Harry Burn
Sound Shore
Harry Burn (Sound Shore) discloses a $2.98B portfolio across 40 US-listed positions in the latest 13F filing (2026Q1, filed May 7, 2026). The largest holding is TEVA at 3.9% of the book. The biggest move of the quarter: added 31% to the BAC share count (position now $101M). Latticework's clone backtest puts this 13F book at -3.6%/yr vs SPY over 12.0 years.
About Harry Burn
Harry Burn co-founded Sound Shore Management in 1978 and has run the firm's flagship strategy for nearly five decades, making it one of the longer-lived independent value shops in the U.S. The approach is disciplined, bottom-up contrarian value — buying out-of-favor large- and mid-cap names trading at discounts to estimated intrinsic value and waiting for a catalyst or re-rating to close the gap. The 13F reflects the strategy cleanly: roughly 40 equity positions, moderate diversification, and a top-five concentration around 18%, which is meaningfully less concentrated than deep-conviction value peers. Current weights in TEVA, REGN, and MRVL illustrate the willingness to hold both turnaround situations and growth-at-a-discount names within the same sleeve. Sound Shore does not employ significant derivatives or short positions as a structural matter, so the long-only 13F is a reasonably faithful representation of the book, subject only to the standard 45-day disclosure lag.
2026Q1 brief
Harry Burn's Sound Shore ($2.98B, 40 positions) was unusually active in 2026Q1, with six full exits and six new initiations signaling a meaningful portfolio rotation. The exits — CRM, AES, FIS, COF, WTW, and AMAT — span fintech, utilities, and technology, while the new buys cluster in healthcare (PFE 2.7%, MDT 2.4%), semiconductors (NXPI 2.7%), logistics (UPS 2.4%), and power (VST 2.4%), suggesting a deliberate pivot toward beaten-down dividend payers and rate-sensitive defensives consistent with Sound Shore's value discipline. The adds to BAC (+31%, now 3.4%) and ZBH (+24%, now 3.2%) reinforce a financials and medical devices value tilt. Notably, MRVL (3.8%) holds as a top-three position, one of the few higher-multiple names Burn is maintaining. The trimming of energy names CTRA (–35%), KMI (–44%), and PEG (–28%) marks a clear exit from the energy/utility trade that was popular in 2024–25. Watch whether REGN (3.9%, second-largest) gets trimmed given recent biotech sector volatility.
AI-generated. Not investment advice.
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Holdings (40) · click any column to sort
| #↑ | Ticker | Issuer | % Port. | This Q | History | Value |
|---|---|---|---|---|---|---|
| 1 | TEVA | 3.9% | $117M | |||
| 2 | REGN | 3.9% | $117M | |||
| 3 | MRVL | 3.8% | $114M | |||
| 4 | BAC | 3.4% | $101M | |||
| 5 | BRK/B | 3.2% | $96M | |||
| 6 | ZBH | 3.2% | $95M | |||
| 7 | DIS | 3.1% | $94M | |||
| 8 | C | 2.9% | $88M | |||
| 9 | GEHC | 2.8% | $85M | |||
| 10 | CSX | 2.8% | $82M | |||
| 11 | NXPI | 2.7% | $81M | |||
| 12 | PFE | 2.7% | $81M | |||
| 13 | PEG | 2.7% | $80M | |||
| 14 | AMZN | 2.6% | $79M | |||
| 15 | EQT | 2.6% | $79M | |||
| 16 | BP | 2.6% | $79M | |||
| 17 | GM | 2.6% | $77M | |||
| 18 | QXO | 2.6% | $76M | |||
| 19 | LUV | 2.5% | $75M | |||
| 20 | CTRA | 2.5% | $75M | |||
| 21 | M22465104 | 2.5% | $74M | |||
| 22 | GOOGL | 2.5% | $74M | |||
| 23 | INCY | 2.4% | $72M | |||
| 24 | VST | 2.4% | $72M | |||
| 25 | WFC | 2.4% | $72M | |||
| 26 | UPS | 2.4% | $72M | |||
| 27 | MDT | 2.4% | $72M | |||
