Check Capital Management Inc. In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 6, 2025), Check Capital Management Inc. reported 50 stock positions worth $1.6 billion . Its top holding was Berkshire Hathaway Class B (BRK.B) at 34.2% of the portfolio, followed by Brookfield (BN, 12.7% ) and Google Class C (GOOG, 11.0% ). Compared with Q2 2025, it opened 3 new positions, sold out of 2, added to 15 and reduced 11. The biggest buy was Sirius XM (SIRI, shares +77% ) and the biggest sale an exit from Suncor Energy (SU).
Location COSTA MESA, CA
CIK 0001032814
Portfolio Value $1.6B (Q3 2025) Holdings 50 stocks · $1.6B Holdings quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock % Of Portfolio ▼ Shares Held Total Value Change vs Q2 2025 BRK.B Berkshire Hathaway Inc. Class B 1,075,160 $540.5M Add +0.3% BN Brookfield Corp. 2,929,168 $200.9M Reduce -0.5% GOOG Google LLC Class C filed as ALPHABET INC CL C 715,352 $174.2M Reduce -0.9% MKL Markel Group Inc. 77,545 $148.2M Reduce -0.3% AER Aercap Holdings NV 831,737 $100.6M Reduce -0.8% FCNCA First Citizens Bcshs Class A 35,364 $63.3M Add +3.1% DIS The Walt Disney Co. filed as DISNEY WALT CO 434,268 $49.7M Add +0.2% LKQ LKQ Corp. 1,591,318 $48.6M Add +0.1% SIRI Sirius XM Holdings Inc. 2,061,843 $48.0M Add +76.7% FDX FedEx Corp. 200,188 $47.2M Add +0.6% HSY The Hershey Co. 189,169 $35.4M Add +1.4% KMX Carmax Inc. 600,043 $26.9M Add +0.2% Cimpress 384,287 $24.2M Add +4.4% BRK.A Berkshire Hathaway Inc. Class A 29 $21.9M No change W Wayfair Inc. Class A 167,850 $15.0M Add +0.5% AAPL Apple Inc. 25,395 $6.5M Reduce -4.8% BAC Bank of America Corp. filed as BANK AMERICA CORP 80,651 $4.2M Reduce -4.1% BH.A Biglari Holdings Inc. Class A 2,212 $3.4M Reduce -4.3% MSFT Microsoft Corp. 6,126 $3.2M No change TRUP Trupanion Inc. 40,980 $1.8M Reduce -4.9% AMGN Amgen Inc. 3,885 $1.1M Add +2.4% TSLA Tesla Inc. 2,450 $1.1M Reduce -3.1% GS Goldman Sachs Group Inc. 1,230 $980K No change GE General Electric Company 3,240 $975K No change GOOGLE LLC-CL A 3,623 $881K Add +0.1% CAT Caterpillar Inc. 1,717 $819K No change AMZN Amazon.com Inc. 3,143 $690K No change BAM Brookfield Asset Mgmt-A 11,586 $660K No change SPY SS SPDR S&P 500 ETF Trust-US 965 $643K No change XT Ishar Fture Exp Tech ETF-Usd 8,800 $633K No change GEV GE Vernova Inc. 988 $608K No change RTX RTX Corp. 3,489 $584K No change UBER Uber Technologies Inc. 4,890 $479K Reduce -2.0% BIGLARI HLDGS INC 1,340 $434K No change GLW Corning Inc. 5,050 $414K No change NVDA Nvidia Corp. 2,147 $401K Add +1.4% FAST Fastenal Co. 7,920 $388K No change POWERSHARES 641 $385K Reduce -10.6% WFC Wells Fargo & Co. 4,413 $370K No change COP Conocophillips 3,334 $315K No change SCHG Schwab US Large-Cap Growth 9,800 $313K No change JPM JPMorgan Chase & Co. 954 $301K Add +0.1% ITW Illinois Tool Works 1,100 $287K No change BA The Boeing Co. 1,245 $269K No change VZ Verizon Communications Inc. 5,840 $257K Add +0.3% DGX Quest Diagnostics Inc. 1,300 $248K No change UNH Unitedhealth Group Inc. 715 $247K New META Meta Platforms Inc. Class A 336 $247K No change CVX Chevron Corp. 1,350 $210K New CFG Citizens Financial Group 3,800 $202K New
Options reported separately and not counted above: BRK.B calls ($1.5B).
