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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
-6.45%
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
$1.18B
AUM Growth
-$800M
(-40%)
Cap. Flow
-$651M
Cap. Flow
% of AUM
-55.12%
Top 10 Holdings %
Top 10 Hldgs %
37.03%
Holding
153
New
37
Increased
21
Reduced
35
Closed
54
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
SPDR Gold Trust
GLD
|
+$48.1M |
| 2 |
iShares 7-10 Year Treasury Bond ETF
IEF
|
+$32.2M |
| 3 |
iShares S&P Mid-Cap 400 Growth ETF
IJK
|
+$22.2M |
| 4 |
Republic Services
RSG
|
+$21.2M |
| 5 |
Keysight
KEYS
|
+$20.5M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Mastercard
MA
|
+$65.1M |
| 2 |
Fair Isaac
FICO
|
+$37.7M |
| 3 |
Visa
V
|
+$36.3M |
| 4 |
WCN
Waste Connections
WCN
|
+$30.9M |
| 5 |
MLNX
Mellanox Technologies, Ltd.
MLNX
|
+$26.7M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 13.95% |
| 2 | Healthcare | 6.46% |
| 3 | Industrials | 5% |
| 4 | Real Estate | 4.56% |
| 5 | Financials | 4.32% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
SAIL
26
DELISTED
SailPoint Technologies Holdings, Inc. Common Stock
SAIL
| $15.8M | 1.34% |
674,380
+244,151
| +57% | +$6.26M |
|
27
PayPal
PYPL
$51.1B
| $15.6M | 1.32% |
+185,000
| New | +$15.4M |
|
28
Exponent
EXPO
$3.21B
| $15.2M | 1.29% |
300,658
-8,559
| -3% | -$429K |
|
29
PUT
Brighthouse Financial
BHF
$3.57B
| $15.2M | 1.29% |
500,000
+272,000
| +119% | +$10.6M |
|
30
CALL
Nutanix
NTNX
$16.3B
| $15M | 1.27% |
360,000
+60,000
| +20% | +$2.48M |
|
|
ATH
31
PUT
DELISTED
Athene Holding Ltd. Class A Common Shares
ATH
| $13.9M | 1.18% |
+350,000
| New | +$15.8M |
|
32
Intuitive Surgical
ISRG
$132B
| $13.3M | 1.13% |
83,559
+44,979
| +117% | +$7.62M |
|
33
CALL
Lennar Class A
LEN
$20.4B
| $12.9M | 1.09% |
+340,890
| New | +$13.9M |
|
|
XLNX
34
DELISTED
Xilinx Inc
XLNX
| $12.1M | 1.02% |
141,958
-100,400
| -41% | -$8.39M |
|
35
BioLife Solutions
BLFS
$1.66B
| $11.6M | 0.99% |
968,073
+184,253
| +24% | +$2.2M |
|
|
AXON
36
Axon Enterprise
AXON
$42.1B
| $11M | 0.93% |
251,445
+24,700
| +11% | +$1.28M |
|
37
iShares US Home Construction ETF
ITB
$2.28B
| $11M | 0.93% |
+365,000
| New | +$11.5M |
|
|
I
38
CALL
DELISTED
INTELSAT S. A.
I
| $10.7M | 0.91% |
+500,000
| New | +$13.5M |
|
39
PUT
Citigroup
C
$224B
| $10.4M | 0.88% |
+200,000
| New | +$12.7M |
|
|
RDFN
40
PUT
DELISTED
Redfin
RDFN
| $10.4M | 0.88% |
+720,000
| New | +$11.4M |
|
41
Abbott
ABT
$187B
| $10.3M | 0.88% |
142,796
-89,074
| -38% | -$6.26M |
|
42
CALL
Texas Instruments
TXN
$254B
| $9.45M | 0.8% |
+100,000
| New | +$9.68M |
|
43
Novanta
NOVT
$5.82B
| $9.38M | 0.79% |
148,813
+90,938
| +157% | +$5.86M |
|
44
Live Nation Entertainment
LYV
$42.3B
| $9.25M | 0.78% |
187,884
-50,970
| -21% | -$2.69M |
|
|
CTXS
45
DELISTED
Citrix Systems Inc
CTXS
| $8.96M | 0.76% |
87,427
-157,284
| -64% | -$16.6M |
|
|
NEWR
46
DELISTED
New Relic, Inc.
NEWR
| $8.68M | 0.74% |
107,160
-78,670
| -42% | -$6.63M |
|
47
Teradyne
TER
$60.2B
| $8.54M | 0.72% |
272,073
-57,171
| -17% | -$1.94M |
|
|
ENDP
48
PUT
DELISTED
Endo International plc
ENDP
| $8.31M | 0.7% |
1,138,000
+15,000
| +1% | +$206K |
|
49
PUT
Morgan Stanley
MS
$336B
| $7.93M | 0.67% |
+200,000
| New | +$8.73M |
|
50
Zscaler
ZS
$26.3B
| $7.84M | 0.66% |
200,000
-205,544
| -51% | -$7.76M |
|
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Sandler Capital Management's Q4 2018 Portfolio in Review
As of Q4 2018, Sandler Capital Management held 153 positions worth $1.18B, down 40% from $1.98B the previous quarter. Its ten largest holdings account for 37% of the portfolio.
Sandler Capital Management withdrew a net $651M in Q4 2018, closing 54 positions and reducing 35 holdings. Its most notable exit was Mastercard, an estimated $65.1M position sold in full.
By sector, the portfolio is most concentrated in Technology at 14% of assets, down from 14% a quarter earlier, followed by Healthcare and Industrials.
Against the trend, Sandler Capital Management opened a new position in SPDR Gold Trust worth $50.2M.
- Sandler Capital Management's largest Q4 2018 buy was SPDR Gold Trust: 414,000 shares worth $50.2M.
- Sandler Capital Management added most to Keysight in Q4 2018, an estimated $20.5M increase.
- Sandler Capital Management's biggest Q4 2018 reduction was Visa, cutting an estimated $36.3M.
- Sandler Capital Management fully exited Mastercard in Q4 2018, selling an estimated $65.1M.
- Sandler Capital Management's ten largest holdings make up 37% of its $1.18B portfolio in Q4 2018.
- Sandler Capital Management opened 37 new positions and closed 54 in Q4 2018.
- Sandler Capital Management's portfolio value fell 40% quarter-over-quarter to $1.18B.
Based on Sandler Capital Management's 13F filing for Q4 2018, filed 14 Feb 2019.