Sandler Capital Management
In its 13F for Q2 2026 (holdings as of June 30, 2026, filed August 14, 2026), Sandler Capital Management reported 112 stock positions worth $169.3 million. Its top holding was Keysight Technologies (KEYS) at 5.1% of the portfolio, followed by Madison Square Garden Sports (MSGS, 2.7%) and Eastgroup Properties (EGP, 2.5%). Compared with Q1 2026, it opened 45 new positions, sold out of 34, added to 21 and reduced 45. The biggest buy was a new position in MSC Industrial Direct Class A (MSM) and the biggest sale Tko (TKO, shares −57%).
- Most Recent 13F
- Q2 2026
- Location
- NEW YORK, NY
- CIK
- 0001000742
- Portfolio Value
- $169.3M (Q2 2026)
- SEC Filing
- 0001140361-26-033161 ↗ filed Aug 14, 2026
Holdings Value
Holdings 112 stocks · $169.3M
| KEYS Keysight Technologies Inc. | 5.12% | 24,752 | $8.7M | Reduce -25.2% |
| MSGS Madison Square Garden Sports | 2.68% | 11,297 | $4.5M | Reduce -30.8% |
| EGP Eastgroup Properties Inc. | 2.50% | 20,906 | $4.2M | Reduce -18.7% |
| MSM MSC Industrial Direct Co. Class A | 2.25% | 32,085 | $3.8M | New |
| PLD Prologis Inc. | 2.18% | 27,249 | $3.7M | Reduce -18.4% |
| HNGE Hinge Health Inc. Class A | 1.94% | 39,673 | $3.3M | Add +26.6% |
| MSGE Madison Square Garden Entert | 1.81% | 37,839 | $3.1M | Reduce -47.2% |
| AME Ametek Inc. | 1.79% | 12,553 | $3.0M | Add +22.4% |
| FWONK Liberty Media Corp. Class C | 1.67% | 29,692 | $2.8M | New |
| TKO Tko Group Holdings Inc. | 1.66% | 13,996 | $2.8M | Reduce -56.8% |
| MAR Marriott International Class A | 1.65% | 7,542 | $2.8M | New |
| SXT Sensient Technologies Corp. | 1.64% | 22,588 | $2.8M | Add +105.3% |
| SBUX Starbucks Corp. | 1.63% | 27,018 | $2.8M | Add +119.7% |
| LYV Live Nation Entertainment Inc. | 1.63% | 15,068 | $2.8M | Reduce -4.1% |
| DGX Quest Diagnostics Inc. | 1.61% | 12,889 | $2.7M | Reduce -13.8% |
| XLV SS Health Care Select Sector | 1.60% | 17,034 | $2.7M | Add +138.8% |
| CLH Clean Harbors Inc. | 1.59% | 8,985 | $2.7M | Reduce -18.5% |
| TSM Taiwan Semiconductor-SP ADR | 1.58% | 5,589 | $2.7M | Reduce -46.0% |
| PLXS Plexus Corp. | 1.57% | 8,832 | $2.7M | New |
| AMAT Applied Materials Inc. | 1.48% | 3,472 | $2.5M | New |
| FOR Forestar Group Inc. | 1.48% | 79,222 | $2.5M | Reduce -28.6% |
| RPM RPM International Inc. | 1.46% | 22,270 | $2.5M | New |
| SPOT Spotify Technology SA | 1.43% | 5,281 | $2.4M | New |
| EBAY eBay Inc. | 1.37% | 20,710 | $2.3M | Add +70.5% |
| AMZN Amazon.com Inc. | 1.36% | 9,667 | $2.3M | Add +25.4% |
| RTX RTX Corp. | 1.35% | 12,031 | $2.3M | Add +23.7% |
