MAD RIVER INVESTORS Information

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

Report Date: 03/31/2014

Position Statistics

Total Positions 35
New Positions 2
Increased Positions 9
Decreased Positions 23
Positions with Activity 32
Sold Out Positions 2
Total Mkt Value (in $ millions) 127

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

Sector Weighting

Basic Materials 2.38%
Capital Goods 2.15%
Conglomerates
Consumer Cyclical
Consumer/Non-Cyclical
Energy 4.01%
Financial 19.5%
Healthcare
Services 67.17%
Technology 1.55%
Transportation
Utilities

35 Positions as of 03/31/2014

Company Class Value of Shares ($1,000s) ▼ Change in Value ($1,000s) Change (%) Shares Held
HOWARD HUGHES CORP COM 15,198 -86 (0.56) 99,574
ICAHN ENTERPRISES LP DEPOSITARY UNIT 11,803 52 .44 111,215
LIBERTY INTERACTIVE CORP LBT VENT COM A 9,896 -255 (2.51) 137,324
WENDYS CO COM 7,250 -73 (1) 876,125
TEXAS PAC LD TR SUB CTF PROP I T 7,045 -128 (1.79) 39,834
ROUSE PPTYS INC COM 6,308 -252 (3.84) 364,413
BERKSHIRE HATHAWAY INC DEL CL B NEW 6,011 -106 (1.73) 46,830
SEARS HLDGS CORP COM 5,299 669 14.46 135,213
CONTINENTAL RESOURCES INC COM 5,109 -135 (2.57) 33,135
LIBERTY INTERACTIVE CORP INT COM SER A 4,844 -26 (0.53) 165,150
DREAMWORKS ANIMATION SKG INC CL A 4,350 -14 (0.31) 190,950
LIBERTY MEDIA CORP DELAWARE CL A 4,155 -44 (1.05) 84,908
PIMCO DYNAMIC INCOME FD SHS 4,052 -224 (5.24) 124,675
OAKTREE CAP GROUP LLC UNIT CL A 3,569 2,252 170.92 71,725
BROOKFIELD ASSET MGMT INC CL A LTD VT SH 3,563 -95 (2.59) 79,984
LIVE NATION ENTERTAINMENT INC COM 3,247 -33 (1.02) 134,125
SEARS HOMETOWN & OUTLET STORES COM 3,096 1,927 164.75 157,653
DISH NETWORK CORP CL A 2,849 -3 (0.11) 44,925
BROOKFIELD RESIDENTIAL PPTYS I COM 2,732 14 .51 139,125
STARZ COM SER A 2,486 -34 (1.37) 82,896