Mraz, Amerine & Associates, Inc.
In its 13F for Q2 2025 (holdings as of June 30, 2025, filed July 23, 2025), Mraz, Amerine & Associates, Inc. reported 191 stock positions worth $623.5 million. Its top holding was Berkshire Hathaway Class B (BRK.B) at 12.8% of the portfolio, followed by Fairfax Financial (FRFHF, 8.6%) and WR Berkley (WRB, 7.5%). Compared with Q1 2025, it opened 28 new positions, sold out of 7, added to 69 and reduced 64. The biggest buy was Wisdomtree Floating Rate Tre (USFR, shares +56%) and the biggest sale Berkshire Hathaway Class B (BRK.B, shares −0%).
- Most Recent 13F
- Q2 2026
- Location
- Modesto, CA
- CIK
- 0001542324
- Portfolio Value
- $623.5M (Q2 2025)
- SEC Filing
- 0001214659-25-010775 ↗ filed Jul 23, 2025
Holdings Value
Holdings 191 stocks · $623.5M
| BRK.B Berkshire Hathaway Inc. Class B | 12.80% | 164,331 | $79.8M | Reduce -0.2% |
| FRFHF Fairfax Financial Hldgs Ltd. | 8.61% | 29,695 | $53.6M | Reduce -0.2% |
| WRB WR Berkley Corp. filed as BERKLEY W R CORP | 7.45% | 632,212 | $46.4M | Reduce -0.2% |
| WTM White Mountains Insurance GP | 6.21% | 21,576 | $38.7M | Add +2.6% |
| MKL Markel Group Inc. | 6.05% | 18,885 | $37.7M | Add +1.1% |
| JEF Jefferies Financial Group Inc. | 5.01% | 571,327 | $31.2M | Add +5.3% |
| L Loews Corp. | 3.81% | 258,873 | $23.7M | Add +2.0% |
| JAAA Janus Henderson Aaa Clo ETF | 2.93% | 359,776 | $18.3M | Add +19.4% |
| ESGR Enstar Group Ltd. | 2.83% | 52,364 | $17.6M | Reduce -25.2% |
| AVUV Avantis US Small Cap Value | 2.38% | 162,651 | $14.8M | Add +0.4% |
| BN Brookfield Corp. | 2.28% | 229,848 | $14.2M | Add +5.3% |
| DFIV Dimensional International Va | 1.62% | 236,075 | $10.1M | Add +4.7% |
| AVDV Avantis Intl S/C Value ETF | 1.57% | 123,431 | $9.8M | Add +3.5% |
| USFR Wisdomtree Floating Rate Tre | 1.52% | 187,937 | $9.5M | Add +55.9% |
| MSFT Microsoft Corp. | 1.49% | 18,717 | $9.3M | Reduce -2.1% |
| CACC Credit Acceptance Corp. | 1.09% | 13,325 | $6.8M | Add +2.0% |
| CNQ Canadian Natural Resources | 1.06% | 209,652 | $6.6M | Add +14.0% |
| AR Antero Resources Corp. | 0.93% | 144,655 | $5.8M | Reduce -0.8% |
| UHAL.B U-Haul Holding Co.-Non Voting | 0.85% | 97,273 | $5.3M | Add +9.1% |
| OXY Occidental Petroleum Corp. | 0.85% | 125,774 | $5.3M | Add +11.5% |
| BRK.A Berkshire Hathaway Inc. Class A | 0.82% | 7 | $5.1M | No change |
| CVE Cenovus Energy Inc. | 0.72% | 331,398 | $4.5M | Add +24.5% |
| JNJ Johnson & Johnson | 0.70% | 28,451 | $4.3M | Add +17.4% |
| SLB SLB Ltd. filed as SCHLUMBERGER LTD | 0.59% | 109,719 | $3.7M | Add +15.0% |
| AVEM Avantis Emerging Markets Eq | 0.59% | 53,437 | $3.7M | Add +18.2% |
| NVR NVR Inc. | 0.59% | 494 | $3.6M | Add +10.5% |
| GHC Graham Holdings Co. Class B | 0.56% | 3,722 | $3.5M | Reduce -1.0% |
