SANDLER CAPITAL MANAGEMENT

All Holdings — 2025 Q4

AI Portfolio Summary
In 2025 Q4, SANDLER CAPITAL MANAGEMENT maintained a portfolio of 201 distinct positions. The most significant new addition to the portfolio was TAIWAN SEMICONDUCTOR, which now represents 2.49% of the total fund value. They heavily accumulated shares in KEYSIGHT TECHNOLOGIE, increasing their position by 37.8%. Conversely, SANDLER CAPITAL MANAGEMENT completely exited their position in ROKU INC.
PCA Score Concentration Risk
Risk ENB
Total Positions
201
Quarter
2025 Q4
Top Holding
KEYS (3.3%)
Top 10 Concentration
23.2%
Turnover Rate
23.4%
Sector HHI
0.18
Items per page:
1-25 of 201
Stock History Sector / Type Port % Prev % Rank / Prev Conviction Change % Change Influence Shares Mkt Value Avg Cost Price Held 1st Owned Source Source Date Date Reported
KEYS
KEYSIGHT TECHNO...
Technology 3.30% 1.85% #1 5
Prev: #6
3.4 13,609 37.8%
P
S
49,571 $10,072,331 2018 Q3 13F Filing 2025-12-31 2026-02-14 (Est.)
GLW
CORNING INC
Technology 3.24% 4.04% #2 1
Prev: #1
1.4 -54,583 -32.6%
P
S
113,038 $9,897,607 2003 Q3 13F Filing 2025-12-31 2026-02-14 (Est.)
TKO
TKO GROUP HOLDI...
Communication Services 3.11% 3.63% #3 1
Prev: #2
1.3 -15,698 -25.7%
P
S
45,478 $9,504,902 2023 Q3 13F Filing 2025-12-31 2026-02-14 (Est.)
TSM
TAIWAN SEMICOND...
PUT
PUT Option 2.49% #4
Prev: #—
3.0 25,000 no change
NEW
25,000 $7,597,250 2001 Q4 13F Filing 2025-12-31 2026-02-14 (Est.)
GLW
CORNING INC
PUT
PUT Option 2.15% #5
Prev: #—
2.9 75,000 no change
NEW
75,000 $6,567,000 2003 Q3 13F Filing 2025-12-31 2026-02-14 (Est.)
PLD
PROLOGIS INC.
Real Estate 1.92% 0.92% #6 24
Prev: #30
3.0 18,474 67.5%
P
S
45,863 $5,854,871 2020 Q3 13F Filing 2025-12-31 2026-02-14 (Est.)
RTX
RTX CORPORATION
Industrials 1.84% 1.45% #7 3
Prev: #10
2.7 1,186 4.0%
P
S
30,600 $5,612,040 2023 Q2 13F Filing 2025-12-31 2026-02-14 (Est.)
TSM
TAIWAN SEMICOND...
Technology 1.77% 1.34% #8 3
Prev: #11
2.7 1,405 8.6%
P
S
17,737 $5,390,097 2001 Q4 13F Filing 2025-12-31 2026-02-14 (Est.)
C
CITIGROUP INC
PUT
PUT Option 1.72% #9
Prev: #—
2.7 45,000 no change
NEW
45,000 $5,251,050 2002 Q4 13F Filing 2025-12-31 2026-02-14 (Est.)
HOLX
HOLOGIC INC
Healthcare 1.68% 1.64% #10 2
Prev: #8
0.7 -13,774 -16.7%
P
S
68,864 $5,129,679 2015 Q3 13F Filing 2025-12-31 2026-02-14 (Est.)
MSGS
MADISON SQUARE ...
Communication Services 1.68% 0.99% #11 13
Prev: #24
2.8 4,898 32.9%
P
S
19,786 $5,117,649 2025 Q2 13F Filing 2025-12-31 2026-02-14 (Est.)
AVY
AVERY DENNISON ...
