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 69.40% of Mad River Investors's stock portfolio.
  • Added to shares of these 10 stocks: TPL (+$55M), PBT, LB, HE, RGLD, WBI, MSB, AAPL, AMZN, MIAX.
  • Started 1 new stock position in RGLD.
  • Reduced shares in these 10 stocks: , FE, VIG, , GLPI, BTC, FBTC, WPM, GBTC, BRK.B.
  • Sold out of its positions in FE, GLPI, CRM, SAND.
  • Mad River Investors was a net buyer of stock by $57M.
  • Mad River Investors has $220M in assets under management (AUM), dropping by -6.04%.
  • Central Index Key (CIK): 0001384484

Tip: Access up to 7 years of quarterly data

Positions held by MRM-Horizon Advisors consolidated in one spreadsheet with up to 7 years of data

Download as csvDownload consolidated filings csv Download as ExcelDownload consolidated filings xlsx

Portfolio Holdings for Mad River Investors

Mad River Investors holds 34 positions in its portfolio as reported in the December 2025 quarterly 13F filing

Company (Ticker) Portfolio Weight Valued At Change in Shares Share Count Share Price
Texas Pacific Land Corp (TPL) 37.4 $82M +200% 286k 287.22
 View chart
Grayscale Bitcoin Trust Etf Shs Rep Com Ut (GBTC) 11.2 $25M 361k 68.36
 View chart
Permian Basin Rty Tr Unit Ben Int (PBT) 7.6 $17M +7% 987k 16.98
 View chart
Hawaiian Elec Industries Call Call Option (Principal) (HE) 7.3 $16M +5% 1.3M 12.30
 View chart
Landbridge Company Cl A (LB) 5.9 $13M +9% 263k 48.99
 View chart
Wheaton Precious Metals Corp (WPM) 5.2 $12M 98k 117.52
 View chart
Mesabi Tr Ctf Ben Int (MSB) 5.2 $11M 297k 38.52
 View chart
Fidelity Wise Origin Bitcoin SHS (FBTC) 2.5 $5.4M 71k 76.23
 View chart
Waterbridge Infrastructure L Cl A Shs Repstg (WBI) 2.3 $5.1M +2% 257k 20.01
 View chart
Franco-Nevada Corporation (FNV) 2.2 $4.9M 24k 207.28
 View chart
Carnival Corp Unit 99/99/9999 (CCL) 2.2 $4.8M 156k 30.54
 View chart
Vanguard Index Fds Total Stk Mkt (VTI) 1.9 $4.1M 12k 335.27
 View chart
Miami Intl Hldgs (MIAX) 1.5 $3.3M 75k 44.38
 View chart
Grayscale Bitcoin Mini Tr Et Shs New (BTC) 1.4 $3.0M -5% 78k 38.73
 View chart
CBOE Holdings (CBOE) 0.8 $1.7M 6.7k 250.99
 View chart
Oracle Corporation (ORCL) 0.7 $1.6M 8.1k 194.91
 View chart
Apple (AAPL) 0.6 $1.4M +2% 5.1k 271.86
 View chart
Intercontinental Exchange (ICE) 0.6 $1.2M 7.6k 161.97
 View chart
Palo Alto Networks (PANW) 0.5 $1.0M 5.5k 184.20
 View chart
Amazon (AMZN) 0.4 $808k +2% 3.5k 230.82
 View chart
Royal Gold (RGLD) 0.3 $591k NEW 2.7k 222.33
 View chart
Cincinnati Financial Corporation (CINF) 0.3 $588k 3.6k 163.32
 View chart
Berkshire Hathaway Inc Del Cl B New (BRK.B) 0.3 $566k -4% 1.1k 502.65
 View chart
UnitedHealth (UNH) 0.3 $561k 1.7k 330.11
 View chart
Rli (RLI) 0.2 $480k 7.5k 63.98
 View chart
Cisco Systems (CSCO) 0.2 $462k 6.0k 77.03
 View chart
JPMorgan Chase & Co. (JPM) 0.2 $451k 1.4k 322.22
 View chart
Caci Intl Cl A (CACI) 0.2 $429k 805.00 532.81
 View chart
Eaton Corp SHS (ETN) 0.2 $382k 1.2k 318.51
 View chart
Vanguard Specialized Funds Div App Etf (VIG) 0.2 $352k -38% 1.6k 219.78
 View chart
Citigroup Com New (C) 0.2 $350k 3.0k 116.69
 View chart
Invesco Exchange Traded Fd T S&p500 Eql Wgt (RSP) 0.1 $289k 1.5k 191.56
 View chart
Kimberly-Clark Corporation (KMB) 0.1 $283k 2.8k 100.89
 View chart
Johnson & Johnson (JNJ) 0.1 $248k 1.2k 206.95
 View chart

Past Filings by Mad River Investors

SEC 13F filings are viewable for Mad River Investors going back to 2010

View all past filings