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Harry Burn - Sound Shore Q4/2011 Portfolio

Harry Burn - Sound Shore Q4/2011 Fund Investing Strategies By Dividend Yield – Stock Capital, Investment. Here is a current portfolio update of Harry Burn’s - Sound Shore - portfolio movements as of Q4/2011 (December 31, 2011). In total, he has 40 stocks with a total portfolio worth of USD 1,553,526,000.


Strategy:
Investments are based on fundamental and detailed research and analysis, with particular emphasis on stocks with low absolute and relative P/E ratios:

- From a starting universe of the 1,250 largest U.S. equities, we methodically identify the least expensive based upon absolute P/E and P/E versus a company’s historic norms.
- The opportunity set of approximately 250 are subjected to our “value check” process which confirms valuation attractiveness.
- We then conduct thorough fundamental research on the resulting list of 80-100 companies, which typically includes visits and conversations with company management, competitors, customers, analysts, etc.
- We develop our own earnings, cash flow, and balance sheet models and cross check our own normalized estimates with company management and also with Wall Street analysts.
- We prepare detailed valuation models to develop price objectives.

We sell a stock if the company fails to meet our fundamental performance objectives or when it reaches our price target.

Harry Burn’s - Sound Shore - positions as of Q4/2011 with actual share movements:
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Sym - Stock
Portfolio Weight
Recent activity
Reported Price*
SUN - Sunoco Inc.
3.61
Add 1.49%
$41.02
TWX - Time Warner Inc.
3.6
Reduce 5.82%
$36.14
CVS - CVS Caremark Corp.
3.32
Reduce 5.92%
$40.78
ABT - Abbott Labs
3.27
Reduce 4.86%
$56.23
V - Visa Inc.
3.24
Reduce 3.53%
$101.53
IVZ - Invesco Plc
3.2
Add 2.65%
$20.09
MSFT - Microsoft Corp.
3.16
Reduce 17.99%
$25.96
EXC - Exelon Corp.
3.09
0
$43.37
AES - AES Corp.
3.06
Reduce 3.27%
$11.84
PFE - Pfizer Inc.
3.03
Reduce 3.75%
$21.64
WMT - Wal-Mart Stores
3
0
$59.76
TXN - Texas Instruments
3
Reduce 6.16%
$29.11
STT - State Street Corp.
2.98
Add 23.82%
$40.31
LOW - Lowe's Cos.
2.96
Add 32.72%
$25.38
DVN - Devon Energy Corp.
2.93
Add 82.08%
$62.00
CMCSA - Comcast Corp.
2.87
Reduce 7.25%
$23.71
MMC - Marsh & McLennan
2.82
Reduce 3.09%
$31.62
LIFE - Life Technologies Corp.
2.77
Buy
$38.91
SNY - Sanofi Aventis
2.72
Add 2.46%
$36.54
PG - Procter & Gamble
2.68
Buy
$66.71
C - Citigroup Inc.
2.65
Reduce 9.62%
$26.31
WFT - Weatherford International Ltd.
2.6
Add 86.97%
$14.64
LUV - Southwest Airlines
2.53
Add 12.85%
$8.56
MET - MetLife Inc.
2.52
Add 5.58%
$31.18
NVS - Novartis AG
2.51
Add 16.28%
$57.17
GM - General Motors
2.43
Reduce 4.16%
$20.27
SCHW - Charles Schwab
2.42
Add 18.19%
$11.26
FLEX - Flextronics International Ltd.
2.37
Reduce 3.95%
$5.66
SYMC - Symantec Corp.
2.3
Reduce 6.07%
$15.65
AMAT - Applied Materials
2.13
Reduce 15.94%
$10.71
SYY - Sysco Corp.
2.07
Buy
$29.33
CS - Credit Suisse Group
2.01
Add 2.82%
$23.48
BAC - Bank of America Corp.
1.9
Reduce 4.95%
$5.56
DAL - Delta Air Lines Inc.
1.89
Reduce 5.39%
$8.09
OI - Owens-Illinois Inc.
1.85
Reduce 17.97%
$19.38
CTAS - Cintas Corp.
1.16
Buy
$34.81
PEG - Public Serv. Enterprise Inc.
1.05
Reduce 49.61%
$33.01
LYB - LyondellBasell Industries
1.01
Reduce 63.49%
$32.49
ABX - Barrick Gold Corp.
0.94
Buy
$45.25
UNH - United Health Group Inc.
0.38
Buy
$50.68





Related Stock Ticker:
MSFT, TWX, ABT, EXC, TXN, CVS, C, V, CMCSA, SUN, AES, WMT, PFE, SYMC, GM, FLEX, AMAT, MMC, IVZ, SNY, BAC, CS, MET, LUV, NVS, EG, LYB, SCHW, STT, DAL, OI, LOW, DVN, WFT, LIFE, PG, SYY, CTAS, ABX, UNH

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