Check Capital

Q4 2024 13F · by Steven Check, CIO

As of: Dec 31, 2024
Filed: Jan 30, 2025
US stock: $1.5B · prev $1.4B
Positions: 53 · prev 50
Options notional: $1.8B
Documents: 1· no amendments

Picture45.0% US stock

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

US stock listed on a US exchange 45.0%
Foreign stock not listed in the US 0.1%
Notes debt, at principal 0.0%
Puts at notional value 0.0%
Calls at notional value 55.0%

Moves35 since the prior filing

+5.6 pp in · −5.4 pp out

New 5 +0.05 pp
Added 7 +5.54 pp
Trimmed 20 −5.43 pp
Exited 2 −0.02 pp

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

The book

Very concentrated · behaves like 7 equal-sized positions

Very concentrated
Concentrated
Focused
Diversified

Low turnover · 5.3% a year, about 19.0 years per position

Low
Moderate
High

Top 5 positions68% of US stock

BRK.B BERKSHIRE HATHAWAY Class B trimmed−3.46 pp trimmed−3.4633.1%
BN Brookfield Corporation trimmed−0.08 pp trimmed−0.0811.4%
GOOG Alphabet Inc. Class C trimmed+0.30 pp trimmed+0.309.3%
MKL Markel Group Inc. trimmed+0.18 pp trimmed+0.188.8%
AER Aercap Holdings N.V. trimmed−0.43 pp trimmed−0.435.5%

