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SCM
Sandler Capital Management Portfolio holdings
AUM
$193M
1-Year Est. Return
77.14%
This Fund
S&P 500
This Quarter
Est. Return
+4.01%
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
$1.14B
AUM Growth
-$355M
(-24%)
Cap. Flow
-$327M
Cap. Flow
% of AUM
-28.6%
Top 10 Holdings %
Top 10 Hldgs %
27.17%
Holding
164
New
28
Increased
30
Reduced
31
Closed
55
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Abbott
ABT
|
+$10.8M |
| 2 |
TransUnion
TRU
|
+$10.3M |
| 3 |
Mastercard
MA
|
+$9.97M |
| 4 |
Verisk Analytics
VRSK
|
+$8.53M |
| 5 |
Vail Resorts
MTN
|
+$8.29M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
SPDR Gold Trust
GLD
|
+$38.5M |
| 2 |
Blackstone
BX
|
+$25.9M |
| 3 |
Live Nation Entertainment
LYV
|
+$22.2M |
| 4 |
IQVIA
IQV
|
+$17.2M |
| 5 |
Microsoft
MSFT
|
+$15.5M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Healthcare | 9.82% |
| 2 | Industrials | 8.89% |
| 3 | Financials | 6.18% |
| 4 | Technology | 4.34% |
| 5 | Consumer Discretionary | 3.81% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
SIVB
1
PUT
DELISTED
SVB Financial Group
SIVB
| $41.8M | 3.66% |
200,000
+177,500
| +789% | +$37.2M |
|
|
2
Mastercard
MA
$477B
| $41M | 3.59% |
151,145
+36,182
| +31% | +$9.97M |
|
3
PUT
Brighthouse Financial
BHF
$3.63B
| $36.4M | 3.19% |
900,000
+270,000
| +43% | +$10.1M |
|
4
PUT
Chemours
CC
$2.59B
| $31.4M | 2.75% |
2,100,000
+100,000
| +5% | +$1.63M |
|
5
Danaher
DHR
$135B
| $28.3M | 2.48% |
221,183
-12,607
| -5% | -$1.58M |
|
6
PUT
JB Hunt Transport Services
JBHT
$27.1B
| $28.2M | 2.47% |
254,500
-50,000
| -16% | -$5.15M |
|
|
ATH
7
PUT
DELISTED
Athene Holding Ltd. Class A Common Shares
ATH
| $25.2M | 2.21% |
600,000
+194,400
| +48% | +$7.97M |
|
8
PUT
JPMorgan Chase
JPM
$939B
| $24.7M | 2.16% |
+210,000
| New | +$23.8M |
|
|
9
Vail Resorts
MTN
$5.19B
| $23.9M | 2.09% |
104,829
+35,120
| +50% | +$8.29M |
|
|
10
CALL
Live Nation Entertainment
LYV
$41.2B
| $23.2M | 2.03% |
350,000
+200,000
| +133% | +$14M |
|
|
11
Abbott
ABT
$180B
| $22.7M | 1.99% |
271,130
+127,680
| +89% | +$10.8M |
|
|
12
TransUnion
TRU
$14.8B
| $22.6M | 1.98% |
278,713
+128,629
| +86% | +$10.3M |
|
|
BNY
13
PUT
Bank of New York Mellon
BNY
$108B
| $22.6M | 1.98% |
+500,000
| New | +$22.3M |
|
14
Fair Isaac
FICO
$28.7B
| $21M | 1.84% |
69,067
-30,569
| -31% | -$10.4M |
|
15
PUT
Brunswick
BC
$5.19B
| $20.8M | 1.83% |
+400,000
| New | +$19.1M |
|
16
CAE Inc. Common Shares
CAE
$8.1B
| $20.8M | 1.82% |
819,680
+179,246
| +28% | +$4.71M |
|
17
PUT
Unum
UNM
$13.8B
| $20.8M | 1.82% |
+700,000
| New | +$20.8M |
|
|
WDR
18
PUT
DELISTED
Waddell & Reed Financial, Inc.
WDR
| $20.6M | 1.81% |
1,200,000
+374,800
| +45% | +$6.28M |
|
|
PARA
19
PUT
DELISTED
Paramount Global Class B
PARA
| $20.2M | 1.77% |
500,000
+150,000
| +43% | +$7.02M |
|
20
Exponent
EXPO
$2.98B
| $20.2M | 1.77% |
288,396
+31,008
| +12% | +$2.09M |
|
21
PUT
Morgan Stanley
MS
$337B
| $19.2M | 1.68% |
+450,000
| New | +$19.2M |
|
22
PUT
Flowserve
FLS
$9.25B
| $18.7M | 1.64% |
+400,000
| New | +$18.9M |
|
23
iShares S&P Mid-Cap 400 Growth ETF
IJK
$10.8B
| $18.1M | 1.59% |
324,000
+84,000
| +35% | +$4.72M |
|
24
PUT
GE Aerospace
GE
$367B
| $17.9M | 1.57% |
+401,273
| New | +$18.9M |
|
25
CALL
Advanced Micro Devices
AMD
$851B
| $17.4M | 1.52% |
600,000
+300,000
| +100% | +$9.41M |
|
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Sandler Capital Management's Q3 2019 Portfolio in Review
As of Q3 2019, Sandler Capital Management held 164 positions worth $1.14B, down 24% from $1.5B the previous quarter. Its ten largest holdings account for 27% of the portfolio.
Sandler Capital Management withdrew a net $327M in Q3 2019, closing 55 positions and reducing 31 holdings. Its most notable exit was SPDR Gold Trust, an estimated $38.5M position sold in full.
By sector, the portfolio is most concentrated in Healthcare at 9.8% of assets, up from 9.2% a quarter earlier, followed by Industrials and Financials.
Against the trend, Sandler Capital Management opened a new position in Verisk Analytics worth $8.7M.
- Sandler Capital Management's largest Q3 2019 buy was Verisk Analytics: 55,000 shares worth $8.7M.
- Sandler Capital Management added most to Abbott in Q3 2019, an estimated $10.8M increase.
- Sandler Capital Management's biggest Q3 2019 reduction was Microsoft, cutting an estimated $15.5M.
- Sandler Capital Management fully exited SPDR Gold Trust in Q3 2019, selling an estimated $38.5M.
- Sandler Capital Management's ten largest holdings make up 27% of its $1.14B portfolio in Q3 2019.
- Sandler Capital Management opened 28 new positions and closed 55 in Q3 2019.
- Sandler Capital Management's portfolio value fell 24% quarter-over-quarter to $1.14B.
Based on Sandler Capital Management's 13F filing for Q3 2019, filed 14 Nov 2019.