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Check Capital

Q1 2022 13F · by Steven Check, CIO

As of
Mar 31, 2022
Filed
May 9, 2022
US stock
$1.3B · prev $1.3B
Positions
45 · prev 46
Options notional
$1.3B
Documents
1· no amendments

Picture48.9% US stock

Partial picture · of what this 13F reports is US stock

  • US stock listed on a US exchange 48.9%
  • Foreign stock not listed in the US 0.0%
  • Notes debt, at principal 0.0%
  • Puts at notional value 0.0%
  • Calls at notional value 51.0%

Moves39 since the prior filing

−2.8 pp in · +2.4 pp out

Options: 1 move on a notional base, in the table below.

The book

Very concentrated · behaves like 6 equal-sized positions

  1. Very concentrated
  2. Concentrated
  3. Focused
  4. Diversified

Low turnover · 2.3% a year, more than 30 years per position

  1. Low
  2. Moderate
  3. High

Top 5 positions64% of US stock

  1. BRK.B BERKSHIRE HATHAWAY Class B trimmed+5.64 pp trimmed+5.6435.8%
  2. unresolved Brookfield Asset Mgmt Inc trimmed−0.77 pp trimmed−0.7710.3%
  3. GOOG Alphabet Inc. Class C trimmed−0.28 pp trimmed−0.287.4%
  4. SU Suncor Energy, Inc. trimmed+1.22 pp trimmed+1.225.2%
  5. LKQ LKQ Corporation trimmed−1.54 pp trimmed−1.544.9%

Positions45 in this filing · 3 exited

BRK.BBERKSHIRE HATHAWAY Class B35.77%1,273,043$449Mtrimmed−1%+5.64 pp6 q
unresolvedBrookfield Asset Mgmt Inc10.25%2,275,468$129Mtrimmed−2%−0.77 pp6 q
GOOGAlphabet Inc. Class C7.44%33,473$93Mtrimmed−1%−0.28 pp6 q
SUSuncor Energy, Inc.5.23%2,014,531$66Mtrimmed−1%+1.22 pp6 q
LKQLKQ Corporation4.86%1,343,823$61Mtrimmed−1%−1.54 pp6 q
MKLMarkel Group Inc.4.84%41,221$61Madded+1%+0.87 pp6 q
KMXCarMax Inc.3.97%517,325$50Madded0%−1.31 pp6 q
FDXFedEx Corporation3.84%208,257$48Madded0%−0.38 pp6 q
AERAercap Holdings N.V.3.44%859,376$43Mtrimmed−1%−1.01 pp5 q
QSRRestaurant Brands International Inc.3.33%715,622$42Madded0%−0.07 pp6 q
WFCWells Fargo & Co.3.06%791,728$38Mtrimmed−7%−0.14 pp6 q
CMPRCimpress PLC (Ireland)2.19%432,858$28Madded+4%−0.15 pp6 q
BRK.ABerkshire Hathaway Inc.2.02%48$25Mheld—6 q
AAPAdvance Auto Parts Inc2.00%121,095$25Madded+1%−0.25 pp6 q
DGXQuest Diagnostics Inc.1.96%179,403$25Madded+1%−0.46 pp6 q
WWayfair Inc.1.62%184,168$20Madded+13%−0.81 pp6 q
BFHBread Financial Holdings, Inc.1.46%326,922$18Madded+2%−0.22 pp6 q
DISThe Walt Disney Company0.50%45,936$6Madded+12%0.00 pp6 q
AAPLApple Inc.0.47%33,866$6Mtrimmed−2%−0.01 pp6 q
LYLTLoyalty Ventures Inc.0.38%291,354$5Mtrimmed−5%−0.34 pp2 q
BACBank of America Corporation0.28%86,204$4Madded+15%+0.02 pp6 q
MSFTMicrosoft Corp0.15%6,029$2Madded0%−0.01 pp6 q
VZVerizon Communications0.14%33,428$2Mtrimmed−51%−0.14 pp6 q
BH.ABiglari Holdings Inc. Class A0.13%2,344$2Madded+2%0.00 pp6 q
TRUPTrupanion, Inc.0.11%15,290$1Madded+4%−0.04 pp6 q
AMGNAmgen Inc0.07%3,770$912,000held—6 q
XTiShares Trust iShares Future Exponential Technologies ETF0.04%8,400$496,000added+14%0.00 pp6 q
TSLATesla, Inc.0.04%501$540,000held—6 q
AMZNAmazon.Com Inc0.03%126$411,000trimmed−5%0.00 pp6 q
CDLXCardlytics, Inc.0.03%6,555$360,000new+0.03 ppnew
CATCaterpillar Inc.0.03%1,717$383,000trimmed−2%0.00 pp6 q
COPConocoPhillips0.03%3,404$340,000held—4 q
EWEdwards Lifesciences Corp0.03%2,700$318,000added+50%+0.01 pp3 q
FASTFastenal Co0.03%6,760$402,000held—6 q
GSGoldman Sachs Group Inc.0.03%1,330$439,000held—6 q
SPYState Street SPDR S&P 500 ETF Trust0.03%816$369,000added+2%0.00 pp6 q
CVXChevron Corporation0.02%1,702$277,000trimmed−1%0.00 pp5 q
CCitigroup Inc.0.02%4,048$216,000held—6 q
CFGCitizens Financial Group, Inc.0.02%4,700$213,000held—5 q
unresolvedGeneral Electric Co0.02%2,934$268,000new+0.02 ppnew
unresolvedGoogle Inc.0.02%112$312,000trimmed−61%−0.05 pp6 q
HN9Hanesbrands Inc0.02%13,755$205,000trimmed−84%−0.09 pp6 q
ITWIllinois Tool Works Inc.0.02%1,100$230,000held—6 q
QCOMQualcomm Inc0.02%1,635$250,000held—6 q
MTROMetro Bank PLC0.00%42,500$50,000trimmed−1%0.00 pp5 q
USBU.S. Bancorp—−5,985—exited−0.03 pp—
COFCapital One Financial—−1,500—exited−0.02 pp—
SCHGSchwab U.S. Large-Cap Growth ETF—−2,450—exited−0.02 pp—

Other 13(f) securities

Options 1

Contract% of notionalSharesNotional
BRK.B CALL100.00%3,712,000$1.3B

Notes 0

None in this filing

Source

Form
13F-HR
Reading
6 defects · 3 unresolved
Accession
0001032814-22-000003
Notes
none in this filing
SEC cross-check
SEC data set not published yet
  • A row was set aside — invalid CUSIP 045290255
  • A security outside the official 13F list — CUSIP 045290255 not on the Official 13(f) List for 2022-03-31
  • A security outside the official 13F list — CUSIP 369604103 not on the Official 13(f) List for 2022-03-31
  • A security outside the official 13F list — CUSIP 38259P508 not on the Official 13(f) List for 2022-03-31
  • A security outside the official 13F list — CUSIP 38259P706 not on the Official 13(f) List for 2022-03-31
  • A security outside the official 13F list — CUSIP G60640102 not on the Official 13(f) List for 2022-03-31