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The Foundation is a tax-exempt foundation organized for charitable purposes. Lisa K. Simmons and Serena Simmons Connelly are the sole members of the Foundation, serve as two of the three the directors on the Foundation’s board of directors and are the president and executive vice president, respectively of the Foundation. They may be deemed to control the Foundation but disclaim all Shares they do not hold directly. * From a current Bloomberg HDS list I see BlackRock, Dimensional, Calpers, Fidelity and Citadel among the big-name holders, though all in fairly small size. Incidentally, Simmons had other daughters who seem to have been frozen out of Valhi. Here is a 1997 New York Times story about Simmons with the headline "Daughters Do Battle With a Corporate King Lear." So. * Minus an exemption that, compared to the size of Simmons's estate, is very very small (single-digit millions). * This election only works if the estate has kept the property for the six months. Here's an Internal Revenue Service bulletin on the topic. ° Here it is in percentage terms versus the S&P 500: Mar 26, ‘14 May 13, 14 Jun 26, ‘7 Source: Bloomberg And perhaps most interesting, here's the last year, with Simmons's death in the middle: HOUSE_OVERSIGHT_029347