CALL
CALL Option 1.44% #12
Prev: #—
2.6 24,200 no change
NEW
24,200 $4,401,496 2004 Q3 13F Filing 2025-12-31 2026-02-14 (Est.)
GOOG
ALPHABET INC
Communication Services 1.43% 0.41% #13 78
Prev: #91
2.9 8,249 144.7%
P
S
13,948 $4,376,882 2004 Q4 13F Filing 2025-12-31 2026-02-14 (Est.)
EGP
EASTGROUP PPTYS...
Real Estate 1.41% 0.89% #14 19
Prev: #33
2.7 6,359 35.7%
P
S
24,175 $4,306,535 2020 Q4 13F Filing 2025-12-31 2026-02-14 (Est.)
AAPL
APPLE INC
CALL
CALL Option 1.34% #15
Prev: #—
2.5 15,000 no change
NEW
15,000 $4,077,900 2002 Q1 13F Filing 2025-12-31 2026-02-14 (Est.)
APH
AMPHENOL CORP N...
Technology 1.33% 1.33% #16 4
Prev: #12
0.6 -6,437 -17.6%
P
S
30,071 $4,063,795 2025 Q3 13F Filing 2025-12-31 2026-02-14 (Est.)
TEL
TE CONNECTIVITY...
Technology 1.25% #17
Prev: #—
2.5 16,737 no change
NEW
16,737 $3,807,835 2025 Q4 13F Filing 2025-12-31 2026-02-14 (Est.)
LYV
LIVE NATION ENT...
PUT
PUT Option 1.24% #18
Prev: #—
2.5 26,500 no change
NEW
26,500 $3,776,250 2010 Q1 13F Filing 2025-12-31 2026-02-14 (Est.)
NVDA
NVIDIA CORPORAT...
CALL
CALL Option 1.22% #19
Prev: #—
2.5 20,000 no change
NEW
20,000 $3,730,000 2004 Q4 13F Filing 2025-12-31 2026-02-14 (Est.)
MS
MORGAN STANLEY
PUT
PUT Option 1.13% #20
Prev: #—
2.5 19,400 no change
NEW
19,400 $3,444,082 2009 Q3 13F Filing 2025-12-31 2026-02-14 (Est.)
COIN
COINBASE GLOBAL...
PUT
PUT Option 1.11% #21
Prev: #—
2.4 15,000 no change
NEW
15,000 $3,392,100 2021 Q2 13F Filing 2025-12-31 2026-02-14 (Est.)
FWONK
LIBERTY MEDIA C...
Communication Services 1.10% 0.40% #22 71
Prev: #93
2.7 21,070 162.5%
P
S
34,036 $3,352,886 2023 Q3 13F Filing 2025-12-31 2026-02-14 (Est.)
CCJ
CAMECO CORP
Energy 1.08% 0.80% #23 20
Prev: #43
2.5 3,806 11.8%
P
S
36,185 $3,310,566 2005 Q2 13F Filing 2025-12-31 2026-02-14 (Est.)
DHR
DANAHER CORPORA...
Healthcare 1.07% 0.30% #24 94
Prev: #118
2.7 9,080 173.9%
P
S
14,300 $3,273,556 2013 Q2 13F Filing 2025-12-31 2026-02-14 (Est.)
MSGE
MADISON SQUARE ...
Consumer Cyclical 1.05% 0.39% #25 70
Prev: #95
2.7 30,468 104.1%
P
S
59,748 $3,219,820 2025 Q2 13F Filing 2025-12-31 2026-02-14 (Est.)
ROKU
ROKU INC
PUT
PUT Option 0.00% 2.94%
Sold All 😨
(Was: #4)
0.3 -100,000 -100.0%
CLOSED
$— 2024 Q1 13F Filing 2025-12-31 2026-02-14 (Est.)