| RMT Royce Micro-Cap Trust Inc. | 0.54% | 363,426 | $3.4M | Reduce -1.5% |
| TPL Texas Pacific Land Corp. | 0.52% | 3,096 | $3.3M | Add +8.0% |
| VTS Vitesse Energy Inc. | 0.52% | 146,253 | $3.2M | Add +3.1% |
| LEN.B Lennar Corp. Class B | 0.52% | 30,692 | $3.2M | Add +4.5% |
| AAPL Apple Inc. | 0.52% | 15,652 | $3.2M | Add +36.3% |
| SCHW Schwab (charles) Corp. | 0.46% | 31,122 | $2.8M | Reduce -0.2% |
| BUR Burford Capital Ltd. | 0.45% | 197,301 | $2.8M | Add +38.1% |
| WBD Warner Bros Discovery Inc. | 0.44% | 238,986 | $2.7M | Add +0.5% |
| CTRA Coterra Energy Inc. | 0.43% | 106,182 | $2.7M | Reduce -1.2% |
| AMGN Amgen Inc. | 0.41% | 9,048 | $2.5M | Add +2.8% |
| FCX Freeport-McMoran Inc. | 0.40% | 57,560 | $2.5M | Reduce -7.7% |
| BR Broadridge Financial Solutio | 0.39% | 10,024 | $2.4M | Reduce -2.0% |
| JOE The St Joe Co. | 0.39% | 51,003 | $2.4M | Add +16.4% |
| DISV Dimensional International SM | 0.36% | 68,552 | $2.3M | Reduce -0.4% |
| CUBI Customers Bancorp Inc. | 0.36% | 38,207 | $2.2M | No change |
| EMR Emerson Electric Co. | 0.36% | 16,743 | $2.2M | Add +51.7% |
| TDW Tidewater Inc. | 0.35% | 47,866 | $2.2M | Add +10.5% |
| FCNCA First Citizens Bcshs Class A | 0.35% | 1,128 | $2.2M | Reduce -0.9% |
| DEC Diversified Energy Co. PLC | 0.34% | 144,161 | $2.1M | Add +8.9% |
| OIH Vaneck Oil Services ETF | 0.32% | 8,605 | $2.0M | Add +13.0% |
| DFLV Dim US Large Cap Value ETF | 0.32% | 63,699 | $2.0M | Reduce -12.5% |
| BNY Bank of New York Mellon Corp. filed as BANK NEW YORK MELLON CORP | 0.30% | 20,370 | $1.9M | Add +5.2% |
| KF Korea Fund Inc. | 0.29% | 68,188 | $1.8M | Add +4.6% |
| SBLK Star Bulk Carriers Corp. | 0.28% | 101,775 | $1.8M | Reduce -9.3% |
| ABEV Ambev SA-ADR | 0.28% | 724,436 | $1.7M | Add +5.3% |
| BSM Black Stone Minerals LP | 0.28% | 132,598 | $1.7M | Add +7.6% |
| CRGY Crescent Energy Inc. Class A | 0.28% | 201,424 | $1.7M | Add +21.4% |
| AMR Alpha Metallurgical Resource | 0.27% | 14,877 | $1.7M | Add +21.7% |
| HAL Halliburton Co. | 0.26% | 80,770 | $1.6M | Add +42.3% |
| SBR Sabine Royalty Trust | 0.26% | 24,525 | $1.6M | Reduce -1.0% |
| CSL Carlisle Cos Inc. | 0.26% | 4,315 | $1.6M | New |
| VYM Vanguard High DVD Yield ETF | 0.26% | 11,978 | $1.6M | Reduce -5.8% |
| VAL Valaris Ltd. | 0.25% | 37,103 | $1.6M | Add +13.6% |
| NMM Navios Maritime Partners LP | 0.25% | 40,670 | $1.5M | Add +22.7% |
| NE Noble Corp. PLC | 0.24% | 57,478 | $1.5M | Add +8.0% |
| COP Conocophillips | 0.24% | 16,704 | $1.5M | Add +0.2% |
| LUMN Lumen Technologies Inc. | 0.23% | 333,348 | $1.5M | Add +5.9% |
| DFAI Dimensional International Co. | 0.23% | 41,736 | $1.4M | Reduce -1.9% |
| NTR Nutrien Ltd. | 0.23% | 24,429 | $1.4M | Add +6.5% |
