Mraz, Amerine & Associates, Inc.
In its 13F for Q1 2024 (holdings as of March 31, 2024, filed July 24, 2025), Mraz, Amerine & Associates, Inc. reported 177 stock positions worth $528.9 million. Its top holding was Berkshire Hathaway Class B (BRK.B) at 13.9% of the portfolio, followed by White Mountains Insurance GP (WTM, 7.3%) and WR Berkley (WRB, 7.2%). Compared with Q4 2023, it opened 6 new positions, sold out of 6, added to 40 and reduced 92. The biggest buy was Janus Henderson Aaa Clo ETF (JAAA, shares +172%) and the biggest sale an exit from CMB Tech (CMBT).
- Most Recent 13F
- Q2 2026
- Location
- Modesto, CA
- CIK
- 0001542324
- Portfolio Value
- $528.9M (Q1 2024)
- SEC Filing
- 0001214659-25-010855 ↗ filed Jul 24, 2025
Holdings Value
Holdings 177 stocks · $528.9M
| BRK.B Berkshire Hathaway Inc. Class B | 13.92% | 175,087 | $73.6M | Reduce -3.2% |
| WTM White Mountains Insurance GP | 7.31% | 21,540 | $38.6M | Reduce -2.0% |
| WRB WR Berkley Corp. filed as BERKLEY W R CORP | 7.19% | 430,203 | $38.0M | Reduce -1.2% |
| FRFHF Fairfax Financial Hldgs Ltd. | 6.39% | 31,326 | $33.8M | Reduce -1.3% |
| ESGR Enstar Group Ltd. | 6.05% | 102,949 | $32.0M | Add +1.1% |
| MKL Markel Group Inc. | 5.25% | 18,252 | $27.8M | Add +1.1% |
| JEF Jefferies Financial Group Inc. | 4.67% | 560,073 | $24.7M | Reduce -1.4% |
| L Loews Corp. | 3.82% | 257,914 | $20.2M | Reduce -2.1% |
| AVUV Avantis US Small Cap Value | 2.71% | 152,887 | $14.3M | Add +5.0% |
| MSFT Microsoft Corp. | 1.54% | 19,317 | $8.1M | Reduce -1.9% |
| CACC Credit Acceptance Corp. | 1.41% | 13,474 | $7.4M | Reduce -2.0% |
| AVDV Avantis Intl S/C Value ETF | 1.37% | 109,670 | $7.2M | Add +2.6% |
| BN Brookfield Corp. | 1.20% | 151,328 | $6.3M | Add +14.4% |
| CNQ Canadian Natural Resources | 1.20% | 82,969 | $6.3M | Reduce -0.4% |
| UHAL.B U-Haul Holding Co.-Non Voting | 1.11% | 88,175 | $5.9M | Reduce -0.4% |
| OXY Occidental Petroleum Corp. | 1.08% | 87,799 | $5.7M | Add +3.1% |
| DFIV Dimensional International Va | 1.01% | 145,320 | $5.3M | Add +24.1% |
| LEN.B Lennar Corp. Class B | 0.90% | 30,896 | $4.8M | Reduce -0.5% |
| BRK.A Berkshire Hathaway Inc. Class A | 0.84% | 7 | $4.4M | No change |
| RMT Royce Micro-Cap Trust Inc. | 0.74% | 416,882 | $3.9M | Reduce -3.0% |
| JAAA Janus Henderson Aaa Clo ETF | 0.73% | 75,943 | $3.9M | Add +172.3% |
| AR Antero Resources Corp. | 0.72% | 131,523 | $3.8M | Add +2.7% |
| NVR NVR Inc. | 0.70% | 460 | $3.7M | Reduce -0.4% |
| TDW Tidewater Inc. | 0.66% | 38,156 | $3.5M | Reduce -2.0% |
| SLB SLB Ltd. filed as SCHLUMBERGER LTD | 0.66% | 63,408 | $3.5M | Add +4.8% |
| CTRA Coterra Energy Inc. | 0.62% | 118,526 | $3.3M | Reduce -0.2% |
| VTS Vitesse Energy Inc. | 0.61% | 136,076 | $3.2M | Add +2.7% |
