Sound Shore

Q1 2026 13F · by John DeGulis, portfolio manager

As of: Mar 31, 2026
Filed: May 7, 2026
US stock: $3.0B · prev $3.1B
Positions: 40 · prev 37
Options notional: $0
Documents: 1· no amendments

Picture100.0% US stock

Full picture · of what this 13F reports is US stock

US stock listed on a US exchange 100.0%
Foreign stock not listed in the US 0.0%
Notes debt, at principal 0.0%
Puts at notional value 0.0%
Calls at notional value 0.0%

Moves50 since the prior filing

+28.3 pp in · −28.3 pp out

New 13 +26.72 pp
Added 7 +1.57 pp
Trimmed 20 −6.56 pp
Exited 10 −21.74 pp

The book

Focused · behaves like 37 equal-sized positions

Very concentrated
Concentrated
Focused
Diversified

High turnover · 120% a year, about 0.8 years per position

Low
Moderate
High

Top 5 positions18% of US stock

TEVA Teva Pharmaceutical Industries Limited trimmed−0.36 pp trimmed−0.363.9%
REGN Regeneron Pharmaceuticals Inc trimmed−0.41 pp trimmed−0.413.9%
MRVL Marvell Technology, Inc. added+1.07 pp added+1.073.8%
BAC Bank of America Corporation added+0.61 pp added+0.613.4%
BRK.B BERKSHIRE HATHAWAY Class B trimmed−0.16 pp trimmed−0.163.2%

Positions40 in this filing · 10 exited


TEVATeva Pharmaceutical Industries Limited	3.92%	3,885,683	$117M	trimmed−10%	−0.36 pp	11 q
REGNRegeneron Pharmaceuticals Inc	3.91%	150,960	$117M	trimmed−14%	−0.41 pp	3 q
MRVLMarvell Technology, Inc.	3.81%	1,148,590	$114M	added+13%	+1.07 pp	3 q
BACBank of America Corporation	3.37%	2,065,582	$101M	added+31%	+0.61 pp	4 q
BRK.BBERKSHIRE HATHAWAY Class B	3.20%	199,485	$96M	trimmed−5%	−0.16 pp	25 q
ZBHZimmer Biomet Holdings, Inc.	3.19%	1,052,202	$95M	added+24%	+0.76 pp	6 q
DISThe Walt Disney Company	3.13%	970,436	$94M	added+1%	−0.34 pp	8 q
CCitigroup Inc.	2.94%	773,599	$88M	trimmed−2%	+0.01 pp	6 q
GEHCGE HealthCare Technologies Inc.	2.85%	1,192,741	$85M	added+17%	+0.19 pp	13 q
CSXCSX Corporation	2.75%	2,002,159	$82M	trimmed−17%	−0.02 pp	6 q
NXPINXP Semiconductors N.V.	2.71%	410,653	$81M	new	+2.71 pp	new
PFEPfizer Inc.	2.70%	2,870,421	$81M	new	+2.70 pp	new
PEGPublic Service Enterprise Group Incorporated	2.67%	984,658	$80M	trimmed−28%	−0.81 pp	8 q
AMZNAmazon.Com Inc	2.64%	378,875	$79M	new	+2.64 pp	new
EQTEqt Corp	2.64%	1,235,565	$79M	trimmed−19%	+0.05 pp	4 q
BPBP p.l.c.	2.63%	1,671,683	$79M	trimmed−14%	+0.47 pp	2 q
GMGeneral Motors Company	2.59%	1,037,362	$77M	trimmed−3%	−0.17 pp	17 q
QXOQXO, Inc.	2.56%	3,929,810	$76M	trimmed−2%	+0.10 pp	2 q
LUVSouthwest Airlines Co.	2.52%	2,001,977	$75M	trimmed−21%	−0.80 pp	6 q
CTRACoterra Energy Inc.	2.51%	2,128,868	$75M	trimmed−35%	−0.23 pp	7 q
CHKPCheck Point Software Technologies Ltd	2.48%	518,529	$74M	added+22%	−0.03 pp	3 q
GOOGLAlphabet Inc. Class A	2.46%	255,671	$74M	trimmed−27%	−1.02 pp	4 q
INCYIncyte Genomics Inc	2.42%	767,829	$72M	trimmed−17%	−0.50 pp	7 q
VSTVistra Corp.	2.42%	479,762	$72M	new	+2.42 pp	new
WFCWells Fargo & Co.	2.41%	902,430	$72M	trimmed−2%	−0.32 pp	20 q
UPSUnited Parcel Service, Inc. Class B	2.40%	728,066	$72M	new	+2.40 pp	new
MDTMedtronic plc	2.40%	825,239	$72M	new	+2.40 pp	new
BABoeing Company	2.37%	355,009	$71M	new	+2.37 pp	new
ACIAlbertsons Companies, Inc.	2.36%	4,134,360	$70M	trimmed−9%	−0.12 pp	4 q
ICLRIcon Plc	2.32%	626,958	$69M	new	+2.32 pp	new
KMIKinder Morgan, Inc.	2.15%	1,914,405	$64M	trimmed−44%	−0.82 pp	16 q
OCOwens Corning	2.15%	592,330	$64M	new	+2.15 pp	new
OMCOmnicom Group Inc.	2.13%	842,962	$63M	new	+2.13 pp	new
MHKMohawk Industries, Inc.	2.12%	642,537	$63M	trimmed−1%	−0.14 pp	5 q
FLEXFlex Ltd.	2.03%	924,882	$61M	trimmed−9%	+0.07 pp	23 q
SWSmurfit Westrock plc	2.02%	1,509,136	$60M	new	+2.02 pp	new
QCOMQualcomm Inc	1.83%	424,796	$55M	trimmed−28%	−1.38 pp	3 q
KDKyndryl Holdings, Inc.	1.82%	4,147,984	$54M	added+39%	−0.69 pp	3 q
PKGPackaging Corp of America	0.39%	54,750	$12M	new	+0.39 pp	new
CVXChevron Corporation	0.07%	9,855	$2M	new	+0.07 pp	new
CRMSalesforce, Inc.	—	−378,539	—	exited	−3.19 pp	—
AESAES Corporation	—	−6,898,342	—	exited	−3.15 pp	—
FISFidelity National Information Services, Inc.	—	−1,384,040	—	exited	−2.93 pp	—
COFCapital One Financial	—	−365,756	—	exited	−2.82 pp	—
WTWWillis Towers Watson Public Limited Company	—	−226,119	—	exited	−2.36 pp	—
AMATApplied Materials Inc	—	−280,589	—	exited	−2.29 pp	—
HIIHuntington Ingalls Industries, Inc.	—	−204,283	—	exited	−2.21 pp	—
BBarrick Mining Corporation	—	−1,155,678	—	exited	−1.60 pp	—
WBDWarner Bros. Discovery, Inc. Series A	—	−990,615	—	exited	−0.91 pp	—
NEMNewmont Corporation	—	−88,665	—	exited	−0.28 pp	—

Source

Form: 13F-HR
Reading: 0 defects · 0 unresolved
Accession: 0001193125-26-211648
Options: none in this filing
Notes: none in this filing
SEC cross-check: SEC data set not published yet

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