Mad River Investors Portfolio Stock Holdings
According to the SEC 13F filed on October 27, 2026, Mad River Investors disclosed 29 stock positions valued at approximately $245.25M as of quarter-end September 30, 2026. The largest holdings include TEXAS PACIFIC LAND CORPORATI, PERMIAN BASIN RTY TR, and GRAYSCALE BITCOIN TRUST ETF.
- Report Period
- September 30, 2026
- No. of Stocks
- 29
- Portfolio Value
- $245.25M
Holdings by Sector
Mad River Investors Portfolio Holdings in Q3 2026
| Company | Symbol | Sector | Portfolio % | Shares | Change (Shares) | Change % | Value |
|---|---|---|---|---|---|---|---|
| TEXAS PACIFIC LAND CORPORATI | TPL | Energy | 37.83% | 284,771 | -559 | -0.20% | $92,786,840 |
| PERMIAN BASIN RTY TR | PBT | Energy | 13.56% | 1,056,366 | +51,214 | +5.10% | $33,254,393 |
| GRAYSCALE BITCOIN TRUST ETF | GBTC | Other | 9.36% | 355,444 | -4,695 | -1.30% | $22,958,128 |
| LANDBRIDGE COMPANY LLC | LB | Energy | 8.83% | 266,705 | -1,248 | -0.47% | $21,648,413 |
| HAWAIIAN ELEC INDS INC MTN B | HE | Utilities | 4.81% | 1,319,050 | -2,800 | -0.21% | $11,792,307 |
| MIAMI INTL HLDGS INC | MIAX | Financial Services | 4.06% | 297,157 | +8,157 | +2.82% | $9,954,760 |
| WATERBRIDGE INFRASTRUCTURE L | WBI | Energy | 3.08% | 268,751 | +950 | +0.35% | $7,557,272 |
| MESABI TR | MSB | Basic Materials | 2.61% | 327,316 | +3,581 | +1.11% | $6,412,120 |
| WHEATON PRECIOUS METALS CORP | WPM | Basic Materials | 2.45% | 45,024 | -11,149 | -19.85% | $6,020,563 |
| FIDELITY WISE ORIGIN BITCOIN | FBTC | Other | 2.32% | 78,429 | +8,060 | +11.45% | $5,697,049 |
| FRANCO NEV CORP | FNV | Basic Materials | 2.04% | 21,057 | -1,449 | -6.44% | $5,013,851 |
| GRAYSCALE BITCOIN MINI TR ET | BTC | Other | 1.23% | 81,517 | - | - | $3,012,054 |
| SAN JUAN BASIN RTY TR | SJT | Energy | 0.89% | 597,500 | +597,500 | +100.00% | $2,180,875 |
| PALO ALTO NETWORKS INC | PANW | Technology | 0.89% | 5,484 | - | - | $2,178,849 |
| FERMI INC | FRMI | Real Estate | 0.83% | 483,200 | +466,700 | +2828.48% | $2,034,272 |
| APPLE INC | AAPL | Technology | 0.79% | 5,847 | +797 | +15.78% | $1,947,168 |
| CBOE GLOBAL MKTS INC | CBOE | Financial Services | 0.75% | 6,680 | -25 | -0.37% | $1,838,842 |
| VANGUARD INDEX FDS | VTI | Other | 0.70% | 4,600 | -2,200 | -32.35% | $1,721,504 |
| INTERCONTINENTAL EXCHANGE IN | ICE | Financial Services | 0.50% | 8,001 | +155 | +1.98% | $1,216,346 |
| ORACLE CORP | ORCL | Technology | 0.45% | 8,050 | - | - | $1,105,265 |
| AMAZON COM INC | AMZN | Consumer Cyclical | 0.35% | 3,400 | - | - | $847,110 |
| CISCO SYS INC | CSCO | Technology | 0.26% | 6,000 | - | - | $645,780 |
| UNITEDHEALTH GROUP INC | UNH | Healthcare | 0.25% | 1,700 | - | - | $624,036 |
| CINCINNATI FINL CORP | CINF | Financial Services | 0.23% | 3,600 | - | - | $573,732 |
| EATON CORP PLC | ETN | Industrials | 0.21% | 1,200 | - | - | $515,652 |
| BERKSHIRE HATHAWAY INC DEL | BRK-B | Financial Services | 0.16% | 775 | +150 | +24.00% | $385,912 |
| RLI CORP | RLI | Financial Services | 0.14% | 6,000 | - | - | $331,860 |
| JOHNSON & JOHNSON | JNJ | Healthcare | 0.13% | 1,200 | - | - | $317,688 |
| ROYAL GOLD INC | RGLD | Basic Materials | 0.09% | 940 | -1,523 | -61.84% | $221,840 |
Showing 29 of 29 holdings in the latest reporting period.
Mad River Investors Options Holdings in Q3 2026
| Quarter | Symbol | Company | Option | Contracts | Notional Value |
|---|---|---|---|---|---|
| Q3 2026 | HE | Hawaiian Electric Industries, I | CALL | 48,800 | $436,272 |
Showing 1 of 1 options positions in the latest reporting period.
Notional value represents the total exposure of the options position.