| JOF Japan Smaller Capitalization | 0.22% | 145,281 | $1.4M | Add +39.0% |
| PAAA Pgim Aaa Clo ETF | 0.22% | 27,178 | $1.4M | Add +271.0% |
| AXP American Express Co. | 0.22% | 4,355 | $1.4M | Reduce -0.5% |
| DVN Devon Energy Corp. | 0.21% | 42,085 | $1.3M | Add +13.6% |
| CLF Cleveland-Cliffs Inc. | 0.21% | 174,627 | $1.3M | Reduce -1.1% |
| GAM General American Investors | 0.21% | 23,679 | $1.3M | Add +4.4% |
| DIHP Dimensional International Hi | 0.21% | 44,386 | $1.3M | Reduce -0.3% |
| CVX Chevron Corp. | 0.21% | 9,053 | $1.3M | Add +1.0% |
| PXE Invesco Energy Exploration | 0.20% | 44,566 | $1.2M | Add +15.6% |
| DMLP Dorchester Minerals LP | 0.20% | 44,519 | $1.2M | Reduce -1.1% |
| VTV Vanguard Mrngstr Val ETF-Aui | 0.20% | 7,005 | $1.2M | Reduce -9.1% |
| IAU iShares Gold Trust | 0.19% | 18,862 | $1.2M | Reduce -10.0% |
| SJT San Juan Basin Royalty TR | 0.18% | 188,266 | $1.1M | Reduce -0.5% |
| EWJV iShares MSCI Japan Value ETF | 0.18% | 32,274 | $1.1M | Add +16.3% |
| CABO Cable One Inc. | 0.18% | 8,212 | $1.1M | Add +31.3% |
| APD Air Products & Chemicals Inc. | 0.18% | 3,884 | $1.1M | Add +0.3% |
| PSLV Sprott Physical Silver Trust | 0.17% | 84,725 | $1.0M | No change |
| CRC California Resources Corp. | 0.16% | 22,518 | $1.0M | Reduce -0.8% |
| COST Costco Wholesale Corp. | 0.16% | 1,018 | $1.0M | Add +5.8% |
| VIGI Vanguard Int Div App Indx FD | 0.16% | 10,773 | $971K | Reduce -2.6% |
| AGO Assured Guaranty Ltd. | 0.15% | 11,018 | $960K | Reduce -0.0% |
| CSWC Capital Southwest Corp. | 0.15% | 42,958 | $947K | Reduce -1.8% |
| WSC Willscot Holdings Corp. | 0.15% | 34,375 | $942K | Add +86.1% |
| AVGO Broadcom Inc. | 0.15% | 3,400 | $937K | No change |
| AVES Avantis Emerging Markets Val | 0.15% | 17,423 | $933K | Reduce -0.1% |
| CTVA Corteva Inc. | 0.15% | 12,390 | $923K | Reduce -0.5% |
| VTIP Vanguard Short-Term Tips | 0.15% | 18,330 | $921K | Reduce -8.1% |
| EQT Eqt Corp. | 0.14% | 15,257 | $890K | Add +0.0% |
| NVDA Nvidia Corp. | 0.14% | 5,405 | $854K | New |
| SU Suncor Energy Inc. | 0.14% | 22,564 | $845K | Reduce -0.1% |
| WMB Williams Cos Inc. | 0.13% | 13,313 | $836K | Add +6.4% |
| DD Dupont DE Nemours Inc. | 0.13% | 12,018 | $824K | Reduce -0.6% |
| RVT Royce Small-Cap Trust Inc. | 0.13% | 54,025 | $813K | Reduce -4.1% |
| AIG American International Group | 0.13% | 9,217 | $789K | New |
Portfolio Sells Q1 2025 → Q2 2025
| BRK.B Berkshire Hathaway Inc. Class B | Reduce -0.2% | 12.80% | −2.09 |
| ESGR Enstar Group Ltd. | Reduce -25.2% | 2.83% | −1.17 |
| WRB WR Berkley Corp. | Reduce -0.2% | 7.45% | −0.31 |
| CTRA Coterra Energy Inc. | Reduce -1.2% | 0.43% | −0.10 |
| BPMC Blueprint Medicines Corp. | Sold out | 0.00% | −0.08 |
| HNRG Hallador Energy Co. | Sold out | 0.00% | −0.07 |
