<?xml version="1.0" encoding="utf-8"?>
<Return xmlns="http://www.irs.gov/efile" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" xsi:schemaLocation="http://www.irs.gov/efile" returnVersion="2022v5.0">
  <ReturnHeader binaryAttachmentCnt="0">
    <ReturnTs>2023-11-09T10:11:41-06:00</ReturnTs>
    <TaxPeriodEndDt>2022-12-31</TaxPeriodEndDt>
    <PreparerFirmGrp>
      <PreparerFirmEIN>134986540</PreparerFirmEIN>
      <PreparerFirmName>
        <BusinessNameLine1Txt>Carter Ledyard &amp; Milburn LLP</BusinessNameLine1Txt>
      </PreparerFirmName>
      <PreparerUSAddress>
        <AddressLine1Txt>28 Liberty St</AddressLine1Txt>
        <CityNm>New York</CityNm>
        <StateAbbreviationCd>NY</StateAbbreviationCd>
        <ZIPCd>10005</ZIPCd>
      </PreparerUSAddress>
    </PreparerFirmGrp>
    <ReturnTypeCd>990PF</ReturnTypeCd>
    <TaxPeriodBeginDt>2022-01-01</TaxPeriodBeginDt>
    <Filer>
      <EIN>133091620</EIN>
      <BusinessName>
        <BusinessNameLine1Txt>Bat Hanadiv Foundation No 3</BusinessNameLine1Txt>
      </BusinessName>
      <BusinessNameControlTxt>BATH</BusinessNameControlTxt>
      <PhoneNum>2127323200</PhoneNum>
      <USAddress>
        <AddressLine1Txt>Carter Ledyard 28 Liberty St</AddressLine1Txt>
        <CityNm>New York</CityNm>
        <StateAbbreviationCd>NY</StateAbbreviationCd>
        <ZIPCd>10005</ZIPCd>
      </USAddress>
    </Filer>
    <BusinessOfficerGrp>
      <PersonNm>Barbara Patterson</PersonNm>
      <PersonTitleTxt>Agent</PersonTitleTxt>
      <PhoneNum>4414059872</PhoneNum>
      <SignatureDt>2023-10-25</SignatureDt>
      <DiscussWithPaidPreparerInd>1</DiscussWithPaidPreparerInd>
    </BusinessOfficerGrp>
    <SigningOfficerGrp>
      <PersonFullName>
        <PersonFirstNm>Barbara</PersonFirstNm>
        <PersonLastNm>Patterson</PersonLastNm>
      </PersonFullName>
      <SSN>999009999</SSN>
    </SigningOfficerGrp>
    <IRSResponsiblePrtyInfoCurrInd>1</IRSResponsiblePrtyInfoCurrInd>
    <PreparerPersonGrp>
      <PreparerPersonNm>Denise A Dixon</PreparerPersonNm>
      <PTIN>P01374700</PTIN>
      <PhoneNum>2127323200</PhoneNum>
    </PreparerPersonGrp>
    <AdditionalFilerInformation>
      <TrustedCustomerGrp>
        <TrustedCustomerCd>2</TrustedCustomerCd>
        <AuthenticationAssuranceLevelCd>AAL1</AuthenticationAssuranceLevelCd>
        <IdentityAssuranceLevelCd>IAL1</IdentityAssuranceLevelCd>
      </TrustedCustomerGrp>
    </AdditionalFilerInformation>
    <TaxYr>2022</TaxYr>
    <BuildTS>2023-04-26 12:10:37Z</BuildTS>
  </ReturnHeader>
  <ReturnData documentCnt="10">
    <IRS990PF documentId="RetDoc1235000001">
      <ForeignOrganizationInd>X</ForeignOrganizationInd>
      <ForeignOrgMeeting85PctTestInd>X</ForeignOrgMeeting85PctTestInd>
      <Organization501c3ExemptPFInd>X</Organization501c3ExemptPFInd>
      <FMVAssetsEOYAmt>1505539049</FMVAssetsEOYAmt>
      <MethodOfAccountingAccrualInd>X</MethodOfAccountingAccrualInd>
