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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
PARA
126
PUT
DELISTED
Paramount Global Class B
PARA
– –
-348,000
Closed -$20M
PTC icon
127
PTC
PTC
$16B
– –
-83,870
Closed -$8.91M
ROK icon
128
Rockwell Automation
ROK
$49B
– –
-31,948
Closed -$5.99M
TECH icon
129
Bio-Techne
TECH
$11.3B
– –
-156,440
Closed -$7.98M
TECK icon
130
CALL
Teck Resources
TECK
$32.6B
– –
-250,000
Closed -$6.03M
TECK icon
131
Teck Resources
TECK
$32.6B
– –
-13,400
Closed -$323K
UNM icon
132
PUT
Unum
UNM
$14.3B
– –
-1,433,000
Closed -$56M
UNP icon
133
Union Pacific
UNP
$174B
– –
-59,493
Closed -$9.69M
UPS icon
134
United Parcel Service
UPS
$88.9B
– –
-113,695
Closed -$13.3M
WCN
135
Waste Connections
WCN
$42B
– –
-387,782
Closed -$30.9M
X
136
PUT
DELISTED
US Steel
X
– –
-173,000
Closed -$5.27M
XLF icon
137
CALL
State Street Financial Select Sector SPDR ETF
XLF
$58.2B
– –
-3,300,000
Closed -$91M
YELP icon
138
Yelp
YELP
$1.41B
– –
-200,000
Closed -$9.84M
YEXT icon
139
Yext
YEXT
$574M
– –
-286,210
Closed -$6.78M
ZG icon
140
PUT
Zillow
ZG
$7.63B
– –
-126,000
Closed -$5.57M
PDCO
141
PUT
DELISTED
Patterson Companies, Inc.
PDCO
– –
-260,000
Closed -$6.36M
LL
142
PUT
DELISTED
LL Flooring Holdings, Inc.
LL
– –
-476,000
Closed -$7.37M
SPLK
143
DELISTED
Splunk Inc
SPLK
– –
-87,303
Closed -$10.6M
VMW
144
CALL
DELISTED
VMware, Inc
VMW
– –
-75,000
Closed -$11.7M
AKRX
145
PUT
DELISTED
Akorn Inc
AKRX
– –
-884,000
Closed -$11.5M
INXN
146
DELISTED
Interxion Holding N.V.
INXN
– –
-6,100
Closed -$411K
ASNA
147
PUT
DELISTED
Ascena Retail Group, Inc.
ASNA
– –
-50,000
Closed -$4.57M
BID
148
DELISTED
Sotheby's
BID
– –
-96,292
Closed -$3.93M
WFT
149
PUT
DELISTED
Weatherford International plc
WFT
– –
-2,519,000
Closed -$6.83M
FDC
150
DELISTED
First Data Corporation
FDC
– –
-984,928
Closed -$24.1M
2 3 4 5
6

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CA
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SCPM
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TVM
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GHI
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LAII
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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.