| DFLV Dim US Large Cap Value ETF | Reduce -12.5% | 0.32% | −0.06 |
| AR Antero Resources Corp. | Reduce -0.8% | 0.93% | −0.06 |
| GHC Graham Holdings Co. Class B | Reduce -1.0% | 0.56% | −0.05 |
| CLF Cleveland-Cliffs Inc. | Reduce -1.1% | 0.21% | −0.05 |
| ETR Entergy Corp. | Sold out | 0.00% | −0.04 |
| WY Weyerhaeuser Co. | Sold out | 0.00% | −0.04 |
| VONV Vanguard Russell 1000 Value | Reduce -34.0% | 0.07% | −0.04 |
| DMLP Dorchester Minerals LP | Reduce -1.1% | 0.20% | −0.03 |
| VTV Vanguard Mrngstr Val ETF-Aui | Reduce -9.1% | 0.20% | −0.03 |
| BR Broadridge Financial Solutio | Reduce -2.0% | 0.39% | −0.03 |
| SBLK Star Bulk Carriers Corp. | Reduce -9.3% | 0.28% | −0.03 |
| VTIP Vanguard Short-Term Tips | Reduce -8.1% | 0.15% | −0.02 |
| VYM Vanguard High DVD Yield ETF | Reduce -5.8% | 0.26% | −0.02 |
| XOM Exxon Mobil Corp. | Reduce -19.0% | 0.05% | −0.02 |
| CNA Cna Financial Corp. | Reduce -14.6% | 0.06% | −0.02 |
| SBR Sabine Royalty Trust | Reduce -1.0% | 0.26% | −0.02 |
| DD Dupont DE Nemours Inc. | Reduce -0.6% | 0.13% | −0.02 |
| QURE Uniqure NV | Sold out | 0.00% | −0.02 |
| IAU iShares Gold Trust | Reduce -10.0% | 0.19% | −0.02 |
| DOW Dow Inc. | Reduce -0.5% | 0.05% | −0.02 |
| CTO Cto Realty Growth Inc. | Reduce -15.7% | 0.05% | −0.02 |
| MRP Millrose Properties | Reduce -28.6% | 0.05% | −0.02 |
| DFAC Dimensional US Core Equity 2 | Reduce -17.8% | 0.09% | −0.02 |
| CSWC Capital Southwest Corp. | Reduce -1.8% | 0.15% | −0.02 |
| TRGP Targa Resources Corp. | Reduce -16.1% | 0.03% | −0.01 |
| SU Suncor Energy Inc. | Reduce -0.1% | 0.14% | −0.01 |
| IVOL Quadratic Int Rte Vol Infl H | Reduce -8.3% | 0.10% | −0.01 |
| FCX Freeport-McMoran Inc. | Reduce -7.7% | 0.40% | −0.01 |
| AGO Assured Guaranty Ltd. | Reduce -0.0% | 0.15% | −0.01 |
| PNC PNC Financial Services Group | Reduce -19.1% | 0.05% | −0.01 |
| MTR Mesa Royalty Trust | Sold out | 0.00% | −0.01 |
| QCOM Qualcomm Inc. | Reduce -11.8% | 0.06% | −0.01 |
| PHX PHX Minerals Inc. | Sold out | 0.00% | −0.01 |
| XSORX Source Capital Inc. | Reduce -18.3% | 0.04% | −0.01 |
| OSG Octave Specialty Group Inc. | Reduce -3.6% | 0.02% | −0.01 |
| RVT Royce Small-Cap Trust Inc. | Reduce -4.1% | 0.13% | −0.01 |
| TSLA Tesla Inc. | Reduce -23.8% | 0.04% | −0.01 |
| CRC California Resources Corp. | Reduce -0.8% | 0.16% | −0.01 |
| ZTS Zoetis Inc. | Reduce -2.0% | 0.04% | −0.01 |
| ABT Abbott Laboratories | Reduce -1.6% | 0.11% | −0.01 |
| CMCSA Comcast Corp. Class A | Reduce -1.5% | 0.04% | −0.00 |
| FCNCA First Citizens Bcshs Class A | Reduce -0.9% | 0.35% | −0.00 |
| VTOL Bristow Group Inc. | Reduce -0.2% | 0.13% | −0.00 |
| VEA Vanguard Ftse Developed ETF | Reduce -11.2% | 0.04% | −0.00 |
Portfolio Buys Q1 2025 → Q2 2025