| HLT Hilton Worldwide Holdings Inc. | 1.25% | 6,405 | $2.1M | New |
| LEVI Levi Strauss & Co. Class A | 1.17% | 79,860 | $2.0M | New |
| TDY Teledyne Technologies Inc. | 1.16% | 2,941 | $2.0M | Reduce -13.6% |
| ROK Rockwell Automation Inc. | 1.14% | 3,914 | $1.9M | Add +98.4% |
| RBC RBC Bearings Inc. | 1.14% | 3,004 | $1.9M | Add +24.8% |
| EQIX Equinix Inc. | 1.09% | 1,774 | $1.8M | Add +21.5% |
| AIT Applied Industrial Tech Inc. | 1.04% | 5,232 | $1.8M | New |
| CSX CSX Corp. | 1.02% | 36,259 | $1.7M | Add +45.0% |
| WWD Woodward Inc. | 0.96% | 3,810 | $1.6M | Reduce -17.6% |
| ADI Analog Devices Inc. | 0.95% | 4,069 | $1.6M | Reduce -44.5% |
| GH Guardant Health Inc. | 0.94% | 10,580 | $1.6M | New |
| IEX Idex Corp. | 0.93% | 6,941 | $1.6M | New |
| AVY Avery Dennison Corp. | 0.93% | 9,682 | $1.6M | New |
| RVMD Revolution Medicines Inc. | 0.92% | 8,328 | $1.6M | New |
| CDNS Cadence Design SYS Inc. | 0.89% | 4,008 | $1.5M | New |
| MAS Masco Corp. | 0.87% | 18,125 | $1.5M | New |
| BE Bloom Energy Corp. Class A | 0.87% | 4,869 | $1.5M | Add +59.0% |
| STM Stmicroelectronics NV-NY SHS | 0.86% | 19,539 | $1.5M | New |
| TLN Talen Energy Corp. | 0.86% | 3,775 | $1.5M | Add +114.5% |
| SPHR Sphere Entertainment Co. | 0.85% | 8,339 | $1.4M | Reduce -15.1% |
| LHX L3HARRIS Technologies Inc. | 0.83% | 4,858 | $1.4M | Reduce -26.4% |
| CAVA Cava Group Inc. | 0.83% | 17,874 | $1.4M | Add +95.3% |
| RSPH Invesco S&P 500 Equal Weight | 0.80% | 41,000 | $1.4M | New |
| RL Ralph Lauren Corp. | 0.80% | 3,389 | $1.4M | Reduce -58.5% |
| Q Qnity Electronics Inc. | 0.80% | 8,316 | $1.4M | New |
| TOL Toll Brothers Inc. | 0.80% | 8,172 | $1.3M | New |
| A Agilent Technologies Inc. | 0.78% | 9,986 | $1.3M | Reduce -8.3% |
| MTSI Macom Technology Solutions H | 0.77% | 3,447 | $1.3M | Reduce -49.7% |
| CGNX Cognex Corp. | 0.74% | 17,340 | $1.3M | New |
| DY Dycom Industries Inc. | 0.74% | 2,466 | $1.2M | Add +23.4% |
| TER Teradyne Inc. | 0.73% | 2,545 | $1.2M | Reduce -53.9% |
| APH Amphenol Corp. Class A | 0.73% | 6,972 | $1.2M | Reduce -1.8% |
| LLY Eli Lilly & Co. | 0.72% | 1,012 | $1.2M | Reduce -53.4% |
| HD Home Depot Inc. | 0.70% | 3,384 | $1.2M | Reduce -39.7% |
| AROC Archrock Inc. | 0.69% | 28,663 | $1.2M | New |
| DELL Dell Technologies -C | 0.69% | 2,703 | $1.2M | New |
| BHP BHP Group Ltd.-Spon ADR filed as BHP BILLITON LIMITED | 0.68% | 13,910 | $1.2M | Add +17.8% |
| HUBB Hubbell Inc. | 0.67% | 2,161 | $1.1M | Reduce -50.3% |
| CTOS Custom Truck One Source Inc. | 0.61% | 87,077 | $1.0M | Reduce -29.4% |
