# EDGAR Filing Document

**Accession Number:** 0001615717
**File Stem:** 0001085146-23-000403
**Filing Date:** 2023-1
**Character Count:** 9864
**Document Hash:** 69589c8f980b1ea89b4fac79a4362a94
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001085146-23-000403.hdr.sgml**: 20230127

**ACCESSION NUMBER**: 0001085146-23-000403

**CONFORMED SUBMISSION TYPE**: 13F-HR

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20221231

**FILED AS OF DATE**: 20230127

**DATE AS OF CHANGE**: 20230127

**EFFECTIVENESS DATE**: 20230127

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Triad Investment Management
- **CENTRAL INDEX KEY:** 0001615717
- **IRS NUMBER:** 262103757

**FILING VALUES:**
- **FORM TYPE:** 13F-HR
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-19045
- **FILM NUMBER:** 23559645

**BUSINESS ADDRESS:**
- **STREET 1:** 1301 DOVE STREET
- **STREET 2:** SUITE 1080
- **CITY:** NEWPORT BEACH
- **STATE:** CA
- **ZIP:** 92660
- **BUSINESS PHONE:** 9496793991

**MAIL ADDRESS:**
- **STREET 1:** 1301 DOVE STREET
- **STREET 2:** SUITE 1080
- **CITY:** NEWPORT BEACH
- **STATE:** CA
- **ZIP:** 92660

### FORM 13F COVER PAGE

**Report for the Calendar Year or Quarter Ended:** 12-31-2022

**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:** Triad Investment Management<br>**Address:** 1301 DOVE STREET<br>SUITE 1080<br>NEWPORT BEACH, CA 92660

**Form 13F File Number:** 028-19045

**CRD Number (if applicable):** 000146786

**SEC File Number (if applicable):** 801-68966

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:** David Hutchison<br>**Title:** Managing Director<br>**Phone:** 949-679-3991

**Signature, Place, and Date of Signing:**

/s/David Hutchison  Newport Beach, CA  01-27-2023<br>[Signature]  [City, State]  [Date]

**Report Type (Check only one.):**

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

[ ] **13F NOTICE.** (Check here if no holdings are reported 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:** 56

**Form 13F Information Table Value Total:** $63927221

      (round to nearest dollar)

