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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
+0.97%
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
$1.57B
AUM Growth
+$108M
(+7.4%)
Cap. Flow
+$69.9M
Cap. Flow % of AUM
Cap. Flow %
4.46%
Top 10 Holdings %
Top 10 Hldgs %
73.74%
Holding
57
New
7
Increased
21
Reduced
22
Closed
2
Avg Time Held
Equity + Options
2
years
Top 10 Avg Time Held
Equity + Options
1.7
years
Top 20 Avg Time Held
Equity + Options
2
years
Avg Time Held Equity only
2
years
Top 10 Avg Time Held Equity only
1.6
years
Top 20 Avg Time Held Equity only
2
years
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
AutoZone
AZO
|
+$36.9M |
| 2 |
Berkshire Hathaway Class A
BRK.A
|
+$24.5M |
| 3 |
Cognizant
CTSH
|
+$11.5M |
| 4 |
IBM
IBM
|
+$11.4M |
| 5 |
Berkshire Hathaway Class B
BRK.B
|
+$7.3M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Travel + Leisure Co
TNL
|
+$33.7M |
| 2 |
Verizon
VZ
|
+$1.24M |
| 3 |
Harley-Davidson
HOG
|
+$1.05M |
| 4 |
Hanesbrands
HBI
|
+$773K |
| 5 |
Spectrum Brands
SPB
|
+$475K |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 29.81% |
| 2 | Miscellaneous | 28.16% |
| 3 | Consumer Discretionary | 8.96% |
| 4 | Technology | 8.39% |
| 5 | Healthcare | 6.58% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
|
1
CALL
Berkshire Hathaway Class B
BRK.B
$1.16T
| $403M | 25.69% |
2,379,200
+93,200
| +4% | +$15.5M |
2013 Q2
16 quarters
|
|
|
2
Berkshire Hathaway Class B
BRK.B
$1.16T
| $298M | 19.01% |
1,760,156
+43,891
| +3% | +$7.3M |
2013 Q2
16 quarters
|
|
3
Wells Fargo
WFC
$247B
| $79.6M | 5.08% |
1,437,473
+7,736
| +0.5% | +$414K |
2013 Q2
16 quarters
|
|
4
Qualcomm
QCOM
$188B
| $62M | 3.95% |
1,122,371
+21,223
| +2% | +$1.19M |
2013 Q2
16 quarters
|
|
5
Suncor Energy
SU
$92.8B
| $61.1M | 3.89% |
2,091,526
+21,196
| +1% | +$652K |
2014 Q1
13 quarters
|
|
6
FedEx
FDX
$70.7B
| $60.5M | 3.86% |
278,373
+908
| +0.3% | +$179K |
2015 Q4
6 quarters
|
|
7
Ingredion
INGR
$6.04B
| $51.4M | 3.28% |
431,454
+3,892
| +0.9% | +$462K |
2014 Q2
12 quarters
|
|
|
8
DELISTED
Hanesbrands
HBI
| $51.1M | 3.26% |
2,206,569
-35,806
| -2% | -$773K |
2016 Q3
3 quarters
|
|
|
ESRX
9
DELISTED
Express Scripts Holding Company
ESRX
| $45.1M | 2.87% |
706,079
+31,090
| +5% | +$1.95M |
2014 Q3
11 quarters
|
|
10
American Express
AXP
$212B
| $44.8M | 2.86% |
531,598
+90,315
| +20% | +$7.15M |
2014 Q4
10 quarters
|
|
|
11
Verizon
VZ
$186B
| $44.3M | 2.82% |
990,920
-26,613
| -3% | -$1.24M |
2014 Q1
13 quarters
|
|
12
Labcorp
LH
$26.7B
| $41.6M | 2.65% |
313,928
+3,567
| +1% | +$437K |
2016 Q1
5 quarters
|
|
|
13
Berkshire Hathaway Class A
BRK.A
$1.16T
| $37.2M | 2.37% |
146
+98
| +204% | +$24.5M |
2013 Q2
16 quarters
|
|
|
14
IBM
IBM
$240B
| $35.6M | 2.27% |
242,225
+75,556
| +45% | +$11.4M |
2013 Q2
16 quarters
|
|
|
15
Spectrum Brands
SPB
$1.84B
| $34.7M | 2.21% |
277,400
-3,547
| -1% | -$475K |
2015 Q4
6 quarters
|
|
16
LKQ Corp
LKQ
$4.41B
| $32.4M | 2.06% |
981,788
+36,193
| +4% | +$1.12M |
2017 Q1
1 quarter
|
|
|
17
AutoZone
AZO
$51.8B
| $32.3M | 2.06% |
+56,638
| New | +$36.9M |
2017 Q2
0 quarters
|
|
|
18
Cognizant
CTSH
$31.8B
| $31M | 1.97% |
466,332
+180,422
| +63% | +$11.5M |
2017 Q1
1 quarter
|
|
19
Abbott
ABT
$179B
| $15M | 0.95% |
307,552
-9,899
| -3% | -$448K |
2013 Q2
16 quarters
|
|
20
Phillips 66
PSX
$113B
| $14.8M | 0.94% |
179,173
-4,988
| -3% | -$392K |
2016 Q1
5 quarters
|
|
|
21
Travel + Leisure Co
TNL
$3.98B
| $13.2M | 0.84% |
290,539
-777,392
| -73% | -$33.7M |
2016 Q2
4 quarters
|
|
22
AB InBev
BUD
$166B
| $10.4M | 0.66% |
93,810
-3,300
| -3% | -$378K |
2016 Q4
2 quarters
|
|
23
CarMax
KMX
$7.32B
| $10.2M | 0.65% |
161,642
-1,740
| -1% | -$105K |
2016 Q4
2 quarters
|
|
24
US Bancorp
USB
$92.8B
| $4.23M | 0.27% |
81,415
+22,270
| +38% | +$1.15M |
2013 Q4
14 quarters
|
|
25
Walt Disney
DIS
$194B
| $3.68M | 0.23% |
34,604
-1,350
| -4% | -$148K |
2015 Q4
6 quarters
|
|
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Steven Check's Q2 2017 Portfolio in Review
As of Q2 2017, Steven Check held 57 positions worth $1.57B, up 7.4% from $1.46B the previous quarter. Its ten largest holdings account for 74% of the portfolio.
Steven Check deployed $69.9M of net new capital in Q2 2017, opening 7 new positions and adding to 21 existing holdings. Its largest new stake was AutoZone: 56,638 shares worth $32.3M.
By sector, the portfolio is most concentrated in Financials at 30% of assets, up from 29% a quarter earlier, followed by Miscellaneous and Consumer Discretionary.
On the sell side, the largest reduction was Travel + Leisure Co, an estimated $33.7M trimmed.
- Steven Check's largest Q2 2017 buy was AutoZone: 56,638 shares worth $32.3M.
- Steven Check added most to Berkshire Hathaway Class A in Q2 2017, an estimated $24.5M increase.
- Steven Check's biggest Q2 2017 reduction was Travel + Leisure Co, cutting an estimated $33.7M.
- Steven Check fully exited ConocoPhillips in Q2 2017, selling an estimated $349K.
- Steven Check's ten largest holdings make up 74% of its $1.57B portfolio in Q2 2017.
- Steven Check opened 7 new positions and closed 2 in Q2 2017.
- Steven Check's portfolio value rose 7.4% quarter-over-quarter to $1.57B.
Based on Check Capital Management's 13F filing for Q2 2017, filed 11 Aug 2017.