Portfolio Sells Q2 2025 → Q3 2025 Portfolio Sells quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock Change vs Q2 2025 % Of Portfolio Change To Portfolio ▲ SU Suncor Energy Inc. Sold out 0.00% −2.08 MKL Markel Group Inc. Reduce -0.3% 9.39% −0.85 AER Aercap Holdings NV Reduce -0.8% 6.37% −0.09 TRUP Trupanion Inc. Reduce -4.9% 0.11% −0.04 CDLX Cardlytics Inc. Sold out 0.00% −0.01 POWERSHARES Reduce -10.6% 0.02% −0.00 UBER Uber Technologies Inc. Reduce -2.0% 0.03% −0.00 BAC Bank of America Corp. Reduce -4.1% 0.26% +0.00 BH.A Biglari Holdings Inc. Class A Reduce -4.3% 0.22% +0.00 TSLA Tesla Inc. Reduce -3.1% 0.07% +0.02 AAPL Apple Inc. Reduce -4.8% 0.41% +0.05 BN Brookfield Corp. Reduce -0.5% 12.72% +0.72 GOOG Google LLC Class C Reduce -0.9% 11.03% +2.59
Portfolio Buys Q2 2025 → Q3 2025 Portfolio Buys quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock Change vs Q2 2025 % Of Portfolio Change To Portfolio ▼ SIRI Sirius XM Holdings Inc. Add +76.7% 3.04% +1.27 Cimpress Add +4.4% 1.53% +0.39 W Wayfair Inc. Class A Add +0.5% 0.95% +0.39 HSY The Hershey Co. Add +1.4% 2.24% +0.20 UNH Unitedhealth Group Inc. New 0.02% +0.02 GOOGLE LLC-CL A Add +0.1% 0.06% +0.01 CVX Chevron Corp. New 0.01% +0.01 CFG Citizens Financial Group New 0.01% +0.01 FDX FedEx Corp. Add +0.6% 2.99% +0.01 NVDA Nvidia Corp. Add +1.4% 0.03% +0.00 JPM JPMorgan Chase & Co. Add +0.1% 0.02% +0.00 AMGN Amgen Inc. Add +2.4% 0.07% −0.00 VZ Verizon Communications Inc. Add +0.3% 0.02% −0.00 BRK.B Berkshire Hathaway Inc. Class B Add +0.3% 34.23% −0.10 DIS The Walt Disney Co. Add +0.2% 3.15% −0.39 FCNCA First Citizens Bcshs Class A Add +3.1% 4.01% −0.41 LKQ LKQ Corp. Add +0.1% 3.08% −0.80 KMX Carmax Inc. Add +0.2% 1.71% −0.95
Options Activity Q2 2025 → Q3 2025 Security Type Change vs Q2 2025 Underlying Shares Value ▼ BRK.B Berkshire Hathaway Inc. Class B call Reduce -2.4% 2,893,900 $1.5B
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
All Filings Quarter Positions 13F Reported Value Top Holdings Q2 2026 Amended 52 $1.8B BRK.B, GOOG, BN, MKL, AER Q1 2026 49 $1.6B BRK.B, GOOG, BN, MKL, AER Q4 2025 50 $1.7B BRK.B, GOOG, BN, MKL, AER Q3 2025 50 $1.6B BRK.B, BN, GOOG, MKL, AER Q2 2025 49 $1.5B BRK.B, BN, MKL, GOOG, AER Q1 2025 50 $1.5B BRK.B, BN, MKL, GOOG, AER Q4 2024 53 $1.5B BRK.B, BN, GOOG, MKL, AER Q3 2024 50 $1.4B BRK.B, BN, GOOG, MKL, AER Q2 2024 49 $1.4B BRK.B, GOOG, BN, MKL, AER Q1 2024 49 $1.4B BRK.B, BN, MKL, GOOG, AER