Mraz, Amerine & Associates, Inc.
In its 13F for Q1 2025 (holdings as of March 31, 2025, filed July 24, 2025), Mraz, Amerine & Associates, Inc. reported 170 stock positions worth $582.0 million. Its top holding was Berkshire Hathaway Class B (BRK.B) at 14.9% of the portfolio, followed by WR Berkley (WRB, 7.8%) and Fairfax Financial (FRFHF, 7.3%). Compared with Q4 2024, it opened 10 new positions, sold out of 6, added to 64 and reduced 57. The biggest buy was a new position in Wisdomtree Floating Rate Tre (USFR) and the biggest sale White Mountains Insurance GP (WTM, shares −0%).
- Most Recent 13F
- Q2 2026
- Location
- Modesto, CA
- CIK
- 0001542324
- Portfolio Value
- $582.0M (Q1 2025)
- SEC Filing
- 0001214659-25-010859 ↗ filed Jul 24, 2025
Holdings Value
Holdings 170 stocks · $582.0M
| BRK.B Berkshire Hathaway Inc. Class B | 14.89% | 164,634 | $86.6M | Reduce -1.0% |
| WRB WR Berkley Corp. filed as BERKLEY W R CORP | 7.76% | 633,652 | $45.2M | Reduce -1.1% |
| FRFHF Fairfax Financial Hldgs Ltd. | 7.28% | 29,763 | $42.4M | Reduce -1.0% |
| WTM White Mountains Insurance GP | 6.87% | 21,028 | $40.0M | Reduce -0.2% |
| MKL Markel Group Inc. | 5.96% | 18,678 | $34.7M | Add +0.1% |
| JEF Jefferies Financial Group Inc. | 4.87% | 542,398 | $28.3M | Add +0.7% |
| ESGR Enstar Group Ltd. | 4.00% | 69,977 | $23.3M | Reduce -5.2% |
| L Loews Corp. | 3.95% | 253,830 | $23.0M | Reduce -0.4% |
| JAAA Janus Henderson Aaa Clo ETF | 2.62% | 301,219 | $15.3M | Add +30.8% |
| AVUV Avantis US Small Cap Value | 2.43% | 162,035 | $14.1M | Reduce -1.5% |
| BN Brookfield Corp. | 1.94% | 218,284 | $11.3M | Add +12.8% |
| DFIV Dimensional International Va | 1.54% | 225,415 | $8.9M | Add +1.3% |
| AVDV Avantis Intl S/C Value ETF | 1.45% | 119,266 | $8.4M | Reduce -1.0% |
| MSFT Microsoft Corp. | 1.24% | 19,125 | $7.2M | Add +1.8% |
| CACC Credit Acceptance Corp. | 1.15% | 13,057 | $6.7M | Reduce -1.2% |
| USFR Wisdomtree Floating Rate Tre | 1.04% | 120,517 | $6.1M | New |
| AR Antero Resources Corp. | 0.99% | 145,802 | $5.8M | Add +1.0% |
| CNQ Canadian Natural Resources | 0.97% | 183,854 | $5.6M | Add +1.1% |
| BRK.A Berkshire Hathaway Inc. Class A | 0.95% | 7 | $5.5M | No change |
| OXY Occidental Petroleum Corp. | 0.95% | 112,801 | $5.5M | Add +6.1% |
| UHAL.B U-Haul Holding Co.-Non Voting | 0.90% | 89,177 | $5.3M | Add +2.0% |
| SLB SLB Ltd. filed as SCHLUMBERGER LTD | 0.69% | 95,411 | $4.0M | Add +0.0% |
| JNJ Johnson & Johnson | 0.68% | 24,242 | $4.0M | Add +0.5% |
| TPL Texas Pacific Land Corp. | 0.64% | 2,867 | $3.7M | Reduce -0.2% |
| CVE Cenovus Energy Inc. | 0.63% | 266,093 | $3.7M | Add +43.6% |
| GHC Graham Holdings Co. Class B | 0.62% | 3,760 | $3.6M | Reduce -2.2% |
| VTS Vitesse Energy Inc. | 0.60% | 141,885 | $3.5M | Reduce -0.2% |