| 28 | BA | 2.4% | $71M | |||
| 29 | ACI | 2.4% | $70M | |||
| 30 | ICLR | 2.3% | $69M | |||
| 31 | KMI | 2.2% | $64M | |||
| 32 | OC | 2.1% | $64M | |||
| 33 | OMC | 2.1% | $63M | |||
| 34 | MHK | 2.1% | $63M | |||
| 35 | Y2573F102 | 2.0% | $61M | |||
| 36 | SW | 2.0% | $60M | |||
| 37 | QCOM | 1.8% | $55M | |||
| 38 | KD | 1.8% | $54M | |||
| 39 | PKG | 0.4% | $12M | |||
| 40 | CVX | 0.1% | $2M |
- 1TEVAport3.9%val$117MTeva Pharmaceutical-sp Adrthis Q hold·11q
- 2REGNport3.9%val$117MRegeneron Pharmaceuticalsthis Q hold·3q
- 3MRVLport3.8%val$114MMarvell Technology Incthis Q hold·3q
- 4BACport3.4%val$101MBank OF America Corpthis Q +31%·31q
- port3.2%val$96MBerkshire Hathaway Inc-cl Bthis Q hold·40q
- 6ZBHport3.2%val$95MZimmer Biomet Holdings Incthis Q +24%·6q
- 7DISport3.1%val$94MWalt Disney Co/thethis Q hold·8q
- 8Cport2.9%val$88MCitigroup Incthis Q hold·26q
- 9GEHCport2.8%val$85MGE Healthcare Technologythis Q hold·13q
- 10CSXport2.8%val$82MCsx Corpthis Q hold·6q
- 11NXPIport2.7%val$81MNxp Semiconductors NVthis Q New·27q
- 12PFEport2.7%val$81MPfizer Incthis Q New·34q
- 13PEGport2.7%val$80MPublic Service Enterprise GPthis Q -28%·8q
- 14AMZNport2.6%val$79MAmazon.com Incthis Q New·—1q
- 15EQTport2.6%val$79MEqt Corpthis Q hold·12q
- 16BPport2.6%val$79MBP Plc-spons Adrthis Q hold·18q
- 17GMport2.6%val$77MGeneral Motors COthis Q hold·20q
- 18QXOport2.6%val$76MQxo Incthis Q hold·2q
- 19LUVport2.5%val$75MSouthwest Airlines COthis Q -21%·6q
- 20CTRAport2.5%val$75MCoterra Energy Incthis Q -35%·17q
- 21M22465104port2.5%val$74MCheck Point Software Technologies Ltd.this Q +22%·8q
- 22GOOGLport2.5%val$74MAlphabet Inc-cl Athis Q -27%·31q
- 23INCYport2.4%val$72MIncyte Corpthis Q hold·7q
- 24VSTport2.4%val$72MVistra Corpthis Q New·17q
- 25WFCport2.4%val$72MWells Fargo & COthis Q hold·21q
- 26UPSport2.4%val$72MUnited Parcel Service-cl Bthis Q New·—1q
- 27MDTport2.4%val$72MMedtronic, Plcthis Q New·—1q
- 28BAport2.4%val$71MBoeing Co/thethis Q New·6q
- 29ACIport2.4%val$70MAlbertsons Cos Inc - Class Athis Q hold·4q
- 30ICLRport2.3%val$69MIcon Plcthis Q New·—1q
- 31KMIport2.2%val$64MKinder Morgan Incthis Q -44%·16q
- 32OCport2.1%val$64MOwens Corningthis Q New·—1q
- 33OMCport2.1%val$63MOmnicom Groupthis Q New·—1q
- 34MHKport2.1%val$63MMohawk Industries Incthis Q hold·7q
- 35Y2573F102port2.0%val$61MFlex Ltd.this Q hold·33q
- 36SWport2.0%val$60MSmurfit Westrock Public Limited Companythis Q New·—1q
- 37QCOMport1.8%val$55MQualcomm Incthis Q -28%·3q
- 38KDport1.8%val$54MKyndryl Holdings Incthis Q +39%·3q
- 39PKGport0.4%val$12MPackaging Corp OF Americathis Q New·2q
- 40CVXport0.1%val$2MChevron Corpthis Q New·5q
All activity (2026Q1)
| Ticker | Issuer | Move | % Port. | Δ Shares | Value |
|---|---|---|---|---|---|
| GOOGL | Alphabet Inc-cl A | TRIM | 2.5% | -27% | $74M |
| PEG | Public Service Enterprise GP | TRIM | 2.7% | -28% | $80M |
| BAC | Bank OF America Corp | ADD | 3.4% | +31% | $101M |
| LUV | Southwest Airlines CO | TRIM | 2.5% | -21% | $75M |
| QCOM | Qualcomm Inc | TRIM | 1.8% | -28% | $55M |
| CRM | Salesforce Inc | EXIT | 3.2% | -100% | $0 |
| ZBH | Zimmer Biomet Holdings Inc | ADD | 3.2% | +24% | $95M |
| AES | Aes Corp | EXIT | 3.1% | -100% | $0 |
| KMI | Kinder Morgan Inc | TRIM | 2.2% | -44% | $64M |
| FIS | Fidelity National Info Serv | EXIT | 2.9% | -100% | $0 |
| COF | Capital One Financial Corp | EXIT | 2.8% | -100% | $0 |
| CTRA | Coterra Energy Inc | TRIM | 2.5% | -35% | $75M |
| NXPI | Nxp Semiconductors NV | NEW | 2.7% | +100% | $81M |
