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 |
CarMax
KMX
|
+$9.21M |
| 2 |
Spectrum Brands
SPB
|
+$8.02M |
| 3 |
HBI
Hanesbrands
HBI
|
+$6.35M |
| 4 |
ESRX
Express Scripts Holding Company
ESRX
|
+$5.81M |
| 5 |
Travel + Leisure Co
TNL
|
+$3.41M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Aflac
AFL
|
+$32.5M |
| 2 |
Berkshire Hathaway Class B
BRK.B
|
+$32.4M |
| 3 |
US Bancorp
USB
|
+$26.6M |
| 4 |
Johnson & Johnson
JNJ
|
+$4.26M |
| 5 |
IBM
IBM
|
+$3.4M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 37.04% |
| 2 | Technology | 7.48% |
| 3 | Consumer Discretionary | 6.56% |
| 4 | Consumer Staples | 5.7% |
| 5 | Healthcare | 5.34% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
1
Berkshire Hathaway Class B
BRK.B
$1.06T
| $323M | 24.62% |
1,983,188
-210,442
| -10% | -$32.4M |
|
|
2
CALL
Berkshire Hathaway Class B
BRK.B
$1.06T
| $317M | 24.13% |
1,943,600
+13,800
| +0.7% | +$2.12M |
|
3
Wells Fargo
WFC
$254B
| $84.8M | 6.46% |
1,537,929
-57,521
| -4% | -$2.89M |
|
4
FedEx
FDX
$76.9B
| $58.9M | 4.49% |
316,429
-8,733
| -3% | -$1.6M |
|
5
Verizon
VZ
$205B
| $57.9M | 4.41% |
1,085,236
-50,821
| -4% | -$2.54M |
|
|
6
IBM
IBM
$222B
| $54M | 4.11% |
340,350
-22,316
| -6% | -$3.4M |
|
7
Qualcomm
QCOM
$169B
| $40.7M | 3.1% |
623,634
+27,601
| +5% | +$1.85M |
|
8
Suncor Energy
SU
$80B
| $37M | 2.82% |
1,130,671
+13,265
| +1% | +$407K |
|
9
Ingredion
INGR
$6.74B
| $36.2M | 2.75% |
289,448
-5,277
| -2% | -$667K |
|
10
American Express
AXP
$227B
| $35.9M | 2.74% |
484,785
+669
| +0.1% | +$46.3K |
|
|
ESRX
11
DELISTED
Express Scripts Holding Company
ESRX
| $35.3M | 2.69% |
512,759
+81,044
| +19% | +$5.81M |
|
|
12
Spectrum Brands
SPB
$2B
| $33.3M | 2.53% |
272,045
+62,812
| +30% | +$8.02M |
|
|
13
Travel + Leisure Co
TNL
$4.39B
| $33.1M | 2.52% |
959,833
+105,966
| +12% | +$3.41M |
|
|
HBI
14
DELISTED
Hanesbrands
HBI
| $29.9M | 2.28% |
1,385,834
+265,701
| +24% | +$6.35M |
|
15
Labcorp
LH
$27.3B
| $29.5M | 2.24% |
267,204
+7,580
| +3% | +$842K |
|
|
16
US Bancorp
USB
$96.7B
| $15.4M | 1.18% |
300,401
-558,565
| -65% | -$26.6M |
|
|
17
Aflac
AFL
$58.2B
| $13M | 0.99% |
373,040
-924,192
| -71% | -$32.5M |
|
18
Harley-Davidson
HOG
$2.93B
| $11.7M | 0.89% |
200,901
+7,000
| +4% | +$399K |
|
|
19
Berkshire Hathaway Class A
BRK.A
$1.06T
| $11.7M | 0.89% |
48
-2
| -4% | -$462K |
|
|
20
CarMax
KMX
$8.82B
| $10.6M | 0.81% |
+164,152
| New | +$9.21M |
|
21
Phillips 66
PSX
$96.9B
| $9.31M | 0.71% |
107,719
-1,857
| -2% | -$154K |
|
22
Emerson Electric
EMR
$87.7B
| $8.26M | 0.63% |
148,205
-59,008
| -28% | -$3.17M |
|
23
Walmart Inc
WMT
$825B
| $4.97M | 0.38% |
215,892
-75,498
| -26% | -$1.76M |
|
24
Abbott
ABT
$202B
| $3.62M | 0.28% |
94,351
+2,875
| +3% | +$114K |
|
25
Walt Disney
DIS
$186B
| $3.27M | 0.25% |
31,346
+27,125
| +643% | +$2.64M |
|
Similar funds
Steven Check's Q4 2016 Portfolio in Review
As of Q4 2016, Steven Check held 62 positions worth $1.31B, up 2.5% from $1.28B the previous quarter. Its ten largest holdings account for 80% of the portfolio.
Steven Check withdrew a net $74.1M in Q4 2016, closing 7 positions and reducing 23 holdings. Its most notable exit was Accenture, an estimated $880K position sold in full.
By sector, the portfolio is most concentrated in Financials at 37% of assets, down from 40% a quarter earlier, followed by Technology and Consumer Discretionary.
Against the trend, Steven Check opened a new position in CarMax worth $10.6M.
- Steven Check's largest Q4 2016 buy was CarMax: 164,152 shares worth $10.6M.
- Steven Check added most to Spectrum Brands in Q4 2016, an estimated $8.02M increase.
- Steven Check's biggest Q4 2016 reduction was Aflac, cutting an estimated $32.5M.
- Steven Check fully exited Accenture in Q4 2016, selling an estimated $880K.
- Steven Check's ten largest holdings make up 80% of its $1.31B portfolio in Q4 2016.
- Steven Check opened 9 new positions and closed 7 in Q4 2016.
- Steven Check's portfolio value rose 2.5% quarter-over-quarter to $1.31B.
Based on Check Capital Management's 13F filing for Q4 2016, filed 27 Jan 2017.