Mraz, Amerine & Associates, Inc.
In its 13F for Q3 2024 (holdings as of September 30, 2024, filed July 24, 2025), Mraz, Amerine & Associates, Inc. reported 167 stock positions worth $552.9 million. Its top holding was Berkshire Hathaway Class B (BRK.B) at 14.0% of the portfolio, followed by Fairfax Financial (FRFHF, 7.0%) and WR Berkley (WRB, 6.7%). Compared with Q2 2024, it opened 11 new positions, sold out of 11, added to 39 and reduced 89. The biggest buy was a new position in Fairfax Financial (FRFHF) and the biggest sale Enstar (ESGR, shares −1%).
- Most Recent 13F
- Q2 2026
- Location
- Modesto, CA
- CIK
- 0001542324
- Portfolio Value
- $552.9M (Q3 2024)
- SEC Filing
- 0001214659-25-010857 ↗ filed Jul 24, 2025
Holdings Value
Holdings 167 stocks · $552.9M
| BRK.B Berkshire Hathaway Inc. Class B | 14.03% | 168,510 | $77.6M | Reduce -2.3% |
| FRFHF Fairfax Financial Hldgs Ltd. | 6.98% | 30,569 | $38.6M | New |
| WRB WR Berkley Corp. filed as BERKLEY W R CORP | 6.68% | 651,263 | $36.9M | Add +1.0% |
| WTM White Mountains Insurance GP | 6.50% | 21,198 | $36.0M | Add +0.8% |
| JEF Jefferies Financial Group Inc. | 6.08% | 546,278 | $33.6M | Reduce -1.6% |
| ESGR Enstar Group Ltd. | 5.95% | 102,314 | $32.9M | Reduce -1.1% |
| MKL Markel Group Inc. | 5.24% | 18,489 | $29.0M | Add +0.2% |
| L Loews Corp. | 3.61% | 252,226 | $19.9M | Reduce -0.6% |
| AVUV Avantis US Small Cap Value | 2.78% | 160,419 | $15.4M | Add +1.6% |
| BN Brookfield Corp. | 1.81% | 188,080 | $10.0M | Add +6.3% |
| JAAA Janus Henderson Aaa Clo ETF | 1.59% | 173,038 | $8.8M | Add +44.4% |
| MSFT Microsoft Corp. | 1.47% | 18,928 | $8.1M | No change |
| AVDV Avantis Intl S/C Value ETF | 1.47% | 114,642 | $8.1M | Add +0.1% |
| DFIV Dimensional International Va | 1.31% | 190,623 | $7.3M | Add +9.7% |
| UHAL.B U-Haul Holding Co.-Non Voting | 1.14% | 87,798 | $6.3M | Reduce -0.8% |
| CACC Credit Acceptance Corp. | 1.08% | 13,411 | $5.9M | Add +1.1% |
| CNQ Canadian Natural Resources | 1.05% | 175,277 | $5.8M | Add +4.2% |
| LEN.B Lennar Corp. Class B | 0.95% | 30,219 | $5.2M | Reduce -0.0% |
| OXY Occidental Petroleum Corp. | 0.92% | 98,523 | $5.1M | Add +6.2% |
| BRK.A Berkshire Hathaway Inc. Class A | 0.88% | 7 | $4.8M | No change |
| NVR NVR Inc. | 0.80% | 452 | $4.4M | Reduce -0.7% |
| AR Antero Resources Corp. | 0.73% | 140,566 | $4.0M | Add +8.1% |
| RMT Royce Micro-Cap Trust Inc. | 0.69% | 394,480 | $3.8M | Reduce -1.9% |
| SLB SLB Ltd. filed as SCHLUMBERGER LTD | 0.64% | 84,194 | $3.5M | Add +14.7% |
| VTS Vitesse Energy Inc. | 0.63% | 144,455 | $3.5M | Add +4.1% |
| GHC Graham Holdings Co. Class B | 0.59% | 3,955 | $3.3M | Reduce -1.1% |
| FCX Freeport-McMoran Inc. | 0.52% | 57,069 | $2.8M | Reduce -1.6% |
| CTRA Coterra Energy Inc. | 0.51% | 118,460 | $2.8M | Reduce -0.0% |
