNEIDER NATIONAL</StockNm>
        <EOYBookValueAmt>561358</EOYBookValueAmt>
        <EOYFMVAmt>607471</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>BANK OF AMERICA</StockNm>
        <EOYBookValueAmt>503070</EOYBookValueAmt>
        <EOYFMVAmt>629514</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>ISHARES MSCI EURO</StockNm>
        <EOYBookValueAmt>491982</EOYBookValueAmt>
        <EOYFMVAmt>498834</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>NATIONAL OILWELL VARCO</StockNm>
        <EOYBookValueAmt>1019699</EOYBookValueAmt>
        <EOYFMVAmt>780914</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>TATA MOTORS LTD</StockNm>
        <EOYBookValueAmt>857512</EOYBookValueAmt>
        <EOYFMVAmt>826750</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>VODAPHONE</StockNm>
        <EOYBookValueAmt>850872</EOYBookValueAmt>
        <EOYFMVAmt>818714</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>SABRE</StockNm>
        <EOYBookValueAmt>859560</EOYBookValueAmt>
        <EOYFMVAmt>768750</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>SUMITOMO MITSUI</StockNm>
        <EOYBookValueAmt>1162003</EOYBookValueAmt>
        <EOYFMVAmt>1277256</EOYFMVAmt>
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      <InvestmentsCorporateStockGrp>
        <StockNm>AGCO CORP</StockNm>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>BLACKROCK</StockNm>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>CDN PAC RLWAY</StockNm>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>HANESBRANDS</StockNm>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>LYONDELLBASELL IND</StockNm>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>NOBLE</StockNm>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>NOVO NORDISK A/S</StockNm>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>PRUDENTIAL</StockNm>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>SAP SE</StockNm>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>SCHLUMBERGER</StockNm>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>UNION PACIFIC</StockNm>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>WALGREENS</StockNm>
      </InvestmentsCorporateStockGrp>
    </InvestmentsCorpStockSchedule>
    <InvestmentsOtherSchedule2 documentId="InvOtherSch2">
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>KLEINER PERKINS CAUFIELD</CategoryOrItemTxt>
        <BookValueAmt>245296</BookValueAmt>
        <EOYFMVAmt>52211</EOYFMVAmt>
      </InvestmentsOtherGrp>
    </InvestmentsOtherSchedule2>
    <LandEtcSchedule2 documentId="LandEtcSch2">
      <LandEtcGrp>
        <CategoryOrItemTxt>COMPUTERS</CategoryOrItemTxt>
        <CostOrOtherBasisAmt>5040</CostOrOtherBasisAmt>
        <AccumulatedDepreciationAmt>5040</AccumulatedDepreciationAmt>
      </LandEtcGrp>
      <LandEtcGrp>
        <CategoryOrItemTxt>SOFTWARE</CategoryOrItemTxt>
        <CostOrOtherBasisAmt>11200</CostOrOtherBasisAmt>
        <AccumulatedDepreciationAmt>11199</AccumulatedDepreciationAmt>
        <BookValueAmt>1</BookValueAmt>
      </LandEtcGrp>
      <LandEtcGrp>
        <CategoryOrItemTxt>SOFTWARE</CategoryOrItemTxt>
        <CostOrOtherBasisAmt>1377</CostOrOtherBasisAmt>
        <AccumulatedDepreciationAmt>1377</AccumulatedDepreciationAmt>
      </LandEtcGrp>
      <LandEtcGrp>
        <CategoryOrItemTxt>WEB DESIGN</CategoryOrItemTxt>
        <CostOrOtherBasisAmt>12000</CostOrOtherBasisAmt>
        <AccumulatedDepreciationAmt>12000</AccumulatedDepreciationAmt>
      </LandEtcGrp>
      <LandEtcGrp>
        <CategoryOrItemTxt>DELL LP/MONITOR</CategoryOrItemTxt>
        <CostOrOtherBasisAmt>2152</CostOrOtherBasisAmt>
        <AccumulatedDepreciationAmt>2152</AccumulatedDepreciationAmt>
      </LandEtcGrp>
      <LandEtcGrp>
        <CategoryOrItemTxt>PRINT COPY SCAN FX</CategoryOrItemTxt>
        <CostOrOtherBasisAmt>393</CostOrOtherBasisAmt>
        <AccumulatedDepreciationAmt>393</AccumulatedDepreciationAmt>
      </LandEtcGrp>
      <LandEtcGrp>
        <CategoryOrItemTxt>DELL COMPUTER</CategoryOrItemTxt>
        <CostOrOtherBasisAmt>1853</CostOrOtherBasisAmt>
        <AccumulatedDepreciationAmt>1853</AccumulatedDepreciationAmt>
      </LandEtcGrp>
    </LandEtcSchedule2>
    <OtherExpensesSchedule documentId="OtherExpensesSch">
      <OtherExpensesScheduleGrp>
        <Desc>DUES &amp; SUBSCRIPTIONS</Desc>
        <RevenueAndExpensesPerBooksAmt>780</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>780</NetInvestmentIncomeAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>INSURANCE - LIABILITY</Desc>
        <RevenueAndExpensesPerBooksAmt>2574</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>2574</NetInvestmentIncomeAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>INTERNET</Desc>
        <RevenueAndExpensesPerBooksAmt>1065</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>1065</NetInvestmentIncomeAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>ACCOUNT MANAGEMENT FEES</Desc>
        <RevenueAndExpensesPerBooksAmt>1168596</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>1168596</NetInvestmentIncomeAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>OFFICE SUPPLIES</Desc>
        <RevenueAndExpensesPerBooksAmt>229</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>229</NetInvestmentIncomeAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>TELEPHONE</Desc>
        <RevenueAndExpensesPerBooksAmt>1306</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>1306</NetInvestmentIncomeAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>POSTAGE</Desc>
        <RevenueAndExpensesPerBooksAmt>330</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>330</NetInvestmentIncomeAmt>
      </OtherExpensesScheduleGrp>
    </OtherExpensesSchedule>
    <OtherIncomeSchedule2 documentId="OtherIncomeSch2">
      <OtherIncomeDetail>
        <Desc>KKR &amp; CO LP-PASS THRU</Desc>
      </OtherIncomeDetail>
    </OtherIncomeSchedule2>
    <OtherLiabilitiesSchedule documentId="OtherLiabSch">
      <OtherLiabilitiesDetail>
        <Desc>OPTIONS</Desc>
        <BOYBookValueAmt>43487</BOYBookValueAmt>
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    </OtherLiabilitiesSchedule>
    <TaxesSchedule documentId="TaxesSchedule">
      <TaxesDetail>
        <CategoryTxt>FOREIGN TAXES PAID</CategoryTxt>
        <Amt>20333</Amt>
        <NetInvestmentIncomeAmt>20333</NetInvestmentIncomeAmt>
      </TaxesDetail>
      <TaxesDetail>
        <CategoryTxt>FEDERAL TAXES</CategoryTxt>
        <Amt>180000</Amt>
      </TaxesDetail>
    </TaxesSchedule>
  </ReturnData>
</Return>