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 |
HBI
Hanesbrands
HBI
|
+$29.5M |
| 2 |
Travel + Leisure Co
TNL
|
+$12.4M |
| 3 |
Phillips 66
PSX
|
+$2.12M |
| 4 |
ESRX
Express Scripts Holding Company
ESRX
|
+$1.77M |
| 5 |
US Bancorp
USB
|
+$1.02M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Oracle
ORCL
|
+$28.7M |
| 2 |
Aflac
AFL
|
+$10.9M |
| 3 |
Johnson & Johnson
JNJ
|
+$10.4M |
| 4 |
Walmart Inc
WMT
|
+$2.76M |
| 5 |
Berkshire Hathaway Class B
BRK.B
|
+$1.72M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 40.14% |
| 2 | Technology | 8.06% |
| 3 | Consumer Staples | 5.86% |
| 4 | Healthcare | 5.53% |
| 5 | Industrials | 5.5% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
1
Berkshire Hathaway Class B
BRK.B
$1.06T
| $317M | 24.75% |
2,193,630
-11,739
| -0.5% | -$1.72M |
|
|
2
CALL
Berkshire Hathaway Class B
BRK.B
$1.06T
| $279M | 21.78% |
1,929,800
+339,400
| +21% | +$49.6M |
|
3
Wells Fargo
WFC
$254B
| $70.6M | 5.52% |
1,595,450
+4,669
| +0.3% | +$223K |
|
4
Verizon
VZ
$205B
| $59.1M | 4.61% |
1,136,057
-26,150
| -2% | -$1.4M |
|
5
FedEx
FDX
$76.9B
| $56.8M | 4.44% |
325,162
+1,829
| +0.6% | +$299K |
|
6
IBM
IBM
$222B
| $55.1M | 4.3% |
362,666
-8,957
| -2% | -$1.36M |
|
|
7
Aflac
AFL
$58.2B
| $46.6M | 3.64% |
1,297,232
-298,292
| -19% | -$10.9M |
|
8
Qualcomm
QCOM
$169B
| $40.8M | 3.19% |
596,033
+14,532
| +2% | +$884K |
|
9
Ingredion
INGR
$6.74B
| $39.2M | 3.06% |
294,725
-9,116
| -3% | -$1.22M |
|
|
10
US Bancorp
USB
$96.7B
| $36.8M | 2.88% |
858,966
+23,905
| +3% | +$1.02M |
|
11
Suncor Energy
SU
$80B
| $31M | 2.42% |
1,117,406
+14,250
| +1% | +$389K |
|
12
American Express
AXP
$227B
| $31M | 2.42% |
484,116
+8,366
| +2% | +$537K |
|
13
Labcorp
LH
$27.3B
| $30.7M | 2.4% |
259,624
-1,909
| -0.7% | -$225K |
|
|
ESRX
14
DELISTED
Express Scripts Holding Company
ESRX
| $30.4M | 2.38% |
431,715
+23,665
| +6% | +$1.77M |
|
15
Spectrum Brands
SPB
$2B
| $28.8M | 2.25% |
209,233
-2,115
| -1% | -$269K |
|
|
HBI
16
DELISTED
Hanesbrands
HBI
| $28.3M | 2.21% |
+1,120,133
| New | +$29.5M |
|
|
17
Travel + Leisure Co
TNL
$4.39B
| $26M | 2.03% |
853,867
+387,698
| +83% | +$12.4M |
|
18
Emerson Electric
EMR
$87.7B
| $11.3M | 0.88% |
207,213
-14,275
| -6% | -$765K |
|
|
19
Berkshire Hathaway Class A
BRK.A
$1.06T
| $10.8M | 0.84% |
50
| – | – |
|
20
Harley-Davidson
HOG
$2.93B
| $10.2M | 0.8% |
193,901
+15,404
| +9% | +$796K |
|
|
21
Phillips 66
PSX
$96.9B
| $8.83M | 0.69% |
109,576
+27,310
| +33% | +$2.12M |
|
|
22
Walmart Inc
WMT
$825B
| $7M | 0.55% |
291,390
-113,952
| -28% | -$2.76M |
|
|
23
Johnson & Johnson
JNJ
$651B
| $5.55M | 0.43% |
46,961
-86,038
| -65% | -$10.4M |
|
24
Abbott
ABT
$202B
| $3.87M | 0.3% |
91,476
+8,000
| +10% | +$343K |
|
25
Microsoft
MSFT
$3.59T
| $3.59M | 0.28% |
62,276
-15,932
| -20% | -$899K |
|
Similar funds
Steven Check's Q3 2016 Portfolio in Review
As of Q3 2016, Steven Check held 54 positions worth $1.28B, up 4.5% from $1.23B the previous quarter. Its ten largest holdings account for 78% of the portfolio.
Steven Check deployed $39.2M of net new capital in Q3 2016, opening 3 new positions and adding to 17 existing holdings. Its largest new stake was Hanesbrands: 1,120,133 shares worth $28.3M.
By sector, the portfolio is most concentrated in Financials at 40% of assets, down from 43% a quarter earlier, followed by Technology and Consumer Staples.
On the sell side, the largest reduction was Oracle, an estimated $28.7M trimmed.
- Steven Check's largest Q3 2016 buy was Hanesbrands: 1,120,133 shares worth $28.3M.
- Steven Check added most to Travel + Leisure Co in Q3 2016, an estimated $12.4M increase.
- Steven Check's biggest Q3 2016 reduction was Oracle, cutting an estimated $28.7M.
- Steven Check fully exited Visa in Q3 2016, selling an estimated $233K.
- Steven Check's ten largest holdings make up 78% of its $1.28B portfolio in Q3 2016.
- Steven Check opened 3 new positions and closed 1 in Q3 2016.
- Steven Check's portfolio value rose 4.5% quarter-over-quarter to $1.28B.
Based on Check Capital Management's 13F filing for Q3 2016, filed 9 Nov 2016.