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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
+14.62%
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
$871M
AUM Growth
-$271M
(-24%)
Cap. Flow
-$340M
Cap. Flow
% of AUM
-39.01%
Top 10 Holdings %
Top 10 Hldgs %
34.55%
Holding
131
New
22
Increased
21
Reduced
24
Closed
62
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Bank of America
BAC
|
+$32.8M |
| 2 |
Meta Platforms (Facebook)
META
|
+$23.5M |
| 3 |
Apple
AAPL
|
+$16M |
| 4 |
KSU
Kansas City Southern
KSU
|
+$15.5M |
| 5 |
Microsoft
MSFT
|
+$14M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Abbott
ABT
|
+$22.7M |
| 2 |
iShares S&P Mid-Cap 400 Growth ETF
IJK
|
+$18.1M |
| 3 |
AvalonBay Communities
AVB
|
+$16.1M |
| 4 |
Repligen
RGEN
|
+$11.1M |
| 5 |
Vulcan Materials
VMC
|
+$8.19M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 14.9% |
| 2 | Industrials | 13.82% |
| 3 | Technology | 13.23% |
| 4 | Healthcare | 9.01% |
| 5 | Communication Services | 4.23% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
ANSS
51
DELISTED
Ansys
ANSS
| $6.47M | 0.74% |
+25,139
| New | +$5.95M |
|
52
Thermo Fisher Scientific
TMO
$220B
| $6.28M | 0.72% |
19,334
-22,678
| -54% | -$6.88M |
|
|
IPHI
53
DELISTED
INPHI CORPORATION
IPHI
| $6.26M | 0.72% |
+84,614
| New | +$5.81M |
|
|
54
Vulcan Materials
VMC
$36.9B
| $6.12M | 0.7% |
42,506
-57,185
| -57% | -$8.19M |
|
55
Kratos Defense & Security Solutions
KTOS
$11.4B
| $5.78M | 0.66% |
320,680
+38,209
| +14% | +$709K |
|
|
56
Repligen
RGEN
$9.25B
| $4.94M | 0.57% |
53,359
-131,726
| -71% | -$11.1M |
|
57
NXP Semiconductors
NXPI
$60.4B
| $4.89M | 0.56% |
38,435
+34,735
| +939% | +$4.03M |
|
58
Generac Holdings
GNRC
$12.5B
| $4.84M | 0.56% |
+48,084
| New | +$4.48M |
|
59
PUT
B&G Foods
BGS
$286M
| $3.77M | 0.43% |
210,000
-360,000
| -63% | -$6.06M |
|
60
Universal Display
OLED
$4.19B
| $3.6M | 0.41% |
+17,451
| New | +$3.3M |
|
|
HR
61
DELISTED
Healthcare Realty Trust Incorporated
HR
| $3.5M | 0.4% |
104,813
-110,476
| -51% | -$3.66M |
|
|
S
62
PUT
DELISTED
Sprint Corporation
S
| $2.85M | 0.33% |
+548,000
| New | +$3.21M |
|
|
MNK
63
PUT
DELISTED
MALLINCKRODT PUBLIC LIMITED COMPANY
MNK
| $767K | 0.09% |
219,700
-80,300
| -27% | -$251K |
|
64
Gaming and Leisure Properties
GLPI
$12.8B
| $224K | 0.03% |
5,200
-9,400
| -64% | -$386K |
|
|
MPT
65
Medical Properties Trust
MPT
$2.81B
| $211K | 0.02% |
10,000
-18,000
| -64% | -$364K |
|
|
CONE
66
DELISTED
CyrusOne Inc Common Stock
CONE
| $209K | 0.02% |
3,200
-3,500
| -52% | -$240K |
|
67
W&T Offshore
WTI
$518M
| $195K | 0.02% |
35,000
-65,000
| -65% | -$289K |
|
|
68
Abbott
ABT
$187B
| – | – |
-271,130
| Closed | -$22.7M |
|
69
PUT
Affiliated Managers Group
AMG
$9.76B
| – | – |
-120,000
| Closed | -$10M |
|
|
70
AvalonBay Communities
AVB
$26.8B
| – | – |
-74,603
| Closed | -$16.1M |
|
71
PUT
Brunswick
BC
$5.28B
| – | – |
-400,000
| Closed | -$20.8M |
|
72
PUT
Barclays
BCS
$94.1B
| – | – |
-2,000,000
| Closed | -$14.7M |
|
|
BNY
73
PUT
Bank of New York Mellon
BNY
$107B
| – | – |
-500,000
| Closed | -$22.6M |
|
74
PUT
Citigroup
C
$226B
| – | – |
-100,000
| Closed | -$6.91M |
|
75
Cisco
CSCO
$479B
| – | – |
-8,700
| Closed | -$430K |
|
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Sandler Capital Management's Q4 2019 Portfolio in Review
As of Q4 2019, Sandler Capital Management held 131 positions worth $871M, down 24% from $1.14B the previous quarter. Its ten largest holdings account for 35% of the portfolio.
Sandler Capital Management withdrew a net $340M in Q4 2019, closing 62 positions and reducing 24 holdings. Its most notable exit was Abbott, an estimated $22.7M position sold in full.
By sector, the portfolio is most concentrated in Financials at 15% of assets, up from 6.2% a quarter earlier, followed by Industrials and Technology.
Against the trend, Sandler Capital Management opened a new position in Bank of America worth $35.7M.
- Sandler Capital Management's largest Q4 2019 buy was Bank of America: 1,014,561 shares worth $35.7M.
- Sandler Capital Management added most to Microsoft in Q4 2019, an estimated $14M increase.
- Sandler Capital Management's biggest Q4 2019 reduction was Repligen, cutting an estimated $11.1M.
- Sandler Capital Management fully exited Abbott in Q4 2019, selling an estimated $22.7M.
- Sandler Capital Management's ten largest holdings make up 35% of its $871M portfolio in Q4 2019.
- Sandler Capital Management opened 22 new positions and closed 62 in Q4 2019.
- Sandler Capital Management's portfolio value fell 24% quarter-over-quarter to $871M.
Based on Sandler Capital Management's 13F filing for Q4 2019, filed 14 Feb 2020.