Mraz, Amerine & Associates, Inc.
In its 13F for Q4 2024 (holdings as of December 31, 2024, filed July 24, 2025), Mraz, Amerine & Associates, Inc. reported 166 stock positions worth $561.3 million. Its top holding was Berkshire Hathaway Class B (BRK.B) at 13.4% of the portfolio, followed by Jefferies Financial (JEF, 7.5%) and Fairfax Financial (FRFHF, 7.5%). Compared with Q3 2024, it opened 10 new positions, sold out of 11, added to 43 and reduced 75. The biggest buy was Markel (MKL, shares +1%) and the biggest sale Enstar (ESGR, shares −28%).
- Most Recent 13F
- Q2 2026
- Location
- Modesto, CA
- CIK
- 0001542324
- Portfolio Value
- $561.3M (Q4 2024)
- SEC Filing
- 0001214659-25-010858 ↗ filed Jul 24, 2025
Holdings Value
Holdings 166 stocks · $561.3M
| BRK.B Berkshire Hathaway Inc. Class B | 13.42% | 166,238 | $75.4M | Reduce -1.4% |
| JEF Jefferies Financial Group Inc. | 7.52% | 538,699 | $42.2M | Reduce -1.4% |
| FRFHF Fairfax Financial Hldgs Ltd. | 7.46% | 30,076 | $41.8M | Reduce -1.6% |
| WTM White Mountains Insurance GP | 7.30% | 21,069 | $41.0M | Reduce -0.6% |
| WRB WR Berkley Corp. filed as BERKLEY W R CORP | 6.68% | 640,573 | $37.5M | Reduce -1.6% |
| MKL Markel Group Inc. | 5.74% | 18,660 | $32.2M | Add +0.9% |
| ESGR Enstar Group Ltd. | 4.24% | 73,840 | $23.8M | Reduce -27.8% |
| L Loews Corp. | 3.85% | 254,879 | $21.6M | Add +1.1% |
| AVUV Avantis US Small Cap Value | 2.83% | 164,503 | $15.9M | Add +2.5% |
| JAAA Janus Henderson Aaa Clo ETF | 2.08% | 230,346 | $11.7M | Add +33.1% |
| BN Brookfield Corp. | 1.98% | 193,527 | $11.1M | Add +2.9% |
| MSFT Microsoft Corp. | 1.41% | 18,795 | $7.9M | Reduce -0.7% |
| DFIV Dimensional International Va | 1.41% | 222,643 | $7.9M | Add +16.8% |
| AVDV Avantis Intl S/C Value ETF | 1.40% | 120,488 | $7.8M | Add +5.1% |
| CACC Credit Acceptance Corp. | 1.11% | 13,213 | $6.2M | Reduce -1.5% |
| CNQ Canadian Natural Resources | 1.00% | 181,893 | $5.6M | Add +3.8% |
| UHAL.B U-Haul Holding Co.-Non Voting | 1.00% | 87,387 | $5.6M | Reduce -0.5% |
| OXY Occidental Petroleum Corp. | 0.94% | 106,307 | $5.3M | Add +7.9% |
| AR Antero Resources Corp. | 0.90% | 144,391 | $5.1M | Add +2.7% |
| BRK.A Berkshire Hathaway Inc. Class A | 0.85% | 7 | $4.8M | No change |
| LEN.B Lennar Corp. Class B | 0.69% | 29,244 | $3.9M | Reduce -3.2% |
| SLB SLB Ltd. filed as SCHLUMBERGER LTD | 0.65% | 95,391 | $3.7M | Add +13.3% |
| NVR NVR Inc. | 0.65% | 444 | $3.6M | Reduce -1.8% |
| RMT Royce Micro-Cap Trust Inc. | 0.64% | 370,435 | $3.6M | Reduce -6.1% |
| VTS Vitesse Energy Inc. | 0.63% | 142,206 | $3.6M | Reduce -1.6% |
| JNJ Johnson & Johnson | 0.62% | 24,118 | $3.5M | Add +38.9% |
| GHC Graham Holdings Co. Class B | 0.60% | 3,844 | $3.4M | Reduce -2.8% |
