Mad River Investors Top Holdings and 13F Report (2026) About Mad River InvestorsInvestment ActivityMad River Investors has $277.87 million in total holdings as of March 31, 2026.Mad River Investors owns shares of 32 different stocks, but just 6 companies or ETFs make up 80% of its holdings.Approximately 7.89% of the portfolio was purchased this quarter.About 1.44% of the portfolio was sold this quarter.This quarter, Mad River Investors has purchased 35 new stocks and bought additional shares in 10 stocks.Mad River Investors sold shares of 11 stocks and completely divested from 3 stocks this quarter.Largest Holdings Texas Pacific Land $135,306,578Permian Basin Royalty Trust $21,587,576Hawaiian Electric Industries $19,545,022GRAYSCALE BITCOIN TRUST ETF $19,000,934LANDBRIDGE COMPANY LLC $18,393,886 Largest Purchases this Quarter Hawaiian Electric Industries 1,302,850 shares (about $19.33M)Mesabi Trust 24,897 shares (about $784.25K)Hawaiian Electric Industries 32,700 shares (about $485.27K)WATERBRIDGE INFRASTRUCTURE L 13,900 shares (about $372.38K)Permian Basin Royalty Trust 16,321 shares (about $351.23K) Largest Sales this Quarter Wheaton Precious Metals 8,333 shares (about $1.09M)Vanguard Total Stock Market ETF 3,322 shares (about $1.07M)Texas Pacific Land 963 shares (about $457.00K)Berkshire Hathaway 300 shares (about $143.76K)Vanguard Dividend Appreciation ETF 600 shares (about $129.04K) 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$135,306,578$457,001 â–¼-0.3%285,12048.7%EnergyPBTPermian Basin Royalty Trust$21,587,576$351,228 â–²1.7%1,003,1407.8%EnergyHEHawaiian Electric Industries$19,545,022$19,334,294 â–²9,175.0%1,317,0507.0%UtilitiesGRAYSCALE BITCOIN TRUST ETF$19,000,934$16,619 â–¼-0.1%360,1396.8%SHS REP COM UTLANDBRIDGE COMPANY LLC$18,393,886$238,292 â–²1.3%266,3856.6%CL AWPMWheaton Precious Metals$11,695,382$1,091,705 â–¼-8.5%89,2714.2%Basic MaterialsMSBMesabi Trust$10,128,689$784,255 â–²8.4%321,5463.6%Basic MaterialsWATERBRIDGE INFRASTRUCTURE L$7,257,419$372,381 â–²5.4%270,9002.6%CL A SHS REPSTGFNVFranco-Nevada$5,827,962$988 â–¼0.0%23,5902.1%Basic MaterialsFIDELITY WISE ORIGIN BITCOIN$4,152,084$30,695 â–¼-0.7%70,3391.5%SHSCCLCarnival$4,041,952$15,140 â–²0.4%156,1811.5%Consumer DiscretionaryMIAMI INTL HLDGS INC$3,162,250$241,304 â–²8.3%81,2501.1%COMVTIVanguard Total Stock Market ETF$2,823,128$1,065,731 â–¼-27.4%8,8001.0%ETFGRAYSCALE BITCOIN MINI TR ET$2,435,698$107,064 â–²4.6%81,2170.9%SHS NEWCBOECboe Global Markets$1,877,451$2,811 â–¼-0.1%6,6800.7%Financial ServicesAAPLApple$1,294,3290.0%5,1000.5%Computer and TechnologyICEIntercontinental Exchange$1,202,4690.0%7,6450.4%FinanceORCLOracle$1,184,2360.0%8,0500.4%Computer and TechnologyPANWPalo Alto Networks$879,1950.0%5,4840.3%Computer and TechnologyAMZNAmazon.com$728,9450.0%3,5000.3%Retail/WholesaleHEHawaiian Electric Industries$695,996$485,268 â–²230.3%46,9000.3%UtilitiesRGLDRoyal Gold$626,812$49,117 â–¼-7.3%2,4630.2%Basic MaterialsCINFCincinnati Financial$566,4600.0%3,6000.2%FinanceCSCOCisco Systems$465,5400.0%6,0000.2%Computer and TechnologyUNHUnitedHealth Group$460,0030.0%1,7000.2%MedicalCACICACI International$437,8160.0%8050.2%Computer and TechnologyETNEaton$429,2040.0%1,2000.2%IndustrialsJPMJPMorgan Chase & Co.$416,825$5,001 â–²1.2%1,4170.2%FinanceBRK.BBerkshire Hathaway$395,340$143,760 â–¼-26.7%8250.1%FinanceRLIRLI$342,240$85,560 â–¼-20.0%6,0000.1%FinanceJNJJohnson & Johnson$293,3280.0%1,2000.1%MedicalVIGVanguard Dividend Appreciation ETF$215,060$129,036 â–¼-37.5%1,0000.1%ETFCCitigroup$0$350,070 â–¼-100.0%00.0%Financial ServicesRSPInvesco S&P 500 Equal Weight ETF$0$288,873 â–¼-100.0%00.0%ETFKIMBERLY-CLARK CORP$0$282,492 â–¼-100.0%00.0%COMShowing 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. 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