Harry Burn
Sound Shore
Harry Burn (Sound Shore) discloses a $3.25B portfolio across 40 US-listed positions in the latest 13F filing (2026Q2, filed Aug 12, 2026). The largest holding is TEVA at 4.0% of the book. The biggest move of the quarter: added 22% to the LUV share count (position now $126M). Mechanically cloning this 13F returned 10.4%/yr over the past 12.2 years, versus 13.7%/yr for the S&P 500 across that identical 12.2-year window.
Holdings (40) · click any column to sort
| #↑ | Ticker | Issuer | % Port. | This Q | History | Value |
|---|---|---|---|---|---|---|
| 1 | TEVA | 4.0% | $129M | |||
| 2 | LUV | 3.9% | $126M | |||
| 3 | BAC | 3.6% | $116M | |||
| 4 | AAL | 3.3% | $108M | |||
| 5 | BRK/B | 3.1% | $102M | |||
| 6 | QCOM | 3.1% | $101M | |||
| 7 | ELV | 2.9% | $94M | |||
| 8 | DIS | 2.9% | $93M | |||
| 9 | OC | 2.9% | $93M | |||
| 10 | PFE | 2.8% | $92M | |||
| 11 | VST | 2.8% | $92M | |||
| 12 | TEL | 2.8% | $90M | |||
| 13 | QXO | 2.8% | $90M | |||
| 14 | BA | 2.7% | $88M | |||
| 15 | UPS | 2.7% | $86M | |||
| 16 | C | 2.7% | $86M | |||
| 17 | INCY | 2.6% | $86M | |||
| 18 | SW | 2.6% | $85M | |||
| 19 | AMZN | 2.6% | $83M | |||
| 20 | EQT | 2.6% | $83M | |||
| 21 | GOOGL | 2.6% | $83M | |||
| 22 | TMO | 2.6% | $83M | |||
| 23 | BP | 2.5% | $83M | |||
| 24 | OMC | 2.5% | $82M | |||
| 25 | NXPI | 2.5% | $81M | |||
| 26 | REGN | 2.4% | $79M | |||
| 27 | GM | 2.4% | $79M | |||
| 28 | PEG | 2.4% | $79M | |||
| 29 | MHK | 2.4% | $77M | |||
| 30 | WFC | 2.3% | $74M | |||
| 31 | GEHC | 2.2% | $72M | |||
| 32 | CSX | 2.2% | $70M | |||
| 33 | NFG | 2.1% | $70M | |||
| 34 | ZBH | 2.1% | $68M | |||
| 35 | GPC | 2.1% | $68M | |||
| 36 | ORCL | 2.1% | $67M | |||
| 37 | MDT | 2.0% | $66M | |||
| 38 | KD | 0.9% | $28M | |||
| 39 | PKG | 0.4% | $15M | |||
| 40 | CVX | 0.1% | $2M |
- 1TEVAport4.0%val$129MTeva Pharmaceutical-sp Adrthis Q hold·12q
- 2LUVport3.9%val$126MSouthwest Airlines COthis Q +22%·7q
- 3BACport3.6%val$116MBank OF America Corpthis Q hold·31q
- 4AALport3.3%val$108MAmerican Airlines Group Incthis Q New·—1q
- port3.1%val$102MBerkshire Hathaway Inc-cl Bthis Q hold·40q
- 6QCOMport3.1%val$101MQualcomm Incthis Q +29%·4q
- 7ELVport2.9%val$94MElevance Health Incthis Q New·14q
- 8DISport2.9%val$93MWalt Disney Co/thethis Q hold·9q
- 9OCport2.9%val$93MOwens Corningthis Q hold·2q
- 10PFEport2.8%val$92MPfizer Incthis Q +33%·34q
- 11VSTport2.8%val$92MVistra Corpthis Q +20%·18q
- 12TELport2.8%val$90MTE Connectivity Plcthis Q New·—1q
