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SCM
Sandler Capital Management Portfolio holdings
AUM
$201M
Turnover
60.23%
1-Year Est. Return
84.92%
This Fund
S&P 500
This Quarter
Est. Return
+5.95%
1 Year Est. Return
+84.92%
3 Year Est. Return
+325.44%
5 Year Est. Return
+552.1%
10 Year Est. Return
+6,288.22%
AUM
$922M
AUM Growth
-$534M
(-37%)
Cap. Flow
-$350M
Cap. Flow
% of AUM
-37.95%
Top 10 Holdings %
Top 10 Hldgs %
30.17%
Holding
220
New
48
Increased
37
Reduced
41
Closed
86
Avg Time Held Equity + Options
0.4
years
Top 10 Avg Time Held Equity + Options
0.2
years
Top 20 Avg Time Held Equity + Options
0.2
years
Avg Time Held Equity only
0.5
years
Top 10 Avg Time Held Equity only
0.3
years
Top 20 Avg Time Held Equity only
0.3
years
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Visa
V
|
+$27M |
| 2 |
Blackrock
BLK
|
+$19.9M |
| 3 |
MSCC
Microsemi Corp
MSCC
|
+$11.5M |
| 4 |
Service Corp International
SCI
|
+$8.49M |
| 5 |
Repligen
RGEN
|
+$8.4M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
iShares US Home Construction ETF
ITB
|
+$14.1M |
| 2 |
Keurig Dr Pepper
KDP
|
+$13M |
| 3 |
Meta Platforms (Facebook)
META
|
+$12.6M |
| 4 |
Walt Disney
DIS
|
+$12.5M |
| 5 |
Vail Resorts
MTN
|
+$12.3M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Miscellaneous | 32.04% |
| 2 | Industrials | 16.51% |
| 3 | Financials | 13.23% |
| 4 | Technology | 12.8% |
| 5 | Healthcare | 6.93% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
|
1
Visa
V
$753B
| $50.9M | 5.52% |
542,837
+291,180
| +116% | +$27M |
2015 Q4
6 quarters
|
|
2
CALL
Alibaba
BABA
$274B
| $41.6M | 4.51% |
295,000
+195,000
| +195% | +$24.1M |
2017 Q1
1 quarter
|
|
|
MSCC
3
DELISTED
Microsemi Corp
MSCC
| $33.6M | 3.65% |
718,856
+234,481
| +48% | +$11.5M |
2016 Q1
5 quarters
|
|
4
PUT
Jabil
JBL
$29.8B
| $29.2M | 3.17% |
+1,000,000
| New | +$29.4M |
2017 Q2
0 quarters
|
|
|
5
Service Corp International
SCI
$11.1B
| $26.4M | 2.87% |
790,160
+266,460
| +51% | +$8.49M |
2016 Q4
2 quarters
|
|
6
Entegris
ENTG
$22.5B
| $23.9M | 2.59% |
1,086,680
+66,410
| +7% | +$1.6M |
2017 Q1
1 quarter
|
|
|
7
Blackrock
BLK
$173B
| $21.1M | 2.29% |
+49,860
| New | +$19.9M |
2017 Q2
0 quarters
|
|
|
RTN
8
DELISTED
Raytheon Company
RTN
| $20.1M | 2.18% |
124,246
-1,010
| -0.8% | -$160K |
2015 Q4
6 quarters
|
|
|
RTN
9
CALL
DELISTED
Raytheon Company
RTN
| $16.1M | 1.75% |
+100,000
| New | +$15.8M |
2017 Q2
0 quarters
|
|
10
PUT
Edgewell Personal Care
EPC
$1.29B
| $15.2M | 1.65% |
+200,000
| New | +$14.7M |
2017 Q2
0 quarters
|
|
11
PUT
Nike
NKE
$55.9B
| $14.8M | 1.6% |
+250,000
| New | +$13.5M |
2017 Q2
0 quarters
|
|
12
Watsco Inc
WSO
$12.4B
| $14.2M | 1.54% |
92,250
-42,814
| -32% | -$6.12M |
2016 Q4
2 quarters
|
|
13
PTC
PTC
$21B
| $14M | 1.52% |
253,631
-45,570
| -15% | -$2.51M |
2016 Q4
2 quarters
|
|
14
