SANDLER CAPITAL MANAGEMENT

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CIK 1000742

13F portfolio (2026-Q1)

$147M

Positions

100

Implied 1Y CAGR

modeled · as filed

Long positions in SEC Section 13(f) securities (US-listed stocks, ADRs and ETFs), largest first · Δ vs 2025-Q4. A lagged quarterly snapshot (filed ≤45 days after quarter-end); excludes shorts, options, cash, and shares listed only on non-US exchanges — foreign companies held via a US listing or ADR (e.g. Alibaba, TSMC) ARE included.

Implied return what this book implies · modeled, not advice methodology →

Open in PORT →

As filed = each book applied at its quarter-end (what the reported book did) · As copyable = applied at its statutory 45-day filing deadline (what a 13F follower could have earned).

Computing…

Hypothetical modeled performance constructed with hindsight — not actual results, and not indicative of future results. See the Disclaimer.

Exposures · what this manager owns, by sector & size (2026-Q1)

Holdings

100

Top 5

20.6%

Top 10

31.9%

Effective N

54.1

HHI

0.018

This quarter

39 new · 0 exit →

By sector

Information Technology32.1%

Industrials21.5%

Communication Services13.7%

Real Estate9.4%

Materials6.9%

Consumer Discretionary6.2%

Health Care5.6%

Unclassified2.8%

Other1.9%

By market cap

Large ($10–200B)67.5%

Mid ($2–10B)14.7%

Mega (>$200B)8.8%

Unknown7.2%

Small ($300M–2B)1.8%

By region

North America92.8%

Asia-Pacific3.0%

Other2.8%

Europe1.0%

Middle East0.5%

By industry group GICS — finer than sector

Industry group	Weight	Names
Technology Hardware & Equipment	14.60%	11
Entertainment	13.29%	5
Semiconductors & Semiconductor Equipment	11.02%	12
Aerospace & Defense	10.04%	10
Equity Real Estate Investment Trusts (REITs)	7.20%	3
Machinery	4.70%	8
Commercial Services & Supplies	4.46%	5
Metals & Mining	3.58%	4
Specialty Retail	3.01%	3
Unclassified	2.79%	4
Pharmaceuticals & Biotechnology	2.74%	3
Chemicals	2.46%	5
Real Estate Management & Development	2.20%	2
Electrical Equipment & Components	2.14%	3
Health Care Providers & Services	1.99%	1
Textiles, Apparel & Luxury Goods	1.91%	1
Software & IT Services	1.84%	4
Software	1.58%	2
Communications Equipment	1.34%	2
Hotels, Restaurants & Leisure	1.25%	2
Airlines	1.14%	1
Capital Markets	0.94%	2
Life Sciences Tools & Services	0.84%	1
Construction Materials	0.81%	2
Road & Rail	0.70%	1
Food Products	0.59%	1
Construction & Engineering	0.46%	1
Utilities	0.38%	1

Top holdings

#	Ticker	Name	Sector	Weight
1	KEYS	Keysight Technologies, Inc.	Information Technology	6.35%
2	TKO	TKO Group Holdings, Inc.	Communication Services	4.44%
3	MSGS	Madison Square Garden Sports Corp.	Communication Services	3.56%
4	EGP	EASTGROUP PROPERTIES INC	Real Estate	3.23%
5	PLD	Prologis, Inc.	Real Estate	3.00%
6	MSGE	Madison Square Garden Entertainment Corp.	Communication Services	2.87%
7	TSM	Taiwan Semiconductor Manufacturing Co Ltd	Information Technology	2.38%
8	CLH	CLEAN HARBORS INC	Industrials	2.15%
9	DGX	QUEST DIAGNOSTICS INC	Health Care	1.99%
10	RL	RALPH LAUREN CORP	Consumer Discretionary	1.91%

96/100 names classified · sector 97.2% of weight · industry 97.2% · mkt cap 92.8%; unclassified names shown, never dropped.

