Sandler Capital Management 13F holdings, Q4 2025
Holdings as of December 31, 2025 · filings on SEC EDGAR · latest filing →
Sandler Capital Management disclosed 108 US equity positions worth $222.2m in its Q4 2025 13F filing. The largest position was KEYS at 4.5% of the reported book, followed by GLW and TKO. Against the Q3 2025 filing, it opened 11 new positions, added to 21 and reduced 18 among the top 50 holdings.
What did Sandler Capital Management own in Q4 2025? Top 50 positions
| # | Stock | Sector | Weight | Value | Shares | Δ shares | vs Q3 2025 |
|---|---|---|---|---|---|---|---|
| 1 | KEYS KEYSIGHT TECHNOLOGIES INC | Technology | 4.5% | $10.1m | 49,571 | 38% | added |
| 2 | GLW CORNING INC | Technology | 4.5% | $9.9m | 113,038 | -33% | reduced |
| 3 | TKO TKO GROUP HOLDINGS INC | Communication Services | 4.3% | $9.5m | 45,478 | -26% | reduced |
| 4 | PLD PROLOGIS INC. | Real Estate | 2.6% | $5.9m | 45,863 | 67% | added |
| 5 | RTX RTX CORPORATION | Industrials | 2.5% | $5.6m | 30,600 | 4% | added |
| 6 | TSM TAIWAN SEMICONDUCTOR MFG LTD | Technology | 2.4% | $5.4m | 17,737 | 9% | added |
| 7 | HO1 HOLOGIC INC | 2.3% | $5.1m | 68,864 | -17% | reduced | |
| 8 | MSGS MADISON SQUARE GRDN SPRT COR | Communication Services | 2.3% | $5.1m | 19,786 | 33% | added |
| 9 | GOOG ALPHABET INC | Communication Services | 2.0% | $4.4m | 13,948 | 145% | added |
| 10 | EGP EASTGROUP PPTYS INC | Real Estate | 1.9% | $4.3m | 24,175 | 36% | added |
| 11 | APH AMPHENOL CORP NEW | Technology | 1.8% | $4.1m | 30,071 | -18% | reduced |
| 12 | TEL TE CONNECTIVITY PLC | Technology | 1.7% | $3.8m | 16,737 | – | new |
| 13 | LLYVK LIBERTY MEDIA CORP DEL | 1.5% | $3.4m | 34,036 | 163% | added | |
| 14 | CCJ CAMECO CORP | Energy | 1.5% | $3.3m | 36,185 | 12% | added |
| 15 | DHR DANAHER CORPORATION | Healthcare | 1.5% | $3.3m | 14,300 | 174% | added |
| 16 | MSGE MADISON SQUARE GARDEN ENTMT | Communication Services | 1.4% | $3.2m | 59,748 | 104% | added |
| 17 | HONGBP HONEYWELL INTL INC | 1.4% | $3.1m | 15,650 | – | new | |
| 18 | AMZN AMAZON COM INC | Consumer Cyclical | 1.3% | $3.0m | 12,838 | -13% | reduced |
| 19 | MRK MERCK & CO INC | Healthcare | 1.3% | $2.9m | 27,900 | – | new |
| 20 | SPHR SPHERE ENTERTAINMENT CO | Communication Services | 1.3% | $2.9m | 30,377 | -32% | reduced |
| 21 | DY DYCOM INDS INC | Industrials | 1.3% | $2.8m | 8,405 | -25% | reduced |
| 22 | BHP BHP GROUP LTD | Basic Materials | 1.3% | $2.8m | 46,732 | -18% | reduced |
| 23 | CRH CRH PLC | Basic Materials | 1.2% | $2.7m | 21,246 | -10% | reduced |
| 24 | FOR FORESTAR GROUP INC | Real Estate | 1.2% | $2.6m | 105,354 | 112% | added |
| 25 | AVY AVERY DENNISON CORP | Consumer Cyclical | 1.2% | $2.6m | 14,200 | – | new |
| 26 | BAC BANK AMERICA CORP | Financial Services | 1.2% | $2.6m | 46,664 | – | new |
| 27 | RL RALPH LAUREN CORP | Consumer Cyclical | 1.1% | $2.5m | 7,006 | – | new |
| 28 | TDY TELEDYNE TECHNOLOGIES INC | Technology | 1.1% | $2.5m | 4,848 | -9% | reduced |
| 29 | A AGILENT TECHNOLOGIES INC | Healthcare | 1.1% | $2.5m | 18,113 | -16% | reduced |
| 30 | TRMB TRIMBLE INC | Technology | 1.1% | $2.5m | 31,350 | -21% | reduced |
| 31 | CBOE CBOE GLOBAL MKTS INC | Financial Services | 1.1% | $2.4m | 9,630 | -30% | reduced |
| 32 | MLM MARTIN MARIETTA MATLS INC | Basic Materials | 1.1% | $2.4m | 3,799 | -18% | reduced |
| 33 | HNGE HINGE HEALTH INC | Healthcare | 1.0% | $2.3m | 50,179 | -5% | reduced |
| 34 | XRT SPDR SERIES TRUST | 1.0% | $2.3m | 27,300 | – | new | |
| 35 | LLY ELI LILLY & CO | Healthcare | 1.0% | $2.3m | 2,152 | 11% | added |
| 36 | TLN TALEN ENERGY CORP | Utilities | 1.0% | $2.2m | 5,928 | 18% | added |
| 37 | ULTA ULTA BEAUTY INC | Consumer Cyclical | 1.0% | $2.2m | 3,633 | 117% | added |
| 38 | LYV LIVE NATION ENTERTAINMENT IN | Communication Services | 1.0% | $2.2m | 15,109 | 93% | added |
| 39 | CBRE CBRE GROUP INC | Real Estate | 1.0% | $2.1m | 13,193 | -20% | reduced |
| 40 | LHX L3HARRIS TECHNOLOGIES INC | Industrials | 1.0% | $2.1m | 7,217 | 98% | added |
| 41 | AAPL APPLE INC | Technology | 0.9% | $2.1m | 7,554 | -56% | reduced |
| 42 | SXT SENSIENT TECHNOLOGIES CORP | Basic Materials | 0.9% | $2.0m | 21,521 | 109% | added |
| 43 | BLK BLACKROCK INC | Financial Services | 0.9% | $1.9m | 1,800 | – | new |
| 44 | SBUX STARBUCKS CORP | Consumer Cyclical | 0.8% | $1.9m | 22,200 | – | new |
| 45 | SHOO MADDEN STEVEN LTD | Consumer Cyclical | 0.8% | $1.9m | 44,599 | – | new |
| 46 | QDEL QUIDELORTHO CORP | Healthcare | 0.8% | $1.8m | 64,313 | – | new |
| 47 | STLD STEEL DYNAMICS INC | Basic Materials | 0.8% | $1.8m | 10,790 | 85% | added |
| 48 | AXON AXON ENTERPRISE INC | Industrials | 0.7% | $1.7m | 2,930 | 14% | added |
| 49 | VMI VALMONT INDS INC | Industrials | 0.7% | $1.6m | 4,047 | -55% | reduced |
| 50 | GD GENERAL DYNAMICS CORP | Industrials | 0.7% | $1.6m | 4,830 | 222% | added |
Weights are shares of the reported long US equity book (options excluded). Values are as filed, normalised to whole dollars. Share changes compare against the immediately preceding filing only.