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Mad River Investors Portfolio holdings

AUM $268M
1-Year Est. Return 31.54%
This Fund
S&P 500
This Quarter Est. Return
-1.69%
1 Year Est. Return
+31.54%
3 Year Est. Return
+225.37%
5 Year Est. Return
+261.39%
10 Year Est. Return
+1,619.55%
AUM
$268M
AUM Growth
-$9.76M
Cap. Flow
+$1.22M
Cap. Flow %
0.45%
Top 10 Hldgs %
91.25%
Holding
33
New
1
Increased
10
Reduced
9
Closed
3

Top Buys

Rank Stock Value
1
MIAX
Miami International Holdings
MIAX
+$9.29M
2
LB
LandBridge Co
LB
+$108K
3
FRMI
Fermi Inc
FRMI
+$104K
4
TPL icon
Texas Pacific Land
TPL
+$85.1K
5
HE icon
Hawaiian Electric Industries
HE
+$68.4K

Top Sells

Rank Stock Value
1
WPM icon
Wheaton Precious Metals
WPM
+$4.31M
2
CCL icon
Carnival Corporation Ltd
CCL
+$1.66M
3
VTI icon
Vanguard Morningstar Total Stock Market ETF
VTI
+$715K
4
RGLD icon
Royal Gold
RGLD
+$627K
5
JPM icon
JPMorgan Chase
JPM
+$417K

Sector Composition

Rank Sector Weight
1 Energy 67.31%
2 Miscellaneous 9.43%
3 Materials 7.16%
4 Utilities 6.67%
5 Financials 5.47%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
RLI icon
26
RLI Corp
RLI
$5.9B
$354K 0.13%
6,000
– –
BRK.B icon
27
Berkshire Hathaway Class B
BRK.B
$1.08T
$313K 0.12%
625
-200
-24% -$96.2K
JNJ icon
28
Johnson & Johnson
JNJ
$646B
$305K 0.11%
1,200
– –
CACI icon
29
CACI
CACI
$13.9B
$211K 0.08%
455
-350
-43% -$179K
FRMI
30
Fermi Inc
FRMI
$3.2B
$151K 0.06%
+16,500
New +$104K
JPM icon
31
JPMorgan Chase
JPM
$951B
– –
-1,417
Closed -$417K
RGLD icon
32
Royal Gold
RGLD
$22.3B
– –
-2,463
Closed -$627K
VIG icon
33
Vanguard Dividend Appreciation ETF
VIG
$113B
– –
-1,000
Closed -$215K
1
2

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MI
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AB
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EMC
Everest Management Corp Cupertino, California $268M AUM 32.42% 1-Year Est. Return
CLA
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EAIC
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NEPPG
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SSW
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Mad River Investors's Q2 2026 Portfolio in Review

As of Q2 2026, Mad River Investors held 33 positions worth $268M, down 3.5% from $278M the previous quarter. Its ten largest holdings account for 91% of the portfolio.

Mad River Investors's Q2 2026 filing shows 1 new, 10 increased, 9 reduced and 3 closed positions. Its largest new stake was Fermi Inc: 16,500 shares worth $151K. The largest sale was Wheaton Precious Metals, an estimated $4.31M.

By sector, the portfolio is most concentrated in Energy at 67% of assets, up from 66% a quarter earlier, followed by Miscellaneous and Materials.

  • Mad River Investors's largest Q2 2026 buy was Fermi Inc: 16,500 shares worth $151K.
  • Mad River Investors added most to Miami International Holdings in Q2 2026, an estimated $9.29M increase.
  • Mad River Investors's biggest Q2 2026 reduction was Wheaton Precious Metals, cutting an estimated $4.31M.
  • Mad River Investors fully exited Royal Gold in Q2 2026, selling an estimated $627K.
  • Mad River Investors's ten largest holdings make up 91% of its $268M portfolio in Q2 2026.
  • Mad River Investors opened 1 new position and closed 3 in Q2 2026.
  • Mad River Investors's portfolio value fell 3.5% quarter-over-quarter to $268M.

Based on Mad River Investors's 13F filing for Q2 2026, filed 3 Aug 2026.