Mad River Investors Top Holdings and 13F Report (2025) About Mad River InvestorsInvestment ActivityMad River Investors has $233.75 million in total holdings as of September 30, 2025.Mad River Investors owns shares of 38 different stocks, but just 8 companies or ETFs make up 80% of its holdings.Approximately 15.42% of the portfolio was purchased this quarter.About 41.70% of the portfolio was sold this quarter.This quarter, Mad River Investors has purchased 24 new stocks and bought additional shares in 6 stocks.Mad River Investors sold shares of 11 stocks and completely divested from 3 stocks this quarter.Largest Holdings Texas Pacific Land $88,483,336GRAYSCALE BITCOIN TRUST ETF $32,402,841Permian Basin Royalty Trust $16,830,700Hawaiian Electric Industries $13,581,960LANDBRIDGE COMPANY LLC $12,860,359 Largest New Holdings this Quarter 940923105 - WATERBRIDGE INFRASTRUCTURE L $6,347,874 Holding59356Q108 - MIAMI INTL HLDGS INC $3,003,396 Holding68389X105 - Oracle $2,263,982 Holding037833100 - Apple $1,273,150 Holding697435105 - Palo Alto Networks $1,116,653 Holding Largest Purchases this Quarter Permian Basin Royalty Trust 914,230 shares (about $16.68M)WATERBRIDGE INFRASTRUCTURE L 251,700 shares (about $6.35M)MIAMI INTL HLDGS INC 74,600 shares (about $3.00M)Oracle 8,050 shares (about $2.26M)Apple 5,000 shares (about $1.27M) Largest Sales this Quarter Texas Pacific Land 94,613 shares (about $88.33M)Wheaton Precious Metals 17,998 shares (about $2.01M)GRAYSCALE BITCOIN TRUST ETF 11,427 shares (about $1.03M)Carnival 28,400 shares (about $821.05K)Vanguard Dividend Appreciation ETF 3,600 shares (about $776.84K) Sector Allocation Over TimeMap of 500 Largest Holdings ofMad River Investors Selling Neutral Buying Latest 13F Holdings and Changes Since Previous Quarterly FilingIssuer NameHoldings ValueApproximate Purchase/SaleChange in SharesShares Held% of PortfolioSectorTPLTexas Pacific Land$88,483,336$225,008 ▼-0.3%94,77237.9%EnergyGRAYSCALE BITCOIN TRUST ETF$32,402,841$1,025,802 ▼-3.1%360,95413.9%SHS REP COM UTPBTPermian Basin Royalty Trust$16,830,700$16,684,700 ▲11,427.9%922,2307.2%EnergyHEHawaiian Electric Industries$13,581,960$48,024 ▲0.4%1,230,2505.8%UtilitiesLANDBRIDGE COMPANY LLC$12,860,359$336,212 ▲2.7%241,0565.5%CL AWPMWheaton Precious Metals$10,952,180$2,012,901 ▼-15.5%97,9274.7%Basic MaterialsMSBMesabi Trust$8,649,963$3,220 ▲0.0%295,5233.7%Basic MaterialsFIDELITY WISE ORIGIN BITCOIN$7,166,757$145,423 ▼-2.0%71,8043.1%SHSWATERBRIDGE INFRASTRUCTURE L$6,347,874$6,347,874 ▲New Holding251,7002.7%CL A SHS REPSTGFNVFranco-Nevada$5,255,925$105,658 ▼-2.0%23,5792.2%Basic MaterialsCCLCarnival$4,492,506$821,045 ▼-15.5%155,3961.9%Consumer DiscretionaryGRAYSCALE BITCOIN MINI TR ET$4,160,723$197,103 ▲5.0%82,1791.8%SHS NEWVTIVanguard Total Stock Market ETF$3,978,0770.0%12,1221.7%ETFMIAMI INTL HLDGS INC$3,003,396$3,003,396 ▲New Holding74,6001.3%COMORCLOracle$2,263,982$2,263,982 ▲New Holding8,0501.0%Computer and TechnologyCBOECboe Global Markets$1,632,054$6,131 ▼-0.4%6,6550.7%Financial ServicesICEIntercontinental Exchange$1,300,733$4,212 ▲0.3%7,7200.6%FinanceAAPLApple$1,273,150$1,273,150 ▲New Holding5,0000.5%Computer and TechnologyPANWPalo Alto Networks$1,116,653$1,116,653 ▲New Holding5,4840.5%Computer