Mad River Investors’s Grayscale Bitcoin Trust GBTC Stock Holding History

Mad River Investors’s Portfolio GBTC Stock Details GBTC Fund Activity

Bought

Maintained

Sold

Quarter	Market Value	Status	Shares	Change in Stake	Trade Value	Portfolio Weight	Portfolio Position
2026 Q2	$16.4M	Hold	360,139	–	–	6.11%	5
2026 Q1	$19M	Sell	360,139 -315	-0.1%	-$18.8K	6.84%	4
2025 Q4	$24.6M	Sell	360,454 -500	-0.1%	-$39.2K	11.22%	2
2025 Q3	$32.4M	Sell	360,954 -11,427	-3%	-$1.03M	13.86%	2
2025 Q2	$31.6M	Sell	372,381 -100	-0%	-$7.78K	14.15%	2
2025 Q1	$24.3M	Sell	372,481 -13,325	-3%	-$982K	10.28%	2
2024 Q4	$28.6M	Sell	385,806 -3,939	-1%	-$260K	13.27%	2
2024 Q3	$19.7M	Buy	389,745 +49,278	+14%	+$2.4M	10.92%	2
2024 Q2	$16.4M	Sell	340,467 -102,029	-23%	-$5.37M	10.97%	2
2024 Q1	$25.3M	Buy	+442,496	New	+$19.5M	17.53%	2

Other funds holding GBTC

HKAM

Horizon Kinetics Asset Management New York $8.82B AUM 23.05% 1-Year Est. Return

LPL Financial San Diego, California $445B AUM 25.58% 1-Year Est. Return

HighTower Advisors Chicago, Illinois $104B AUM 28.3% 1-Year Est. Return

Virtu Financial New York $3.18B AUM 65.92% 1-Year Est. Return

ECM

EagleClaw Capital Management Boston, Massachusetts $745M AUM 23.99% 1-Year Est. Return

Jane Street New York $1.21T AUM 78.12% 1-Year Est. Return

Citadel Advisors Miami, Florida $875B AUM 40.89% 1-Year Est. Return

Moors & Cabot Boston, Massachusetts $2.57B AUM 37.84% 1-Year Est. Return

Mariner Overland Park, Kansas $95.2B AUM 32.92% 1-Year Est. Return

KWA

Kingswood Wealth Advisors San Diego, California $2.48B AUM 36.19% 1-Year Est. Return

Mad River Investors's GBTC Position: Q2 2026 in Review

Mad River Investors held its Grayscale Bitcoin Trust (GBTC) position steady in Q2 2026 at 360,139 shares worth $16.4M. The position accounts for 6.11% of the portfolio, ranked #5.

Mad River Investors first reported a position in GBTC in Q1 2024 and has held it in 10 quarters since. The position peaked at $32.4M in Q3 2025. 597 funds tracked by Wall St. Rank hold GBTC as of Q2 2026.

Mad River Investors held 360,139 shares of Grayscale Bitcoin Trust worth $16.4M as of Q2 2026.
Mad River Investors left its Grayscale Bitcoin Trust share count unchanged in Q2 2026.
Grayscale Bitcoin Trust made up 6.11% of Mad River Investors's portfolio in Q2 2026, its #5 holding.
Mad River Investors first reported a position in Grayscale Bitcoin Trust in Q1 2024 and has held it in 10 quarters since.
Mad River Investors's Grayscale Bitcoin Trust position peaked at $32.4M in Q3 2025.
597 funds tracked by Wall St. Rank held Grayscale Bitcoin Trust as of Q2 2026.

Based on Mad River Investors's 13F filing for Q2 2026, filed 3 Aug 2026.