      <AnalysisOfRevenueAndExpenses>
        <ScheduleBNotRequiredInd>X</ScheduleBNotRequiredInd>
        <DividendsRevAndExpnssAmt>9071991</DividendsRevAndExpnssAmt>
        <DividendsNetInvstIncmAmt>227436</DividendsNetInvstIncmAmt>
        <NetGainSaleAstRevAndExpnssAmt>-31451</NetGainSaleAstRevAndExpnssAmt>
        <GrossSalesPriceAmt>462744138</GrossSalesPriceAmt>
        <CapGainNetIncmNetInvstIncmAmt>0</CapGainNetIncmNetInvstIncmAmt>
        <TotalRevAndExpnssAmt>9040540</TotalRevAndExpnssAmt>
        <TotalNetInvstIncmAmt>227436</TotalNetInvstIncmAmt>
        <CompOfcrDirTrstRevAndExpnssAmt>774517</CompOfcrDirTrstRevAndExpnssAmt>
        <CompOfcrDirTrstDsbrsChrtblAmt>691470</CompOfcrDirTrstDsbrsChrtblAmt>
        <LegalFeesRevAndExpnssAmt referenceDocumentId="RetDoc2002100001">2000</LegalFeesRevAndExpnssAmt>
        <LegalFeesDsbrsChrtblAmt>2000</LegalFeesDsbrsChrtblAmt>
        <AccountingFeesRevAndExpnssAmt referenceDocumentId="RetDoc2002200001">43290</AccountingFeesRevAndExpnssAmt>
        <AccountingFeesChrtblPrpsAmt>43290</AccountingFeesChrtblPrpsAmt>
        <OtherProfFeesRevAndExpnssAmt referenceDocumentId="RetDoc2002300001">13179399</OtherProfFeesRevAndExpnssAmt>
        <OtherProfFeesDsbrsChrtblAmt>6194805</OtherProfFeesDsbrsChrtblAmt>
        <TaxesRevAndExpnssAmt referenceDocumentId="RetDoc2002500001">3750</TaxesRevAndExpnssAmt>
        <TaxesDsbrsChrtblAmt>0</TaxesDsbrsChrtblAmt>
        <OtherExpensesRevAndExpnssAmt referenceDocumentId="RetDoc2003200001">294230</OtherExpensesRevAndExpnssAmt>
        <OtherExpensesDsbrsChrtblAmt>65379</OtherExpensesDsbrsChrtblAmt>
        <TotOprExpensesRevAndExpnssAmt>14297186</TotOprExpensesRevAndExpnssAmt>
        <TotOprExpensesNetInvstIncmAmt>0</TotOprExpensesNetInvstIncmAmt>
        <TotOprExpensesDsbrsChrtblAmt>6996944</TotOprExpensesDsbrsChrtblAmt>
        <ContriPaidRevAndExpnssAmt>23211610</ContriPaidRevAndExpnssAmt>
        <ContriPaidDsbrsChrtblAmt>23353509</ContriPaidDsbrsChrtblAmt>
        <TotalExpensesRevAndExpnssAmt>37508796</TotalExpensesRevAndExpnssAmt>
        <TotalExpensesNetInvstIncmAmt>0</TotalExpensesNetInvstIncmAmt>
        <TotalExpensesDsbrsChrtblAmt>30350453</TotalExpensesDsbrsChrtblAmt>
        <ExcessRevenueOverExpensesAmt>-28468256</ExcessRevenueOverExpensesAmt>
        <NetInvestmentIncomeAmt>227436</NetInvestmentIncomeAmt>
      </AnalysisOfRevenueAndExpenses>
      <Form990PFBalanceSheetsGrp>
        <CashBOYAmt>98583053</CashBOYAmt>
        <CashEOYAmt>145251119</CashEOYAmt>
        <CashEOYFMVAmt>145251119</CashEOYFMVAmt>
        <AcctRcvblAmt>75375</AcctRcvblAmt>
        <AcctRcvblBOYAmt>110129</AcctRcvblBOYAmt>
        <AcctRcvblEOYAmt>75375</AcctRcvblEOYAmt>
        <AcctRcvblEOYFMVAmt>75375</AcctRcvblEOYFMVAmt>
        <CorporateStockBOYAmt>428120639</CorporateStockBOYAmt>
        <CorporateStockEOYAmt referenceDocumentId="RetDoc2018900001">189899087</CorporateStockEOYAmt>
