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 |
Nice
NICE
|
+$147M |
| 2 |
Advance Auto Parts
AAP
|
+$140M |
| 3 |
DNB
Dun & Bradstreet
DNB
|
+$139M |
| 4 |
ETWO
E2open Parent Holdings
ETWO
|
+$115M |
| 5 |
Amazon
AMZN
|
+$108M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
RP
RealPage, Inc.
RP
|
+$248M |
| 2 |
DuPont de Nemours
DD
|
+$215M |
| 3 |
CHNG
Change Healthcare Inc. Common Stock
CHNG
|
+$156M |
| 4 |
US Foods
USFD
|
+$127M |
| 5 |
FISV
Fiserv Inc
FISV
|
+$113M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Consumer Discretionary | 24.41% |
| 2 | Technology | 21.69% |
| 3 | Materials | 12.68% |
| 4 | Healthcare | 12.46% |
| 5 | Communication Services | 10.39% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1
Ashland
ASH
$3.33B
| $358M | 4.43% |
4,035,178
| – | – |
|
2
Corteva
CTVA
$54.6B
| $349M | 4.32% |
7,487,573
-478,954
| -6% | -$21.2M |
|
|
NEWR
3
DELISTED
New Relic, Inc.
NEWR
| $319M | 3.95% |
5,185,202
-354,013
| -6% | -$23.5M |
|
|
BERY
4
DELISTED
Berry Global Group, Inc.
BERY
| $317M | 3.92% |
5,620,359
-1,501,421
| -21% | -$77.9M |
|
5
WillScot Mobile Mini Holdings
WSC
$4.01B
| $274M | 3.4% |
9,885,576
+2,075,840
| +27% | +$54.5M |
|
|
NUAN
6
DELISTED
Nuance Communications, Inc.
NUAN
| $264M | 3.27% |
6,055,193
-1,233,161
| -17% | -$56.7M |
|
7
Expedia Group
EXPE
$38.6B
| $243M | 3.01% |
1,413,961
+321,892
| +29% | +$49.5M |
|
|
MIC
8
DELISTED
Macquarie Infrastructure Holdings, LLC
MIC
| $224M | 2.78% |
7,051,585
-1,549,663
| -18% | -$48.6M |
|
9
Red Rock Resorts
RRR
$3.61B
| $209M | 2.59% |
6,423,759
+653,730
| +11% | +$18.9M |
|
|
DNB
10
DELISTED
Dun & Bradstreet
DNB
| $197M | 2.44% |
8,286,771
+5,798,662
| +233% | +$139M |
|
11
Alphabet (Google) Class C
GOOG
$4.18T
| $188M | 2.33% |
1,816,040
+400,340
| +28% | +$39.7M |
|
12
Liberty Media Series C
FWONK
$26.3B
| $184M | 2.27% |
4,388,906
+279,652
| +7% | +$11.8M |
|
|
SGI
13
Somnigroup International
SGI
$13.6B
| $182M | 2.25% |
4,967,418
-947,793
| -16% | -$30.7M |
|
14
Morgan Stanley
MS
$336B
| $173M | 2.15% |
2,233,104
-626,591
| -22% | -$48M |
|
15
Group 1 Automotive
GPI
$3.12B
| $170M | 2.1% |
1,075,934
+4,181
| +0.4% | +$638K |
|
|
16
Advance Auto Parts
AAP
$2.57B
| $153M | 1.89% |
+833,328
| New | +$140M |
|
17
Uber
UBER
$161B
| $148M | 1.84% |
2,721,125
+278,277
| +11% | +$15.5M |
|
18
Cigna
CI
$73.3B
| $146M | 1.81% |
603,700
-182,272
| -23% | -$40.6M |
|
19
LKQ Corp
LKQ
$6.52B
| $142M | 1.75% |
3,347,766
-1,067,808
| -24% | -$42M |
|
20
AutoNation
AN
$6.6B
| $140M | 1.73% |
1,499,015
-305,993
| -17% | -$24.5M |
|
21
Labcorp
LH
$27.3B
| $137M | 1.69% |
623,994
-91,207
| -13% | -$18.3M |
|
|
PS
22
DELISTED
Pluralsight, Inc. Class A Common Stock
PS
| $133M | 1.65% |
5,958,463
+954,150
| +19% | +$20.5M |
|
23
Aon
AON
$75.3B
| $131M | 1.62% |
568,111
+194,122
| +52% | +$42.7M |
|
|
P
24
Everpure Inc
P
$36.1B
| $131M | 1.62% |
6,067,207
+2,094,233
| +53% | +$49.8M |
|
|
25
Amazon
AMZN
$2.79T
| $131M | 1.62% |
843,980
+678,700
| +411% | +$108M |
|
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Ricky Sandler's Q1 2021 Portfolio in Review
As of Q1 2021, Ricky Sandler held 95 positions worth $8.08B, down 24% from $10.7B the previous quarter. Its ten largest holdings account for 34% of the portfolio.
Ricky Sandler withdrew a net $3.24B in Q1 2021, closing 27 positions and reducing 30 holdings. Its most notable exit was RealPage, Inc., an estimated $248M position sold in full.
By sector, the portfolio is most concentrated in Consumer Discretionary at 24% of assets, up from 17% a quarter earlier, followed by Technology and Materials.
Against the trend, Ricky Sandler opened a new position in Nice worth $128M.
- Ricky Sandler's largest Q1 2021 buy was Nice: 585,442 shares worth $128M.
- Ricky Sandler added most to Dun & Bradstreet in Q1 2021, an estimated $139M increase.
- Ricky Sandler's biggest Q1 2021 reduction was US Foods, cutting an estimated $127M.
- Ricky Sandler fully exited RealPage, Inc. in Q1 2021, selling an estimated $248M.
- Ricky Sandler's ten largest holdings make up 34% of its $8.08B portfolio in Q1 2021.
- Ricky Sandler opened 16 new positions and closed 27 in Q1 2021.
- Ricky Sandler's portfolio value fell 24% quarter-over-quarter to $8.08B.
Based on Eminence Capital's 13F filing for Q1 2021, filed 17 May 2021.