MRM-Horizon Advisors

Mad River Investors as of March 31, 2025

Portfolio Holdings for Mad River Investors

Mad River Investors holds 24 positions in its portfolio as reported in the March 2025 quarterly 13F filing

Company (Ticker) Portfolio Weight Valued At Change in Shares Share Count Share Price
Texas Pacific Land Corp (TPL) 53.4 $126M 95k 1324.99
Grayscale Bitcoin Trust Etf Shs Rep Com Ut (GBTC) 10.3 $24M 373k 65.17
Landbridge Company Cl A (LB) 7.1 $17M 234k 71.94
Hawaiian Electric Industries (HE) 5.6 $13M 1.2M 10.95
Wheaton Precious Metals Corp (WPM) 4.9 $12M 148k 77.63
Mesabi Tr Ctf Ben Int (MSB) 3.4 $8.1M 297k 27.20
Fidelity Wise Origin Bitcoin SHS (FBTC) 2.3 $5.4M 75k 71.97
Permian Basin Rty Tr Unit Ben Int (PBT) 2.0 $4.7M 472k 9.91
Franco-Nevada Corporation (FNV) 1.9 $4.4M 28k 157.56
Carnival Corp Unit 99/99/9999 (CCL) 1.6 $3.7M 188k 19.53
Vanguard Index Fds Total Stk Mkt (VTI) 1.4 $3.3M 12k 274.84
Grayscale Bitcoin Mini Tr Et Shs New (BTC) 1.2 $2.9M 78k 36.49
Aris Water Solutions Class A Com (ARIS) 1.0 $2.4M 75k 32.04
Civeo Corp Cda Com New (CVEO) 0.8 $1.8M 80k 23.00
CBOE Holdings (CBOE) 0.6 $1.4M 6.2k 226.28
Intercontinental Exchange (ICE) 0.5 $1.3M 7.5k 172.51
Vanguard Specialized Funds Div App Etf (VIG) 0.5 $1.2M 6.2k 193.99
Berkshire Hathaway Inc Del Cl B New (BRK.B) 0.4 $1.0M 1.9k 532.58
Rli (RLI) 0.3 $723k 9.0k 80.33
Sandstorm Gold Com New (SAND) 0.2 $486k 64k 7.55
Eagle Materials (EXP) 0.2 $467k 2.1k 221.88
Caci Intl Cl A (CACI) 0.1 $314k 855.00 366.92
Invesco Exchange Traded Fd T S&p500 Eql Wgt (RSP) 0.1 $261k 1.5k 173.23
Walt Disney Company (DIS) 0.1 $237k 2.4k 98.70