| NVR NVR Inc. | 0.55% | 447 | $3.2M | Add +0.7% |
| LEN.B Lennar Corp. Class B | 0.55% | 29,355 | $3.2M | Add +0.4% |
| RMT Royce Micro-Cap Trust Inc. | 0.54% | 369,024 | $3.1M | Reduce -0.4% |
| CTRA Coterra Energy Inc. | 0.53% | 107,504 | $3.1M | Reduce -0.4% |
| AVEM Avantis Emerging Markets Eq | 0.47% | 45,208 | $2.7M | Add +8.2% |
| AMGN Amgen Inc. | 0.46% | 8,799 | $2.7M | Add +0.7% |
| AAPL Apple Inc. | 0.43% | 11,483 | $2.5M | Add +0.5% |
| WBD Warner Bros Discovery Inc. | 0.42% | 237,767 | $2.5M | Add +0.0% |
| BR Broadridge Financial Solutio | 0.42% | 10,227 | $2.4M | Reduce -0.2% |
| SCHW Schwab (charles) Corp. | 0.42% | 31,172 | $2.4M | Add +0.2% |
| FCX Freeport-McMoran Inc. | 0.41% | 62,340 | $2.4M | Add +4.5% |
| DFLV Dim US Large Cap Value ETF | 0.38% | 72,827 | $2.2M | Reduce -2.3% |
| FCNCA First Citizens Bcshs Class A | 0.36% | 1,138 | $2.1M | Reduce -0.6% |
| DISV Dimensional International SM | 0.35% | 68,856 | $2.0M | No change |
| JOE The St Joe Co. | 0.35% | 43,815 | $2.0M | Add +8.2% |
| OIH Vaneck Oil Services ETF | 0.34% | 7,615 | $2.0M | Add +0.8% |
| BUR Burford Capital Ltd. | 0.33% | 142,909 | $1.9M | Add +2.4% |
| CUBI Customers Bancorp Inc. | 0.33% | 38,207 | $1.9M | Reduce -0.5% |
| TDW Tidewater Inc. | 0.32% | 43,313 | $1.9M | Add +10.3% |
| BSM Black Stone Minerals LP | 0.32% | 123,260 | $1.9M | Reduce -0.1% |
| CRGY Crescent Energy Inc. Class A | 0.32% | 165,868 | $1.8M | Add +4.9% |
| SBLK Star Bulk Carriers Corp. | 0.31% | 112,231 | $1.8M | Add +33.3% |
| DEC Diversified Energy Co. PLC | 0.31% | 132,341 | $1.8M | Add +16.6% |
| COP Conocophillips | 0.29% | 16,668 | $1.7M | Reduce -0.7% |
| CABO Cable One Inc. | 0.29% | 6,254 | $1.7M | Add +11.3% |
| SBR Sabine Royalty Trust | 0.28% | 24,775 | $1.6M | Add +0.3% |
| VYM Vanguard High DVD Yield ETF | 0.28% | 12,710 | $1.6M | Reduce -6.3% |
| BNY Bank of New York Mellon Corp. filed as BANK NEW YORK MELLON CORP | 0.28% | 19,370 | $1.6M | Reduce -1.7% |
| ABEV Ambev SA-ADR | 0.27% | 687,671 | $1.6M | Reduce -0.8% |
| AMR Alpha Metallurgical Resource | 0.27% | 12,228 | $1.5M | Add +31.3% |
| CLF Cleveland-Cliffs Inc. | 0.26% | 176,511 | $1.5M | Add +6.5% |
| CVX Chevron Corp. | 0.26% | 8,963 | $1.5M | Add +16.6% |
| HAL Halliburton Co. | 0.24% | 56,755 | $1.4M | Add +28.9% |
| DVN Devon Energy Corp. | 0.23% | 37,054 | $1.4M | Reduce -0.4% |
| DMLP Dorchester Minerals LP | 0.23% | 44,993 | $1.4M | Add +0.1% |
| DFAI Dimensional International Co. | 0.23% | 42,523 | $1.3M | Reduce -2.1% |
| VTV Vanguard Mrngstr Val ETF-Aui | 0.23% | 7,710 | $1.3M | Reduce -10.5% |
| KF Korea Fund Inc. | 0.23% | 65,208 | $1.3M | Add +5.0% |
| VAL Valaris Ltd. | 0.22% | 32,664 | $1.3M | Reduce -6.2% |
| NMM Navios Maritime Partners LP | 0.22% | 33,145 | $1.3M | Add +1.4% |
