Mraz, Amerine & Associates, Inc.
In its 13F for Q2 2024 (holdings as of June 30, 2024, filed July 24, 2025), Mraz, Amerine & Associates, Inc. reported 167 stock positions worth $486.4 million. Its top holding was Berkshire Hathaway Class B (BRK.B) at 14.4% of the portfolio, followed by White Mountains Insurance GP (WTM, 7.9%) and WR Berkley (WRB, 6.9%). Compared with Q1 2024, it opened 2 new positions, sold out of 12, added to 44 and reduced 90. The biggest buy was Markel (MKL, shares +1%) and the biggest sale an exit from Fairfax Financial (FRFHF).
- Most Recent 13F
- Q2 2026
- Location
- Modesto, CA
- CIK
- 0001542324
- Portfolio Value
- $486.4M (Q2 2024)
- SEC Filing
- 0001214659-25-010856 ↗ filed Jul 24, 2025
Holdings Value
Holdings 167 stocks · $486.4M
| BRK.B Berkshire Hathaway Inc. Class B | 14.42% | 172,458 | $70.2M | Reduce -1.5% |
| WTM White Mountains Insurance GP | 7.86% | 21,031 | $38.2M | Reduce -2.4% |
| WRB WR Berkley Corp. filed as BERKLEY W R CORP | 6.94% | 429,833 | $33.8M | Reduce -0.1% |
| ESGR Enstar Group Ltd. | 6.50% | 103,462 | $31.6M | Add +0.5% |
| MKL Markel Group Inc. | 5.98% | 18,453 | $29.1M | Add +1.1% |
| JEF Jefferies Financial Group Inc. | 5.68% | 555,249 | $27.6M | Reduce -0.9% |
| L Loews Corp. | 3.90% | 253,772 | $19.0M | Reduce -1.6% |
| AVUV Avantis US Small Cap Value | 2.91% | 157,821 | $14.2M | Add +3.2% |
| MSFT Microsoft Corp. | 1.74% | 18,928 | $8.5M | Reduce -2.0% |
| AVDV Avantis Intl S/C Value ETF | 1.53% | 114,569 | $7.4M | Add +4.5% |
| BN Brookfield Corp. | 1.51% | 176,854 | $7.3M | Add +16.9% |
| CACC Credit Acceptance Corp. | 1.40% | 13,270 | $6.8M | Reduce -1.5% |
| DFIV Dimensional International Va | 1.28% | 173,700 | $6.2M | Add +19.5% |
| JAAA Janus Henderson Aaa Clo ETF | 1.25% | 119,868 | $6.1M | Add +57.8% |
| CNQ Canadian Natural Resources | 1.23% | 168,282 | $6.0M | Add +1.4% |
| OXY Occidental Petroleum Corp. | 1.20% | 92,809 | $5.8M | Add +5.7% |
| UHAL.B U-Haul Holding Co.-Non Voting | 1.09% | 88,533 | $5.3M | Add +0.4% |
| BRK.A Berkshire Hathaway Inc. Class A | 0.88% | 7 | $4.3M | No change |
| AR Antero Resources Corp. | 0.87% | 130,048 | $4.2M | Reduce -1.1% |
| LEN.B Lennar Corp. Class B | 0.87% | 30,228 | $4.2M | Reduce -2.2% |
| RMT Royce Micro-Cap Trust Inc. | 0.76% | 402,102 | $3.7M | Reduce -3.5% |
| TDW Tidewater Inc. | 0.74% | 37,861 | $3.6M | Reduce -0.8% |
| SLB SLB Ltd. filed as SCHLUMBERGER LTD | 0.71% | 73,409 | $3.5M | Add +15.8% |
| NVR NVR Inc. | 0.71% | 455 | $3.5M | Reduce -1.1% |
| VTS Vitesse Energy Inc. | 0.68% | 138,819 | $3.3M | Add +2.0% |
| VAL Valaris Ltd. | 0.66% | 43,057 | $3.2M | Add +124.2% |
| CTRA Coterra Energy Inc. | 0.65% | 118,496 | $3.2M | Reduce -0.0% |
