中文
Value GiantsValue investors’ 13F holdings, as a whole
Q2 2026 13FData as of Aug 18, 2026
Classic value

Steven Check

Q4 2025 13F: 50 holdings worth about $1.7B; that quarter 2 new, 11 added, 9 trimmed, 2 sold out.

Firm: Check Capital Management Inc
Filer: CHECK CAPITAL MANAGEMENT INC/CA CIK 1032814
Last filed: Feb 6, 2026 | Classic value | Not counted this quarter (A3 options = 55%); below is the last counted quarter, Q4 2025.

13F lists only long positions in US-listed stocks (and some ETFs and convertibles); short positions, cash, bonds, shares listed outside the US and private companies are not shown, so this is not the giant’s whole portfolio.

Why This Giant Is Included

  • Rule numbers (Q2 2026): 52 holdings, top 10 = 89%, stocks $1.8B, options 53%; not met: A3 options = 53%

Full selection rules →

13F value
$1.7B
previous $1.6B (+5.9%)
Holdings
50
2 new / 2 sold out
Net deploymentest.
−0.3%
est. net buying ÷ last quarter’s portfolio
Top-10 concentration
92%
overlap with the composite 10%
Turnoverest.
4.8%
held 26 quarters on average
I

Trades in Q4 2025

Sorted by position shift: how many percentage points of the portfolio the trade moved.

How to Read This

Share changes are split-adjusted. Est. trade price = (start + end price) ÷ 2; 13F does not show the actual trade date or price.

MoveCompanyChange in sharesChange %Position shift (pts)Start → end priceEst. trade price
TrimmedFDXFedEx Corp−198.0K−99%−3.42$235.81 → $288.86$262.33
NewJEFJefferies Financial Group Inc+452.5K—+1.68$65.42 → $61.97$63.70
Sold outKMXCarMax Inc−600.0K—−1.39$44.87 → $38.64$41.75
AddedSIRISirius XM Holdings Inc+821.7K+40%+0.98$23.28 → $20.00$21.64
AddedFCNCAFirst Citizens BancShares+7.4K+21%+0.95$1,789 → $2,146$1,968
AddedBRK.BBerkshire Hathaway Inc+27.3K+3%+0.82$502.74 → $502.65$502.69
Trimmed—Google LLC−11.7K−2%−0.22$243.55 → $313.80$278.68
Added—Cimpress NV+22.3K+6%+0.09$63.04 → $66.59$64.82
TrimmedLKQLKQ Corp−32.8K−2%−0.06$30.54 → $30.20$30.37
TrimmedAERAerCap Holdings N.V−4.4K−1%−0.04$121.00 → $143.76$132.38
Sold out—Powershares QQQ Trust−641—−0.02$600.37 → ——
AddedHSYHershey Co+1.5K+1%+0.02$187.05 → $181.98$184.52
AddedDISWalt Disney Co+2.4K+1%+0.02$114.50 → $113.77$114.13
NewFRFHFFairfax Financial Holdings Ltd/ Can+133—+0.02$1,750 → $1,908$1,829
AddedAMZNAmazon.com Inc+338+11%+0.00$219.57 → $230.82$225.19
TrimmedCOPConocoPhillips−800−24%−0.00$94.59 → $93.61$94.10
AddedBAMBrookfield Asset Management Ltd+1.2K+10%+0.00$56.94 → $52.39$54.67
AddedWFCWells Fargo & Co+625+14%+0.00$83.82 → $93.20$88.51
TrimmedBACBank of America Corp−914−1%−0.00$51.59 → $55.00$53.30
AddedTSLATesla, Inc+50+2%+0.00$444.72 → $449.72$447.22
TrimmedBH.ABiglari Holdings Inc−12−1%−0.00$1,545 → $1,740$1,643
TrimmedNVDANVIDIA Corp−30−1%−0.00$186.58 → $186.50$186.54
TrimmedUBERUber Technologies, Inc−30−1%−0.00$97.97 → $81.71$89.84
AddedUNHUnitedHealth Group Inc+4+1%+0.00$345.30 → $330.11$337.71
II

All Holdings (48 Companies)

Share classes of one company are combined; click a heading to re-sort.

