Sponsored

The Analysis of MAD RIVER INVESTORS's Holdings & P&L

Currently, MAD RIVER INVESTORS holds 31 types of securities in its portfolio with a total value $277.2M. In the most recent quarter, they have increased their positions in MSB (+24.9K shares, valued at $784.3K), HE (+32.9K shares, valued at $488.2K), WBI (+13.9K shares, valued at $372.4K); decreased their positions in WPM (-8.3K shares, valued at $1.1M), VTI (-3.3K shares, valued at $1.1M), TPL (-963 shares, valued at $457.0K).

1M P&L

-1.5M-0.58%

3M P&L

-17.4M-6.56%

HY P&L

+57.7M+30.40%

P&L figures are estimated based on reported 13F stock holdings and market price changes. They are approximations and may not reflect actual fund performance. Stock split events may also affect the accuracy of these calculations, and we cannot guarantee that all splits have been fully accounted for.

Top Holding Treemap

Top Industries by Value

1Oil & Gas E&P135.3M

49.4%

2N/A26.2M

9.6%

3Oil & Gas Equipment & Services25.7M

9.4%

Top Industries by Stock Count

1N/A4 stocks

14.3%

2Gold3 stocks

10.7%

3Financial Data & Stock Exchanges2 stocks

7.1%

Sponsored

Stock Holdings

TickerCompany NameSharesShares △%Event DateReport DateHistory

TPL TEXAS PACIFIC LAND CORPORATI285.1K shares-0.34%2026-03-312026-04-23

PBT PERMIAN BASIN RTY TR1.0M shares1.65%2026-03-312026-04-23

HE HAWAIIAN ELEC INDS INC MTN B1.3M shares2.56%2026-03-312026-04-23

GBTC GRAYSCALE BITCOIN TRUST ETF360.1K shares-0.09%2026-03-312026-04-23

LB LANDBRIDGE COMPANY LLC266.4K shares1.31%2026-03-312026-04-23

WPM WHEATON PRECIOUS METALS CORP89.3K shares-8.54%2026-03-312026-04-23

MSB MESABI TR321.5K shares8.39%2026-03-312026-04-23

WBI WATERBRIDGE INFRASTRUCTURE L270.9K shares5.41%2026-03-312026-04-23

Sponsored

FNV FRANCO NEV CORP23.6K shares-0.02%2026-03-312026-04-23

FBTC FIDELITY WISE ORIGIN BITCOIN70.3K shares-0.73%2026-03-312026-04-23

CCL CARNIVAL CORP156.2K shares0.38%2026-03-312026-04-23

MIAX MIAMI INTL HLDGS INC81.3K shares8.26%2026-03-312026-04-23

VTI VANGUARD INDEX FDS8.8K shares-27.40%2026-03-312026-04-23

GRAYSCALE BITCOIN MINI TR ET GRAYSCALE BITCOIN MINI TR ET81.2K shares4.60%2026-03-312026-04-23

CBOE CBOE GLOBAL MKTS INC6.7K shares-0.15%2026-03-312026-04-23

AAPL APPLE INC5.1K shares0.00%2026-03-312026-04-23

Sponsored

ICE INTERCONTINENTAL EXCHANGE IN7.6K shares0.00%2026-03-312026-04-23

ORCL ORACLE CORP8.1K shares0.00%2026-03-312026-04-23

PANW PALO ALTO NETWORKS INC5.5K shares0.00%2026-03-312026-04-23

AMZN AMAZON COM INC3.5K shares0.00%2026-03-312026-04-23

RGLD ROYAL GOLD INC2.5K shares-7.27%2026-03-312026-04-23

CINF CINCINNATI FINL CORP3.6K shares0.00%2026-03-312026-04-23

CSCO CISCO SYS INC6.0K shares0.00%2026-03-312026-04-23

UNH UNITEDHEALTH GROUP INC1.7K shares0.00%2026-03-312026-04-23

Sponsored

CACI CACI INTL INC805 shares0.00%2026-03-312026-04-23

EATON CORP PLC EATON CORP PLC1.2K shares0.00%2026-03-312026-04-23

JPM JPMORGAN CHASE & CO1.4K shares1.21%2026-03-312026-04-23

