Ricky Sandler Eminence Capital
Ricky Sandler is the founder of Eminence Capital, a fundamental long/short equity firm. Eminence is known for research-driven positions across sectors and for an active approach to portfolio construction rather than passive cloning of indexes. Sandler’s firm is frequently listed among notable fundamental hedge funds followed through 13F disclosures.
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Cigna
CI
|
+$173M |
| 2 |
Raymond James Financial
RJF
|
+$163M |
| 3 |
Capri Holdings
CPRI
|
+$146M |
| 4 |
Domino's
DPZ
|
+$143M |
| 5 |
GoDaddy
GDDY
|
+$106M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Tyson Foods
TSN
|
+$269M |
| 2 |
Middleby
MIDD
|
+$173M |
| 3 |
US Foods
USFD
|
+$134M |
| 4 |
Graphic Packaging
GPK
|
+$119M |
| 5 |
Equinix
EQIX
|
+$79.9M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Consumer Discretionary | 21.62% |
| 2 | Materials | 16.07% |
| 3 | Communication Services | 14.59% |
| 4 | Financials | 13.97% |
| 5 | Healthcare | 9.99% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
51
Philip Morris
PM
$293B
| $53.3M | 0.64% |
+701,692
| New | +$55.6M |
|
52
Haemonetics
HAE
$4.95B
| $37.7M | 0.45% |
298,706
-581,513
| -66% | -$73.8M |
|
53
Asbury Automotive
ABG
$3.86B
| $29.4M | 0.35% |
287,336
-27,201
| -9% | -$2.51M |
|
54
Fidelity National Information Services
FIS
$21.3B
| $26M | 0.31% |
195,529
-190,674
| -49% | -$25.3M |
|
|
55
CALL
Capri Holdings
CPRI
$1.55B
| $19.1M | 0.23% |
575,500
-808,900
| -58% | -$25.9M |
|
56
Lennar Class B
LEN.B
$20.6B
| $7.01M | 0.08% |
166,279
-5,948
| -3% | -$226K |
|
57
Beyond Meat
BYND
$254M
| $2.07M | 0.02% |
+464
| New | +$2.29M |
|
|
58
Graphic Packaging
GPK
$3.54B
| – | – |
-8,512,545
| Closed | -$119M |
|
59
Liberty Global Class A
LBTYA
$3.63B
| – | – |
-521,455
| Closed | -$14.1M |
|
|
60
Middleby
MIDD
$5.22B
| – | – |
-1,274,325
| Closed | -$173M |
|
|
61
Tyson Foods
TSN
$20.6B
| – | – |
-3,337,181
| Closed | -$269M |
|
|
BID
62
DELISTED
Sotheby's
BID
| – | – |
-221,938
| Closed | -$12.9M |
|
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Ricky Sandler's Q3 2019 Portfolio in Review
As of Q3 2019, Ricky Sandler held 62 positions worth $8.31B, up 9.6% from $7.58B the previous quarter. Its ten largest holdings account for 37% of the portfolio.
Ricky Sandler deployed $837M of net new capital in Q3 2019, opening 14 new positions and adding to 14 existing holdings. Its largest new stake was Cigna: 1,061,705 shares worth $161M.
By sector, the portfolio is most concentrated in Consumer Discretionary at 22% of assets, up from 19% a quarter earlier, followed by Materials and Communication Services.
On the sell side, the largest reduction was US Foods, an estimated $134M trimmed.
- Ricky Sandler's largest Q3 2019 buy was Cigna: 1,061,705 shares worth $161M.
- Ricky Sandler added most to Capri Holdings in Q3 2019, an estimated $146M increase.
- Ricky Sandler's biggest Q3 2019 reduction was US Foods, cutting an estimated $134M.
- Ricky Sandler fully exited Tyson Foods in Q3 2019, selling an estimated $269M.
- Ricky Sandler's ten largest holdings make up 37% of its $8.31B portfolio in Q3 2019.
- Ricky Sandler opened 14 new positions and closed 5 in Q3 2019.
- Ricky Sandler's portfolio value rose 9.6% quarter-over-quarter to $8.31B.
Based on Eminence Capital's 13F filing for Q3 2019, filed 14 Nov 2019.