The curated database of hedge funds that publish investor letters. Research by geography, strategy, and schools of thought.
| # | Fund | Strategy | Style | Geography | AUM | Latest Letter |
|---|---|---|---|---|---|---|
As of Nov 9, 2026
The Sound Shore Fund Investor Class (SSHFX) and Institutional Class (SSHVX) declined 1.37% and 1.34% net of fees, respectively, in the third quarter of 2026, lagging the Russell 1000 Value Index gain of 2.61% and the S&P 500 Index return of 2.30%. The strategy maintained a value-disciplined posture, carrying an average twelve-month forward price-to-earnings multiple of 12.7 times relative to 16.4 times for the Russell 1000 Value and 18.7 times for the S&P 500. Macroeconomic performance was shaped by sharp market bifurcation and equity concentration, where technology weightings accounted for over 20% of the Russell 1000 Value Index while the median constituent gained less than 1% year-to-date. Concurrently, U.S. Treasury yields ascended across maturities, with the 10-year yield touching 5.29%, catalyzing algorithmic selling in interest-rate-sensitive equities amid geopolitical uncertainty, elevated oil prices, and pending midterm elections. Portfolio activity centered on capital deployment into contrarian opportunities and corporate restructurings across healthcare, industrial distribution, and energy. Sound Shore initiated a position in Thermo Fisher Scientific following inventory destocking headwinds, scaled building products distributor QXO under Brad Jacobs' operational rollout, and benefited from restructuring initiatives and capital return targets at Southwest Airlines and BP.
Sound Shore invests in cash-flow-resilient businesses with sound balance sheets and disciplined management teams capable of compounding intrinsic value through elevated capital costs and economic cycles at compelling discounts to intrinsic value.
Sound Shore expects equity market clarity to improve following the resolution of U.S. midterm elections and anticipates significant long-term value compounding from resilient, cash-generative franchises trading at a steep discount to historical multiples.
Moderate Conviction Bullish
Market Conviction
Growth Outlook
Risk Appetite
Capital Deployment
Forward Guidance
Language Signal
Perceived Risk
Opportunity Density
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Top Conviction Themes
Key Catalysts
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