Mraz, Amerine & Associates, Inc.
Long book
$678.2M
Q1 2026
Positions
190
Top-10 weight
57%
concentration
Last quarter
+3.7%
SPY +14.8%
Turnover
13%
of book per quarter
Strategy in plain words
auto-generated from filingsMraz, Amerine & Associates, Inc. is a diversified fundamental manager, specialised in financials (64% of the long book), running a $678.2M US long book across 190 positions.
The portfolio is concentrated: the top 10 names carry 57% of the portfolio. Turnover is modest: positions are typically held for years. Current anchor positions: BERKSHIRE HATHAWAY INC-CL B, FAIRFAX FINANCIAL HLDGS LTD, WHITE MOUNTAINS INSURANCE GP, WR BERKLEY CORP, WISDOMTREE FLOATING RATE TRE.
Over the last 9 quarters its long book ran on average 1.6pp per quarter behind the S&P 500, beating the index in 5 of 9 quarters. We rate its filings as signal-bearing: position changes reflect genuine views.
Implied long-book return vs S&P 500
methodology: positions priced quarterly, no shorts/options Fund long book S&P 500
Q1 2024
-1.1%
Q2 2024
+6.0%
Q3 2024
+3.4%
Q4 2024
+2.7%
Q1 2025
+2.4%
Q2 2025
+4.6%
Q3 2025
+3.8%
Q4 2025
+0.8%
Q1 2026
+3.7%
Sector allocation
Financials 63%
Energy 15%
Industrials 4%
Real estate 4%
Technology 3%
Services media 3%
Healthcare 2%
Materials 2%
Long book by quarter
What does Mraz, Amerine own?
Q1 2026 13F| Company | Sector | Shares | Value | % of book | Change |
|---|---|---|---|---|---|
| BRK/B BERKSHIRE HATHAWAY INC-CL B | Financials | 158.7K | $76.0M | 11.2% | -1.7% |
| FRFHF FAIRFAX FINANCIAL HLDGS LTD | Financials | 29.1K | $49.6M | 7.3% | 0.0% |
| WTM WHITE MOUNTAINS INSURANCE GP | Financials | 22.2K | $48.7M | 7.2% | -2.0% |
| WRB WR BERKLEY CORP | Financials | 630.6K | $41.8M | 6.2% | -0.4% |
| MKL MARKEL GROUP INC | Financials | 19.1K | $36.6M | 5.4% | +1.1% |
| L LOEWS CORP | Financials | 253.7K | $27.1M | 4.0% | -0.3% |
| JEF JEFFERIES FINANCIAL GROUP IN | Financials | 614.3K | $25.4M | 3.7% | +6.1% |
| BN BROOKFIELD CORP | Real estate | 453.3K | $18.3M | 2.7% | +12.9% |
| CNQ CANADIAN NATURAL RESOURCES | Energy | 233.9K | $11.4M | 1.7% | -0.8% |
| CVE CENOVUS ENERGY INC | Energy | 363.3K | $9.6M | 1.4% | 0.0% |
| OXY OCCIDENTAL PETROLEUM CORP | Energy | 132.2K | $8.6M | 1.3% | +0.2% |
| JNJ JOHNSON & JOHNSON | Healthcare | 28.3K | $6.9M | 1.0% | -0.3% |
| MSFT MICROSOFT CORP | Technology | 17.9K | $6.6M | 1.0% | -2.0% |
| AR ANTERO RESOURCES CORP | Energy | 155.2K | $6.6M | 1.0% | +2.9% |
| SLB SLB LTD | Energy | 122.8K | $6.3M | 0.9% | +2.1% |
| CACC CREDIT ACCEPTANCE CORP | Financials | 13.2K | $5.6M | 0.8% | -0.3% |
| AMR ALPHA METALLURGICAL RESOURCE | Materials | 26.5K | $5.4M | 0.8% | +0.1% |
| UHAL/B U-HAUL HOLDING CO-NON VOTING | Services media | 117.2K | $5.2M | 0.8% | +5.4% |
| BRK/A BERKSHIRE HATHAWAY INC-CL A | Financials | 7 | $5.0M | 0.7% | Held |
| TDW TIDEWATER INC | Industrials | 49.5K | $4.1M | 0.6% | -0.9% |
| HAL HALLIBURTON CO | Energy | 105.7K | $4.1M | 0.6% | +3.0% |
| TPL TEXAS PACIFIC LAND CORP | Financials | 8.4K | $4.0M | 0.6% | -0.6% |
| AAPL APPLE INC | Technology | 14.5K | $3.7M | 0.5% | -1.3% |
