CCM Overview

Founded by Steven Check in 1987, Check Capital Management is an award-winning asset management firm that’s based in Southern California and serves clients throughout the U.S. CCM has developed long-term, productive relationships with these investors by helping them to protect and grow their assets.

Never forgetting that the firm handles other people’s money (as well as its own), Check Capital has a culture of avoiding losses. Therefore, its investment philosophy centers around owning shares of exceptional businesses — but only when those companies are selling at bargain prices.

Profit-Based Fee

Often investors say, “Find me a money manager that only makes money when I make money.” Check Capital offers a management fee choice that addresses this statement. Our fee is 10% of the account profits, with no minimum fee. This arrangement is available only to “Qualified Clients” (see the FAQ section).

The vast majority of our clients have elected to pay us a profit-based fee rather than a fee based simply on account size.

Client Testimonials

Customer satisfaction is a primary goal for our company. To that end, we are passionate about meeting and surpassing the expectations of our varied clientele. But don’t take our word for it, read what our customers have to say.

Check looks to invest in companies with solid fundamentals, valuing them, buying and selling them, according to their worth rather than day to day dynamics of the markets. Read More

“Check looks to invest in companies with solid fundamentals, valuing them, buying and selling them, according to their worth rather than day to day dynamics of the markets. In this regard Check’s value-investment style complements my outlook. Their research into what to buy, when to buy, when to sell, is solid. Complementing this, in my retirement situation, Check's Two-Bucket Approach, balanced for my risk tolerance, has performed well for me allowing me to sleep comfortably at night. I use their offered pay per performance, rather than the more traditional 1% of portfolio value - come win or lose. Another better value for me! For me Check has been an excellent fit and so have stayed the course with them for 8 years. The product, the people and their service, all point to Check as a mature and well-managed company. If you feel your portfolio is in need of a little care and attention, give them a call.”
Mike D., Check Capital Client

After 25 years of hard work, prudence, and the creation of my wealth, I decided to share the responsibility of protecting and nurturing my investments. I found Steve Check. Read More

"After 25 years of hard work, prudence, and the creation of my wealth, I decided to share the responsibility of protecting and nurturing my investments. I found Steve Check. He and those who work with him strive to emulate the single word used to describe Charlie Munger's success..."Rational". He and his staff are professional, responsive, and give the personal touch at every turn. Rational value investing is what you get with Steve that allows for sound sleep and a confident future."

Rob G., Check Capital Client

What attracted me to Check Capital five years ago was its strategy of finding and investing for the long term in a manageable number of well run, well established companies available at attractive share prices.Read More

“What attracted me to Check Capital five years ago was its strategy of finding and investing for the long term in a manageable number of well run, well established companies available at attractive share prices. It is an investment strategy I learned and embraced as President of a small individual investors club I helped start about 30 years ago. I became a client of Check Capital just after retiring, still convinced this approach provided a comfortable balance of risk and reward. My trust in Check Capital and its approach has been validated through the impressive growth in the value of my account, despite the market ups and downs since then. I appreciate the competency and friendliness of the staff at Check Capital and your frequent outreach to keep me informed through the monthly newsletters and annual meetings. I like having the option of tying the management fee to the actual performance of my account. I honestly feel you and the Check Capital team are managing my financial nest egg with the same care and diligence you would use for managing your own money.”

Jim H., Check Capital Client

In my eight years with Check Capital, I have enjoyed financial peace of mind. I feel confident my accounts are being managed with professional expertise and personal attention. Read More

“In my eight years with Check Capital, I have enjoyed financial peace of mind. I feel confident my accounts are being managed with professional expertise and personal attention. Knowing I am appreciated as a client and that I am benefiting from Check Capital's experienced management is always reassuring.”

Marilynn P., Check Capital Client

My experience with Check Capital has been very positive in all respects. I like the investment philosophy, one that concentrates on a select number of stocks picking leading companiesRead More

“My experience with Check Capital has been very positive in all respects. I like the investment philosophy, one that concentrates on a select number of stocks picking leading companies in their respective fields and closely evaluating those companies for future growth. The staff has always been easy to deal with, and very professional. You personally are always good to work with.”