| PFE | Pfizer Inc | NEW | 2.7% | +100% | $81M |
| AMZN | Amazon.com Inc | NEW | 2.6% | +100% | $79M |
| KD | Kyndryl Holdings Inc | ADD | 1.8% | +39% | $54M |
| M22465104 | Check Point Software Technologies Ltd. | ADD | 2.5% | +22% | $74M |
| VST | Vistra Corp | NEW | 2.4% | +100% | $72M |
| UPS | United Parcel Service-cl B | NEW | 2.4% | +100% | $72M |
| MDT | Medtronic, Plc | NEW | 2.4% | +100% | $72M |
| BA | Boeing Co/the | NEW | 2.4% | +100% | $71M |
| WTW | Willis Towers Watson Plc | EXIT | 2.4% | -100% | $0 |
| ICLR | Icon Plc | NEW | 2.3% | +100% | $69M |
| AMAT | Applied Materials Inc | EXIT | 2.3% | -100% | $0 |
| HII | Huntington Ingalls Industrie | EXIT | 2.2% | -100% | $0 |
| OC | Owens Corning | NEW | 2.1% | +100% | $64M |
| OMC | Omnicom Group | NEW | 2.1% | +100% | $63M |
| SW | Smurfit Westrock Public Limited Company | NEW | 2.0% | +100% | $60M |
| B | Barrick Mining Corp | EXIT | 1.6% | -100% | $0 |
| WBD | Warner Bros Discovery Inc | EXIT | 0.9% | -100% | $0 |
| PKG | Packaging Corp OF America | NEW | 0.4% | +100% | $12M |
| NEM | Newmont Corp | EXIT | 0.3% | -100% | $0 |
| CVX | Chevron Corp | NEW | 0.1% | +100% | $2M |
- TRIMGOOGL2.5%Alphabet Inc-cl AΔ -27%·$74M
- TRIMPEG2.7%Public Service Enterprise GPΔ -28%·$80M
- ADDBAC3.4%Bank OF America CorpΔ +31%·$101M
- TRIMLUV2.5%Southwest Airlines COΔ -21%·$75M
- TRIMQCOM1.8%Qualcomm IncΔ -28%·$55M
- EXITCRM3.2%Salesforce IncΔ -100%·$0
- ADDZBH3.2%Zimmer Biomet Holdings IncΔ +24%·$95M
- EXITAES3.1%Aes CorpΔ -100%·$0
- TRIMKMI2.2%Kinder Morgan IncΔ -44%·$64M
- EXITFIS2.9%Fidelity National Info ServΔ -100%·$0
- EXITCOF2.8%Capital One Financial CorpΔ -100%·$0
- TRIMCTRA2.5%Coterra Energy IncΔ -35%·$75M
- NEWNXPI2.7%Nxp Semiconductors NVΔ +100%·$81M
- NEWPFE2.7%Pfizer IncΔ +100%·$81M
- NEWAMZN2.6%Amazon.com IncΔ +100%·$79M
- ADDKD1.8%Kyndryl Holdings IncΔ +39%·$54M
- ADDM224651042.5%Check Point Software Technologies Ltd.Δ +22%·$74M
- NEWVST2.4%Vistra CorpΔ +100%·$72M
- NEWUPS2.4%United Parcel Service-cl BΔ +100%·$72M
- NEWMDT2.4%Medtronic, PlcΔ +100%·$72M
- NEWBA2.4%Boeing Co/theΔ +100%·$71M
- EXITWTW2.4%Willis Towers Watson PlcΔ -100%·$0
- NEWICLR2.3%Icon PlcΔ +100%·$69M
- EXITAMAT2.3%Applied Materials IncΔ -100%·$0
- EXITHII2.2%Huntington Ingalls IndustrieΔ -100%·$0
- NEWOC2.1%Owens CorningΔ +100%·$64M
- NEWOMC2.1%Omnicom GroupΔ +100%·$63M
- NEWSW2.0%Smurfit Westrock Public Limited CompanyΔ +100%·$60M
- EXITB1.6%Barrick Mining CorpΔ -100%·$0
- EXITWBD0.9%Warner Bros Discovery IncΔ -100%·$0
- NEWPKG0.4%Packaging Corp OF AmericaΔ +100%·$12M
- EXITNEM0.3%Newmont CorpΔ -100%·$0
- NEWCVX0.1%Chevron CorpΔ +100%·$2M
Frequently asked questions
- What stocks does Harry Burn own?
- As of 2026Q1, Harry Burn's 13F discloses 40 positions worth $2.98B. The top five holdings: TEVA (3.9%), REGN (3.9%), MRVL (3.8%), BAC (3.4%), BRK/B (3.2%). 13F filings cover long US-listed equities only — cash, bonds, shorts, and non-US positions are not disclosed.
- What did Harry Burn buy this quarter?
- In 2026Q1, the filing shows 13 new positions and 4 additions to existing holdings. The largest positions touched by buying: BAC, ZBH, NXPI, PFE, AMZN.
- How big is Harry Burn's portfolio?
- $2.98B across 40 positions per the latest 13F (filed May 7, 2026). The top five holdings account for 18% of the disclosed book.
Explore more
Long US equity 13F-HR filings only — no shorts, no derivatives. SEC filings at EDGAR (CIK 0000820124). Not investment advice.