GOOG
ALPHABET INC
CALL
CALL Option 0.00% 1.78%
Sold All 😨
(Was: #7)
0.3 -24,900 -100.0%
CLOSED
$— 2004 Q4 13F Filing 2025-12-31 2026-02-14 (Est.)
LITE
LUMENTUM HLDGS ...
Technology 0.00% 1.62%
Sold All 😨
(Was: #9)
0.3 -33,994 -100.0%
CLOSED
$— 2024 Q4 13F Filing 2025-12-31 2026-02-14 (Est.)
TSLA
TESLA INC
PUT
PUT Option 0.00% 1.27%
Sold All 😨
(Was: #14)
0.3 -9,700 -100.0%
CLOSED
$— 2013 Q2 13F Filing 2025-12-31 2026-02-14 (Est.)
G
GENPACT LIMITED
PUT
PUT Option 0.00% 1.21%
Sold All 😨
(Was: #15)
0.3 -98,200 -100.0%
CLOSED
$— 2025 Q3 13F Filing 2025-12-31 2026-02-14 (Est.)
TJX
TJX COS INC NEW
Consumer Cyclical 0.00% 1.16%
Sold All 😨
(Was: #16)
0.3 -27,325 -100.0%
CLOSED
$— 2002 Q2 13F Filing 2025-12-31 2026-02-14 (Est.)
CLH
CLEAN HARBORS I...
Industrials 0.00% 1.13%
Sold All 😨
(Was: #17)
0.3 -16,540 -100.0%
CLOSED
$— 2006 Q1 13F Filing 2025-12-31 2026-02-14 (Est.)
BX
BLACKSTONE INC
Financial Services 0.00% 1.06%
Sold All 😨
(Was: #19)
0.3 -21,063 -100.0%
CLOSED
$— 2013 Q4 13F Filing 2025-12-31 2026-02-14 (Est.)
OKTA
OKTA INC
CALL
CALL Option 0.00% 1.05%
Sold All 😨
(Was: #20)
0.3 -39,000 -100.0%
CLOSED
$— 2018 Q2 13F Filing 2025-12-31 2026-02-14 (Est.)
SPOT
SPOTIFY TECHNOL...
Communication Services 0.00% 0.90%
Sold All 😨
(Was: #32)
0.3 -4,407 -100.0%
CLOSED
$— 2024 Q4 13F Filing 2025-12-31 2026-02-14 (Est.)
GM
GENERAL MTRS CO
CALL
CALL Option 0.00% 0.88%
Sold All 😨
(Was: #35)
0.3 -49,000 -100.0%
CLOSED
$— 2001 Q1 13F Filing 2025-12-31 2026-02-14 (Est.)
GVA
GRANITE CONSTR ...
Industrials 0.00% 0.86%
Sold All 😨
(Was: #36)
0.3 -26,750 -100.0%
CLOSED
$— 2024 Q3 13F Filing 2025-12-31 2026-02-14 (Est.)
GLD
SPDR GOLD TR
ETF 0.00% 0.80%
Sold All 😨
(Was: #42)
0.3 -7,700 -100.0%
CLOSED
$— 2008 Q4 13F Filing 2025-12-31 2026-02-14 (Est.)
EBAY
EBAY INC.
CALL
CALL Option 0.00% 0.78%
Sold All 😨
(Was: #47)
0.3 -29,300 -100.0%
CLOSED
$— 2001 Q2 13F Filing 2025-12-31 2026-02-14 (Est.)
GDX
VANECK ETF TRUS...
ETF 0.00% 0.76%
Sold All 😨
(Was: #51)
0.3 -33,700 -100.0%
CLOSED
$— 2025 Q3 13F Filing 2025-12-31 2026-02-14 (Est.)
SLV
ISHARES SILVER ...
ETF 0.00% 0.73%
Sold All 😨
(Was: #53)
0.3 -59,000 -100.0%
CLOSED
$— 2010 Q2 13F Filing 2025-12-31 2026-02-14 (Est.)
