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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
+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
Cap. Flow
-$340M
Cap. Flow %
-39.01%
Top 10 Hldgs %
34.55%
Holding
131
New
22
Increased
21
Reduced
24
Closed
62

Top Buys

Rank Stock Value
1
BAC icon
Bank of America
BAC
+$32.8M
2
META icon
Meta Platforms (Facebook)
META
+$23.5M
3
AAPL icon
Apple
AAPL
+$16M
4
KSU
Kansas City Southern
KSU
+$15.5M
5
MSFT icon
Microsoft
MSFT
+$14M

Top Sells

Rank Stock Value
1
ABT icon
Abbott
ABT
+$22.7M
2
IJK icon
iShares S&P Mid-Cap 400 Growth ETF
IJK
+$18.1M
3
AVB icon
AvalonBay Communities
AVB
+$16.1M
4
RGEN icon
Repligen
RGEN
+$11.1M
5
VMC icon
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
MS icon
101
PUT
Morgan Stanley
MS
$339B
– –
-450,000
Closed -$19.2M
MTH icon
102
Meritage Homes
MTH
$4.87B
– –
-198,000
Closed -$6.96M
NOC icon
103
Northrop Grumman
NOC
$81.1B
– –
-10,100
Closed -$3.79M
NOVT icon
104
Novanta
NOVT
$5.97B
– –
-65,198
Closed -$5.33M
NSC icon
105
Norfolk Southern
NSC
$75.4B
– –
-1,500
Closed -$269K
NXPI icon
106
CALL
NXP Semiconductors
NXPI
$60.3B
– –
-40,000
Closed -$4.37M
ON icon
107
ON Semiconductor
ON
$19.3B
– –
-10,000
Closed -$192K
PFE icon
108
Pfizer
PFE
$152B
– –
-6,429
Closed -$219K
QCOM icon
109
Qualcomm
QCOM
$176B
– –
-71,926
Closed -$5.49M
RVLV icon
110
Revolve Group
RVLV
$1.73B
– –
-182,990
Closed -$4.28M
SAM icon
111
Boston Beer
SAM
$1.91B
– –
-10,115
Closed -$3.68M
SBH icon
112
PUT
Sally Beauty Holdings
SBH
$1.58B
– –
-700,000
Closed -$10.4M
SNDR icon
113
PUT
Schneider National
SNDR
$6.27B
– –
-300,000
Closed -$6.52M
SPGI icon
114
S&P Global
SPGI
$120B
– –
-900
Closed -$220K
UPS icon
115
United Parcel Service
UPS
$89.2B
– –
-60,000
Closed -$7.19M
URI icon
116
United Rentals
URI
$72.4B
– –
-1,700
Closed -$212K
USO icon
117
CALL
United States Oil Fund
USO
$1.84B
– –
-187,500
Closed -$17M
WBS icon
118
PUT
Webster Financial
WBS
$12.8B
– –
-270,000
Closed -$12.7M
YETI icon
119
PUT
Yeti Holdings
YETI
$3.94B
– –
-200,000
Closed -$5.6M
TUP
120
PUT
DELISTED
Tupperware Brands Corporation
TUP
– –
-400,000
Closed -$6.35M
NSTG
121
DELISTED
NanoString Technologies, Inc.
NSTG
– –
-103,566
Closed -$2.24M
GRUB
122
PUT
DELISTED
Just Eat Takeaway.com N.V. American Depositary Shares
GRUB
– –
-100,000
Closed -$11.2M
WDR
123
PUT
DELISTED
Waddell & Reed Financial, Inc.
WDR
– –
-1,200,000
Closed -$20.6M
ARCH
124
DELISTED
Arch Resources, Inc.
ARCH
– –
-4,300
Closed -$319K
BDXA
125
DELISTED
Becton, Dickinson and Company Depositary Shares, each Representing a 1/20th Interest in a Share of 6
BDXA
– –
-6,650
Closed -$412K
2 3 4
5
6

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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.