| JNJ Johnson & Johnson | 0.51% | 17,358 | $2.8M | Reduce -0.4% |
| AAPL Apple Inc. | 0.49% | 11,739 | $2.7M | Reduce -0.4% |
| TDW Tidewater Inc. | 0.49% | 37,761 | $2.7M | Reduce -0.3% |
| TPL Texas Pacific Land Corp. | 0.46% | 2,894 | $2.6M | Reduce -8.9% |
| DFLV Dim US Large Cap Value ETF | 0.43% | 76,453 | $2.4M | Reduce -2.4% |
| AVEM Avantis Emerging Markets Eq | 0.42% | 36,279 | $2.3M | Add +5.0% |
| VAL Valaris Ltd. | 0.42% | 41,472 | $2.3M | Reduce -3.7% |
| LUMN Lumen Technologies Inc. | 0.41% | 318,806 | $2.3M | Reduce -13.3% |
| AMGN Amgen Inc. | 0.41% | 7,024 | $2.3M | No change |
| CVE Cenovus Energy Inc. | 0.41% | 135,118 | $2.3M | Add +147.9% |
| VYM Vanguard High DVD Yield ETF | 0.40% | 17,290 | $2.2M | Reduce -0.6% |
| BR Broadridge Financial Solutio | 0.40% | 10,245 | $2.2M | Reduce -1.8% |
| FCNCA First Citizens Bcshs Class A | 0.39% | 1,180 | $2.2M | Reduce -4.9% |
| AMR Alpha Metallurgical Resource | 0.37% | 8,705 | $2.1M | Reduce -3.6% |
| SCHW Schwab (charles) Corp. | 0.37% | 31,657 | $2.1M | Reduce -12.2% |
| WBD Warner Bros Discovery Inc. | 0.37% | 245,313 | $2.0M | Add +1.5% |
| DISV Dimensional International SM | 0.36% | 68,856 | $2.0M | No change |
| JOE The St Joe Co. | 0.35% | 33,547 | $2.0M | Add +1.7% |
| CLF Cleveland-Cliffs Inc. | 0.35% | 151,223 | $1.9M | Add +4.5% |
| CUBI Customers Bancorp Inc. | 0.34% | 40,777 | $1.9M | Reduce -2.9% |
| BSM Black Stone Minerals LP | 0.34% | 125,287 | $1.9M | Reduce -0.4% |
| OIH Vaneck Oil Services ETF | 0.34% | 6,662 | $1.9M | Add +8.2% |
| NMM Navios Maritime Partners LP | 0.34% | 29,896 | $1.9M | Reduce -7.4% |
| CABO Cable One Inc. | 0.33% | 5,199 | $1.8M | Add +36.4% |
| EQC Equity Commonwealth | 0.33% | 90,860 | $1.8M | Reduce -5.5% |
| SBLK Star Bulk Carriers Corp. | 0.32% | 75,095 | $1.8M | New |
| VTV Vanguard Mrngstr Val ETF-Aui | 0.32% | 10,175 | $1.8M | Reduce -14.4% |
| CRGY Crescent Energy Inc. Class A | 0.32% | 159,827 | $1.8M | Reduce -1.2% |
| ABEV Ambev SA-ADR | 0.31% | 712,757 | $1.7M | Reduce -6.3% |
| BUR Burford Capital Ltd. | 0.30% | 123,659 | $1.6M | Add +25.1% |
| SBR Sabine Royalty Trust | 0.29% | 25,658 | $1.6M | Reduce -1.2% |
| COP Conocophillips | 0.28% | 14,951 | $1.6M | Reduce -0.6% |
| VTIP Vanguard Short-Term Tips | 0.27% | 30,732 | $1.5M | Reduce -6.1% |
| DFAI Dimensional International Co. | 0.27% | 47,137 | $1.5M | Reduce -7.1% |
| BNY Bank of New York Mellon Corp. filed as BANK NEW YORK MELLON CORP | 0.26% | 20,210 | $1.5M | Reduce -4.7% |
| DMLP Dorchester Minerals LP | 0.26% | 47,439 | $1.4M | Reduce -1.9% |
| NE Noble Corp. PLC | 0.25% | 37,749 | $1.4M | Add +121.0% |
| DEC Diversified Energy Co. PLC | 0.24% | 117,366 | $1.3M | Add +8.4% |
| AXP American Express Co. | 0.24% | 4,881 | $1.3M | Reduce -13.9% |
| EMR Emerson Electric Co. | 0.24% | 11,945 | $1.3M | Reduce -8.3% |