How to Read This

Est. average cost: shares bought each quarter × (start + end price) ÷ 2, weighted; trims do not change the cost. Positions held before Q1 1999 (or the giant’s earliest electronic filing) start from that quarter’s price and are marked ‘start point’. vs cost = quarter-end price ÷ est. average cost − 1, excluding dividends.

CompanySectorWeight (prev.)SharesValueThis quarterFirst boughtQuarters heldEst. avg costQuarter-end pricevs costHistory
BRK.BBerkshire Hathaway IncFinancials34.4%35.6%1.10M$576.1MAdded +3%Q3 200678$173.20est.$502.65+190%History
—Google LLCUnclassified13.3%11.1%703.6K$221.9MTrimmed −2%Q2 201927$969.85est.$313.80−68%
BNBrookfield CorpFinancials12.0%12.7%4.39M$201.4MHeldQ4 201733$19.87est.$45.89+131%
MKLMarkel Group IncFinancials9.9%9.4%77.3K$166.2MHeldQ2 201447$1,179est.$2,150+82%History
AERAerCap Holdings N.VIndustrials7.1%6.4%827.4K$118.9MTrimmed −1%Q1 202120$53.88est.$143.76+167%History
FCNCAFirst Citizens BancSharesFinancials5.5%4.0%42.8K$91.8MAdded +21%Q2 202311$1,517est.$2,146+41%History
SIRISirius XM Holdings IncCommunication & media3.4%3.0%2.88M$57.7MAdded +40%Q3 20246$22.76est.$20.00−12%History
DISWalt Disney CoCommunication & media3.0%3.1%436.6K$49.7MAdded +1%Q4 201541$104.16est.$113.77+9%History
LKQLKQ CorpIndustrials2.8%3.1%1.56M$47.1MTrimmed −2%Q1 201736$35.31est.$30.20−14%History
HSYHershey CoConsumer staples2.1%2.2%190.7K$34.7MAdded +1%Q1 20248$187.38est.$181.98−3%History
JEFJefferies Financial Group IncFinancials1.7%—452.5K$28.0MNewQ4 20251$63.69est.$61.97−3%History
—Cimpress NVUnclassified1.6%1.5%406.6K$27.1MAdded +6%Q1 201736$80.89est.$66.59−18%
WWayfair IncConsumer discretionary1.0%0.9%167.2K$16.8MHeldQ2 202023$218.04est.$100.41−54%History
AAPLApple IncInformation technology0.4%0.4%25.4K$6.9MHeldQ3 201254$39.82est.$271.86+583%History
BACBank of America CorpFinancials0.3%0.3%79.7K$4.4MTrimmed −1%Q3 201446$29.90est.$55.00+84%History
BH.ABiglari Holdings IncConsumer discretionary0.2%0.2%2.2K$3.8MTrimmed −1%Q2 201831$704.35est.$1,740+147%History
MSFTMicrosoft CorpInformation technology0.2%0.2%6.1K$3.0MHeldQ3 200870$94.15est.$483.62+414%History
TRUPTrupanion IncHealth care0.1%0.1%40.8K$1.5MHeldQ1 201832$33.75est.$37.37+11%History
AMGNAmgen IncHealth care0.1%0.1%3.9K$1.3MHeldQ1 201544$177.98est.$327.31+84%History
TSLATesla, IncConsumer discretionary0.1%0.1%2.5K$1.1MAdded +2%Q1 202312$207.87est.$449.72+116%History
GSGoldman Sachs Group IncFinancials0.1%0.1%1.2K$1.1MHeldQ4 201637$214.90est.$879.00+309%History
—General Electric CoIndustrials0.1%0.1%3.2K$998KHeldQ4 202213$78.17est.$308.03+294%
CATCaterpillar IncIndustrials0.1%0.1%1.7K$984KHeldQ1 201832$162.65est.$572.87+252%History
AMZNAmazon.com IncConsumer discretionary0.0%0.0%3.5K$804KAdded +11%Q4 201925$136.74est.$230.82+69%History
BAMBrookfield Asset Management LtdFinancials0.0%0.0%12.8K$670KAdded +10%Q4 202213$32.62est.$52.39+61%History
SPYSPDR S&P 500 ETF TrustFunds & ETFs0.0%0.0%965$658KHeldQ2 201735$293.73est.$681.92+132%History
FDXFedEx CorpIndustrials0.0%3.0%2.2K$646KTrimmed −99%Q4 201541$176.58est.$288.86+64%History
GEVGE Vernova IncInformation technology0.0%0.0%988$646KHeldQ3 20246$213.24est.$653.57+206%History
RTXRTX CorpIndustrials0.0%0.0%3.5K$640KHeldQ3 202310$84.96est.$183.40+116%History
XTiShares Exponential Technologies ETFFunds & ETFs0.0%0.0%8.8K$614KHeldQ3 201734$43.83est.$69.74+59%History
WFCWells Fargo & CoFinancials0.0%0.0%5.0K$470KAdded +14%Q2 200295$43.97est.$93.20+112%History
—Steak N Shake CoConsumer discretionary0.0%0.0%1.3K$445KHeldQ1 20248$189.34est.$332.43+76%
GLWCorning IncMaterials0.0%0.0%5.0K$442KHeldQ3 20246$42.00est.$87.56+108%History
UBERUber Technologies, IncIndustrials0.0%0.0%4.9K$397KTrimmed −1%Q2 202311$46.66est.$81.71+75%History
NVDANVIDIA CorpInformation technology0.0%0.0%2.1K$395KTrimmed −1%Q4 20245$126.91est.$186.50+47%History
SCHGSchwab US Large-Cap GrowthFunds & ETFs0.0%0.0%9.8K$320KHeldQ4 20239$19.46est.$32.62+68%History
FASTFastenal CoConsumer discretionary0.0%0.0%7.9K$318KHeldQ3 201446$11.15est.$40.13+260%History
JPMJPMorgan Chase & CoFinancials0.0%0.0%955$308KHeldQ4 20245$225.48est.$322.22+43%History
ITWIllinois Tool WorksIndustrials0.0%0.0%1.1K$271KHeldQ4 202213$200.49est.$246.30+23%History
BABoeing CoIndustrials0.0%0.0%1.2K$270KHeldQ4 20245$164.52est.$217.12+32%History
FRFHFFairfax Financial Holdings Ltd/ CanFinancials0.0%—133$254KNewQ4 20251$1,829est.$1,908+4%History
VZVerizon Communications IncCommunication & media0.0%0.0%5.9K$239KHeldQ1 201448$49.74est.$40.73−18%History
UNHUnitedHealth Group IncHealth care0.0%0.0%719$237KAdded +1%Q3 20252$328.69est.$330.11+0%History
COPConocoPhillipsEnergy0.0%0.0%2.5K$237KTrimmed −24%Q2 202119$56.94est.$93.61+64%History
DGXQuest Diagnostics IncHealth care0.0%0.0%1.3K$226KHeldQ3 202022$116.46est.$173.53+49%History
CFGCitizens Financial GroupFinancials0.0%0.0%3.8K$222KHeldQ3 20252$48.95est.$58.41+19%History
METAMeta Platforms, IncInformation technology0.0%0.0%336$222KHeldQ2 20253$657.23est.$660.09+0%History
CVXChevron CorpEnergy0.0%0.0%1.4K$206KHeldQ3 20252$149.24est.$152.41+2%History
III