| TPL Texas Pacific Land Corp. | 0.57% | 2,873 | $3.2M | Reduce -0.7% |
| AAPL Apple Inc. | 0.51% | 11,423 | $2.9M | Reduce -2.7% |
| CVE Cenovus Energy Inc. | 0.50% | 185,308 | $2.8M | Add +37.1% |
| CTRA Coterra Energy Inc. | 0.49% | 107,928 | $2.8M | Reduce -8.9% |
| WBD Warner Bros Discovery Inc. | 0.45% | 237,743 | $2.5M | Reduce -3.1% |
| AVEM Avantis Emerging Markets Eq | 0.44% | 41,771 | $2.5M | Add +15.1% |
| FCNCA First Citizens Bcshs Class A | 0.43% | 1,145 | $2.4M | Reduce -3.0% |
| BR Broadridge Financial Solutio | 0.41% | 10,245 | $2.3M | No change |
| CRGY Crescent Energy Inc. Class A | 0.41% | 158,148 | $2.3M | Reduce -1.1% |
| SCHW Schwab (charles) Corp. | 0.41% | 31,122 | $2.3M | Reduce -1.7% |
| AMGN Amgen Inc. | 0.41% | 8,742 | $2.3M | Add +24.5% |
| FCX Freeport-McMoran Inc. | 0.40% | 59,676 | $2.3M | Add +4.6% |
| DFLV Dim US Large Cap Value ETF | 0.40% | 74,538 | $2.2M | Reduce -2.5% |
| TDW Tidewater Inc. | 0.38% | 39,256 | $2.1M | Add +4.0% |
| OIH Vaneck Oil Services ETF | 0.37% | 7,557 | $2.0M | Add +13.4% |
| CABO Cable One Inc. | 0.36% | 5,619 | $2.0M | Add +8.1% |
| DEC Diversified Energy Co. PLC | 0.34% | 113,495 | $1.9M | Reduce -3.3% |
| CUBI Customers Bancorp Inc. | 0.33% | 38,402 | $1.9M | Reduce -5.8% |
| AMR Alpha Metallurgical Resource | 0.33% | 9,315 | $1.9M | Add +7.0% |
| DISV Dimensional International SM | 0.33% | 68,856 | $1.8M | No change |
| JOE The St Joe Co. | 0.32% | 40,500 | $1.8M | Add +20.7% |
| BSM Black Stone Minerals LP | 0.32% | 123,405 | $1.8M | Reduce -1.5% |
| BUR Burford Capital Ltd. | 0.32% | 139,527 | $1.8M | Add +12.8% |
| VYM Vanguard High DVD Yield ETF | 0.31% | 13,564 | $1.7M | Reduce -21.6% |
| COP Conocophillips | 0.30% | 16,793 | $1.7M | Add +12.3% |
| LUMN Lumen Technologies Inc. | 0.30% | 313,484 | $1.7M | Reduce -1.7% |
| NE Noble Corp. PLC | 0.29% | 51,495 | $1.6M | Add +36.4% |
| SBR Sabine Royalty Trust | 0.29% | 24,708 | $1.6M | Reduce -3.7% |
| CLF Cleveland-Cliffs Inc. | 0.28% | 165,726 | $1.6M | Add +9.6% |
| VAL Valaris Ltd. | 0.27% | 34,826 | $1.5M | Reduce -16.0% |
| BNY Bank of New York Mellon Corp. filed as BANK NEW YORK MELLON CORP | 0.27% | 19,705 | $1.5M | Reduce -2.5% |
| DMLP Dorchester Minerals LP | 0.27% | 44,969 | $1.5M | Reduce -5.2% |
| VTV Vanguard Mrngstr Val ETF-Aui | 0.26% | 8,614 | $1.5M | Reduce -15.3% |
| NMM Navios Maritime Partners LP | 0.25% | 32,694 | $1.4M | Add +9.4% |
| EMR Emerson Electric Co. | 0.25% | 11,193 | $1.4M | Reduce -6.3% |
| AXP American Express Co. | 0.23% | 4,384 | $1.3M | Reduce -10.2% |
| ABEV Ambev SA-ADR | 0.23% | 693,029 | $1.3M | Reduce -2.8% |
| DFAI Dimensional International Co. | 0.23% | 43,432 | $1.3M | Reduce -7.9% |
| SBLK Star Bulk Carriers Corp. | 0.22% | 84,221 | $1.3M | Add +12.2% |