| CVS CVS Health Corp. | 0.23% | 20,643 | $1.3M | Add +10.9% |
| DIHP Dimensional International Hi | 0.23% | 45,722 | $1.3M | Reduce -7.5% |
| GAM General American Investors | 0.23% | 23,431 | $1.3M | Reduce -12.0% |
| CVX Chevron Corp. | 0.23% | 8,491 | $1.3M | Reduce -1.8% |
| DVN Devon Energy Corp. | 0.22% | 30,989 | $1.2M | Add +17.4% |
| VIGI Vanguard Int Div App Indx FD | 0.22% | 13,630 | $1.2M | Reduce -11.6% |
| CRC California Resources Corp. | 0.21% | 22,477 | $1.2M | Add +0.6% |
| APD Air Products & Chemicals Inc. | 0.21% | 3,853 | $1.1M | Add +0.3% |
| CSWC Capital Southwest Corp. | 0.21% | 45,244 | $1.1M | Reduce -0.7% |
| HAL Halliburton Co. | 0.20% | 38,771 | $1.1M | Add +51.3% |
| KF Korea Fund Inc. | 0.20% | 49,210 | $1.1M | Add +36.6% |
| NTR Nutrien Ltd. | 0.20% | 22,949 | $1.1M | Add +11.9% |
| DD Dupont DE Nemours Inc. | 0.19% | 12,083 | $1.1M | No change |
| IAU iShares Gold Trust | 0.18% | 20,367 | $1.0M | No change |
| AGO Assured Guaranty Ltd. | 0.17% | 11,898 | $946K | Reduce -2.3% |
| AVES Avantis Emerging Markets Val | 0.17% | 17,970 | $937K | Reduce -0.7% |
| RVT Royce Small-Cap Trust Inc. | 0.16% | 57,339 | $900K | Reduce -6.0% |
| PSLV Sprott Physical Silver Trust | 0.16% | 84,725 | $885K | No change |
| SU Suncor Energy Inc. | 0.16% | 23,593 | $871K | No change |
| COST Costco Wholesale Corp. | 0.15% | 961 | $852K | No change |
| VTOL Bristow Group Inc. | 0.15% | 24,144 | $838K | Reduce -0.7% |
| PXE Invesco Energy Exploration | 0.15% | 28,228 | $837K | Add +33.5% |
| EWJV iShares MSCI Japan Value ETF | 0.14% | 24,047 | $794K | Add +44.5% |
| DFAC Dimensional US Core Equity 2 | 0.14% | 22,070 | $757K | Reduce -8.7% |
| OFG Ofg Bancorp | 0.13% | 16,400 | $737K | No change |
| CTVA Corteva Inc. | 0.13% | 12,454 | $732K | Add +0.0% |
| SJT San Juan Basin Royalty TR | 0.13% | 193,071 | $711K | Reduce -6.5% |
| AMAT Applied Materials Inc. | 0.13% | 3,485 | $704K | Reduce -5.4% |
| VONV Vanguard Russell 1000 Value | 0.13% | 8,412 | $701K | Reduce -1.5% |
| ABT Abbott Laboratories | 0.12% | 5,988 | $683K | Reduce -12.8% |
| FWONK Liberty Media Corp. Class C | 0.12% | 8,620 | $667K | Reduce -7.5% |
| DOW Dow Inc. | 0.12% | 12,117 | $662K | Add +0.0% |
Portfolio Sells Q2 2024 → Q3 2024
| ESGR Enstar Group Ltd. | Reduce -1.1% | 5.95% | −0.55 |
| BRK.B Berkshire Hathaway Inc. Class B | Reduce -2.3% | 14.03% | −0.40 |
| GNK Genco Shipping & Trading Ltd. | Sold out | 0.00% | −0.39 |
| L Loews Corp. | Reduce -0.6% | 3.61% | −0.29 |
| CLB Core Laboratories Inc. | Sold out | 0.00% | −0.26 |
| TDW Tidewater Inc. | Reduce -0.3% | 0.49% | −0.25 |
| VAL Valaris Ltd. | Reduce -3.7% | 0.42% | −0.24 |
| SCHW Schwab (charles) Corp. | Reduce -12.2% | 0.37% | −0.18 |
| AMR Alpha Metallurgical Resource | Reduce -3.6% | 0.37% | −0.15 |