HD
HOME DEPOT INC
Consumer Cyclical 0.00% 0.73%
Sold All 😨
(Was: #54)
0.3 -6,104 -100.0%
CLOSED
$— 2005 Q2 13F Filing 2025-12-31 2026-02-14 (Est.)
DHI
D R HORTON INC
CALL
CALL Option 0.00% 0.67%
Sold All 😨
(Was: #56)
0.3 -13,400 -100.0%
CLOSED
$— 2019 Q1 13F Filing 2025-12-31 2026-02-14 (Est.)
VRT
VERTIV HOLDINGS...
Industrials 0.00% 0.66%
Sold All 😨
(Was: #57)
0.3 -14,831 -100.0%
CLOSED
$— 2023 Q2 13F Filing 2025-12-31 2026-02-14 (Est.)
CORZ
CORE SCIENTIFIC...
CALL
CALL Option 0.00% 0.65%
Sold All 😨
(Was: #58)
0.3 -123,400 -100.0%
CLOSED
$— 2025 Q2 13F Filing 2025-12-31 2026-02-14 (Est.)
TECH
BIO-TECHNE CORP
CALL
CALL Option 0.00% 0.65%
Sold All 😨
(Was: #60)
0.3 -39,500 -100.0%
CLOSED
$— 2016 Q2 13F Filing 2025-12-31 2026-02-14 (Est.)
AVGO
BROADCOM INC
Technology 0.00% 0.63%
Sold All 😨
(Was: #61)
0.3 -6,474 -100.0%
CLOSED
$— 2022 Q1 13F Filing 2025-12-31 2026-02-14 (Est.)
NKE
NIKE INC
PUT
PUT Option 0.00% 0.61%
Sold All 😨
(Was: #63)
0.3 -29,600 -100.0%
CLOSED
$— 2001 Q4 13F Filing 2025-12-31 2026-02-14 (Est.)
FERG
FERGUSON ENTERP...
Industrials 0.00% 0.58%
Sold All 😨
(Was: #66)
0.3 -8,844 -100.0%
CLOSED
$— 2025 Q3 13F Filing 2025-12-31 2026-02-14 (Est.)
GRPN
GROUPON INC
Communication Services 0.00% 0.58%
Sold All 😨
(Was: #67)
0.3 -84,986 -100.0%
CLOSED
$— 2013 Q3 13F Filing 2025-12-31 2026-02-14 (Est.)
PH
PARKER-HANNIFIN...
Industrials 0.00% 0.56%
Sold All 😨
(Was: #69)
0.3 -2,533 -100.0%
CLOSED
$— 2009 Q4 13F Filing 2025-12-31 2026-02-14 (Est.)
ZS
ZSCALER INC
Technology 0.00% 0.53%
Sold All 😨
(Was: #72)
0.3 -6,061 -100.0%
CLOSED
$— 2018 Q2 13F Filing 2025-12-31 2026-02-14 (Est.)
BSX
BOSTON SCIENTIF...
Healthcare 0.00% 0.52%
Sold All 😨
(Was: #76)
0.3 -18,004 -100.0%
CLOSED
$— 2007 Q1 13F Filing 2025-12-31 2026-02-14 (Est.)
PAAS
PAN AMERN SILVE...
Basic Materials 0.00% 0.50%
Sold All 😨
(Was: #77)
0.3 -43,681 -100.0%
CLOSED
$— 2010 Q3 13F Filing 2025-12-31 2026-02-14 (Est.)
AROC
ARCHROCK INC
Energy 0.00% 0.47%
Sold All 😨
(Was: #78)
0.3 -61,164 -100.0%
CLOSED
$— 2025 Q1 13F Filing 2025-12-31 2026-02-14 (Est.)
TXT
TEXTRON INC
Industrials 0.00% 0.47%
Sold All 😨
(Was: #79)
0.3 -18,900 -100.0%
CLOSED
$— 2007 Q2 13F Filing 2025-12-31 2026-02-14 (Est.)