Sector allocation over time · how the GICS mix & top names shifted quarter by quarter

top 5/sector, rest → “Other” · 52 quarters

Information TechnologyDHR, HUBB, TER, KEYS, TSM · other

IndustrialsCLH, ETN, AMN, TRU, FDX · other

Health CareCRL, TECH, ABT, ILMN, BDX · other

MaterialsENTG, VMC, PG, GLW, SXT · other

FinancialsV, MA, BLK, BAC, C · other

Consumer DiscretionaryAMZN, WSO, SCI, MGM, SONO · other

Communication ServicesMETA, LYV, TKO, MTN, MSGS · other

Real EstateAVB, EGP, PLD, JLL, GLPI · other

Consumer StaplesPEP, KO, BF.B, STZ, SAM · other

UtilitiesLNG, WMB, TLN, VST, CEG · other

EnergyHP, EOG, RRC, MPC, PTEN · other

UnclassifiedLIBERTY, GLD, POWERSHARES QQQ TRUST, SPY, IEF · other

Sector is classified on each name's CURRENT fundamentals, not point-in-time — apparent sector drift can reflect the market re-rating a holding, not a manager trade. 13F is a lagged quarterly snapshot of long positions in US-listed securities only — foreign companies held via a US listing or ADR ARE included, but shares listed only on non-US exchanges (plus shorts, options and cash) are not. Latest quarter: 97.2% of the book is sector-classified (unclassified names shown, never dropped).

Style box · size × value-growth placement of the reported book (2026-Q1), classified on current fundamentals (not point-in-time) — load it into PORT to overlay your own portfolio

holdings, colored by sector (78 classified)SANDLER CAPITAL MANAGEMENT centroid (Mid Core)

Information TechnologyIndustrialsReal EstateCommunication ServicesConsumer DiscretionaryMaterialsHealth CareFinancialsConsumer Staples

Style box summary for SANDLER CAPITAL MANAGEMENT: centroid Mid Core. Heaviest cells: Mid Growth 23.2%, Mid Core 14.9%, Large Growth 11.8%.

Classified: 81.3% of book weight (78/100 names) · unclassified 18.7%: MSGE, TSM, LYV, MTSI, NOK, , NET, HNGE, SPHR, AMRZ +12 more. Size: cap 70/20/10 bands; style: value/growth composite on our own metrics — not Morningstar's model.

Contribution holdings-based, any period

No contribution data for this period.

