Terminal · Institutions
Every 13F-reported equity position this quarter, with its quarter-over-quarter change — each row traces back to the SEC filing.
Every 13F-reported equity position this quarter, with its quarter-over-quarter change — each row traces back to the SEC filing.
MAD RIVER INVESTORS (CIK 1384484) reported $277.9M across 28 reported positions in its SEC 13F filing for 2026-03-31. Largest positions: TPL ($135.3M, 48.69%), PBT ($21.6M, 7.77%), HE ($20.2M, 7.28%), GBTC ($19.0M, 6.84%), LB ($18.4M, 6.62%). Source: SEC Form 13F.
| Rank | Ticker | Company | Value | % Portfolio | Shares | Action |
|---|---|---|---|---|---|---|
| 1 | TPL | TEXAS PACIFIC LAND CORPORATI | $135.3M | 48.69% | 285,120 | Trimmed |
| 2 | PBT | PERMIAN BASIN RTY TR | $21.6M | 7.77% | 1.0M | Added |
| 3 | HE | HAWAIIAN ELEC INDS INC MTN B | $20.2M | 7.28% | 1.4M | Added |
| 4 | GBTC | GRAYSCALE BITCOIN TRUST ETF | $19.0M | 6.84% | 360,139 | Trimmed |
| 5 | LB | LANDBRIDGE COMPANY LLC | $18.4M | 6.62% | 266,385 | Added |
| 6 | WPM | WHEATON PRECIOUS METALS CORP | $11.7M | 4.21% | 89,271 | Trimmed |
| 7 | MSB | MESABI TR | $10.1M | 3.65% | 321,546 | Added |
| 8 | WATERBRIDGE INFRASTRUCTURE L | $7.3M | 2.61% | 270,900 | Added | |
| 9 | FNV | FRANCO NEV CORP | $5.8M | 2.10% | 23,590 | Trimmed |
| 10 | FBTC | FIDELITY WISE ORIGIN BITCOIN | $4.2M | 1.49% | 70,339 | Trimmed |
| 11 | CCL | CARNIVAL CORP | $4.0M | 1.45% | 156,181 | Added |
| 12 | MIAMI INTL HLDGS INC | $3.2M | 1.14% | 81,250 | Added | |
| 13 | VTI | VANGUARD INDEX FDS | $2.8M | 1.02% | 8,800 | Trimmed |
| 14 | BTC | GRAYSCALE BITCOIN MINI TR ET | $2.4M | 0.88% | 81,217 | Added |
| 15 | CBOE | CBOE GLOBAL MKTS INC | $1.9M | 0.68% | 6,680 | Trimmed |
| 16 | AAPL | APPLE INC | $1.3M | 0.47% | 5,100 | Hold |
| 17 | ICE | INTERCONTINENTAL EXCHANGE IN | $1.2M | 0.43% | 7,645 | Hold |
| 18 | ORCL | ORACLE CORP | $1.2M | 0.43% | 8,050 | Hold |
| 19 | PANW | PALO ALTO NETWORKS INC | $879,195 | 0.32% | 5,484 | Hold |
| 20 | AMZN | AMAZON COM INC | $728,945 | 0.26% | 3,500 | Hold |
| 21 | RGLD | ROYAL GOLD INC | $626,812 | 0.23% | 2,463 | Trimmed |
| 22 | CINF | CINCINNATI FINL CORP | $566,460 | 0.20% | 3,600 | Hold |
| 23 | CSCO | CISCO SYS INC | $465,540 | 0.17% | 6,000 | Hold |
| 24 | UNH | UNITEDHEALTH GROUP INC | $460,003 | 0.17% | 1,700 | Hold |
| 25 | CACI | CACI INTL INC | $437,816 | 0.16% | 805 | Hold |
Source: SEC Form 13F filings · as of 2026-03-31