| LRCX Lam Research Corp. | 0.60% | 2,349 | $1.0M | New |
| IVZ Invesco Ltd. | 0.59% | 37,987 | $1.0M | New |
| RS Reliance Inc. | 0.58% | 2,608 | $974K | New |
| IYR iShares US Real Estate ETF | 0.56% | 9,300 | $951K | New |
| VRSN Verisign Inc. | 0.55% | 3,732 | $939K | New |
| LIN Linde PLC | 0.54% | 1,757 | $912K | Reduce -38.4% |
| CEPT Cantor Equity Partners Class A | 0.53% | 67,000 | $899K | Reduce -44.6% |
| AXP American Express Co. | 0.52% | 2,588 | $875K | New |
| VIAV Viavi Solutions Inc. | 0.50% | 17,824 | $851K | Reduce -24.2% |
| GLW Corning Inc. | 0.50% | 3,299 | $843K | Reduce -83.5% |
| GOOG Alphabet Inc. Class C | 0.50% | 2,384 | $842K | Add +13.7% |
| CCJ Cameco Corp. | 0.49% | 8,218 | $837K | New |
| MRVL Marvell Technology Inc. | 0.49% | 2,800 | $834K | Reduce -46.1% |
| ETN Eaton Corp. PLC | 0.48% | 1,905 | $812K | Reduce -11.5% |
| TRMB Trimble Inc. | 0.48% | 15,802 | $809K | Reduce -38.6% |
| NOK Nokia Corp.-Spon ADR | 0.47% | 60,362 | $802K | Reduce -66.5% |
| MP MP Materials Corp. | 0.47% | 14,192 | $795K | New |
| NVT Nvent Electric PLC | 0.46% | 4,626 | $785K | Reduce -51.6% |
| ASML ASML Holding NV-NY Reg SHS filed as ASML HLDG NV | 0.46% | 390 | $776K | New |
| VRT Vertiv Holdings Co. Class A | 0.45% | 2,273 | $761K | New |
| GE General Electric filed as GE AEROSPACE | 0.45% | 2,034 | $760K | Reduce -46.5% |
| DHR Danaher Corp. | 0.42% | 3,717 | $708K | Reduce -69.7% |
| NDSN Nordson Corp. | 0.42% | 2,346 | $708K | New |
| NBIS Nebius Group NV | 0.41% | 2,528 | $698K | New |
| AXON Axon Enterprise Inc. | 0.41% | 1,240 | $695K | Add +69.9% |
| CBOE Cboe Global Markets Inc. | 0.37% | 2,594 | $629K | Reduce -38.1% |
| INFQ Infleqtion Inc. | 0.37% | 46,974 | $626K | Reduce -22.7% |
| CMC Commercial Metals Co. | 0.36% | 9,606 | $603K | New |
| MU Micron Technology Inc. | 0.35% | 520 | $600K | New |
| H Hyatt Hotels Corp. Class A | 0.32% | 2,800 | $543K | New |
| CW Curtiss-Wright Corp. | 0.31% | 687 | $521K | Reduce -53.0% |
| CIEN Ciena Corp. | 0.28% | 962 | $472K | New |
| COHR Coherent Corp. | 0.27% | 1,171 | $462K | Reduce -67.9% |
| KRMN Karman Holdings Inc. | 0.27% | 9,200 | $459K | Add +8.9% |
| AER Aercap Holdings NV | 0.26% | 3,063 | $447K | Reduce -39.4% |
Options reported separately and not counted above: ROKU puts ($6.4M), CBRS puts ($4.4M), BE calls ($4.0M), ORCL puts ($3.5M), UPST puts ($2.2M), CHYM puts ($2.2M), CMC calls ($1.6M), LION calls ($1.4M), LMND puts ($1.4M), SHAK puts ($1.3M), COIN puts ($1.3M), ERIC puts ($1.1M), and 2 more.
