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 |
Salesforce
CRM
|
+$233M |
| 2 |
Enovis
ENOV
|
+$182M |
| 3 |
Builders FirstSource
BLDR
|
+$144M |
| 4 |
Intuit
INTU
|
+$138M |
| 5 |
Melco Resorts & Entertainment
MLCO
|
+$136M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
NUAN
Nuance Communications, Inc.
NUAN
|
+$305M |
| 2 |
MIC
Macquarie Infrastructure Holdings, LLC
MIC
|
+$239M |
| 3 |
Labcorp
LH
|
+$137M |
| 4 |
PS
Pluralsight, Inc. Class A Common Stock
PS
|
+$133M |
| 5 |
Aon
AON
|
+$131M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Consumer Discretionary | 25.9% |
| 2 | Technology | 25.49% |
| 3 | Healthcare | 13.35% |
| 4 | Materials | 11.81% |
| 5 | Communication Services | 7.87% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
DFS
76
DELISTED
Discover Financial Services
DFS
| – | – |
-960,812
| Closed | -$91.3M |
|
77
HCA Healthcare
HCA
$92.9B
| – | – |
-99,916
| Closed | -$18.8M |
|
|
78
Labcorp
LH
$27.3B
| – | – |
-623,994
| Closed | -$137M |
|
79
Pinterest
PINS
$13.3B
| – | – |
-1,208,604
| Closed | -$89.5M |
|
80
Dave & Buster's
PLAY
$357M
| – | – |
-711,795
| Closed | -$34.1M |
|
81
Ryman Hospitality Properties
RHP
$8.86B
| – | – |
-647,183
| Closed | -$50.2M |
|
|
AUS.U
82
DELISTED
Austerlitz Acquisition Corporation I Units, each consisting of one Class A ordinary share and one-fourth of one redeemable warrant
AUS.U
| – | – |
-648,549
| Closed | -$6.51M |
|
|
ASZ.U
83
DELISTED
Austerlitz Acquisition Corporation II Units, each consisting of one Class A ordinary share and one-fourth of one redeemable warrant
ASZ.U
| – | – |
-7,975,700
| Closed | -$80M |
|
|
PS
84
DELISTED
Pluralsight, Inc. Class A Common Stock
PS
| – | – |
-5,958,463
| Closed | -$133M |
|
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Ricky Sandler's Q2 2021 Portfolio in Review
As of Q2 2021, Ricky Sandler held 84 positions worth $8.13B, up 0.62% from $8.08B the previous quarter. Its ten largest holdings account for 33% of the portfolio.
Ricky Sandler withdrew a net $370M in Q2 2021, closing 13 positions and reducing 32 holdings. Its most notable exit was Labcorp, an estimated $137M position sold in full.
By sector, the portfolio is most concentrated in Consumer Discretionary at 26% of assets, up from 24% a quarter earlier, followed by Technology and Healthcare.
Against the trend, Ricky Sandler opened a new position in Salesforce worth $247M.
- Ricky Sandler's largest Q2 2021 buy was Salesforce: 1,010,699 shares worth $247M.
- Ricky Sandler added most to Melco Resorts & Entertainment in Q2 2021, an estimated $136M increase.
- Ricky Sandler's biggest Q2 2021 reduction was Nuance Communications, Inc., cutting an estimated $305M.
- Ricky Sandler fully exited Labcorp in Q2 2021, selling an estimated $137M.
- Ricky Sandler's ten largest holdings make up 33% of its $8.13B portfolio in Q2 2021.
- Ricky Sandler opened 16 new positions and closed 13 in Q2 2021.
- Ricky Sandler's portfolio value rose 0.62% quarter-over-quarter to $8.13B.
Based on Eminence Capital's 13F filing for Q2 2021, filed 16 Aug 2021.