SA
Sandell Asset Management Corp. Historical SEC 13F Holdings & Archive (Q3 2020)
Sandell Asset Management Corp.CIK: 0001140474
Momentum followerQuality / disciplined sizingDiversified strategy
Total reported value
$178.7M
Reporting period: 2020-09-30 · Number of holdings: 30
Sandell Asset Management Corp. disclosed 30 holdings in its latest 13F filing for the period ending 2020-09-30, with total reported value of $178.7M and a quarterly turnover rate of 54.8%.
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Personality snowflake
- Concentration
- 34.53
- Portfolio Stability
- 54.76
- Momentum
- 100
- Sector conviction
- 63.82
- Diversification
- 56
- Sizing Uniformity
- 87.88
Sandell Asset Management Corp.'s disclosed holdings carry a Herfindahl concentration index of 0.086 — mathematically equivalent to about 12 equally-sized positions, well below its 30 actual disclosed holdings. That gap points to a strategy built around a small core of high-conviction bets rather than broad diversification.
Position sizes vary widely across the portfolio (a coefficient of variation of 1.21), with a handful of outsized bets alongside many smaller positions.
Recent activity leans toward adding more aggressively to already-large existing positions than to newly initiated ones (a 2.2 percentage-point tilt) — a pattern consistent with a momentum-following approach.
Source and citation information
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Recent moves
View source Form 13F filing on SEC.govAdd DHR
0.0% $7.1M
Add AAPL
+300.0% $3.3M
Add AMZN
0.0% $1.9M
Add MSFT
0.0% $425.0K
Add DIS
0.0% $1.0M
Add META
0.0% $1.1M
Holdings Map
New buyAddUnchangedTrim
Top 10 holdings by weight
Full holdings list this quarter
Showing top 28 holdings (of 30 total)
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | DHR | Danaher CORP | Stock-Healthcare | 22.30% | +9.21% | — | |
| 2 | AAPL | Apple Inc | Stock-Tech | 8.63% | +3.77% | +300.00% | |
| 3 | AMZN | Amazon.com Inc | Stock-Consumer Disc | 8.40% | +3.14% | — | |
| 4 | MSFT | Microsoft CORP | Stock-Tech | 7.33% | +2.26% | — | |
| 5 | DIS | Walt Disney Co/the | Stock-Comm Services | 5.59% | +2.00% | — | |
| 6 | META | Meta Platforms Inc-class A | Stock-Comm Services | 4.78% | +1.82% | — | |
| 7 | GOOG | Alphabet Inc-cl C | Stock-Comm Services | 4.33% | +1.35% | — | |
| 8 | GLD | Spdr Gold Shares | ETF-Commodities | 3.76% | +1.73% | +25.08% | |
| 9 | DISH 3.375 08-15-26Bond | Dish Network CORP | Bond | 3.62% | -0.08% | -30.00% | |
| 10 | BRK-B | Berkshire Hathaway Inc-cl B | Stock-Other | 3.50% | +1.40% | — | |
| 11 | PYPL | Paypal Holdings Inc | Stock-Financials | 2.97% | +1.09% | — | |
| 12 | NAV | Navistar International CORP | Stock-Other | 2.77% | +1.49% | — | |
| 13 | MANU | Manchester United plc | Stock-Other | 2.60% | +1.02% | +28.00% | |
| 14 | VOD | Vodafone Group Plc-sp Adr | Stock-Comm Services | 2.14% | +0.55% | +14.00% | |
| 15 | MA | Mastercard Inc - A | Stock-Financials | 2.08% | +0.78% | — | |
| 16 | OLN | Olin CORP | Stock-Materials | 1.96% | +0.35% | -19.30% | |
| 17 | V | Visa Inc-class A Shares | Stock-Financials | 1.89% | +0.58% | — | |
| 18 | FIS | Fidelity National Info Serv | Stock-Tech | 1.81% | +0.63% | — | |
| 19 | VRT | Vertiv Holdings Co-a | Stock-Industrials | 1.75% | +0.56% | -18.18% | |
| 20 | KRAUSD | Kraton CORP | Stock-Other | 1.70% | -0.12% | -35.48% | |
| 21 | WH | Wyndham Hotels & Resorts Inc | Stock-Consumer Disc | 1.40% | +0.56% | — | |
| 22 | DAL | Delta Air Lines Inc | Stock-Industrials | 1.37% | +0.47% | — | |