        <CorporateStockEOYFMVAmt>189899087</CorporateStockEOYFMVAmt>
        <CorporateBondsBOYAmt>2123088</CorporateBondsBOYAmt>
        <CorporateBondsEOYAmt>0</CorporateBondsEOYAmt>
        <CorporateBondsEOYFMVAmt>0</CorporateBondsEOYFMVAmt>
        <OtherInvestmentsBOYAmt>1253399516</OtherInvestmentsBOYAmt>
        <OtherInvestmentsEOYAmt referenceDocumentId="RetDoc2018100001">1118246548</OtherInvestmentsEOYAmt>
        <OtherInvestmentsEOYFMVAmt>1118246548</OtherInvestmentsEOYFMVAmt>
        <OtherAssetsBOYAmt referenceDocumentId="RetDoc2046600001">38732139</OtherAssetsBOYAmt>
        <OtherAssetsEOYAmt referenceDocumentId="RetDoc2046600001">52066920</OtherAssetsEOYAmt>
        <OtherAssetsEOYFMVAmt referenceDocumentId="RetDoc2046600001">52066920</OtherAssetsEOYFMVAmt>
        <TotalAssetsBOYAmt>1821068564</TotalAssetsBOYAmt>
        <TotalAssetsEOYAmt>1505539049</TotalAssetsEOYAmt>
        <TotalAssetsEOYFMVAmt>1505539049</TotalAssetsEOYFMVAmt>
        <AccountsPayableBOYAmt>4365464</AccountsPayableBOYAmt>
        <AccountsPayableEOYAmt>3023910</AccountsPayableEOYAmt>
        <TotalLiabilitiesBOYAmt>4365464</TotalLiabilitiesBOYAmt>
        <TotalLiabilitiesEOYAmt>3023910</TotalLiabilitiesEOYAmt>
        <OrgDoesNotFollowFASB117Ind>X</OrgDoesNotFollowFASB117Ind>
        <CapitalStockBOYAmt>1816703100</CapitalStockBOYAmt>
        <CapitalStockEOYAmt>1502515139</CapitalStockEOYAmt>
        <AdditionalPaidInCapitalBOYAmt>0</AdditionalPaidInCapitalBOYAmt>
        <AdditionalPaidInCapitalEOYAmt>0</AdditionalPaidInCapitalEOYAmt>
        <RetainedEarningBOYAmt>0</RetainedEarningBOYAmt>
        <RetainedEarningEOYAmt>0</RetainedEarningEOYAmt>
        <TotNetAstOrFundBalancesBOYAmt>1816703100</TotNetAstOrFundBalancesBOYAmt>
        <TotNetAstOrFundBalancesEOYAmt>1502515139</TotNetAstOrFundBalancesEOYAmt>
        <TotalLiabilitiesNetAstBOYAmt>1821068564</TotalLiabilitiesNetAstBOYAmt>
        <TotalLiabilitiesNetAstEOYAmt>1505539049</TotalLiabilitiesNetAstEOYAmt>
      </Form990PFBalanceSheetsGrp>
      <ChgInNetAssetsFundBalancesGrp>
        <TotNetAstOrFundBalancesBOYAmt>1816703100</TotNetAstOrFundBalancesBOYAmt>
        <ExcessRevenueOverExpensesAmt>-28468256</ExcessRevenueOverExpensesAmt>
        <OtherIncreasesAmt>0</OtherIncreasesAmt>
        <SubtotalAmt>1788234844</SubtotalAmt>
        <OtherDecreasesAmt referenceDocumentId="RetDoc2049800001">285719705</OtherDecreasesAmt>
        <TotNetAstOrFundBalancesEOYAmt>1502515139</TotNetAstOrFundBalancesEOYAmt>
      </ChgInNetAssetsFundBalancesGrp>
      <ExciseTaxBasedOnInvstIncmGrp>
        <InvestmentIncomeExciseTaxAmt>9097</InvestmentIncomeExciseTaxAmt>
        <TaxUnderSection511Amt>0</TaxUnderSection511Amt>
        <SubtotalAmt>9097</SubtotalAmt>
        <SubtitleATaxAmt>0</SubtitleATaxAmt>
        <TaxBasedOnInvestmentIncomeAmt>9097</TaxBasedOnInvestmentIncomeAmt>
        <EstimatedPlusOvpmtIncmTxAmt>82875</EstimatedPlusOvpmtIncmTxAmt>
