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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
NOC icon
126
Northrop Grumman
NOC
$81.2B
$687K 0.23%
1,205
-2,065
-63% -$1.2M
CCCX
127
DELISTED
Churchill Capital Corp X
CCCX
$679K 0.22%
43,500
-54,000
-55% -$908K
GOGO icon
128
PUT
Gogo Inc
GOGO
$493M
$678K 0.22%
145,400
-773,800
-84% -$5.67M
HUBB icon
129
Hubbell
HUBB
$27.2B
$675K 0.22%
1,521
-1,289
-46% -$565K
CRCL
130
PUT
Circle Internet Group
CRCL
$16.9B
$674K 0.22%
+8,500
New +$878K
XLV icon
131
State Street Health Care Select Sector SPDR ETF
XLV
$43.3B
$640K 0.21%
+4,134
New +$619K
UEC icon
132
Uranium Energy
UEC
$5.57B
$584K 0.19%
49,980
-27,683
-36% -$363K
SHW icon
133
Sherwin-Williams
SHW
$89.8B
$584K 0.19%
1,801
-1,094
-38% -$366K
QBTS icon
134
D-Wave Quantum Inc. Common Stock
QBTS
$7.73B
$523K 0.17%
+20,000
New +$583K
AMRZ
135
Amrize Ltd
AMRZ
$25.8B
$514K 0.17%
+9,500
New +$485K
NFLX icon
136
Netflix
NFLX
$309B
$489K 0.16%
5,220
-17,070
-77% -$1.84M
HRB icon
137
PUT
H&R Block
HRB
$5.86B
$427K 0.14%
+9,800
New +$458K
MDB icon
138
MongoDB
MDB
$32.1B
$407K 0.13%
+969
New +$353K
MU icon
139
Micron Technology
MU
$991B
$400K 0.13%
+1,400
New +$321K
MIR icon
140
Mirion Technologies
MIR
$3.91B
$356K 0.12%
15,194
-61,332
-80% -$1.53M
CRDO icon
141
Credo Technology Group
CRDO
$46.6B
$326K 0.11%
2,267
-3,429
-60% -$527K
ACM icon
142
Aecom
ACM
$9.75B
– –
-9,652
Closed -$1.26M
AEIS icon
143
Advanced Energy
AEIS
$13B
– –
-3,227
Closed -$549K
AIT icon
144
Applied Industrial Technologies
AIT
$13.3B
– –
-4,099
Closed -$1.07M
AROC icon
145
Archrock
AROC
$5.8B
– –
-61,164
Closed -$1.61M
AVGO icon
146
Broadcom
AVGO
$2.04T
– –
-6,474
Closed -$2.14M
BABA icon
147
Alibaba
BABA
$308B
– –
-6,136
Closed -$1.1M
BSX icon
148
Boston Scientific
BSX
$71.5B
– –
-18,004
Closed -$1.76M
BX icon
149
Blackstone
BX
$110B
– –
-21,063
Closed -$3.6M
CELH icon
150
Celsius Holdings
CELH
$7.03B
– –
-16,591
Closed -$954K
4 5
6
7 8

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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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IA
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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.