| DVN Devon Energy Corp. | 0.22% | 37,195 | $1.2M | Add +20.0% |
| HAL Halliburton Co. | 0.21% | 44,042 | $1.2M | Add +13.6% |
| CRC California Resources Corp. | 0.21% | 22,473 | $1.2M | Reduce -0.0% |
| GAM General American Investors | 0.21% | 22,650 | $1.2M | Reduce -3.3% |
| KF Korea Fund Inc. | 0.20% | 62,111 | $1.1M | Add +26.2% |
| DIHP Dimensional International Hi | 0.20% | 44,686 | $1.1M | Reduce -2.3% |
| APD Air Products & Chemicals Inc. | 0.20% | 3,863 | $1.1M | Add +0.3% |
| CVX Chevron Corp. | 0.20% | 7,684 | $1.1M | Reduce -9.5% |
| PXE Invesco Energy Exploration | 0.20% | 37,542 | $1.1M | Add +33.0% |
| AGO Assured Guaranty Ltd. | 0.19% | 11,888 | $1.1M | Reduce -0.1% |
| NTR Nutrien Ltd. | 0.19% | 23,490 | $1.1M | Add +2.4% |
| IAU iShares Gold Trust | 0.18% | 20,962 | $1.0M | Add +2.9% |
| VTIP Vanguard Short-Term Tips | 0.18% | 21,252 | $1.0M | Reduce -30.9% |
| VIGI Vanguard Int Div App Indx FD | 0.18% | 12,443 | $995K | Reduce -8.7% |
| CSWC Capital Southwest Corp. | 0.17% | 43,521 | $950K | Reduce -3.8% |
| DD Dupont DE Nemours Inc. | 0.16% | 12,084 | $921K | Add +0.0% |
| RVT Royce Small-Cap Trust Inc. | 0.16% | 57,029 | $901K | Reduce -0.5% |
| COST Costco Wholesale Corp. | 0.16% | 961 | $881K | No change |
| EWJV iShares MSCI Japan Value ETF | 0.15% | 27,339 | $855K | Add +13.7% |
| PSLV Sprott Physical Silver Trust | 0.15% | 84,725 | $818K | No change |
| VTOL Bristow Group Inc. | 0.15% | 23,819 | $817K | Reduce -1.4% |
| SU Suncor Energy Inc. | 0.14% | 22,755 | $812K | Reduce -3.5% |
| AVES Avantis Emerging Markets Val | 0.14% | 17,525 | $810K | Reduce -2.5% |
| AVGO Broadcom Inc. | 0.14% | 3,400 | $788K | No change |
| JOF Japan Smaller Capitalization | 0.14% | 101,821 | $781K | Add +225.3% |
| FWONK Liberty Media Corp. Class C | 0.13% | 7,968 | $738K | Reduce -7.6% |
| DFAC Dimensional US Core Equity 2 | 0.13% | 21,196 | $733K | Reduce -4.0% |
| SJT San Juan Basin Royalty TR | 0.13% | 189,246 | $725K | Reduce -2.0% |
| CTVA Corteva Inc. | 0.13% | 12,455 | $709K | Add +0.0% |
| WMB Williams Cos Inc. | 0.13% | 13,056 | $707K | No change |
| EQT Eqt Corp. | 0.12% | 15,106 | $697K | Add +0.0% |
| VONV Vanguard Russell 1000 Value | 0.12% | 8,376 | $681K | Reduce -0.4% |
| OFG Ofg Bancorp | 0.12% | 15,890 | $672K | Reduce -3.1% |
| ABT Abbott Laboratories | 0.11% | 5,523 | $625K | Reduce -7.8% |
Portfolio Sells Q3 2024 → Q4 2024
| ESGR Enstar Group Ltd. | Reduce -27.8% | 4.24% | −1.71 |
| BRK.B Berkshire Hathaway Inc. Class B | Reduce -1.4% | 13.42% | −0.60 |
| EQC Equity Commonwealth | Reduce -69.8% | 0.01% | −0.32 |
| LEN.B Lennar Corp. Class B | Reduce -3.2% | 0.69% | −0.26 |
| CVS CVS Health Corp. | Sold out | 0.00% | −0.23 |
| NVR NVR Inc. | Reduce -1.8% | 0.65% | −0.16 |
