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 |
Progressive
PGR
|
+$175M |
| 2 |
NEWR
New Relic, Inc.
NEWR
|
+$164M |
| 3 |
Uber
UBER
|
+$133M |
| 4 |
US Foods
USFD
|
+$108M |
| 5 |
Corteva
CTVA
|
+$104M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Thermo Fisher Scientific
TMO
|
+$138M |
| 2 |
American Express
AXP
|
+$125M |
| 3 |
Sysco
SYY
|
+$103M |
| 4 |
Royal Caribbean
RCL
|
+$85.5M |
| 5 |
PG&E
PCG
|
+$74.8M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Consumer Discretionary | 19.82% |
| 2 | Materials | 17.16% |
| 3 | Communication Services | 15.21% |
| 4 | Technology | 15.17% |
| 5 | Financials | 13.25% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
51
BJs Wholesale Club
BJ
$12.3B
| $45.8M | 0.52% |
+2,014,433
| New | +$49.8M |
|
|
52
PG&E
PCG
$38.8B
| $45.4M | 0.51% |
4,180,000
-8,735,361
| -68% | -$74.8M |
|
53
Haemonetics
HAE
$4.95B
| $33.3M | 0.37% |
290,140
-8,566
| -3% | -$1.04M |
|
54
Asbury Automotive
ABG
$3.86B
| $23.1M | 0.26% |
207,068
-80,268
| -28% | -$8.64M |
|
55
Netflix
NFLX
$331B
| $21.9M | 0.25% |
+678,310
| New | +$20.1M |
|
56
CALL
Capri Holdings
CPRI
$1.55B
| $20.9M | 0.24% |
548,200
-27,300
| -5% | -$942K |
|
57
Avantor
AVTR
$9.78B
| $16.8M | 0.19% |
+926,519
| New | +$14.7M |
|
58
Lennar Class B
LEN.B
$20.6B
| $6.72M | 0.08% |
158,179
-8,100
| -5% | -$360K |
|
|
59
American Express
AXP
$227B
| – | – |
-1,060,939
| Closed | -$125M |
|
60
CALL
Alibaba
BABA
$286B
| – | – |
-737,200
| Closed | -$123M |
|
61
Beyond Meat
BYND
$254M
| – | – |
-464
| Closed | -$2.07M |
|
62
Fidelity National Information Services
FIS
$21.3B
| – | – |
-195,529
| Closed | -$26M |
|
63
Mondelez International
MDLZ
$82.3B
| – | – |
-992,515
| Closed | -$54.9M |
|
64
Philip Morris
PM
$293B
| – | – |
-701,692
| Closed | -$53.3M |
|
|
SCHW
65
CALL
Charles Schwab
SCHW
$194B
| – | – |
-3,477,700
| Closed | -$145M |
|
|
66
Sysco
SYY
$40.2B
| – | – |
-1,301,243
| Closed | -$103M |
|
|
67
Thermo Fisher Scientific
TMO
$233B
| – | – |
-475,338
| Closed | -$138M |
|
68
Ulta Beauty
ULTA
$22.4B
| – | – |
-267,504
| Closed | -$67M |
|
|
NUVA
69
DELISTED
NuVasive, Inc.
NUVA
| – | – |
-1,142,979
| Closed | -$72.4M |
|
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Ricky Sandler's Q4 2019 Portfolio in Review
As of Q4 2019, Ricky Sandler held 69 positions worth $8.89B, up 7% from $8.31B the previous quarter. Its ten largest holdings account for 38% of the portfolio.
Ricky Sandler's Q4 2019 filing shows 12 new, 12 increased, 34 reduced and 11 closed positions. Its largest new stake was Progressive: 2,420,808 shares worth $175M. The largest sale was Thermo Fisher Scientific, an estimated $138M.
By sector, the portfolio is most concentrated in Consumer Discretionary at 20% of assets, down from 22% a quarter earlier, followed by Materials and Communication Services.
- Ricky Sandler's largest Q4 2019 buy was Progressive: 2,420,808 shares worth $175M.
- Ricky Sandler added most to US Foods in Q4 2019, an estimated $108M increase.
- Ricky Sandler's biggest Q4 2019 reduction was Royal Caribbean, cutting an estimated $85.5M.
- Ricky Sandler fully exited Thermo Fisher Scientific in Q4 2019, selling an estimated $138M.
- Ricky Sandler's ten largest holdings make up 38% of its $8.89B portfolio in Q4 2019.
- Ricky Sandler opened 12 new positions and closed 11 in Q4 2019.
- Ricky Sandler's portfolio value rose 7% quarter-over-quarter to $8.89B.
Based on Eminence Capital's 13F filing for Q4 2019, filed 14 Feb 2020.