Sound Shore Fund NPORT-P Sound Shore Fund (Sep 2024 report)

1

See

Notes

to

Schedule

of

Investments.

Sound

Shore

Fund,

Inc.

SCHEDULE

OF

INVESTMENTS

(Unaudited)

September

30,

2024

Sound

Shore

Fund,

Inc.

SCHEDULE

OF

INVESTMENTS

(Unaudited)

September

30,

2024

Share

Amount

Value

Common

Stock

(96.5%)

(a)

Communication

Services

(2.8%)

The

Walt

Disney

Co.

303,045‌

$

29,149,899‌

Consumer

Discretionary

(10.6%)

Bath

&

Body

Works,

Inc.

786,530‌

25,106,037‌

General

Motors

Co.

677,540‌

30,380,894‌

Lennar

Corp.,

Class A

115,070‌

21,573,324‌

PVH

Corp.

316,760‌

31,938,911‌

108

,

999

,

166‌

Consumer

Staples

(4.8%)

The

Kraft

Heinz

Co.

601,235‌

21,109,361‌

The

Kroger

Co.

488,775‌

28,006,807‌

49

,

116

,

168‌

Energy

(7.8%)

Baker

Hughes

Co.

634,560‌

22,939,344‌

Coterra

Energy,

Inc.

1,303,500‌

31,218,825‌

Kinder

Morgan,

Inc.

1,186,710‌

26,214,424‌

80

,

372

,

593‌

Financials

(17.2%)

Berkshire

Hathaway,

Inc.,

Class B

(b)

42,475‌

19,549,543‌

Capital

One

Financial

Corp.

241,070‌

36,095,411‌

Fidelity

National

Information

Services,

Inc.

359,165‌

30,080,069‌

PayPal

Holdings,

Inc.

(b)

345,600‌

26,967,168‌

Wells

Fargo

&

Co.

569,135‌

32,150,436‌

Willis

Towers

Watson

PLC

110,575‌

32,567,655‌

177

,

410

,

282‌

2

See

Notes

to

Schedule

of

Investments.

Sound

Shore

Fund,

Inc.

SCHEDULE

OF

INVESTMENTS

(Unaudited)(Continued)

September

30,

2024

Sound

Shore

Fund,

Inc.

SCHEDULE

OF

INVESTMENTS

(Unaudited)(Continued)

September

30,

2024

Share

Amount

Value

Health

Care

(30.1%)

Avantor,

Inc.

(b)

1,159,110‌

$

29,986,176‌

Cardinal

Health,

Inc.

168,910‌

18,667,933‌

Centene

Corp.

(b)

274,875‌

20,692,590‌

CVS

Health

Corp.

368,460‌

23,168,765‌

Elevance

Health,

Inc.

39,345‌

20,459,400‌

GE

HealthCare

Technologies,

Inc.

245,805‌

23,068,799‌

Hologic,

Inc.

(b)

332,745‌

27,105,408‌

Incyte

Corp.

(b)

194,325‌

12,844,883‌

Merck

&

Co.,

Inc.

170,320‌

19,341,539‌

Organon

&

Co.

1,630,380‌

31,189,169‌

Perrigo

Co.

PLC

870,395‌

22,830,461‌

Pfizer,

Inc.

866,020‌

25,062,619‌

Teva

Pharmaceutical

Industries,

Ltd.,

ADR

(b)

1,970,620‌

35,510,572‌

309

,

928

,

314‌

Industrials

(3.8%)

FedEx

Corp.

69,430‌

19,001,602‌

Huntington

Ingalls

Industries,

Inc.

76,305‌

20,173,516‌

39

,

175

,

118‌

Information

Technology

(8.7%)

Check

Point

Software

Technologies,

Ltd.

(b)

107,913‌

20,806,706‌

Flex,

Ltd.

(b)

761,310‌

25,450,593‌

NXP

Semiconductors

NV

83,565‌

20,056,436‌

Oracle

Corp.

136,100‌

23,191,440‌

89

,

505

,

175‌

3

See

Notes

to

Schedule

of

Investments.

Sound

Shore

Fund,

Inc.

SCHEDULE

OF

INVESTMENTS

(Unaudited)(Concluded)

September

30,

2024

Share

Amount

Value

Materials

(5.4%)

Barrick

Gold

Corp.

1,537,435‌

$

30,579,582‌

CF

Industries

Holdings,

Inc.

285,295‌

24,478,311‌

55

,

057

,

893‌

Utilities

(5.3%)

Public

Service

Enterprise

Group,

Inc.

270,905‌

24,167,435‌

Vistra

Corp.

