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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
ULTA icon
51
Ulta Beauty
ULTA
$24.3B
$2.2M 0.72%
3,633
+1,961
+117% +$1.08M
SOFI icon
52
CALL
SoFi Technologies
SOFI
$23.7B
$2.16M 0.71%
+82,500
New +$2.3M
LYV icon
53
Live Nation Entertainment
LYV
$42.1B
$2.15M 0.71%
15,109
+7,281
+93% +$1.05M
M icon
54
PUT
Macy's
M
$6.68B
$2.14M 0.7%
97,100
-2,900
-3% -$59.4K
CBRE icon
55
CBRE Group
CBRE
$42.9B
$2.12M 0.69%
13,193
-3,371
-20% -$530K
LHX icon
56
L3Harris
LHX
$53.4B
$2.12M 0.69%
7,217
+3,565
+98% +$1.03M
UPST icon
57
PUT
Upstart Holdings
UPST
$3.03B
$2.12M 0.69%
48,400
+19,000
+65% +$875K
SHOO icon
58
CALL
Steven Madden
SHOO
$3.55B
$2.08M 0.68%
+50,000
New +$1.93M
AAPL icon
59
Apple
AAPL
$4.57T
$2.05M 0.67%
7,554
-9,498
-56% -$2.55M
SXT icon
60
Sensient Technologies
SXT
$5.53B
$2.02M 0.66%
21,521
+11,201
+109% +$1.06M
EL icon
61
PUT
Estee Lauder
EL
$32B
$1.98M 0.65%
18,900
-10,200
-35% -$990K
HIMS icon
62
PUT
Hims & Hers Health
HIMS
$7.31B
$1.95M 0.64%
+60,000
New +$2.57M
BLK icon
63
Blackrock
BLK
$176B
$1.93M 0.63%
+1,800
New +$1.97M
SBUX icon
64
Starbucks
SBUX
$120B
$1.87M 0.61%
+22,200
New +$1.87M
SHOO icon
65
Steven Madden
SHOO
$3.55B
$1.86M 0.61%
+44,599
New +$1.72M
FLO icon
66
PUT
Flowers Foods
FLO
$1.57B
$1.84M 0.6%
169,500
-77,900
-31% -$904K
QDEL icon
67
QuidelOrtho
QDEL
$838M
$1.84M 0.6%
+64,313
New +$1.74M
STLD icon
68
Steel Dynamics
STLD
$37.6B
$1.83M 0.6%
10,790
+4,948
+85% +$786K
LION icon
69
CALL
Lionsgate Studios
LION
$3.86B
$1.69M 0.55%
185,300
+14,900
+9% +$106K
AXON
70
Axon Enterprise
AXON
$46.4B
$1.66M 0.55%
2,930
+357
+14% +$222K
VMI icon
71
Valmont Industries
VMI
$9.53B
$1.63M 0.53%
4,047
-4,889
-55% -$1.99M
GD icon
72
General Dynamics
GD
$106B
$1.63M 0.53%
4,830
+3,330
+222% +$1.14M
MSFT icon
73
Microsoft
MSFT
$3.71T
$1.61M 0.53%
3,333
-1,873
-36% -$939K
CRM icon
74
Salesforce
CRM
$158B
$1.59M 0.52%
+6,000
New +$1.49M
ROK icon
75
Rockwell Automation
ROK
$49B
$1.56M 0.51%
4,020
+927
+30% +$348K
1 2
3
4 5

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CA
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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.