and TechnologyAMZNAmazon.com$746,538$746,538 ▲New Holding3,4000.3%Retail/WholesaleBRK.BBerkshire Hathaway$590,7200.0%1,1750.3%FinanceUNHUnitedHealth Group$587,010$587,010 ▲New Holding1,7000.3%MedicalCINFCincinnati Financial$569,160$569,160 ▲New Holding3,6000.2%FinanceVIGVanguard Dividend Appreciation ETF$561,054$776,844 ▼-58.1%2,6000.2%ETFSANDSandstorm Gold$533,252$76,147 ▼-12.5%42,5920.2%Basic MaterialsRLIRLI$489,1500.0%7,5000.2%FinanceETNEaton$449,100$449,100 ▲New Holding1,2000.2%IndustrialsJPMJPMorgan Chase & Co.$441,602$441,602 ▲New Holding1,4000.2%FinanceCSCOCisco Systems$410,520$410,520 ▲New Holding6,0000.2%Computer and TechnologyCACICACI International$401,518$24,939 ▼-5.8%8050.2%Computer and TechnologyTPLTexas Pacific Land$373,456$88,334,481 ▼-99.6%4000.2%EnergyKMBKimberly-Clark$348,152$348,152 ▲New Holding2,8000.1%Consumer StaplesCCitigroup$304,500$304,500 ▲New Holding3,0000.1%Financial ServicesRSPInvesco S&P 500 Equal Weight ETF$286,0680.0%1,5080.1%ETFFEFirstEnergy$261,174$261,174 ▲New Holding5,7000.1%UtilitiesJNJJohnson & Johnson$222,504$222,504 ▲New Holding1,2000.1%MedicalCRMSalesforce$213,300$213,300 ▲New Holding9000.1%Computer and TechnologyGLPIGaming and Leisure Properties$212,449$212,449 ▲New Holding4,5580.1%FinanceARISAris Water Solutions$0$2,093,025 ▼-100.0%00.0%Business ServicesCVEOCiveo$0$1,568,685 ▼-100.0%00.0%Consumer DiscretionaryEXPEagle Materials$0$248,700 ▼-100.0%00.0%ConstructionShowing largest 100 holdings. View all holdings. More Institutional Buying and Selling Information SEC Filings and Trading Data SEC Filings 13F Filings Top 13F Buys Top 13F Sells Get 30 Days of MarketBeat All Access for Free Sign up for MarketBeat All Access to gain access to MarketBeat's full suite of research tools. Start Your 30-Day Trial MarketBeat All Access Features Best-in-Class Portfolio Monitoring Get personalized stock ideas. Compare portfolio to indices. Check stock news, ratings, SEC filings, and more. Stock Ideas and Recommendations See daily stock ideas from top analysts. Receive short-term trading ideas from MarketBeat. Identify trending stocks on social media. Advanced Stock Screeners and Research Tools Use our seven stock screeners to find suitable stocks. Stay informed with MarketBeat's real-time news. Export data to Excel for personal analysis. Sign in to your free account to enjoy these benefits In-depth profiles and analysis for 20,000 public companies. Real-time analyst ratings, insider transactions, earnings data, and more. Our daily ratings and market update email newsletter. Sign in to your free account to enjoy all that MarketBeat has to offer. Sign In Create Account Your Email Address: Email Address Required Your Password: Password Required Log In or Sign in with Facebook Sign in with Google Forgot your password? Your Email Address: Please enter your email address. Please enter a valid email address Choose a Password: Please enter your password. Your password must be at least 8 characters long and contain at least 1 number, 1 letter, and 1 special character. Create My Account (Free) or Sign in with Facebook Sign in with Google By creating a free account, you agree to our terms of service. This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.
