Mad River Investors Top Holdings and 13F Report (2025) About Mad River InvestorsInvestment ActivityMad River Investors has $236.05 million in total holdings as of March 31, 2025.Mad River Investors owns shares of 24 different stocks, but just 5 companies or ETFs make up 80% of its holdings.Approximately 7.22% of the portfolio was purchased this quarter.About 7.31% of the portfolio was sold this quarter.This quarter, Mad River Investors has purchased 26 new stocks and bought additional shares in 9 stocks.Mad River Investors sold shares of 11 stocks and completely divested from 3 stocks this quarter.Largest Holdings Texas Pacific Land $126,116,410GRAYSCALE BITCOIN TRUST ETF $24,274,587LANDBRIDGE COMPANY LLC $16,852,165Hawaiian Electric Industries $13,314,105Wheaton Precious Metals $11,473,134 Largest New Holdings this Quarter 04041L106 - Aris Water Solutions $2,399,796 Holding Largest Purchases this Quarter Hawaiian Electric Industries 1,095,600 shares (about $12.00M)Aris Water Solutions 74,900 shares (about $2.40M)Permian Basin Royalty Trust 225,400 shares (about $2.23M)RLI 3,500 shares (about $281.16K)LANDBRIDGE COMPANY LLC 801 shares (about $57.62K) Largest Sales this Quarter CACI International 15,455 shares (about $5.67M)Civeo 137,269 shares (about $3.16M)Berkshire Hathaway 4,825 shares (about $2.57M)Texas Pacific Land 755 shares (about $1.00M)Sandstorm Gold 118,735 shares (about $896.45K) 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$126,116,410$1,000,367 ▼-0.8%95,18353.4%EnergyGRAYSCALE BITCOIN TRUST ETF$24,274,587$868,390 ▼-3.5%372,48110.3%SHS REP COM UTLANDBRIDGE COMPANY LLC$16,852,165$57,624 ▲0.3%234,2537.1%CL AHEHawaiian Electric Industries$13,314,105$11,996,820 ▲910.7%1,215,9005.6%UtilitiesWPMWheaton Precious Metals$11,473,134$23,289 ▲0.2%147,7934.9%Basic MaterialsMSBMesabi Trust$8,063,636$42,323 ▲0.5%296,4573.4%Basic MaterialsFIDELITY WISE ORIGIN BITCOIN$5,401,565$89,603 ▼-1.6%75,0532.3%SHSPBTPermian Basin Royalty Trust$4,674,475$2,233,713 ▲91.5%471,6932.0%EnergyFNVFranco-Nevada$4,380,482$716,740 ▼-14.1%27,8021.9%Basic MaterialsCCLCarnival Co. &$3,673,520$93,744 ▼-2.5%188,0961.6%Consumer DiscretionaryVTIVanguard Total Stock Market ETF$3,331,6110.0%12,1221.4%ETFGRAYSCALE BITCOIN MINI TR ET$2,856,657$7,298 ▲0.3%78,2861.2%SHS NEWARISAris Water Solutions$2,399,796$2,399,796 ▲New Holding74,9001.0%Business ServicesCVEOCiveo$1,828,429$3,157,184 ▼-63.3%79,4970.8%Consumer DiscretionaryCBOECboe Global Markets$1,406,314$2,263 ▲0.2%6,2150.6%Financial ServicesICEIntercontinental Exchange$1,297,269$8,625 ▲0.7%7,5200.5%FinanceVIGVanguard Dividend Appreciation ETF$1,202,738$555,781 ▼-31.6%6,2000.5%ETFBRK.BBerkshire Hathaway$1,011,902$2,569,699 ▼-71.7%1,9000.4%FinanceRLIRLI$722,970$281,155 ▲63.6%9,0000.3%FinanceSANDSandstorm Gold$485,946$896,445 ▼-64.8%64,3640.2%Basic MaterialsEXPEagle Materials$467,277$725,544 ▼-60.8%2,1060.2%ConstructionCACICACI International$313,717$5,670,756 ▼-94.8%8550.1%Computer and TechnologyRSPInvesco S&P 500 Equal Weight ETF$261,2310.0%1,5080.1%ETFDISWalt Disney$236,8800.0%2,4000.1%Consumer DiscretionaryTRCTejon Ranch$0$442,010 ▼-100.0%00.0%FinanceACWXiShares MSCI ACWI ex U.S. ETF$0$404,084 ▼-100.0%00.0%ManufacturingRCGRENN Fund$0$62,440 ▼-100.0%00.0%Financial ServicesShowing 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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