We are live on ! Find out more
MRI

Mad River Investors Portfolio holdings

AUM $278M
1-Year Est. Return 32.21%
This Fund
S&P 500
This Quarter Est. Return
+3.37%
1 Year Est. Return
+32.21%
3 Year Est. Return
+205.53%
5 Year Est. Return
+287.35%
10 Year Est. Return
+1,823.68%
AUM
$234M
AUM Growth
+$10.5M
Cap. Flow
+$9.72M
Cap. Flow %
4.16%
Top 10 Hldgs %
86.64%
Holding
42
New
17
Increased
6
Reduced
10
Closed
3

Top Buys

Rank Stock Value
1
WBI
WaterBridge Infrastructure LLC
WBI
+$5.9M
2
MIAX
Miami International Holdings
MIAX
+$2.73M
3
ORCL icon
Oracle
ORCL
+$2.05M
4
AAPL icon
Apple
AAPL
+$1.13M
5
PANW icon
Palo Alto Networks
PANW
+$1.05M

Top Sells

Rank Stock Value
1
ARIS
Aris Water Solutions
ARIS
+$2.09M
2
WPM icon
Wheaton Precious Metals
WPM
+$1.76M
3
CVEO icon
Civeo
CVEO
+$1.57M
4
GBTC icon
Grayscale Bitcoin Trust
GBTC
+$1.03M
5
CCL icon
Carnival Corporation Ltd
CCL
+$858K

Sector Composition

Rank Sector Weight
1 Energy 53.27%
2 Materials 10.86%
3 Utilities 5.92%
4 Financials 3.56%
5 Technology 2.43%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
TPL icon
1
Texas Pacific Land
TPL
$26.9B
$88.5M 37.85%
284,316
-723
-0.3% -$228K
GBTC icon
2
Grayscale Bitcoin Trust
GBTC
$9.55B
$32.4M 13.86%
360,954
-11,427
-3% -$1.03M
PBT
3
Permian Basin Royalty Trust
PBT
$1.31B
$16.8M 7.2%
922,230
+38,313
+4% +$597K
HE icon
4
Hawaiian Electric Industries
HE
$2.28B
$13.6M 5.81%
1,230,250
+4,350
+0.4% +$49.6K
LB
5
LandBridge Co
LB
$2.08B
$12.9M 5.5%
241,056
+6,302
+3% +$348K
WPM icon
6
Wheaton Precious Metals
WPM
$49.8B
$11M 4.69%
97,927
-17,998
-16% -$1.76M
MSB
7
Mesabi Trust
MSB
$301M
$8.65M 3.7%
295,523
+110
+0% +$3.23K
FBTC icon
8
Fidelity Wise Origin Bitcoin Fund
FBTC
$11.8B
$7.17M 3.07%
71,804
-1,457
-2% -$146K
WBI
9
WaterBridge Infrastructure LLC
WBI
$1.52B
$6.35M 2.72%
+251,700
New +$5.9M
FNV icon
10
Franco-Nevada
FNV
$40.5B
$5.26M 2.25%
23,579
-474
-2% -$85.4K
CCL icon
11
Carnival Corporation Ltd
CCL
$38.5B
$4.49M 1.92%
155,396
-28,400
-15% -$858K
BTC
12
Grayscale Bitcoin Mini Trust ETF
BTC
$3.37B
$4.16M 1.78%
82,179
+3,893
+5% +$197K
VTI icon
13
Vanguard Total Stock Market ETF
VTI
$656B
$3.98M 1.7%
12,122
– –
MIAX
14
Miami International Holdings
MIAX
$4.36B
$3M 1.28%
+74,600
New +$2.73M
ORCL icon
15
Oracle
ORCL
$347B
$2.26M 0.97%
+8,050
New +$2.05M
CBOE icon
16
Cboe Global Markets
CBOE
$30.9B
$1.63M 0.7%
6,655
-25
-0.4% -$6.01K
ICE icon
17
Intercontinental Exchange
ICE
$86.2B
$1.3M 0.56%
7,720
+25
+0.3% +$4.47K
AAPL icon
18
Apple
AAPL
$4.99T
$1.27M 0.54%
+5,000
New +$1.13M
PANW icon
19
Palo Alto Networks
PANW
$261B
$1.12M 0.48%
+5,484
New +$1.05M
AMZN icon
20
Amazon
AMZN
$2.49T
$747K 0.32%
+3,400
New +$770K
BRK.B icon
21
Berkshire Hathaway Class B
BRK.B
$1.1T
$591K 0.25%
1,175
– –
UNH icon
22
UnitedHealth
UNH
$390B
$587K 0.25%
+1,700
New +$514K
CINF icon
23
Cincinnati Financial
CINF
$28.5B
$569K 0.24%
+3,600
New +$546K
VIG icon
24
Vanguard Dividend Appreciation ETF
VIG
$113B
$561K 0.24%
2,600
-3,600
-58% -$756K
SAND
25
DELISTED
Sandstorm Gold
SAND
$533K 0.23%
42,592
-6,082
-12% -$64.7K
1
2

Similar funds

RW
Rede Wealth Charlottesville, Virginia $278M AUM 9.19% 1-Year Est. Return
KWM
Kanen Wealth Management Coconut Creek, Florida $278M AUM 38.85% 1-Year Est. Return
AIA
Armor Investment Advisors Raleigh, North Carolina $278M AUM 14.95% 1-Year Est. Return
ACP
Arcus Capital Partners Atlanta, Georgia $278M AUM 14.53% 1-Year Est. Return
EM
Excalibur Management Waltham, Massachusetts $278M AUM 20.09% 1-Year Est. Return
DI
Disciplined Investments Tulsa, Oklahoma $279M AUM 18.21% 1-Year Est. Return
BCH
Berkshire Capital Holdings San Jose, California $277M AUM 190.28% 1-Year Est. Return
CC
Checkpoint Capital San Francisco, California $279M AUM 45.74% 1-Year Est. Return

Mad River Investors's Q3 2025 Portfolio in Review

As of Q3 2025, Mad River Investors held 42 positions worth $234M, up 4.7% from $223M the previous quarter. Its ten largest holdings account for 87% of the portfolio.

Mad River Investors deployed $9.72M of net new capital in Q3 2025, opening 17 new positions and adding to 6 existing holdings. Its largest new stake was WaterBridge Infrastructure LLC: 251,700 shares worth $6.35M.

By sector, the portfolio is most concentrated in Energy at 53% of assets, down from 57% a quarter earlier, followed by Materials and Utilities.

On the sell side, the largest reduction was Wheaton Precious Metals, an estimated $1.76M trimmed.

  • Mad River Investors's largest Q3 2025 buy was WaterBridge Infrastructure LLC: 251,700 shares worth $6.35M.
  • Mad River Investors added most to Permian Basin Royalty Trust in Q3 2025, an estimated $597K increase.
  • Mad River Investors's biggest Q3 2025 reduction was Wheaton Precious Metals, cutting an estimated $1.76M.
  • Mad River Investors fully exited Aris Water Solutions in Q3 2025, selling an estimated $2.09M.
  • Mad River Investors's ten largest holdings make up 87% of its $234M portfolio in Q3 2025.
  • Mad River Investors opened 17 new positions and closed 3 in Q3 2025.
  • Mad River Investors's portfolio value rose 4.7% quarter-over-quarter to $234M.

Based on Mad River Investors's 13F filing for Q3 2025, filed 14 Oct 2025.