        <ExemptFrgnOrgTaxWthldAtSrceAmt>9858</ExemptFrgnOrgTaxWthldAtSrceAmt>
        <ExtsnRequestIncomeTaxPaidAmt>0</ExtsnRequestIncomeTaxPaidAmt>
        <BackupWithholdingWithheldAmt>0</BackupWithholdingWithheldAmt>
        <TotalPaymentsAndCreditsAmt>92733</TotalPaymentsAndCreditsAmt>
        <EsPenaltyAmt>0</EsPenaltyAmt>
        <OverpaymentAmt>83636</OverpaymentAmt>
        <AppliedToESTaxAmt>33636</AppliedToESTaxAmt>
        <RefundAmt>50000</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>0</Section508eRqrSatisfiedInd>
        <AtLeast5000InAssetsInd>1</AtLeast5000InAssetsInd>
        <Form990PFFiledWithAttyGenInd>0</Form990PFFiledWithAttyGenInd>
        <PrivateOperatingFoundationInd>0</PrivateOperatingFoundationInd>
        <NewSubstantialContributorsInd>0</NewSubstantialContributorsInd>
        <OwnControlledEntityInd>0</OwnControlledEntityInd>
        <DonorAdvisedFundInd>0</DonorAdvisedFundInd>
        <ComplyWithPublicInspRqrInd>1</ComplyWithPublicInspRqrInd>
        <WebsiteAddressTxt>N/A</WebsiteAddressTxt>
        <PersonsWithBooksName>
          <BusinessNameLine1Txt>I Paskar Yad Hanadiv CC</BusinessNameLine1Txt>
        </PersonsWithBooksName>
        <PhoneNum>7225665107</PhoneNum>
        <LocationOfBooksForeignAddress>
          <AddressLine1Txt>4 Washington Street</AddressLine1Txt>
          <CityNm>Jerusalem</CityNm>
          <CountryCd>IS</CountryCd>
          <ForeignPostalCd>9418704</ForeignPostalCd>
        </LocationOfBooksForeignAddress>
        <ForeignAccountsQuestionInd>0</ForeignAccountsQuestionInd>
      </StatementsRegardingActyGrp>
      <StatementsRegardingActy4720Grp>
        <SaleOrExchDisqualifiedPrsnInd>0</SaleOrExchDisqualifiedPrsnInd>
        <BrrwOrLendDisqualifiedPrsnInd>0</BrrwOrLendDisqualifiedPrsnInd>
        <FurnGoodsDisqualifiedPrsnInd>0</FurnGoodsDisqualifiedPrsnInd>
        <PayCompDisqualifiedPrsnInd>0</PayCompDisqualifiedPrsnInd>
        <TransferAstDisqualifiedPrsnInd>0</TransferAstDisqualifiedPrsnInd>
        <PaymentToGovernmentOfficialInd>0</PaymentToGovernmentOfficialInd>
        <UncorrectedPriorActsInd>0</UncorrectedPriorActsInd>
        <UndistributedIncomePYInd>0</UndistributedIncomePYInd>
        <BusinessHoldingsInd>0</BusinessHoldingsInd>
        <JeopardyInvestmentsInd>0</JeopardyInvestmentsInd>
        <UncorrectedPYJeopardyInvstInd>0</UncorrectedPYJeopardyInvstInd>
        <InfluenceLegislationInd>0</InfluenceLegislationInd>
        <InfluenceElectionInd>0</InfluenceElectionInd>
        <GrantsToIndividualsInd>1</GrantsToIndividualsInd>
        <GrantsToOrganizationsInd>0</GrantsToOrganizationsInd>
        <NoncharitablePurposeInd>0</NoncharitablePurposeInd>
        <TransactionsFailToQlfyAsExcInd>0</TransactionsFailToQlfyAsExcInd>
        <RcvFndsToPayPrsnlBnftCntrctInd>0</RcvFndsToPayPrsnlBnftCntrctInd>
        <PayPremiumsPrsnlBnftCntrctInd>0</PayPremiumsPrsnlBnftCntrctInd>
