Q4 2025 · 13F-HR
MSRH, LLCholdings as filed
Filed 2026-04-06 · accession 0002071844-26-000330
$89.6M
Reported value
28
Positions
2025-12-31
Period end
The Brief · MSRH, LLC · Q4 2025
AI · grounded in 13F
MSRH, LLC established a new position in Texas Pacific Land Corp TPL valued at $43.1M. The fund also initiated a $28.9M stake in Grayscale Bitcoin Trust GBTC. Other new additions include LandBridge Co LLC-A LB at $4.6M and Permian Basin Royalty Trust PBT at $4.1M.
Holdings as filed
| CUSIP | Ticker | Issuer | Value | % port. | Shares | Class | Voting |
|---|---|---|---|---|---|---|---|
| 88262P102 | TPL | TEXAS PACIFIC LAND CORP | $43.1M | 48.2% | 150,230 | Common | SOLE |
| 389637109 | GBTC | Grayscale Bitcoin Trust | $28.9M | 32.2% | 422,078 | Common | SOLE |
| 514952100 | LB | LANDBRIDGE CO LLC-A | $4.6M | 5.13% | 93,866 | Common | SOLE |
| 714236106 | PBT | Permian Basin Royalty Trust | $4.1M | 4.53% | 239,040 | Common | SOLE |
| 389930207 | BTC | GRAYSCALE BITCOIN MINI TRUST | $4.0M | 4.46% | 103,200 | Common | SOLE |
| 419870100 | HE | Hawaiian Electric Industries Inc | $1.8M | 2.03% | 148,085 | Common | SOLE |
| 590672101 | MSB | Mesabi Trust | $1.7M | 1.94% | 45,114 | Common | SOLE |
| 44267T102 | HHH | HOWARD HUGHES HOLDINGS INC | $574,344 | 0.64% | 7,200 | Common | SOLE |
| 940923105 | WBI | WATERBRIDGE INFRASTRUC-CL A | $250,125 | 0.28% | 12,500 | Common | SOLE |
| 962879102 | WPM | WHEATON PRECIOUS METALS CORP | $166,996 | 0.19% | 1,421 | Common | SOLE |
| 531229771 | FWONA | LIBERTY MEDIA CORP-LIB-NEW-A | $100,910 | 0.11% | 1,129 | Common | SOLE |
| 351858105 | FNV | Franco-Nevada Corp | $97,629 | 0.11% | 471 | Common | SOLE |
| 670100205 | NVO | Novo Nordisk A/S | $95,044 | 0.11% | 1,868 | Common | SOLE |
| 17878Y207 | CVEO | CIVEO CORP | $27,170 | 0.03% | 1,188 | Common | SOLE |
| 812215200 | SEG | SEAPORT ENTERTAINMENT GROUP | $24,792 | 0.03% | 1,254 | Common | SOLE |
| 05759B305 | BKKT | BAKKT HOLDINGS INC | $11,516 | 0.01% | 1,147 | Common | SOLE |
| 01877R108 | ARLP | ALLIANCE RESOURCE PARTNERS | $6,876 | 0.01% | 296 | Common | SOLE |
| 46438F101 | IBIT | ISHARES BITCOIN TRUST | $5,064 | 0.01% | 102 | Common | SOLE |
| 047726302 | BATRK | ATLANTA BRAVES HOLDINGS IN-C | $4,616 | 0.01% | 117 | Common | SOLE |
| 66987E206 | NG | Novagold Resources Inc | $3,728 | 0.00% | 400 | Common | SOLE |
| 879080109 | TRC | Tejon Ranch Co | $1,277 | 0.00% | 81 | Common | SOLE |
| 46428Q109 | SLV | iShares Silver Trust | $515 | 0.00% | 8 | Common | SOLE |
| 89621C105 | TMQ | TRILOGY METALS INC | $284 | 0.00% | 66 | Common | SOLE |
| 314911108 | FRMI | FERMI INC | $114 | 0.00% | 14 | Common | SOLE |
| 172573107 | CRCL | CIRCLE INTERNET GROUP INC | $79 | 0.00% | 1 | Common | SOLE |
| 726503105 | PAA | PLAINS ALL AMER PIPELINE LP | $36 | 0.00% | 2 | Common | SOLE |
| 29273V100 | ET | ENERGY TRANSFER LP | $33 | 0.00% | 2 | Common | SOLE |
| 36164V602 | GLIBA | GCI LIBERTY INC - CLASS A | $0 | — | 3,360 | Common | SOLE |
Source: SEC EDGAR · raw 13F holdings as filed. The Class column shows the option type when reported (Put/Call) or Common when the issuer's equity is held directly. 13F discloses long positions only.