Check Capital Management Inc.

In its 13F for Q2 2025 (holdings as of June 30, 2025, filed July 25, 2025), Check Capital Management Inc. reported 49 stock positions worth $1.5 billion. Its top holding was Berkshire Hathaway Class B (BRK.B) at 34.3% of the portfolio, followed by Brookfield (BN, 12.0%) and Markel (MKL, 10.2%). Compared with Q1 2025, it opened 1 new position, sold out of 2, added to 11 and reduced 15. The biggest buy was First Citizens Bcshs Class A (FCNCA, shares +1%) and the biggest sale Suncor Energy (SU, shares −50%).

Most Recent 13F
Q2 2026
Location
COSTA MESA, CA
CIK
0001032814
Portfolio Value
$1.5B (Q2 2025)
SEC Filing
0001032814-25-000005 ↗ filed Jul 25, 2025

Holdings Value

0$500.0M$1.0B$1.5B$2.0B Q1 2024: $1.4B Q1 2024 Q2 2024: $1.4B Q2 2024 Q3 2024: $1.4B Q3 2024 Q4 2024: $1.5B Q4 2024 Q1 2025: $1.5B Q1 2025 Q2 2025: $1.5B $1.5B Q2 2025 Q3 2025: $1.6B Q3 2025 Q4 2025: $1.7B Q4 2025 Q1 2026: $1.6B Q1 2026 Q2 2026: $1.8B Q2 2026

Holdings 49 stocks · $1.5B
BRK.B Berkshire Hathaway Inc. Class B 34.33% 1,072,065 $520.8M Add +1.0%
BN Brookfield Corp. 12.00% 2,943,591 $182.1M Reduce -1.7%
MKL Markel Group Inc. 10.24% 77,780 $155.4M Reduce -1.6%
GOOG Google LLC Class C filed as ALPHABET INC CL C 8.44% 721,952 $128.1M Reduce -1.4%
AER Aercap Holdings NV 6.47% 838,329 $98.1M Reduce -1.8%
FCNCA First Citizens Bcshs Class A 4.42% 34,286 $67.1M Add +1.0%
LKQ LKQ Corp. 3.88% 1,590,163 $58.9M Reduce -0.6%
DIS The Walt Disney Co. filed as DISNEY WALT CO 3.54% 433,462 $53.8M Reduce -1.2%
FDX FedEx Corp. 2.98% 198,927 $45.2M Reduce -0.8%
KMX Carmax Inc. 2.65% 598,979 $40.3M Reduce -1.8%
SU Suncor Energy Inc. 2.08% 841,456 $31.5M Reduce -50.3%
HSY The Hershey Co. 2.04% 186,554 $31.0M Reduce -0.8%
SIRI Sirius XM Holdings Inc. 1.77% 1,166,596 $26.8M Reduce -0.5%
BRK.A Berkshire Hathaway Inc. Class A 1.39% 29 $21.1M No change
Cimpress 1.14% 368,129 $17.3M Add +1.8%
W Wayfair Inc. Class A 0.56% 166,983 $8.5M Reduce -0.5%
AAPL Apple Inc. 0.36% 26,675 $5.5M Add +0.1%
BAC Bank of America Corp. filed as BANK AMERICA CORP 0.26% 84,065 $4.0M Reduce -7.5%
BH.A Biglari Holdings Inc. Class A 0.21% 2,312 $3.2M Reduce -0.1%
MSFT Microsoft Corp. 0.20% 6,126 $3.0M Add +1.6%
TRUP Trupanion Inc. 0.16% 43,080 $2.4M Add +1.8%
AMGN Amgen Inc. 0.07% 3,795 $1.1M No change
GS Goldman Sachs Group Inc. 0.06% 1,230 $871K No change
GE General Electric Company 0.06% 3,240 $834K No change
TSLA Tesla Inc. 0.05% 2,528 $803K No change
AMZN Amazon.com Inc. 0.05% 3,143 $690K Add +6.8%
CAT Caterpillar Inc. 0.04% 1,717 $667K No change
BAM Brookfield Asset Mgmt-A 0.04% 11,586 $640K No change
GOOGLE LLC-CL A 0.04% 3,620 $638K Add +2.8%
SPY SS SPDR S&P 500 ETF Trust-US 0.04% 965 $596K No change
XT Ishar Fture Exp Tech ETF-Usd 0.04% 8,800 $574K No change
GEV GE Vernova Inc. 0.03% 988 $523K No change
RTX RTX Corp. 0.03% 3,489 $509K No change
UBER Uber Technologies Inc. 0.03% 4,990 $466K No change
POWERSHARES 0.03% 717 $396K No change
BIGLARI HLDGS INC 0.03% 1,340 $392K No change
WFC Wells Fargo & Co. 0.02% 4,413 $354K Reduce -10.2%
NVDA Nvidia Corp. 0.02% 2,117 $335K No change
FAST Fastenal Co. 0.02% 7,920 $333K No change
COP Conocophillips 0.02% 3,334 $299K No change
SCHG Schwab US Large-Cap Growth 0.02% 9,800 $286K No change
JPM JPMorgan Chase & Co. 0.02% 953 $276K Add +0.1%
ITW Illinois Tool Works 0.02% 1,100 $272K No change
GLW Corning Inc. 0.02% 5,050 $266K No change
BA The Boeing Co. 0.02% 1,245 $261K No change
VZ Verizon Communications Inc. 0.02% 5,822 $252K Add +0.3%
META Meta Platforms Inc. Class A 0.02% 336 $248K New
DGX Quest Diagnostics Inc. 0.02% 1,300 $234K No change
CDLX Cardlytics Inc. 0.01% 74,500 $123K Add +20.8%

