Mad River Investors 13F Holdings · Q2 2026
Mad River Investors reported 29 securities worth $268.11M in its SEC 13F filing for Q2 2026 (period ended 2026-06-30). Top holdings: TPL (46.58%), PBT (9.39%), LB (7.92%). Among its top 25 positions this quarter: 1 new, 10 added, 6 trimmed.
| Rank | Ticker | Company | Value | % Portfolio | Shares | Action |
|---|---|---|---|---|---|---|
| 1 | TPL | TEXAS PACIFIC LAND CORPORATI | $124.9M | 46.58% | 285,330 | Added |
| 2 | PBT | PERMIAN BASIN RTY TR | $25.2M | 9.39% | 1.0M | Added |
| 3 | LB | LANDBRIDGE COMPANY LLC | $21.2M | 7.92% | 267,953 | Added |
| 4 | HE | HAWAIIAN ELEC INDS INC MTN B | $18.5M | 6.92% | 1.3M | Added |
| 5 | GBTC | GRAYSCALE BITCOIN TRUST ETF | $16.4M | 6.11% | 360,139 | Hold |
| 6 | MIAX | MIAMI INTL HLDGS INC | $10.7M | 4.01% | 289,000 | Added |
| 7 | WBI | WATERBRIDGE INFRASTRUCTURE L | $9.2M | 3.42% | 267,801 | Trimmed |
| 8 | MSB | MESABI TR | $8.2M | 3.05% | 323,735 | Added |
| 9 | WPM | WHEATON PRECIOUS METALS CORP | $6.3M | 2.35% | 56,173 | Trimmed |
| 10 | FNV | FRANCO NEV CORP | $4.7M | 1.75% | 22,506 | Trimmed |
| 11 | FBTC | FIDELITY WISE ORIGIN BITCOIN | $3.6M | 1.34% | 70,369 | Added |
| 12 | CCL | CARNIVAL CORP LTD | $2.7M | 1.02% | 95,373 | New |
| 13 | VTI | VANGUARD INDEX FDS | $2.5M | 0.94% | 6,800 | Trimmed |
| 14 | BTC | GRAYSCALE BITCOIN MINI TR ET | $2.1M | 0.79% | 81,517 | Added |
| 15 | PANW | PALO ALTO NETWORKS INC | $1.9M | 0.70% | 5,484 | Hold |
| 16 | CBOE | CBOE GLOBAL MKTS INC | $1.6M | 0.61% | 6,705 | Added |
| 17 | AAPL | APPLE INC | $1.5M | 0.55% | 5,050 | Trimmed |
| 18 | ORCL | ORACLE CORP | $1.2M | 0.44% | 8,050 | Hold |
| 19 | ICE | INTERCONTINENTAL EXCHANGE IN | $965,876 | 0.36% | 7,846 | Added |
| 20 | AMZN | AMAZON COM INC | $810,356 | 0.30% | 3,400 | Trimmed |
| 21 | CSCO | CISCO SYS INC | $704,760 | 0.26% | 6,000 | Hold |
| 22 | UNH | UNITEDHEALTH GROUP INC | $706,571 | 0.26% | 1,700 | Hold |
| 23 | CINF | CINCINNATI FINL CORP | $666,504 | 0.25% | 3,600 | Hold |
| 24 | ETN | EATON CORP PLC | $511,344 | 0.19% | 1,200 | Hold |
| 25 | RLI | RLI CORP | $354,420 | 0.13% | 6,000 | Hold |
Source: SEC Form 13F filings · as of 2026-06-30
Every position in this 13F-HR, with its change from the prior quarter.
13F holdings, latest quarter
SourceSEC EDGAR13F-HR