§ 13F · FUND PROFILE
MAD RIVER INVESTORS.
Institutional filer · behavioral pattern: Other. Summary pending.
AUM · $234M (13F)Positions · 38Turnover · — · Q1Filed · Apr 23, 2026
CONCENTRATION
—
Top 10 holdings
NEW BUYS
0
No new positions
EXITS
0
No exits
SECTOR SHIFT
—
No prior quarter data
3YR HIT RATE
—
Top-5 overlap
§ 01 · TOP HOLDINGS
The book · Q1 2026
FILED APR 23, 2026
| # | Ticker | Name | Shares | $ value | % port | Δ Q1 |
|---|---|---|---|---|---|---|
| 1 | TPL | TEXAS PACIFIC LAND CORPORATI | 285K | $135M | 48.7% | ±0% |
| 2 | PBT | PERMIAN BASIN RTY TR | 1.00M | $22M | 7.8% | +2% |
| 3 | HE | HAWAIIAN ELEC INDS INC MTN B | 1.32M | $20M | 7.0% | +5% |
| 4 | GBTC | GRAYSCALE BITCOIN TRUST ETF | 360K | $19M | 6.8% | ±0% |
| 5 | LB | LANDBRIDGE COMPANY LLC | 266K | $18M | 6.6% | +1% |
| 6 | WPM | WHEATON PRECIOUS METALS CORP | 89K | $12M | 4.2% | −9% |
| 7 | MSB | MESABI TR | 322K | $10M | 3.6% | +8% |
| 8 | WBI | WATERBRIDGE INFRASTRUCTURE L | 271K | $7M | 2.6% | +5% |
| 9 | FNV | FRANCO NEV CORP | 24K | $6M | 2.1% | ±0% |
| 10 | FBTC | FIDELITY WISE ORIGIN BITCOIN | 70K | $4M | 1.5% | −1% |
§ 02 · SECTOR ALLOCATION
Where the money is
Sector data pending
§ 03 · THE MAD SIGNAL
AC read
MAD RIVER INVESTORS is a Other fund managing $234 million in assets. The fund runs a portfolio of 38 positions.
Read the full dossier →§ 04 · FILING HISTORY
Q-by-Q deltas
2 FILINGS
Q1 2026
Steady book
+0 buys · −0 exits · 0 changed
Q4 2025
Steady book
+0 buys · −0 exits · 0 changed
Q3 2025
Steady book
+0 buys · −0 exits · 0 changed
Q2 2025
Steady book
+0 buys · −0 exits · 0 changed