| NE Noble Corp. PLC | 0.22% | 53,216 | $1.3M | Add +3.3% |
| LUMN Lumen Technologies Inc. | 0.21% | 314,667 | $1.2M | Add +0.4% |
| IAU iShares Gold Trust | 0.21% | 20,962 | $1.2M | No change |
| DIHP Dimensional International Hi | 0.21% | 44,513 | $1.2M | Reduce -0.4% |
| EMR Emerson Electric Co. | 0.21% | 11,037 | $1.2M | Reduce -1.4% |
| AXP American Express Co. | 0.20% | 4,377 | $1.2M | Reduce -0.2% |
| NTR Nutrien Ltd. | 0.20% | 22,928 | $1.1M | Reduce -2.4% |
| GAM General American Investors | 0.20% | 22,679 | $1.1M | Add +0.1% |
| APD Air Products & Chemicals Inc. | 0.19% | 3,873 | $1.1M | Add +0.3% |
| PXE Invesco Energy Exploration | 0.19% | 38,549 | $1.1M | Add +2.7% |
| SJT San Juan Basin Royalty TR | 0.18% | 189,246 | $1.0M | No change |
| CRC California Resources Corp. | 0.17% | 22,697 | $995K | Add +1.0% |
| VTIP Vanguard Short-Term Tips | 0.17% | 19,937 | $994K | Reduce -6.2% |
| PSLV Sprott Physical Silver Trust | 0.17% | 84,725 | $981K | No change |
| CSWC Capital Southwest Corp. | 0.17% | 43,732 | $978K | Add +0.5% |
| AGO Assured Guaranty Ltd. | 0.17% | 11,021 | $961K | Reduce -7.3% |
| EWJV iShares MSCI Japan Value ETF | 0.16% | 27,754 | $933K | Add +1.5% |
| VIGI Vanguard Int Div App Indx FD | 0.16% | 11,063 | $921K | Reduce -11.1% |
| DD Dupont DE Nemours Inc. | 0.15% | 12,084 | $895K | No change |
| COST Costco Wholesale Corp. | 0.15% | 962 | $894K | Add +0.1% |
| JOF Japan Smaller Capitalization | 0.15% | 104,491 | $876K | Add +2.6% |
| SU Suncor Energy Inc. | 0.15% | 22,594 | $866K | Reduce -0.7% |
| AVES Avantis Emerging Markets Val | 0.14% | 17,433 | $826K | Reduce -0.5% |
| EQT Eqt Corp. | 0.14% | 15,252 | $809K | Add +1.0% |
| RVT Royce Small-Cap Trust Inc. | 0.14% | 56,335 | $803K | Reduce -1.2% |
| CTVA Corteva Inc. | 0.13% | 12,456 | $761K | Add +0.0% |
| VTOL Bristow Group Inc. | 0.13% | 23,819 | $758K | No change |
| WMB Williams Cos Inc. | 0.13% | 12,513 | $741K | Reduce -4.2% |
| FWONK Liberty Media Corp. Class C | 0.12% | 7,548 | $671K | Reduce -5.3% |
| ABT Abbott Laboratories | 0.11% | 5,092 | $666K | Reduce -7.8% |
| VONV Vanguard Russell 1000 Value | 0.11% | 7,853 | $642K | Reduce -6.2% |
| OFG Ofg Bancorp | 0.11% | 15,890 | $639K | No change |
| IVOL Quadratic Int Rte Vol Infl H | 0.11% | 33,814 | $632K | Reduce -0.6% |
Portfolio Sells Q4 2024 → Q1 2025
| WTM White Mountains Insurance GP | Reduce -0.2% | 6.87% | −0.43 |
| AVUV Avantis US Small Cap Value | Reduce -1.5% | 2.43% | −0.40 |
| ESGR Enstar Group Ltd. | Reduce -5.2% | 4.00% | −0.24 |
| FRFHF Fairfax Financial Hldgs Ltd. | Reduce -1.0% | 7.28% | −0.18 |
| RMT Royce Micro-Cap Trust Inc. | Reduce -0.4% | 0.54% | −0.11 |
| FCNCA First Citizens Bcshs Class A | Reduce -0.6% | 0.36% | −0.07 |
| VAL Valaris Ltd. | Reduce -6.2% | 0.22% | −0.05 |
