MAD RIVER INVESTORS reported SANDSTORM GOLD LTD (SAND) in 18 quarterly 13F filings from 2023 Q4 through 2025 Q3. Peak portfolio weight reached 0.93% in 2023 Q4. The latest visible filing shows SAND at 0.23% 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. Older history is available after unlock; the visible window still shows the most recent pattern.
This page is designed to answer the real investor question behind a 13F filing: how meaningful was MAD RIVER INVESTORS's position in SANDSTORM GOLD LTD, 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.
SAND was reported at 0.23% of portfolio in the most recent visible filing.
Peak weight helps separate a token disclosure from a real conviction holding the fund genuinely cared about.
Longer holding windows often tell a very different story from short-lived tactical trades or one-quarter experiments.
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.
As of 2025 Q4 β sorted by position size
These are the practical questions this page is built to answer before you even open the full history table.
MAD RIVER INVESTORS reported SAND across 8 quarterly 13F filings, from 2023 Q4 through 2025 Q3.
The largest reported portfolio weight for SAND was 0.93% in 2023 Q4.
The most recent filing on this page is 2025 Q3, when MAD RIVER INVESTORS reported 42,592 shares, equal to 0.23% of portfolio, with an estimated market value of $533K.
The chart compares MAD RIVER INVESTORS's quarterly SAND 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.