MRM-Horizon Advisors
Latest statistics and disclosures from Mad River Investors's latest quarterly 13F-HR filing:
- Top 5 stock holdings are TPL, GBTC, PBT, HE, LB, and represent 70.39% of Mad River Investors's stock portfolio.
- Added to shares of these 10 stocks: WaterBridge Infrastructure (+$6.3M), Miami Intl Hldgs, ORCL, AAPL, PANW, AMZN, UNH, CINF, PBT, ETN.
- Started 17 new stock positions in JNJ, UNH, FE, KMB, CINF, WaterBridge Infrastructure, ORCL, C, CSCO, CRM. PANW, AAPL, GLPI, ETN, Miami Intl Hldgs, AMZN, JPM.
- Reduced shares in these 10 stocks: ARIS, WPM, CVEO, GBTC, CCL, VIG, , FBTC, FNV, SAND.
- Sold out of its positions in ARIS, CVEO, EXP.
- Mad River Investors was a net buyer of stock by $11M.
- Mad River Investors has $234M in assets under management (AUM), dropping by 4.69%.
- Central Index Key (CIK): 0001384484
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Portfolio Holdings for Mad River Investors
Mad River Investors holds 37 positions in its portfolio as reported in the September 2025 quarterly 13F filing
| Company (Ticker) | Portfolio Weight | Valued At | Change in Shares | Share Count | Share Price | |
|---|---|---|---|---|---|---|
| Texas Pacific Land Corp (TPL) | 38.0 | $89M | 95k | 933.64 |
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| Grayscale Bitcoin Trust Etf Shs Rep Com Ut (GBTC) | 13.9 | $32M | -3% | 361k | 89.77 |
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| Permian Basin Rty Tr Unit Ben Int (PBT) | 7.2 | $17M | +3% | 922k | 18.25 |
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| Hawaiian Electric Industries (HE) | 5.8 | $14M | 1.2M | 11.04 |
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| Landbridge Company Cl A (LB) | 5.5 | $13M | +2% | 241k | 53.35 |
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| Wheaton Precious Metals Corp (WPM) | 4.7 | $11M | -15% | 98k | 111.84 |
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| Mesabi Tr Ctf Ben Int (MSB) | 3.7 | $8.6M | 296k | 29.27 |
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| Fidelity Wise Origin Bitcoin SHS (FBTC) | 3.1 | $7.2M | 72k | 99.81 |
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| Waterbridge Infrastructure L Cl A Shs Repstg | 2.7 | $6.3M | NEW | 252k | 25.22 |
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| Franco-Nevada Corporation (FNV) | 2.2 | $5.3M | 24k | 222.91 |
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| Carnival Corp Unit 99/99/9999 (CCL) | 1.9 | $4.5M | -15% | 155k | 28.91 |
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| Grayscale Bitcoin Mini Tr Et Shs New (BTC) | 1.8 | $4.2M | +4% | 82k | 50.63 |
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| Vanguard Index Fds Total Stk Mkt (VTI) | 1.7 | $4.0M | 12k | 328.17 |
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| Miami Intl Hldgs | 1.3 | $3.0M | NEW | 75k | 40.26 |
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| Oracle Corporation (ORCL) | 1.0 | $2.3M | NEW | 8.1k | 281.24 |
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| CBOE Holdings (CBOE) | 0.7 | $1.6M | 6.7k | 245.24 |
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| Intercontinental Exchange (ICE) | 0.6 | $1.3M | 7.7k | 168.49 |
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| Apple (AAPL) | 0.5 | $1.3M | NEW | 5.0k | 254.63 |
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| Palo Alto Networks (PANW) | 0.5 | $1.1M | NEW | 5.5k | 203.62 |
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| Amazon (AMZN) | 0.3 | $747k | NEW | 3.4k | 219.57 |
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| Berkshire Hathaway Inc Del Cl B New (BRK.B) | 0.3 | $591k | 1.2k | 502.74 |
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| UnitedHealth (UNH) | 0.3 | $587k | NEW | 1.7k | 345.30 |
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| Cincinnati Financial Corporation (CINF) | 0.2 | $569k | NEW | 3.6k | 158.10 |
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| Vanguard Specialized Funds Div App Etf (VIG) | 0.2 | $561k | -58% | 2.6k | 215.79 |
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| Sandstorm Gold Com New (SAND) | 0.2 | $533k | -12% | 43k | 12.52 |
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| Rli (RLI) | 0.2 | $489k | 7.5k | 65.22 |
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| Eaton Corp SHS (ETN) | 0.2 | $449k | NEW | 1.2k | 374.25 |
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| JPMorgan Chase & Co. (JPM) | 0.2 | $442k | NEW | 1.4k | 315.43 |
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| Cisco Systems (CSCO) | 0.2 | $411k | NEW | 6.0k | 68.42 |
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| Caci Intl Cl A (CACI) | 0.2 | $402k | -5% | 805.00 | 498.78 |
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| Kimberly-Clark Corporation (KMB) | 0.1 | $348k | NEW | 2.8k | 124.34 |
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| Citigroup Com New (C) | 0.1 | $305k | NEW | 3.0k | 101.50 |
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| Invesco Exchange Traded Fd T S&p500 Eql Wgt (RSP) | 0.1 | $286k | 1.5k | 189.70 |
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| FirstEnergy (FE) | 0.1 | $261k | NEW | 5.7k | 45.82 |
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| Johnson & Johnson (JNJ) | 0.1 | $223k | NEW | 1.2k | 185.42 |
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| salesforce (CRM) | 0.1 | $213k | NEW | 900.00 | 237.00 |
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| Gaming & Leisure Pptys (GLPI) | 0.1 | $212k | NEW | 4.6k | 46.61 |
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Past Filings by Mad River Investors
SEC 13F filings are viewable for Mad River Investors going back to 2010
- Mad River Investors 2025 Q3 filed Oct. 14, 2025
- Mad River Investors 2025 Q2 filed July 8, 2025
- Mad River Investors 2025 Q1 filed April 22, 2025
- Mad River Investors 2024 Q4 filed Jan. 16, 2025
- Mad River Investors 2024 Q3 filed Oct. 22, 2024
- Mad River Investors 2024 Q2 filed Aug. 2, 2024
- Mad River Investors 2024 Q1 filed April 19, 2024
- Mad River Investors 2023 Q4 filed Jan. 26, 2024
- Mad River Investors 2023 Q3 filed Oct. 18, 2023
- Mad River Investors 2023 Q2 filed Aug. 3, 2023
- Mad River Investors 2023 Q1 filed May 4, 2023
- Mad River Investors 2022 Q4 filed Feb. 6, 2023
- Mad River Investors 2022 Q3 filed Oct. 26, 2022
- Mad River Investors 2022 Q2 filed Aug. 8, 2022
- Mad River Investors 2022 Q1 filed April 28, 2022
- Mad River Investors 2021 Q4 filed Feb. 9, 2022