Cohen & Steers
CNS
$3.48B
| $13.7M | 1.49% |
337,576
+52,610
| +18% | +$2.1M |
2016 Q3
3 quarters
|
|
15
CALL
PayPal
PYPL
$48.6B
| $13.4M | 1.46% |
+250,000
| New | +$12.3M |
2017 Q2
0 quarters
|
|
16
Lockheed Martin
LMT
$122B
| $12.6M | 1.36% |
45,255
+15,005
| +50% | +$4.12M |
2017 Q1
1 quarter
|
|
17
Northrop Grumman
NOC
$70.7B
| $12.1M | 1.31% |
47,160
+4,840
| +11% | +$1.21M |
2017 Q1
1 quarter
|
|
18
Williams Companies
WMB
$85.7B
| $11.5M | 1.25% |
381,120
+131,120
| +52% | +$3.91M |
2017 Q1
1 quarter
|
|
19
CALL
Steel Dynamics
STLD
$34.4B
| $10.7M | 1.17% |
+300,000
| New | +$10.4M |
2017 Q2
0 quarters
|
|
|
SYNT
20
PUT
DELISTED
Syntel Inc
SYNT
| $10.5M | 1.14% |
617,900
+13,000
| +2% | +$226K |
2017 Q1
1 quarter
|
|
21
DELISTED
Summit Materials, Inc. Class A Common Stock
SUM
| $10.1M | 1.09% |
359,414
-126,348
| -26% | -$3.29M |
2016 Q4
2 quarters
|
|
|
JCP
22
PUT
DELISTED
J.C. Penney Company, Inc.
JCP
| $9.84M | 1.07% |
+2,117,000
| New | +$10.8M |
2017 Q2
0 quarters
|
|
23
Sherwin-Williams
SHW
$81.9B
| $9.7M | 1.05% |
82,950
+16,680
| +25% | +$1.86M |
2017 Q1
1 quarter
|
|
24
PUT
Altria Group
MO
$123B
| $9.68M | 1.05% |
+130,000
| New | +$9.51M |
2017 Q2
0 quarters
|
|
|
CY
25
CALL
DELISTED
Cypress Semiconductor
CY
| $9.55M | 1.04% |
+700,000
| New | +$9.53M |
2017 Q2
0 quarters
|
|
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Sandler Capital Management's Q2 2017 Portfolio in Review
As of Q2 2017, Sandler Capital Management held 220 positions worth $922M, down 37% from $1.46B the previous quarter. Its ten largest holdings account for 30% of the portfolio.
Sandler Capital Management withdrew a net $350M in Q2 2017, closing 86 positions and reducing 41 holdings. Its most notable exit was iShares US Home Construction ETF, an estimated $14.1M position sold in full.
By sector, the portfolio is most concentrated in Miscellaneous at 32% of assets, down from 40% a quarter earlier, followed by Industrials and Financials.
Against the trend, Sandler Capital Management opened a new position in Blackrock worth $21.1M.
- Sandler Capital Management's largest Q2 2017 buy was Blackrock: 49,860 shares worth $21.1M.
- Sandler Capital Management added most to Visa in Q2 2017, an estimated $27M increase.
- Sandler Capital Management's biggest Q2 2017 reduction was Stanley Black & Decker, cutting an estimated $12.1M.
- Sandler Capital Management fully exited iShares US Home Construction ETF in Q2 2017, selling an estimated $14.1M.
- Sandler Capital Management's ten largest holdings make up 30% of its $922M portfolio in Q2 2017.
- Sandler Capital Management opened 48 new positions and closed 86 in Q2 2017.
- Sandler Capital Management's portfolio value fell 37% quarter-over-quarter to $922M.
Based on Sandler Capital Management's 13F filing for Q2 2017, filed 14 Aug 2017.