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CIK: 0001384484
Total reported value
$268.1M
$268.1M
34 檔
56.8%
The Q4 2025 SEC filing reveals that Mad River Investors held a total portfolio value of $268.1M, covering 34 public equity positions.
Mad River Investors executed strategic sector rebalancing during Q4 2025, establishing 1 new positions while fully exiting 4 holdings and trimming 7 positions.
In terms of portfolio concentration, the top 5 core holdings (including TPL, GBTC, PBT) accounted for 56.8% of total reported equity market value during Q4 2025.
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | TPL | Texas Pacific Land CORP | Stock-Energy | 37.41% | -2.11% | +200.60% | |
| 2 | GBTC | Grayscale Bitcoin Trust ETF | ETF-Crypto | 11.22% | -0.73% | -0.14% | |
| 3 | PBT | Permian Basin Royalty Trust | Stock-Other | 7.63% | +1.62% | +7.00% | |
| 4 | HE | Hawaiian Electric Inds | Stock-Utilities | 7.27% | -0.36% | +5.54% | |
| 5 | LB | Landbridge Co Llc-a | Stock-Other | 5.87% | +1.30% | +9.08% | |
| 6 | WPM | Wheaton Precious Metals CORP | Stock-Materials | 5.22% | -1.86% | -0.33% | |
| 7 | MSB | Mesabi Trust | Stock-Other | 5.20% | -0.60% | +0.38% | |
| 8 | FBTC | Fidelity Wise Origin Bitcoin | ETF-Crypto | 2.46% | -0.15% | -1.32% | |
| 9 | WBI | Waterbridge Infrastruc-cl A | Stock-Other | 2.34% | +0.81% | +2.11% | |
| 10 | FNV | Franco-nevada CORP | Stock-Materials | 2.23% | -0.35% | +0.06% | |
| 11 | CCL1EUR | Carnival CORP LTD | Stock-Consumer Disc | 2.16% | -1.45% | EXIT | |
| 12 | VTI | Vanguard Total Stock Mkt ETF | ETF-Other | 1.85% | -0.08% | — | |
| 13 | MIAX | Miami International Holdings | Stock-Other | 1.52% | +2.87% | +0.60% | |
| 14 | BTC | Grayscale Bitcoin Mini ETF | ETF-Crypto | 1.37% | -0.09% | -5.51% | |
| 15 | CBOE | Cboe Global Markets Inc | Stock-Financials | 0.76% | -0.07% | +0.53% | |
| 16 | ORCL | Oracle CORP | Stock-Tech | 0.71% | +0.01% | — | |
| 17 | AAPL | Apple Inc | Stock-Tech | 0.63% | +0.08% | +2.00% | |
| 18 | ICE | Intercontinental Exchange In | Stock-Financials | 0.56% | -0.07% | -0.97% | |
| 19 | PANW | Palo Alto Networks Inc | Stock-Tech | 0.46% | +0.38% | — | |
| 20 | AMZN | Amazon.com Inc | Stock-Consumer Disc | 0.37% | +0.04% | +2.94% | |
| 21 | RGLD | Royal Gold Inc | Stock-Materials | 0.27% | -0.23% | EXIT | |
| 22 | CINF | Cincinnati Financial CORP | Stock-Financials | 0.27% | +0.05% | — | |
| 23 | BRK-B | Berkshire Hathaway Inc-cl B | Stock-Other | 0.26% | -0.02% | -4.26% | |
| 24 | UNH | Unitedhealth Group Inc | Stock-Healthcare | 0.26% | +0.09% | — | |
| 25 | RLI | Rli CORP | Stock-Financials | 0.22% | +0.01% | — | |
| 26 | CSCO | Cisco Systems Inc | Stock-Tech | 0.21% | +0.09% | — | |
| 27 | JPM | Jpmorgan Chase & Co | Stock-Financials | 0.21% | -0.15% | EXIT | |
| 28 | CACI | Caci International Inc -cl A | Stock-Tech | 0.20% | -0.08% | — | |
| 29 | ETN | Eaton Corporation plc | Stock-Industrials | 0.17% | +0.04% | — | |
| 30 | VIG | Vanguard Dividend Apprec ETF | ETF-Other | 0.16% | -0.08% | EXIT | |
| 31 | C | Citigroup Inc | Stock-Financials | 0.16% | — | — | |
| 32 | RSP | Invesco S&p 500 Equal Weight | ETF-Large Cap & Growth | 0.13% | — | — | |
| 33 | KMB | Kimberly-clark CORP | Stock-Consumer Staples | 0.13% | — | — | |
| 34 | JNJ | Johnson & Johnson | Stock-Healthcare | 0.11% | — | — |