**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**

### FORM 13F INFORMATION TABLE

---

|  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | FIGI | VALUE (x$1000) | SHRS OR PRN AMT | SH/PRN | PUT/CALL | INVESTMENT DISCRETION | OTHER MANAGER | VOTING AUTHORITY | VOTING AUTHORITY | VOTING AUTHORITY |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | FIGI | VALUE (x$1000) | SHRS OR PRN AMT | SH/PRN | PUT/CALL | INVESTMENT DISCRETION | OTHER MANAGER | SOLE | SHARED | NONE |
| ALTUS POWER INC | COM CL A | 02217A102 | BBG00Y48ZM97 | 135486 | 20780 | SH |  | SOLE |  | 20780 | 0 | 0 |
| AMERICAN EXPRESS CO | COM | 025816109 | BBG001S5P034 | 1202390 | 8138 | SH |  | SOLE |  | 8138 | 0 | 0 |
| ANNALY CAPITAL MANAGEMENT IN | COM NEW | 035710839 | BBG001S8J4S0 | 935193 | 44364 | SH |  | SOLE |  | 44364 | 0 | 0 |
| AUDACY INC | CL A | 05070N103 | BBG001S9SL91 | 29989 | 133224 | SH |  | SOLE |  | 133224 | 0 | 0 |
| BERKSHIRE HATHAWAY INC DEL | CL B NEW | 084670702 | BBG001S90346 | 804685 | 2605 | SH |  | SOLE |  | 2605 | 0 | 0 |
| BLACKROCK LTD DURATION INCOM | COM SHS | 09249W101 | BBG001SLG5M7 | 150658 | 11527 | SH |  | SOLE |  | 11527 | 0 | 0 |
| BLACKROCK TAX MUNICPAL BD TR | SHS | 09248X100 | BBG001T9DW47 | 207848 | 12342 | SH |  | SOLE |  | 12342 | 0 | 0 |
| BROOKFIELD REAL ASSETS INCOM | SHS BEN INT | 112830104 | BBG00FF5CVF0 | 852986 | 52816 | SH |  | SOLE |  | 52816 | 0 | 0 |
| BROWN  BROWN INC | COM | 115236101 | BBG001S5XFN0 | 1805731 | 31696 | SH |  | SOLE |  | 31696 | 0 | 0 |
| CANNAE HLDGS INC | COM | 13765N107 | BBG00GXRNJQ3 | 3236991 | 156755 | SH |  | SOLE |  | 156755 | 0 | 0 |
| CARMAX INC | COM | 143130102 | BBG001SD9561 | 2257923 | 37082 | SH |  | SOLE |  | 37082 | 0 | 0 |
| CBRE GROUP INC | CL A | 12504L109 | BBG001SC2D27 | 1682192 | 21858 | SH |  | SOLE |  | 21858 | 0 | 0 |
| CDW CORP | COM | 12514G108 | BBG001V18TB6 | 2259873 | 12654 | SH |  | SOLE |  | 12654 | 0 | 0 |
| COMCAST CORP NEW | CL A | 20030N101 | BBG001S5PXL2 | 243601 | 6966 | SH |  | SOLE |  | 6966 | 0 | 0 |
| DUN  BRADSTREET HLDGS INC | COM | 26484T106 | BBG00VCZXBX3 | 122612 | 10001 | SH |  | SOLE |  | 10001 | 0 | 0 |
| ENTEGRIS INC | COM | 29362U104 | BBG001SF9YL6 | 834611 | 12724 | SH |  | SOLE |  | 12724 | 0 | 0 |
| FIDELITY NATL INFORMATION SV | COM | 31620M106 | BBG001S8SWQ0 | 754696 | 11123 | SH |  | SOLE |  | 11123 | 0 | 0 |
| FISERV INC | COM | 337738108 | BBG001S5R6Q4 | 2813991 | 27842 | SH |  | SOLE |  | 27842 | 0 | 0 |
| GARTNER INC | COM | 366651107 | BBG001S5SD60 | 3744936 | 11141 | SH |  | SOLE |  | 11141 | 0 | 0 |
| GUGGENHEIM TAXABLE MUNICP BO | COM | 401664107 | BBG001SLD9D2 | 196829 | 12031 | SH |  | SOLE |  | 12031 | 0 | 0 |
| HERCULES CAPITAL INC | COM | 427096508 | BBG001SDPHZ5 | 1201425 | 90879 | SH |  | SOLE |  | 90879 | 0 | 0 |
| JOHNSON  JOHNSON | COM | 478160104 | BBG001S5SHQ9 | 894556 | 5064 | SH |  | SOLE |  | 5064 | 0 | 0 |
| KAR AUCTION SVCS INC | COM | 48238T109 | BBG001T5L4B0 | 771725 | 59136 | SH |  | SOLE |  | 59136 | 0 | 0 |
| KORN FERRY | COM NEW | 500643200 | BBG001SC0054 | 2058716 | 40670 | SH |  | SOLE |  | 40670 | 0 | 0 |
| LIBERTY MEDIA CORP DEL | NOTE 1.375%10/1 | 531229AB8 |  | 1391595 | 1130000 | SH |  | SOLE |  | 1130000 | 0 | 0 |
| LIBERTY TRIPADVISOR HLDGS IN | COM SER A | 531465102 | BBG005DKMJ58 | 842092 | 1257604 | SH |  | SOLE |  | 1257604 | 0 | 0 |
