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 |
Chevron
CVX
|
+$262K |
| 2 |
Wayfair
W
|
+$257K |
| 3 |
Citigroup
C
|
+$187K |
| 4 |
GE Aerospace
GE
|
+$77.9K |
| 5 |
Biglari Holdings Class A
BH.A
|
+$55.7K |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
T. Rowe Price
TROW
|
+$38.4M |
| 2 |
CarMax
KMX
|
+$15M |
| 3 |
Hyatt Hotels
H
|
+$11.1M |
| 4 |
Berkshire Hathaway Class B
BRK.B
|
+$8.75M |
| 5 |
American Express
AXP
|
+$5.25M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 29.41% |
| 2 | Consumer Discretionary | 10.09% |
| 3 | Industrials | 4.72% |
| 4 | Communication Services | 4.3% |
| 5 | Consumer Staples | 1.86% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
26
Goldman Sachs
GS
$303B
| $460K | 0.03% |
2,330
| – | – |
|
27
Qualcomm
QCOM
$169B
| $405K | 0.03% |
4,435
-145
| -3% | -$11.6K |
|
28
iShares Future Exponential Technologies ETF
XT
$3.97B
| $365K | 0.03% |
8,200
| – | – |
|
|
29
Wayfair
W
$13.9B
| $339K | 0.02% |
+1,718
| New | +$257K |
|
30
AB InBev
BUD
$155B
| $335K | 0.02% |
6,800
-1,800
| -21% | -$84.1K |
|
31
Amazon
AMZN
$2.79T
| $323K | 0.02% |
2,340
| – | – |
|
32
Fastenal
FAST
$58.8B
| $290K | 0.02% |
13,520
-2,100
| -13% | -$40.1K |
|
33
Bank of America
BAC
$431B
| $277K | 0.02% |
11,650
+140
| +1% | +$3.31K |
|
|
34
Chevron
CVX
$403B
| $261K | 0.02% |
+2,922
| New | +$262K |
|
35
Caterpillar
CAT
$381B
| $259K | 0.02% |
2,050
-60
| -3% | -$7.11K |
|
36
State Street SPDR S&P 500 ETF Trust
SPY
$809B
| $247K | 0.02% |
800
| – | – |
|
37
Johnson & Johnson
JNJ
$651B
| $242K | 0.02% |
1,720
| – | – |
|
|
38
Citigroup
C
$221B
| $201K | 0.01% |
+3,935
| New | +$187K |
|
|
39
GE Aerospace
GE
$361B
| $79K | 0.01% |
+2,310
| New | +$77.9K |
|
|
40
Hyatt Hotels
H
$17B
| – | – |
-231,576
| Closed | -$11.1M |
|
41
iShares Russell 2000 ETF
IWM
$81.9B
| – | – |
-3,180
| Closed | -$364K |
|
42
State Street SPDR S&P MIDCAP 400 ETF Trust
MDY
$26.9B
| – | – |
-1,050
| Closed | -$276K |
|
|
43
T. Rowe Price
TROW
$23.8B
| – | – |
-393,147
| Closed | -$38.4M |
|
Similar funds
Steven Check's Q2 2020 Portfolio in Review
As of Q2 2020, Steven Check held 45 positions worth $1.45B, down 4.5% from $1.52B the previous quarter. Its ten largest holdings account for 87% of the portfolio.
Steven Check withdrew a net $146M in Q2 2020, closing 4 positions and reducing 28 holdings. Its most notable exit was T. Rowe Price, an estimated $38.4M position sold in full.
By sector, the portfolio is most concentrated in Financials at 29% of assets, down from 31% a quarter earlier, followed by Consumer Discretionary and Industrials.
Against the trend, Steven Check opened a new position in Chevron worth $261K.
- Steven Check's largest Q2 2020 buy was Chevron: 2,922 shares worth $261K.
- Steven Check added most to Biglari Holdings Class A in Q2 2020, an estimated $55.7K increase.
- Steven Check's biggest Q2 2020 reduction was CarMax, cutting an estimated $15M.
- Steven Check fully exited T. Rowe Price in Q2 2020, selling an estimated $38.4M.
- Steven Check's ten largest holdings make up 87% of its $1.45B portfolio in Q2 2020.
- Steven Check opened 4 new positions and closed 4 in Q2 2020.
- Steven Check's portfolio value fell 4.5% quarter-over-quarter to $1.45B.
Based on Check Capital Management's 13F filing for Q2 2020, filed 12 Aug 2020.