MAD RIVER INVESTORS BTC — GRAYSCALE BITCOIN MINI TR BT

Ownership history in MAD RIVER INVESTORS  ·  7 quarters on record

AI Ownership Summary

MAD RIVER INVESTORS reported GRAYSCALE BITCOIN MINI TR BT (BTC) in 7 quarterly 13F filings from 2024 Q3 through 2026 Q1. Peak portfolio weight reached 1.78% in 2025 Q3. The latest visible filing shows BTC at 0.88% of the fund.

This page tracks quarterly shares, estimated market value, portfolio weight, filing dates, and disclosure-aligned stock prices directly from SEC EDGAR 13F filings.

What this BTC ownership page tells you

This page is designed to answer the real investor question behind a 13F filing: how meaningful was MAD RIVER INVESTORS's position in GRAYSCALE BITCOIN MINI TR BT, and how did that conviction change over time? You can read the holding window, peak weight, latest reported size, disclosure timing, and quarter-by-quarter changes without piecing the story together from raw SEC rows.

Freshest filing
Latest Reported Filing
2026 Q1

BTC was reported at 0.88% of portfolio in the most recent visible filing.

High-water mark
Peak Conviction
1.78% in 2025 Q3

Peak weight helps separate a token disclosure from a real conviction holding the fund genuinely cared about.

Time in book
Holding Window
2024 Q3 to 2026 Q1

Longer holding windows often tell a very different story from short-lived tactical trades or one-quarter experiments.

Decision context
Why It Matters
Position size beats headlines

Knowing that a fund owned a stock is useful. Knowing whether it was a 0.20% placeholder or a true high-conviction position is where the signal actually starts.

BTC stock page MAD RIVER INVESTORS fund profile MAD RIVER INVESTORS full holdings
How MAD RIVER INVESTORS held BTC — position size vs. price
% of Fund (quarterly)    BTC price (quarter-end, indexed to 100)    SPY (indexed to 100)    QQQ (indexed to 100)
📋 Quarterly Holdings History 7 quarters  ▾
Quarter Action Sold % After 3M Timing Shares Change Chg % % of Fund Mkt Value Filed Price (Filed)
2026 Q1 ADDED — — — 81,217 +3,570 +4.6% 0.88% $2.4M 2026-04-23 $34.40
2025 Q4 REDUCED 5.5% -22.6% ✅ 77,647 -4,532 -5.5% 1.37% $3.0M 2026-02-06 $30.99
2025 Q3 ADDED — — — 82,179 +3,893 +5.0% 1.78% $4.2M 2025-10-14 $49.88
2025 Q2 UNCHANGED — — — 78,286 — 0% 1.67% $3.7M 2025-07-08 $48.20
2025 Q1 ADDED — — — 78,286 +200 +0.3% 1.21% $2.9M 2025-04-22 $40.56
2024 Q4 REDUCED 80.0% -12.8% ✅ 78,086 -312,359 -80.0% 1.52% $3.3M 2025-01-16 $44.51
2024 Q3 INITIATED — — — 390,445 — — 1.22% $2.2M 2024-10-22 $29.90

🏢 Other funds also holding BTC

As of 2026 Q1 — sorted by position size

EMORY UNIVERSITY 3Y 7Y 15.19% Paragon Advisors, LLC 3Y 8.68% KALEIDOSCOPE CAPITAL LP 3Y 7Y 7.06% MSRH, LLC 4.46% Gem Investment Advisors, LLC 4.29% Sloy Dahl & Holst, LLC 3Y 3.5% ParaFi Capital LP 3.38% HFG Wealth Management, LLC 3.19% Ovata Capital Management Ltd 3Y 2.38% Cushing Capital Partners, LLC 2.18%

FAQ About MAD RIVER INVESTORS and BTC

These are the practical questions this page is built to answer before you even open the full history table.

How long has MAD RIVER INVESTORS reported owning BTC?

MAD RIVER INVESTORS reported BTC across 7 quarterly 13F filings, from 2024 Q3 through 2026 Q1.

What was the largest reported BTC position in MAD RIVER INVESTORS's portfolio?

The largest reported portfolio weight for BTC was 1.78% in 2025 Q3.

What is the latest reported BTC position on this page?

The most recent filing on this page is 2026 Q1, when MAD RIVER INVESTORS reported 81,217 shares, equal to 0.88% of portfolio, with an estimated market value of $2.4M.

What does the chart on this BTC ownership page compare?

The chart compares MAD RIVER INVESTORS's quarterly BTC portfolio weight with the stock's indexed share price, so you can see whether the fund was building, trimming, or holding the position as price moved.

How well did MAD RIVER INVESTORS time their BTC position?

Based on 13F filing dates vs. subsequent BTC price moves, MAD RIVER INVESTORS correctly timed 3 out of 5 reported position changes (60%). The annualised alpha on BTC relative to SPY over the holding period was -4.7%.

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