Holdings· 100 positions (2026-Q1) · largest first · Δ vs 2025-Q4

#	Security	Shares	Value	Weight	Δ QoQ
1	KEYSKEYSIGHT TECHNOLOGIES INC	33,077	$9M	6.3%	TRIM −33%
2	TKOTKO GROUP HOLDINGS INC	32,419	$7M	4.4%	TRIM −29%
3	MSGSMADISON SQUARE GRDN SPRT COR	16,325	$5M	3.6%	TRIM −17%
4	EGPEASTGROUP PPTYS INC	25,723	$5M	3.2%	ADD 6%
5	PLDPROLOGIS INC.	33,376	$4M	3.0%	TRIM −27%
6	MSGEMADISON SQUARE GARDEN ENTMT	71,696	$4M	2.9%	ADD 20%
7	TSMTAIWAN SEMICONDUCTOR MFG LTD	10,357	$4M	2.4%	TRIM −42%
8	CLHCLEAN HARBORS INC	11,027	$3M	2.1%	NEW
9	DGXQUEST DIAGNOSTICS INC	14,955	$3M	2.0%	NEW
10	RLRALPH LAUREN CORP	8,168	$3M	1.9%	ADD 17%
11	GLWCORNING INC	19,970	$3M	1.8%	TRIM −82%
12	FORFORESTAR GROUP INC	110,965	$3M	1.8%	ADD 5%
13	LYVLIVE NATION ENTERTAINMENT IN	15,706	$2M	1.6%	ADD 4%
14	ADIANALOG DEVICES INC	7,338	$2M	1.6%	NEW
15	DHRDANAHER CORP DEL	12,250	$2M	1.6%	TRIM −14%
16	LHXL3HARRIS TECHNOLOGIES INC	6,604	$2M	1.5%	TRIM −8%
17	AMEAMETEK INC	10,258	$2M	1.5%	NEW
18	HUBBHUBBELL INC	4,348	$2M	1.4%	ADD 186%
19	TDYTELEDYNE TECHNOLOGIES INC	3,403	$2M	1.4%	TRIM −30%
20	LLYELI LILLY & CO	2,171	$2M	1.4%	HOLD
21	HONHONEYWELL INTL INC	8,350	$2M	1.3%	TRIM −47%
22	RTXRTX CORPORATION	9,724	$2M	1.3%	TRIM −68%
23	WABWABTEC	7,411	$2M	1.3%	NEW
24	HDHOME DEPOT INC	5,609	$2M	1.3%	NEW
25	BABOEING CO	8,500	$2M	1.1%	NEW
26	TRMBTRIMBLE INC	25,756	$2M	1.1%	TRIM −18%
27	FDXFEDEX CORP	4,700	$2M	1.1%	NEW
28	LMTLOCKHEED MARTIN CORP	2,765	$2M	1.1%	NEW
29	FLEXFlextronics Internat'l. Ltd.	25,358	$2M	1.1%	NEW
30	WWDWOODWARD INC	4,622	$2M	1.1%	ADD 46%
31	TERTERADYNE INC	5,523	$2M	1.1%	TRIM −10%
32	AMZNAMAZON COM INC	7,707	$2M	1.1%	TRIM −40%
33	MTSIMACOM TECH SOLUTIONS HLDGS I	6,857	$2M	1.0%	NEW
34	NOKNOKIA CORP	180,418	$1M	1.0%	NEW
35	EQIXEQUINIX INC	1,460	$1M	1.0%	NEW
36	LINLINDE PLC	2,850	$1M	1.0%	NEW
37	CANTOR EQUITY PARTNERS II IN	121,000	$1M	0.9%	NEW
38	RBCRBC BEARINGS INC	2,407	$1M	0.9%	NEW
39	AAGILENT TECHNOLOGIES INC	10,893	$1M	0.8%	TRIM −40%
40	NETCLOUDFLARE INC	5,954	$1M	0.8%	NEW
41	HNGEHINGE HEALTH INC	31,341	$1M	0.8%	TRIM −38%
42	CBOECBOE GLOBAL MKTS INC	4,188	$1M	0.8%	TRIM −57%
43	STLDSTEEL DYNAMICS INC	6,508	$1M	0.8%	TRIM −40%
44	SPHRSPHERE ENTERTAINMENT CO	9,822	$1M	0.8%	TRIM −68%
45	NVTNVENT ELECTRIC PLC	9,553	$1M	0.8%	TRIM −16%
46	EBAYEBAY INC.	12,143	$1M	0.8%	NEW
47	IDXXIDEXX LABS INC	1,965	$1M	0.8%	ADD 27%
48	SBUXSTARBUCKS CORP	12,300	$1M	0.7%	TRIM −45%
49	SHOPSHOPIFY INC	9,188	$1M	0.7%	ADD 48%
50	GEGE AEROSPACE	3,800	$1M	0.7%	NEW
51	AMRZAMRIZE LTD	18,806	$1M	0.7%	ADD 98%
52	XLVSELECT SECTOR SPDR TR	7,134	$1M	0.7%	ADD 73%
53	MCOMOODYS CORP	2,382	$1M	0.7%	NEW
54	AEHRAEHR TEST SYS	27,807	$1M	0.7%	NEW
55	CSXCSX CORP	25,007	$1M	0.7%	NEW
56	CWCURTISS WRIGHT CORP	1,462	$995,797	0.7%	TRIM −22%
57	COSTCOSTCO WHSL CORP NEW	982	$978,494	0.7%	TRIM −35%
58	SXTSENSIENT TECHNOLOGIES CORP	11,005	$951,272	0.6%	TRIM −49%
59	TECHBIO-TECHNE CORP	17,936	$937,335	0.6%	ADD 16%
60	APHAMPHENOL CORP	7,100	$897,085	0.6%	TRIM −76%
61	VLTOVERALTO CORP	9,947	$879,514	0.6%	TRIM −7%
62	COHRCOHERENT CORP	3,651	$869,705	0.6%	TRIM −52%
63	HSYHERSHEY CO	4,168	$866,486	0.6%	NEW
64	CRHCRH PLC	8,192	$861,143	0.6%	TRIM −61%
65	BHPBHP BILLITON LIMITED	11,810	$859,059	0.6%	TRIM −75%
66	SPXCSPX TECHNOLOGIES INC	4,295	$858,742	0.6%	TRIM −35%
67	VMIVALMONT INDS INC	2,144	$856,678	0.6%	TRIM −47%
68	CTOSCUSTOM TRUCK ONE SOURCE INC	123,281	$809,956	0.6%	TRIM −34%
69	AEISADVANCED ENERGY INDS	2,500	$806,775	0.5%	NEW
70	AMDADVANCED MICRO DEVICES INC	3,950	$803,549	0.5%	NEW
71	VIAVVIAVI SOLUTIONS INC	23,525	$782,912	0.5%	NEW
72	ETNEATON CORP PLC	2,153	$770,064	0.5%	TRIM −41%
73	CAVACAVA GROUP INC	9,150	$740,235	0.5%	NEW
74	TSEMTOWER SEMICONDUCTOR LTD	4,100	$719,468	0.5%	NEW
75	ROKROCKWELL AUTOMATION INC	1,973	$708,070	0.5%	TRIM −51%
76	AERAERCAP HOLDINGS NV	5,055	$693,445	0.5%	TRIM −30%
77	CATCATERPILLAR INC	965	$683,664	0.5%	TRIM −33%
78	DYDYCOM INDS INC	1,999	$677,301	0.5%	TRIM −76%
79	KRMNKARMAN HLDGS INC	8,450	$676,423	0.5%	NEW
80	DECKDECKERS OUTDOOR CORP	6,673	$667,901	0.5%	NEW
81	GOOGALPHABET INC	2,097	$601,545	0.4%	TRIM −85%
82	INFQINFLEQTION INC	60,792	$596,370	0.4%	NEW
83	NOCNORTHROP GRUMMAN CORP	825	$562,848	0.4%	TRIM −32%
84	TLNTALEN ENERGY CORP	1,760	$561,845	0.4%	TRIM −70%
85	JBLJabil Circuit, Inc.	2,028	$538,698	0.4%	TRIM −67%
86	CBRECBRE GROUP INC	3,899	$528,159	0.4%	TRIM −70%
87	LITELUMENTUM HLDGS INC	750	$527,070	0.4%	NEW
88	UECURANIUM ENERGY CORP	39,008	$526,608	0.4%	TRIM −22%
89	MRVLMARVELL TECHNOLOGY INC	5,199	$514,961	0.3%	NEW
90	KLACKLA CORP	320	$471,171	0.3%	NEW
91	ABNBAIRBNB INC	3,567	$450,441	0.3%	TRIM −62%
92	BEBLOOM ENERGY CORP	3,063	$415,006	0.3%	NEW
93	MIRMIRION TECHNOLOGIES INC	18,982	$352,875	0.2%	ADD 25%
94	ENTGENTEGRIS INC	2,902	$340,230	0.2%	NEW
95	LEUCENTRUS ENERGY CORP	1,942	$337,112	0.2%	TRIM −46%
96	AXONAXON ENTERPRISE INC	730	$310,024	0.2%	TRIM −75%
97	RDDTREDDIT INC	2,212	$297,846	0.2%	NEW
98	SOLSSOLSTICE ADVANCED MATLS INC	3,337	$254,146	0.2%	NEW
99	KTOSKRATOS DEFENSE & SEC SOLUTIO	3,237	$228,241	0.2%	TRIM −78%
100	HOODROBINHOOD MKTS INC	2,888	$200,138	0.1%	NEW

