CHECK CAPITAL MANAGEMENT INC/CA

CIK

1032814

Location

COSTA MESA, CA

Portfolio Value

Mid $3,179,638,620

Diversification

Highly concentrated

Filing Date

Global Rank

#886 / 8,623 ▲ 26 · as of Mar 2026

Top Industry

Insurance - Diversified 73.8%

3Y Alpha vs SPY

-5.8%

Period ended 4 months ago

Filed May 4, 2026 · 3mo

21 quarters · since Mar 2020

Clone Performance

Jul 2023–Jul 2026 · vs SPY

Hypothetical growth of buying every stock this filer reported holding, rebalancing on each filing and indexed to the same start. Option positions cannot be bought this way and are left out.

Not a measure of this manager's performance. Most of CHECK CAPITAL MANAGEMENT INC/CA's reported book is option positions, which a stock-only clone cannot replicate. The figures below are the return of the 43% that is ordinary stock — as little as 40% in one quarter — so a manager whose options thesis lost money can still show a large gain here.

Cloned portfolio

+40.9%

SPY

+65.3%

Annualised alpha

-6.1%

Max drawdown

−12.4%

Estimate. 13F holdings are quarter-lagged, so the clone rebalances about 45 days after each period end — when the filing becomes public — and it excludes option and short positions. It tracks 43% of reported value on average across 11 quarters. Past performance does not predict future results.

Portfolio Concentration

41 tracked positions · as of Mar 31, 2026 · Δ vs Dec 31, 2025

Top Position

73.8%

+0.5 pts

Top 5

90.1%

−1.5 pts

Top 10

97.9%

−0.5 pts

HHI

5,526

Highly concentrated+54

Portfolio Trend

21 quarters · across all stocks

Sector Breakdown

As of Mar 31, 2026

Sector	% Portfolio	Value	Positions
Financial Services	87.6%	$2,785,271,337	13
Industrials	3.7%	$116,136,938	8
Consumer Cyclical	3.6%	$115,121,310	5
Communication Services	3.5%	$110,421,862	3
Consumer Defensive	1.3%	$39,979,325	1
Technology	0.3%	$9,511,390	5
Healthcare	0.1%	$1,955,077	3
Unclassified	0.0%	$627,578	1
Energy	0.0%	$613,803	2

Last Quarter's Activity

Export CSV

Mar 31, 2026 vs Dec 31, 2025

Added To

Positions the filer increased

14 positions

Ticker	Company	Δ Shares	Shares	Value
LKQ	Lkq Corp	+358,625	1,917,106	$56,305,403
BRK-B	Berkshire Hathaway Inc	+281,582	4,894,090	$2,345,247,928
JEF	Jefferies Financial Group Inc.	+227,684	680,171	$28,070,657
AMZN	Amazon Com Inc	+200,606	204,087	$42,505,199
SIRI	Sirius Xm Holdings Inc.	+59,095	2,942,595	$67,915,092
DIS	Walt Disney Co	+1,892	438,533	$42,265,810
HSY	Hershey Co	+1,621	192,310	$39,979,325
FCNCA	First Citizens Bancshares Inc /De/	+1,280	44,068	$83,053,196
W	Wayfair Inc.	+756	167,948	$12,631,369
UNH	Unitedhealth Group Inc	+513	1,232	$333,366
BA	Boeing Co	+200	1,445	$287,598
BAM	Brookfield Asset Management Ltd.	+168	12,954	$575,805
FRFHF	Fairfax Financial Holdings Ltd/ Can	+86	219	$372,738
JPM	Jpmorgan Chase & Co	+1	956	$281,216
No positions match the current search.

Trimmed

Positions the filer reduced

12 positions

Ticker	Company	Δ Shares	Shares	Value
BAC	Bank Of America Corp /De/	−67,705	12,032	$586,560
AER	AerCap Holdings N.V.	−9,707	817,655	$112,165,912
BN	BROOKFIELD Corp /ON/	−9,030	4,379,938	$177,256,090
AAPL	Apple Inc.	−2,322	23,073	$5,855,696
FDX	Fedex Corp	−1,244	993	$353,686
VZ	Verizon Communications Inc	−1,060	4,800	$240,960
WFC	Wells Fargo & Company/Mn	−625	4,413	$351,318
BH-A	Biglari Holdings Inc.	−622	1,578	$2,749,964
MKL	Markel Group Inc.	−427	76,886	$147,165,178
GEV	GE Vernova Inc.	−87	901	$786,482
TRUP	Trupanion, Inc.	−85	40,695	$1,042,198
MSFT	Microsoft Corp	−47	6,079	$2,250,263
No positions match the current search.

New Positions

Positions the filer opened this quarter

No qualifying positions this quarter.

Sold Out

Positions the filer fully exited

1 positions

Ticker	Company	Shares	Value	Open
META	Meta Platforms, Inc.	336	$221,790
No positions match the current search.