| CLF Cleveland-Cliffs Inc. | 0.60% | 139,849 | $3.2M | Reduce -2.1% |
| GHC Graham Holdings Co. Class B | 0.58% | 4,016 | $3.1M | Reduce -1.5% |
| AMR Alpha Metallurgical Resource | 0.57% | 9,030 | $3.0M | Reduce -0.5% |
| FCX Freeport-McMoran Inc. | 0.53% | 60,071 | $2.8M | Add +2.2% |
| JNJ Johnson & Johnson | 0.53% | 17,790 | $2.8M | No change |
| SCHW Schwab (charles) Corp. | 0.51% | 37,528 | $2.7M | Reduce -5.8% |
| VYM Vanguard High DVD Yield ETF | 0.49% | 21,222 | $2.6M | Add +10.1% |
| VTIP Vanguard Short-Term Tips | 0.47% | 51,530 | $2.5M | Reduce -15.6% |
| DFLV Dim US Large Cap Value ETF | 0.44% | 78,395 | $2.4M | Add +178.0% |
| BR Broadridge Financial Solutio | 0.43% | 11,043 | $2.3M | Reduce -1.1% |
| CUBI Customers Bancorp Inc. | 0.42% | 42,349 | $2.2M | Reduce -4.7% |
| VTV Vanguard Mrngstr Val ETF-Aui | 0.42% | 13,719 | $2.2M | Reduce -17.9% |
| AAPL Apple Inc. | 0.41% | 12,492 | $2.1M | Reduce -3.4% |
| BSM Black Stone Minerals LP | 0.40% | 130,818 | $2.1M | Reduce -1.8% |
| FCNCA First Citizens Bcshs Class A | 0.39% | 1,275 | $2.1M | Reduce -3.1% |
| COP Conocophillips | 0.38% | 15,945 | $2.0M | Reduce -2.2% |
| ABEV Ambev SA-ADR | 0.37% | 787,645 | $2.0M | Reduce -5.6% |
| OIH Vaneck Oil Services ETF | 0.37% | 5,753 | $1.9M | Add +16.3% |
| GNK Genco Shipping & Trading Ltd. | 0.36% | 94,130 | $1.9M | Add +0.6% |
| DISV Dimensional International SM | 0.35% | 69,022 | $1.9M | Reduce -0.6% |
| RES RPC Inc. | 0.35% | 241,410 | $1.9M | Reduce -5.4% |
| TPL Texas Pacific Land Corp. | 0.35% | 3,195 | $1.8M | No change |
| AMGN Amgen Inc. | 0.35% | 6,447 | $1.8M | Add +6.2% |
| AVEM Avantis Emerging Markets Eq | 0.34% | 30,958 | $1.8M | Add +10.8% |
| CRGY Crescent Energy Inc. Class A | 0.34% | 150,528 | $1.8M | Add +4.2% |
| WBD Warner Bros Discovery Inc. | 0.34% | 204,481 | $1.8M | Add +11.3% |
| EQC Equity Commonwealth | 0.33% | 91,124 | $1.7M | Add +65.4% |
| JOE The St Joe Co. | 0.32% | 29,379 | $1.7M | Add +4.5% |
| DFAI Dimensional International Co. | 0.32% | 55,556 | $1.7M | Reduce -18.9% |
| SBR Sabine Royalty Trust | 0.32% | 26,549 | $1.7M | Reduce -6.2% |
| DMLP Dorchester Minerals LP | 0.31% | 48,639 | $1.6M | Reduce -8.3% |
| EMR Emerson Electric Co. | 0.29% | 13,616 | $1.5M | Reduce -2.6% |
| GAM General American Investors | 0.29% | 32,520 | $1.5M | Reduce -6.1% |
| VAL Valaris Ltd. | 0.27% | 19,202 | $1.4M | Add +12.0% |
| DIHP Dimensional International Hi | 0.26% | 51,772 | $1.4M | Reduce -9.3% |
| CVX Chevron Corp. | 0.26% | 8,841 | $1.4M | Reduce -1.0% |
| VIGI Vanguard Int Div App Indx FD | 0.26% | 16,909 | $1.4M | Reduce -7.1% |
| NMM Navios Maritime Partners LP | 0.26% | 32,340 | $1.4M | Reduce -0.6% |
