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SC

Steven Check Check Capital Management

AUM $7.52B
1-Year Est. Return 15.3%
 

Steven Check is the founder of Check Capital Management, a value-oriented firm known for research-driven equity portfolios and a long-term client focus. The firm often emphasizes understandable businesses purchased with a margin of safety. Check’s public commentary and portfolio disclosures appeal to investors who prefer classical value frameworks.

This Fund
S&P 500
This Quarter Est. Return
+5.07%
1 Year Est. Return
+15.3%
3 Year Est. Return
+66.62%
5 Year Est. Return
+84.34%
10 Year Est. Return
+232.1%
AUM
$3.43B
AUM Growth
+$71.1M
Cap. Flow
-$268M
Cap. Flow %
-7.83%
Top 10 Hldgs %
93.58%
Holding
54
New
1
Increased
18
Reduced
16
Closed
4

Top Buys

Rank Stock Value
1
MKL icon
Markel Group
MKL
+$3.53M
2
FDX icon
FedEx
FDX
+$3.53M
3
FCNCA icon
First Citizens BancShares
FCNCA
+$731K
4
SIRI icon
SiriusXM
SIRI
+$627K
5
HSY icon
Hershey
HSY
+$573K

Top Sells

Rank Stock Value
1
BRK.B icon
Berkshire Hathaway Class B
BRK.B
+$19.5M
2
AER icon
AerCap
AER
+$944K
3
GOOG icon
Alphabet (Google) Class C
GOOG
+$741K
4
BRK.A icon
Berkshire Hathaway Class A
BRK.A
+$729K
5
SU icon
Suncor Energy
SU
+$335K

Sector Composition

Rank Sector Weight
1 Financials 28.07%
2 Communication Services 5.4%
3 Industrials 4.05%
4 Consumer Discretionary 3.65%
5 Energy 1.93%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
BRK.B icon
1
CALL
Berkshire Hathaway Class B
BRK.B
$1.06T
$1.89B 55.13%
3,548,500
-524,100
-13% -$255M
BRK.B icon
2
Berkshire Hathaway Class B
BRK.B
$1.06T
$565M 16.5%
1,061,739
-40,203
-4% -$19.5M
BN icon
3
Brookfield
BN
$93.1B
$157M 4.58%
4,491,023
-4,444
-0.1% -$168K
MKL icon
4
Markel Group
MKL
$22.2B
$148M 4.31%
79,086
+1,921
+2% +$3.53M
GOOG icon
5
Alphabet (Google) Class C
GOOG
$4.18T
$115M 3.35%
735,569
-4,049
-0.5% -$741K
AER icon
6
AerCap
AER
$23B
$87.2M 2.54%
853,261
-9,541
-1% -$944K
LKQ icon
7
LKQ Corp
LKQ
$6.52B
$68.1M 1.99%
1,600,158
+10,121
+0.6% +$401K
SU icon
8
Suncor Energy
SU
$80B
$65.5M 1.91%
1,692,875
-8,790
-0.5% -$335K
FCNCA icon
9
First Citizens BancShares
FCNCA
$24.7B
$63M 1.84%
33,958
+359
+1% +$731K
FDX icon
10
FedEx
FDX
$76.9B
$48.9M 1.43%
200,622
+13,620
+7% +$3.53M
KMX icon
11
CarMax
KMX
$8.82B
$47.5M 1.39%
609,687
-2,976
-0.5% -$239K
DIS icon
12
Walt Disney
DIS
$186B
$43.3M 1.26%
438,568
-403
-0.1% -$43.3K
HSY icon
13
Hershey
HSY
$37.5B
$32.2M 0.94%
188,075
+3,498
+2% +$573K
SIRI icon
14
SiriusXM
SIRI
$9.67B
$26.4M 0.77%
1,172,344
+26,613
+2% +$627K
BRK.A icon
15
Berkshire Hathaway Class A
BRK.A
$1.06T
$21.9M 0.64%
29
-1
-3% -$729K
AAPL icon
16
Apple
AAPL
$4.51T
$5.92M 0.17%
26,654
-1,128
-4% -$261K
W icon
17
Wayfair
W
$13.9B
$5.37M 0.16%
167,745
+3,145
+2% +$131K
BAC icon
18
Bank of America
BAC
$431B
$3.79M 0.11%
90,913
-2,176
-2% -$97K
BH.A icon
19
Biglari Holdings Class A
BH.A
$1.24B
$2.55M 0.07%
2,314
– –
MSFT icon
20
Microsoft
MSFT
$3.59T
$2.26M 0.07%
6,031
+35
+0.6% +$14.3K
TRUP icon
21
Trupanion
TRUP
$1.36B
$1.58M 0.05%
42,320
+1,435
+4% +$59.7K
AMGN icon
22
Amgen
AMGN
$238B
$1.18M 0.03%
3,795
– –
GS icon
23
Goldman Sachs
GS
$303B
$672K 0.02%
1,230
– –
TSLA icon
24
Tesla
TSLA
$1.43T
$655K 0.02%
2,528
+50
+2% +$16.7K
GE icon
25
GE Aerospace
GE
$361B
$648K 0.02%
3,240
-87
-3% -$17.1K
1
2 3

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EAM
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Steven Check's Q1 2025 Portfolio in Review

As of Q1 2025, Steven Check held 54 positions worth $3.43B, up 2.1% from $3.36B the previous quarter. Its ten largest holdings account for 94% of the portfolio.

Steven Check withdrew a net $268M in Q1 2025, closing 4 positions and reducing 16 holdings. Its most notable exit was Taylor Morrison, an estimated $208K position sold in full.

By sector, the portfolio is most concentrated in Financials at 28% of assets, up from 27% a quarter earlier, followed by Communication Services and Industrials.

Against the trend, Steven Check opened a new position in Invesco QQQ Trust worth $336K.

  • Steven Check's largest Q1 2025 buy was Invesco QQQ Trust: 717 shares worth $336K.
  • Steven Check added most to Markel Group in Q1 2025, an estimated $3.53M increase.
  • Steven Check's biggest Q1 2025 reduction was Berkshire Hathaway Class B, cutting an estimated $19.5M.
  • Steven Check fully exited Taylor Morrison in Q1 2025, selling an estimated $208K.
  • Steven Check's ten largest holdings make up 94% of its $3.43B portfolio in Q1 2025.
  • Steven Check opened 1 new position and closed 4 in Q1 2025.
  • Steven Check's portfolio value rose 2.1% quarter-over-quarter to $3.43B.

Based on Check Capital Management's 13F filing for Q1 2025, filed 2 May 2025.