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 |
Y
Alleghany Corp
Y
|
+$91.7M |
| 2 |
Cisco
CSCO
|
+$83.6M |
| 3 |
Cigna
CI
|
+$80.4M |
| 4 |
Verizon
VZ
|
+$79.5M |
| 5 |
Analog Devices
ADI
|
+$72.6M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Delta Air Lines
DAL
|
+$143M |
| 2 |
Sabre
SABR
|
+$140M |
| 3 |
American International
AIG
|
+$139M |
| 4 |
General Motors
GM
|
+$132M |
| 5 |
JetBlue
JBLU
|
+$102M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Healthcare | 26.13% |
| 2 | Financials | 24.92% |
| 3 | Technology | 20.63% |
| 4 | Communication Services | 9.59% |
| 5 | Consumer Staples | 6.73% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
26
Aon
AON
$75.3B
| $61M | 2.13% |
369,894
-44,264
| -11% | -$9.06M |
|
27
Capital One
COF
$134B
| $60.6M | 2.11% |
1,202,699
-650,647
| -35% | -$57.2M |
|
|
28
Analog Devices
ADI
$182B
| $59.5M | 2.07% |
+664,102
| New | +$72.6M |
|
29
TotalEnergies
TTE
$199B
| $58.9M | 2.05% |
1,580,463
-992,594
| -39% | -$44.6M |
|
30
NXP Semiconductors
NXPI
$56.9B
| $58.4M | 2.04% |
704,576
-321,053
| -31% | -$37.6M |
|
31
Applied Materials
AMAT
$391B
| $58.2M | 2.03% |
1,269,788
-587,647
| -32% | -$33.8M |
|
32
Henry Schein
HSIC
$9.86B
| $54.9M | 1.91% |
+1,086,788
| New | +$68.9M |
|
33
Lam Research
LRCX
$393B
| $49.1M | 1.71% |
+2,047,710
| New | +$59M |
|
34
Wells Fargo
WFC
$254B
| $43.8M | 1.53% |
+1,526,032
| New | +$64.9M |
|
35
Aptiv
APTV
$10B
| $42.9M | 1.5% |
+872,185
| New | +$68.4M |
|
36
BP
BP
$115B
| $563K | 0.02% |
23,100
-5,050
| -18% | -$163K |
|
37
Packaging Corp of America
PKG
$22.5B
| $469K | 0.02% |
+5,400
| New | +$524K |
|
|
38
American International
AIG
$39.8B
| – | – |
-2,708,096
| Closed | -$139M |
|
39
Chubb
CB
$132B
| – | – |
-510,215
| Closed | -$79.4M |
|
|
40
Delta Air Lines
DAL
$54.2B
| – | – |
-2,448,661
| Closed | -$143M |
|
41
EQT Corp
EQT
$33.6B
| – | – |
-7,368,074
| Closed | -$80.3M |
|
|
42
General Motors
GM
$77.2B
| – | – |
-3,599,921
| Closed | -$132M |
|
|
43
JetBlue
JBLU
$1.85B
| – | – |
-5,439,457
| Closed | -$102M |
|
|
MRSH
44
Marsh
MRSH
$91.6B
| – | – |
-830,907
| Closed | -$92.6M |
|
|
PARA
45
DELISTED
Paramount Global Class B
PARA
| – | – |
-2,397,548
| Closed | -$101M |
|
|
46
Sabre
SABR
$848M
| – | – |
-6,252,296
| Closed | -$140M |
|
Similar funds
Harry Burn's Q1 2020 Portfolio in Review
As of Q1 2020, Harry Burn held 46 positions worth $2.87B, down 33% from $4.28B the previous quarter. Its ten largest holdings account for 39% of the portfolio.
Harry Burn withdrew a net $474M in Q1 2020, closing 9 positions and reducing 16 holdings. Its most notable exit was Delta Air Lines, an estimated $143M position sold in full.
By sector, the portfolio is most concentrated in Healthcare at 26% of assets, up from 17% a quarter earlier, followed by Financials and Technology.
Against the trend, Harry Burn opened a new position in Alleghany Corp worth $70.4M.
- Harry Burn's largest Q1 2020 buy was Alleghany Corp: 127,452 shares worth $70.4M.
- Harry Burn added most to Pfizer in Q1 2020, an estimated $38.5M increase.
- Harry Burn's biggest Q1 2020 reduction was Capital One, cutting an estimated $57.2M.
- Harry Burn fully exited Delta Air Lines in Q1 2020, selling an estimated $143M.
- Harry Burn's ten largest holdings make up 39% of its $2.87B portfolio in Q1 2020.
- Harry Burn opened 10 new positions and closed 9 in Q1 2020.
- Harry Burn's portfolio value fell 33% quarter-over-quarter to $2.87B.
Based on Sound Shore Management's 13F filing for Q1 2020, filed 5 May 2020.