UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F

FORM 13F COVER PAGE
OMB APPROVAL
OMB Number:3235-0006
Expires:July 31, 2015
Estimated average burden
hours per response:23.8
Report for the Calendar Year or Quarter Ended:
09-30-2020
Check here if Amendment: ☐ Amendment Number:
This Amendment (Check only one.):☐ is a restatement.
☐ adds new holdings entries.

Institutional Investment Manager Filing this Report:

Name:
MAD RIVER INVESTORS
Address:
84 STATE STREET
SUITE 1060
BOSTON, MA 02109
Form 13F File Number:
028-12322

The institutional investment manager filing this report and the person by whom it is signed hereby represent that the person signing the report is authorized to submit it, that all information contained herein is true, correct and complete, and that it is understood that all required items, statements, schedules, lists, and tables, are considered integral parts of this form.


Person Signing this Report on Behalf of Reporting Manager:
Name:
Stephen C Carluccio
Title:
Chief Compliance Officer
Phone:
617-728-0333


Signature, Place, and Date of Signing:

//Stephen C Carluccio//
                         [Signature]
Boston, MASSACHUSETTS
                 [City, State]
10-29-2020
                           [Date]
                          

Report Type (Check only one.):

☒ 13F HOLDINGS REPORT. (Check here if all holdings of this reporting manager are reported in this report.) 

☐ 13F NOTICE. (Check here if no holdings reported are in this report, and all holdings are reported by other reporting manager(s).) 

☐ 13F COMBINATION REPORT. (Check here if a portion of the holdings for this reporting manager are reported in this report and a portion are reported by other reporting manager(s).)


Form 13F Summary Page

Report Summary:

Number of Other Included Managers:
0
Form 13F Information table Entry Total:
23
Form 13F Information table Value Total:
78634
          (thousands)

List of Other Included Managers:

Provide a numbered list of the name(s) and Form 13F file number(s) of all institutional investment managers with respect to which this report is filed, other than the manager filing this report.
[If there are no entries in this list, state "NONE" and omit the column headings and list entries.]

  
NONE


UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F

FORM 13F INFORMATION TABLE
OMB APPROVAL
OMB Number:3235-0006
Expires:July 31, 2015
Estimated average burden
hours per response:23.8
COLUMN 1COLUMN 2COLUMN 3COLUMN 4COLUMN 5COLUMN 6COLUMN 7COLUMN 8
VALUESHRS ORSH/PUT/INVESTMENTOTHERVOTING AUTHORITY
NAME OF ISSUERTITLE OF CLASSCUSIP(x$1000)PRN AMTPRNCALLDISCRETIONMANAGERSOLESHAREDNONE
ASSOCIATED CAP GROUP INCCOM0455281064,692129,875SHSOLE 0 0 129,875
BERKSHIRE HATHAWAY INC DELCOM0846707023,56716,749SHSOLE 0 0 16,749
BOEING COCOM0970231051,4538,790SHSOLE 0 0 8,790
CACI INTL INCCOM1271903045,19224,355SHSOLE 0 0 24,355
CBOE GLOBAL MARKETS INCCOM12503M1081,18513,510SHSOLE 0 0 13,510
CIVEO CORP CDACOM17878Y1082,9734,403,167SHSOLE 0 0 4,403,167
CME GROUP INCCOM12572Q1051,79110,707SHSOLE 0 0 10,707
DISNEY WALT COCOM2546871062982,400SHSOLE 0 0 2,400
FRANCO NEV CORPCOM3518581055,51239,490SHSOLE 0 0 39,490
HOWARD HUGHES CORPCOM44267D1072,81548,874SHSOLE 0 0 48,874
INTERCONTINENTAL EXCHANGE INCOM45866F1041,32613,250SHSOLE 0 0 13,250
LIBERTY BROADBAND CORPCLASS A5303071077755,464SHSOLE 0 0 5,464
LIBERTY BROADBAND CORPCLASS C5303073053,76326,338SHSOLE 0 0 26,338
LIBERTY MEDIA CORP DELCLASS A53122987049014,634SHSOLE 0 0 14,634
LIBERTY MEDIA CORP DELCLASS C5312298541,57043,283SHSOLE 0 0 43,283
LIBERTY MEDIA CORP DELCLASS A53122940976923,190SHSOLE 0 0 23,190
LIBERTY MEDIA CORP DELCLASS C5312296072,42173,201SHSOLE 0 0 73,201
MAMMOTH ENERGY SVCS INCCOM56155L1081911,700SHSOLE 0 0 11,700
MESABI TRBEN INT5906721011,20656,850SHSOLE 0 0 56,850
NUVEEN AMT FREE QLTY MUN INCCOM67065710547533,097SHSOLE 0 0 33,097
RLI CORPCOM7496071075867,000SHSOLE 0 0 7,000
TEXAS PAC LD TRCOM88261010824,66754,626SHSOLE 0 0 54,626
WHEATON PRECIOUS METALS CORPCOM96287910211,089225,977SHSOLE 0 0 225,977