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 |
Louisiana-Pacific
LPX
|
+$118M |
| 2 |
Progressive
PGR
|
+$72.4M |
| 3 |
Spectrum Brands
SPB
|
+$59.5M |
| 4 |
Alibaba
BABA
|
+$46.2M |
| 5 |
Envista
NVST
|
+$40M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Vertiv
VRT
|
+$113M |
| 2 |
Avantor
AVTR
|
+$113M |
| 3 |
BERY
Berry Global Group, Inc.
BERY
|
+$72.5M |
| 4 |
Uber
UBER
|
+$68.5M |
| 5 |
Salesforce
CRM
|
+$63.2M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Consumer Discretionary | 15.35% |
| 2 | Technology | 14.43% |
| 3 | Financials | 9.81% |
| 4 | Materials | 8.87% |
| 5 | Healthcare | 7.57% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1
PUT
Invesco QQQ Trust
QQQ
$486B
| $2.05B | 26.96% |
+5,560,000
| New | +$1.87B |
|
2
Ashland
ASH
$3.33B
| $314M | 4.12% |
3,615,474
-312,047
| -8% | -$28.8M |
|
|
NEWR
3
DELISTED
New Relic, Inc.
NEWR
| $249M | 3.27% |
3,807,116
+289,709
| +8% | +$20.9M |
|
|
4
Uber
UBER
$161B
| $201M | 2.64% |
4,665,166
-1,844,040
| -28% | -$68.5M |
|
5
Amazon
AMZN
$2.79T
| $179M | 2.35% |
1,375,530
-252,852
| -16% | -$28.9M |
|
6
LPL Financial
LPLA
$28.5B
| $171M | 2.24% |
784,225
+66,106
| +9% | +$13.2M |
|
7
Pinterest
PINS
$13.3B
| $157M | 2.06% |
5,750,304
+158,038
| +3% | +$3.94M |
|
|
8
Louisiana-Pacific
LPX
$5.12B
| $143M | 1.88% |
+1,907,427
| New | +$118M |
|
9
Graphic Packaging
GPK
$3.54B
| $142M | 1.87% |
5,915,593
+627,554
| +12% | +$15.8M |
|
|
SCHW
10
Charles Schwab
SCHW
$194B
| $139M | 1.83% |
2,460,262
+441,813
| +22% | +$23.1M |
|
11
Zillow
Z
$8.07B
| $139M | 1.82% |
2,756,077
-413,528
| -13% | -$19M |
|
12
Liberty Media Series C
FWONK
$26.3B
| $136M | 1.78% |
1,865,592
-376,238
| -17% | -$26.8M |
|
13
Crown Holdings
CCK
$13B
| $130M | 1.71% |
1,500,319
-112,141
| -7% | -$9.23M |
|
14
KKR & Co
KKR
$97.4B
| $125M | 1.64% |
2,233,337
-385,926
| -15% | -$20.2M |
|
15
Performance Food Group
PFGC
$16.5B
| $124M | 1.63% |
2,060,038
+88,543
| +4% | +$5.21M |
|
|
SGI
16
Somnigroup International
SGI
$13.6B
| $123M | 1.62% |
3,076,896
-140,255
| -4% | -$5.28M |
|
|
17
Salesforce
CRM
$171B
| $121M | 1.59% |
573,652
-309,503
| -35% | -$63.2M |
|
|
18
Envista
NVST
$4.37B
| $118M | 1.55% |
3,494,982
+1,132,533
| +48% | +$40M |
|
|
DFS
19
DELISTED
Discover Financial Services
DFS
| $110M | 1.45% |
944,766
-406,341
| -30% | -$42.6M |
|
20
CF Industries
CF
$19.6B
| $110M | 1.44% |
1,581,535
+33,440
| +2% | +$2.33M |
|
21
Bausch + Lomb
BLCO
$6.16B
| $108M | 1.41% |
5,368,375
-211,134
| -4% | -$3.83M |
|
22
Melco Resorts & Entertainment
MLCO
$2.09B
| $106M | 1.4% |
8,717,240
+790,382
| +10% | +$9.78M |
|
23
Okta
OKTA
$23.5B
| $103M | 1.35% |
1,485,709
-9,144
| -0.6% | -$694K |
|
24
Ferguson
FERG
$46.9B
| $103M | 1.35% |
652,865
-188,434
| -22% | -$26.8M |
|
25
Manchester United
MANU
$4.1B
| $96.6M | 1.27% |
3,964,174
+1,228,249
| +45% | +$25.4M |
|
Similar funds
Ricky Sandler's Q2 2023 Portfolio in Review
As of Q2 2023, Ricky Sandler held 74 positions worth $7.62B, up 8.2% from $7.04B the previous quarter. Its ten largest holdings account for 49% of the portfolio.
Ricky Sandler deployed $318M of net new capital in Q2 2023, opening 8 new positions and adding to 18 existing holdings. Its largest new stake was Louisiana-Pacific: 1,907,427 shares worth $143M.
By sector, the portfolio is most concentrated in Consumer Discretionary at 15% of assets, down from 16% a quarter earlier, followed by Technology and Financials.
On the sell side, the largest reduction was Berry Global Group, Inc., an estimated $72.5M trimmed.
- Ricky Sandler's largest Q2 2023 buy was Louisiana-Pacific: 1,907,427 shares worth $143M.
- Ricky Sandler added most to Spectrum Brands in Q2 2023, an estimated $59.5M increase.
- Ricky Sandler's biggest Q2 2023 reduction was Berry Global Group, Inc., cutting an estimated $72.5M.
- Ricky Sandler fully exited Vertiv in Q2 2023, selling an estimated $113M.
- Ricky Sandler's ten largest holdings make up 49% of its $7.62B portfolio in Q2 2023.
- Ricky Sandler opened 8 new positions and closed 11 in Q2 2023.
- Ricky Sandler's portfolio value rose 8.2% quarter-over-quarter to $7.62B.
Based on Eminence Capital's 13F filing for Q2 2023, filed 14 Aug 2023.