| FCX Freeport-McMoran Inc. | 0.58% | 58,001 | $2.8M | Reduce -3.5% |
| GHC Graham Holdings Co. Class B | 0.57% | 3,998 | $2.8M | Reduce -0.5% |
| SCHW Schwab (charles) Corp. | 0.55% | 36,063 | $2.7M | Reduce -3.9% |
| JNJ Johnson & Johnson | 0.52% | 17,421 | $2.5M | Reduce -2.1% |
| AMR Alpha Metallurgical Resource | 0.52% | 9,030 | $2.5M | No change |
| AAPL Apple Inc. | 0.51% | 11,788 | $2.5M | Reduce -5.6% |
| TPL Texas Pacific Land Corp. | 0.48% | 3,176 | $2.3M | Reduce -0.6% |
| DFLV Dim US Large Cap Value ETF | 0.47% | 78,362 | $2.3M | Reduce -0.0% |
| CLF Cleveland-Cliffs Inc. | 0.46% | 144,665 | $2.2M | Add +3.4% |
| AMGN Amgen Inc. | 0.45% | 7,024 | $2.2M | Add +8.9% |
| AVEM Avantis Emerging Markets Eq | 0.43% | 34,555 | $2.1M | Add +11.6% |
| FCNCA First Citizens Bcshs Class A | 0.43% | 1,241 | $2.1M | Reduce -2.7% |
| VYM Vanguard High DVD Yield ETF | 0.42% | 17,395 | $2.1M | Reduce -18.0% |
| BR Broadridge Financial Solutio | 0.42% | 10,427 | $2.1M | Reduce -5.6% |
| CUBI Customers Bancorp Inc. | 0.41% | 41,991 | $2.0M | Reduce -0.8% |
| BSM Black Stone Minerals LP | 0.41% | 125,845 | $2.0M | Reduce -3.8% |
| OIH Vaneck Oil Services ETF | 0.40% | 6,157 | $1.9M | Add +7.0% |
| CRGY Crescent Energy Inc. Class A | 0.39% | 161,823 | $1.9M | Add +7.5% |
| VTV Vanguard Mrngstr Val ETF-Aui | 0.39% | 11,892 | $1.9M | Reduce -13.3% |
| GNK Genco Shipping & Trading Ltd. | 0.39% | 88,772 | $1.9M | Reduce -5.7% |
| EQC Equity Commonwealth | 0.38% | 96,149 | $1.9M | Add +5.5% |
| DISV Dimensional International SM | 0.38% | 68,856 | $1.9M | Reduce -0.2% |
| JOE The St Joe Co. | 0.37% | 32,975 | $1.8M | Add +12.2% |
| WBD Warner Bros Discovery Inc. | 0.37% | 241,582 | $1.8M | Add +18.1% |
| COP Conocophillips | 0.35% | 15,048 | $1.7M | Reduce -5.6% |
| SBR Sabine Royalty Trust | 0.34% | 25,958 | $1.7M | Reduce -2.2% |
| NMM Navios Maritime Partners LP | 0.34% | 32,276 | $1.6M | Reduce -0.2% |
| VTIP Vanguard Short-Term Tips | 0.33% | 32,724 | $1.6M | Reduce -36.5% |
| ABEV Ambev SA-ADR | 0.32% | 760,394 | $1.6M | Reduce -3.5% |
| DFAI Dimensional International Co. | 0.31% | 50,759 | $1.5M | Reduce -8.6% |
| DMLP Dorchester Minerals LP | 0.31% | 48,339 | $1.5M | Reduce -0.6% |
| DEC Diversified Energy Co. PLC | 0.30% | 108,279 | $1.5M | Add +1.9% |
| EMR Emerson Electric Co. | 0.30% | 13,030 | $1.4M | Reduce -4.3% |
| CVX Chevron Corp. | 0.28% | 8,646 | $1.4M | Reduce -2.2% |
| CABO Cable One Inc. | 0.28% | 3,811 | $1.3M | Add +31.4% |
| GAM General American Investors | 0.27% | 26,632 | $1.3M | Reduce -18.1% |
| AXP American Express Co. | 0.27% | 5,667 | $1.3M | Add +0.7% |
| DIHP Dimensional International Hi | 0.27% | 49,437 | $1.3M | Reduce -4.5% |