| CTRA COTERRA ENERGY INC | — | 103.8K | $3.6M | 0.5% | 0.0% |
| GHC GRAHAM HOLDINGS CO-CLASS B | Services media | 3.4K | $3.6M | 0.5% | -3.7% |
| VAL VALARIS LTD | Energy | 37.1K | $3.6M | 0.5% | 0.0% |
| NVR NVR INC | Industrials | 515 | $3.4M | 0.5% | +2.4% |
| NE NOBLE CORP PLC | Energy | 64.4K | $3.2M | 0.5% | +6.7% |
| FCX FREEPORT-MCMORAN INC | Materials | 53.7K | $3.2M | 0.5% | -6.2% |
| JOE ST JOE CO/THE | Real estate | 49.9K | $3.1M | 0.5% | -0.5% |
| DEC DIVERSIFIED ENERGY CO | Energy | 167.4K | $2.9M | 0.4% | +11.8% |
| SCHW SCHWAB (CHARLES) CORP | Financials | 30.9K | $2.9M | 0.4% | Held |
| NMM NAVIOS MARITIME PARTNERS LP | Industrials | 43.0K | $2.9M | 0.4% | -0.5% |
| LEN/B LENNAR CORP - B SHS | Industrials | 34.4K | $2.9M | 0.4% | +5.4% |
| VTS VITESSE ENERGY INC | Energy | 154.6K | $2.8M | 0.4% | +7.1% |
| CRGY CRESCENT ENERGY INC-A | Energy | 201.9K | $2.7M | 0.4% | -7.3% |
| AMGN AMGEN INC | Healthcare | 7.7K | $2.7M | 0.4% | -12.3% |
| CUBI CUSTOMERS BANCORP INC | Financials | 36.6K | $2.5M | 0.4% | -2.2% |
| BNY BANK OF NEW YORK MELLON CORP | Financials | 20.3K | $2.4M | 0.4% | Held |
| SBLK STAR BULK CARRIERS CORP | Industrials | 98.0K | $2.3M | 0.3% | -0.1% |
| LUMN LUMEN TECHNOLOGIES INC | Communications | 321.4K | $2.2M | 0.3% | +1.9% |
| COP CONOCOPHILLIPS | Energy | 16.4K | $2.2M | 0.3% | -0.1% |
| DVN DEVON ENERGY CORP | Energy | 42.6K | $2.1M | 0.3% | -0.3% |
| BUR BURFORD CAPITAL LTD | Financials | 465.3K | $2.1M | 0.3% | +28.0% |
| BSM BLACK STONE MINERALS LP | Energy | 133.7K | $2.0M | 0.3% | Held |
| FCNCA FIRST CITIZENS BCSHS -CL A | Financials | 1.1K | $2.0M | 0.3% | -2.3% |
| WSC WILLSCOT HOLDINGS CORP | Services media | 111.0K | $1.9M | 0.3% | +2.6% |
| AMTM AMENTUM HOLDINGS INC | Services media | 72.0K | $1.9M | 0.3% | +12.1% |
| CVX CHEVRON CORP | Energy | 9.1K | $1.9M | 0.3% | +0.2% |
| EMR EMERSON ELECTRIC CO | Industrials | 14.1K | $1.8M | 0.3% | -10.7% |
13F filing history
| Period | Form | Filed | Entries | Reported value | Flags | Source |
|---|---|---|---|---|---|---|
| Q1 2026 | 13F-HR | May 5, 2026 | 190 | $678.2M | canonical | SEC ↗ |
| Q4 2025 | 13F-HR | Feb 6, 2026 | 192 | $673.0M | canonical | SEC ↗ |
| Q3 2025 | 13F-HR | Nov 6, 2025 | 188 | $642.0M | canonical | SEC ↗ |
| Q2 2025 | 13F-HR | Jul 23, 2025 | 191 | $623.5M | canonical | SEC ↗ |
| Q1 2025 | 13F-HR/ARESTATEMENT | Jul 24, 2025 | 170 | $582.0M | canonical | SEC ↗ |
| Q1 2025 | 13F-HR | Apr 30, 2025 | 170 | $582.0M | SEC ↗ | |
| Q4 2024 | 13F-HR/ARESTATEMENT | Jul 24, 2025 | 166 | $561.3M | canonical | SEC ↗ |
| Q4 2024 | 13F-HR | Jan 31, 2025 | 166 | $561.3M | SEC ↗ | |
| Q3 2024 | 13F-HR/ARESTATEMENT | Jul 24, 2025 | 167 | $552.9M | canonical | SEC ↗ |
| Q3 2024 | 13F-HR | Oct 23, 2024 | 167 | $552.9M | SEC ↗ | |
| Q2 2024 | 13F-HR/ARESTATEMENT | Jul 24, 2025 | 168 | $486.7M | canonical | SEC ↗ |
| Q2 2024 | 13F-HR | Aug 1, 2024 | 168 | $486.7M | SEC ↗ | |
| Q1 2024 | 13F-HR/ARESTATEMENT | Jul 24, 2025 | 178 | $529.1M | canonical | SEC ↗ |
| Q1 2024 | 13F-HR | May 15, 2024 | 178 | $529.1M | SEC ↗ |