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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
+12.82%
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
$236M
AUM Growth
+$20.8M
Cap. Flow
-$1.68M
Cap. Flow %
-0.71%
Top 10 Hldgs %
92.45%
Holding
27
New
1
Increased
8
Reduced
12
Closed
3

Top Buys

Rank Stock Value
1
HE icon
Hawaiian Electric Industries
HE
+$11.1M
2
PBT
Permian Basin Royalty Trust
PBT
+$2.44M
3
ARIS
Aris Water Solutions
ARIS
+$2.12M
4
LB
LandBridge Co
LB
+$56.7K
5
MSB
Mesabi Trust
MSB
+$42.6K

Top Sells

Rank Stock Value
1
CACI icon
CACI
CACI
+$5.91M
2
CVEO icon
Civeo
CVEO
+$3.21M
3
BRK.B icon
Berkshire Hathaway Class B
BRK.B
+$2.35M
4
TPL icon
Texas Pacific Land
TPL
+$1.01M
5
GBTC icon
Grayscale Bitcoin Trust
GBTC
+$982K

Sector Composition

Rank Sector Weight
1 Energy 62.55%
2 Materials 10.54%
3 Utilities 6.66%
4 Consumer Discretionary 2.33%
5 Financials 1.88%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
RCG
26
RENN Fund
RCG
$21M
– –
-28,000
Closed -$62.4K
TRC icon
27
Tejon Ranch
TRC
$451M
– –
-27,799
Closed -$442K
1
2

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FC
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PF
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EAIC
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UI
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SSWM
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Mad River Investors's Q1 2025 Portfolio in Review

As of Q1 2025, Mad River Investors held 27 positions worth $236M, up 9.7% from $215M the previous quarter. Its ten largest holdings account for 92% of the portfolio.

Mad River Investors's Q1 2025 filing shows 1 new, 8 increased, 12 reduced and 3 closed positions. Its largest new stake was Aris Water Solutions: 74,900 shares worth $2.4M. The largest sale was CACI, an estimated $5.91M.

By sector, the portfolio is most concentrated in Energy at 63% of assets, up from 58% a quarter earlier, followed by Materials and Utilities.

  • Mad River Investors's largest Q1 2025 buy was Aris Water Solutions: 74,900 shares worth $2.4M.
  • Mad River Investors added most to Hawaiian Electric Industries in Q1 2025, an estimated $11.1M increase.
  • Mad River Investors's biggest Q1 2025 reduction was CACI, cutting an estimated $5.91M.
  • Mad River Investors fully exited Tejon Ranch in Q1 2025, selling an estimated $442K.
  • Mad River Investors's ten largest holdings make up 92% of its $236M portfolio in Q1 2025.
  • Mad River Investors opened 1 new position and closed 3 in Q1 2025.
  • Mad River Investors's portfolio value rose 9.7% quarter-over-quarter to $236M.

Based on Mad River Investors's 13F filing for Q1 2025, filed 22 Apr 2025.