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Harry Burn
Sound Shore
2026Q1 · filed May 7, 202640 positions · $2.98Btop-5 18%
2026Q1 brief
Sound Shore's $2.98B value-oriented, diversified book saw sweeping turnover in 2026Q1, with six full exits including CRM (3.2%), AES (3.1%), and FIS (2.9%) — shedding fintech, utilities, and software simultaneously. In their place, Burn initiated six new positions including NXP Semiconductors (2.7%), PFE (2.7%), AMZN (2.6%), VST (2.4%), UPS (2.4%), and Medtronic (2.4%), a broadly diversified re-deployment that reflects Sound Shore's disciplined valuation-driven rotation rather than a concentrated thematic bet. The adds to BAC (+31% to 3.4%) and ZBH (+24% to 3.2%) reinforce conviction in financials and medical devices. Notably, trimming CTRA (-35%), KMI (-44%), and GOOGL (-27%) while adding VST suggests a nuanced energy and tech repositioning. The portfolio remains deliberately balanced with no single name exceeding 4%, consistent with Burn's risk-managed style. Watch whether the new PFE and Medtronic positions are sizing plays — both are deeply out-of-favor pharma/medtech names that fit Sound Shore's contrarian value DNA.
AI-generated. Not investment advice.
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 |
Sort↑
- 1TEVA3.9%$117MTeva Pharmaceutical-sp Adrthis Q hold·11q
- 2REGN3.9%$117MRegeneron Pharmaceuticalsthis Q hold·3q
- 3MRVL3.8%$114MMarvell Technology Incthis Q hold·3q
- 4BAC3.4%$101MBank OF America Corpthis Q +31%·31q
- 5BRK/B3.2%$96MBerkshire Hathaway Inc-cl Bthis Q hold·40q
- 6ZBH3.2%$95MZimmer Biomet Holdings Incthis Q +24%·6q
- 7DIS3.1%$94MWalt Disney Co/thethis Q hold·8q
- 8C2.9%$88MCitigroup Incthis Q hold·26q
- 9GEHC2.8%$85MGE Healthcare Technologythis Q hold·13q
- 10CSX2.8%$82MCsx Corpthis Q hold·6q
- 11NXPI2.7%$81MNxp Semiconductors NVthis Q New·27q
- 12PFE2.7%$81MPfizer Incthis Q New·34q
- 13PEG2.7%$80MPublic Service Enterprise GPthis Q -28%·8q
- 14AMZN2.6%$79MAmazon.com Incthis Q New·—1q
- 15EQT2.6%$79MEqt Corpthis Q hold·12q
- 16BP2.6%$79MBP Plc-spons Adrthis Q hold·18q
- 17GM2.6%$77MGeneral Motors COthis Q hold·20q
- 18QXO2.6%$76MQxo Incthis Q hold·2q
- 19LUV2.5%$75MSouthwest Airlines COthis Q -21%·6q
- 20CTRA2.5%$75MCoterra Energy Incthis Q -35%·17q
- 21M224651042.5%$74MCheck Point Software Technologies Ltd.this Q +22%·8q
- 22GOOGL2.5%$74MAlphabet Inc-cl Athis Q -27%·31q
- 23INCY2.4%$72MIncyte Corpthis Q hold·7q
- 24VST2.4%$72MVistra Corpthis Q New·17q
- 25WFC2.4%$72MWells Fargo & COthis Q hold·21q
- 26UPS2.4%$72MUnited Parcel Service-cl Bthis Q New·—1q
- 27MDT2.4%$72MMedtronic, Plcthis Q New·—1q
- 28BA2.4%$71MBoeing Co/thethis Q New·6q
- 29ACI2.4%$70MAlbertsons Cos Inc - Class Athis Q hold·4q
- 30ICLR2.3%$69MIcon Plcthis Q New·—1q
- 31KMI2.2%$64MKinder Morgan Incthis Q -44%·16q
- 32OC2.1%$64MOwens Corningthis Q New·—1q
- 33OMC2.1%$63MOmnicom Groupthis Q New·—1q
- 34MHK2.1%$63MMohawk Industries Incthis Q hold·7q
- 35Y2573F1022.0%$61MFlex Ltd.this Q hold·33q
- 36SW2.0%$60MSmurfit Westrock Public Limited Companythis Q New·—1q
- 37QCOM1.8%$55MQualcomm Incthis Q -28%·3q
- 38KD1.8%$54MKyndryl Holdings Incthis Q +39%·3q
- 39PKG0.4%$12MPackaging Corp OF Americathis Q New·2q
- 40CVX0.1%$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
Long US equity 13F-HR filings only — no shorts, no derivatives. SEC filings at EDGAR (CIK 0000820124). Not investment advice.