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Steven Check Check Capital Management
AUM
$7.52B
Turnover
12.96%
1-Year Est. Return
15.3%
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.
This Fund
S&P 500
This Quarter Est. Return
-2.59%
1 Year Est. Return
+15.3%
3 Year Est. Return
+66.62%
5 Year Est. Return
+84.34%
10 Year Est. Return
+232.1%
AUM
$1.06B
AUM Growth
-$111M
(-9.4%)
Cap. Flow
+$1.15M
Cap. Flow % of AUM
Cap. Flow %
0.11%
Top 10 Holdings %
Top 10 Hldgs %
78.14%
Holding
60
New
3
Increased
16
Reduced
17
Closed
9
Avg Time Held
Equity + Options
1.3
years
Top 10 Avg Time Held
Equity + Options
1.3
years
Top 20 Avg Time Held
Equity + Options
1.3
years
Avg Time Held Equity only
1.3
years
Top 10 Avg Time Held Equity only
1.3
years
Top 20 Avg Time Held Equity only
1.3
years
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
ESRX
Express Scripts Holding Company
ESRX
|
+$31.8M |
| 2 |
US Bancorp
USB
|
+$7.8M |
| 3 |
Harley-Davidson
HOG
|
+$6.89M |
| 4 |
Johnson & Johnson
JNJ
|
+$2.27M |
| 5 |
Walmart Inc
WMT
|
+$1.04M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
DTV
DIRECTV COM STK (DE)
DTV
|
+$28.8M |
| 2 |
Jefferies Financial Group
JEF
|
+$7.75M |
| 3 |
Berkshire Hathaway Class B
BRK.B
|
+$2.42M |
| 4 |
Wells Fargo
WFC
|
+$1.73M |
| 5 |
McDonald's
MCD
|
+$1.02M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 47.05% |
| 2 | Miscellaneous | 15.74% |
| 3 | Technology | 14.68% |
| 4 | Communication Services | 5.17% |
| 5 | Industrials | 4.47% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
|
1
Berkshire Hathaway Class B
BRK.B
$1.2T
| $271M | 25.48% |
1,992,058
-16,940
| -0.8% | -$2.42M |
2013 Q2
8 quarters
|
|
|
2
CALL
Berkshire Hathaway Class B
BRK.B
$1.2T
| $165M | 15.46% |
1,209,100
-535,500
| -31% | -$76.4M |
2013 Q2
8 quarters
|
|
|
3
Wells Fargo
WFC
$256B
| $99.4M | 9.34% |
1,767,209
-31,097
| -2% | -$1.73M |
2013 Q2
8 quarters
|
|
4
IBM
IBM
$236B
| $64.8M | 6.09% |
416,556
-5,292
| -1% | -$851K |
2013 Q2
8 quarters
|
|
5
Verizon
VZ
$187B
| $54.4M | 5.11% |
1,167,499
+2,933
| +0.3% | +$144K |
2014 Q1
5 quarters
|
|
6
Aflac
AFL
$62.8B
| $44.7M | 4.2% |
1,437,114
-16,182
| -1% | -$512K |
2013 Q2
8 quarters
|
|
7
American Express
AXP
$219B
| $34.8M | 3.27% |
447,880
-10,220
| -2% | -$811K |
2014 Q4
2 quarters
|
|
8
Qualcomm
QCOM
$175B
| $34.2M | 3.21% |
545,283
-10,739
| -2% | -$733K |
2013 Q2
8 quarters
|
|
|
ESRX
9
DELISTED
Express Scripts Holding Company
ESRX
| $33M | 3.1% |
370,510
+363,660
| +5,309% | +$31.8M |
2014 Q3
3 quarters
|
|
|
PCP
10
DELISTED
PRECISION CASTPARTS CORP
PCP
| $30.7M | 2.88% |
153,525
-3,295
| -2% | -$692K |
2015 Q1
1 quarter
|
|
11
Oracle
ORCL
$380B
| $30.6M | 2.87% |
758,840
-20,222
| -3% | -$877K |
2013 Q2