Al E., Check Capital Client

Check Capital are the guardians of our financial wellbeing. Their goals, as I see them, are to deliver their clients the best possible return on investment with the slightest amount of risk.Read More

“Check Capital are the guardians of our financial wellbeing. Their goals, as I see them, are to deliver their clients the best possible return on investment with the slightest amount of risk. Check Capital is a well-managed company focused on growth. I have experienced continued growth in my portfolio from the first year.”

John M., Check Capital Client

Having self-managed my portfolio for over 30 years, as it grew, I realized that I should diversify the managers of the portfolio, just as it’s well-known that everyone should diversify the investments themselves. Read More

“Having self-managed my portfolio for over 30 years, as it grew, I realized that I should diversify the managers of the portfolio, just as it’s well-known that everyone should diversify the investments themselves. I wanted a conservative, well-established manager that doesn’t trade frequently, does significant fundamental analysis on possible investments, and has an average client size within which I would fit nicely. I looked at several managers and Check stood out as fully meeting the criteria I had set, with the additional features that the firm is a devotee and significant investor in Berkshire, and that, in speaking with the firm’s leadership, it was clear to me that Check treats its customers like family and has a strong personal interest in ensuring its clients are fully satisfied with Check’s investment performance and customer service. My experience over the past 4+ years has lived up to my expectations, and getting to know Check’s leadership better over time has only increased my confidence in the firm.”

Mike G., Check Capital Client

Testimonials are from Check Capital clients (see Important Disclosures)

Frequently Asked Questions

How long have you been in business?

Check Capital Management (CCM) has been an SEC-registered investment advisor since 1987.

How much money do you manage and how many clients do you have?

As of December 31, 2022, CCM managed approximately $1.4 billion for 1092 clients.

Has your investment philosophy changed over the years?

While we continue to refine our methodology, CCM’s basic investment principles have never changed: We seek to buy the stocks of remarkable businesses at attractive prices. Most holdings in the Quality Growth Program are multinational companies with long operating histories. Furthermore, many of the stocks we own pay a dividend that has been raised consistently over a period of decades.

How many people work at Check Capital and what are their responsibilities?

Check Capital Management has 10 full-time employees. Steven Check and Ryan Kinney conduct research on companies being considered for investment. The eight other employees include a compliance officer/trader, five relationship officers, and two staff members who assist clients with a variety of administrative needs. For more about the people who comprise CCM, see “OUR TEAM” earlier in this section of the website.

How do you determine the proper allocation for my needs?

We begin by talking to you about your financial circumstances and preferences. Once those have been determined, we can create a complimentary retirement plan based on your specific needs and goals. CCM recommends you place the money that you wish to invest over the longer term in stocks. For near-term needs such as living expenses, bonds usually prove to be the best choice. As per our Two-Bucket Approach (see the “Investment Strategy” section of this website), we advise that you be careful in estimating your more immediate money requirements so as to avoid making stock investments that you’re forced to sell prematurely.

How do you deal with volatile, irrational markets, like those of 2020, 2008-2009, 2000-2002 and 1987?

CCM strives to help clients avoid permanent loss of capital. This is done by: 1) owning stocks of well-established, high-quality growth firms (“blue chips”), and 2) buying these stocks at a sensible time, i.e., when we believe they’re considerably underpriced. Although prices may fluctuate greatly during volatile markets, stocks eventually reflect the business prospects of the underlying companies. CCM maintains a consistent and logical approach during all phases of the investment cycle. Thus, regardless of “the state of the economy”, we only buy in response to diligent analysis and never sell in panic.

Where will my account be held and will I have online access?

Check Capital doesn’t serve as a custodian of client funds. Accounts are held at a major, independent stockbrokerage firm. (We can recommend one or you can specify the firm you prefer.) You retain full and immediate online access to your account(s).

If the profit-based fee requires being a “Qualified Client”, what is that?

The Securities and Exchange Commission defines Qualified Clients as a) those whose net worth is at least $2.2 million (exclusive of their equity in their primary residence), or b) clients who have at least $1.1 million with the investment manager.

CORPORATE OFFICE

Check Capital Management Inc.
575 Anton Boulevard, Suite 500
Costa Mesa, CA 92626-1925
Phone (714) 641-3579
Fax (714) 641-8128

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