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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
+17.49%
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
$144M
AUM Growth
+$36.3M
Cap. Flow
+$22.6M
Cap. Flow %
15.67%
Top 10 Hldgs %
86.32%
Holding
29
New
3
Increased
2
Reduced
16
Closed
2

Top Buys

Rank Stock Value
1
GBTC icon
Grayscale Bitcoin Trust
GBTC
+$19.5M
2
FBTC icon
Fidelity Wise Origin Bitcoin Fund
FBTC
+$4.07M
3
EXP icon
Eagle Materials
EXP
+$1.35M
4
MSB
Mesabi Trust
MSB
+$480K
5
CBOE icon
Cboe Global Markets
CBOE
+$41.5K

Top Sells

Rank Stock Value
1
BA icon
Boeing
BA
+$1.3M
2
AC
Associated Capital Group
AC
+$368K
3
HHH icon
Howard Hughes
HHH
+$257K
4
CACI icon
CACI
CACI
+$160K
5
TPL icon
Texas Pacific Land
TPL
+$130K

Sector Composition

Rank Sector Weight
1 Energy 42.33%
2 Miscellaneous 25.23%
3 Materials 12.96%
4 Consumer Discretionary 6.92%
5 Financials 6.56%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
TPL icon
1
Texas Pacific Land
TPL
$25.5B
$57.9M 40.21%
300,363
-759
-0.3% -$130K
GBTC icon
2
Grayscale Bitcoin Trust
GBTC
$11.5B
$25.3M 17.53%
+442,496
New +$19.5M
WPM icon
3
Wheaton Precious Metals
WPM
$67.3B
$7.2M 5%
152,743
-2,200
-1% -$99.4K
CACI icon
4
CACI
CACI
$13.9B
$6.53M 4.53%
17,230
-450
-3% -$160K
CVEO icon
5
Civeo
CVEO
$347M
$6.49M 4.51%
241,866
-2,880
-1% -$66.9K
FBTC icon
6
Fidelity Wise Origin Bitcoin Fund
FBTC
$14.2B
$5.28M 3.67%
+85,129
New +$4.07M
MSB
7
Mesabi Trust
MSB
$276M
$5.06M 3.51%
285,837
+25,290
+10% +$480K
FNV icon
8
Franco-Nevada
FNV
$50.3B
$3.86M 2.68%
32,402
-599
-2% -$65.9K
CCL icon
9
Carnival Corporation Ltd
CCL
$30.2B
$3.47M 2.41%
212,400
-4,100
-2% -$66.7K
BRK.B icon
10
Berkshire Hathaway Class B
BRK.B
$1.1T
$3.29M 2.28%
7,813
-50
-0.6% -$19.7K
VTI icon
11
Vanguard Morningstar Total Stock Market ETF
VTI
$681B
$3.24M 2.25%
12,482
– –
PBT
12
Permian Basin Royalty Trust
PBT
$1.72B
$3.05M 2.12%
252,447
-4,842
-2% -$65.8K
AC
13
DELISTED
Associated Capital Group
AC
$2.06M 1.43%
63,000
-10,950
-15% -$368K
VIG icon
14
Vanguard Dividend Appreciation ETF
VIG
$111B
$1.84M 1.27%
10,052
– –
EXP icon
15
Eagle Materials
EXP
$5.57B
$1.55M 1.08%
+5,710
New +$1.35M
TRC icon
16
Tejon Ranch
TRC
$428M
$1.39M 0.96%
89,900
-7,925
-8% -$128K
CME icon
17
CME Group
CME
$99.6B
$1.12M 0.78%
5,194
-50
-1% -$10.5K
CBOE icon
18
Cboe Global Markets
CBOE
$29B
$1.12M 0.78%
6,080
+225
+4% +$41.5K
ICE icon
19
Intercontinental Exchange
ICE
$87.7B
$1.06M 0.73%
7,700
-100
-1% -$13.3K
SAND
20
DELISTED
Sandstorm Gold
SAND
$993K 0.69%
189,053
-9,981
-5% -$46.2K
RLI icon
21
RLI Corp
RLI
$5.59B
$817K 0.57%
11,000
– –
ACWX icon
22
iShares MSCI ACWI ex US ETF
ACWX
$12.2B
$414K 0.29%
7,747
-378
-5% -$19.4K
DIS icon
23
Walt Disney
DIS
$186B
$294K 0.2%
2,400
– –
RSP icon
24
Invesco S&P 500 Equal Weight ETF
RSP
$98.3B
$275K 0.19%
1,626
– –
LSXMK
25
DELISTED
Liberty Media Corporation Series C Liberty SiriusXM Common Stock
LSXMK
$271K 0.19%
4,127
-571
-12% -$17.1K
1
2

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Mad River Investors's Q1 2024 Portfolio in Review

As of Q1 2024, Mad River Investors held 29 positions worth $144M, up 34% from $108M the previous quarter. Its ten largest holdings account for 86% of the portfolio.

Mad River Investors deployed $22.6M of net new capital in Q1 2024, opening 3 new positions and adding to 2 existing holdings. Its largest new stake was Grayscale Bitcoin Trust: 442,496 shares worth $25.3M.

By sector, the portfolio is most concentrated in Energy at 42% of assets, down from 52% a quarter earlier, followed by Miscellaneous and Materials.

On the sell side, the largest reduction was Associated Capital Group, an estimated $368K trimmed.

  • Mad River Investors's largest Q1 2024 buy was Grayscale Bitcoin Trust: 442,496 shares worth $25.3M.
  • Mad River Investors added most to Mesabi Trust in Q1 2024, an estimated $480K increase.
  • Mad River Investors's biggest Q1 2024 reduction was Associated Capital Group, cutting an estimated $368K.
  • Mad River Investors fully exited Boeing in Q1 2024, selling an estimated $1.3M.
  • Mad River Investors's ten largest holdings make up 86% of its $144M portfolio in Q1 2024.
  • Mad River Investors opened 3 new positions and closed 2 in Q1 2024.
  • Mad River Investors's portfolio value rose 34% quarter-over-quarter to $144M.

Based on Mad River Investors's 13F filing for Q1 2024, filed 19 Apr 2024.