Holders — by stockHoldings — by fund
MAD RIVER INVESTORS
Everything this manager disclosed owning in US-listed stocks — its complete Form 13F portfolio · as of 2026-06-30 · filed with the SEC up to 45 days after quarter end · CIK 0001384484
$268.1M
disclosed book value
29
positions
46.6%
largest position share
Positions, as of 2026-06-30
top 30 of 29 · 13F covers long US-listed positions only — cash, bonds, private and foreign stakes are not disclosed · PUT/CALL tags = options positions (share-equivalents), not shares held
| # | Issuer | Shares | Value | % of book |
|---|---|---|---|---|
| 1 | TPLTEXAS PACIFIC LAND CORPORATI | 285,330 | $124.9M | 46.6% |
| 2 | PBTPERMIAN BASIN RTY TR | 1.0M | $25.2M | 9.4% |
| 3 | LBLANDBRIDGE COMPANY LLC | 267,953 | $21.2M | 7.9% |
| 4 | HEHAWAIIAN ELEC INDS INC MTN B | 1.3M | $17.9M | 6.7% |
| 5 | GBTCGRAYSCALE BITCOIN TRUST ETF | 360,139 | $16.4M | 6.1% |
| 6 | MIAXMIAMI INTL HLDGS INC | 289,000 | $10.7M | 4% |
| 7 | WBIWATERBRIDGE INFRASTRUCTURE L | 267,801 | $9.2M | 3.4% |
| 8 | MSBMESABI TR | 323,735 | $8.2M | 3.1% |
| 9 | WPMWHEATON PRECIOUS METALS CORP | 56,173 | $6.3M | 2.4% |
| 10 | FNVFRANCO NEV CORP | 22,506 | $4.7M | 1.7% |
| 11 | FBTCFIDELITY WISE ORIGIN BITCOIN | 70,369 | $3.6M | 1.3% |
| 12 | CARNIVAL CORP LTD | 95,373 | $2.7M | 1% |
| 13 | VTIVANGUARD INDEX FDS | 6,800 | $2.5M | 0.9% |
| 14 | BTCGRAYSCALE BITCOIN MINI TR ET | 81,517 | $2.1M | 0.8% |
| 15 | PANWPALO ALTO NETWORKS INC | 5,484 | $1.9M | 0.7% |
| 16 | CBOECBOE GLOBAL MKTS INC | 6,705 | $1.6M | 0.6% |
| 17 | AAPLAPPLE INC | 5,050 | $1.5M | 0.5% |
| 18 | ORCLORACLE CORP | 8,050 | $1.2M | 0.4% |
| 19 | ICEINTERCONTINENTAL EXCHANGE IN | 7,846 | $965,876 | 0.4% |
| 20 | AMZNAMAZON COM INC | 3,400 | $810,356 | 0.3% |
| 21 | UNHUNITEDHEALTH GROUP INC | 1,700 | $706,571 | 0.3% |
| 22 | CSCOCISCO SYS INC | 6,000 | $704,760 | 0.3% |
| 23 | CINFCINCINNATI FINL CORP | 3,600 | $666,504 | 0.2% |
| 24 | HEHAWAIIAN ELEC INDS INC MTN BCALL | 48,800 | $660,264 | 0.2% |
| 25 | EATON CORP PLC | 1,200 | $511,344 | 0.2% |
| 26 | RLIRLI CORP | 6,000 | $354,420 | 0.1% |
| 27 | BRK/BBERKSHIRE HATHAWAY INC DEL | 625 | $312,744 | 0.1% |
| 28 | JNJJOHNSON & JOHNSON | 1,200 | $304,764 | 0.1% |
| 29 | CACICACI INTL INC | 455 | $210,784 | 0.1% |
| 30 | FRMIFERMI INC | 16,500 | $151,140 | 0.1% |
Source: SEC Form 13F-HR, reporting period 2026-06-30. Values are the manager's filed June-30-style quarter-end marks, not live prices. Research, not investment advice.