Latest MAD RIVER INVESTORS Stock Portfolio
MAD RIVER INVESTORS Performance:
2025 Q3: 0.22%YTD: -0.33%2024: 2.47%
Performance for 2025 Q3 is 0.22%, and YTD is -0.33%, and 2024 is 2.47%.
About MAD RIVER INVESTORS and 13F Hedge Fund Stock Holdings
In it's latest 13F Holdings report, MAD RIVER INVESTORS reported an equity portfolio of $233.8 Millions as of 30 Sep, 2025.
The top stock holdings of MAD RIVER INVESTORS are TPL, , PBT. The fund has invested 37.9% of it's portfolio in TEXAS PACIFIC LAND CORPORATI and 13.9% of portfolio in GRAYSCALE BITCOIN TRUST ETF.
The fund managers got completely rid off ARIS WATER SOLUTIONS INC (ARIS), CIVEO CORP CDA (CVEO) and EAGLE MATLS INC (EXP) stocks. They significantly reduced their stock positions in VANGUARD SPECIALIZED FUNDS (VIG), WHEATON PRECIOUS METALS CORP and CARNIVAL CORP (CCL). MAD RIVER INVESTORS opened new stock positions in WATERBRIDGE INFRASTRUCTURE L, ORACLE CORP (ORCL) and APPLE INC (AAPL). The fund showed a lot of confidence in some stocks as they added substantially to GRAYSCALE BITCOIN MINI TR ET, PERMIAN BASIN RTY TR (PBT) and HAWAIIAN ELEC INDUSTRIES (HE).
The top stock holdings of MAD RIVER INVESTORS are TPL, , PBT. The fund has invested 37.9% of it's portfolio in TEXAS PACIFIC LAND CORPORATI and 13.9% of portfolio in GRAYSCALE BITCOIN TRUST ETF.
The fund managers got completely rid off ARIS WATER SOLUTIONS INC (ARIS), CIVEO CORP CDA (CVEO) and EAGLE MATLS INC (EXP) stocks. They significantly reduced their stock positions in VANGUARD SPECIALIZED FUNDS (VIG), WHEATON PRECIOUS METALS CORP and CARNIVAL CORP (CCL). MAD RIVER INVESTORS opened new stock positions in WATERBRIDGE INFRASTRUCTURE L, ORACLE CORP (ORCL) and APPLE INC (AAPL). The fund showed a lot of confidence in some stocks as they added substantially to GRAYSCALE BITCOIN MINI TR ET, PERMIAN BASIN RTY TR (PBT) and HAWAIIAN ELEC INDUSTRIES (HE).
MAD RIVER INVESTORS Annual Return Estimates Vs S&P 500
Our best estimate is that MAD RIVER INVESTORS made a return of 0.22% in the last quarter. In trailing 12 months, it's portfolio return was -1.32%.
New Buys
| Ticker | $ Bought |
|---|---|
| waterbridge infrastructure l | 6,347,870 |
| miami intl hldgs inc | 3,003,400 |
| oracle corp | 2,263,980 |
| apple inc | 1,273,150 |
| palo alto networks inc | 1,116,650 |
| amazon com inc | 746,538 |
| unitedhealth group inc | 587,010 |
| cincinnati finl corp | 569,160 |
New stocks bought by MAD RIVER INVESTORS
Additions
| Ticker | % Inc. |
|---|---|
| grayscale bitcoin mini tr et | 4.97 |
| permian basin rty tr | 4.33 |
| landbridge company llc | 2.68 |
| hawaiian elec industries | 0.35 |
| intercontinental exchange in | 0.32 |
| mesabi tr | 0.04 |
Additions to existing portfolio by MAD RIVER INVESTORS
Reductions
| Ticker | % Reduced |
|---|---|
| vanguard specialized funds | -58.06 |
| wheaton precious metals corp | -15.53 |
| carnival corp | -15.45 |
| sandstorm gold ltd | -12.5 |
| caci intl inc | -5.85 |
| grayscale bitcoin trust etf | -3.07 |
| fidelity wise origin bitcoin | -1.99 |
| franco nev corp | -1.97 |
MAD RIVER INVESTORS reduced stake in above stock
Sold off
| Ticker | $ Sold |
|---|---|
| aris water solutions inc | -2,093,020 |
| civeo corp cda | -1,568,680 |
| eagle matls inc | -248,700 |
MAD RIVER INVESTORS got rid off the above stocks
Sector Distribution
MAD RIVER INVESTORS has about 87.3% of it's holdings in Others sector.