| AXP American Express Co. | 0.24% | 5,629 | $1.3M | Reduce -8.3% |
| DEC Diversified Energy Co. PLC | 0.24% | 106,235 | $1.3M | New |
| CRC California Resources Corp. | 0.24% | 22,830 | $1.3M | Reduce -0.8% |
| CABO Cable One Inc. | 0.23% | 2,900 | $1.2M | Add +705.6% |
| DVN Devon Energy Corp. | 0.23% | 24,445 | $1.2M | Add +10.8% |
| BNY Bank of New York Mellon Corp. filed as BANK NEW YORK MELLON CORP | 0.23% | 21,210 | $1.2M | Reduce -13.1% |
| BUR Burford Capital Ltd. | 0.22% | 73,563 | $1.2M | Add +6.1% |
| CSWC Capital Southwest Corp. | 0.22% | 47,044 | $1.2M | Reduce -5.8% |
| CLB Core Laboratories Inc. | 0.20% | 63,462 | $1.1M | Reduce -2.7% |
| AGO Assured Guaranty Ltd. | 0.20% | 12,388 | $1.1M | Reduce -1.4% |
| NTR Nutrien Ltd. | 0.20% | 19,388 | $1.1M | Add +4.6% |
| SJT San Juan Basin Royalty TR | 0.20% | 196,109 | $1.0M | Reduce -10.1% |
| DO Diamond Offshore Drilling Inc. | 0.19% | 74,073 | $1.0M | Reduce -3.6% |
| ABT Abbott Laboratories | 0.19% | 8,881 | $1.0M | Reduce -8.3% |
| RVT Royce Small-Cap Trust Inc. | 0.18% | 64,330 | $976K | Reduce -0.8% |
| CVS CVS Health Corp. | 0.18% | 12,148 | $969K | Add +4.7% |
| APD Air Products & Chemicals Inc. | 0.18% | 3,830 | $928K | Add +0.4% |
| DD Dupont DE Nemours Inc. | 0.18% | 12,082 | $926K | Reduce -0.8% |
| IAU iShares Gold Trust | 0.17% | 21,617 | $908K | Add +6.4% |
| DFAC Dimensional US Core Equity 2 | 0.17% | 28,415 | $908K | Reduce -20.8% |
| IVOL Quadratic Int Rte Vol Infl H | 0.17% | 47,140 | $892K | No change |
| SU Suncor Energy Inc. | 0.17% | 23,823 | $879K | Reduce -1.6% |
| CVE Cenovus Energy Inc. | 0.16% | 43,515 | $870K | Add +23.6% |
| AVES Avantis Emerging Markets Val | 0.16% | 18,315 | $868K | Reduce -2.7% |
| HP Helmerich & Payne | 0.16% | 20,184 | $849K | Reduce -2.4% |
| AMAT Applied Materials Inc. | 0.15% | 3,973 | $819K | Add +11.5% |
| IEO iShares U.S. Oil & Gas Explo | 0.15% | 7,327 | $784K | Reduce -10.7% |
| CTO Cto Realty Growth Inc. filed as CTO RLTY GROWTH INC NEW | 0.14% | 44,339 | $752K | Reduce -33.5% |
| VONV Vanguard Russell 1000 Value | 0.14% | 9,421 | $741K | Reduce -6.8% |
| CNA Cna Financial Corp. | 0.14% | 15,858 | $720K | Reduce -3.1% |
| CTVA Corteva Inc. | 0.14% | 12,451 | $718K | Add +0.0% |
| COST Costco Wholesale Corp. | 0.13% | 961 | $704K | Reduce -2.5% |
| PSLV Sprott Physical Silver Trust | 0.13% | 84,725 | $702K | No change |
| DOW Dow Inc. | 0.13% | 12,111 | $702K | Add +0.0% |
| HAL Halliburton Co. | 0.13% | 17,736 | $699K | Add +20.4% |
Other holdings (1): bonds, preferreds, convertibles and warrants · $282K (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| OXY.WS Occidental Petroleum-CW27 | *W EXP 08/03/202 | 6,532 | $282K | Reduce -0.4% |
Total filed on the 13F, all lines: $529.1M.
