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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
+4.01%
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
$1.14B
AUM Growth
-$355M
(-24%)
Cap. Flow
-$327M
Cap. Flow
% of AUM
-28.6%
Top 10 Holdings %
Top 10 Hldgs %
27.17%
Holding
164
New
28
Increased
30
Reduced
31
Closed
55
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Abbott
ABT
|
+$10.8M |
| 2 |
TransUnion
TRU
|
+$10.3M |
| 3 |
Mastercard
MA
|
+$9.97M |
| 4 |
Verisk Analytics
VRSK
|
+$8.53M |
| 5 |
Vail Resorts
MTN
|
+$8.29M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
SPDR Gold Trust
GLD
|
+$38.5M |
| 2 |
Blackstone
BX
|
+$25.9M |
| 3 |
Live Nation Entertainment
LYV
|
+$22.2M |
| 4 |
IQVIA
IQV
|
+$17.2M |
| 5 |
Microsoft
MSFT
|
+$15.5M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Healthcare | 9.82% |
| 2 | Industrials | 8.89% |
| 3 | Financials | 6.18% |
| 4 | Technology | 4.34% |
| 5 | Consumer Discretionary | 3.81% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
26
CALL
United States Oil Fund
USO
$1.86B
| $17M | 1.49% |
+187,500
| New | +$17.6M |
|
27
Clean Harbors
CLH
$16.2B
| $16.7M | 1.47% |
216,743
-73,360
| -25% | -$5.43M |
|
28
AvalonBay Communities
AVB
$26.6B
| $16.1M | 1.41% |
74,603
-59,572
| -44% | -$12.5M |
|
29
PUT
Macy's
M
$6.61B
| $15.5M | 1.36% |
1,000,000
+400,000
| +67% | +$7.41M |
|
30
PUT
Altria Group
MO
$113B
| $15.1M | 1.33% |
370,000
| – | – |
|
31
Vulcan Materials
VMC
$36.5B
| $15.1M | 1.32% |
99,691
+11,059
| +12% | +$1.56M |
|
32
PUT
Barclays
BCS
$95B
| $14.7M | 1.29% |
2,000,000
+1,326,076
| +197% | +$9.59M |
|
33
Repligen
RGEN
$9B
| $14.2M | 1.24% |
185,085
-18,738
| -9% | -$1.64M |
|
|
RDFN
34
PUT
DELISTED
Redfin
RDFN
| $13.5M | 1.18% |
800,000
+300,000
| +60% | +$5.29M |
|
35
Tetra Tech
TTEK
$8.89B
| $13.4M | 1.17% |
770,725
-71,605
| -9% | -$1.17M |
|
36
PUT
Ryder
R
$10.1B
| $12.9M | 1.13% |
250,000
+175,000
| +233% | +$9.14M |
|
37
PUT
Webster Financial
WBS
$12.8B
| $12.7M | 1.11% |
270,000
-4,200
| -2% | -$199K |
|
38
Thermo Fisher Scientific
TMO
$214B
| $12.2M | 1.07% |
42,012
-48,275
| -53% | -$13.8M |
|
39
PUT
Fluor
FLR
$6.81B
| $11.5M | 1.01% |
+600,000
| New | +$14.3M |
|
|
GRUB
40
PUT
DELISTED
Just Eat Takeaway.com N.V. American Depositary Shares
GRUB
| $11.2M | 0.98% |
+100,000
| New | +$13.3M |
|
41
PUT
B&G Foods
BGS
$278M
| $10.8M | 0.94% |
570,000
-300,000
| -34% | -$5.76M |
|
42
BioLife Solutions
BLFS
$1.66B
| $10.4M | 0.91% |
627,768
-240,000
| -28% | -$4.5M |
|
43
PUT
Sally Beauty Holdings
SBH
$1.51B
| $10.4M | 0.91% |
700,000
| – | – |
|
44
PUT
G-III Apparel Group
GIII
$1.51B
| $10.3M | 0.9% |
+400,000
| New | +$10M |
|
45
PUT
Affiliated Managers Group
AMG
$9.83B
| $10M | 0.88% |
120,000
+3,200
| +3% | +$267K |
|
46
PUT
Caesars Entertainment
CZR
$6.12B
| $9.97M | 0.87% |
+250,000
| New | +$10.6M |
|
|
JNPR
47
PUT
DELISTED
Juniper Networks
JNPR
| $9.9M | 0.87% |
400,000
| – | – |
|
48
PUT
iQIYI
IQ
$1.24B
| $9.68M | 0.85% |
+600,000
| New | +$11M |
|
49
Teradyne
TER
$60.2B
| $9.55M | 0.84% |
165,000
+11,152
| +7% | +$590K |
|
|
50
Verisk Analytics
VRSK
$24.7B
| $8.7M | 0.76% |
+55,000
| New | +$8.53M |
|
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Sandler Capital Management's Q3 2019 Portfolio in Review
As of Q3 2019, Sandler Capital Management held 164 positions worth $1.14B, down 24% from $1.5B the previous quarter. Its ten largest holdings account for 27% of the portfolio.
Sandler Capital Management withdrew a net $327M in Q3 2019, closing 55 positions and reducing 31 holdings. Its most notable exit was SPDR Gold Trust, an estimated $38.5M position sold in full.
By sector, the portfolio is most concentrated in Healthcare at 9.8% of assets, up from 9.2% a quarter earlier, followed by Industrials and Financials.
Against the trend, Sandler Capital Management opened a new position in Verisk Analytics worth $8.7M.
- Sandler Capital Management's largest Q3 2019 buy was Verisk Analytics: 55,000 shares worth $8.7M.
- Sandler Capital Management added most to Abbott in Q3 2019, an estimated $10.8M increase.
- Sandler Capital Management's biggest Q3 2019 reduction was Microsoft, cutting an estimated $15.5M.
- Sandler Capital Management fully exited SPDR Gold Trust in Q3 2019, selling an estimated $38.5M.
- Sandler Capital Management's ten largest holdings make up 27% of its $1.14B portfolio in Q3 2019.
- Sandler Capital Management opened 28 new positions and closed 55 in Q3 2019.
- Sandler Capital Management's portfolio value fell 24% quarter-over-quarter to $1.14B.
Based on Sandler Capital Management's 13F filing for Q3 2019, filed 14 Nov 2019.