        <ProhibitedTaxShelterTransInd>0</ProhibitedTaxShelterTransInd>
        <SubjToTaxRmnrtnExPrchtPymtInd>0</SubjToTaxRmnrtnExPrchtPymtInd>
      </StatementsRegardingActy4720Grp>
      <OfficerDirTrstKeyEmplInfoGrp>
        <OfficerDirTrstKeyEmplGrp>
          <PersonNm>Yad Hanadiv A Rothschild Foundation</PersonNm>
          <ForeignAddress>
            <AddressLine1Txt>19 Par La-Ville Road 1st Floor</AddressLine1Txt>
            <CityNm>Hamilton HM</CityNm>
            <CountryCd>BD</CountryCd>
          </ForeignAddress>
          <TitleTxt>Corporate Trustee</TitleTxt>
          <AverageHrsPerWkDevotedToPosRt>40.00</AverageHrsPerWkDevotedToPosRt>
          <CompensationAmt>691470</CompensationAmt>
          <EmployeeBenefitProgramAmt>0</EmployeeBenefitProgramAmt>
          <ExpenseAccountOtherAllwncAmt>0</ExpenseAccountOtherAllwncAmt>
        </OfficerDirTrstKeyEmplGrp>
        <CompOfHghstPdEmplOrNONETxt>NONE</CompOfHghstPdEmplOrNONETxt>
        <OtherEmployeePaidOver50kCnt>0</OtherEmployeePaidOver50kCnt>
        <CompensationOfHghstPdCntrctGrp>
          <BusinessName>
            <BusinessNameLine1Txt>Yad Hanadiv CC</BusinessNameLine1Txt>
          </BusinessName>
          <ForeignAddress>
            <AddressLine1Txt>4 George Washington Street</AddressLine1Txt>
            <CityNm>Jerusalem</CityNm>
            <CountryCd>IS</CountryCd>
          </ForeignAddress>
          <ServiceTypeTxt>Grant administration</ServiceTypeTxt>
          <CompensationAmt>6188052</CompensationAmt>
        </CompensationOfHghstPdCntrctGrp>
        <CompensationOfHghstPdCntrctGrp>
          <BusinessName>
            <BusinessNameLine1Txt>Windmill Hill Asset Management Limited</BusinessNameLine1Txt>
          </BusinessName>
          <ForeignAddress>
            <AddressLine1Txt>Waddesdon Aylesbury</AddressLine1Txt>
            <CityNm>Bucks</CityNm>
            <CountryCd>UK</CountryCd>
          </ForeignAddress>
          <ServiceTypeTxt>Investment management</ServiceTypeTxt>
          <CompensationAmt>5378144</CompensationAmt>
        </CompensationOfHghstPdCntrctGrp>
        <CompensationOfHghstPdCntrctGrp>
          <BusinessName>
            <BusinessNameLine1Txt>Hillhouse Capital Management Limited</BusinessNameLine1Txt>
          </BusinessName>
          <ForeignAddress>
            <AddressLine1Txt>50 Raffles House 34-02A Singapore</AddressLine1Txt>
            <AddressLine2Txt>Land Tower</AddressLine2Txt>
            <CityNm>Singapore</CityNm>
            <CountryCd>SN</CountryCd>
          </ForeignAddress>
          <ServiceTypeTxt>Investment management</ServiceTypeTxt>
          <CompensationAmt>348496</CompensationAmt>
        </CompensationOfHghstPdCntrctGrp>
        <CompensationOfHghstPdCntrctGrp>
          <BusinessName>
            <BusinessNameLine1Txt>Verdane Idun I</BusinessNameLine1Txt>
          </BusinessName>
          <ForeignAddress>