| WABC Westamerica Bancorporation | Sold out | 0.00% | −0.04 |
| EMR Emerson Electric Co. | Reduce -1.4% | 0.21% | −0.04 |
| IP International Paper Co. | Sold out | 0.00% | −0.04 |
| NVDA Nvidia Corp. | Sold out | 0.00% | −0.04 |
| BAC Bank of America Corp. | Sold out | 0.00% | −0.04 |
| VTV Vanguard Mrngstr Val ETF-Aui | Reduce -10.5% | 0.23% | −0.03 |
| AXP American Express Co. | Reduce -0.2% | 0.20% | −0.03 |
| VTS Vitesse Energy Inc. | Reduce -0.2% | 0.60% | −0.03 |
| VYM Vanguard High DVD Yield ETF | Reduce -6.3% | 0.28% | −0.03 |
| DFAC Dimensional US Core Equity 2 | Reduce -13.5% | 0.10% | −0.03 |
| AGO Assured Guaranty Ltd. | Reduce -7.3% | 0.17% | −0.03 |
| RVT Royce Small-Cap Trust Inc. | Reduce -1.2% | 0.14% | −0.02 |
| BRFS BRF SA-ADR | Sold out | 0.00% | −0.02 |
| DFLV Dim US Large Cap Value ETF | Reduce -2.3% | 0.38% | −0.02 |
| VIGI Vanguard Int Div App Indx FD | Reduce -11.1% | 0.16% | −0.02 |
| FWONK Liberty Media Corp. Class C | Reduce -5.3% | 0.12% | −0.02 |
| AMAT Applied Materials Inc. | Reduce -5.7% | 0.06% | −0.01 |
| OEC Orion SA | Reduce -10.9% | 0.03% | −0.01 |
| VTIP Vanguard Short-Term Tips | Reduce -6.2% | 0.17% | −0.01 |
| VONV Vanguard Russell 1000 Value | Reduce -6.2% | 0.11% | −0.01 |
| XSORX Source Capital Inc. | Reduce -10.0% | 0.05% | −0.01 |
| VTRS Viatris Inc. | Reduce -1.6% | 0.02% | −0.01 |
| EQC Equity Commonwealth | Sold out | 0.00% | −0.01 |
| CTO Cto Realty Growth Inc. | Reduce -4.8% | 0.06% | −0.01 |
| CMCSA Comcast Corp. Class A | Reduce -4.8% | 0.05% | −0.01 |
| UHAL U-Haul Holding Co. | Reduce -0.3% | 0.05% | −0.01 |
| IDT Idt Corp. Class B | Reduce -12.8% | 0.05% | −0.00 |
| CUBI Customers Bancorp Inc. | Reduce -0.5% | 0.33% | −0.00 |
| COP Conocophillips | Reduce -0.7% | 0.29% | −0.00 |
| AVES Avantis Emerging Markets Val | Reduce -0.5% | 0.14% | −0.00 |
| IEO iShares U.S. Oil & Gas Explo | Reduce -2.1% | 0.10% | −0.00 |
| LBRDK Liberty Broadband-C | Reduce -12.1% | 0.04% | −0.00 |
| VYMI Vanguard Int High DVD YLD Inc. | Reduce -3.6% | 0.05% | +0.00 |
| IVOL Quadratic Int Rte Vol Infl H | Reduce -0.6% | 0.11% | +0.00 |
| TRGP Targa Resources Corp. | Reduce -3.7% | 0.05% | +0.00 |
| WMB Williams Cos Inc. | Reduce -4.2% | 0.13% | +0.00 |
| BSM Black Stone Minerals LP | Reduce -0.1% | 0.32% | +0.00 |
| FTI Technipfmc PLC | Reduce -1.5% | 0.09% | +0.00 |
| ABT Abbott Laboratories | Reduce -7.8% | 0.11% | +0.00 |
| DFAI Dimensional International Co. | Reduce -2.1% | 0.23% | +0.00 |
| SU Suncor Energy Inc. | Reduce -0.7% | 0.15% | +0.00 |
| BR Broadridge Financial Solutio | Reduce -0.2% | 0.42% | +0.00 |
| BNY Bank of New York Mellon Corp. | Reduce -1.7% | 0.28% | +0.01 |
Portfolio Buys Q4 2024 → Q1 2025
| USFR Wisdomtree Floating Rate Tre | New | 1.04% | +1.04 |
