PICO Holdings

WATER RESOURCE AND
WATER STORAGE
OPERATIONS

REAL ESTATE
OPERATIONS

AGRIBUSINESS
OPERATIONS

In the course of our business, we endeavor to:

Acquire and develop unique undervalued assets, including water assets, land, and other businesses in strategic areas;

Enhance fair market value through operational expertise, development activities, transaction structure and efficient use of capital; and

Achieve consistent gains in book value per share.

Quietly and intelligently pursuing our business with the goal of increasing book value per share.