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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
+7.12%
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
$2.39B
AUM Growth
-$456M
Cap. Flow
-$600M
Cap. Flow %
-25.17%
Top 10 Hldgs %
19.49%
Holding
265
New
88
Increased
19
Reduced
61
Closed
79

Top Buys

Rank Stock Value
1
BLK icon
Blackrock
BLK
+$37.2M
2
CL icon
Colgate-Palmolive
CL
+$33.7M
3
LAZ icon
Lazard
LAZ
+$27.9M
4
OCR
OMNICARE INC
OCR
+$25.6M
5
MJN
Mead Johnson Nutrition Company
MJN
+$23.3M

Top Sells

Rank Stock Value
1
KS
KapStone Paper and Pack Corp.
KS
+$57.8M
2
IYT icon
iShares US Transportation ETF
IYT
+$46.5M
3
UNP icon
Union Pacific
UNP
+$38.9M
4
HD icon
Home Depot
HD
+$37.9M
5
EXP icon
Eagle Materials
EXP
+$32M

Sector Composition

Rank Sector Weight
1 Industrials 11.97%
2 Financials 8.21%
3 Healthcare 7.99%
4 Technology 6.77%
5 Consumer Discretionary 4.69%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
LVLT
151
DELISTED
Level 3 Communications Inc
LVLT
$4.56M 0.19%
103,900
-154,300
-60% -$6.47M
SBAC icon
152
SBA Communications
SBAC
$19B
$4.47M 0.19%
43,736
-5,000
-10% -$480K
GM icon
153
General Motors
GM
$76.9B
$4.36M 0.18%
120,000
+20,000
+20% +$697K
CNQR
154
CALL
DELISTED
CONCUR TECHNOLOGIES INC
CNQR
$4.31M 0.18%
+46,200
New +$4.05M
ILMN icon
155
Illumina
ILMN
$29.9B
$4.16M 0.17%
23,930
-108,865
-82% -$16.2M
ACI
156
PUT
DELISTED
ARCH COAL, INC.
ACI
$3.49M 0.15%
95,620
-54,830
-36% -$2.27M
CAVM
157
CALL
DELISTED
Cavium, Inc.
CAVM
$3.26M 0.14%
65,700
-398,300
-86% -$18.3M
CAVM
158
DELISTED
Cavium, Inc.
CAVM
$3.26M 0.14%
+65,700
New +$3.02M
LSTR icon
159
Landstar System
LSTR
$6B
$2.73M 0.11%
42,700
-284,500
-87% -$17.8M
CIM
160
Chimera Investment
CIM
$1.06B
$2.39M 0.1%
50,000
– –
PMT
161
PennyMac Mortgage Investment
PMT
$823M
$2.28M 0.1%
104,000
– –
LNKD
162
DELISTED
LinkedIn Corporation
LNKD
$2.16M 0.09%
+12,600
New +$2.04M
KSU
163
CALL
DELISTED
Kansas City Southern
KSU
$2.11M 0.09%
+19,600
New +$2.02M
USNA icon
164
Usana Health Sciences
USNA
$422M
$1.79M 0.07%
45,728
– –
FMI
165
DELISTED
Foundation Medicine, Inc.
FMI
$1.45M 0.06%
53,700
-192,000
-78% -$4.87M
IHI icon
166
iShares US Medical Devices ETF
IHI
$3.37B
$1.22M 0.05%
72,000
-1,488,000
-95% -$24.3M
HCA icon
167
HCA Healthcare
HCA
$88B
$1.13M 0.05%
+20,000
New +$1.06M
EWI icon
168
iShares MSCI Italy ETF
EWI
$1.05B
$1M 0.04%
+28,825
New +$1.02M
EWP icon
169
iShares MSCI Spain ETF
EWP
$2.14B
$987K 0.04%
+23,050
New +$974K
CCI.PRA
170
DELISTED
Crown Castle International Corp.
CCI.PRA
$917K 0.04%
9,000
– –
TRW
171
DELISTED
TRW AUTOMOTIVE HOLDINGS CORP
TRW
$412K 0.02%
4,600
– –
CHMI
172
Cherry Hill Mortgage Investment Corp
CHMI
$85.2M
$401K 0.02%
20,000
– –
PG icon
173
Procter & Gamble
PG
$338B
$314K 0.01%
4,000
– –
DTYS
174
DELISTED
iPath US Treasury 10-year Bear ETN
DTYS
$293K 0.01%
11,000
– –
T icon
175
AT&T
T
$162B
$248K 0.01%
+9,268
New +$248K
5 6
7
8 9

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EAM
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WWC
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JHA
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TDWM
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AIM
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Sandler Capital Management's Q2 2014 Portfolio in Review

As of Q2 2014, Sandler Capital Management held 265 positions worth $2.39B, down 16% from $2.84B the previous quarter. Its ten largest holdings account for 19% of the portfolio.

Sandler Capital Management withdrew a net $600M in Q2 2014, closing 79 positions and reducing 61 holdings. Its most notable exit was iShares US Transportation ETF, an estimated $46.5M position sold in full.

By sector, the portfolio is most concentrated in Industrials at 12% of assets, down from 20% a quarter earlier, followed by Financials and Healthcare.

Against the trend, Sandler Capital Management opened a new position in Lazard worth $29.2M.

  • Sandler Capital Management's largest Q2 2014 buy was Lazard: 567,100 shares worth $29.2M.
  • Sandler Capital Management added most to Blackrock in Q2 2014, an estimated $37.2M increase.
  • Sandler Capital Management's biggest Q2 2014 reduction was KapStone Paper and Pack Corp., cutting an estimated $57.8M.
  • Sandler Capital Management fully exited iShares US Transportation ETF in Q2 2014, selling an estimated $46.5M.
  • Sandler Capital Management's ten largest holdings make up 19% of its $2.39B portfolio in Q2 2014.
  • Sandler Capital Management opened 88 new positions and closed 79 in Q2 2014.
  • Sandler Capital Management's portfolio value fell 16% quarter-over-quarter to $2.39B.

Based on Sandler Capital Management's 13F filing for Q2 2014, filed 14 Aug 2014.