| LINDBLAD EXPEDITIONS HLDGS I | COM | 535219109 | BBG004MDWKT7 | 462847 | 60110 | SH |  | SOLE |  | 60110 | 0 | 0 |
| MACERICH CO | COM | 554382101 | BBG001S7HGB5 | 707871 | 62866 | SH |  | SOLE |  | 62866 | 0 | 0 |
| MARRIOTT VACATIONS WORLDWIDE | COM | 57164Y107 | BBG001V0GHW2 | 2546241 | 18918 | SH |  | SOLE |  | 18918 | 0 | 0 |
| MAXIMUS INC | COM | 577933104 | BBG001S6G4K5 | 1215900 | 16581 | SH |  | SOLE |  | 16581 | 0 | 0 |
| MERCK  CO INC | COM | 58933Y105 | BBG001S5TC52 | 296791 | 2675 | SH |  | SOLE |  | 2675 | 0 | 0 |
| MICROSOFT CORP | COM | 594918104 | BBG001S5TD05 | 359730 | 1500 | SH |  | SOLE |  | 1500 | 0 | 0 |
| MOHAWK INDS INC | COM | 608190104 | BBG001SBGSZ5 | 1073923 | 10506 | SH |  | SOLE |  | 10506 | 0 | 0 |
| NOV INC | COM | 62955J103 | BBG001S6HFR2 | 357052 | 17092 | SH |  | SOLE |  | 17092 | 0 | 0 |
| OAKTREE SPECIALTY LENDING CO | COM | 67401P108 | BBG001SR03L7 | 2206769 | 321218 | SH |  | SOLE |  | 321218 | 0 | 0 |
| PAYSAFE LIMITED | *W EXP 03/30/202 | G6964L115 |  | 1832 | 31925 | SH |  | SOLE |  | 31925 | 0 | 0 |
| PAYSAFE LIMITED | SHS | G6964L206 | BBG00YT50788 | 142928 | 10290 | SH |  | SOLE |  | 10290 | 0 | 0 |
| PERMIAN RESOURCES CORP | CLASS A COM | 71424F105 | BBG00D61Y2G3 | 152665 | 16241 | SH |  | SOLE |  | 16241 | 0 | 0 |
| ROPER TECHNOLOGIES INC | COM | 776696106 | BBG001S9B362 | 1992493 | 4611 | SH |  | SOLE |  | 4611 | 0 | 0 |
| S GLOBAL INC | COM | 78409V104 | BBG001S5T5M8 | 281015 | 839 | SH |  | SOLE |  | 839 | 0 | 0 |
| SCHLUMBERGER LTD | COM STK | 806857108 | BBG001S5W4C8 | 4766012 | 89151 | SH |  | SOLE |  | 89151 | 0 | 0 |
| SCHWAB CHARLES CORP | COM | 808513105 | BBG001S5VXD4 | 333456 | 4005 | SH |  | SOLE |  | 4005 | 0 | 0 |
| SIMPLIFY EXCHANGE TRADED FUN | SIMPLIFY INTERST | 82889N855 | BBG010Z8GX02 | 781337 | 10911 | SH |  | SOLE |  | 10911 | 0 | 0 |
| SLR INVESTMENT CORP | COM | 83413U100 | BBG001T1Q8N2 | 1047189 | 75283 | SH |  | SOLE |  | 75283 | 0 | 0 |
| SPECIAL OPPORTUNITIES FD INC | COM | 84741T104 | BBG001S5V6G0 | 235000 | 20614 | SH |  | SOLE |  | 20614 | 0 | 0 |
| SS TECHNOLOGIES HLDGS INC | COM | 78467J100 | BBG001STPPK8 | 2494286 | 47911 | SH |  | SOLE |  | 47911 | 0 | 0 |
| THOR INDS INC | COM | 885160101 | BBG001S5WPH6 | 2155997 | 28560 | SH |  | SOLE |  | 28560 | 0 | 0 |
| TRANSOCEAN LTD | REG SHS | H8817H100 | BBG001S7B678 | 303696 | 66600 | SH |  | SOLE |  | 66600 | 0 | 0 |
| TRAVEL PLUS LEISURE CO | COM | 894164102 | BBG001SN4127 | 1453759 | 39938 | SH |  | SOLE |  | 39938 | 0 | 0 |
| VISA INC | COM CL A | 92826C839 | BBG001SRCFY3 | 1908971 | 9188 | SH |  | SOLE |  | 9188 | 0 | 0 |
| WARNER BROS DISCOVERY INC | COM SER A | 934423104 | BBG011386VG3 | 1370106 | 144526 | SH |  | SOLE |  | 144526 | 0 | 0 |
| WELLS FARGO CO NEW | COM | 949746101 | BBG001S5XF23 | 785996 | 19036 | SH |  | SOLE |  | 19036 | 0 | 0 |
| WESTERN ASSET HIGH INCOME OP | COM | 95766K109 | BBG001S7HQ69 | 217096 | 54961 | SH |  | SOLE |  | 54961 | 0 | 0 |
| WESTERN ASSET HIGH YIELD DEF | COM | 95768B107 | BBG001T9DBJ7 | 200267 | 16047 | SH |  | SOLE |  | 16047 | 0 | 0 |
| WESTERN AST INFL LKD OPP  I | COM | 95766R104 | BBG001SBWXC1 | 195875 | 21454 | SH |  | SOLE |  | 21454 | 0 | 0 |
| WHITE MTNS INS GROUP LTD | COM | G9618E107 | BBG001SBLRT8 | 2446791 | 1730 | SH |  | SOLE |  | 1730 | 0 | 0 |

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