BERKSHIRE HATHAWAY INC DEL BERKSHIRE HATHAWAY INC DEL825 shares-26.67%2026-03-312026-04-23

RLI RLI CORP6.0K shares-20.00%2026-03-312026-04-23

JNJ JOHNSON & JOHNSON1.2K shares0.00%2026-03-312026-04-23

VIG VANGUARD SPECIALIZED FUNDS1.0K shares-37.50%2026-03-312026-04-23

TPL

TEXAS PACIFIC LAND CORPORATI

-0.34%

Shares285.1K

Event2026-03-31

Filed2026-04-23

PBT

PERMIAN BASIN RTY TR

1.65%

Shares1.0M

Event2026-03-31

Filed2026-04-23

HAWAIIAN ELEC INDS INC MTN B

2.56%

Shares1.3M

Event2026-03-31

Filed2026-04-23

GBTC

GRAYSCALE BITCOIN TRUST ETF

-0.09%

Shares360.1K

Event2026-03-31

Filed2026-04-23

LANDBRIDGE COMPANY LLC

1.31%

Shares266.4K

Event2026-03-31

Filed2026-04-23

WPM

WHEATON PRECIOUS METALS CORP

-8.54%

Shares89.3K

Event2026-03-31

Filed2026-04-23

MSB

MESABI TR

8.39%

Shares321.5K

Event2026-03-31

Filed2026-04-23

WBI

WATERBRIDGE INFRASTRUCTURE L

5.41%

Shares270.9K

Event2026-03-31

Filed2026-04-23

FNV

FRANCO NEV CORP

-0.02%

Shares23.6K

Event2026-03-31

Filed2026-04-23

FBTC

FIDELITY WISE ORIGIN BITCOIN

-0.73%

Shares70.3K

Event2026-03-31

Filed2026-04-23

CCL

CARNIVAL CORP

0.38%

Shares156.2K

Event2026-03-31

Filed2026-04-23

MIAX

MIAMI INTL HLDGS INC

8.26%

Shares81.3K

Event2026-03-31

Filed2026-04-23

VTI

VANGUARD INDEX FDS

-27.40%

Shares8.8K

Event2026-03-31

Filed2026-04-23

GRAYSCALE BITCOIN MINI TR ET

4.60%

Shares81.2K

Event2026-03-31

Filed2026-04-23

CBOE

CBOE GLOBAL MKTS INC

-0.15%

Shares6.7K

Event2026-03-31

Filed2026-04-23

AAPL

APPLE INC

0.00%

Shares5.1K

Event2026-03-31

Filed2026-04-23

ICE

INTERCONTINENTAL EXCHANGE IN

0.00%

Shares7.6K

Event2026-03-31

Filed2026-04-23

ORCL

ORACLE CORP

0.00%

Shares8.1K

Event2026-03-31

Filed2026-04-23

PANW

PALO ALTO NETWORKS INC

0.00%

Shares5.5K

Event2026-03-31

Filed2026-04-23

AMZN

AMAZON COM INC

0.00%

Shares3.5K

Event2026-03-31

Filed2026-04-23

RGLD

ROYAL GOLD INC

-7.27%

Shares2.5K

Event2026-03-31

Filed2026-04-23

CINF

CINCINNATI FINL CORP

0.00%

Shares3.6K

Event2026-03-31

Filed2026-04-23

CSCO

CISCO SYS INC

0.00%

Shares6.0K

Event2026-03-31

Filed2026-04-23

UNH

UNITEDHEALTH GROUP INC

0.00%

Shares1.7K

Event2026-03-31

Filed2026-04-23

CACI

CACI INTL INC

0.00%

Shares805

Event2026-03-31

Filed2026-04-23

EATON CORP PLC

0.00%

Shares1.2K

Event2026-03-31

Filed2026-04-23

JPM

JPMORGAN CHASE & CO

1.21%

Shares1.4K

Event2026-03-31

Filed2026-04-23

BERKSHIRE HATHAWAY INC DEL

-26.67%

Shares825

Event2026-03-31

Filed2026-04-23

RLI

RLI CORP

-20.00%

Shares6.0K

Event2026-03-31

Filed2026-04-23

JNJ

JOHNSON & JOHNSON

0.00%

Shares1.2K

Event2026-03-31

Filed2026-04-23

VIG

VANGUARD SPECIALIZED FUNDS

-37.50%

Shares1.0K

Event2026-03-31

Filed2026-04-23

Call Option Holdings

HE Call CallHAWAIIAN ELEC INDS INC MTN B46.9K shares230.28%2026-03-312026-04-23

HE Call

HAWAIIAN ELEC INDS INC MTN B

230.28%

Shares46.9K

Event2026-03-31

Filed2026-04-23

Put Option Holdings

No put option holdings data available