| BUR Burford Capital Ltd. | 0.27% | 98,860 | $1.3M | Add +34.4% |
| BNY Bank of New York Mellon Corp. filed as BANK NEW YORK MELLON CORP | 0.26% | 21,210 | $1.3M | No change |
| CLB Core Laboratories Inc. | 0.26% | 62,205 | $1.3M | Reduce -2.0% |
| VIGI Vanguard Int Div App Indx FD | 0.26% | 15,420 | $1.3M | Reduce -8.8% |
| DVN Devon Energy Corp. | 0.26% | 26,388 | $1.3M | Add +8.0% |
| CRC California Resources Corp. | 0.24% | 22,348 | $1.2M | Reduce -2.1% |
| CSWC Capital Southwest Corp. | 0.24% | 45,552 | $1.2M | Reduce -3.2% |
| CVS CVS Health Corp. | 0.23% | 18,621 | $1.1M | Add +53.3% |
| CVE Cenovus Energy Inc. | 0.22% | 54,511 | $1.1M | Add +25.3% |
| NTR Nutrien Ltd. | 0.21% | 20,508 | $1.0M | Add +5.8% |
| APD Air Products & Chemicals Inc. | 0.20% | 3,842 | $991K | Add +0.3% |
| DD Dupont DE Nemours Inc. | 0.20% | 12,083 | $973K | Add +0.0% |
| AGO Assured Guaranty Ltd. | 0.19% | 12,175 | $939K | Reduce -1.7% |
| SU Suncor Energy Inc. | 0.18% | 23,593 | $899K | Reduce -1.0% |
| IAU iShares Gold Trust | 0.18% | 20,367 | $895K | Reduce -5.8% |
| RVT Royce Small-Cap Trust Inc. | 0.18% | 61,025 | $883K | Reduce -5.1% |
| AVES Avantis Emerging Markets Val | 0.18% | 18,091 | $882K | Reduce -1.2% |
| KF Korea Fund Inc. | 0.18% | 36,025 | $869K | Add +169.8% |
| AMAT Applied Materials Inc. | 0.18% | 3,683 | $869K | Reduce -7.3% |
| HAL Halliburton Co. | 0.18% | 25,619 | $865K | Add +44.5% |
| PSLV Sprott Physical Silver Trust | 0.17% | 84,725 | $841K | No change |
| SJT San Juan Basin Royalty TR | 0.17% | 206,566 | $835K | Add +5.3% |
| COST Costco Wholesale Corp. | 0.17% | 961 | $817K | No change |
| VTOL Bristow Group Inc. | 0.17% | 24,309 | $815K | Reduce -0.3% |
| DFAC Dimensional US Core Equity 2 | 0.16% | 24,184 | $780K | Reduce -14.9% |
| NE Noble Corp. PLC | 0.16% | 17,079 | $763K | New |
| IVOL Quadratic Int Rte Vol Infl H | 0.15% | 39,866 | $738K | Reduce -15.4% |
| ABT Abbott Laboratories | 0.15% | 6,871 | $714K | Reduce -22.6% |
| IEO iShares U.S. Oil & Gas Explo | 0.15% | 7,114 | $708K | Reduce -2.9% |
| PXE Invesco Energy Exploration | 0.14% | 21,138 | $699K | Add +39.7% |
| CNA Cna Financial Corp. | 0.14% | 14,867 | $685K | Reduce -6.3% |
| CTVA Corteva Inc. | 0.14% | 12,452 | $672K | Add +0.0% |
| NVS Novartis AG-Sponsored ADR | 0.14% | 6,298 | $670K | Reduce -1.6% |
| DO Diamond Offshore Drilling Inc. | 0.14% | 43,238 | $670K | Reduce -41.6% |
| FWONK Liberty Media Corp. Class C | 0.14% | 9,316 | $669K | Reduce -4.2% |
Other holdings (1): bonds, preferreds, convertibles and warrants · $269K (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| OXY.WS Occidental Petroleum-CW27 | *W EXP 08/03/202 | 6,531 | $269K | Reduce -0.0% |
Total filed on the 13F, all lines: $486.7M.