            <AddressLine1Txt>1 Birger Jarlsgatan 41A5tr 111 45</AddressLine1Txt>
            <CityNm>Stockholm</CityNm>
            <CountryCd>SW</CountryCd>
          </ForeignAddress>
          <ServiceTypeTxt>Investment management</ServiceTypeTxt>
          <CompensationAmt>269280</CompensationAmt>
        </CompensationOfHghstPdCntrctGrp>
        <CompensationOfHghstPdCntrctGrp>
          <BusinessName>
            <BusinessNameLine1Txt>DCVC V LP</BusinessNameLine1Txt>
          </BusinessName>
          <USAddress>
            <AddressLine1Txt>317 University Avenue Suite 200</AddressLine1Txt>
            <CityNm>Palto Alto</CityNm>
            <StateAbbreviationCd>CA</StateAbbreviationCd>
            <ZIPCd>94301</ZIPCd>
          </USAddress>
          <ServiceTypeTxt>Investment management</ServiceTypeTxt>
          <CompensationAmt>253458</CompensationAmt>
        </CompensationOfHghstPdCntrctGrp>
        <ContractorPaidOver50kCnt>17</ContractorPaidOver50kCnt>
      </OfficerDirTrstKeyEmplInfoGrp>
      <SummaryOfDirectChrtblActyGrp>
        <Description1Txt>Not applicable - Foreign Organization</Description1Txt>
        <Expenses1Amt>0</Expenses1Amt>
      </SummaryOfDirectChrtblActyGrp>
      <SumOfProgramRelatedInvstGrp>
        <TotalAmt>0</TotalAmt>
      </SumOfProgramRelatedInvstGrp>
      <DistributableAmountGrp>
        <Sect4942j3j5FndtnAndFrgnOrgInd>X</Sect4942j3j5FndtnAndFrgnOrgInd>
      </DistributableAmountGrp>
      <PFQualifyingDistributionsGrp>
        <ExpensesAndContributionsAmt>30350453</ExpensesAndContributionsAmt>
        <ProgramRelatedInvstTotalAmt>0</ProgramRelatedInvstTotalAmt>
        <QualifyingDistributionsAmt>30350453</QualifyingDistributionsAmt>
      </PFQualifyingDistributionsGrp>
      <SupplementaryInformationGrp>
        <ApplicationSubmissionInfoGrp>
          <RecipientPersonNm>Yad Hanadiv CC</RecipientPersonNm>
          <RecipientForeignAddress>
            <AddressLine1Txt>4 George Washington St</AddressLine1Txt>
            <CityNm>Jerusalem</CityNm>
            <CountryCd>IS</CountryCd>
          </RecipientForeignAddress>
          <RecipientPhoneNum>7225665107</RecipientPhoneNum>
          <FormAndInfoAndMaterialsTxt>Applications may be submitted in a variety of formats.</FormAndInfoAndMaterialsTxt>
          <SubmissionDeadlinesTxt>Programme managers accept applications at will and when they are submitted for review/approval.</SubmissionDeadlinesTxt>
          <RestrictionsOnAwardsTxt>Conflicts of interest must be declared. Decisions on limitations are taken on a case by case basis,</RestrictionsOnAwardsTxt>
        </ApplicationSubmissionInfoGrp>
        <TotalGrantOrContriPdDurYrAmt>0</TotalGrantOrContriPdDurYrAmt>
        <TotalGrantOrContriApprvFutAmt>0</TotalGrantOrContriApprvFutAmt>
      </SupplementaryInformationGrp>
      <AnalysisIncomeProducingActyGrp>
        <DividendsAndInterestFromSecDtl>