RGEN
REPLIGEN CORP
Healthcare 0.00% 0.44%
Sold All 😨
(Was: #81)
0.3 -11,304 -100.0%
CLOSED
$— 2017 Q2 13F Filing 2025-12-31 2026-02-14 (Est.)
LNG
CHENIERE ENERGY...
Energy 0.00% 0.43%
Sold All 😨
(Was: #85)
0.3 -6,221 -100.0%
CLOSED
$— 2017 Q1 13F Filing 2025-12-31 2026-02-14 (Est.)
ELF
E L F BEAUTY IN...
Consumer Defensive 0.00% 0.43%
Sold All 😨
(Was: #86)
0.3 -11,014 -100.0%
CLOSED
$— 2016 Q3 13F Filing 2025-12-31 2026-02-14 (Est.)
EVR
EVERCORE INC
Financial Services 0.00% 0.41%
Sold All 😨
(Was: #92)
0.3 -4,088 -100.0%
CLOSED
$— 2015 Q2 13F Filing 2025-12-31 2026-02-14 (Est.)
TOL
TOLL BROTHERS I...
CALL
CALL Option 0.00% 0.39%
Sold All 😨
(Was: #94)
0.3 -9,700 -100.0%
CLOSED
$— 2003 Q4 13F Filing 2025-12-31 2026-02-14 (Est.)
URI
UNITED RENTALS ...
Industrials 0.00% 0.39%
Sold All 😨
(Was: #97)
0.3 -1,381 -100.0%
CLOSED
$— 2013 Q2 13F Filing 2025-12-31 2026-02-14 (Est.)
GNRC
GENERAC HLDGS I...
Industrials 0.00% 0.37%
Sold All 😨
(Was: #100)
0.3 -7,583 -100.0%
CLOSED
$— 2013 Q2 13F Filing 2025-12-31 2026-02-14 (Est.)
ACM
AECOM
Industrials 0.00% 0.37%
Sold All 😨
(Was: #101)
0.3 -9,652 -100.0%
CLOSED
$— 2008 Q3 13F Filing 2025-12-31 2026-02-14 (Est.)
LMT
LOCKHEED MARTIN...
Industrials 0.00% 0.35%
Sold All 😨
(Was: #105)
0.3 -2,394 -100.0%
CLOSED
$— 2001 Q4 13F Filing 2025-12-31 2026-02-14 (Est.)
GE
GE AEROSPACE
Industrials 0.00% 0.34%
Sold All 😨
(Was: #109)
0.3 -3,802 -100.0%
CLOSED
$— 2003 Q3 13F Filing 2025-12-31 2026-02-14 (Est.)
BABA
ALIBABA GROUP H...
Consumer Cyclical 0.00% 0.32%
Sold All 😨
(Was: #112)
0.3 -6,136 -100.0%
CLOSED
$— 2017 Q1 13F Filing 2025-12-31 2026-02-14 (Est.)
AIT
APPLIED INDL TE...
Industrials 0.00% 0.31%
Sold All 😨
(Was: #114)
0.3 -4,099 -100.0%
CLOSED
$— 2023 Q1 13F Filing 2025-12-31 2026-02-14 (Est.)
PTON
PELOTON INTERAC...
CALL
CALL Option 0.00% 0.31%
Sold All 😨
(Was: #116)
0.3 -116,400 -100.0%
CLOSED
$— 2025 Q2 13F Filing 2025-12-31 2026-02-14 (Est.)
FIS
FIDELITY NATL I...
Technology 0.00% 0.30%
Sold All 😨
(Was: #119)
0.3 -15,401 -100.0%
CLOSED
$— 2025 Q2 13F Filing 2025-12-31 2026-02-14 (Est.)