Portfolio Sells Q1 2026 → Q2 2026
| TKO Tko Group Holdings Inc. | Reduce -56.8% | 1.66% | −2.78 |
| GLW Corning Inc. | Reduce -83.5% | 0.50% | −1.35 |
| HON Honeywell International Inc. | Sold out | 0.00% | −1.28 |
| WAB Wabtec Corp. | Sold out | 0.00% | −1.26 |
| KEYS Keysight Technologies Inc. | Reduce -25.2% | 5.12% | −1.23 |
| DHR Danaher Corp. | Reduce -69.7% | 0.42% | −1.16 |
| BA The Boeing Co. | Sold out | 0.00% | −1.15 |
| FDX FedEx Corp. | Sold out | 0.00% | −1.14 |
| LMT Lockheed Martin Corp. | Sold out | 0.00% | −1.14 |
| FLEX Flex Ltd. | Sold out | 0.00% | −1.13 |
| RL Ralph Lauren Corp. | Reduce -58.5% | 0.80% | −1.11 |
| MSGE Madison Square Garden Entert | Reduce -47.2% | 1.81% | −1.06 |
| MSGS Madison Square Garden Sports | Reduce -30.8% | 2.68% | −0.88 |
| NET Cloudflare Inc. Class A | Sold out | 0.00% | −0.83 |
| PLD Prologis Inc. | Reduce -18.4% | 2.18% | −0.82 |
| TSM Taiwan Semiconductor-SP ADR | Reduce -46.0% | 1.58% | −0.80 |
| STLD Steel Dynamics Inc. | Sold out | 0.00% | −0.80 |
| HUBB Hubbell Inc. | Reduce -50.3% | 0.67% | −0.78 |
| IDXX Idexx Laboratories Inc. | Sold out | 0.00% | −0.75 |
| SHOP Shopify Inc. Class A | Sold out | 0.00% | −0.74 |
| EGP Eastgroup Properties Inc. | Reduce -18.7% | 2.50% | −0.73 |
| AMRZ Amrize Ltd. | Sold out | 0.00% | −0.72 |
| LHX L3HARRIS Technologies Inc. | Reduce -26.4% | 0.83% | −0.71 |
| MCO Moody's Corp. | Sold out | 0.00% | −0.71 |
| AEHR Aehr Test Systems | Sold out | 0.00% | −0.70 |
| COST Costco Wholesale Corp. | Sold out | 0.00% | −0.66 |
| TRMB Trimble Inc. | Reduce -38.6% | 0.48% | −0.66 |
| LLY Eli Lilly & Co. | Reduce -53.4% | 0.72% | −0.64 |
| TECH Bio-Techne Corp. | Sold out | 0.00% | −0.64 |
| ADI Analog Devices Inc. | Reduce -44.5% | 0.95% | −0.63 |
| VLTO Veralto Corp. | Sold out | 0.00% | −0.60 |
| HSY The Hershey Co. | Sold out | 0.00% | −0.59 |
| CRH CRH PLC | Sold out | 0.00% | −0.58 |
| SPXC SPX Technologies Inc. | Sold out | 0.00% | −0.58 |
| VMI Valmont Industries | Sold out | 0.00% | −0.58 |
| CLH Clean Harbors Inc. | Reduce -18.5% | 1.59% | −0.56 |
| HD Home Depot Inc. | Reduce -39.7% | 0.70% | −0.55 |
| AEIS Advanced Energy Industries | Sold out | 0.00% | −0.55 |
| AMD Advanced Micro Devices | Sold out | 0.00% | −0.55 |
| NOK Nokia Corp.-Spon ADR | Reduce -66.5% | 0.47% | −0.51 |
| TSEM Tower Semiconductor Ltd. | Sold out | 0.00% | −0.49 |
| CAT Caterpillar Inc. | Sold out | 0.00% | −0.46 |
| DECK Deckers Outdoor Corp. | Sold out | 0.00% | −0.45 |
| CBOE Cboe Global Markets Inc. | Reduce -38.1% | 0.37% | −0.43 |
| LIN Linde PLC | Reduce -38.4% | 0.54% | −0.42 |
| TER Teradyne Inc. | Reduce -53.9% | 0.73% | −0.39 |
| NOC Northrop Grumman Corp. | Sold out | 0.00% | −0.38 |
| DGX Quest Diagnostics Inc. | Reduce -13.8% | 1.61% | −0.38 |