Portfolio Sells Q4 2023 → Q1 2024
| CMBT CMB Tech NV | Sold out | 0.00% | −0.22 |
| UHAL.B U-Haul Holding Co.-Non Voting | Reduce -0.4% | 1.11% | −0.19 |
| VTIP Vanguard Short-Term Tips | Reduce -15.6% | 0.47% | −0.14 |
| JEF Jefferies Financial Group Inc. | Reduce -1.4% | 4.67% | −0.14 |
| CACC Credit Acceptance Corp. | Reduce -2.0% | 1.41% | −0.13 |
| ABEV Ambev SA-ADR | Reduce -5.6% | 0.37% | −0.12 |
| AAPL Apple Inc. | Reduce -3.4% | 0.41% | −0.12 |
| CUBI Customers Bancorp Inc. | Reduce -4.7% | 0.42% | −0.11 |
| VTV Vanguard Mrngstr Val ETF-Aui | Reduce -17.9% | 0.42% | −0.10 |
| CTO Cto Realty Growth Inc. | Reduce -33.5% | 0.14% | −0.10 |
| DFAI Dimensional International Co. | Reduce -18.9% | 0.32% | −0.09 |
| SWN Southwestern Energy Co. | Reduce -68.8% | 0.04% | −0.09 |
| RMT Royce Micro-Cap Trust Inc. | Reduce -3.0% | 0.74% | −0.09 |
| CRT Cross Timbers Royalty Trust | Reduce -11.9% | 0.13% | −0.09 |
| SBR Sabine Royalty Trust | Reduce -6.2% | 0.32% | −0.08 |
| CCJ Cameco Corp. | Sold out | 0.00% | −0.08 |
| LBRDK Liberty Broadband-C | Sold out | 0.00% | −0.08 |
| AMR Alpha Metallurgical Resource | Reduce -0.5% | 0.57% | −0.08 |
| SCHW Schwab (charles) Corp. | Reduce -5.8% | 0.51% | −0.06 |
| FNF Fidelity National Financial | Sold out | 0.00% | −0.05 |
| BR Broadridge Financial Solutio | Reduce -1.1% | 0.43% | −0.05 |
| BSM Black Stone Minerals LP | Reduce -1.8% | 0.40% | −0.05 |
| DFAC Dimensional US Core Equity 2 | Reduce -20.8% | 0.17% | −0.05 |
| DMLP Dorchester Minerals LP | Reduce -8.3% | 0.31% | −0.04 |
| DIHP Dimensional International Hi | Reduce -9.3% | 0.26% | −0.04 |
| DUHP Dimensional US High Profi Et | Sold out | 0.00% | −0.04 |
| VIGI Vanguard Int Div App Indx FD | Reduce -7.1% | 0.26% | −0.04 |
| WABC Westamerica Bancorporation | Reduce -31.3% | 0.05% | −0.04 |
| WY Weyerhaeuser Co. | Reduce -33.4% | 0.06% | −0.04 |
| CLB Core Laboratories Inc. | Reduce -2.7% | 0.20% | −0.04 |
| RES RPC Inc. | Reduce -5.4% | 0.35% | −0.04 |
| SJT San Juan Basin Royalty TR | Reduce -10.1% | 0.20% | −0.04 |
| BNY Bank of New York Mellon Corp. | Reduce -13.1% | 0.23% | −0.04 |
| ABT Abbott Laboratories | Reduce -8.3% | 0.19% | −0.03 |
| OEC Orion SA | Reduce -5.2% | 0.08% | −0.03 |
| VIG Vanguard Dividend Apprec ETF | Reduce -24.6% | 0.07% | −0.03 |
| VTOL Bristow Group Inc. | Reduce -5.2% | 0.13% | −0.03 |
| XSORX Source Capital Inc. | Reduce -21.7% | 0.08% | −0.03 |
| MAC The Macerich Co. | Reduce -22.3% | 0.10% | −0.03 |
| CSWC Capital Southwest Corp. | Reduce -5.8% | 0.22% | −0.03 |
| CRC California Resources Corp. | Reduce -0.8% | 0.24% | −0.03 |
| GAM General American Investors | Reduce -6.1% | 0.29% | −0.03 |
| L Loews Corp. | Reduce -2.1% | 3.82% | −0.02 |
| LBTYK Liberty Global Ltd. Class C | Reduce -20.4% | 0.05% | −0.02 |
| UHAL U-Haul Holding Co. | Reduce -13.0% | 0.06% | −0.02 |
| DD Dupont DE Nemours Inc. | Reduce -0.8% | 0.18% | −0.02 |
| ZTS Zoetis Inc. | Reduce -4.0% | 0.06% | −0.02 |
| DISV Dimensional International SM | Reduce -0.6% | 0.35% | −0.02 |
| NVS Novartis AG-Sponsored ADR | Reduce -0.5% | 0.12% | −0.02 |
| DO Diamond Offshore Drilling Inc. | Reduce -3.6% | 0.19% | −0.02 |
Portfolio Buys Q4 2023 → Q1 2024
| JAAA Janus Henderson Aaa Clo ETF | Add +172.3% | 0.73% | +0.43 |