| DO Diamond Offshore Drilling Inc. | Sold out | 0.00% | −0.14 |
| CTRA Coterra Energy Inc. | Reduce -0.0% | 0.51% | −0.14 |
| EBAY eBay Inc. | Sold out | 0.00% | −0.12 |
| CRGY Crescent Energy Inc. Class A | Reduce -1.2% | 0.32% | −0.08 |
| RMT Royce Micro-Cap Trust Inc. | Reduce -1.9% | 0.69% | −0.07 |
| CUBI Customers Bancorp Inc. | Reduce -2.9% | 0.34% | −0.07 |
| VTV Vanguard Mrngstr Val ETF-Aui | Reduce -14.4% | 0.32% | −0.07 |
| COP Conocophillips | Reduce -0.6% | 0.28% | −0.07 |
| FCX Freeport-McMoran Inc. | Reduce -1.6% | 0.52% | −0.06 |
| BSM Black Stone Minerals LP | Reduce -0.4% | 0.34% | −0.06 |
| EMR Emerson Electric Co. | Reduce -8.3% | 0.24% | −0.06 |
| SBR Sabine Royalty Trust | Reduce -1.2% | 0.29% | −0.06 |
| MAC The Macerich Co. | Reduce -64.1% | 0.03% | −0.06 |
| EQC Equity Commonwealth | Reduce -5.5% | 0.33% | −0.06 |
| VTIP Vanguard Short-Term Tips | Reduce -6.1% | 0.27% | −0.05 |
| CVX Chevron Corp. | Reduce -1.8% | 0.23% | −0.05 |
| AMAT Applied Materials Inc. | Reduce -5.4% | 0.13% | −0.05 |
| DMLP Dorchester Minerals LP | Reduce -1.9% | 0.26% | −0.05 |
| GAM General American Investors | Reduce -12.0% | 0.23% | −0.04 |
| RRC Range Resources Corp. | Sold out | 0.00% | −0.04 |
| X United States Steel Corp. | Sold out | 0.00% | −0.04 |
| SJT San Juan Basin Royalty TR | Reduce -6.5% | 0.13% | −0.04 |
| OVLY Oak Valley Bancorp | Sold out | 0.00% | −0.04 |
| NVS Novartis AG-Sponsored ADR | Reduce -27.1% | 0.10% | −0.04 |
| MCK McKesson Corp. | Sold out | 0.00% | −0.04 |
| VIGI Vanguard Int Div App Indx FD | Reduce -11.6% | 0.22% | −0.04 |
| DFLV Dim US Large Cap Value ETF | Reduce -2.4% | 0.43% | −0.04 |
| DFAI Dimensional International Co. | Reduce -7.1% | 0.27% | −0.04 |
| RES RPC Inc. | Sold out | 0.00% | −0.04 |
| DIHP Dimensional International Hi | Reduce -7.5% | 0.23% | −0.04 |
| CNA Cna Financial Corp. | Reduce -21.6% | 0.10% | −0.04 |
| CSWC Capital Southwest Corp. | Reduce -0.7% | 0.21% | −0.04 |
| HP Helmerich & Payne | Reduce -28.6% | 0.04% | −0.04 |
| FCNCA First Citizens Bcshs Class A | Reduce -4.9% | 0.39% | −0.04 |
| BPMC Blueprint Medicines Corp. | Reduce -2.8% | 0.10% | −0.04 |
| QCOM Qualcomm Inc. | Reduce -8.7% | 0.07% | −0.03 |
| IVOL Quadratic Int Rte Vol Infl H | Reduce -14.7% | 0.12% | −0.03 |
| IEO iShares U.S. Oil & Gas Explo | Reduce -3.1% | 0.11% | −0.03 |
| AXP American Express Co. | Reduce -13.9% | 0.24% | −0.03 |
| CTO Cto Realty Growth Inc. | Reduce -23.3% | 0.08% | −0.03 |
| INSW International Seaways Inc. | Reduce -1.1% | 0.09% | −0.03 |
Portfolio Buys Q2 2024 → Q3 2024
| FRFHF Fairfax Financial Hldgs Ltd. | New | 6.98% | +6.98 |
| JAAA Janus Henderson Aaa Clo ETF | Add +44.4% | 1.59% | +0.34 |
| SBLK Star Bulk Carriers Corp. | New | 0.32% | +0.32 |
| BN Brookfield Corp. | Add +6.3% | 1.81% | +0.30 |