| CW Curtiss-Wright Corp. | Reduce -53.0% | 0.31% | −0.37 |
| JBL Jabil Inc. | Sold out | 0.00% | −0.37 |
Portfolio Buys Q1 2026 → Q2 2026
| MSM MSC Industrial Direct Co. Class A | New | 2.25% | +2.25 |
| FWONK Liberty Media Corp. Class C | New | 1.67% | +1.67 |
| MAR Marriott International Class A | New | 1.65% | +1.65 |
| PLXS Plexus Corp. | New | 1.57% | +1.57 |
| AMAT Applied Materials Inc. | New | 1.48% | +1.48 |
| RPM RPM International Inc. | New | 1.46% | +1.46 |
| SPOT Spotify Technology SA | New | 1.43% | +1.43 |
| HLT Hilton Worldwide Holdings Inc. | New | 1.25% | +1.25 |
| LEVI Levi Strauss & Co. Class A | New | 1.17% | +1.17 |
| HNGE Hinge Health Inc. Class A | Add +26.6% | 1.94% | +1.12 |
| AIT Applied Industrial Tech Inc. | New | 1.04% | +1.04 |
| SXT Sensient Technologies Corp. | Add +105.3% | 1.64% | +1.00 |
| GH Guardant Health Inc. | New | 0.94% | +0.94 |
| IEX Idex Corp. | New | 0.93% | +0.93 |
| AVY Avery Dennison Corp. | New | 0.93% | +0.93 |
| RVMD Revolution Medicines Inc. | New | 0.92% | +0.92 |
| CDNS Cadence Design SYS Inc. | New | 0.89% | +0.89 |
| XLV SS Health Care Select Sector | Add +138.8% | 1.60% | +0.89 |
| SBUX Starbucks Corp. | Add +119.7% | 1.63% | +0.88 |
| MAS Masco Corp. | New | 0.87% | +0.87 |
| STM Stmicroelectronics NV-NY SHS | New | 0.86% | +0.86 |
| RSPH Invesco S&P 500 Equal Weight | New | 0.80% | +0.80 |
| Q Qnity Electronics Inc. | New | 0.80% | +0.80 |
| TOL Toll Brothers Inc. | New | 0.80% | +0.80 |
| CGNX Cognex Corp. | New | 0.74% | +0.74 |
| AROC Archrock Inc. | New | 0.69% | +0.69 |
| DELL Dell Technologies -C | New | 0.69% | +0.69 |
| ROK Rockwell Automation Inc. | Add +98.4% | 1.14% | +0.66 |
| EBAY eBay Inc. | Add +70.5% | 1.37% | +0.62 |
| LRCX Lam Research Corp. | New | 0.60% | +0.60 |
| IVZ Invesco Ltd. | New | 0.59% | +0.59 |
| BE Bloom Energy Corp. Class A | Add +59.0% | 0.87% | +0.59 |
| RS Reliance Inc. | New | 0.58% | +0.58 |
| IYR iShares US Real Estate ETF | New | 0.56% | +0.56 |
| VRSN Verisign Inc. | New | 0.55% | +0.55 |
| AXP American Express Co. | New | 0.52% | +0.52 |
| CCJ Cameco Corp. | New | 0.49% | +0.49 |
| TLN Talen Energy Corp. | Add +114.5% | 0.86% | +0.47 |
| MP MP Materials Corp. | New | 0.47% | +0.47 |
| ASML ASML Holding NV-NY Reg SHS | New | 0.46% | +0.46 |
| VRT Vertiv Holdings Co. Class A | New | 0.45% | +0.45 |
| NDSN Nordson Corp. | New | 0.42% | +0.42 |
| NBIS Nebius Group NV | New | 0.41% | +0.41 |
| CMC Commercial Metals Co. | New | 0.36% | +0.36 |
| MU Micron Technology Inc. | New | 0.35% | +0.35 |
| CAVA Cava Group Inc. | Add +95.3% | 0.83% | +0.33 |
| H Hyatt Hotels Corp. Class A | New | 0.32% | +0.32 |
| CSX CSX Corp. | Add +45.0% | 1.02% | +0.32 |
| AME Ametek Inc. | Add +22.4% | 1.79% | +0.30 |