259,395‌

30,748,683‌

54

,

916

,

118‌

Total

Common

Stock

(96.5%)

(cost

$716,599,134)

993,630,726‌

Short-Term

Investments

(3.5%)

Money

Market

Fund

(

3.5%

)

First

American

Government

Obligations

Fund,

Class X,

5.22

%

(c)

35,573,016‌

35,573,016‌

Total

Short-Term

Investments

(3.5%)

(cost

$35,573,016)

35,573,016‌

Investments,

at

value

(100.0%)

(cost

$752,172,150)

$

1,029,203,742‌

Other

Assets

Less

Liabilities

(0.0%)

(d)

425,374‌

Net

Assets

(100.0%)

$

1,029,629,116‌

(a)

More

narrow

industries

are

utilized

for

compliance

purposes,

whereas

broad

sectors

are

utilized

for

reporting

purposes.

(b)

Non-income

producing

security.

(c)

Percentage

disclosed

reflects

the

money

market

fund’s

class

X

shares

7-day

yield

as

of

September

30,

2024.

(d)

Amount

represents

less

than

0.05%

of

net

assets.

ADR

American

Depositary

Receipt

PLC

Public

Limited

Company

4

Sound

Shore

Fund,

Inc.

NOTES

TO

SCHEDULE

OF

INVESTMENTS

(Unaudited)

September

30,

2024

1.

Organization

Sound

Shore

Fund,

Inc.

(the

“Fund”)

was

incorporated

under

the

laws

of

the

State

of

Maryland

on

February

15,

1985

and

is

registered

as

a

diversified,

open-end

management

investment

company

under

the

Investment

Company

Act

of

1940

(the

“Act”).

The

investment

objective

of

the

Fund

is

growth

of

capital.

The

Fund

qualifies

as

an

investment

company

as

defined

in

Financial

Accounting

Standards

Codification

946

—

Financial

Services

—

Investment

Companies.

The

total

number

of

shares

of

common

stock

which

the

Fund

is

authorized

to

issue

is

200,000,000,

par

value

$0.001

per

share

of

which

100,000,000

shares

are

designated

to

the

Investor

Class

and

100,000,000

shares

are

designated

to

the

Institutional

Class.

The

Board

of

Directors

(the

“Board”)

may,

without

shareholder

approval,

classify

or

reclassify

any

unissued

shares

into

other

classes

or

series

of

shares.

Each

share

of

the

Fund

has

equal

dividend,

distribution,

liquidation

and

voting

rights

(except

as

to

matters

relating

exclusively

to

one

class

of

shares),

and

fractional

shares

have

those

rights

proportionately.

2.

Significant

Accounting

Policies

This

schedule

of

investments

is

prepared

in

accordance

with

accounting

principles

generally

accepted

in

the

United

States

of

America

(“GAAP”),

which

require

management

to

make

estimates

and

assumptions

that

affect

the

reported

amounts

of

assets

and

liabilities.

Actual

results

could

differ

from

those

estimates.

The

following

represents

the

significant

accounting

policies

of

the

Fund:

a.

Security

Valuation

Exchange-traded

securities

including

those

traded

on

the

National

Association

of

Securities

Dealers’

Automated

Quotation

system

(“NASDAQ”),

are

valued

at

the

last

quoted

sale

price

or

official

closing

price

as

provided

by

independent

pricing

services

as

of

the

close

of

trading

on

the

system

or

exchange

on

which

they

are

primarily

traded,

on

each

Fund

business

day.

In

the

absence

of

a

sale,

such

securities

are

valued

at

the

mean

of

the

last

bid

and

asked

prices.

Non-exchange-traded

securities

for

which

over-the-counter

market

quotations

are

readily

available

are

generally

valued

at

the

mean

between

the

current

bid

and

asked

prices

provided

by

independent

pricing

services.

Investments

in

other

open-end

regulated

investment

companies

are

valued

at

their

publicly

traded

net

asset

value

(“NAV”).

Pursuant

to

Rule

2a-5

under

the

Investment

Company

Act,

the

Board

has

designated

Sound

Shore

Management,

Inc.

(the

"Adviser"),

as

the

Fund's

valuation

designee

to

perform

any

fair

value

determinations

for

securities

and

other

assets

held

by

the

Fund.

The

Adviser

is

subject

to

the

oversight

of

the

Board

and

certain

reporting

and

other

requirements

intended

to

provide

the

Board

the

information

needed

to

oversee

the

Adviser's

fair

value

determinations.

The

Adviser

is

responsible

for

determining

the

fair

value

of

investments

for

which

market

quotations

are

not

readily

available

in

accordance

with

policies

and

procedures

that

have

been

approved

by

the

Board.