Position trends· top 15 holdings · shares held over 6 quarters

green added · red trimmed

Security

2024-Q4

2025-Q1

2025-Q2

2025-Q3

2025-Q4

2026-Q1

Latest value

KEYSKEYSIGHT TECHNOLOGIES INC

35K

30K

36K

50K

33K

$9M

TKOTKO GROUP HOLDINGS INC

72K

41K

40K

61K

45K

32K

$7M

MSGSMADISON SQUARE GRDN SPRT COR

—

18K

15K

20K

16K

$5M

EGPEASTGROUP PPTYS INC

—

21K

22K

18K

24K

26K

$5M

PLDPROLOGIS INC.

23K

27K

46K

33K

$4M

MSGEMADISON SQUARE GARDEN ENTMT

—

46K

29K

60K

72K

$4M

TSMTAIWAN SEMICONDUCTOR MFG LTD

—

16K

18K

10K

$4M

CLHCLEAN HARBORS INC

28K

17K

—

11K

$3M

DGXQUEST DIAGNOSTICS INC

—

20K

—

15K

$3M

RLRALPH LAUREN CORP

—

15K

—

$3M

GLWCORNING INC

193K

147K

179K

168K

113K

20K

$3M

FORFORESTAR GROUP INC

—

50K

105K

111K

$3M

LYVLIVE NATION ENTERTAINMENT IN

43K

36K

21K

15K

16K

$2M

ADIANALOG DEVICES INC

12K

—

$2M

DHRDANAHER CORP DEL

—

14K

12K

$2M

Shares reported each quarter by the largest current holdings. Green = added vs the prior filing of that name, red = trimmed, grey = roughly held; a dash is a quarter with no 13F on file (a gap is skipped, not read as an exit). 13F is filed up to 45 days after quarter-end. Up to 40 quarters (10 years) available — use the selector above.

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