Mad River Investors’s VelocityShares Daily Inverse VIX Medium Term ETN ZIV Stock Holding History

Mad River Investors’s Portfolio ZIV Stock Details ZIV Fund Activity

Bought

Maintained

Sold

Quarter	Market Value	Status	Shares	Change in Stake	Trade Value	Portfolio Weight	Portfolio Position
2015 Q4	–	Sell	-20,650	Closed	-$775K	–	35
2015 Q3	$775K	Sell	20,650 -550	-3%	-$24.4K	0.9%	24
2015 Q2	$985K	Hold	21,200	–	–	0.81%	28
2015 Q1	$892K	Sell	21,200 -300	-1%	-$12.3K	0.7%	30
2014 Q4	$898K	Sell	21,500 -150	-0.7%	-$6.47K	0.72%	32
2014 Q3	$952K	Sell	21,650 -3,275	-13%	-$153K	0.72%	30
2014 Q2	$1.16M	Sell	24,925 -4,375	-15%	-$184K	0.85%	28
2014 Q1	$1.15M	Buy	+29,300	New	+$1.13M	0.88%	25

Other funds holding ZIV

Jane Street New York $777B AUM 61.18% 1-Year Est. Return

JBF Capital Aspen, Colorado $676M AUM 24.74% 1-Year Est. Return

Virtu Financial New York $2.41B AUM 48.35% 1-Year Est. Return

Valentine Ventures Bend, Oregon $92.9M AUM 0.08% 1-Year Est. Return

Susquehanna International Group Bala Cynwyd, Pennsylvania $893B AUM 36.07% 1-Year Est. Return

Mirae Asset Global Investments Seoul, South Korea $67.7B AUM 51.91% 1-Year Est. Return

BTS

BB&T Securities Richmond, Virginia $10.9B AUM 5.31% 1-Year Est. Return

OMC

Oasis Management Company Grand Cayman, Cayman Islands $1.72B AUM 32.1% 1-Year Est. Return

FTUS

Flow Traders U.S. New York $3.16B AUM 19.52% 1-Year Est. Return

Goldman Sachs New York $871B AUM 31.28% 1-Year Est. Return

Mad River Investors's ZIV Position: Q4 2015 in Review

Mad River Investors sold out of VelocityShares Daily Inverse VIX Medium Term ETN (ZIV) in Q4 2015, closing a stake of 20,650 shares — an estimated $775K sold.

Mad River Investors first reported a position in ZIV in Q1 2014 and held it in 7 quarters. The position peaked at $1.16M in Q2 2014. 22 funds tracked by Wall St. Rank hold ZIV as of Q4 2015.

Mad River Investors reported no remaining VelocityShares Daily Inverse VIX Medium Term ETN position as of Q4 2015 after selling out during the quarter.
Mad River Investors sold 20,650 VelocityShares Daily Inverse VIX Medium Term ETN shares in Q4 2015, an estimated $775K.
Mad River Investors first reported a position in VelocityShares Daily Inverse VIX Medium Term ETN in Q1 2014 and held it in 7 quarters.
Mad River Investors's VelocityShares Daily Inverse VIX Medium Term ETN position peaked at $1.16M in Q2 2014.
22 funds tracked by Wall St. Rank held VelocityShares Daily Inverse VIX Medium Term ETN as of Q4 2015.

Based on Mad River Investors's 13F filing for Q4 2015, filed 3 Feb 2016.