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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
+8.92%
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
$305M
AUM Growth
-$35.2M
Cap. Flow
-$45.3M
Cap. Flow %
-14.83%
Top 10 Hldgs %
23.22%
Holding
201
New
57
Increased
30
Reduced
54
Closed
60

Top Buys

Rank Stock Value
1
TEL icon
TE Connectivity
TEL
+$3.87M
2
HON icon
Honeywell
HON
+$3.06M
3
MRK icon
Merck
MRK
+$2.62M
4
KEYS icon
Keysight
KEYS
+$2.53M
5
BAC icon
Bank of America
BAC
+$2.47M

Top Sells

Rank Stock Value
1
META icon
Meta Platforms (Facebook)
META
+$8.29M
2
LITE icon
Lumentum
LITE
+$5.53M
3
GLW icon
Corning
GLW
+$4.7M
4
TJX icon
TJX Companies
TJX
+$3.95M
5
CLH icon
Clean Harbors
CLH
+$3.84M

Sector Composition

Rank Sector Weight
1 Technology 19.75%
2 Industrials 12.7%
3 Communication Services 10.79%
4 Healthcare 7.54%
5 Consumer Discretionary 5.86%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
INFY icon
26
CALL
Infosys
INFY
$50.7B
$3.21M 1.05%
+180,000
New +$3.11M
HON icon
27
Honeywell
HON
$78B
$3.05M 1%
+15,650
New +$3.06M
AMZN icon
28
Amazon
AMZN
$2.96T
$2.96M 0.97%
12,838
-1,846
-13% -$422K
MRK icon
29
Merck
MRK
$318B
$2.94M 0.96%
+27,900
New +$2.62M
SPHR icon
30
Sphere Entertainment
SPHR
$5.73B
$2.89M 0.95%
30,377
-14,051
-32% -$1.07M
DY icon
31
Dycom Industries
DY
$12.3B
$2.84M 0.93%
8,405
-2,779
-25% -$876K
BHP icon
32
BHP
BHP
$230B
$2.82M 0.92%
46,732
-10,336
-18% -$587K
CZR icon
33
PUT
Caesars Entertainment
CZR
$6.14B
$2.81M 0.92%
120,000
+81,000
+208% +$1.82M
UAL icon
34
CALL
United Airlines
UAL
$42.1B
$2.71M 0.89%
24,200
+9,700
+67% +$980K
APH icon
35
CALL
Amphenol
APH
$209B
$2.7M 0.89%
+20,000
New +$2.68M
CRH icon
36
CRH
CRH
$66.8B
$2.65M 0.87%
21,246
-2,235
-10% -$266K
FOR icon
37
Forestar Group
FOR
$1.51B
$2.59M 0.85%
105,354
+55,589
+112% +$1.42M
AVY icon
38
Avery Dennison
AVY
$13.4B
$2.58M 0.85%
+14,200
New +$2.46M
SYY icon
39
PUT
Sysco
SYY
$40.3B
$2.58M 0.84%
+35,000
New +$2.66M
BAC icon
40
Bank of America
BAC
$442B
$2.57M 0.84%
+46,664
New +$2.47M
RL icon
41
Ralph Lauren
RL
$23.6B
$2.48M 0.81%
+7,006
New +$2.39M
TDY icon
42
Teledyne Technologies
TDY
$32B
$2.48M 0.81%
4,848
-452
-9% -$238K
A icon
43
Agilent Technologies
A
$41.2B
$2.46M 0.81%
18,113
-3,476
-16% -$500K
TRMB icon
44
Trimble
TRMB
$13.9B
$2.46M 0.8%
31,350
-8,545
-21% -$681K
CBOE icon
45
Cboe Global Markets
CBOE
$29.9B
$2.42M 0.79%
9,630
-4,166
-30% -$1.04M
MLM icon
46
Martin Marietta Materials
MLM
$33B
$2.37M 0.77%
3,799
-845
-18% -$526K
HNGE
47
Hinge Health
HNGE
$7.21B
$2.33M 0.76%
50,179
-2,549
-5% -$123K
XRT icon
48
State Street SPDR S&P Retail ETF
XRT
$654M
$2.33M 0.76%
+27,300
New +$2.29M
LLY icon
49
Eli Lilly
LLY
$1.06T
$2.31M 0.76%
2,152
+211
+11% +$202K
TLN
50
Talen Energy Corp
TLN
$16.7B
$2.22M 0.73%
5,928
+915
+18% +$356K
1
2
3 4 5

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Sandler Capital Management's Q4 2025 Portfolio in Review

As of Q4 2025, Sandler Capital Management held 201 positions worth $305M, down 10% from $340M the previous quarter. Its ten largest holdings account for 23% of the portfolio.

Sandler Capital Management withdrew a net $45.3M in Q4 2025, closing 60 positions and reducing 54 holdings. Its most notable exit was Lumentum, an estimated $5.53M position sold in full.

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

Against the trend, Sandler Capital Management opened a new position in TE Connectivity worth $3.81M.

  • Sandler Capital Management's largest Q4 2025 buy was TE Connectivity: 16,737 shares worth $3.81M.
  • Sandler Capital Management added most to Keysight in Q4 2025, an estimated $2.53M increase.
  • Sandler Capital Management's biggest Q4 2025 reduction was Meta Platforms (Facebook), cutting an estimated $8.29M.
  • Sandler Capital Management fully exited Lumentum in Q4 2025, selling an estimated $5.53M.
  • Sandler Capital Management's ten largest holdings make up 23% of its $305M portfolio in Q4 2025.
  • Sandler Capital Management opened 57 new positions and closed 60 in Q4 2025.
  • Sandler Capital Management's portfolio value fell 10% quarter-over-quarter to $305M.

Based on Sandler Capital Management's 13F filing for Q4 2025, filed 17 Feb 2026.