MAD RIVER INVESTORS
An institutional investment manager in BOSTON, MA. Its Form 13F for the quarter ended Jun 30, 2026, filed Aug 3, 2026. SEC CIK 1384484.
- Reported value$268.1m
- Positions30
Holdings: 30 positions
The filing on sec.govAs filed, largest first. Reported value is what the manager stated for each position at the quarter end, in US dollars; it is filing data, not a price. Weight is the position's share of the total reported value. Changes compare with the 13F for the quarter ended 2026-03-31.
| Issuer | Class | CUSIP | Reported value$m | Weight | Shares | Put or call | Change on the quarter before |
|---|---|---|---|---|---|---|---|
| Texas Pacific Land CorporatiTPL | COM | 88262P102 | 125 | 46.6% | 285,330 | Added+210 | |
| Permian Basin Rty TRPBT | UNIT BEN INT | 714236106 | 25.2 | 9.4% | 1,005,152 | Added+2,012 | |
| Landbridge Company LLCLB | CL A | 514952100 | 21.2 | 7.9% | 267,953 | Added+1,568 | |
| Hawaiian Elec Inds Inc MTN BHE | COM | 419870100 | 17.9 | 6.7% | 1,321,850 | Added+4,800 | |
| Grayscale Bitcoin Trust ETFGBTC | SHS REP COM UT | 389637109 | 16.4 | 6.1% | 360,139 | Unchanged | |
| Miami International Holdings IncMIAX | COM | 59356Q108 | 10.7 | 4.0% | 289,000 | Added+207,750 | |
| Waterbridge Infrastructure LWBI | CL A SHS REPSTG | 940923105 | 9.2 | 3.4% | 267,801 | Reduced−3,099 | |
| Mesabi TRMSB | CTF BEN INT | 590672101 | 8.2 | 3.1% | 323,735 | Added+2,189 | |
| Wheaton Precious Metals CorpWPM | COM | 962879102 | 6.3 | 2.4% | 56,173 | Reduced−33,098 | |
| Franco Nev CorpFNV | COM | 351858105 | 4.7 | 1.7% | 22,506 | Reduced−1,084 | |
| Fidelity Wise Origin BitcoinFBTC | SHS | 315948109 | 3.6 | 1.3% | 70,369 | Added+30 | |
| Carnival Corp Ltd | COMMON SHARES | G2004J103 | 2.7 | 1.0% | 95,373 | New+95,373 | |
| Vanguard Index FDS | TOTAL STK MKT | 922908769 | 2.5 | 0.9% | 6,800 | Reduced−2,000 | |
| Grayscale Bitcoin Mini TR EtBTC | SHS NEW | 389930207 | 2.1 | 0.8% | 81,517 | Added+300 | |
| Palo Alto Networks IncPANW | COM | 697435105 | 1.9 | 0.7% | 5,484 | Unchanged | |
| Cboe Global MKTS IncCBOE | COM | 12503M108 | 1.6 | 0.6% | 6,705 | Added+25 | |
| Apple IncAAPL | COM | 037833100 | 1.5 | 0.5% | 5,050 | Reduced−50 | |
| Oracle CorpORCL | COM | 68389X105 | 1.2 | 0.4% | 8,050 | Unchanged | |
| Intercontinental Exchange inICE | COM | 45866F104 | 1.0 | 0.4% | 7,846 | Added+201 | |
| Amazon Com IncAMZN | COM | 023135106 | 0.8 | 0.3% | 3,400 | Reduced−100 | |
| Unitedhealth Group IncUNH | COM | 91324P102 | 0.7 | 0.3% | 1,700 | Unchanged | |
| Cisco Sys IncCSCO | COM | 17275R102 | 0.7 | 0.3% | 6,000 | Unchanged | |
| Cincinnati Finl CorpCINF | COM | 172062101 | 0.7 | 0.2% | 3,600 | Unchanged | |
| Hawaiian Elec Inds Inc MTN BHE | CALL | 419870100 | 0.7 | 0.2% | $48,800 principal | Call | Added+1,900 |
| Eaton Corp plc | SHS | G29183103 | 0.5 | 0.2% | 1,200 | Unchanged | |
| RLI CorpRLI | COM | 749607107 | 0.4 | 0.1% | 6,000 | Unchanged | |
| Berkshire Hathaway Inc DelBRK-B | CL B NEW | 084670702 | 0.3 | 0.1% | 625 | Reduced−200 | |
| Johnson & JohnsonJNJ | COM | 478160104 | 0.3 | 0.1% | 1,200 | Unchanged | |
| Caci International IncCACI | CL A | 127190304 | 0.2 | <0.1% | 455 | Reduced−350 | |
| Fermi IncFRMI | COM | 314911108 | 0.2 | <0.1% | 16,500 | New+16,500 |
Sold out: 4 positions
Held at the end of the quarter before and not reported this quarter.
| Issuer | Class | CUSIP | Reported value$ | Weight | Shares | Put or call | Change on the quarter before |
|---|---|---|---|---|---|---|---|
| Carnival Corp | COMMON STOCK | 143658300 | 0.0 | 0.0% | 0 | Sold out−156,181 | |
| Jpmorgan Chase & CoJPM | COM | 46625H100 | 0.0 | 0.0% | 0 | Sold out−1,417 | |
| Royal Gold IncRGLD | COM | 780287108 | 0.0 | 0.0% | 0 | Sold out−2,463 | |
| Vanguard Specialized Funds | DIV APP ETF | 921908844 | 0.0 | 0.0% | 0 | Sold out−1,000 |
Source: SEC EDGAR, Form 13F-HR, accession 0001384484-26-000006 (on sec.gov). Last ingested by Listed: Oct 22, 2026, 05:26 ET. Listed shows no prices and gives no investment advice.