Key Points
- Sound Shore Management's Q1 2023 portfolio is valued at $2.58 billion, down from $2.66 billion in the previous quarter.
- The portfolio contains 35 stocks, with a diverse range of industries and sectors represented.
- The decrease in value can be attributed to several factors, including market volatility and changes in investor sentiment.
- Despite the decrease, Sound Shore Management remains optimistic about the long-term prospects of their holdings.
Sound Shore Management Inc, a New York-based investment management firm, has reported its Q1 2023 portfolio with a total value of 2.58 billion dollars. The portfolio is distributed across 35 different stocks, and it shows a decrease of 85.1 million dollars in the current position value, down to 2.58 billion dollars from 2.66 billion dollars.
The decrease in the value of the portfolio can be attributed to various factors such as market volatility, changes in the investment strategies, and macroeconomic conditions. However, despite the decrease in the value, the portfolio is still well-diversified with a mix of stocks from different sectors, including healthcare, technology, financials, consumer goods, and energy.
The Definition of the Portfolio
The healthcare sector makes up the largest share of Sound Shore Management's portfolio, with a total of seven stocks, accounting for 27% of the portfolio's value. Among the top holdings in this sector are companies that are focused on medical equipment, biotechnology, and pharmaceuticals. These companies are expected to continue to benefit from an aging population and increased demand for innovative healthcare solutions.
The technology sector is another important part of the Sound Shore Management portfolio, accounting for 22% of the total value. The firm has invested in companies that are focused on software development, semiconductor manufacturing, and electronics manufacturing. These companies are well-positioned to benefit from the ongoing shift towards a digital economy and increased adoption of cloud-based services.
The financial sector also features prominently in the portfolio, with 17% of the total value. The firm has invested in a variety of companies in this sector, including banks, insurance companies, and asset management firms. The financial sector is expected to benefit from the ongoing economic recovery and the anticipated rise in interest rates.
The consumer goods sector accounts for 14% of the portfolio's value, with holdings in companies that produce food and beverages, personal care products, and household goods. These companies are expected to benefit from continued demand for their products, particularly in emerging markets.
Finally, the energy sector accounts for 12% of the portfolio's value, with holdings in companies that are involved in the exploration, production, and distribution of oil and gas. Despite the ongoing shift towards renewable energy, the firm believes that oil and gas will continue to play a significant role in the global energy mix for many years to come.
Top holding
- FLEX (4.44% of portfolio) - A multinational electronics manufacturing services company that offers design, engineering, and manufacturing services to various industries.
- ORCL (4.37% of portfolio) - A computer technology corporation that provides database software, cloud engineering systems, and enterprise software products.
- VST (4.2% of portfolio) - A company that specializes in electricity generation, transmission, and distribution services to customers in Texas.
- PFE (3.87% of portfolio) - One of the world's largest pharmaceutical companies that researches, develops, and manufactures drugs and vaccines for a wide range of diseases and medical conditions.
- NXPI (3.86% of portfolio) - A semiconductor company that specializes in the design and manufacturing of high-performance mixed-signal and standard products used in automotive, industrial, and mobile applications.
Top Buys
- AVTR - A new holding for the portfolio. Avantor, Inc. is a global supplier of ultra-high-purity materials for the life sciences and advanced technology industries.
- CEG - A new holding for the portfolio. Constellation Energy Group, Inc. is a regulated utility that provides electricity and gas to customers in the northeastern United States.
- RHI - A new holding for the portfolio. Robert Half International Inc. is a global staffing and consulting firm specializing in accounting, finance, technology, legal, creative, and administrative staffing.
- CSCO - A new holding for the portfolio. Cisco Systems, Inc. is a multinational technology conglomerate that develops, manufactures, and sells networking hardware, telecommunications equipment, and other high-technology services and products.
- KHC - A new holding for the portfolio. The Kraft Heinz Company is a food and beverage conglomerate that manufactures and markets packaged food products, including condiments, cheeses, meats, and packaged meals.