| CVE Cenovus Energy Inc. | Add +147.9% | 0.41% | +0.19 |
| NE Noble Corp. PLC | Add +121.0% | 0.25% | +0.09 |
| CABO Cable One Inc. | Add +36.4% | 0.33% | +0.05 |
| LMB Limbach Holdings Inc. | New | 0.05% | +0.05 |
| JOF Japan Smaller Capitalization | New | 0.05% | +0.05 |
| WSC Willscot Holdings Corp. | New | 0.05% | +0.05 |
| LBRDK Liberty Broadband-C | New | 0.04% | +0.04 |
| SLM SLM Corp. | New | 0.04% | +0.04 |
| LLY Eli Lilly & Co. | New | 0.04% | +0.04 |
| PNC PNC Financial Services Group | New | 0.04% | +0.04 |
| TRGP Targa Resources Corp. | New | 0.04% | +0.04 |
| VGK Vanguard Ftse Europe ETF | New | 0.04% | +0.04 |
| EWJV iShares MSCI Japan Value ETF | Add +44.5% | 0.14% | +0.03 |
| BUR Burford Capital Ltd. | Add +25.1% | 0.30% | +0.03 |
| DFIV Dimensional International Va | Add +9.7% | 1.31% | +0.03 |
| HAL Halliburton Co. | Add +51.3% | 0.20% | +0.03 |
| KF Korea Fund Inc. | Add +36.6% | 0.20% | +0.02 |
| CVS CVS Health Corp. | Add +10.9% | 0.23% | +0.01 |
| PXE Invesco Energy Exploration | Add +33.5% | 0.15% | +0.01 |
| APD Air Products & Chemicals Inc. | Add +0.3% | 0.21% | +0.00 |
| GEOS Geospace Technologies Corp. | Add +2.0% | 0.05% | +0.00 |
| AVGO Broadcom Inc. | Add +3.0% | 0.11% | −0.00 |
| WBD Warner Bros Discovery Inc. | Add +1.5% | 0.37% | −0.00 |
| CTVA Corteva Inc. | Add +0.0% | 0.13% | −0.01 |
| AVEM Avantis Emerging Markets Eq | Add +5.0% | 0.42% | −0.01 |
| DOW Dow Inc. | Add +0.0% | 0.12% | −0.01 |
| EQT Eqt Corp. | Add +0.1% | 0.10% | −0.01 |
| NTR Nutrien Ltd. | Add +11.9% | 0.20% | −0.02 |
| JOE The St Joe Co. | Add +1.7% | 0.35% | −0.02 |
| OEC Orion SA | Add +1.5% | 0.06% | −0.02 |
| CRC California Resources Corp. | Add +0.6% | 0.21% | −0.03 |
| DVN Devon Energy Corp. | Add +17.4% | 0.22% | −0.04 |
| VTS Vitesse Energy Inc. | Add +4.1% | 0.63% | −0.05 |
| OIH Vaneck Oil Services ETF | Add +8.2% | 0.34% | −0.06 |
| DEC Diversified Energy Co. PLC | Add +8.4% | 0.24% | −0.06 |
| AVDV Avantis Intl S/C Value ETF | Add +0.1% | 1.47% | −0.06 |
| SLB SLB Ltd. | Add +14.7% | 0.64% | −0.07 |
| CLF Cleveland-Cliffs Inc. | Add +4.5% | 0.35% | −0.11 |
| AVUV Avantis US Small Cap Value | Add +1.6% | 2.78% | −0.13 |
| AR Antero Resources Corp. | Add +8.1% | 0.73% | −0.14 |
| CNQ Canadian Natural Resources | Add +4.2% | 1.05% | −0.18 |
| WRB WR Berkley Corp. | Add +1.0% | 6.68% | −0.26 |
| OXY Occidental Petroleum Corp. | Add +6.2% | 0.92% | −0.28 |
| CACC Credit Acceptance Corp. | Add +1.1% | 1.08% | −0.33 |
| MKL Markel Group Inc. | Add +0.2% | 5.24% | −0.73 |
| WTM White Mountains Insurance GP | Add +0.8% | 6.50% | −1.36 |
Notes & Other Activity Q2 2024 → Q3 2024
| OXY.WS Occidental Petroleum-CW27 | *W EXP 08/03/202 | Sold out | 6,531 | $269Kbefore exit |
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 |