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | MSB | Mesabi Trust | +1.5% | +0.38% | Add |
| 2 | HE | Hawaiian Electric Inds | +1.5% | +5.54% | Add |
| 3 | WPM | Wheaton Precious Metals CORP | +0.5% | -0.33% | Trim |
| 4 | PBT | Permian Basin Royalty Trust | +0.4% | +7.00% | Add |
| 5 | LB | Landbridge Co Llc-a | +0.4% | +9.08% | Add |
| 6 | MIAX | Miami International Holdings | +0.2% | +0.60% | Add |
| 7 | CCL1EUR | Carnival CORP LTD | +0.2% | +0.13% | Add |
| 8 | VTI | Vanguard Total Stock Mkt ETF | +0.2% | — | Unchanged |
| 9 | AAPL | Apple Inc | +0.1% | +2.00% | Add |
| 10 | CBOE | Cboe Global Markets Inc | +0.1% | +0.53% | Add |
| 11 | AMZN | Amazon.com Inc | +0.1% | +2.94% | Add |
| 12 | CSCO | Cisco Systems Inc | 0% | — | Unchanged |
| 13 | C | Citigroup Inc | 0% | — | Unchanged |
| 14 | CACI | Caci International Inc -cl A | 0% | — | Unchanged |
| 15 | CINF | Cincinnati Financial CORP | 0% | — | Unchanged |
| 16 | JPM | Jpmorgan Chase & Co | 0% | — | Unchanged |
| 17 | JNJ | Johnson & Johnson | 0% | — | Unchanged |
| 18 | UNH | Unitedhealth Group Inc | 0% | — | Unchanged |
| 19 | BRK-B | Berkshire Hathaway Inc-cl B | 0% | -4.26% | Trim |
| 20 | RLI | Rli CORP | 0% | — | Unchanged |
| 21 | RSP | Invesco S&p 500 Equal Weight | 0% | — | Unchanged |
| 22 | ICE | Intercontinental Exchange In | — | -0.97% | Trim |
| 23 | FNV | Franco-nevada CORP | 0% | +0.06% | Add |
| 24 | PANW | Palo Alto Networks Inc | 0% | — | Unchanged |
| 25 | ETN | Eaton Corporation plc | 0% | — | Unchanged |
| 26 | KMB | Kimberly-clark CORP | 0% | — | Unchanged |
| 27 | VIG | Vanguard Dividend Apprec ETF | -0.1% | -38.46% | Trim |
| 28 | ORCL | Oracle CORP | -0.3% | — | Unchanged |
| 29 | WBI | Waterbridge Infrastruc-cl A | -0.4% | +2.11% | Add |
| 30 | BTC | Grayscale Bitcoin Mini ETF | -0.4% | -5.51% | Trim |
| 31 | TPL | Texas Pacific Land CORP | -0.6% | +200.60% | Add |
| 32 | FBTC | Fidelity Wise Origin Bitcoin | -0.6% | -1.32% | Trim |
| 33 | GBTC | Grayscale Bitcoin Trust ETF | -2.6% | -0.14% | Trim |
| 34 | RGLD | Royal Gold Inc | — | NEW | New buy |
| 35 | AYS1 | Sandstorm Gold LTD | — | EXIT | Sold out |
| 36 | FE | Firstenergy CORP | — | EXIT | Sold out |
| 37 | CRM | Salesforce Inc | — | EXIT | Sold out |
| 38 | GLPI | Gaming And Leisure Propertie | — | EXIT | Sold out |
According to official SEC Form 13F filings, Mad River Investors reported a total U.S. public equity portfolio value of $268.1M across 34 disclosed positions in Q4 2025.
During Q4 2025, Mad River Investors's top holdings by market value included TPL (37.4%)、GBTC (11.2%)、PBT (7.6%). The largest single position, TPL, represented 37.4% of total portfolio value.
Expert Analysis & Guides for Tracking Wall Street Smart Money Movements
Learn how SEC Form 13F filings work, the $100M threshold, 45-day reporting lag, and how to track top hedge fund holdings.
Top New Position Initiated
RGLD
市值: $590.5K
Top Position Liquidated / Trimmed
AYS1
前期市值: $533.3K
In Q4 2025, Mad River Investors made 24 total portfolio adjustments, initiating 1 new buys, adding to 12 positions, trimming 7 holdings, and fully liquidating 4 stocks.
All holding records on this page are fetched directly from the U.S. Securities and Exchange Commission (SEC) EDGAR system (Form 13F-HR). AlphaSMO parses CUSIP identifiers and formats data into Schema.org-compliant datasets.
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