Portfolio Sells Q1 2024 → Q2 2024
| FRFHF Fairfax Financial Hldgs Ltd. | Sold out | 0.00% | −6.39 |
| RES RPC Inc. | Reduce -87.6% | 0.04% | −0.31 |
| WRB WR Berkley Corp. | Reduce -0.1% | 6.94% | −0.25 |
| VTIP Vanguard Short-Term Tips | Reduce -36.5% | 0.33% | −0.14 |
| HP Helmerich & Payne | Reduce -47.2% | 0.08% | −0.08 |
| VYM Vanguard High DVD Yield ETF | Reduce -18.0% | 0.42% | −0.06 |
| PDS Precision Drilling Corp. | Sold out | 0.00% | −0.06 |
| DO Diamond Offshore Drilling Inc. | Reduce -41.6% | 0.14% | −0.05 |
| CSCO Cisco Systems Inc. | Sold out | 0.00% | −0.05 |
| ABEV Ambev SA-ADR | Reduce -3.5% | 0.32% | −0.05 |
| ABT Abbott Laboratories | Reduce -22.6% | 0.15% | −0.04 |
| MET Metlife Inc. | Sold out | 0.00% | −0.04 |
| TRMD Torm PLC-A | Sold out | 0.00% | −0.04 |
| LAD Lithia Motors Inc. | Sold out | 0.00% | −0.04 |
| BAC Bank of America Corp. | Sold out | 0.00% | −0.04 |
| BX Blackstone Inc. | Sold out | 0.00% | −0.04 |
| PNC PNC Financial Services Group | Sold out | 0.00% | −0.04 |
| VGK Vanguard Ftse Europe ETF | Sold out | 0.00% | −0.04 |
| LEN.B Lennar Corp. Class B | Reduce -2.2% | 0.87% | −0.03 |
| CTO Cto Realty Growth Inc. | Reduce -30.5% | 0.11% | −0.03 |
| VTV Vanguard Mrngstr Val ETF-Aui | Reduce -13.3% | 0.39% | −0.03 |
| COP Conocophillips | Reduce -5.6% | 0.35% | −0.03 |
| CRT Cross Timbers Royalty Trust | Reduce -8.9% | 0.10% | −0.02 |
| PTEN Patterson-Uti Energy Inc. | Reduce -44.0% | 0.02% | −0.02 |
| GRINDROD SHIPPING HOLDINGS L | Sold out | 0.00% | −0.02 |
| OSG Octave Specialty Group Inc. | Reduce -21.3% | 0.04% | −0.02 |
| IVOL Quadratic Int Rte Vol Infl H | Reduce -15.4% | 0.15% | −0.02 |
| GEOS Geospace Technologies Corp. | Reduce -0.3% | 0.05% | −0.02 |
| GAM General American Investors | Reduce -18.1% | 0.27% | −0.01 |
| WY Weyerhaeuser Co. | Reduce -6.3% | 0.05% | −0.01 |
| DFAC Dimensional US Core Equity 2 | Reduce -14.9% | 0.16% | −0.01 |
| AGO Assured Guaranty Ltd. | Reduce -1.7% | 0.19% | −0.01 |
| CUBI Customers Bancorp Inc. | Reduce -0.8% | 0.41% | −0.01 |
| RRC Range Resources Corp. | Reduce -24.0% | 0.04% | −0.01 |
| JNJ Johnson & Johnson | Reduce -2.1% | 0.52% | −0.01 |
| VEA Vanguard Ftse Developed ETF | Reduce -21.4% | 0.04% | −0.01 |
| GHC Graham Holdings Co. Class B | Reduce -0.5% | 0.57% | −0.01 |
| DFAI Dimensional International Co. | Reduce -8.6% | 0.31% | −0.01 |
| VIG Vanguard Dividend Apprec ETF | Reduce -15.6% | 0.07% | −0.01 |
| FUND Sprott Focus Trust Inc. | Reduce -26.0% | 0.02% | −0.01 |
| VONV Vanguard Russell 1000 Value | Reduce -9.3% | 0.13% | −0.01 |
| BR Broadridge Financial Solutio | Reduce -5.6% | 0.42% | −0.01 |
| DJCO Daily Journal Corp. | Reduce -22.5% | 0.06% | −0.00 |
| UHAL U-Haul Holding Co. | Reduce -5.5% | 0.06% | −0.00 |
| DMLP Dorchester Minerals LP | Reduce -0.6% | 0.31% | −0.00 |
| MAC The Macerich Co. | Reduce -1.2% | 0.09% | −0.00 |
| RVT Royce Small-Cap Trust Inc. | Reduce -5.1% | 0.18% | −0.00 |
| VIGI Vanguard Int Div App Indx FD | Reduce -8.8% | 0.26% | −0.00 |