| JAAA Janus Henderson Aaa Clo ETF | Add +30.8% | 2.62% | +0.54 |
| MKL Markel Group Inc. | Add +0.1% | 5.96% | +0.22 |
| CVE Cenovus Energy Inc. | Add +43.6% | 0.63% | +0.13 |
| DFIV Dimensional International Va | Add +1.3% | 1.54% | +0.13 |
| AR Antero Resources Corp. | Add +1.0% | 0.99% | +0.09 |
| SBLK Star Bulk Carriers Corp. | Add +33.3% | 0.31% | +0.08 |
| XOM Exxon Mobil Corp. | New | 0.07% | +0.07 |
| MRP Millrose Properties | New | 0.07% | +0.07 |
| PAAA Pgim Aaa Clo ETF | New | 0.06% | +0.06 |
| JNJ Johnson & Johnson | Add +0.5% | 0.68% | +0.06 |
| AMGN Amgen Inc. | Add +0.7% | 0.46% | +0.06 |
| CVX Chevron Corp. | Add +16.6% | 0.26% | +0.06 |
| AEM Agnico Eagle Mines Ltd. | New | 0.04% | +0.04 |
| MRK Merck & Co. Inc. | New | 0.04% | +0.04 |
| CSCO Cisco Systems Inc. | New | 0.04% | +0.04 |
| SLB SLB Ltd. | Add +0.0% | 0.69% | +0.04 |
| AVEM Avantis Emerging Markets Eq | Add +8.2% | 0.47% | +0.03 |
| HAL Halliburton Co. | Add +28.9% | 0.24% | +0.03 |
| JOE The St Joe Co. | Add +8.2% | 0.35% | +0.02 |
| KF Korea Fund Inc. | Add +5.0% | 0.23% | +0.02 |
| QURE Uniqure NV | New | 0.02% | +0.02 |
| PNC PNC Financial Services Group | Add +64.5% | 0.06% | +0.02 |
| GASS Stealthgas Inc. | New | 0.02% | +0.02 |
| EQT Eqt Corp. | Add +1.0% | 0.14% | +0.01 |
| BUR Burford Capital Ltd. | Add +2.4% | 0.33% | +0.01 |
| JOF Japan Smaller Capitalization | Add +2.6% | 0.15% | +0.01 |
| OXY Occidental Petroleum Corp. | Add +6.1% | 0.95% | +0.01 |
| VZ Verizon Communications Inc. | Add +17.4% | 0.05% | +0.01 |
| EWJV iShares MSCI Japan Value ETF | Add +1.5% | 0.16% | +0.01 |
| FCX Freeport-McMoran Inc. | Add +4.5% | 0.41% | +0.01 |
| SCHW Schwab (charles) Corp. | Add +0.2% | 0.42% | +0.01 |
| CTVA Corteva Inc. | Add +0.0% | 0.13% | +0.00 |
| KOS Kosmos Energy Ltd. | New | 0.00% | +0.00 |
| SB Safe Bulkers Inc. | Add +23.6% | 0.01% | +0.00 |
| JPM JPMorgan Chase & Co. | Add +5.7% | 0.05% | +0.00 |
| ENB Enbridge Inc. | Add +0.3% | 0.06% | +0.00 |
| QCOM Qualcomm Inc. | Add +5.1% | 0.07% | +0.00 |
| PHX PHX Minerals Inc. | Add +0.1% | 0.01% | −0.00 |
| BPMC Blueprint Medicines Corp. | Add +0.8% | 0.08% | −0.00 |
| ZTS Zoetis Inc. | Add +1.4% | 0.05% | −0.00 |
| CSWC Capital Southwest Corp. | Add +0.5% | 0.17% | −0.00 |
| VIG Vanguard Dividend Apprec ETF | Add +3.6% | 0.06% | −0.00 |
| GD General Dynamics Corp. | Add +0.1% | 0.09% | −0.00 |
| SBR Sabine Royalty Trust | Add +0.3% | 0.28% | −0.00 |
| COST Costco Wholesale Corp. | Add +0.1% | 0.15% | −0.00 |
| OSG Octave Specialty Group Inc. | Add +31.2% | 0.03% | −0.00 |
| APD Air Products & Chemicals Inc. | Add +0.3% | 0.19% | −0.01 |
| PXE Invesco Energy Exploration | Add +2.7% | 0.19% | −0.01 |
| WSC Willscot Holdings Corp. | Add +11.9% | 0.09% | −0.01 |
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 |