Harry Burn Sound Shore Management
Harry Burn is a co-founder of Sound Shore Management, a firm focused on large-cap value equities selected through fundamental research. Sound Shore is known for a disciplined valuation process and a relatively compact list of portfolio holdings. The firm is often cited among long-standing institutional value managers with a public-markets track record.
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
UnitedHealth
UNH
|
+$143M |
| 2 |
Perrigo
PRGO
|
+$138M |
| 3 |
SIVB
SVB Financial Group
SIVB
|
+$67M |
| 4 |
EQT Corp
EQT
|
+$38.1M |
| 5 |
General Motors
GM
|
+$32.4M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
AGN
Allergan plc
AGN
|
+$155M |
| 2 |
Pfizer
PFE
|
+$137M |
| 3 |
ETRN
Equitrans Midstream Corporation Common Stock
ETRN
|
+$121M |
| 4 |
Exelon
EXC
|
+$62M |
| 5 |
American International
AIG
|
+$61.6M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 30.52% |
| 2 | Healthcare | 16.13% |
| 3 | Technology | 15.84% |
| 4 | Industrials | 10.95% |
| 5 | Communication Services | 9.17% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
26
Walmart Inc
WMT
$825B
| $105M | 2.17% |
2,642,943
-478,899
| -15% | -$18.1M |
|
|
MRSH
27
Marsh
MRSH
$91.6B
| $104M | 2.17% |
1,043,604
-101,156
| -9% | -$10.1M |
|
28
Microsoft
MSFT
$3.59T
| $104M | 2.16% |
746,888
-40,556
| -5% | -$5.58M |
|
29
Mondelez International
MDLZ
$82.3B
| $102M | 2.13% |
1,849,718
-228,483
| -11% | -$12.5M |
|
30
nVent Electric
NVT
$24.6B
| $98.9M | 2.05% |
4,486,319
-117,532
| -3% | -$2.64M |
|
31
Chubb
CB
$132B
| $96.9M | 2.01% |
600,040
-139,559
| -19% | -$21.6M |
|
|
32
EQT Corp
EQT
$33.6B
| $92.7M | 1.93% |
8,712,137
+2,959,535
| +51% | +$38.1M |
|
33
Elanco Animal Health
ELAN
$12B
| $92.4M | 1.92% |
3,476,480
-107,294
| -3% | -$3.22M |
|
34
Mohawk Industries
MHK
$9.23B
| $79.5M | 1.65% |
641,036
-65,169
| -9% | -$8.37M |
|
|
SIVB
35
DELISTED
SVB Financial Group
SIVB
| $66.8M | 1.39% |
+319,573
| New | +$67M |
|
36
BP
BP
$115B
| $940K | 0.02% |
24,750
-417
| -2% | -$15.9K |
|
|
37
Exelon
EXC
$45.1B
| – | – |
-1,812,849
| Closed | -$62M |
|
|
38
Pfizer
PFE
$160B
| – | – |
-3,336,692
| Closed | -$137M |
|
|
ETRN
39
DELISTED
Equitrans Midstream Corporation Common Stock
ETRN
| – | – |
-6,122,989
| Closed | -$121M |
|
|
AGN
40
DELISTED
Allergan plc
AGN
| – | – |
-927,794
| Closed | -$155M |
|
Similar funds
Harry Burn's Q3 2019 Portfolio in Review
As of Q3 2019, Harry Burn held 40 positions worth $4.81B, down 6.7% from $5.16B the previous quarter. Its ten largest holdings account for 38% of the portfolio.
Harry Burn withdrew a net $257M in Q3 2019, closing 4 positions and reducing 25 holdings. Its most notable exit was Allergan plc, an estimated $155M position sold in full.
By sector, the portfolio is most concentrated in Financials at 31% of assets, up from 30% a quarter earlier, followed by Healthcare and Technology.
Against the trend, Harry Burn opened a new position in UnitedHealth worth $129M.
- Harry Burn's largest Q3 2019 buy was UnitedHealth: 592,464 shares worth $129M.
- Harry Burn added most to EQT Corp in Q3 2019, an estimated $38.1M increase.
- Harry Burn's biggest Q3 2019 reduction was American International, cutting an estimated $61.6M.
- Harry Burn fully exited Allergan plc in Q3 2019, selling an estimated $155M.
- Harry Burn's ten largest holdings make up 38% of its $4.81B portfolio in Q3 2019.
- Harry Burn opened 3 new positions and closed 4 in Q3 2019.
- Harry Burn's portfolio value fell 6.7% quarter-over-quarter to $4.81B.
Based on Sound Shore Management's 13F filing for Q3 2019, filed 8 Nov 2019.