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 |
NUAN
Nuance Communications, Inc.
NUAN
|
+$158M |
| 2 |
DuPont de Nemours
DD
|
+$155M |
| 3 |
MIC
Macquarie Infrastructure Holdings, LLC
MIC
|
+$142M |
| 4 |
JPMorgan Chase
JPM
|
+$86.3M |
| 5 |
LKQ Corp
LKQ
|
+$74.6M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Royal Caribbean
RCL
|
+$233M |
| 2 |
SPDR Gold Trust
GLD
|
+$175M |
| 3 |
Vulcan Materials
VMC
|
+$148M |
| 4 |
BERY
Berry Global Group, Inc.
BERY
|
+$128M |
| 5 |
VER
VEREIT, Inc.
VER
|
+$127M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Consumer Discretionary | 16.88% |
| 2 | Technology | 15.47% |
| 3 | Materials | 13.18% |
| 4 | Healthcare | 6.65% |
| 5 | Communication Services | 6.52% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
101
Melco Resorts & Entertainment
MLCO
$2.09B
| – | – |
-507,515
| Closed | -$6.29M |
|
102
Marathon Petroleum
MPC
$101B
| – | – |
-2,108,450
| Closed | -$49.8M |
|
103
Vail Resorts
MTN
$5.45B
| – | – |
-167,000
| Closed | -$24.7M |
|
104
Nutanix
NTNX
$18.3B
| – | – |
-3,690,511
| Closed | -$58.3M |
|
105
PENN Entertainment
PENN
$2.5B
| – | – |
-2,176,687
| Closed | -$27.5M |
|
106
Performance Food Group
PFGC
$16.5B
| – | – |
-1,466,806
| Closed | -$36.3M |
|
107
Peloton Interactive
PTON
$2.37B
| – | – |
-2,612,968
| Closed | -$69.4M |
|
108
Sabre
SABR
$848M
| – | – |
-3,983,500
| Closed | -$23.6M |
|
109
CALL
State Street SPDR S&P 500 ETF Trust
SPY
$809B
| – | – |
-2,535,000
| Closed | -$653M |
|
|
110
State Street SPDR S&P 500 ETF Trust
SPY
$809B
| – | – |
-66,956
| Closed | -$19.6M |
|
111
Synchrony
SYF
$25.9B
| – | – |
-1,502,343
| Closed | -$24.2M |
|
|
112
Vulcan Materials
VMC
$35.8B
| – | – |
-1,369,732
| Closed | -$148M |
|
113
NCR Voyix
VYX
$1.09B
| – | – |
-1,501,626
| Closed | -$16.3M |
|
114
Wynn Resorts
WYNN
$10.3B
| – | – |
-1,181,496
| Closed | -$71.1M |
|
|
BECN
115
DELISTED
Beacon Roofing Supply, Inc.
BECN
| – | – |
-202,522
| Closed | -$3.35M |
|
|
CSOD
116
DELISTED
Cornerstone OnDemand, Inc.
CSOD
| – | – |
-2,514,554
| Closed | -$79.8M |
|
|
VER
117
DELISTED
VEREIT, Inc.
VER
| – | – |
-5,182,713
| Closed | -$127M |
|
Similar funds
Ricky Sandler's Q2 2020 Portfolio in Review
As of Q2 2020, Ricky Sandler held 117 positions worth $10.1B, up 10% from $9.14B the previous quarter. Its ten largest holdings account for 47% of the portfolio.
Ricky Sandler withdrew a net $1.09B in Q2 2020, closing 44 positions and reducing 32 holdings. Its most notable exit was SPDR Gold Trust, an estimated $175M position sold in full.
By sector, the portfolio is most concentrated in Consumer Discretionary at 17% of assets, down from 20% a quarter earlier, followed by Technology and Materials.
Against the trend, Ricky Sandler opened a new position in Valvoline worth $68.5M.
- Ricky Sandler's largest Q2 2020 buy was Valvoline: 3,544,790 shares worth $68.5M.
- Ricky Sandler added most to Nuance Communications, Inc. in Q2 2020, an estimated $158M increase.
- Ricky Sandler's biggest Q2 2020 reduction was Royal Caribbean, cutting an estimated $233M.
- Ricky Sandler fully exited SPDR Gold Trust in Q2 2020, selling an estimated $175M.
- Ricky Sandler's ten largest holdings make up 47% of its $10.1B portfolio in Q2 2020.
- Ricky Sandler opened 16 new positions and closed 44 in Q2 2020.
- Ricky Sandler's portfolio value rose 10% quarter-over-quarter to $10.1B.
Based on Eminence Capital's 13F filing for Q2 2020, filed 17 Aug 2020.