Portfolio Positions

Compact Export CSV View 13F filing

41 tracked positions · $3,179,638,620 total · filing declares 66 positions · $3,436,041,546 · as of Mar 31, 2026

All sectors Communication Services Consumer Cyclical Consumer Defensive Energy Financial Services Healthcare Industrials Technology

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	% of Portfolio
BRK-B	Berkshire Hathaway Inc CALL + SHARES Financial Services	Added	4,894,090	+281,582	$2,345,247,928	+1.2%	73.76%
BN	BROOKFIELD Corp /ON/ Financial Services	Reduced	4,379,938	-9,030	$177,256,090	−12.0%	5.57%
MKL	Markel Group Inc. Financial Services	Reduced	76,886	-427	$147,165,178	−11.5%	4.63%
AER	AerCap Holdings N.V. Industrials	Reduced	817,655	-9,707	$112,165,912	−5.7%	3.53%
FCNCA	First Citizens Bancshares Inc /De/ Financial Services	Added	44,068	+1,280	$83,053,196	−9.6%	2.61%
SIRI	Sirius Xm Holdings Inc. Communication Services	Added	2,942,595	+59,095	$67,915,092	+17.8%	2.14%
LKQ	Lkq Corp Consumer Cyclical	Added	1,917,106	+358,625	$56,305,403	+19.6%	1.77%
AMZN	Amazon Com Inc Consumer Cyclical	Added	204,087	+200,606	$42,505,199	+5190.1%	1.34%
DIS	Walt Disney Co Communication Services	Added	438,533	+1,892	$42,265,810	−14.9%	1.33%
HSY	Hershey Co Consumer Defensive	Added	192,310	+1,621	$39,979,325	+15.2%	1.26%
JEF	Jefferies Financial Group Inc. Financial Services	Added	680,171	+227,684	$28,070,657	+0.1%	0.88%
W	Wayfair Inc. Consumer Cyclical	Added	167,948	+756	$12,631,369	−24.8%	0.40%
AAPL	Apple Inc. Technology	Reduced	23,073	-2,322	$5,855,696	−15.2%	0.18%
BH-A	Biglari Holdings Inc. Consumer Cyclical	Reduced	1,578	-622	$2,749,964	−28.2%	0.09%
MSFT	Microsoft Corp Technology	Reduced	6,079	-47	$2,250,263	−24.0%	0.07%
AMGN	Amgen Inc Healthcare	Held	3,885	0	$1,366,937	+7.5%	0.04%
CAT	Caterpillar Inc Industrials	Held	1,717	0	$1,216,425	+23.7%	0.04%
TRUP	Trupanion, Inc. Financial Services	Reduced	40,695	-85	$1,042,198	−31.6%	0.03%
GS	Goldman Sachs Group Inc Financial Services	Held	1,230	0	$1,040,567	−3.8%	0.03%
TSLA	Tesla, Inc. Consumer Cyclical	Held	2,500	0	$929,375	−17.3%	0.03%
GEV	GE Vernova Inc. Industrials	Reduced	901	-87	$786,482	+21.8%	0.02%
GLW	Corning Inc /Ny Technology	Held	5,050	0	$686,648	+55.3%	0.02%
RTX	RTX Corp Industrials	Held	3,489	0	$673,028	+5.2%	0.02%
SPY	Spdr S&P 500 ETF Trust	Held	965	0	$627,578	−4.6%	0.02%
BAC	Bank Of America Corp /De/ Financial Services	Reduced	12,032	-67,705	$586,560	−86.6%	0.02%
BAM	Brookfield Asset Management Ltd. Financial Services	Added	12,954	+168	$575,805	−14.0%	0.02%
FRFHF	Fairfax Financial Holdings Ltd/ Can Financial Services	Added	219	+86	$372,738	+46.9%	0.01%
NVDA	Nvidia Corp Technology	Held	2,117	0	$369,204	−6.5%	0.01%
FAST	Fastenal Co Industrials	Held	7,920	0	$367,488	+15.6%	0.01%
FDX	Fedex Corp Industrials	Reduced	993	-1,244	$353,686	−45.3%	0.01%
WFC	Wells Fargo & Company/Mn Financial Services	Reduced	4,413	-625	$351,318	−25.2%	0.01%
UBER	Uber Technologies, Inc Technology	Held	4,860	0	$349,579	−12.0%	0.01%
COP	Conocophillips Energy	Held	2,534	0	$334,488	+41.0%	0.01%
UNH	Unitedhealth Group Inc Healthcare	Added	1,232	+513	$333,366	+40.5%	0.01%
BA	Boeing Co Industrials	Added	1,445	+200	$287,598	+6.4%	0.01%
ITW	Illinois Tool Works Inc Industrials	Held	1,100	0	$286,319	+5.7%	0.01%
JPM	Jpmorgan Chase & Co Financial Services	Added	956	+1	$281,216	−8.6%	0.01%
CVX	Chevron Corp Energy	Held	1,350	0	$279,315	+35.8%	0.01%
DGX	Quest Diagnostics Inc Healthcare	Held	1,300	0	$254,774	+12.9%	0.01%
VZ	Verizon Communications Inc Communication Services	Reduced	4,800	-1,060	$240,960	+1.0%	0.01%
CFG	Citizens Financial Group Inc/Ri Financial Services	Held	3,800	0	$227,886	+2.7%	0.01%

Covers the securities this platform tracks: U.S.-listed common stock and the put/call positions reported on it. A 13F can also report security types outside that coverage — preferred shares, bonds, warrants, untracked share classes — so the filing's own declared total can exceed the figures above. The source filing is linked at the top of this table.