OGN - The Sound Shore Fund Q4 2023 Letter To Shareholders

2024-01-27 21:25:00 ET

Summary

• Sound Shore Fund, Inc. is registered as a diversified, open-end management investment company. The investment objective of the Fund is growth of capital.
• The Sound Shore Fund Investor Class and Institutional Class advanced 12.43% and 12.50%, respectively, in the fourth quarter of 2023, ahead of the Russell 1000 Value Index (Russell Value) which advanced 9.50%.
• Detractors for the year included some of our healthcare holdings, which underperformed along with the sector as the excitement for weight loss drugs seemed to siphon a lot of capital away from other parts of the healthcare industry.
• Meanwhile, we are continuously researching stocks that are cheap versus their historic norms and the market, where value is building ahead of expectations.

The Sound Shore Fund Investor Class (SSHFX) and Institutional Class (SSHVX) advanced 12.43% and 12.50%, respectively, in the fourth quarter of 2023, ahead of the Russell 1000 Value Index (Russell Value) which advanced 9.50%. As of December 31, 2023, the three year annualized advances for SSHFX of 9.12% and for SSHVX of 9.34% were also ahead of the Russell Value’s 8.86%. As long-term investors, we highlight that Sound Shore’s 35 year annualized returns of 10.14% and 10.43%, for SSHFX and SSHVX, respectively, as of December 31, 2023, were ahead of the Russell Value at 9.94%. For the Fund's most recent standardized performance information, click here ....

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