| IEO iShares U.S. Oil & Gas Explo | Reduce -2.9% | 0.15% | −0.00 |
| MTR Mesa Royalty Trust | Reduce -0.8% | 0.02% | −0.00 |
Portfolio Buys Q1 2024 → Q2 2024
| MKL Markel Group Inc. | Add +1.1% | 5.98% | +0.73 |
| JAAA Janus Henderson Aaa Clo ETF | Add +57.8% | 1.25% | +0.53 |
| ESGR Enstar Group Ltd. | Add +0.5% | 6.50% | +0.45 |
| VAL Valaris Ltd. | Add +124.2% | 0.66% | +0.39 |
| BN Brookfield Corp. | Add +16.9% | 1.51% | +0.31 |
| DFIV Dimensional International Va | Add +19.5% | 1.28% | +0.27 |
| AVUV Avantis US Small Cap Value | Add +3.2% | 2.91% | +0.20 |
| AVDV Avantis Intl S/C Value ETF | Add +4.5% | 1.53% | +0.16 |
| NE Noble Corp. PLC | New | 0.16% | +0.16 |
| OXY Occidental Petroleum Corp. | Add +5.7% | 1.20% | +0.12 |
| KF Korea Fund Inc. | Add +169.8% | 0.18% | +0.11 |
| EWJV iShares MSCI Japan Value ETF | New | 0.11% | +0.11 |
| AMGN Amgen Inc. | Add +8.9% | 0.45% | +0.10 |
| AVEM Avantis Emerging Markets Eq | Add +11.6% | 0.43% | +0.09 |
| VTS Vitesse Energy Inc. | Add +2.0% | 0.68% | +0.07 |
| DEC Diversified Energy Co. PLC | Add +1.9% | 0.30% | +0.06 |
| EQC Equity Commonwealth | Add +5.5% | 0.38% | +0.06 |
| CVE Cenovus Energy Inc. | Add +25.3% | 0.22% | +0.06 |
| CRGY Crescent Energy Inc. Class A | Add +7.5% | 0.39% | +0.06 |
| SLB SLB Ltd. | Add +15.8% | 0.71% | +0.05 |
| JOE The St Joe Co. | Add +12.2% | 0.37% | +0.05 |
| HAL Halliburton Co. | Add +44.5% | 0.18% | +0.05 |
| CABO Cable One Inc. | Add +31.4% | 0.28% | +0.05 |
| BUR Burford Capital Ltd. | Add +34.4% | 0.27% | +0.04 |
| CVS CVS Health Corp. | Add +53.3% | 0.23% | +0.04 |
| PXE Invesco Energy Exploration | Add +39.7% | 0.14% | +0.04 |
| CNQ Canadian Natural Resources | Add +1.4% | 1.23% | +0.03 |
| OIH Vaneck Oil Services ETF | Add +7.0% | 0.40% | +0.03 |
| WBD Warner Bros Discovery Inc. | Add +18.1% | 0.37% | +0.03 |
| QCOM Qualcomm Inc. | Add +9.5% | 0.11% | +0.03 |
| APD Air Products & Chemicals Inc. | Add +0.3% | 0.20% | +0.03 |
| AXP American Express Co. | Add +0.7% | 0.27% | +0.03 |
| DVN Devon Energy Corp. | Add +8.0% | 0.26% | +0.03 |
| DD Dupont DE Nemours Inc. | Add +0.0% | 0.20% | +0.02 |
| HNRG Hallador Energy Co. | Add +3.4% | 0.05% | +0.02 |
| NTR Nutrien Ltd. | Add +5.8% | 0.21% | +0.02 |
| XOM Exxon Mobil Corp. | Add +19.8% | 0.06% | +0.01 |
| EQT Eqt Corp. | Add +0.1% | 0.11% | +0.01 |
| ENB Enbridge Inc. | Add +4.8% | 0.06% | +0.01 |
| CTVA Corteva Inc. | Add +0.0% | 0.14% | +0.00 |
| QURE Uniqure NV | Add +4.5% | 0.01% | −0.00 |
| DOW Dow Inc. | Add +0.0% | 0.13% | −0.00 |
| LUMN Lumen Technologies Inc. | Add +12.7% | 0.08% | −0.01 |
| UHAL.B U-Haul Holding Co.-Non Voting | Add +0.4% | 1.09% | −0.02 |
| SJT San Juan Basin Royalty TR | Add +5.3% | 0.17% | −0.03 |
| CLF Cleveland-Cliffs Inc. | Add +3.4% | 0.46% | −0.14 |
Notes & Other Activity Q1 2024 → Q2 2024
| OXY.WS Occidental Petroleum-CW27 | *W EXP 08/03/202 | Reduce -0.0% | 6,531 | $269K |
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 |