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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
-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
Cap. Flow
-$651M
Cap. Flow %
-55.12%
Top 10 Hldgs %
37.03%
Holding
153
New
37
Increased
21
Reduced
35
Closed
54

Top Buys

Rank Stock Value
1
GLD icon
SPDR Gold Trust
GLD
+$48.1M
2
IEF icon
iShares 7-10 Year Treasury Bond ETF
IEF
+$32.2M
3
IJK icon
iShares S&P Mid-Cap 400 Growth ETF
IJK
+$22.2M
4
RSG icon
Republic Services
RSG
+$21.2M
5
KEYS icon
Keysight
KEYS
+$20.5M

Top Sells

Rank Stock Value
1
MA icon
Mastercard
MA
+$65.1M
2
FICO icon
Fair Isaac
FICO
+$37.7M
3
V icon
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
BKLN icon
101
Invesco Senior Loan ETF
BKLN
$6.81B
– –
-115,900
Closed -$2.69M
BOX icon
102
PUT
Box
BOX
$4.6B
– –
-500,000
Closed -$12M
BUD icon
103
PUT
AB InBev
BUD
$165B
– –
-250,000
Closed -$21.9M
CAT icon
104
Caterpillar
CAT
$387B
– –
-86,300
Closed -$13.2M
CLH icon
105
Clean Harbors
CLH
$16.3B
– –
-324,530
Closed -$23.2M
CME icon
106
CME Group
CME
$94.8B
– –
-131,553
Closed -$22.4M
CVLG icon
107
Covenant Logistics
CVLG
$872M
– –
-474,370
Closed -$6.89M
DAL icon
108
CALL
Delta Air Lines
DAL
$60.1B
– –
-172,000
Closed -$9.95M
FICO icon
109
Fair Isaac
FICO
$22.5B
– –
-164,747
Closed -$37.7M
FND icon
110
PUT
Floor & Decor
FND
$6.68B
– –
-315,000
Closed -$9.5M
FOSL icon
111
PUT
Fossil Group
FOSL
$318M
– –
-100,000
Closed -$2.33M
GOOGL icon
112
Alphabet (Google) Class A
GOOGL
$4.33T
– –
-18,000
Closed -$1.09M
HON icon
113
Honeywell
HON
$78B
– –
-60,049
Closed -$9.03M
ITUB icon
114
PUT
Itaú Unibanco
ITUB
$87.5B
– –
-577,218
Closed -$3.07M
IWM icon
115
PUT
iShares Russell 2000 ETF
IWM
$83B
– –
-1,050,000
Closed -$177M
JBHT icon
116
JB Hunt Transport Services
JBHT
$25.2B
– –
-151,084
Closed -$18M
KHC icon
117
PUT
Kraft Heinz
KHC
$30B
– –
-182,000
Closed -$10M
LNC icon
118
PUT
Lincoln National
LNC
$8.81B
– –
-203,000
Closed -$13.7M
LULU icon
119
lululemon athletica
LULU
$14.6B
– –
-72,565
Closed -$11.8M
MA icon
120
Mastercard
MA
$493B
– –
-292,626
Closed -$65.1M
MDB icon
121
CALL
MongoDB
MDB
$32.1B
– –
-125,000
Closed -$10.2M
MDY icon
122
State Street SPDR S&P MIDCAP 400 ETF Trust
MDY
$27.3B
– –
-52,000
Closed -$19.1M
META icon
123
Meta Platforms (Facebook)
META
$1.51T
– –
-4,200
Closed -$691K
MGA icon
124
PUT
Magna International
MGA
$18.8B
– –
-300,000
Closed -$15.8M
MO icon
125
PUT
Altria Group
MO
$114B
– –
-626,000
Closed -$37.8M
2 3 4
5
6

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CA
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TVM
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GHI
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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.