| UHAL.B U-Haul Holding Co.-Non Voting | Reduce -0.5% | 1.00% | −0.15 |
| VAL Valaris Ltd. | Reduce -16.0% | 0.27% | −0.14 |
| LUMN Lumen Technologies Inc. | Reduce -1.7% | 0.30% | −0.11 |
| VYM Vanguard High DVD Yield ETF | Reduce -21.6% | 0.31% | −0.09 |
| VTIP Vanguard Short-Term Tips | Reduce -30.9% | 0.18% | −0.09 |
| ABEV Ambev SA-ADR | Reduce -2.8% | 0.23% | −0.09 |
| MSFT Microsoft Corp. | Reduce -0.7% | 1.41% | −0.06 |
| VTV Vanguard Mrngstr Val ETF-Aui | Reduce -15.3% | 0.26% | −0.06 |
| XOM Exxon Mobil Corp. | Sold out | 0.00% | −0.05 |
| AMAT Applied Materials Inc. | Reduce -22.4% | 0.08% | −0.05 |
| SYLD Cambria Shareholder Yield Et | Sold out | 0.00% | −0.05 |
| DFAI Dimensional International Co. | Reduce -7.9% | 0.23% | −0.04 |
| MRK Merck & Co. Inc. | Sold out | 0.00% | −0.04 |
| RMT Royce Micro-Cap Trust Inc. | Reduce -6.1% | 0.64% | −0.04 |
| HP Helmerich & Payne | Sold out | 0.00% | −0.04 |
| LBTYK Liberty Global Ltd. Class C | Sold out | 0.00% | −0.04 |
| VIGI Vanguard Int Div App Indx FD | Reduce -8.7% | 0.18% | −0.04 |
| MRO Marathon Oil Corp. | Sold out | 0.00% | −0.04 |
| CSWC Capital Southwest Corp. | Reduce -3.8% | 0.17% | −0.04 |
| VGK Vanguard Ftse Europe ETF | Sold out | 0.00% | −0.04 |
| MAC The Macerich Co. | Sold out | 0.00% | −0.03 |
| DIHP Dimensional International Hi | Reduce -2.3% | 0.20% | −0.03 |
| CVX Chevron Corp. | Reduce -9.5% | 0.20% | −0.03 |
| DFLV Dim US Large Cap Value ETF | Reduce -2.5% | 0.40% | −0.03 |
| SWN Southwestern Energy Co. | Sold out | 0.00% | −0.03 |
| AVES Avantis Emerging Markets Val | Reduce -2.5% | 0.14% | −0.03 |
| CTRA Coterra Energy Inc. | Reduce -8.9% | 0.49% | −0.02 |
| GAM General American Investors | Reduce -3.3% | 0.21% | −0.02 |
| BSM Black Stone Minerals LP | Reduce -1.5% | 0.32% | −0.02 |
| CNA Cna Financial Corp. | Reduce -16.4% | 0.08% | −0.02 |
| CRT Cross Timbers Royalty Trust | Reduce -11.8% | 0.07% | −0.02 |
| ZTS Zoetis Inc. | Reduce -6.5% | 0.05% | −0.01 |
| BPMC Blueprint Medicines Corp. | Reduce -7.5% | 0.08% | −0.01 |
| OFG Ofg Bancorp | Reduce -3.1% | 0.12% | −0.01 |
| SU Suncor Energy Inc. | Reduce -3.5% | 0.14% | −0.01 |
| ABT Abbott Laboratories | Reduce -7.8% | 0.11% | −0.01 |
| QURE Uniqure NV | Sold out | 0.00% | −0.01 |
| WY Weyerhaeuser Co. | Reduce -3.5% | 0.04% | −0.01 |
| XSORX Source Capital Inc. | Reduce -12.9% | 0.05% | −0.01 |
| OEC Orion SA | Reduce -5.6% | 0.05% | −0.01 |
| CMCSA Comcast Corp. Class A | Reduce -5.3% | 0.05% | −0.01 |
| CTO Cto Realty Growth Inc. | Reduce -13.6% | 0.07% | −0.01 |
| UHAL U-Haul Holding Co. | Reduce -3.5% | 0.05% | −0.01 |
| CUBI Customers Bancorp Inc. | Reduce -5.8% | 0.33% | −0.01 |
Portfolio Buys Q3 2024 → Q4 2024
| MKL Markel Group Inc. | Add +0.9% | 5.74% | +0.49 |