NTNX
NUTANIX INC
Technology 0.00% 0.28%
Sold All 😨
(Was: #122)
0.3 -12,875 -100.0%
CLOSED
$— 2017 Q4 13F Filing 2025-12-31 2026-02-14 (Est.)
CELH
CELSIUS HLDGS I...
Consumer Defensive 0.00% 0.28%
Sold All 😨
(Was: #124)
0.3 -16,591 -100.0%
CLOSED
$— 2025 Q3 13F Filing 2025-12-31 2026-02-14 (Est.)
LNN
LINDSAY CORP
Industrials 0.00% 0.25%
Sold All 😨
(Was: #126)
0.3 -5,943 -100.0%
CLOSED
$— 2009 Q4 13F Filing 2025-12-31 2026-02-14 (Est.)
WBD
WARNER BROS DIS...
Communication Services 0.00% 0.24%
Sold All 😨
(Was: #128)
0.3 -41,744 -100.0%
CLOSED
$— 2025 Q3 13F Filing 2025-12-31 2026-02-14 (Est.)
CERT
CERTARA INC
Healthcare 0.00% 0.23%
Sold All 😨
(Was: #130)
0.3 -64,672 -100.0%
CLOSED
$— 2025 Q2 13F Filing 2025-12-31 2026-02-14 (Est.)
FND
FLOOR & DECOR H...
Consumer Cyclical 0.00% 0.23%
Sold All 😨
(Was: #131)
0.3 -10,418 -100.0%
CLOSED
$— 2018 Q3 13F Filing 2025-12-31 2026-02-14 (Est.)
NOK
NOKIA CORP
CALL
CALL Option 0.00% 0.21%
Sold All 😨
(Was: #132)
0.3 -150,000 -100.0%
CLOSED
$— 2002 Q3 13F Filing 2025-12-31 2026-02-14 (Est.)
MCHP
MICROCHIP TECHN...
Technology 0.00% 0.20%
Sold All 😨
(Was: #133)
0.3 -10,545 -100.0%
CLOSED
$— 2006 Q4 13F Filing 2025-12-31 2026-02-14 (Est.)
MD
PEDIATRIX MEDIC...
Healthcare 0.00% 0.17%
Sold All 😨
(Was: #136)
0.3 -33,752 -100.0%
CLOSED
$— 2025 Q1 13F Filing 2025-12-31 2026-02-14 (Est.)
AEIS
ADVANCED ENERGY...
Industrials 0.00% 0.16%
Sold All 😨
(Was: #138)
0.3 -3,227 -100.0%
CLOSED
$— 2025 Q1 13F Filing 2025-12-31 2026-02-14 (Est.)
CGNX
COGNEX CORP
Technology 0.00% 0.16%
Sold All 😨
(Was: #139)
0.3 -12,053 -100.0%
CLOSED
$— 2013 Q2 13F Filing 2025-12-31 2026-02-14 (Est.)
INFY
INFOSYS LTD
PUT
PUT Option 0.00% 0.16%
Sold All 😨
(Was: #140)
0.3 -32,800 -100.0%
CLOSED
$— 2016 Q2 13F Filing 2025-12-31 2026-02-14 (Est.)
ZG
ZILLOW GROUP IN...
Communication Services 0.00% 0.14%
Sold All 😨
(Was: #142)
0.3 -6,523 -100.0%
CLOSED
$— 2018 Q3 13F Filing 2025-12-31 2026-02-14 (Est.)
FICO
FAIR ISAAC CORP
Technology 0.00% 0.12%
Sold All 😨
(Was: #143)
0.3 -281 -100.0%
CLOSED
$— 2006 Q4 13F Filing 2025-12-31 2026-02-14 (Est.)
FDS
FACTSET RESH SY...
PUT
PUT Option 0.00% 0.09%
Sold All 😨
(Was: #144)
0.3 -1,100 -100.0%
CLOSED
$— 2025 Q3 13F Filing 2025-12-31 2026-02-14 (Est.)
Showing 1-25 of 201 holdings

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