| Sector | % |
|---|---|
| Others | 87.3 |
| Utilities | 5.9 |
| Technology | 2.4 |
| Consumer Cyclical | 2.2 |
| Financial Services | 1.3 |
Market Cap. Distribution
MAD RIVER INVESTORS has about 6.7% of it's portfolio invested in the large-cap and mega-cap stocks.
| Category | % |
|---|---|
| UNALLOCATED | 87.3 |
| SMALL-CAP | 5.8 |
| LARGE-CAP | 4.2 |
| MEGA-CAP | 2.5 |
Stocks belong to which Index?
About 6.4% of the stocks held by MAD RIVER INVESTORS either belong to S&P 500 or RUSSELL 2000 index.
| Index | % |
|---|---|
| Others | 93.6 |
| S&P 500 | 6.4 |
MAD RIVER INVESTORS Holdings Map
This heatmap illustrates the top 50 positions within the fund's portfolio.
Current Stock Holdings of MAD RIVER INVESTORS
MAD RIVER INVESTORS has 37 stocks in it's portfolio. About 86.6% of the portfolio is in top 10 stocks. ICE proved to be the most loss making stock for the portfolio. HE was the most profitable stock for MAD RIVER INVESTORS last quarter.
Last Reported on: 14 Oct, 2025| Ticker | Namesorted ascending | % Portfolio | Shares Held | $ Value | Type | % Change | Options | |
|---|---|---|---|---|---|---|---|---|
| AAPL | apple inc | 0.54 | 5,000 | 1,273,150 | new | |||
| AMZN | amazon com inc | 0.32 | 3,400 | 746,538 | new | |||
| ARIS | aris water solutions inc | 0.00 | 0.00 | 0.00 | sold off | -100 | ||
| C | citigroup inc | 0.13 | 3,000 | 304,500 | new | |||
| CACI | caci intl inc | 0.17 | 805 | 401,518 | reduced | -5.85 | ||
| CCL | carnival corp | 1.92 | 155,396 | 4,492,510 | reduced | -15.45 | ||
| CINF | cincinnati finl corp | 0.24 | 3,600 | 569,160 | new | |||
| CRM | salesforce inc | 0.09 | 900 | 213,300 | new | |||
| CSCO | cisco sys inc | 0.18 | 6,000 | 410,520 | new | |||
| CSD | invesco exchange traded fd t | 0.12 | 1,508 | 286,068 | unchanged | 0.00 | ||
| CVEO | civeo corp cda | 0.00 | 0.00 | 0.00 | sold off | -100 | ||
| ETN | eaton corp plc | 0.19 | 1,200 | 449,100 | new | |||
| EXP | eagle matls inc | 0.00 | 0.00 | 0.00 | sold off | -100 | ||
| FE | firstenergy corp | 0.11 | 5,700 | 261,174 | new | |||
| GLPI | gaming & leisure pptys inc | 0.09 | 4,558 | 212,449 | new | |||
| HE | hawaiian elec industries | 5.81 | 1,230,250 | 13,582,000 | added | 0.35 | ||
| ICE | intercontinental exchange in | 0.56 | 7,720 | 1,300,730 | added | 0.32 | ||
| JNJ | johnson & johnson | 0.10 | 1,200 | 222,504 | new | |||
| JPM | jpmorgan chase & co. | 0.19 | 1,400 | 441,602 | new | |||
| KMB | kimberly-clark corp | 0.15 | 2,800 | 348,152 | new | |||