Options reported separately and not counted above: BRK.B calls ($1.4B).

Portfolio Sells Q1 2025 → Q2 2025
SU Suncor Energy Inc. Reduce -50.3% 2.08% −2.18
LKQ LKQ Corp. Reduce -0.6% 3.88% −0.55
KMX Carmax Inc. Reduce -1.8% 2.65% −0.44
FDX FedEx Corp. Reduce -0.8% 2.98% −0.20
HSY The Hershey Co. Reduce -0.8% 2.04% −0.05
CVX Chevron Corp. Sold out 0.00% −0.01
PG The Procter & Gamble Co. Sold out 0.00% −0.01
WFC Wells Fargo & Co. Reduce -10.2% 0.02% +0.00
BAC Bank of America Corp. Reduce -7.5% 0.26% +0.02
BH.A Biglari Holdings Inc. Class A Reduce -0.1% 0.21% +0.05
SIRI Sirius XM Holdings Inc. Reduce -0.5% 1.77% +0.05
W Wayfair Inc. Class A Reduce -0.5% 0.56% +0.21
MKL Markel Group Inc. Reduce -1.6% 10.24% +0.63
DIS The Walt Disney Co. Reduce -1.2% 3.54% +0.73
AER Aercap Holdings NV Reduce -1.8% 6.47% +0.80
GOOG Google LLC Class C Reduce -1.4% 8.44% +1.01
BN Brookfield Corp. Reduce -1.7% 12.00% +1.80

Portfolio Buys Q1 2025 → Q2 2025
FCNCA First Citizens Bcshs Class A Add +1.0% 4.42% +0.33
Cimpress Add +1.8% 1.14% +0.08
TRUP Trupanion Inc. Add +1.8% 0.16% +0.05
MSFT Microsoft Corp. Add +1.6% 0.20% +0.05
META Meta Platforms Inc. Class A New 0.02% +0.02
AMZN Amazon.com Inc. Add +6.8% 0.05% +0.01
GOOGLE LLC-CL A Add +2.8% 0.04% +0.01
JPM JPMorgan Chase & Co. Add +0.1% 0.02% +0.00
CDLX Cardlytics Inc. Add +20.8% 0.01% +0.00
VZ Verizon Communications Inc. Add +0.3% 0.02% −0.00
AAPL Apple Inc. Add +0.1% 0.36% −0.02
BRK.B Berkshire Hathaway Inc. Class B Add +1.0% 34.33% −2.44

Options Activity Q1 2025 → Q2 2025
BRK.B Berkshire Hathaway Inc. Class B call Reduce -16.4% 2,965,500 $1.4B

Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026Amended 52$1.8BBRK.B, GOOG, BN, MKL, AER
Q1 2026 49$1.6BBRK.B, GOOG, BN, MKL, AER
Q4 2025 50$1.7BBRK.B, GOOG, BN, MKL, AER
Q3 2025 50$1.6BBRK.B, BN, GOOG, MKL, AER
Q2 2025 49$1.5BBRK.B, BN, MKL, GOOG, AER
Q1 2025 50$1.5BBRK.B, BN, MKL, GOOG, AER
Q4 2024 53$1.5BBRK.B, BN, GOOG, MKL, AER
Q3 2024 50$1.4BBRK.B, BN, GOOG, MKL, AER
Q2 2024 49$1.4BBRK.B, GOOG, BN, MKL, AER
Q1 2024 49$1.4BBRK.B, BN, MKL, GOOG, AER