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Enterprising Investor

08/05/16 1:29 PM

#74 RE: Enterprising Investor #73

TPL cash on hand was $45,615,848 at 6/30/16.

Up from $45,011,969 at 12/31/15.

The trust purchased and retired 51,547 Sub-shares in the open market during fourth quarter. Average cost per share paid was $161.48.