Portfolio Map: Size Is Weight, Colour Is Gain or Loss against Cost

How to Read This

Each block is a company (up to 60); area = portfolio weight. The darker the colour, the further the quarter-end price is above (or below) the estimated cost: light 5–25%, medium 25–100%, darkest over 100%; grey is within 5%.

above costbelow costwithin 5%
Portfolio MapBRK.BBerkshire Hathaway IncGoogle LLCBNBrookfield CorpMKLMarkel Group IncAERAerCap Holdings N.VFCNCAFirst Citizens Ba…SIRISirius XM Holding…DISWalt Disney CoLKQLKQ CorpHSYHershey CoJEFJefferies Fi…Cimpress…W
IV

Over Time

From Q1 1999, 107 quarters (this giant’s electronic 13F filings).

13F Value

13F Value$0$500.0M$1.0B$1.5BQ1 1999Q4 2001Q4 2004Q3 2007Q2 2010Q1 2013Q4 2015Q3 2018Q2 2021Q4 2025

Holdings

Holdings0204060Q1 1999Q4 2001Q4 2004Q3 2007Q2 2010Q1 2013Q4 2015Q3 2018Q2 2021Q4 2025

Top-10 Concentration

Top-10 Concentration0%25%50%75%100%Q1 1999Q4 2001Q4 2004Q3 2007Q2 2010Q1 2013Q4 2015Q3 2018Q2 2021Q4 2025

Turnover (Est.)

Turnover0%10%20%Q1 1999Q4 2001Q4 2004Q3 2007Q2 2010Q1 2013Q4 2015Q3 2018Q2 2021Q4 2025

Sector Mix

Information technologyFinancialsCommunication & mediaConsumer discretionaryIndustrialsHealth careEnergyOther (incl. unclassified)
Sector Mix0%25%50%75%100%Q1 1999Q4 2001Q4 2004Q3 2007Q2 2010Q1 2013Q4 2015Q3 2018Q2 2021Q4 2025
V

Quarter by Quarter, with the Original Filings

* = not counted in that quarter’s totals. Links open the original SEC filing; 13F-HR/A is an amendment.

