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 |
FedEx
FDX
|
+$36.5M |
| 2 |
Spectrum Brands
SPB
|
+$18.9M |
| 3 |
Verizon
VZ
|
+$3.58M |
| 4 |
US Bancorp
USB
|
+$2.13M |
| 5 |
Johnson & Johnson
JNJ
|
+$1.99M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Markel Group
MKL
|
+$22.9M |
| 2 |
McDonald's
MCD
|
+$19.6M |
| 3 |
Accenture
ACN
|
+$18.5M |
| 4 |
Wells Fargo
WFC
|
+$4.88M |
| 5 |
IBM
IBM
|
+$2.15M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 44.02% |
| 2 | Technology | 11.04% |
| 3 | Industrials | 8.09% |
| 4 | Consumer Staples | 5.76% |
| 5 | Communication Services | 5.74% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1
Berkshire Hathaway Class B
BRK.B
$1.06T
| $265M | 25.3% |
2,003,867
-12,324
| -0.6% | -$1.65M |
|
|
2
CALL
Berkshire Hathaway Class B
BRK.B
$1.06T
| $173M | 16.57% |
1,312,700
+112,200
| +9% | +$15.1M |
|
|
3
Wells Fargo
WFC
$254B
| $89M | 8.51% |
1,638,030
-89,876
| -5% | -$4.88M |
|
|
4
Verizon
VZ
$205B
| $59M | 5.64% |
1,276,670
+78,830
| +7% | +$3.58M |
|
|
5
IBM
IBM
$222B
| $52.7M | 5.04% |
400,884
-16,014
| -4% | -$2.15M |
|
6
Aflac
AFL
$58.2B
| $44.4M | 4.24% |
1,481,384
+4,222
| +0.3% | +$131K |
|
|
PCP
7
DELISTED
PRECISION CASTPARTS CORP
PCP
| $35.3M | 3.38% |
152,317
-8,718
| -5% | -$2.02M |
|
|
8
FedEx
FDX
$76.9B
| $35.2M | 3.36% |
+236,176
| New | +$36.5M |
|
|
ESRX
9
DELISTED
Express Scripts Holding Company
ESRX
| $34.5M | 3.3% |
394,400
+4,260
| +1% | +$365K |
|
10
Ingredion
INGR
$6.74B
| $30.9M | 2.96% |
322,472
-2,256
| -0.7% | -$214K |
|
11
American Express
AXP
$227B
| $30.9M | 2.95% |
443,771
-16,639
| -4% | -$1.21M |
|
12
Qualcomm
QCOM
$169B
| $28.4M | 2.72% |
568,149
-7,392
| -1% | -$394K |
|
13
Suncor Energy
SU
$80B
| $28.3M | 2.71% |
1,097,215
+8,071
| +0.7% | +$223K |
|
14
Oracle
ORCL
$422B
| $26M | 2.48% |
710,474
-47,181
| -6% | -$1.8M |
|
|
15
Spectrum Brands
SPB
$2B
| $20.1M | 1.92% |
+197,709
| New | +$18.9M |
|
|
16
US Bancorp
USB
$96.7B
| $17.6M | 1.68% |
412,524
+49,809
| +14% | +$2.13M |
|
|
17
Johnson & Johnson
JNJ
$651B
| $16.1M | 1.54% |
156,488
+19,835
| +15% | +$1.99M |
|
18
Emerson Electric
EMR
$87.7B
| $11.8M | 1.13% |
246,356
-25,100
| -9% | -$1.19M |
|
|
19
Berkshire Hathaway Class A
BRK.A
$1.06T
| $9.89M | 0.95% |
50
-2
| -4% | -$403K |
|
20
Walmart Inc
WMT
$825B
| $8.99M | 0.86% |
439,863
-4,296
| -1% | -$86.2K |
|
21
Microsoft
MSFT
$3.59T
| $4.89M | 0.47% |
88,181
+869
| +1% | +$45.7K |
|
22
Harley-Davidson
HOG
$2.93B
| $4.73M | 0.45% |
104,298
-9,991
| -9% | -$492K |
|
|
23
Markel Group
MKL
$22.2B
| $2.69M | 0.26% |
3,046
-26,291
| -90% | -$22.9M |
|
24
Abbott
ABT
$202B
| $2.43M | 0.23% |
54,167
-4,115
| -7% | -$182K |
|
|
25
CALL
IBM
IBM
$222B
| $1.5M | 0.14% |
11,401
-1,151
| -9% | -$155K |
|
Similar funds
Steven Check's Q4 2015 Portfolio in Review
As of Q4 2015, Steven Check held 57 positions worth $1.05B, up 2.2% from $1.02B the previous quarter. Its ten largest holdings account for 78% of the portfolio.
Steven Check's Q4 2015 filing shows 5 new, 13 increased, 24 reduced and 5 closed positions. Its largest new stake was FedEx: 236,176 shares worth $35.2M. The largest sale was Markel Group, an estimated $22.9M.
By sector, the portfolio is most concentrated in Financials at 44% of assets, down from 47% a quarter earlier, followed by Technology and Industrials.
- Steven Check's largest Q4 2015 buy was FedEx: 236,176 shares worth $35.2M.
- Steven Check added most to Verizon in Q4 2015, an estimated $3.58M increase.
- Steven Check's biggest Q4 2015 reduction was Markel Group, cutting an estimated $22.9M.
- Steven Check fully exited UnitedHealth in Q4 2015, selling an estimated $452K.
- Steven Check's ten largest holdings make up 78% of its $1.05B portfolio in Q4 2015.
- Steven Check opened 5 new positions and closed 5 in Q4 2015.
- Steven Check's portfolio value rose 2.2% quarter-over-quarter to $1.05B.
Based on Check Capital Management's 13F filing for Q4 2015, filed 15 Jan 2016.