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SCM

Sandler Capital Management Portfolio holdings

AUM $193M
1-Year Est. Return 77.14%
This Fund
S&P 500
This Quarter Est. Return
+13.67%
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
$1.9B
AUM Growth
-$211M
Cap. Flow
-$338M
Cap. Flow %
-17.8%
Top 10 Hldgs %
19.73%
Holding
284
New
106
Increased
25
Reduced
56
Closed
86

Top Buys

Rank Stock Value
1
WELL icon
Welltower
WELL
+$22.3M
2
IHI icon
iShares US Medical Devices ETF
IHI
+$20.3M
3
HUM icon
Humana
HUM
+$19.9M
4
IT icon
Gartner
IT
+$17.3M
5
BLK icon
Blackrock
BLK
+$15.6M

Top Sells

Rank Stock Value
1
V icon
Visa
V
+$46M
2
GOOG icon
Alphabet (Google) Class C
GOOG
+$38.1M
3
META icon
Meta Platforms (Facebook)
META
+$34.7M
4
MJN
Mead Johnson Nutrition Company
MJN
+$26.1M
5
DIS icon
Walt Disney
DIS
+$23.9M

Sector Composition

Rank Sector Weight
1 Healthcare 11.4%
2 Consumer Discretionary 10.25%
3 Industrials 9.76%
4 Technology 8.61%
5 Real Estate 7.4%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
ESRX
251
CALL
DELISTED
Express Scripts Holding Company
ESRX
– –
-304,400
Closed -$21.5M
KS
252
CALL
DELISTED
KapStone Paper and Pack Corp.
KS
– –
-250,800
Closed -$7.01M
PX
253
DELISTED
Praxair Inc
PX
– –
-136,800
Closed -$17.6M
PAY
254
DELISTED
Verifone Systems Inc
PAY
– –
-122,990
Closed -$4.23M
KATE
255
PUT
DELISTED
Kate Spade & Company
KATE
– –
-525,000
Closed -$13.8M
MJN
256
DELISTED
Mead Johnson Nutrition Company
MJN
– –
-271,158
Closed -$26.1M
JNS
257
PUT
DELISTED
Janus Capital Group Inc
JNS
– –
-1,000,000
Closed -$14.5M
APOL
258
PUT
DELISTED
Apollo Education Group Inc Class A
APOL
– –
-382,200
Closed -$9.61M
RAX
259
CALL
DELISTED
Rackspace Hosting Inc
RAX
– –
-280,000
Closed -$9.11M
CSH
260
PUT
DELISTED
CASH AMERICA INTERNATIONAL INC
CSH
– –
-862,866
Closed -$17.1M
LINE
261
PUT
DELISTED
LINN ENERGY LLC COM UTS REP LTD LIABILITY CO INTS
LINE
– –
-1,218,100
Closed -$36.7M
SNDK
262
CALL
DELISTED
SANDISK CORP
SNDK
– –
-57,200
Closed -$5.6M
GDP
263
PUT
DELISTED
GOODRICH PETROLEUM CORP(NEW)
GDP
– –
-300,000
Closed -$4.45M
ACI
264
PUT
DELISTED
ARCH COAL, INC.
ACI
– –
-153,480
Closed -$3.25M
PLL
265
CALL
DELISTED
PALL CORP
PLL
– –
-300,000
Closed -$25.1M
CFN
266
DELISTED
CAREFUSION CORPORATION
CFN
– –
-198,000
Closed -$8.96M
CNQR
267
CALL
DELISTED
CONCUR TECHNOLOGIES INC
CNQR
– –
-45,400
Closed -$5.76M
CNQR
268
DELISTED
CONCUR TECHNOLOGIES INC
CNQR
– –
-53,100
Closed -$6.73M
GTAT
269
CALL
DELISTED
GT ADVANCED TECHNOLOGIES INC COM STK (DE)
GTAT
– –
-104,700
Closed -$1.13M
GTAT
270
PUT
DELISTED
GT ADVANCED TECHNOLOGIES INC COM STK (DE)
GTAT
– –
-1,000,000
Closed -$10.8M
WLL
271
DELISTED
Whiting Petroleum Corporation
WLL
– –
-192
Closed -$4.46M
DTYS
272
DELISTED
iPath US Treasury 10-year Bear ETN
DTYS
– –
-16,365
Closed -$432K
LPNT
273
DELISTED
LifePoint Health, Inc.
LPNT
– –
-112,377
Closed -$7.78M
DO
274
PUT
DELISTED
Diamond Offshore Drilling
DO
– –
-300,000
Closed -$10.3M
HK
275
PUT
DELISTED
Halcon Resources Corporation
HK
– –
-7,007
Closed -$4.78M
8 9 10
11
12

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Sandler Capital Management's Q4 2014 Portfolio in Review

As of Q4 2014, Sandler Capital Management held 284 positions worth $1.9B, down 10% from $2.11B the previous quarter. Its ten largest holdings account for 20% of the portfolio.

Sandler Capital Management withdrew a net $338M in Q4 2014, closing 86 positions and reducing 56 holdings. Its most notable exit was Alphabet (Google) Class C, an estimated $38.1M position sold in full.

By sector, the portfolio is most concentrated in Healthcare at 11% of assets, up from 8.3% a quarter earlier, followed by Consumer Discretionary and Industrials.

Against the trend, Sandler Capital Management opened a new position in Welltower worth $23.6M.

  • Sandler Capital Management's largest Q4 2014 buy was Welltower: 311,800 shares worth $23.6M.
  • Sandler Capital Management added most to Universal Health Services in Q4 2014, an estimated $15.1M increase.
  • Sandler Capital Management's biggest Q4 2014 reduction was Visa, cutting an estimated $46M.
  • Sandler Capital Management fully exited Alphabet (Google) Class C in Q4 2014, selling an estimated $38.1M.
  • Sandler Capital Management's ten largest holdings make up 20% of its $1.9B portfolio in Q4 2014.
  • Sandler Capital Management opened 106 new positions and closed 86 in Q4 2014.
  • Sandler Capital Management's portfolio value fell 10% quarter-over-quarter to $1.9B.

Based on Sandler Capital Management's 13F filing for Q4 2014, filed 17 Feb 2015.