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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
ZS icon
201
Zscaler
ZS
$27.3B
– –
-6,061
Closed -$1.82M
5 6 7 8
9

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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 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.