Steven Check Check Capital Management
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.
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
CarMax
KMX
|
+$9.21M |
| 2 |
Spectrum Brands
SPB
|
+$8.02M |
| 3 |
HBI
Hanesbrands
HBI
|
+$6.35M |
| 4 |
ESRX
Express Scripts Holding Company
ESRX
|
+$5.81M |
| 5 |
Travel + Leisure Co
TNL
|
+$3.41M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Aflac
AFL
|
+$32.5M |
| 2 |
Berkshire Hathaway Class B
BRK.B
|
+$32.4M |
| 3 |
US Bancorp
USB
|
+$26.6M |
| 4 |
Johnson & Johnson
JNJ
|
+$4.26M |
| 5 |
IBM
IBM
|
+$3.4M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 37.04% |
| 2 | Technology | 7.48% |
| 3 | Consumer Discretionary | 6.56% |
| 4 | Consumer Staples | 5.7% |
| 5 | Healthcare | 5.34% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
26
Apple
AAPL
$4.51T
| $1.43M | 0.11% |
49,372
-1,212
| -2% | -$34.4K |
|
27
Fastenal
FAST
$58.8B
| $1.33M | 0.1% |
112,880
+39,572
| +54% | +$434K |
|
28
Microsoft
MSFT
$3.59T
| $1.2M | 0.09% |
19,244
-43,032
| -69% | -$2.59M |
|
|
29
Johnson & Johnson
JNJ
$651B
| $1.16M | 0.09% |
10,086
-36,875
| -79% | -$4.26M |
|
30
Chevron
CVX
$403B
| $951K | 0.07% |
8,081
-446
| -5% | -$48.6K |
|
31
Markel Group
MKL
$22.2B
| $624K | 0.05% |
690
+33
| +5% | +$29.4K |
|
32
Methode Electronics
MEI
$507M
| $620K | 0.05% |
15,000
-800
| -5% | -$29.3K |
|
33
Biglari Holdings Class B
BH
$1.24B
| $581K | 0.04% |
1,842
+112
| +6% | +$33.9K |
|
34
Amgen
AMGN
$238B
| $520K | 0.04% |
3,558
+1,908
| +116% | +$287K |
|
35
CALL
Qualcomm
QCOM
$169B
| $515K | 0.04% |
7,900
| – | – |
|
36
Goldman Sachs
GS
$303B
| $499K | 0.04% |
+2,084
| New | +$423K |
|
37
Annaly Capital Management
NLY
$17.5B
| $479K | 0.04% |
+11,999
| New | +$488K |
|
38
Halliburton
HAL
$29.4B
| $457K | 0.03% |
8,451
-300
| -3% | -$15K |
|
39
AB InBev
BUD
$155B
| $451K | 0.03% |
+4,281
| New | +$480K |
|
40
Jefferies Financial Group
JEF
$12.1B
| $424K | 0.03% |
20,388
+1,676
| +9% | +$31.3K |
|
41
CSX Corp
CSX
$95.6B
| $386K | 0.03% |
32,268
-55,200
| -63% | -$619K |
|
42
AT&T
T
$173B
| $373K | 0.03% |
11,615
-3,942
| -25% | -$116K |
|
43
ConocoPhillips
COP
$162B
| $361K | 0.03% |
7,200
+100
| +1% | +$4.61K |
|
44
GE Aerospace
GE
$361B
| $353K | 0.03% |
2,331
-228
| -9% | -$33.1K |
|
|
SGI
45
Somnigroup International
SGI
$13.6B
| $309K | 0.02% |
+18,116
| New | +$271K |
|
46
Corning
GLW
$129B
| $275K | 0.02% |
11,348
-4,741
| -29% | -$113K |
|
|
ESV
47
DELISTED
Ensco Rowan plc
ESV
| $253K | 0.02% |
6,509
+25
| +0.4% | +$896 |
|
48
Bank of America
BAC
$431B
| $249K | 0.02% |
11,281
+907
| +9% | +$17.5K |
|
49
Citigroup
C
$221B
| $246K | 0.02% |
+4,134
| New | +$223K |
|
50
State Street SPDR S&P Regional Banking ETF
KRE
$4.5B
| $222K | 0.02% |
+4,000
| New | +$196K |
|
Similar funds
Steven Check's Q4 2016 Portfolio in Review
As of Q4 2016, Steven Check held 62 positions worth $1.31B, up 2.5% from $1.28B the previous quarter. Its ten largest holdings account for 80% of the portfolio.
Steven Check withdrew a net $74.1M in Q4 2016, closing 7 positions and reducing 23 holdings. Its most notable exit was Accenture, an estimated $880K position sold in full.
By sector, the portfolio is most concentrated in Financials at 37% of assets, down from 40% a quarter earlier, followed by Technology and Consumer Discretionary.
Against the trend, Steven Check opened a new position in CarMax worth $10.6M.
- Steven Check's largest Q4 2016 buy was CarMax: 164,152 shares worth $10.6M.
- Steven Check added most to Spectrum Brands in Q4 2016, an estimated $8.02M increase.
- Steven Check's biggest Q4 2016 reduction was Aflac, cutting an estimated $32.5M.
- Steven Check fully exited Accenture in Q4 2016, selling an estimated $880K.
- Steven Check's ten largest holdings make up 80% of its $1.31B portfolio in Q4 2016.
- Steven Check opened 9 new positions and closed 7 in Q4 2016.
- Steven Check's portfolio value rose 2.5% quarter-over-quarter to $1.31B.
Based on Check Capital Management's 13F filing for Q4 2016, filed 27 Jan 2017.