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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
-11.01%
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
$142M
AUM Growth
-$30.5M
Cap. Flow
-$1.94M
Cap. Flow %
-1.36%
Top 10 Hldgs %
91.87%
Holding
27
New
1
Increased
7
Reduced
11
Closed
4

Top Buys

Rank Stock Value
1
CCL icon
Carnival Corporation Ltd
CCL
+$3.2M
2
MSB
Mesabi Trust
MSB
+$1.42M
3
SAND
Sandstorm Gold
SAND
+$560K
4
WPM icon
Wheaton Precious Metals
WPM
+$433K
5
FNV icon
Franco-Nevada
FNV
+$385K

Top Sells

Rank Stock Value
1
TPL icon
Texas Pacific Land
TPL
+$5.28M
2
HHH icon
Howard Hughes
HHH
+$759K
3
BRK.B icon
Berkshire Hathaway Class B
BRK.B
+$547K
4
NEA icon
Nuveen AMT-Free Quality Municipal Income Fund
NEA
+$301K
5
FWONK icon
Liberty Media Series C
FWONK
+$216K

Sector Composition

Rank Sector Weight
1 Energy 57.27%
2 Materials 17.75%
3 Financials 7.8%
4 Consumer Discretionary 7.34%
5 Technology 4.98%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
TUSK icon
26
Mammoth Energy Services
TUSK
$163M
– –
-10,700
Closed -$93K
GBL
27
DELISTED
GAMCO Investors, Inc.
GBL
– –
-12,050
Closed -$184K
1
2

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Mad River Investors's Q1 2023 Portfolio in Review

As of Q1 2023, Mad River Investors held 27 positions worth $142M, down 18% from $172M the previous quarter. Its ten largest holdings account for 92% of the portfolio.

Mad River Investors's Q1 2023 filing shows 1 new, 7 increased, 11 reduced and 4 closed positions. Its largest new stake was Carnival Corporation Ltd: 308,900 shares worth $3.14M. The largest sale was Texas Pacific Land, an estimated $5.28M.

By sector, the portfolio is most concentrated in Energy at 57% of assets, down from 67% a quarter earlier, followed by Materials and Financials.

  • Mad River Investors's largest Q1 2023 buy was Carnival Corporation Ltd: 308,900 shares worth $3.14M.
  • Mad River Investors added most to Mesabi Trust in Q1 2023, an estimated $1.42M increase.
  • Mad River Investors's biggest Q1 2023 reduction was Texas Pacific Land, cutting an estimated $5.28M.
  • Mad River Investors fully exited Nuveen AMT-Free Quality Municipal Income Fund in Q1 2023, selling an estimated $301K.
  • Mad River Investors's ten largest holdings make up 92% of its $142M portfolio in Q1 2023.
  • Mad River Investors opened 1 new position and closed 4 in Q1 2023.
  • Mad River Investors's portfolio value fell 18% quarter-over-quarter to $142M.

Based on Mad River Investors's 13F filing for Q1 2023, filed 4 May 2023.