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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
+14.62%
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
$871M
AUM Growth
-$271M
(-24%)
Cap. Flow
-$340M
Cap. Flow
% of AUM
-39.01%
Top 10 Holdings %
Top 10 Hldgs %
34.55%
Holding
131
New
22
Increased
21
Reduced
24
Closed
62
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Bank of America
BAC
|
+$32.8M |
| 2 |
Meta Platforms (Facebook)
META
|
+$23.5M |
| 3 |
Apple
AAPL
|
+$16M |
| 4 |
KSU
Kansas City Southern
KSU
|
+$15.5M |
| 5 |
Microsoft
MSFT
|
+$14M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Abbott
ABT
|
+$22.7M |
| 2 |
iShares S&P Mid-Cap 400 Growth ETF
IJK
|
+$18.1M |
| 3 |
AvalonBay Communities
AVB
|
+$16.1M |
| 4 |
Repligen
RGEN
|
+$11.1M |
| 5 |
Vulcan Materials
VMC
|
+$8.19M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 14.9% |
| 2 | Industrials | 13.82% |
| 3 | Technology | 13.23% |
| 4 | Healthcare | 9.01% |
| 5 | Communication Services | 4.23% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1
Mastercard
MA
$477B
| $42.8M | 4.91% |
143,393
-7,752
| -5% | -$2.19M |
|
2
PUT
Chemours
CC
$2.59B
| $36M | 4.13% |
1,991,000
-109,000
| -5% | -$1.81M |
|
|
3
Bank of America
BAC
$435B
| $35.7M | 4.1% |
+1,014,561
| New | +$32.8M |
|
4
Danaher
DHR
$135B
| $31.2M | 3.58% |
229,000
+7,817
| +4% | +$988K |
|
|
5
CALL
Danaher
DHR
$135B
| $30.7M | 3.52% |
+225,600
| New | +$28.5M |
|
6
Vail Resorts
MTN
$5.19B
| $27.1M | 3.11% |
112,965
+8,136
| +8% | +$1.93M |
|
7
Fair Isaac
FICO
$28.7B
| $26M | 2.98% |
69,359
+292
| +0.4% | +$98.3K |
|
|
8
Meta Platforms (Facebook)
META
$1.51T
| $24.9M | 2.86% |
+121,228
| New | +$23.5M |
|
9
CAE Inc. Common Shares
CAE
$8.1B
| $24.7M | 2.84% |
934,388
+114,708
| +14% | +$2.95M |
|
|
PARA
10
PUT
DELISTED
Paramount Global Class B
PARA
| $21.9M | 2.52% |
523,000
+23,000
| +5% | +$891K |
|
11
TransUnion
TRU
$14.8B
| $21.8M | 2.5% |
254,158
-24,555
| -9% | -$2.05M |
|
12
PUT
Macy's
M
$6.15B
| $19.8M | 2.27% |
1,164,000
+164,000
| +16% | +$2.57M |
|
|
RDFN
13
PUT
DELISTED
Redfin
RDFN
| $19.2M | 2.21% |
910,000
+110,000
| +14% | +$2.11M |
|
|
ATH
14
PUT
DELISTED
Athene Holding Ltd. Class A Common Shares
ATH
| $18.8M | 2.16% |
400,000
-200,000
| -33% | -$8.69M |
|
15
Clean Harbors
CLH
$16.1B
| $18.7M | 2.15% |
218,370
+1,627
| +0.8% | +$132K |
|
16
PUT
TriNet
TNET
$2.84B
| $18.4M | 2.11% |
+325,000
| New | +$18.1M |
|
|
17
Apple
AAPL
$4.89T
| $18.2M | 2.09% |
+247,980
| New | +$16M |
|
18
PUT
Unum
UNM
$13.8B
| $17.1M | 1.97% |
588,000
-112,000
| -16% | -$3.26M |
|
19
PUT
Caesars Entertainment
CZR
$6.1B
| $16.9M | 1.94% |
283,000
+33,000
| +13% | +$1.63M |
|
20
PUT
Usana Health Sciences
USNA
$394M
| $16.5M | 1.89% |
+210,000
| New | +$15.5M |
|
|
KSU
21
DELISTED
Kansas City Southern
KSU
| $16.2M | 1.86% |
+105,659
| New | +$15.5M |
|
|
X
22
PUT
DELISTED
US Steel
X
| $15.8M | 1.81% |
1,384,000
+884,000
| +177% | +$11M |
|
|
23
Microsoft
MSFT
$2.84T
| $15.5M | 1.78% |
98,100
+95,000
| +3,065% | +$14M |
|
24
PUT
iQIYI
IQ
$1.18B
| $14.5M | 1.66% |
686,000
+86,000
| +14% | +$1.58M |
|
25
Humana
HUM
$46.7B
| $13.7M | 1.57% |
+37,422
| New | +$11.9M |
|
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Sandler Capital Management's Q4 2019 Portfolio in Review
As of Q4 2019, Sandler Capital Management held 131 positions worth $871M, down 24% from $1.14B the previous quarter. Its ten largest holdings account for 35% of the portfolio.
Sandler Capital Management withdrew a net $340M in Q4 2019, closing 62 positions and reducing 24 holdings. Its most notable exit was Abbott, an estimated $22.7M position sold in full.
By sector, the portfolio is most concentrated in Financials at 15% of assets, up from 6.2% a quarter earlier, followed by Industrials and Technology.
Against the trend, Sandler Capital Management opened a new position in Bank of America worth $35.7M.
- Sandler Capital Management's largest Q4 2019 buy was Bank of America: 1,014,561 shares worth $35.7M.
- Sandler Capital Management added most to Microsoft in Q4 2019, an estimated $14M increase.
- Sandler Capital Management's biggest Q4 2019 reduction was Repligen, cutting an estimated $11.1M.
- Sandler Capital Management fully exited Abbott in Q4 2019, selling an estimated $22.7M.
- Sandler Capital Management's ten largest holdings make up 35% of its $871M portfolio in Q4 2019.
- Sandler Capital Management opened 22 new positions and closed 62 in Q4 2019.
- Sandler Capital Management's portfolio value fell 24% quarter-over-quarter to $871M.
Based on Sandler Capital Management's 13F filing for Q4 2019, filed 14 Feb 2020.