Mad River Investors Top Holdings and 13F Report (2025) About Mad River InvestorsInvestment ActivityMad River Investors has $215.20 million in total holdings as of December 31, 2024.Mad River Investors owns shares of 26 different stocks, but just 6 companies or ETFs make up 80% of its holdings.Approximately 2.13% of the portfolio was purchased this quarter.About 3.24% of the portfolio was sold this quarter.This quarter, Mad River Investors has purchased 26 new stocks and bought additional shares in 4 stocks.Mad River Investors sold shares of 13 stocks and completely divested from 2 stocks this quarter.Largest Holdings Texas Pacific Land $106,103,272GRAYSCALE BITCOIN TRUST ETF $28,557,361LANDBRIDGE COMPANY LLC $15,080,983Wheaton Precious Metals $8,294,980Mesabi Trust $8,289,663 Largest New Holdings this Quarter GRAYSCALE BITCOIN MINI TR ET $3,269,461 HoldingHawaiian Electric Industries $1,170,519 Holding Largest Purchases this Quarter GRAYSCALE BITCOIN MINI TR ET 78,086 shares (about $3.27M)Hawaiian Electric Industries 120,300 shares (about $1.17M)LANDBRIDGE COMPANY LLC 902 shares (about $58.27K)Mesabi Trust 1,832 shares (about $51.50K)Cboe Global Markets 125 shares (about $24.42K) Largest Sales this Quarter Texas Pacific Land 1,840 shares (about $2.03M)Tejon Ranch 28,600 shares (about $454.75K)FIDELITY WISE ORIGIN BITCOIN 4,851 shares (about $395.74K)Permian Basin Royalty Trust 30,089 shares (about $333.39K)Civeo 13,492 shares (about $306.54K) 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$106,103,272$2,034,960 ▼-1.9%95,93849.3%EnergyGRAYSCALE BITCOIN TRUST ETF$28,557,361$291,565 ▼-1.0%385,80613.3%SHS REP COM UTLANDBRIDGE COMPANY LLC$15,080,983$58,269 ▲0.4%233,4527.0%CL AWPMWheaton Precious Metals$8,294,980$11,529 ▲0.1%147,4933.9%Basic MaterialsMSBMesabi Trust$8,289,663$51,497 ▲0.6%294,9013.9%Basic MaterialsCACICACI International$6,590,089$101,013 ▼-1.5%16,3103.1%Computer and TechnologyFIDELITY WISE ORIGIN BITCOIN$6,224,391$395,745 ▼-6.0%76,2982.9%SHSCVEOCiveo$4,924,923$306,538 ▼-5.9%216,7662.3%Consumer DiscretionaryCCLCarnival Co. &$4,806,975$166,964 ▼-3.4%192,8962.2%Consumer DiscretionaryFNVFranco-Nevada$3,804,153$29,280 ▼-0.8%32,3511.8%Basic MaterialsVTIVanguard Total Stock Market ETF$3,513,0770.0%12,1221.6%ETFGRAYSCALE BITCOIN MINI TR ET$3,269,461$3,269,461 ▲New Holding78,0861.5%SHS NEWBRK.BBerkshire Hathaway$3,048,308$226,640 ▼-6.9%6,7251.4%FinancePBTPermian Basin Royalty Trust$2,728,930$333,387 ▼-10.9%246,2931.3%EnergyVIGVanguard Dividend Appreciation ETF$1,775,1990.0%9,0650.8%ETFEXPEagle Materials$1,326,463$73,034 ▼-5.2%5,3760.6%ConstructionCBOECboe Global Markets$1,212,390$24,424 ▲2.1%6,2050.6%Financial ServicesHEHawaiian Electric Industries$1,170,519$1,170,519 ▲New Holding120,3000.5%UtilitiesICEIntercontinental Exchange$1,113,164$23,098 ▼-2.0%7,4700.5%FinanceSANDSandstorm Gold$1,021,696$56,637 ▼-5.3%183,0990.5%Basic MaterialsRLIRLI$906,5650.0%5,5000.4%FinanceTRCTejon Ranch$442,010$454,746 ▼-50.7%27,7990.2%FinanceACWXiShares MSCI ACWI ex U.S. ETF$404,0840.0%7,7470.2%ManufacturingDISWalt Disney$267,2400.0%2,4000.1%Consumer DiscretionaryRSPInvesco S&P 500 Equal Weight ETF$264,2470.0%1,5080.1%ETFRCGRENN Fund$62,4400.0%28,0000.0%Financial ServicesGRAYSCALE BITCOIN MINI TR BT$0$2,198,205 ▼-100.0%00.0%SHSCMECME Group$0$290,735 ▼-100.0%00.0%FinanceShowing 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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