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 |
Restaurant Brands International
QSR
|
+$41.5M |
| 2 |
Quest Diagnostics
DGX
|
+$20.5M |
| 3 |
Berkshire Hathaway Class B
BRK.B
|
+$9M |
| 4 |
Markel Group
MKL
|
+$1.44M |
| 5 |
Bank of America
BAC
|
+$396K |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
American Express
AXP
|
+$25.2M |
| 2 |
FedEx
FDX
|
+$17.1M |
| 3 |
Brookfield
BN
|
+$4.35M |
| 4 |
CarMax
KMX
|
+$3.19M |
| 5 |
LKQ Corp
LKQ
|
+$2.37M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 27.36% |
| 2 | Consumer Discretionary | 12.07% |
| 3 | Industrials | 4.97% |
| 4 | Communication Services | 3.87% |
| 5 | Consumer Staples | 1.41% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
26
Biglari Holdings Class A
BH.A
$1.24B
| $950K | 0.06% |
1,947
+456
| +31% | +$193K |
|
|
27
Bank of America
BAC
$431B
| $664K | 0.04% |
27,555
+15,905
| +137% | +$396K |
|
28
Wayfair
W
$13.9B
| $460K | 0.03% |
1,580
-138
| -8% | -$37.8K |
|
29
Qualcomm
QCOM
$169B
| $451K | 0.03% |
3,835
-600
| -14% | -$64.1K |
|
30
Goldman Sachs
GS
$303B
| $388K | 0.02% |
1,930
-400
| -17% | -$81.4K |
|
31
Amazon
AMZN
$2.79T
| $368K | 0.02% |
2,340
| – | – |
|
32
iShares Future Exponential Technologies ETF
XT
$3.97B
| $359K | 0.02% |
7,400
-800
| -10% | -$38.3K |
|
33
AB InBev
BUD
$155B
| $345K | 0.02% |
6,400
-400
| -6% | -$22.2K |
|
34
Fastenal
FAST
$58.8B
| $305K | 0.02% |
13,520
| – | – |
|
35
Caterpillar
CAT
$381B
| $276K | 0.02% |
1,850
-200
| -10% | -$28.1K |
|
36
State Street SPDR S&P 500 ETF Trust
SPY
$809B
| $268K | 0.02% |
800
| – | – |
|
37
Johnson & Johnson
JNJ
$651B
| $256K | 0.02% |
1,720
| – | – |
|
38
Tesla
TSLA
$1.43T
| $215K | 0.01% |
+1,500
| New | +$177K |
|
39
Illinois Tool Works
ITW
$80.4B
| $213K | 0.01% |
+1,100
| New | +$209K |
|
|
40
American Express
AXP
$227B
| – | – |
-265,091
| Closed | -$25.2M |
|
41
Citigroup
C
$221B
| – | – |
-3,935
| Closed | -$201K |
|
42
Chevron
CVX
$403B
| – | – |
-2,922
| Closed | -$261K |
|
43
GE Aerospace
GE
$361B
| – | – |
-2,310
| Closed | -$79K |
|
Similar funds
Steven Check's Q3 2020 Portfolio in Review
As of Q3 2020, Steven Check held 45 positions worth $1.64B, up 13% from $1.45B the previous quarter. Its ten largest holdings account for 87% of the portfolio.
Steven Check's Q3 2020 filing shows 4 new, 5 increased, 27 reduced and 4 closed positions. Its largest new stake was Restaurant Brands International: 743,700 shares worth $42.8M. The largest sale was American Express, an estimated $25.2M.
By sector, the portfolio is most concentrated in Financials at 27% of assets, down from 29% a quarter earlier, followed by Consumer Discretionary and Industrials.
- Steven Check's largest Q3 2020 buy was Restaurant Brands International: 743,700 shares worth $42.8M.
- Steven Check added most to Berkshire Hathaway Class B in Q3 2020, an estimated $9M increase.
- Steven Check's biggest Q3 2020 reduction was FedEx, cutting an estimated $17.1M.
- Steven Check fully exited American Express in Q3 2020, selling an estimated $25.2M.
- Steven Check's ten largest holdings make up 87% of its $1.64B portfolio in Q3 2020.
- Steven Check opened 4 new positions and closed 4 in Q3 2020.
- Steven Check's portfolio value rose 13% quarter-over-quarter to $1.64B.
Based on Check Capital Management's 13F filing for Q3 2020, filed 6 Nov 2020.