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 |
US Bancorp
USB
|
+$8.66M |
| 2 |
Bread Financial
BFH
|
+$644K |
| 3 |
Walt Disney
DIS
|
+$502K |
| 4 |
LKQ Corp
LKQ
|
+$371K |
| 5 |
State Street SPDR S&P 500 ETF Trust
SPY
|
+$350K |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
IBM
IBM
|
+$23.1M |
| 2 |
Berkshire Hathaway Class A
BRK.A
|
+$15.1M |
| 3 |
Brookfield
BN
|
+$5.59M |
| 4 |
Berkshire Hathaway Class B
BRK.B
|
+$4.54M |
| 5 |
Qualcomm
QCOM
|
+$4.2M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 32.85% |
| 2 | Consumer Discretionary | 10.12% |
| 3 | Consumer Staples | 3.91% |
| 4 | Industrials | 3.05% |
| 5 | Energy | 2.85% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
26
Starbucks
SBUX
$122B
| $2.07M | 0.11% |
27,800
-1,700
| -6% | -$117K |
|
27
AutoZone
AZO
$48.3B
| $926K | 0.05% |
904
-2,424
| -73% | -$2.18M |
|
28
Amgen
AMGN
$238B
| $861K | 0.05% |
4,532
-88
| -2% | -$16.8K |
|
29
Biglari Holdings Class A
BH.A
$1.24B
| $859K | 0.05% |
1,168
+145
| +14% | +$97.1K |
|
30
Trupanion
TRUP
$1.36B
| $857K | 0.05% |
26,175
+2,850
| +12% | +$81.1K |
|
31
Microsoft
MSFT
$3.59T
| $807K | 0.04% |
6,842
-1,725
| -20% | -$188K |
|
32
Markel Group
MKL
$22.2B
| $737K | 0.04% |
740
+100
| +16% | +$102K |
|
|
33
State Street SPDR S&P 500 ETF Trust
SPY
$809B
| $700K | 0.04% |
2,480
+1,290
| +108% | +$350K |
|
34
Goldman Sachs
GS
$303B
| $447K | 0.02% |
2,330
| – | – |
|
35
iShares Future Exponential Technologies ETF
XT
$3.97B
| $425K | 0.02% |
11,200
| – | – |
|
36
Chevron
CVX
$403B
| $385K | 0.02% |
3,127
| – | – |
|
37
Bank of America
BAC
$431B
| $314K | 0.02% |
11,394
| – | – |
|
38
Caterpillar
CAT
$381B
| $294K | 0.02% |
2,170
| – | – |
|
39
Fastenal
FAST
$58.8B
| $285K | 0.02% |
17,720
-180,800
| -91% | -$2.72M |
|
40
Citizens Financial Group
CFG
$29.4B
| $276K | 0.01% |
8,500
| – | – |
|
41
Pembina Pipeline
PBA
$28.3B
| $254K | 0.01% |
6,900
| – | – |
|
42
Corning
GLW
$129B
| $253K | 0.01% |
7,650
| – | – |
|
43
Citigroup
C
$221B
| $243K | 0.01% |
3,900
| – | – |
|
44
ConocoPhillips
COP
$162B
| $241K | 0.01% |
3,604
| – | – |
|
45
Winnebago Industries
WGO
$898M
| $227K | 0.01% |
+7,300
| New | +$219K |
|
|
ESV
46
DELISTED
Ensco Rowan plc
ESV
| $135K | 0.01% |
8,606
| – | – |
|
47
Abbott
ABT
$202B
| – | – |
-39,850
| Closed | -$2.88M |
|
48
Amazon
AMZN
$2.79T
| – | – |
-3,000
| Closed | -$225K |
|
49
Chipotle Mexican Grill
CMG
$46.7B
| – | – |
-71,250
| Closed | -$615K |
|
|
50
IBM
IBM
$222B
| – | – |
-212,244
| Closed | -$23.1M |
|
Similar funds
Steven Check's Q1 2019 Portfolio in Review
As of Q1 2019, Steven Check held 53 positions worth $1.89B, up 1.7% from $1.86B the previous quarter. Its ten largest holdings account for 78% of the portfolio.
Steven Check's Q1 2019 filing shows 1 new, 14 increased, 21 reduced and 5 closed positions. Its largest new stake was Winnebago Industries: 7,300 shares worth $227K. The largest sale was IBM, an estimated $23.1M.
By sector, the portfolio is most concentrated in Financials at 33% of assets, up from 32% a quarter earlier, followed by Consumer Discretionary and Consumer Staples.
- Steven Check's largest Q1 2019 buy was Winnebago Industries: 7,300 shares worth $227K.
- Steven Check added most to US Bancorp in Q1 2019, an estimated $8.66M increase.
- Steven Check's biggest Q1 2019 reduction was Berkshire Hathaway Class A, cutting an estimated $15.1M.
- Steven Check fully exited IBM in Q1 2019, selling an estimated $23.1M.
- Steven Check's ten largest holdings make up 78% of its $1.89B portfolio in Q1 2019.
- Steven Check opened 1 new position and closed 5 in Q1 2019.
- Steven Check's portfolio value rose 1.7% quarter-over-quarter to $1.89B.
Based on Check Capital Management's 13F filing for Q1 2019, filed 6 May 2019.