| USFR Wisdomtree Floating Rate Tre | Add +55.9% | 1.52% | +0.47 |
| BN Brookfield Corp. | Add +5.3% | 2.28% | +0.34 |
| JAAA Janus Henderson Aaa Clo ETF | Add +19.4% | 2.93% | +0.31 |
| CSL Carlisle Cos Inc. | New | 0.26% | +0.26 |
| PAAA Pgim Aaa Clo ETF | Add +271.0% | 0.22% | +0.16 |
| EMR Emerson Electric Co. | Add +51.7% | 0.36% | +0.15 |
| JEF Jefferies Financial Group Inc. | Add +5.3% | 5.01% | +0.14 |
| NVDA Nvidia Corp. | New | 0.14% | +0.14 |
| AIG American International Group | New | 0.13% | +0.13 |
| AVDV Avantis Intl S/C Value ETF | Add +3.5% | 1.57% | +0.12 |
| RPM RPM International Inc. | New | 0.12% | +0.12 |
| BUR Burford Capital Ltd. | Add +38.1% | 0.45% | +0.12 |
| AVEM Avantis Emerging Markets Eq | Add +18.2% | 0.59% | +0.12 |
| WFC Wells Fargo & Co. | New | 0.10% | +0.10 |
| MKL Markel Group Inc. | Add +1.1% | 6.05% | +0.10 |
| CVE Cenovus Energy Inc. | Add +24.5% | 0.72% | +0.09 |
| CNQ Canadian Natural Resources | Add +14.0% | 1.06% | +0.09 |
| AAPL Apple Inc. | Add +36.3% | 0.52% | +0.09 |
| DFIV Dimensional International Va | Add +4.7% | 1.62% | +0.08 |
| HSY The Hershey Co. | New | 0.08% | +0.08 |
| JOF Japan Smaller Capitalization | Add +39.0% | 0.22% | +0.07 |
| ITW Illinois Tool Works | New | 0.07% | +0.07 |
| FITB Fifth Third Bancorp | New | 0.07% | +0.07 |
| TXN Texas Instruments Inc. | New | 0.07% | +0.07 |
| KF Korea Fund Inc. | Add +4.6% | 0.29% | +0.07 |
| MMM 3M Co. | New | 0.06% | +0.06 |
| WSC Willscot Holdings Corp. | Add +86.1% | 0.15% | +0.06 |
| RTX RTX Corp. | New | 0.06% | +0.06 |
| PPG PPG Industries Inc. | New | 0.05% | +0.05 |
| BAC Bank of America Corp. | New | 0.05% | +0.05 |
| GLRE Greenlight Capital Re Ltd. Class A | New | 0.05% | +0.05 |
| EXE Expand Energy Corp. | New | 0.05% | +0.05 |
| CL Colgate-Palmolive Co. | New | 0.05% | +0.05 |
| NSC Norfolk Southern Corp. | New | 0.05% | +0.05 |
| JOE The St Joe Co. | Add +16.4% | 0.39% | +0.04 |
| KMB Kimberly-Clark Corp. | New | 0.04% | +0.04 |
| LAD Lithia Motors Inc. | New | 0.04% | +0.04 |
| SYY Sysco Corp. | New | 0.04% | +0.04 |
| NVR NVR Inc. | Add +10.5% | 0.59% | +0.03 |
| DEC Diversified Energy Co. PLC | Add +8.9% | 0.34% | +0.03 |
| NVS Novartis AG-Sponsored ADR | Add +37.1% | 0.12% | +0.03 |
| PG The Procter & Gamble Co. | New | 0.03% | +0.03 |
| AMTM Amentum Holdings Inc. | New | 0.03% | +0.03 |
| VGK Vanguard Ftse Europe ETF | New | 0.03% | +0.03 |
| NTR Nutrien Ltd. | Add +6.5% | 0.23% | +0.03 |
| TDW Tidewater Inc. | Add +10.5% | 0.35% | +0.03 |
| VAL Valaris Ltd. | Add +13.6% | 0.25% | +0.03 |
| NVGS Navigator Holdings Ltd. | New | 0.03% | +0.03 |
| NMM Navios Maritime Partners LP | Add +22.7% | 0.25% | +0.02 |
| NE Noble Corp. PLC | Add +8.0% | 0.24% | +0.02 |
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 |