MAD RIVER INVESTORS Information

84 STATE STREET, BOSTON, Massachusetts, 02109, (617) 728-0444

Report Date: 12/31/2014

Position Statistics

Total Positions 42
New Positions 4
Increased Positions 12
Decreased Positions 29
Positions with Activity 41
Sold Out Positions 3
Total Mkt Value (in $ millions) 135

Institutional Holdings information is filed by major institutions on form 13-F with the Securities and Exchange Commission.

Sector Weighting

Basic Materials 0.34%
Capital Goods 6.19%
Conglomerates
Consumer Cyclical
Consumer/Non-Cyclical
Energy 3.68%
Financial 16.42%
Healthcare
Services 59.72%
Technology 1.48%
Transportation
Utilities

42 Positions as of 12/31/2014

Company Class Value of Shares ($1,000s) ▼ Change in Value ($1,000s) Change (%) Shares Held
HOWARD HUGHES CORP COM 14,579 38 .26 98,300
ICAHN ENTERPRISES LP DEPOSITARY UNIT 10,795 72 .67 114,322
WENDYS CO COM 9,621 5 .05 873,050
BERKSHIRE HATHAWAY INC DEL CL B NEW 6,631 22 .33 45,755
LIBERTY MEDIA CORP DELAWARE COM SER C 6,605 -122 (1.81) 166,588
LIBERTY INTERACTIVE CORP LBT VENT COM A 6,344 -23 (0.37) 158,329
TEXAS PAC LD TR SUB CTF PROP I T 5,714 76 1.34 39,984
SEARS HLDGS CORP COM 5,324 -203 (3.67) 136,998
TRI POINTE HOMES INC COM 5,029 -19 (0.38) 332,825
LIBERTY INTERACTIVE CORP INT COM SER A 4,839 -30 (0.61) 163,550
LIBERTY TRIPADVISOR HLDGS INC COM SER A 4,522 -23 (0.51) 134,830
DREAMWORKS ANIMATION SKG INC CL A 4,142 -40 (0.96) 190,525
RESTAURANT BRANDS INTL INC COM 3,375 3,375 New 79,342
DISH NETWORK CORP CL A 3,368 25 .74 44,550
BROOKFIELD RESIDENTIAL PPTYS I COM 3,317 -54 (1.62) 137,025
LIVE NATION ENTERTAINMENT INC COM 3,258 -45 (1.37) 124,575
LIBERTY MEDIA CORP DELAWARE CL A 3,257 -62 (1.88) 81,727
BROOKFIELD ASSET MGMT INC CL A LTD VT SH 3,219 -149 (4.43) 58,660
PIMCO DYNAMIC INCOME FD SHS 2,979 -470 (13.62) 99,300
CONTINENTAL RESOURCES INC COM 2,880 9 .31 65,820