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 |
NPSN
NASPERS LTD
NPSN
|
+$31.1M |
| 2 |
FedEx
FDX
|
+$11.1M |
| 3 |
GE Aerospace
GE
|
+$8.11M |
| 4 |
Starbucks
SBUX
|
+$1.58M |
| 5 |
Ingredion
INGR
|
+$1.09M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
ESRX
Express Scripts Holding Company
ESRX
|
+$66.4M |
| 2 |
US Bancorp
USB
|
+$37.5M |
| 3 |
Berkshire Hathaway Class B
BRK.B
|
+$5.37M |
| 4 |
Suncor Energy
SU
|
+$4.56M |
| 5 |
CarMax
KMX
|
+$3.7M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 27.83% |
| 2 | Consumer Discretionary | 11.76% |
| 3 | Industrials | 5.36% |
| 4 | Technology | 5.26% |
| 5 | Consumer Staples | 4.69% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
1
CALL
Berkshire Hathaway Class B
BRK.B
$1.06T
| $710M | 35.41% |
3,317,700
+199,900
| +6% | +$41M |
|
|
2
Berkshire Hathaway Class B
BRK.B
$1.06T
| $259M | 12.93% |
1,210,933
-26,176
| -2% | -$5.37M |
|
|
3
FedEx
FDX
$76.9B
| $75.8M | 3.78% |
314,659
+45,953
| +17% | +$11.1M |
|
4
Brookfield
BN
$93.1B
| $70.9M | 3.53% |
4,460,984
+17,178
| +0.4% | +$261K |
|
5
Qualcomm
QCOM
$169B
| $68.3M | 3.4% |
947,820
-41,384
| -4% | -$2.72M |
|
6
American Express
AXP
$227B
| $61.5M | 3.07% |
577,814
-7,535
| -1% | -$784K |
|
|
7
Suncor Energy
SU
$80B
| $60.4M | 3.01% |
1,560,920
-112,786
| -7% | -$4.56M |
|
8
Bread Financial
BFH
$4.07B
| $59M | 2.94% |
313,194
+2,357
| +0.8% | +$444K |
|
|
9
CarMax
KMX
$8.82B
| $56.2M | 2.8% |
752,492
-48,497
| -6% | -$3.7M |
|
10
Wells Fargo
WFC
$254B
| $53.9M | 2.69% |
1,025,185
-2,006
| -0.2% | -$115K |
|
|
HBI
11
DELISTED
Hanesbrands
HBI
| $50.1M | 2.5% |
2,719,356
+17,260
| +0.6% | +$335K |
|
12
AutoZone
AZO
$48.3B
| $48.7M | 2.43% |
62,736
-577
| -0.9% | -$425K |
|
|
13
Berkshire Hathaway Class A
BRK.A
$1.06T
| $47M | 2.35% |
147
| – | – |
|
14
LKQ Corp
LKQ
$6.52B
| $46.8M | 2.33% |
1,478,503
+20,470
| +1% | +$680K |
|
15
Spectrum Brands
SPB
$2B
| $45.3M | 2.26% |
606,460
+2,763
| +0.5% | +$234K |
|
|
16
Ingredion
INGR
$6.74B
| $44.8M | 2.24% |
427,213
+10,659
| +3% | +$1.09M |
|
17
IBM
IBM
$222B
| $33.7M | 1.68% |
233,089
-14,803
| -6% | -$2.07M |
|
|
NPSN
18
DELISTED
NASPERS LTD
NPSN
| $31.1M | 1.55% |
+726,188
| New | +$31.1M |
|
19
AutoNation
AN
$6.6B
| $30.2M | 1.51% |
727,445
+21,587
| +3% | +$999K |
|
|
WBA
20
DELISTED
Walgreens Boots Alliance
WBA
| $29.7M | 1.48% |
407,792
-1,281
| -0.3% | -$87K |
|
|
21
GE Aerospace
GE
$361B
| $28.1M | 1.4% |
520,190
+131,493
| +34% | +$8.11M |
|
22
Verizon
VZ
$205B
| $5.95M | 0.3% |
111,385
-11,470
| -9% | -$607K |
|
23
AB InBev
BUD
$155B
| $3.92M | 0.2% |
44,800
-6,310
| -12% | -$615K |
|
|
24
US Bancorp
USB
$96.7B
| $3.48M | 0.17% |
65,980
-707,700
| -91% | -$37.5M |
|
25
Fastenal
FAST
$58.8B
| $3.39M | 0.17% |
233,520
-37,396
| -14% | -$532K |
|
Similar funds
Steven Check's Q3 2018 Portfolio in Review
As of Q3 2018, Steven Check held 61 positions worth $2.01B, up 6.1% from $1.89B the previous quarter. Its ten largest holdings account for 74% of the portfolio.
Steven Check's Q3 2018 filing shows 2 new, 19 increased, 23 reduced and 4 closed positions. Its largest new stake was NASPERS LTD: 726,188 shares worth $31.1M. The largest sale was Express Scripts Holding Company, an estimated $66.4M.
By sector, the portfolio is most concentrated in Financials at 28% of assets, down from 29% a quarter earlier, followed by Consumer Discretionary and Industrials.
- Steven Check's largest Q3 2018 buy was NASPERS LTD: 726,188 shares worth $31.1M.
- Steven Check added most to FedEx in Q3 2018, an estimated $11.1M increase.
- Steven Check's biggest Q3 2018 reduction was Express Scripts Holding Company, cutting an estimated $66.4M.
- Steven Check fully exited Alphabet (Google) Class C in Q3 2018, selling an estimated $621K.
- Steven Check's ten largest holdings make up 74% of its $2.01B portfolio in Q3 2018.
- Steven Check opened 2 new positions and closed 4 in Q3 2018.
- Steven Check's portfolio value rose 6.1% quarter-over-quarter to $2.01B.
Based on Check Capital Management's 13F filing for Q3 2018, filed 29 Oct 2018.