The Matthew 25 Fund has only $27 million under management. But one shareholder would like to see the diminutive fund adopt a requirement that each of the fund's directors have a $25,000 stake in the fund before he is elected, or reelected, to serve as a director.

In a proxy statement filed Sept. 19 on behalf of the fund, shareholder Jack Kreischer, a CPA and managing director of Kreischer, Miller & Co., a public accounting firm in Horsham, Pa., sought shareholder approval to amend the by-laws of the Matthew 25 Fund. Kreischer proposed that "to be elected, or re-elected, as a director of the Matthew 25 Fund, a nominee shall be required to be a shareholder...of at least $25,000 worth of shares of the fund in each of the twelve months preceding the date of election."

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