Show 107 Quarters
QuarterHoldingsNewSold out13F valueTurnoverNet deploymentSEC
Q4 20255022$1.7B4.8%−0.3%13F-HR
Q3 20255032$1.6B1.6%−0.8%13F-HR
Q2 20254912$1.5B0.4%−2.5%13F-HR
Q1 2025 *5014$1.5B0.7%−0.9%13F-HR
Q4 2024 *5352$1.5B1.3%+5.0%13F-HR
Q3 2024 *5043$1.4B0.4%−3.7%13F-HR
Q2 2024 *4911$1.4B1.5%+0.9%13F-HR
Q1 2024 *4951$1.4B2.8%−3.8%13F-HR
Q4 2023 *4522$1.3B1.2%+0.9%13F-HR
Q3 2023 *4550$1.2B2.1%−1.4%13F-HR 13F-HR/A
Q2 2023 *4021$1.2B1.5%−0.8%13F-HR 13F-HR/A
Q1 2023 *3921$1.1B2.7%+8.0%13F-HR 13F-HR/A
Q4 2022 *3834$985.8M4.4%−2.1%13F-HR 13F-HR/A
Q3 20223924$926.7M1.1%+0.9%13F-HR
Q2 20224115$1.0B0.4%−2.5%13F-HR
Q1 20224523$1.3B0.6%−0.7%13F-HR
Q4 20214624$1.3B0.7%+2.0%13F-HR
Q3 20214814$1.2B1.9%−0.7%13F-HR
Q2 20215131$1.2B6.4%−3.1%13F-HR
Q1 20214970$1.2B4.8%+0.8%13F-HR
Q4 20204221$988.2M1.8%−2.1%13F-HR
Q3 20204154$891.3M6.1%+3.7%13F-HR
Q2 20204044$787.4M0.1%−13.1%13F-HR
Q1 202040511$794.0M7.9%+0.2%13F-HR
Q4 20194634$1.1B4.2%−3.3%13F-HR
Q3 20194712$1.1B2.8%−5.0%13F-HR
Q2 20194821$1.2B6.2%−2.1%13F-HR
Q1 20194715$1.1B1.2%−5.3%13F-HR
Q4 20185138$1.1B7.7%+3.8%13F-HR
Q3 20185624$1.3B4.3%−5.6%13F-HR
Q2 20185833$1.3B5.4%+1.1%13F-HR
Q1 20185872$1.3B13.9%+1.5%13F-HR
Q4 20175347$1.3B7.7%−1.1%13F-HR
Q3 20175653$1.2B5.3%+2.0%13F-HR 13F-HR/A
Q2 20175472$1.2B3.5%+6.7%13F-HR
Q1 20174959$1.1B13.9%+7.5%13F-HR
Q4 20165395$995.6M4.3%−7.5%13F-HR
Q3 20164921$1.0B4.9%−1.2%13F-HR
Q2 20164834$994.5M1.7%+2.4%13F-HR
Q1 20164966$945.4M5.5%+4.5%13F-HR
Q4 20154966$870.8M7.5%−1.5%13F-HR
Q3 20154932$864.9M1.2%+1.6%13F-HR
Q2 201548310$897.3M5.7%+0.0%13F-HR
Q1 20155569$921.0M7.0%+5.0%13F-HR
Q4 201458510$899.3M9.2%+2.3%13F-HR
Q3 20146392$843.9M7.9%+0.9%13F-HR
Q2 20145684$817.3M3.6%+2.0%13F-HR
Q1 20145293$785.9M0.7%+14.6%13F-HR
Q4 20134656$661.3M5.2%+0.8%13F-HR
Q3 20134764$614.6M6.8%+2.4%13F-HR
Q2 20134537$590.1M7.8%+3.2%13F-HR 13F-HR/A
Q1 2013491212$544.8M8.7%+4.1%13F-HR 13F-HR/A
Q4 20124990$473.5M7.2%+11.2%13F-HR 13F-HR/A
Q3 201240171$428.1M9.0%+2.5%13F-HR 13F-HR/A