Positions53 in this filing · 2 exited


BRK.BBERKSHIRE HATHAWAY Class B	33.06%	1,101,942	$499M	trimmed−1%	−3.46 pp	17 q
BNBrookfield Corporation	11.40%	2,996,978	$172M	trimmed−1%	−0.08 pp	9 q
GOOGAlphabet Inc. Class C	9.28%	736,207	$140M	trimmed−2%	+0.30 pp	17 q
MKLMarkel Group Inc.	8.82%	77,165	$133M	trimmed−0%	+0.18 pp	17 q
AERAercap Holdings N.V.	5.47%	862,802	$83M	trimmed−1%	−0.43 pp	16 q
FCNCAFirst Citizens BancShares Inc	4.70%	33,599	$71M	added+20%	+1.03 pp	7 q
SUSuncor Energy, Inc.	4.02%	1,701,665	$61M	trimmed−1%	−0.48 pp	17 q
LKQLKQ Corporation	3.87%	1,590,037	$58M	trimmed−2%	−0.73 pp	17 q
FDXFedEx Corporation	3.48%	187,002	$53M	trimmed−0%	−0.17 pp	17 q
KMXCarMax Inc.	3.32%	612,663	$50M	trimmed−0%	−0.07 pp	17 q
DISThe Walt Disney Company	3.24%	438,971	$49M	added×134.9	+3.22 pp	17 q
HSYThe Hershey Company	2.07%	184,577	$31M	added+34%	+0.19 pp	4 q
SIRISirius XM Holdings, Inc	1.73%	1,145,731	$26M	added×7.0	+1.45 pp	2 q
CMPRCimpress PLC (Ireland)	1.66%	349,232	$25M	added+1%	−0.35 pp	17 q
BRK.ABerkshire Hathaway Inc.	1.35%	30	$20M	held	—	17 q
WWayfair Inc.	0.48%	164,600	$7M	trimmed−17%	−0.32 pp	17 q
AAPLApple Inc.	0.46%	27,782	$7M	trimmed−12%	−0.06 pp	17 q
BACBank of America Corporation	0.27%	93,089	$4M	trimmed−6%	−0.01 pp	17 q
BH.ABiglari Holdings Inc. Class A	0.20%	2,314	$3M	trimmed−3%	+0.06 pp	17 q
MSFTMicrosoft Corp	0.17%	5,996	$3M	held	—	17 q
TRUPTrupanion, Inc.	0.13%	40,885	$2M	trimmed−1%	+0.01 pp	17 q
AMGNAmgen Inc	0.07%	3,795	$989,129	held	—	17 q
TSLATesla, Inc.	0.07%	2,478	$1M	held	—	8 q
GSGoldman Sachs Group Inc.	0.05%	1,230	$704,323	held	—	17 q
XTiShares Trust iShares Future Exponential Technologies ETF	0.05%	12,450	$742,767	held	—	17 q
AMZNAmazon.Com Inc	0.04%	2,903	$636,924	held	—	17 q
BAMBrookfield Asset Management Ltd.	0.04%	11,536	$625,136	trimmed−78%	−0.14 pp	9 q
CATCaterpillar Inc.	0.04%	1,717	$622,859	held	—	17 q
unresolvedGeneral Electric Co	0.04%	3,327	$554,910	held	—	9 q
unresolvedGoogle Inc.	0.04%	3,411	$645,668	trimmed−3%	0.00 pp	17 q
SPYState Street SPDR S&P 500 ETF Trust	0.04%	978	$573,304	added+1%	0.00 pp	17 q
RTXRTX Corporation	0.03%	3,489	$403,747	held	—	6 q
unresolvedBiglari Holdings Inc	0.02%	1,340	$340,749	held	—	4 q
COPConocoPhillips	0.02%	3,334	$330,633	held	—	15 q
GLWCorning Incorporated	0.02%	5,050	$239,976	held	—	2 q
FASTFastenal Co	0.02%	3,960	$284,764	held	—	17 q
GEVGE Vernova Inc.	0.02%	988	$324,983	held	—	2 q
ITWIllinois Tool Works Inc.	0.02%	1,100	$278,916	held	—	9 q
SCHGSchwab U.S. Large-Cap Growth ETF	0.02%	9,800	$273,126	held	—	5 q
VZVerizon Communications	0.02%	5,787	$231,412	trimmed−11%	0.00 pp	17 q
WFCWells Fargo & Co.	0.02%	4,913	$345,089	held	—	17 q
BABoeing Company	0.01%	1,245	$220,365	new	+0.01 pp	new
CDLXCardlytics, Inc.	0.01%	56,200	$208,502	added+11%	0.00 pp	10 q
CVXChevron Corporation	0.01%	1,500	$217,260	trimmed−1%	−0.01 pp	16 q
CFGCitizens Financial Group, Inc.	0.01%	4,700	$205,672	new	+0.01 pp	new
JPMJPMorgan Chase & Co.	0.01%	941	$225,533	new	+0.01 pp	new
NVDANvidia Corp	0.01%	1,600	$214,895	new	+0.01 pp	new
OKEOneok, Inc.	0.01%	2,000	$200,800	new	+0.01 pp	new
PGProcter & Gamble Company	0.01%	1,200	$201,180	trimmed−8%	−0.01 pp	4 q
DGXQuest Diagnostics Inc.	0.01%	1,435	$216,485	held	—	17 q
SRESempra	0.01%	2,299	$201,638	trimmed−39%	−0.01 pp	8 q
TMHCTaylor Morrison Home Corporation	0.01%	3,400	$208,114	held	—	2 q
UBERUber Technologies, Inc.	0.01%	3,500	$211,120	held	—	7 q
TSNTyson Foods, Inc.	—	−4,250	—	exited	−0.02 pp	—
MTRBFMetro Bk Hldgs PLC	—	−10,000	—	exited	0.00 pp	—

Other 13(f) securities

Options 1

Contract	% of notional	Shares	Notional
BRK.B CALL	100.00%	4,072,600	$1.8B

Notes 0

None in this filing

Source

Form: 13F-HR
Reading: 6 defects · 3 unresolved
Accession: 0001032814-25-000002
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 2024-12-31
A security outside the official 13F list — CUSIP 08986R101 not on the Official 13(f) List for 2024-12-31
A security outside the official 13F list — CUSIP 369604103 not on the Official 13(f) List for 2024-12-31
A security outside the official 13F list — CUSIP 38259P508 not on the Official 13(f) List for 2024-12-31
A security outside the official 13F list — CUSIP 38259P706 not on the Official 13(f) List for 2024-12-31

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