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 |
WillScot Mobile Mini Holdings
WSC
|
+$158M |
| 2 |
Expedia Group
EXPE
|
+$123M |
| 3 |
Alphabet (Google) Class C
GOOG
|
+$119M |
| 4 |
AutoNation
AN
|
+$113M |
| 5 |
Labcorp
LH
|
+$93.6M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Capri Holdings
CPRI
|
+$181M |
| 2 |
JPMorgan Chase
JPM
|
+$144M |
| 3 |
HDS
HD Supply Holdings, Inc.
HDS
|
+$135M |
| 4 |
Ashland
ASH
|
+$121M |
| 5 |
DuPont de Nemours
DD
|
+$104M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 19.35% |
| 2 | Consumer Discretionary | 16.92% |
| 3 | Materials | 11.35% |
| 4 | Healthcare | 9.33% |
| 5 | Communication Services | 7.66% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1
PUT
State Street SPDR S&P 500 ETF Trust
SPY
$809B
| $1.05B | 9.81% |
2,800,000
-4,487,500
| -62% | -$1.59B |
|
2
PUT
Invesco QQQ Trust
QQQ
$486B
| $584M | 5.47% |
+1,860,000
| New | +$546M |
|
|
BERY
3
DELISTED
Berry Global Group, Inc.
BERY
| $367M | 3.44% |
7,121,780
-269,190
| -4% | -$12.8M |
|
|
NEWR
4
DELISTED
New Relic, Inc.
NEWR
| $362M | 3.4% |
5,539,215
+153,062
| +3% | +$9.43M |
|
|
MIC
5
DELISTED
Macquarie Infrastructure Holdings, LLC
MIC
| $323M | 3.03% |
8,601,248
+111,442
| +1% | +$3.42M |
|
|
NUAN
6
DELISTED
Nuance Communications, Inc.
NUAN
| $321M | 3.01% |
7,288,354
-1,656,751
| -19% | -$62.8M |
|
|
7
Ashland
ASH
$3.33B
| $320M | 3% |
4,035,178
-1,600,000
| -28% | -$121M |
|
8
Corteva
CTVA
$54.6B
| $308M | 2.89% |
7,966,527
+879,704
| +12% | +$31.4M |
|
9
CALL
SPDR Gold Trust
GLD
$152B
| $268M | 2.51% |
+1,500,000
| New | +$264M |
|
|
RP
10
DELISTED
RealPage, Inc.
RP
| $248M | 2.33% |
2,844,002
+273,014
| +11% | +$17.9M |
|
|
11
DuPont de Nemours
DD
$18.7B
| $215M | 2.02% |
2,411,130
-1,327,527
| -36% | -$104M |
|
12
Morgan Stanley
MS
$336B
| $196M | 1.84% |
2,859,695
-85,161
| -3% | -$4.89M |
|
|
13
WillScot Mobile Mini Holdings
WSC
$4.01B
| $181M | 1.7% |
+7,809,736
| New | +$158M |
|
14
Liberty Media Series C
FWONK
$26.3B
| $169M | 1.59% |
4,109,254
-43,888
| -1% | -$1.7M |
|
|
DFS
15
DELISTED
Discover Financial Services
DFS
| $169M | 1.58% |
1,862,749
+70,435
| +4% | +$5.25M |
|
16
Palo Alto Networks
PANW
$292B
| $166M | 1.55% |
2,800,866
+221,988
| +9% | +$10.4M |
|
17
Cigna
CI
$73.3B
| $164M | 1.53% |
785,972
-142,321
| -15% | -$27.9M |
|
|
SGI
18
Somnigroup International
SGI
$13.6B
| $160M | 1.5% |
5,915,211
+1,269,811
| +27% | +$31M |
|
19
US Foods
USFD
$23.7B
| $158M | 1.48% |
4,736,375
-1,162,285
| -20% | -$33.2M |
|
|
CHNG
20
DELISTED
Change Healthcare Inc. Common Stock
CHNG
| $156M | 1.47% |
8,387,990
-6,116,290
| -42% | -$101M |
|
21
LKQ Corp
LKQ
$6.52B
| $156M | 1.46% |
4,415,574
+53,965
| +1% | +$1.85M |
|
22
Lennar Class A
LEN
$21B
| $156M | 1.46% |
2,107,600
+509,636
| +32% | +$38.2M |
|
23
Alibaba
BABA
$286B
| $152M | 1.42% |
652,148
-1,460
| -0.2% | -$405K |
|
|
24
Expedia Group
EXPE
$38.6B
| $145M | 1.36% |
+1,092,069
| New | +$123M |
|
25
Red Rock Resorts
RRR
$3.61B
| $144M | 1.35% |
5,770,029
+604,520
| +12% | +$12.9M |
|
Similar funds
Ricky Sandler's Q4 2020 Portfolio in Review
As of Q4 2020, Ricky Sandler held 95 positions worth $10.7B, up 4.6% from $10.2B the previous quarter. Its ten largest holdings account for 39% of the portfolio.
Ricky Sandler withdrew a net $1.66B in Q4 2020, closing 16 positions and reducing 34 holdings. Its most notable exit was JPMorgan Chase, an estimated $144M position sold in full.
By sector, the portfolio is most concentrated in Technology at 19% of assets, up from 17% a quarter earlier, followed by Consumer Discretionary and Materials.
Against the trend, Ricky Sandler opened a new position in WillScot Mobile Mini Holdings worth $181M.
- Ricky Sandler's largest Q4 2020 buy was WillScot Mobile Mini Holdings: 7,809,736 shares worth $181M.
- Ricky Sandler added most to Labcorp in Q4 2020, an estimated $93.6M increase.
- Ricky Sandler's biggest Q4 2020 reduction was Capri Holdings, cutting an estimated $181M.
- Ricky Sandler fully exited JPMorgan Chase in Q4 2020, selling an estimated $144M.
- Ricky Sandler's ten largest holdings make up 39% of its $10.7B portfolio in Q4 2020.
- Ricky Sandler opened 18 new positions and closed 16 in Q4 2020.
- Ricky Sandler's portfolio value rose 4.6% quarter-over-quarter to $10.7B.
Based on Eminence Capital's 13F filing for Q4 2020, filed 16 Feb 2021.