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Ricky Sandler Eminence Capital

AUM $4.36B
1-Year Est. Return 3.1%
 

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.

This Fund
S&P 500
This Quarter Est. Return
-3.28%
1 Year Est. Return
-3.1%
3 Year Est. Return
+37.18%
5 Year Est. Return
+35.48%
10 Year Est. Return
+262.43%
AUM
$5.06B
AUM Growth
-$2.56B
Cap. Flow
-$2.32B
Cap. Flow %
-45.87%
Top 10 Hldgs %
32.91%
Holding
70
New
7
Increased
24
Reduced
30
Closed
8

Top Buys

Rank Stock Value
1
MASI
Masimo
MASI
+$121M
2
PLAY icon
Dave & Buster's
PLAY
+$114M
3
TNDM icon
Tandem Diabetes Care
TNDM
+$65.2M
4
CBRE icon
CBRE Group
CBRE
+$51.1M
5
SMAR
Smartsheet Inc.
SMAR
+$50.3M

Top Sells

Rank Stock Value
1
NEWR
New Relic, Inc.
NEWR
+$249M
2
NVST icon
Envista
NVST
+$118M
3
BIO icon
Bio-Rad Laboratories Class A
BIO
+$85.6M
4
SPB icon
Spectrum Brands
SPB
+$74.8M
5
FROG icon
JFrog
FROG
+$62.2M

Sector Composition

Rank Sector Weight
1 Consumer Discretionary 21.64%
2 Technology 16.49%
3 Financials 15.56%
4 Communication Services 12.51%
5 Materials 12.28%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
ASH icon
1
Ashland
ASH
$3.33B
$287M 5.67%
3,514,031
-101,443
-3% -$8.79M
UBER icon
2
Uber
UBER
$161B
$187M 3.7%
4,070,403
-594,763
-13% -$27.2M
GPK icon
3
Graphic Packaging
GPK
$3.54B
$168M 3.32%
7,530,507
+1,614,914
+27% +$37.1M
LPLA icon
4
LPL Financial
LPLA
$28.5B
$166M 3.28%
698,598
-85,627
-11% -$19.9M
SCHW
5
Charles Schwab
SCHW
$194B
$159M 3.13%
2,887,138
+426,876
+17% +$25.8M
AMZN icon
6
Amazon
AMZN
$2.79T
$153M 3.02%
1,203,888
-171,642
-12% -$23M
Z icon
7
Zillow
Z
$8.07B
$142M 2.81%
3,085,268
+329,191
+12% +$16.9M
PLAY icon
8
Dave & Buster's
PLAY
$357M
$135M 2.66%
3,635,435
+2,792,780
+331% +$114M
SMAR
9
DELISTED
Smartsheet Inc.
SMAR
$135M 2.66%
3,329,155
+1,226,189
+58% +$50.3M
KKR icon
10
KKR & Co
KKR
$97.4B
$134M 2.64%
2,170,674
-62,663
-3% -$3.81M
PINS icon
11
Pinterest
PINS
$13.3B
$132M 2.61%
4,877,197
-873,107
-15% -$23.8M
CF icon
12
CF Industries
CF
$19.6B
$132M 2.6%
1,537,159
-44,376
-3% -$3.51M
OKTA icon
13
Okta
OKTA
$23.5B
$130M 2.58%
1,599,703
+113,994
+8% +$8.64M
FWONK icon
14
Liberty Media Series C
FWONK
$26.3B
$130M 2.58%
2,091,824
+226,232
+12% +$15.5M
PFGC icon
15
Performance Food Group
PFGC
$16.5B
$118M 2.33%
2,002,239
-57,799
-3% -$3.5M
DFS
16
DELISTED
Discover Financial Services
DFS
$116M 2.3%
1,343,975
+399,209
+42% +$39.6M
TNDM icon
17
Tandem Diabetes Care
TNDM
$1.55B
$114M 2.25%
5,490,017
+2,372,458
+76% +$65.2M
CTVA icon
18
Corteva
CTVA
$54.6B
$112M 2.22%
2,193,345
+717,749
+49% +$38M
SGI
19
Somnigroup International
SGI
$13.6B
$110M 2.17%
2,533,985
-542,911
-18% -$24.1M
CRM icon
20
Salesforce
CRM
$171B
$109M 2.15%
537,312
-36,340
-6% -$7.85M
BLCO icon
21
Bausch + Lomb
BLCO
$6.16B
$102M 2.01%
5,994,806
+626,431
+12% +$11.7M
BABA icon
22
Alibaba
BABA
$286B
$101M 2%
1,167,317
+33,661
+3% +$3.08M
PGR icon
23
Progressive
PGR
$127B
$91.7M 1.81%
658,127
+118,383
+22% +$15.6M
MASI
24
DELISTED
Masimo
MASI
$90.9M 1.8%
+1,036,253
New +$121M
LEN icon
25
Lennar Class A
LEN
$21B
$90.1M 1.78%
829,725
+230,053
+38% +$27M
1
2 3

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Ricky Sandler's Q3 2023 Portfolio in Review

As of Q3 2023, Ricky Sandler held 70 positions worth $5.06B, down 34% from $7.62B the previous quarter. Its ten largest holdings account for 33% of the portfolio.

Ricky Sandler withdrew a net $2.32B in Q3 2023, closing 8 positions and reducing 30 holdings. Its most notable exit was New Relic, Inc., an estimated $249M position sold in full.

By sector, the portfolio is most concentrated in Consumer Discretionary at 22% of assets, up from 15% a quarter earlier, followed by Technology and Financials.

Against the trend, Ricky Sandler opened a new position in Masimo worth $90.9M.

  • Ricky Sandler's largest Q3 2023 buy was Masimo: 1,036,253 shares worth $90.9M.
  • Ricky Sandler added most to Dave & Buster's in Q3 2023, an estimated $114M increase.
  • Ricky Sandler's biggest Q3 2023 reduction was Spectrum Brands, cutting an estimated $74.8M.
  • Ricky Sandler fully exited New Relic, Inc. in Q3 2023, selling an estimated $249M.
  • Ricky Sandler's ten largest holdings make up 33% of its $5.06B portfolio in Q3 2023.
  • Ricky Sandler opened 7 new positions and closed 8 in Q3 2023.
  • Ricky Sandler's portfolio value fell 34% quarter-over-quarter to $5.06B.

Based on Eminence Capital's 13F filing for Q3 2023, filed 14 Nov 2023.