          <ExclusionCd>14</ExclusionCd>
          <ExclusionAmt>9071991</ExclusionAmt>
        </DividendsAndInterestFromSecDtl>
        <GainSalesAstOthThanInvntryGrp>
          <ExclusionCd>18</ExclusionCd>
          <ExclusionAmt>-31451</ExclusionAmt>
        </GainSalesAstOthThanInvntryGrp>
        <SubtotalsIncmProducingActyGrp>
          <UnrelatedBusinessTaxblIncmAmt>0</UnrelatedBusinessTaxblIncmAmt>
          <ExclusionAmt>9040540</ExclusionAmt>
          <RelatedOrExemptFunctionIncmAmt>0</RelatedOrExemptFunctionIncmAmt>
        </SubtotalsIncmProducingActyGrp>
        <TotalIncomeProducingActyAmt>9040540</TotalIncomeProducingActyAmt>
      </AnalysisIncomeProducingActyGrp>
      <TrnsfrTransRlnNonchrtblEOGrp>
        <TrnsfrOfCashToNonchrtblEOInd>0</TrnsfrOfCashToNonchrtblEOInd>
        <TrnsfrOtherAssetNonchrtblEOInd>0</TrnsfrOtherAssetNonchrtblEOInd>
        <SalesOrExchangesOfAssetsInd>0</SalesOrExchangesOfAssetsInd>
        <PurchaseOfAssetsNonchrtblEOInd>0</PurchaseOfAssetsNonchrtblEOInd>
        <RentalOfFacilitiesOthAssetsInd>0</RentalOfFacilitiesOthAssetsInd>
        <ReimbursementArrangementsInd>0</ReimbursementArrangementsInd>
        <LoansOrLoanGuaranteesInd>0</LoansOrLoanGuaranteesInd>
        <PerformanceOfServicesEtcInd>0</PerformanceOfServicesEtcInd>
        <SharingOfFacilitiesEtcInd>0</SharingOfFacilitiesEtcInd>
        <RelationshipsNonchrtblEOInd>1</RelationshipsNonchrtblEOInd>
        <RelationshipScheduleDetail>
          <OrganizationBusinessName>
            <BusinessNameLine1Txt>Jader Trust No 4</BusinessNameLine1Txt>
          </OrganizationBusinessName>
          <OrganizationTypeDesc>501(c)(4)</OrganizationTypeDesc>
          <RelationshipDescriptionTxt>Elements of common control</RelationshipDescriptionTxt>
        </RelationshipScheduleDetail>
        <RelationshipScheduleDetail>
          <OrganizationBusinessName>
            <BusinessNameLine1Txt>Fondation Berma</BusinessNameLine1Txt>
          </OrganizationBusinessName>
          <OrganizationTypeDesc>501(c)(4)</OrganizationTypeDesc>
          <RelationshipDescriptionTxt>Elements of common control</RelationshipDescriptionTxt>
        </RelationshipScheduleDetail>
      </TrnsfrTransRlnNonchrtblEOGrp>
    </IRS990PF>
    <AccountingFeesSchedule documentId="RetDoc2002200001">
      <AccountingFeesDetail>
        <CategoryTxt>Accounting fees</CategoryTxt>
        <Amt>43290</Amt>
        <DisbursementsCharitablePrpsAmt>43290</DisbursementsCharitablePrpsAmt>
      </AccountingFeesDetail>
    </AccountingFeesSchedule>
    <InvestmentsCorpStockSchedule documentId="RetDoc2018900001">
      <InvestmentsCorporateStockGrp>
        <StockNm>Corporate stock</StockNm>
        <EOYBookValueAmt>189899087</EOYBookValueAmt>
        <EOYFMVAmt>189899087</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
    </InvestmentsCorpStockSchedule>
    <InvestmentsOtherSchedule2 documentId="RetDoc2018100001">