Q2 20122401$395.0M0.6%+4.4%13F-HR
Q1 20122522$375.9M8.3%−0.8%13F-HR
Q4 20112500$351.0M4.8%+1.9%13F-HR
Q3 20112522$315.7M8.2%+0.4%13F-HR
Q2 20112505$348.7M2.1%−1.2%13F-HR
Q1 20113020$355.2M4.4%+0.8%13F-HR
Q4 20102801$344.4M2.5%+3.9%13F-HR
Q3 20102900$319.3M1.4%+3.1%13F-HR
Q2 20102901$286.2M1.3%+0.9%13F-HR
Q1 20103012$313.3M1.0%+38.8%13F-HR
Q4 20093123$216.9M11.4%−17.9%13F-HR
Q3 20093266$247.1M10.1%−5.4%13F-HR
Q2 20093214$227.7M10.6%−1.0%13F-HR
Q1 20093544$198.3M6.9%−12.1%13F-HR
Q4 20083561$268.8M2.9%−0.5%13F-HR
Q3 20083044$359.5M13.7%−6.7%13F-HR
Q2 20083031$378.0M4.4%−2.3%13F-HR
Q1 20082874$420.0M9.7%−2.0%13F-HR
Q4 20072535$479.2M15.3%−2.8%13F-HR
Q3 20072734$491.8M6.8%+11.0%13F-HR
Q2 20072834$452.4M5.0%−11.5%13F-HR
Q1 20072924$491.0M13.7%−0.2%13F-HR 13F-HR/A 13F-HR/A
Q4 20063122$497.7M2.7%−1.3%13F-HR
Q3 20063175$464.4M12.7%+3.9%13F-HR 13F-HR/A
Q2 20062973$453.0M7.7%+6.3%13F-HR
Q1 2006 *2547$430.3M11.9%+5.3%13F-HR/A
Q4 2005 *28811$400.4M17.2%−7.4%13F-HR 13F-HR/A
Q3 2005 *3196$417.8M19.4%+10.5%13F-HR/A
Q2 2005 *2878$382.4M18.0%−1.9%13F-HR
Q1 2005 *2967$382.4M11.2%+41.2%13F-HR
Q4 2004 *3038$281.9M6.8%−32.6%13F-HR 13F-HR/A 13F-HR/A
Q3 2004 *3500$395.4M——13F-HR
Q1 200433114$371.2M10.1%+24.5%13F-HR 13F-HR 13F-HR 13F-HR
Q4 20032625$293.8M16.2%−1.6%13F-HR
Q3 20032954$273.6M11.5%+23.9%13F-HR
Q2 200328211$214.0M19.3%−1.5%13F-HR
Q1 20033794$194.3M15.3%+3.3%13F-HR
Q4 200232105$198.3M13.2%+2.6%13F-HR
Q3 200227102$186.7M6.3%+13.5%13F-HR
Q2 20021940$202.6M0.0%+26.1%13F-HR
Q1 20021525$176.1M19.8%+2.2%13F-HR
Q4 20011847$167.8M25.7%−0.8%13F-HR
Q3 20012173$155.4M9.9%+67.6%13F-HR
Q2 20011748$101.7M23.5%−7.9%13F-HR
Q1 20012156$102.0M22.3%+12.2%13F-HR
Q4 2000 *2256$91.2M28.1%−9.9%13F-HR
Q3 2000 *2365$91.6M15.7%+11.4%13F-HR
Q2 2000 *2265$73.0M19.0%−12.6%13F-HR
Q1 20002155$90.6M19.2%−15.3%13F-HR
Q4 19992141$100.2M8.9%−16.7%13F-HR
Q3 19991807$120.4M8.7%−24.5%13F-HR
Q2 19992542$233.4M20.3%−0.6%13F-HR
Q1 19992300$212.1M——13F-HR
VI