- 13QXOport2.8%val$90MQxo Incthis Q +32%·3q
- 14BAport2.7%val$88MBoeing Co/thethis Q hold·7q
- 15UPSport2.7%val$86MUnited Parcel Service-cl Bthis Q hold·2q
- 16Cport2.7%val$86MCitigroup Incthis Q -20%·26q
- 17INCYport2.6%val$86MIncyte Corpthis Q hold·8q
- 18SWport2.6%val$85MSmurfit Westrock Public Limited Companythis Q +22%·2q
- 19AMZNport2.6%val$83MAmazon.com Incthis Q hold·2q
- 20EQTport2.6%val$83MEqt Corpthis Q +27%·12q
- 21GOOGLport2.6%val$83MAlphabet Inc-cl Athis Q hold·31q
- 22TMOport2.6%val$83MThermo Fisher Scientific Incthis Q New·18q
- 23BPport2.5%val$83MBP Plc-spons Adrthis Q +34%·18q
- 24OMCport2.5%val$82MOmnicom Groupthis Q +34%·2q
- 25NXPIport2.5%val$81MNxp Semiconductors NVthis Q -30%·28q
- 26REGNport2.4%val$79MRegeneron Pharmaceuticalsthis Q hold·4q
- 27GMport2.4%val$79MGeneral Motors COthis Q hold·21q
- 28PEGport2.4%val$79MPublic Service Enterprise GPthis Q hold·9q
- 29MHKport2.4%val$77MMohawk Industries Incthis Q hold·8q
- 30WFCport2.3%val$74MWells Fargo & COthis Q hold·22q
- 31GEHCport2.2%val$72MGE Healthcare Technologythis Q hold·14q
- 32CSXport2.2%val$70MCsx Corpthis Q -26%·7q
- 33NFGport2.1%val$70MNational Fuel Gas COthis Q New·—1q
- 34ZBHport2.1%val$68MZimmer Biomet Holdings Incthis Q -24%·7q
- 35GPCport2.1%val$68MGenuine Parts COthis Q New·—1q
- 36ORCLport2.1%val$67MOracle Corpthis Q New·29q
- 37MDTport2.0%val$66MMedtronic, Plcthis Q hold·2q
- 38KDport0.9%val$28MKyndryl Holdings Incthis Q -40%·4q
- 39PKGport0.4%val$15MPackaging Corp OF Americathis Q hold·3q
- 40CVXport0.1%val$2MChevron Corpthis Q +37%·6q
Beyond the 13F
as of 2026-06-30Across Harry Burn’s registered funds — $995M disclosed in SEC Form N-PORT — just 97.4% sits in US-listed equity, the only slice a 13F reports. The other $26M is cash — none of which a 13F can show.
Where the hidden money is
Largest positions no 13F shows
| First American Government Obligations Fund · United States · USD | $26M |
From SEC Form N-PORT, which registered funds file with their full portfolio — every currency, asset class and short. Covers 1 fund. The percentage above is the composition of those funds, not a ratio between two filings: a 13F spans every discretionary account but only US-listed securities, while N-PORT covers only the registered funds but every asset inside them — different universes, so the totals are not comparable (the 13F itself reports $3.25B for 2026-06-30). None of this feeds the backtest above, which stays a pure 13F clone.