Under

these

procedures,

the

Adviser

convenes

on

a

regular

and

ad

hoc

basis

to

review

such

investments

and

considers

a

number

of

factors,

including

5

Sound

Shore

Fund,

Inc.

NOTES

TO

SCHEDULE

OF

INVESTMENTS

(Unaudited)(Continued)

September

30,

2024

valuation

methodologies

and

significant

unobservable

inputs,

when

arriving

at

fair

value.

The

Board

has

approved

the

Adviser’s

fair

valuation

procedures

as

a

part

of

the

Fund’s

compliance

program

and

will

review

any

changes

made

to

the

procedures.

The

Adviser

provides

fair

valuation

inputs

pursuant

to

its

fair

valuation

procedures

if

market

quotations

are

not

readily

available

(including

a

short

and

temporary

lapse

in

the

provision

of

a

price

by

the

regular

pricing

source)

or,

if

in

the

judgment

of

the

Adviser

the

prices

or

values

available

do

not

represent

the

fair

value

of

the

instrument.

Factors

which

may

cause

the

Adviser

to

make

such

a

judgment

include,

but

are

not

limited

to,

the

following:

(i)

only

a

bid

price

or

an

asked

price

is

available,

(ii)

the

spread

between

the

bid

price

and

the

asked

price

is

substantial,

(iii)

the

frequency

of

sales,

(iv)

the

thinness

of

the

market,

(v)

the

size

of

reported

trades,

and

(vi)

actions

of

the

securities

markets,

such

as

the

suspension

or

limitation

of

trading.

Fair

valuation

is

based

on

subjective

factors

and,

as

a

result,

the

fair

value

price

of

a

security

may

differ

from

the

security’s

market

price

and

may

not

be

the

price

at

which

the

security

may

be

sold.

Fair

valuation

could

result

in

a

NAV

different

from

one

determined

by

using

market

quotations.

Valuation

inputs

used

to

determine

the

value

of

the

Fund’s

investments

are

summarized

in

the

three

broad

levels

listed

below:

Level

1

-

quoted

prices

in

active

markets

for

identical

assets

Level

2

-

other

significant

observable

inputs

(including

quoted

prices

of

similar

securities,

interest

rates,

prepayment

speeds,

credit

risk,

etc.)

Level

3

-

significant

unobservable

inputs

(including

the

Fund’s

own

assumptions

in

determining

the

fair

value

of

investments)

The

inputs

or

methodology

used

for

valuing

securities

are

not

necessarily

an

indication

of

the

risk

associated

with

investing

in

those

securities.

Pursuant

to

the

valuation

procedures

noted

previously,

equity

securities

(including

exchange-traded

securities

and

other

open-end

regulated

investment

companies)

are

generally

categorized

as

Level

1

securities

in

the

fair

value

hierarchy.

Investments

for

which

there

are

no

quotations,

or

for

which

quotations

do

not

appear

reliable,

are

valued

at

fair

value

as

determined

in

good

faith

by

the

Adviser

under

the

Adviser’s

fair

valuation

procedures.

These

valuations

are

typically

categorized

as

Level

2

or

Level

3

in

the

fair

value

hierarchy.

The

following

table

summarizes

the

Fund’s

investments

categorized

in

the

fair

value

hierarchy

as

of

September

30,

2024:

6

Sound

Shore

Fund,

Inc.

NOTES

TO

SCHEDULE

OF

INVESTMENTS

(Unaudited)(Concluded)

September

30,

2024

At

September

30,

2024,

all

equity

securities

and

open-end

regulated

investment

companies

were

included

in

Level

1

in

the

table

above.

Please

refer

to

the

Schedule

of

Investments

to

view

equity

securities

categorized

by

sector/industry

type.

b.

Security

Transactions

Security

transactions

are

recorded

on

a

trade

date

basis.

3.

Subsequent

Events

Subsequent

events

occurring

after

the

date

of

this

report

have

been

evaluated

for

potential

impact

to

this

report

through

the

date

the

report

was

issued.

Management

has

evaluated

the

need

for

additional

disclosures

and/or

adjustments

resulting

from

subsequent

events.

Based

on

this

evaluation,

no

additional

disclosures

or

adjustments

were

required

to

the

schedule

of

investments

as

of

the

date

the

schedule

of

investments

were

issued.

Security

Type

Level

1

Level

2

Level

3

Total

Inv

estments

in

Securities

Common

Stock

$

993,630,726

$

–

$

–

$

993,630,726

Short-Term

Investments

35,573,016

–

–

35,573,016

Total

Investments

$

1,029,203,742

$

–

$

–

$

1,029,203,742