| JAAA Janus Henderson Aaa Clo ETF | Add +33.1% | 2.08% | +0.49 |
| L Loews Corp. | Add +1.1% | 3.85% | +0.24 |
| AR Antero Resources Corp. | Add +2.7% | 0.90% | +0.17 |
| BN Brookfield Corp. | Add +2.9% | 1.98% | +0.17 |
| JNJ Johnson & Johnson | Add +38.9% | 0.62% | +0.11 |
| DFIV Dimensional International Va | Add +16.8% | 1.41% | +0.09 |
| JOF Japan Smaller Capitalization | Add +225.3% | 0.14% | +0.09 |
| CVE Cenovus Energy Inc. | Add +37.1% | 0.50% | +0.09 |
| TSLA Tesla Inc. | New | 0.07% | +0.07 |
| WSC Willscot Holdings Corp. | Add +144.6% | 0.10% | +0.05 |
| PXE Invesco Energy Exploration | Add +33.0% | 0.20% | +0.05 |
| AVUV Avantis US Small Cap Value | Add +2.5% | 2.83% | +0.05 |
| JPM JPMorgan Chase & Co. | New | 0.04% | +0.04 |
| NE Noble Corp. PLC | Add +36.4% | 0.29% | +0.04 |
| RRC Range Resources Corp. | New | 0.04% | +0.04 |
| ETR Entergy Corp. | New | 0.04% | +0.04 |
| NVDA Nvidia Corp. | New | 0.04% | +0.04 |
| BAC Bank of America Corp. | New | 0.04% | +0.04 |
| CABO Cable One Inc. | Add +8.1% | 0.36% | +0.03 |
| EQT Eqt Corp. | Add +0.0% | 0.12% | +0.02 |
| OIH Vaneck Oil Services ETF | Add +13.4% | 0.37% | +0.02 |
| BUR Burford Capital Ltd. | Add +12.8% | 0.32% | +0.02 |
| OXY Occidental Petroleum Corp. | Add +7.9% | 0.94% | +0.02 |
| AVEM Avantis Emerging Markets Eq | Add +15.1% | 0.44% | +0.01 |
| TWI Titan International Inc. | New | 0.01% | +0.01 |
| SLB SLB Ltd. | Add +13.3% | 0.65% | +0.01 |
| COP Conocophillips | Add +12.3% | 0.30% | +0.01 |
| DSX Diana Shipping Inc. | New | 0.01% | +0.01 |
| HAL Halliburton Co. | Add +13.6% | 0.21% | +0.01 |
| EWJV iShares MSCI Japan Value ETF | Add +13.7% | 0.15% | +0.01 |
| HOUS Anywhere Real Estate Inc. | New | 0.01% | +0.01 |
| REI Ring Energy Inc. | New | 0.00% | +0.00 |
| VTRS Viatris Inc. | Add +1.7% | 0.03% | +0.00 |
| IAU iShares Gold Trust | Add +2.9% | 0.18% | +0.00 |
| KF Korea Fund Inc. | Add +26.2% | 0.20% | +0.00 |
| DVN Devon Energy Corp. | Add +20.0% | 0.22% | −0.00 |
| AMGN Amgen Inc. | Add +24.5% | 0.41% | −0.00 |
| QCOM Qualcomm Inc. | Add +4.5% | 0.07% | −0.01 |
| CTVA Corteva Inc. | Add +0.0% | 0.13% | −0.01 |
| APD Air Products & Chemicals Inc. | Add +0.3% | 0.20% | −0.01 |
| NTR Nutrien Ltd. | Add +2.4% | 0.19% | −0.01 |
| JOE The St Joe Co. | Add +20.7% | 0.32% | −0.03 |
| DD Dupont DE Nemours Inc. | Add +0.0% | 0.16% | −0.03 |
| DOW Dow Inc. | Add +0.0% | 0.09% | −0.03 |
| AMR Alpha Metallurgical Resource | Add +7.0% | 0.33% | −0.04 |
| CNQ Canadian Natural Resources | Add +3.8% | 1.00% | −0.05 |
| AVDV Avantis Intl S/C Value ETF | Add +5.1% | 1.40% | −0.07 |
| CLF Cleveland-Cliffs Inc. | Add +9.6% | 0.28% | −0.07 |
| NMM Navios Maritime Partners LP | Add +9.4% | 0.25% | −0.09 |
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 |