Mad River Investors
Mad River Investors is an investment management firm headquartered in Boston, Massachusetts. The firm specializes in discretionary asset management and primarily serves institutional clients or high net worth individuals. According to SEC filings, the firm operates under MRM-Horizon Advisors, LLC d/b/a Mad River Investors and manages public equity portfolios. As of Q2 2025, the fund has disclosed 24 holdings in its 13F filings. Employee count and detailed corporate history are not public, but the firm’s regulatory filings indicate a boutique operation, likely founded before 2015 based on SEC records.
Investment Strategy
Mad River Investors manages a concentrated portfolio of public securities, focusing on a mix of natural resources, energy, precious metals, and alternative asset classes. Their largest positions as of Q2 2025 include Texas Pacific Land Corporation, Grayscale Bitcoin Trust ETF, and LandBridge Company, LLC, suggesting an interest in land, commodities, and digital assets. The firm uses a value-oriented, long-term strategy and seeks opportunities in specialized or alternative sectors, with tactical allocations to maximize returns.
Top Holdings
Equity Positions (35)
| Ticker | Security | Weight | Market Value | Shares | Avg Cost | Price | Change (QoQ) |
|---|---|---|---|---|---|---|---|
T TPL | TEXAS PACIFIC LAND CORPORATI | 37.85% | $88.5M | 94,772 | $529.75 | $933.64 | -$11.9M |
G GBTC | GRAYSCALE BITCOIN TRUST ETF | 13.86% | $32.4M | 360,954 | $59.72 | $89.77 | +$813.8K |
P PBT | PERMIAN BASIN RTY TR | 7.20% | $16.8M | 922,230 | $12.54 | $18.25 | +$5.8M |
H HE | HAWAIIAN ELEC INDUSTRIES | 5.81% | $13.6M | 1,230,250 | $10.83 | $11.04 | +$550.6K |
L LB | LANDBRIDGE COMPANY LLC | 5.50% | $12.9M | 241,056 | $39.76 | $53.35 | -$3.0M |
Options Positions (1)
| Ticker | Security | Action | Type | Notional Value | Contracts | Underlying Price | Premium Paid | Change (Contracts) | Change (Value) |
|---|---|---|---|---|---|---|---|---|---|
T TPL | TEXAS PACIFIC LAND CORPORATI | New | Put | $373.5K | 4 | $933.64 | $933.64 | +4 | +$373.5K |