| CIEN Ciena Corp. | New | 0.28% | +0.28 |
Options Activity Q1 2026 → Q2 2026
| TSM Taiwan Semiconductor-SP ADR | put | Sold out | 24,300 | $8.2Mbefore exit |
| ROKU Roku Inc. | put | New | 46,600 | $6.4M |
| CBRS Cerebras Systems Inc. Class A | put | New | 20,000 | $4.4M |
| MS Morgan Stanley | put | Sold out | 25,000 | $4.1Mbefore exit |
| BE Bloom Energy Corp. Class A | call | New | 13,300 | $4.0M |
| CRWV Coreweave Inc. Class A | put | Sold out | 48,900 | $3.8Mbefore exit |
| XYZ Block Inc. | put | Sold out | 60,000 | $3.6Mbefore exit |
| ORCL Oracle Corp. | put | Add +171.3% | 23,600 | $3.5M |
| MRVL Marvell Technology Inc. | call | Sold out | 29,100 | $2.9Mbefore exit |
| AVY Avery Dennison Corp. | call | Sold out | 15,800 | $2.7Mbefore exit |
| ROKU Roku Inc. | call | Sold out | 27,100 | $2.6Mbefore exit |
| AAPL Apple Inc. | call | Sold out | 9,700 | $2.5Mbefore exit |
| ARES Ares Management Corp. Class A | put | Sold out | 22,500 | $2.5Mbefore exit |
| UPST Upstart Holdings Inc. | put | Add +19.0% | 61,900 | $2.2M |
| CHYM Chime Financial Inc. Class A | put | Add +9.2% | 106,000 | $2.2M |
| HNGE Hinge Health Inc. Class A | call | Sold out | 48,400 | $1.9Mbefore exit |
| CMC Commercial Metals Co. | call | New | 26,100 | $1.6M |
| LION Lionsgate Studios Corp. | call | Reduce -25.7% | 94,400 | $1.4M |
| LMND Lemonade Inc. | put | New | 22,200 | $1.4M |
| SOFI Sofi Technologies Inc. | put | Sold out | 90,000 | $1.4Mbefore exit |
| SHAK Shake Shack Inc. Class A | put | New | 23,600 | $1.3M |
| COIN Coinbase Global Inc. Class A | put | New | 8,900 | $1.3M |
| INTC Intel Corp. | put | Sold out | 25,700 | $1.1Mbefore exit |
| ERIC Ericsson (lm) Tel-SP ADR | put | New | 100,000 | $1.1M |
| NTNX Nutanix Inc. Class A | call | Sold out | 28,800 | $1.1Mbefore exit |
| STM Stmicroelectronics NV-NY SHS | call | Sold out | 30,000 | $1.0Mbefore exit |
| RHI Robert Half Inc. | put | New | 18,900 | $580K |
| GT Goodyear Tire & Rubber Co. | put | New | 86,900 | $574K |
| FLO Flowers Foods Inc. | put | Sold out | 65,100 | $531Kbefore exit |
| GOGO Gogo Inc. | put | Sold out | 95,600 | $384Kbefore exit |
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 112 | $169.3M | KEYS, MSGS, EGP, MSM, PLD |
| Q1 2026 | 100 | $147.2M | KEYS, TKO, MSGS, EGP, PLD |
| Q4 2025 | 108 | $222.2M | KEYS, GLW, TKO, PLD, RTX |
| Q3 2025 | 119 | $272.1M | GLW, TKO, META, KEYS, HOLX |
| Q2 2025 | 123 | $287.8M | GLW, TKO, HOLX, META, VMI |
| Q1 2025 | 100 | $306.0M | VRSK, RTX, AMZN, LLY, GLW |
| Q4 2024 | 119 | $610.4M | SHOP, SYK, NET, AMZN, CRL |
| Q3 2024 | 113 | $517.0M | TKO, META, LYV, ETN, GLW |
| Q2 2024 | 88 | $507.4M | CLH, XYL, LYV, META, TKO |
| Q1 2024 | 102 | $820.4M | CLH, XYL, LYV, CAE, MLM |