2026Q2 moves, by size (29)(expand ↓)
| Ticker | Issuer | Move | % Port. | Δ Shares | Value |
|---|---|---|---|---|---|
| LUV | Southwest Airlines CO | ADD | 3.9% | +22% | $126M |
| MRVL | Marvell Technology Inc | EXIT | 3.8% | -100% | $0 |
| AAL | American Airlines Group Inc | NEW | 3.3% | +100% | $108M |
| ZBH | Zimmer Biomet Holdings Inc | TRIM | 2.1% | -24% | $68M |
| QCOM | Qualcomm Inc | ADD | 3.1% | +29% | $101M |
| C | Citigroup Inc | TRIM | 2.7% | -20% | $86M |
| ELV | Elevance Health Inc | NEW | 2.9% | +100% | $94M |
| PFE | Pfizer Inc | ADD | 2.8% | +33% | $92M |
| VST | Vistra Corp | ADD | 2.8% | +20% | $92M |
| TEL | TE Connectivity Plc | NEW | 2.8% | +100% | $90M |
| QXO | Qxo Inc | ADD | 2.8% | +32% | $90M |
| CSX | Csx Corp | TRIM | 2.2% | -26% | $70M |
| NXPI | Nxp Semiconductors NV | TRIM | 2.5% | -30% | $81M |
| EQT | Eqt Corp | ADD | 2.6% | +27% | $83M |
| BP | BP Plc-spons Adr | ADD | 2.5% | +34% | $83M |
| SW | Smurfit Westrock Public Limited Company | ADD | 2.6% | +22% | $85M |
| TMO | Thermo Fisher Scientific Inc | NEW | 2.6% | +100% | $83M |
| OMC | Omnicom Group | ADD | 2.5% | +34% | $82M |
| CTRA | Coterra Energy Inc | EXIT | 2.5% | -100% | $0 |
| M22465104 | Check Point Software Technologies Ltd. | EXIT | 2.5% | -100% | $0 |
| ACI | Albertsons Cos Inc - Class A | EXIT | 2.4% | -100% | $0 |
| ICLR | Icon Plc | EXIT | 2.3% | -100% | $0 |
| KMI | Kinder Morgan Inc | EXIT | 2.2% | -100% | $0 |
| NFG | National Fuel Gas CO | NEW | 2.1% | +100% | $70M |
| GPC | Genuine Parts CO | NEW | 2.1% | +100% | $68M |
| ORCL | Oracle Corp | NEW | 2.1% | +100% | $67M |
| Y2573F102 | Flex Ltd. | EXIT | 2.0% | -100% | $0 |
| KD | Kyndryl Holdings Inc | TRIM | 0.9% | -40% | $28M |
| CVX | Chevron Corp | ADD | 0.1% | +37% | $2M |
- ADDLUV3.9%Southwest Airlines COΔ +22%·$126M
- EXITMRVL3.8%Marvell Technology IncΔ -100%·$0
- NEWAAL3.3%American Airlines Group IncΔ +100%·$108M
- TRIMZBH2.1%Zimmer Biomet Holdings IncΔ -24%·$68M
- ADDQCOM3.1%Qualcomm IncΔ +29%·$101M
- TRIMC2.7%Citigroup IncΔ -20%·$86M
- NEWELV2.9%Elevance Health IncΔ +100%·$94M
- ADDPFE2.8%Pfizer IncΔ +33%·$92M
- ADDVST2.8%Vistra CorpΔ +20%·$92M
- NEWTEL2.8%TE Connectivity PlcΔ +100%·$90M
- ADDQXO2.8%Qxo IncΔ +32%·$90M
- TRIMCSX2.2%Csx CorpΔ -26%·$70M
- TRIMNXPI2.5%Nxp Semiconductors NVΔ -30%·$81M
- ADDEQT2.6%Eqt CorpΔ +27%·$83M
- ADDBP2.5%BP Plc-spons AdrΔ +34%·$83M
- ADDSW2.6%Smurfit Westrock Public Limited CompanyΔ +22%·$85M
- NEWTMO2.6%Thermo Fisher Scientific IncΔ +100%·$83M
- ADDOMC2.5%Omnicom GroupΔ +34%·$82M
- EXITCTRA2.5%Coterra Energy IncΔ -100%·$0
- EXITM224651042.5%Check Point Software Technologies Ltd.Δ -100%·$0
- EXITACI2.4%Albertsons Cos Inc - Class AΔ -100%·$0
- EXITICLR2.3%Icon PlcΔ -100%·$0
- EXITKMI2.2%Kinder Morgan IncΔ -100%·$0
- NEWNFG2.1%National Fuel Gas COΔ +100%·$70M
- NEWGPC2.1%Genuine Parts COΔ +100%·$68M
- NEWORCL2.1%Oracle CorpΔ +100%·$67M
- EXITY2573F1022.0%Flex Ltd.Δ -100%·$0
- TRIMKD0.9%Kyndryl Holdings IncΔ -40%·$28M
- ADDCVX0.1%Chevron CorpΔ +37%·$2M
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.
