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 |
Restaurant Brands International
QSR
|
+$41.5M |
| 2 |
Quest Diagnostics
DGX
|
+$20.5M |
| 3 |
Berkshire Hathaway Class B
BRK.B
|
+$9M |
| 4 |
Markel Group
MKL
|
+$1.44M |
| 5 |
Bank of America
BAC
|
+$396K |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
American Express
AXP
|
+$25.2M |
| 2 |
FedEx
FDX
|
+$17.1M |
| 3 |
Brookfield
BN
|
+$4.35M |
| 4 |
CarMax
KMX
|
+$3.19M |
| 5 |
LKQ Corp
LKQ
|
+$2.37M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 27.36% |
| 2 | Consumer Discretionary | 12.07% |
| 3 | Industrials | 4.97% |
| 4 | Communication Services | 3.87% |
| 5 | Consumer Staples | 1.41% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
1
CALL
Berkshire Hathaway Class B
BRK.B
$1.06T
| $748M | 45.61% |
3,510,600
-195,600
| -5% | -$40M |
|
|
2
Berkshire Hathaway Class B
BRK.B
$1.06T
| $287M | 17.51% |
1,347,482
+43,987
| +3% | +$9M |
|
|
3
Brookfield
BN
$93.1B
| $83.1M | 5.07% |
4,693,979
-243,328
| -5% | -$4.35M |
|
|
4
FedEx
FDX
$76.9B
| $58.4M | 3.57% |
232,323
-85,562
| -27% | -$17.1M |
|
5
Alphabet (Google) Class C
GOOG
$4.18T
| $57M | 3.48% |
776,060
-21,560
| -3% | -$1.64M |
|
|
6
CarMax
KMX
$8.82B
| $44M | 2.68% |
478,424
-31,956
| -6% | -$3.19M |
|
|
7
Restaurant Brands International
QSR
$28.2B
| $42.8M | 2.61% |
+743,700
| New | +$41.5M |
|
|
8
LKQ Corp
LKQ
$6.52B
| $40.9M | 2.49% |
1,473,127
-80,524
| -5% | -$2.37M |
|
|
HBI
9
DELISTED
Hanesbrands
HBI
| $38.9M | 2.37% |
2,467,294
-144,146
| -6% | -$2.12M |
|
10
Advance Auto Parts
AAP
$2.57B
| $29.4M | 1.79% |
191,604
-13,024
| -6% | -$1.96M |
|
11
Ingredion
INGR
$6.74B
| $22.8M | 1.39% |
301,348
-18,473
| -6% | -$1.5M |
|
12
Wells Fargo
WFC
$254B
| $22.5M | 1.37% |
957,011
-59,031
| -6% | -$1.45M |
|
13
Oshkosh
OSK
$9.7B
| $22.2M | 1.36% |
302,384
-21,040
| -7% | -$1.62M |
|
|
14
Quest Diagnostics
DGX
$27B
| $19.8M | 1.21% |
+173,153
| New | +$20.5M |
|
15
US Bancorp
USB
$96.7B
| $19.4M | 1.18% |
540,797
-26,570
| -5% | -$972K |
|
|
16
Berkshire Hathaway Class A
BRK.A
$1.06T
| $17.9M | 1.09% |
56
-4
| -7% | -$1.23M |
|
17
Suncor Energy
SU
$80B
| $17.5M | 1.07% |
1,432,746
-72,250
| -5% | -$1.13M |
|
18
Bread Financial
BFH
$4.07B
| $13.6M | 0.83% |
406,089
-24,234
| -6% | -$861K |
|
19
Apple
AAPL
$4.51T
| $4.17M | 0.25% |
36,002
-106
| -0.3% | -$11.6K |
|
20
Walt Disney
DIS
$186B
| $3.22M | 0.2% |
25,973
-400
| -2% | -$50K |
|
21
Verizon
VZ
$205B
| $3.15M | 0.19% |
52,981
-200
| -0.4% | -$11.6K |
|
|
22
Markel Group
MKL
$22.2B
| $2.14M | 0.13% |
2,202
+1,422
| +182% | +$1.44M |
|
23
Trupanion
TRUP
$1.36B
| $1.78M | 0.11% |
22,585
-6,555
| -22% | -$393K |
|
24
Microsoft
MSFT
$3.59T
| $1.2M | 0.07% |
5,692
-275
| -5% | -$57.8K |
|
25
Amgen
AMGN
$238B
| $958K | 0.06% |
3,768
-202
| -5% | -$50K |
|
Similar funds
Steven Check's Q3 2020 Portfolio in Review
As of Q3 2020, Steven Check held 45 positions worth $1.64B, up 13% from $1.45B the previous quarter. Its ten largest holdings account for 87% of the portfolio.
Steven Check's Q3 2020 filing shows 4 new, 5 increased, 27 reduced and 4 closed positions. Its largest new stake was Restaurant Brands International: 743,700 shares worth $42.8M. The largest sale was American Express, an estimated $25.2M.
By sector, the portfolio is most concentrated in Financials at 27% of assets, down from 29% a quarter earlier, followed by Consumer Discretionary and Industrials.
- Steven Check's largest Q3 2020 buy was Restaurant Brands International: 743,700 shares worth $42.8M.
- Steven Check added most to Berkshire Hathaway Class B in Q3 2020, an estimated $9M increase.
- Steven Check's biggest Q3 2020 reduction was FedEx, cutting an estimated $17.1M.
- Steven Check fully exited American Express in Q3 2020, selling an estimated $25.2M.
- Steven Check's ten largest holdings make up 87% of its $1.64B portfolio in Q3 2020.
- Steven Check opened 4 new positions and closed 4 in Q3 2020.
- Steven Check's portfolio value rose 13% quarter-over-quarter to $1.64B.
Based on Check Capital Management's 13F filing for Q3 2020, filed 6 Nov 2020.