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Mad River Investors Portfolio holdings

AUM $278M
1-Year Est. Return 32.21%
This Fund
S&P 500
This Quarter Est. Return
-3.25%
1 Year Est. Return
+32.21%
3 Year Est. Return
+205.53%
5 Year Est. Return
+287.35%
10 Year Est. Return
+1,823.68%
AUM
$108M
AUM Growth
-$33.6M
Cap. Flow
-$26.3M
Cap. Flow %
-24.42%
Top 10 Hldgs %
87.18%
Holding
26
New
1
Increased
–
Reduced
17
Closed
–

Top Buys

Rank Stock Value
1
DIS icon
Walt Disney
DIS
+$212K

Top Sells

Rank Stock Value
1
TPL icon
Texas Pacific Land
TPL
+$11.9M
2
TRC icon
Tejon Ranch
TRC
+$1.88M
3
MSB
Mesabi Trust
MSB
+$1.87M
4
CVEO icon
Civeo
CVEO
+$1.75M
5
WPM icon
Wheaton Precious Metals
WPM
+$1.58M

Sector Composition

Rank Sector Weight
1 Energy 52.16%
2 Materials 16.37%
3 Consumer Discretionary 8.92%
4 Financials 8.66%
5 Technology 5.31%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
TPL icon
1
Texas Pacific Land
TPL
$26.9B
$52.6M 48.83%
301,122
-62,415
-17% -$11.9M
WPM icon
2
Wheaton Precious Metals
WPM
$49.8B
$7.64M 7.1%
154,943
-35,028
-18% -$1.58M
CACI icon
3
CACI
CACI
$11.2B
$5.73M 5.31%
17,680
-4,000
-18% -$1.3M
CVEO icon
4
Civeo
CVEO
$374M
$5.59M 5.19%
244,746
-80,743
-25% -$1.75M
MSB
5
Mesabi Trust
MSB
$300M
$5.33M 4.95%
260,547
-94,763
-27% -$1.87M
CCL icon
6
Carnival Corporation Ltd
CCL
$38.5B
$4.01M 3.73%
216,500
-75,000
-26% -$1.09M
FNV icon
7
Franco-Nevada
FNV
$40.5B
$3.66M 3.39%
33,001
-8,804
-21% -$1.07M
PBT
8
Permian Basin Royalty Trust
PBT
$1.31B
$3.59M 3.33%
257,289
-78,441
-23% -$1.4M
VTI icon
9
Vanguard Total Stock Market ETF
VTI
$656B
$2.96M 2.75%
12,482
– –
BRK.B icon
10
Berkshire Hathaway Class B
BRK.B
$1.1T
$2.8M 2.6%
7,863
– –
AC
11
DELISTED
Associated Capital Group
AC
$2.64M 2.45%
73,950
-25,700
-26% -$880K
VIG icon
12
Vanguard Dividend Appreciation ETF
VIG
$113B
$1.71M 1.59%
10,052
– –
TRC icon
13
Tejon Ranch
TRC
$472M
$1.68M 1.56%
97,825
-115,600
-54% -$1.88M
BA icon
14
Boeing
BA
$175B
$1.3M 1.21%
5,003
-75
-1% -$16K
CME icon
15
CME Group
CME
$93.2B
$1.1M 1.03%
5,244
-2,200
-30% -$469K
CBOE icon
16
Cboe Global Markets
CBOE
$30.9B
$1.05M 0.97%
5,855
-3,000
-34% -$514K
ICE icon
17
Intercontinental Exchange
ICE
$86.2B
$1M 0.93%
7,800
-2,630
-25% -$298K
SAND
18
DELISTED
Sandstorm Gold
SAND
$1M 0.93%
199,034
-93,581
-32% -$446K
RLI icon
19
RLI Corp
RLI
$6.01B
$732K 0.68%
11,000
– –
ACWX icon
20
iShares MSCI ACWI ex US ETF
ACWX
$11.3B
$415K 0.38%
8,125
– –
LSXMK
21
DELISTED
Liberty Media Corporation Series C Liberty SiriusXM Common Stock
LSXMK
$297K 0.28%
4,698
– –
HHH icon
22
Howard Hughes
HHH
$3.95B
$257K 0.24%
3,147
-52
-2% -$3.65K
RSP icon
23
Invesco S&P 500 Equal Weight ETF
RSP
$98.1B
$257K 0.24%
1,626
– –
DIS icon
24
Walt Disney
DIS
$172B
$217K 0.2%
+2,400
New +$212K
RUM icon
25
RUM Group Inc
RUM
$1.65B
$98.8K 0.09%
22,000
-19,500
-47% -$95.1K
1
2

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Mad River Investors's Q4 2023 Portfolio in Review

As of Q4 2023, Mad River Investors held 26 positions worth $108M, down 24% from $141M the previous quarter. Its ten largest holdings account for 87% of the portfolio.

Mad River Investors withdrew a net $26.3M in Q4 2023, reducing 17 holdings. Its largest reduction was Texas Pacific Land, cutting an estimated $11.9M.

By sector, the portfolio is most concentrated in Energy at 52% of assets, down from 57% a quarter earlier, followed by Materials and Consumer Discretionary.

Against the trend, Mad River Investors opened a new position in Walt Disney worth $217K.

  • Mad River Investors's largest Q4 2023 buy was Walt Disney: 2,400 shares worth $217K.
  • Mad River Investors's biggest Q4 2023 reduction was Texas Pacific Land, cutting an estimated $11.9M.
  • Mad River Investors's ten largest holdings make up 87% of its $108M portfolio in Q4 2023.
  • Mad River Investors opened 1 new position and closed 0 in Q4 2023.
  • Mad River Investors's portfolio value fell 24% quarter-over-quarter to $108M.

Based on Mad River Investors's 13F filing for Q4 2023, filed 26 Jan 2024.