account_balance
Investment manager · 13F filer · SEC CIK 1384484
Mad River Investors
Reported value$245Mas of Sep 30, 2026
Positions30 2 new, 1 sold out
Top 10 weight88.9%TPL alone is 38%
FiledOct 2727 days after quarter end
Portfolio · as of Sep 30, 2026
Where the money is
New or addedTrimmedHeld
TPLTexas Pacific Land Corporati
37.8%
PBTPermian Basin Rty Tr
13.6%Added +5%
GBTCGrayscale Bitcoin Trust ETF
9.4%
LBLandbridge Company LLC
8.8%
HEHawaiian Elec Inds Inc MTN B
4.8%
MIAXMiami Intl Hldgs Inc
4.1%Added +3%
WBIWaterbridge Infrastructure L
3.1%
MSB2.6%WPM2.5%FBTC2.3%FNVFranco Nev Corp
2.0%Trimmed −6%
BTC1.2%TPLTexas Pacific Land Corporati
37.8%
PBTPermian Basin Rty Tr
13.6%Added +5%
GBTCGrayscale Bitcoin Trust ETF
9.4%
LBLandbridge Company LLC
8.8%
HE4.8%MIAX4.1%WBI3.1%MSB2.6%WPM2.5%FBTCFNV2.0%BTCBoxes show the top 12 stocks, sized against each other. The bar above shows how much of the fund they are. 13F only covers US-listed stocks, so foreign holdings and short positions are missing.
Show the top 12 as a list
TPL Texas Pacific Land Corporati 37.8% HeldPBT Permian Basin Rty Tr 13.6% Added +5%GBTC Grayscale Bitcoin Trust ETF 9.4% HeldLB Landbridge Company LLC 8.8% HeldHE Hawaiian Elec Inds Inc MTN B 4.8% HeldMIAX Miami Intl Hldgs Inc 4.1% Added +3%WBI Waterbridge Infrastructure L 3.1% HeldMSB Mesabi Tr 2.6% HeldWPM Wheaton Precious Metals Corp 2.5% Trimmed −20%FBTC Fidelity Wise Origin Bitcoin 2.3% Added +11%FNV Franco Nev Corp 2.0% Trimmed −6%BTC Grayscale Bitcoin Mini Tr Et 1.2% Held
What changed