2026Q2 brief
Harry Burn's Sound Shore posted a busy Q2 2026 with six new positions and six full exits across a $3.25B, 40-stock book. The splashiest moves were initiating AAL (3.3% of portfolio) and ELV (2.9%), while simultaneously exiting MRVL (previously 3.8%) and Check Point Software (2.5%) — a clear rotation away from tech/cybersecurity toward beaten-down airlines and managed care. The semiconductor trimming theme extends further: NXPI was cut ~30% and QCOM was simultaneously added ~29%, suggesting Burn is concentrating semiconductor exposure in higher-conviction, cheaper names rather than exiting the sector wholesale. New positions in TEL, TMO, NFG, and GPC reinforce a value-with-catalyst tilt across industrials, healthcare tools, and energy infrastructure — all classically out-of-favor areas for a deep-value shop. On the add side, PFE (+33%) and QXO (+32%) show Burn leaning into turnaround stories the market still doubts. The aggressive liquidation of KD (−40%) and ICLR signals impatience with technology services laggards. Watch whether AAL — now a top-5 holding — gets further built or proves a quick trade in the Q3 filing.
AI-generated. Not investment advice.
Filing history
Harry Burn's disclosed 13F portfolio value and position count by quarter — the trajectory across every SEC filing.
| Quarter | Positions | Portfolio value |
|---|---|---|
| Q2 2026 — what changed → | 40 | $3.25B |
| Q1 2026 — what changed → | 40 | $2.98B |
| Q4 2025 — what changed → | 37 | $3.14B |
| Q3 2025 — what changed → | 38 | $3.03B |
| Q2 2025 — what changed → | 36 | $2.93B |
| Q1 2025 — what changed → | 37 | $2.85B |
| Q4 2024 holdings | 40 | $3.03B |
| Q3 2024 holdings | 40 | $3.07B |
| Q2 2024 holdings | 39 | $3.00B |
| Q1 2024 holdings | 38 | $3.20B |
| Q4 2023 holdings | 36 | $2.88B |
| Q3 2023 holdings | 38 | $2.61B |
Values as disclosed at each quarter end. Older filings on EDGAR.
Multibaggers Harry Burn held
Stocks up 5x or more since Harry Burn first held them at conviction size — the holding record behind the returns. Longest unbroken run and largest book weight are shown for each.
- MU39.9xMICRON TECHNOLOGY INC6q straight · peak 3.24%
- AMAT30.6xAPPLIED MATERIALS INC28q straight · peak 3.73%
- AMZN13.8xAMAZON.COM INC1q straight · peak 2.64% · still holds
- VST11.4xVISTRA CORP16q straight · peak 4.63% · still holds
- MSFT11.2xMICROSOFT CORP20q straight · peak 3.32%
- GOOGL10.1xALPHABET INC-CL A29q straight · peak 3.48% · still holds
Six biggest of 15. Price multiple since the first quarter we observed a conviction holding (2014Q1 at the earliest), not Harry Burn's realized return — entry price and trades between filings aren't disclosed. Peak weight is share of disclosed US 13F book. All 129 multibaggers the cohort held →
Frequently asked questions
- What stocks does Harry Burn own?
- As of 2026Q2, Harry Burn's 13F discloses 40 positions worth $3.25B. The top five holdings: TEVA (4.0%), LUV (3.9%), BAC (3.6%), AAL (3.3%), BRK/B (3.1%). 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 2026Q2, the filing shows 7 new positions and 10 additions to existing holdings. The largest positions touched by buying: LUV, AAL, QCOM, ELV, PFE.
- How big is Harry Burn's portfolio?
- $3.25B across 40 positions per the latest 13F (filed Aug 12, 2026). The top five holdings account for 18% of the disclosed book.
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Long US equity 13F-HR filings only — no shorts, no derivatives. SEC filings at EDGAR (CIK 0000820124). Not investment advice.