| DFLV Dim US Large Cap Value ETF | Add +178.0% | 0.44% | +0.28 |
| DEC Diversified Energy Co. PLC | New | 0.24% | +0.24 |
| CABO Cable One Inc. | Add +705.6% | 0.23% | +0.19 |
| DFIV Dimensional International Va | Add +24.1% | 1.01% | +0.17 |
| AR Antero Resources Corp. | Add +2.7% | 0.72% | +0.11 |
| EQC Equity Commonwealth | Add +65.4% | 0.33% | +0.10 |
| PXE Invesco Energy Exploration | New | 0.10% | +0.10 |
| BN Brookfield Corp. | Add +14.4% | 1.20% | +0.09 |
| KF Korea Fund Inc. | New | 0.06% | +0.06 |
| OIH Vaneck Oil Services ETF | Add +16.3% | 0.37% | +0.04 |
| CVE Cenovus Energy Inc. | Add +23.6% | 0.16% | +0.04 |
| BAC Bank of America Corp. | New | 0.04% | +0.04 |
| VZ Verizon Communications Inc. | New | 0.04% | +0.04 |
| GNK Genco Shipping & Trading Ltd. | Add +0.6% | 0.36% | +0.04 |
| VYM Vanguard High DVD Yield ETF | Add +10.1% | 0.49% | +0.03 |
| AMAT Applied Materials Inc. | Add +11.5% | 0.15% | +0.03 |
| HNRG Hallador Energy Co. | New | 0.03% | +0.03 |
| VAL Valaris Ltd. | Add +12.0% | 0.27% | +0.03 |
| DVN Devon Energy Corp. | Add +10.8% | 0.23% | +0.02 |
| HAL Halliburton Co. | Add +20.4% | 0.13% | +0.02 |
| OXY Occidental Petroleum Corp. | Add +3.1% | 1.08% | +0.01 |
| CTVA Corteva Inc. | Add +0.0% | 0.14% | +0.01 |
| EQT Eqt Corp. | Add +27.1% | 0.11% | +0.01 |
| FCX Freeport-McMoran Inc. | Add +2.2% | 0.53% | +0.01 |
| AVEM Avantis Emerging Markets Eq | Add +10.8% | 0.34% | +0.01 |
| IAU iShares Gold Trust | Add +6.4% | 0.17% | +0.01 |
| BRFS BRF SA-ADR | Add +30.8% | 0.02% | +0.01 |
| MRO Marathon Oil Corp. | Add +1.6% | 0.05% | +0.00 |
| VTS Vitesse Energy Inc. | Add +2.7% | 0.61% | +0.00 |
| SLB SLB Ltd. | Add +4.8% | 0.66% | −0.00 |
| BUR Burford Capital Ltd. | Add +6.1% | 0.22% | −0.00 |
| LAD Lithia Motors Inc. | Add +5.6% | 0.04% | −0.01 |
| DOW Dow Inc. | Add +0.0% | 0.13% | −0.01 |
| CVS CVS Health Corp. | Add +4.7% | 0.18% | −0.01 |
| LUMN Lumen Technologies Inc. | Add +13.7% | 0.10% | −0.01 |
| NTR Nutrien Ltd. | Add +4.6% | 0.20% | −0.02 |
| AMGN Amgen Inc. | Add +6.2% | 0.35% | −0.02 |
| AVUV Avantis US Small Cap Value | Add +5.0% | 2.71% | −0.03 |
| JOE The St Joe Co. | Add +4.5% | 0.32% | −0.03 |
| AVDV Avantis Intl S/C Value ETF | Add +2.6% | 1.37% | −0.03 |
| APD Air Products & Chemicals Inc. | Add +0.4% | 0.18% | −0.04 |
| CRGY Crescent Energy Inc. Class A | Add +4.2% | 0.34% | −0.06 |
| WBD Warner Bros Discovery Inc. | Add +11.3% | 0.34% | −0.10 |
| MKL Markel Group Inc. | Add +1.1% | 5.25% | −0.12 |
| ESGR Enstar Group Ltd. | Add +1.1% | 6.05% | −0.23 |
Notes & Other Activity Q4 2023 → Q1 2024
| OXY.WS Occidental Petroleum-CW27 | *W EXP 08/03/202 | Reduce -0.4% | 6,532 | $282K |
Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 198 | $696.9M | BRK.B, FRFHF, WTM, WRB, USFR |
| Q1 2026 | 189 | $678.0M | BRK.B, FRFHF, WTM, WRB, USFR |
| Q4 2025 | 192 | $673.0M | BRK.B, FRFHF, WTM, WRB, MKL |
| Q3 2025 | 188 | $642.0M | BRK.B, FRFHF, WRB, WTM, JEF |
| Q2 2025 | 191 | $623.5M | BRK.B, FRFHF, WRB, WTM, MKL |
| Q1 2025Amended | 170 | $582.0M | BRK.B, WRB, FRFHF, WTM, MKL |
| Q4 2024Amended | 166 | $561.3M | BRK.B, JEF, FRFHF, WTM, WRB |
| Q3 2024Amended | 167 | $552.9M | BRK.B, FRFHF, WRB, WTM, JEF |
| Q2 2024Amended | 167 | $486.4M | BRK.B, WTM, WRB, ESGR, MKL |
| Q1 2024Amended | 177 | $528.9M | BRK.B, WTM, WRB, FRFHF, ESGR |