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>Other investments</CategoryOrItemTxt>
        <ListedAtCostOrFMVCd>FMV</ListedAtCostOrFMVCd>
        <BookValueAmt>1118246548</BookValueAmt>
        <EOYFMVAmt>1118246548</EOYFMVAmt>
      </InvestmentsOtherGrp>
    </InvestmentsOtherSchedule2>
    <LegalFeesSchedule documentId="RetDoc2002100001">
      <LegalFeesGrp>
        <CategoryTxt>Legal fees</CategoryTxt>
        <LegalFeesAmt>2000</LegalFeesAmt>
        <DisbursementsCharitablePrpsAmt>2000</DisbursementsCharitablePrpsAmt>
      </LegalFeesGrp>
    </LegalFeesSchedule>
    <OtherAssetsSchedule documentId="RetDoc2046600001">
      <OtherAssetsScheduleGrp>
        <Desc>Sales for future settlement</Desc>
        <BOYBookValueAmt>38732139</BOYBookValueAmt>
        <EOYBookValueAmt>52066920</EOYBookValueAmt>
        <EOYFMVAmt>52066920</EOYFMVAmt>
      </OtherAssetsScheduleGrp>
    </OtherAssetsSchedule>
    <OtherDecreasesSchedule documentId="RetDoc2049800001">
      <OtherDecreasesDetail>
        <Desc>Unrealised gains (loss) on investments and derivatives</Desc>
        <Amt>285719705</Amt>
      </OtherDecreasesDetail>
    </OtherDecreasesSchedule>
    <OtherExpensesSchedule documentId="RetDoc2003200001">
      <OtherExpensesScheduleGrp>
        <Desc>Bank charges, safe custody &amp; other miscellaneous expenses</Desc>
        <RevenueAndExpensesPerBooksAmt>294230</RevenueAndExpensesPerBooksAmt>
        <DisbursementsCharitablePrpsAmt>65379</DisbursementsCharitablePrpsAmt>
      </OtherExpensesScheduleGrp>
    </OtherExpensesSchedule>
    <OtherProfessionalFeesSchedule documentId="RetDoc2002300001">
      <OtherProfessionalFeesDetail>
        <CategoryTxt>Investment management fees</CategoryTxt>
        <Amt>5542644</Amt>
        <DisbursementsCharitablePrpsAmt>0</DisbursementsCharitablePrpsAmt>
      </OtherProfessionalFeesDetail>
      <OtherProfessionalFeesDetail>
        <CategoryTxt>Investment administration fees</CategoryTxt>
        <Amt>2038106</Amt>
        <DisbursementsCharitablePrpsAmt>0</DisbursementsCharitablePrpsAmt>
      </OtherProfessionalFeesDetail>
      <OtherProfessionalFeesDetail>
        <CategoryTxt>Grant making administration fees</CategoryTxt>
        <Amt>5587328</Amt>
        <DisbursementsCharitablePrpsAmt>6188051</DisbursementsCharitablePrpsAmt>
      </OtherProfessionalFeesDetail>
      <OtherProfessionalFeesDetail>
        <CategoryTxt>Other</CategoryTxt>
        <Amt>11321</Amt>
        <DisbursementsCharitablePrpsAmt>6754</DisbursementsCharitablePrpsAmt>
      </OtherProfessionalFeesDetail>
    </OtherProfessionalFeesSchedule>
    <TaxesSchedule documentId="RetDoc2002500001">
      <TaxesDetail>
        <CategoryTxt>Japanese withholding &amp; US excise taxes</CategoryTxt>
        <Amt>3750</Amt>
        <DisbursementsCharitablePrpsAmt>0</DisbursementsCharitablePrpsAmt>
      </TaxesDetail>
    </TaxesSchedule>
  </ReturnData>
</Return>