Large Positions Sold Out

Positions that once made up 2% or more of the portfolio and were later sold out (latest 40): holding period and what became of the company, without profit or loss.

How to Read This

Sold out means the holding no longer appears on the 13F: it may have been sold, or the company was acquired or delisted. Company status is checked only for companies the giants together once held $100M or more of, from the company’s own SEC filings (for example 8-K item 1.03 = bankruptcy filing); a dash means not checked.

CompanyHeldPeak weightCompany since
VZVerizon Communications IncQ1 2014 – Q2 20267%—
KMXCarMax IncQ1 2018 – Q4 20256%—
SUSuncor Energy IncQ1 2014 – Q3 20257%—
BFHBread Financial Holdings, IncQ1 2018 – Q2 20235%—
AAPAdvance Auto Parts IncQ1 2020 – Q1 20234%—
QSRRestaurant Brands International IncQ3 2020 – Q4 20225%—
HBIHanesbrands IncQ3 2016 – Q4 20225%—
QCOMQualcomm IncQ1 2013 – Q3 20226%—
USBUS BancorpQ4 2013 – Q1 20224%—
INGRIngredion IncQ2 2014 – Q4 20215%—
JNJJohnson & JohnsonQ2 2007 – Q3 20216%—
OSKOshkosh CorpQ1 2020 – Q2 20213%—
AXPAmerican Express CoQ4 2014 – Q3 20206%—
TROWT. Rowe Price GroupQ4 2018 – Q2 20205%—
—Spectrum Brands Legacy IncQ4 2015 – Q1 20204%—
ANAutoNation IncQ3 2017 – Q1 20203%—
PROSYProsus NVQ3 2019 – Q1 20202%—
AZOAutoZone IncQ2 2017 – Q4 20194%—
—Naspers LimitedQ3 2018 – Q4 20193%—
WBAWalgreens Boots Alliance IncQ4 2017 – Q4 20193%Acquired or delisted Sep 8, 2025
IBMInternational Business Machines CorpQ4 2012 – Q1 20199%—
ABTAbbott LaboratoriesQ1 2009 – Q1 20196%—
CMGChipotle Mexican Grill IncQ3 2017 – Q1 20193%Still filing with the SEC
ESRXEvernorth Health IncQ3 2014 – Q4 20185%Acquired or delisted Dec 31, 2018
—Laboratory CRP of Amer HoldingsQ1 2016 – Q4 20184%Still filing with the SEC
—General Electric CoQ1 2018 – Q4 20182%Still filing with the SEC
—Wyndham Worldwide Corp ComQ2 2016 – Q2 20184%—
AFLAflac IncQ3 2004 – Q1 20189%Still filing with the SEC
WMTWalmart IncQ1 2005 – Q4 20178%—
CTSHCognizant Technology SolutionsQ1 2017 – Q4 20173%—
ORCLOracle CorpQ1 2012 – Q4 20164%—
ACNAccenture plcQ1 2014 – Q4 20162%—
MCDMcDonald’s CorpQ1 2009 – Q2 20166%—
PCPPrecision Castparts CorpQ1 2015 – Q1 20164%Acquired or delisted Feb 11, 2016
PEPPepsiCo IncQ4 2008 – Q2 20156%—
KOCoca-Cola CoQ4 2008 – Q2 20154%—
—DirectvQ4 2012 – Q2 20154%Acquired or delisted Nov 9, 2015
BBBYQ20230930-DK-BUTTERFLY-1 IncQ1 2013 – Q2 20153%Bankruptcy filing while held or within 2 years of the sale Apr 24, 2023
PGProcter & Gamble CoQ1 2009 – Q1 20155%—
FISVFiserv IncQ1 2005 – Q1 20154%—