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Sandler Capital Management Portfolio holdings

AUM $193M
1-Year Est. Return 77.14%
This Fund
S&P 500
This Quarter Est. Return
+7.12%
1 Year Est. Return
+77.14%
3 Year Est. Return
+287.77%
5 Year Est. Return
+477.32%
10 Year Est. Return
+5,217.56%
AUM
$2.39B
AUM Growth
-$456M
Cap. Flow
-$600M
Cap. Flow %
-25.17%
Top 10 Hldgs %
19.49%
Holding
265
New
88
Increased
19
Reduced
61
Closed
79

Top Buys

Rank Stock Value
1
BLK icon
Blackrock
BLK
+$37.2M
2
CL icon
Colgate-Palmolive
CL
+$33.7M
3
LAZ icon
Lazard
LAZ
+$27.9M
4
OCR
OMNICARE INC
OCR
+$25.6M
5
MJN
Mead Johnson Nutrition Company
MJN
+$23.3M

Top Sells

Rank Stock Value
1
KS
KapStone Paper and Pack Corp.
KS
+$57.8M
2
IYT icon
iShares US Transportation ETF
IYT
+$46.5M
3
UNP icon
Union Pacific
UNP
+$38.9M
4
HD icon
Home Depot
HD
+$37.9M
5
EXP icon
Eagle Materials
EXP
+$32M

Sector Composition

Rank Sector Weight
1 Industrials 11.97%
2 Financials 8.21%
3 Healthcare 7.99%
4 Technology 6.77%
5 Consumer Discretionary 4.69%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
TMO icon
226
CALL
Thermo Fisher Scientific
TMO
$214B
– –
-520,000
Closed -$62.5M
TRN icon
227
Trinity Industries
TRN
$2.59B
– –
-400,310
Closed -$10.4M
VMC icon
228
Vulcan Materials
VMC
$37.2B
– –
-121,200
Closed -$8.05M
WAT icon
229
CALL
Waters Corp
WAT
$39.3B
– –
-183,000
Closed -$19.8M
XRAY icon
230
PUT
Dentsply Sirona
XRAY
$2.76B
– –
-200,000
Closed -$9.21M
XYL icon
231
Xylem
XYL
$28.5B
– –
-291,700
Closed -$10.6M
BIG
232
PUT
DELISTED
Big Lots, Inc.
BIG
– –
-312,000
Closed -$11.8M
LL
233
DELISTED
LL Flooring Holdings, Inc.
LL
– –
-121,400
Closed -$11.4M
CLR
234
DELISTED
CONTINENTAL RESOURCES INC.
CLR
– –
-170,000
Closed -$10.6M
NUAN
235
CALL
DELISTED
Nuance Communications, Inc.
NUAN
– –
-948,255
Closed -$14.1M
CSOD
236
DELISTED
Cornerstone OnDemand, Inc.
CSOD
– –
-125,100
Closed -$5.99M
CXO
237
DELISTED
CONCHO RESOURCES INC.
CXO
– –
-128,400
Closed -$15.7M
CRR
238
DELISTED
Carbo Ceramics Inc.
CRR
– –
-105,077
Closed -$14.5M
VSI
239
PUT
DELISTED
Vitamin Shoppe Inc.
VSI
– –
-153,500
Closed -$7.29M
BID
240
DELISTED
Sotheby's
BID
– –
-628,838
Closed -$27.4M
TFCFA
241
DELISTED
Twenty-First Century Fox, Inc. Class A
TFCFA
– –
-213,800
Closed -$6.83M
ESRX
242
CALL
DELISTED
Express Scripts Holding Company
ESRX
– –
-402,500
Closed -$30.2M
ESRX
243
DELISTED
Express Scripts Holding Company
ESRX
– –
-1,750
Closed -$131K
C.WS.A
244
DELISTED
Citigroup Inc
C.WS.A
– –
-300,000
Closed -$193K
PAY
245
CALL
DELISTED
Verifone Systems Inc
PAY
– –
-414,000
Closed -$14M
CBI
246
DELISTED
Chicago Bridge & Iron Nv
CBI
– –
-197,500
Closed -$17.2M
JNS
247
PUT
DELISTED
Janus Capital Group Inc
JNS
– –
-1,040,500
Closed -$11.3M
FEIC
248
DELISTED
FEI COMPANY
FEIC
– –
-97,100
Closed -$10M
ADT
249
CALL
DELISTED
ADT Corp
ADT
– –
-884,500
Closed -$26.5M
MHFI
250
CALL
DELISTED
MCGRAW-HILL FINANCIAL INC COM
MHFI
– –
-251,500
Closed -$19.2M
7 8 9
10
11

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EAM
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CA
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TDWM
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AIM
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SCPM
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TVM
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GHI
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Sandler Capital Management's Q2 2014 Portfolio in Review

As of Q2 2014, Sandler Capital Management held 265 positions worth $2.39B, down 16% from $2.84B the previous quarter. Its ten largest holdings account for 19% of the portfolio.

Sandler Capital Management withdrew a net $600M in Q2 2014, closing 79 positions and reducing 61 holdings. Its most notable exit was iShares US Transportation ETF, an estimated $46.5M position sold in full.

By sector, the portfolio is most concentrated in Industrials at 12% of assets, down from 20% a quarter earlier, followed by Financials and Healthcare.

Against the trend, Sandler Capital Management opened a new position in Lazard worth $29.2M.

  • Sandler Capital Management's largest Q2 2014 buy was Lazard: 567,100 shares worth $29.2M.
  • Sandler Capital Management added most to Blackrock in Q2 2014, an estimated $37.2M increase.
  • Sandler Capital Management's biggest Q2 2014 reduction was KapStone Paper and Pack Corp., cutting an estimated $57.8M.
  • Sandler Capital Management fully exited iShares US Transportation ETF in Q2 2014, selling an estimated $46.5M.
  • Sandler Capital Management's ten largest holdings make up 19% of its $2.39B portfolio in Q2 2014.
  • Sandler Capital Management opened 88 new positions and closed 79 in Q2 2014.
  • Sandler Capital Management's portfolio value fell 16% quarter-over-quarter to $2.39B.

Based on Sandler Capital Management's 13F filing for Q2 2014, filed 14 Aug 2014.