Mad River Investors Portfolio Stock Holdings
Mad River Investors disclosed 31 stock positions valued at approximately $277.2 million in its latest SEC 13F filing. The largest holdings include TEXAS PACIFIC LAND CORPORATI, PERMIAN BASIN RTY TR, and HAWAIIAN ELEC INDS INC MTN B. The filing reflects positions held as of March 31, 2026 and was filed on April 23, 2026.
- Report Period
- March 31, 2026
- No. of Stocks
- 31
- Portfolio Value
- $277.2M
Holdings by Sector
Mad River Investors Portfolio Holdings in Q1 2026
29 holdings in the latest reporting period.
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| Company | Symbol | Sector | Portfolio % | Shares | Change (Shares) | Change % | Value |
|---|---|---|---|---|---|---|---|
| TEXAS PACIFIC LAND CORPORATI | TPL | Energy | 48.82% | 285,120 | -963 | -0.34% | $135,306,578 |
| PERMIAN BASIN RTY TR | PBT | Energy | 7.79% | 1,003,140 | +16,321 | +1.65% | $21,587,576 |
| HAWAIIAN ELEC INDS INC MTN B | HE | Utilities | 7.05% | 1,317,050 | +32,900 | +2.56% | $19,545,022 |
| GRAYSCALE BITCOIN TRUST ETF | GBTC | Other | 6.86% | 360,139 | -315 | -0.09% | $19,000,934 |
| LANDBRIDGE COMPANY LLC | LB | Energy | 6.64% | 266,385 | +3,451 | +1.31% | $18,393,886 |
| WHEATON PRECIOUS METALS CORP | WPM | Basic Materials | 4.22% | 89,271 | -8,333 | -8.54% | $11,695,382 |
| MESABI TR | MSB | Basic Materials | 3.65% | 321,546 | +24,897 | +8.39% | $10,128,689 |
| FRANCO NEV CORP | FNV | Basic Materials | 2.10% | 23,590 | -4 | -0.02% | $5,827,962 |
| FIDELITY WISE ORIGIN BITCOIN | FBTC | Other | 1.50% | 70,339 | -520 | -0.73% | $4,152,084 |
| CARNIVAL CORP | CCL | Consumer Cyclical | 1.46% | 156,181 | +585 | +0.38% | $4,041,952 |
| VANGUARD INDEX FDS | VTI | Other | 1.02% | 8,800 | -3,322 | -27.40% | $2,823,128 |
| GRAYSCALE BITCOIN MINI TR ET | BTC | Other | 0.88% | 81,217 | +3,570 | +4.60% | $2,435,698 |
| CBOE GLOBAL MKTS INC | CBOE | Financial Services | 0.68% | 6,680 | -10 | -0.15% | $1,877,451 |
| APPLE INC | AAPL | Technology | 0.47% | 5,100 | - | - | $1,294,329 |
| INTERCONTINENTAL EXCHANGE IN | ICE | Financial Services | 0.43% | 7,645 | - | - | $1,202,469 |
| ORACLE CORP | ORCL | Technology | 0.43% | 8,050 | - | - | $1,184,236 |
| PALO ALTO NETWORKS INC | PANW | Technology | 0.32% | 5,484 | - | - | $879,195 |
| AMAZON COM INC | AMZN | Consumer Cyclical | 0.26% | 3,500 | - | - | $728,945 |
| ROYAL GOLD INC | RGLD | Basic Materials | 0.23% | 2,463 | -193 | -7.27% | $626,812 |
| CINCINNATI FINL CORP | CINF | Financial Services | 0.20% | 3,600 | - | - | $566,460 |
| CISCO SYS INC | CSCO | Technology | 0.17% | 6,000 | - | - | $465,540 |
| UNITEDHEALTH GROUP INC | UNH | Healthcare | 0.17% | 1,700 | - | - | $460,003 |
| CACI INTL INC | CACI | Technology | 0.16% | 805 | - | - | $437,816 |
| EATON CORP PLC | ETN | Other | 0.15% | 1,200 | - | - | $429,204 |
| JPMORGAN CHASE & CO | JPM | Financial Services | 0.15% | 1,417 | +17 | +1.21% | $416,825 |
| BERKSHIRE HATHAWAY INC DEL | BRK-B | Financial Services | 0.14% | 825 | -300 | -26.67% | $395,340 |
| RLI CORP | RLI | Financial Services | 0.12% | 6,000 | -1,500 | -20.00% | $342,240 |
| JOHNSON & JOHNSON | JNJ | Healthcare | 0.11% | 1,200 | - | - | $293,328 |
| VANGUARD SPECIALIZED FUNDS | VIG | Other | 0.08% | 1,000 | -600 | -37.50% | $215,060 |
Mad River Investors Options Holdings in Q1 2026
1 options positions in the latest reporting period.
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| Quarter | Symbol | Company | Option | Contracts | Notional Value |
|---|---|---|---|---|---|
| Q1 2026 | HE | Hawaiian Electric Industries, I | CALL | 46,900 | $695,996 |
Notional value represents the total exposure of the options position.