8 quarters
|
|
12
Suncor Energy
SU
$88.4B
| $29.2M | 2.74% |
1,059,715
-25,651
| -2% | -$775K |
2014 Q1
5 quarters
|
|
13
Ingredion
INGR
$6.18B
| $24.6M | 2.31% |
308,170
-2,843
| -0.9% | -$228K |
2014 Q2
4 quarters
|
|
14
Markel Group
MKL
$23.5B
| $22.9M | 2.15% |
28,548
+174
| +0.6% | +$135K |
2014 Q2
4 quarters
|
|
15
Accenture
ACN
$156B
| $20.7M | 1.94% |
213,700
-10,100
| -5% | -$965K |
2014 Q1
5 quarters
|
|
|
16
McDonald's
MCD
$186B
| $19.6M | 1.84% |
206,426
-10,501
| -5% | -$1.02M |
2013 Q2
8 quarters
|
|
|
17
US Bancorp
USB
$93.9B
| $15.9M | 1.49% |
365,483
+178,390
| +95% | +$7.8M |
2013 Q4
6 quarters
|
|
18
Emerson Electric
EMR
$92.8B
| $15.5M | 1.46% |
280,162
+156
| +0.1% | +$9.16K |
2015 Q1
1 quarter
|
|
19
Berkshire Hathaway Class A
BRK.A
$1.2T
| $10.9M | 1.02% |
53
| – | – |
2013 Q2
8 quarters
|
|
|
20
Walmart Inc
WMT
$996B
| $8.53M | 0.8% |
360,696
+40,815
| +13% | +$1.04M |
2013 Q2
8 quarters
|
|
|
21
Johnson & Johnson
JNJ
$649B
| $7.36M | 0.69% |
75,544
+22,630
| +43% | +$2.27M |
2013 Q2
8 quarters
|
|
|
22
Harley-Davidson
HOG
$3.5B
| $6.79M | 0.64% |
+120,424
| New | +$6.89M |
2015 Q2
0 quarters
|
|
23
Abbott
ABT
$191B
| $4.18M | 0.39% |
85,205
-11,570
| -12% | -$556K |
2013 Q2
8 quarters
|
|
24
Apple
AAPL
$4.83T
| $2.5M | 0.24% |
79,816
| – | – |
2013 Q2
8 quarters
|
|
|
25
CALL
IBM
IBM
$236B
| $2.28M | 0.21% |
14,644
| – | – |
2013 Q2
8 quarters
|
|
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Steven Check's Q2 2015 Portfolio in Review
As of Q2 2015, Steven Check held 60 positions worth $1.06B, down 9.4% from $1.18B the previous quarter. Its ten largest holdings account for 78% of the portfolio.
Steven Check's Q2 2015 filing shows 3 new, 16 increased, 17 reduced and 9 closed positions. Its largest new stake was Harley-Davidson: 120,424 shares worth $6.79M. The largest sale was DIRECTV COM STK (DE), an estimated $28.8M.
By sector, the portfolio is most concentrated in Financials at 47% of assets, up from 44% a quarter earlier, followed by Miscellaneous and Technology.
- Steven Check's largest Q2 2015 buy was Harley-Davidson: 120,424 shares worth $6.79M.
- Steven Check added most to Express Scripts Holding Company in Q2 2015, an estimated $31.8M increase.
- Steven Check's biggest Q2 2015 reduction was Jefferies Financial Group, cutting an estimated $7.75M.
- Steven Check fully exited DIRECTV COM STK (DE) in Q2 2015, selling an estimated $28.8M.
- Steven Check's ten largest holdings make up 78% of its $1.06B portfolio in Q2 2015.
- Steven Check opened 3 new positions and closed 9 in Q2 2015.
- Steven Check's portfolio value fell 9.4% quarter-over-quarter to $1.06B.
Based on Check Capital Management's 13F filing for Q2 2015, filed 12 Aug 2015.