| 23 | AD | Array Digital Infrastructure | Stock-Other | 0.89% | +0.22% | — | |
| 24 | DAN | Dana Inc | Stock-Other | 0.88% | +0.26% | — | |
| 25 | IDNA | Ishares Gen-immunology Hlth | ETF-Other | 0.76% | +0.23% | — | |
| 26 | LM03 | Liberty Media Cor-siriusxm A | Stock-Other | 0.43% | +0.11% | — | |
| 27 | DCH | Dauch Corporation | Stock-Other | 0.32% | +0.32% | NEW | |
| 28 | LSXMKUSD | Liberty Media Cor-siriusxm C | Stock-Other | 0.04% | +0.01% | — |
Reported value over time
Sector allocation
Sector allocation over time
Quarterly history
| Period | Holdings | Total value | Stability | Top holdings | |
|---|---|---|---|---|---|
| 2020 Q3 | 30 | $178.7M | 55 | ||
| 2020 Q2 | 52 | $249.9M | 100 | ||
| 2020 Q1 | 59 | $459.1M | 100 | ||
| 2019 Q4 | 50 | $618.2M | 100 | ||
| 2019 Q3 | 40 | $297.5M | 100 | ||
| 2019 Q2 | 41 | $883.1M | 100 | ||
| 2019 Q1 | 41 | $564.9M | 100 | ||
| 2018 Q4 | 44 | $905.0M | 86 | ||
| 2018 Q3 | 42 | $1.3B | 79 | ||
| 2018 Q2 | 43 | $1.7B | 100 | ||
| 2018 Q1 | 42 | $896.3M | 100 | ||
| 2017 Q4 | 35 | $752.2M | 80 | ||
| 2017 Q3 | 38 | $873.7M | 91 | ||
| 2017 Q2 | 28 | $402.9M | 100 | ||
| 2017 Q1 | 23 | $421.9M | 70 | ||
| 2016 Q4 | 19 | $365.8M | 85 | ||
| 2016 Q3 | 21 | $379.7M | 56 | ||
| 2016 Q2 | 29 | $451.2M | 100 | ||
| 2016 Q1 | 22 | $421.0M | 86 | ||
| 2015 Q4 | 25 | $362.6M | 100 | ||
| 2015 Q3 | 37 | $644.7M | 85 | ||
| 2015 Q2 | 44 | $942.5M | 96 | ||
| 2015 Q1 | 38 | $1.0B | 86 | ||
| 2014 Q4 | 37 | $1.0B | 84 | ||
| 2014 Q3 | 39 | $938.2M | 86 | ||
| 2014 Q2 | 32 | $542.5M | 45 | ||
| 2014 Q1 | 30 | $615.3M | 80 | ||
| 2013 Q4 | 30 | $497.3M | 82 | ||
| 2013 Q3 | 33 | $576.3M | 78 | ||
| 2013 Q2 | 35 | $598.2M | 0 |
Holding changes this quarter
Sandell Asset Management Corp.'s most significant position changes for 2020-09-30: Sold out: Electronic Arts Inc (EA); Sold out: Xperi Inc. (XPER); Sold out: Activision Blizzard Inc (ATVIEUR); Sold out: Taubman Centers Inc (TCO); Sold out: Take-two Interactive Softwre (TTWO).
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | DHR | Danaher CORP | +9.2% | — | Unchanged |
| 2 | AAPL | Apple Inc | +3.8% | +300.00% | Add |
| 3 | AMZN | Amazon.com Inc | +3.1% | — | Unchanged |
| 4 | MSFT | Microsoft CORP | +2.3% | — | Unchanged |
| 5 | DIS | Walt Disney Co/the | +2% | — | Unchanged |
| 6 | META | Meta Platforms Inc-class A | +1.8% | — | Unchanged |
| 7 | GLD | Spdr Gold Shares | +1.7% | +25.08% | Add |
| 8 | NAV | Navistar International CORP | +1.5% | — | Unchanged |
| 9 | BRK-B | Berkshire Hathaway Inc-cl B | +1.4% | — | Unchanged |
| 10 | GOOG | Alphabet Inc-cl C | +1.4% | — | Unchanged |
| 11 | PYPL | Paypal Holdings Inc | +1.1% | — | Unchanged |
| 12 | MANU | Manchester United plc | +1% | +28.00% | Add |
| 13 | MA | Mastercard Inc - A | +0.8% | — | Unchanged |
| 14 | FIS | Fidelity National Info Serv | +0.6% | — | Unchanged |
| 15 | V | Visa Inc-class A Shares | +0.6% | — | Unchanged |
| 16 | WH | Wyndham Hotels & Resorts Inc | +0.6% | — | Unchanged |
| 17 | VRT | Vertiv Holdings Co-a | +0.6% | -18.18% | Trim |
| 18 | VOD | Vodafone Group Plc-sp Adr | +0.6% | +14.00% | Add |
| 19 | DAL | Delta Air Lines Inc | +0.5% | — | Unchanged |
| 20 | OLN | Olin CORP | +0.4% | -19.30% | Trim |
| 21 | DAN | Dana Inc | +0.3% | — | Unchanged |
| 22 | IDNA | Ishares Gen-immunology Hlth | +0.2% | — | Unchanged |
| 23 | AD | Array Digital Infrastructure | +0.2% | — | Unchanged |
| 24 | LM03 | Liberty Media Cor-siriusxm A | +0.1% | — | Unchanged |
| 25 | LSXMKUSD | Liberty Media Cor-siriusxm C | 0% | — | Unchanged |
| 26 | DISH 3.375 08-15-26Bond | Dish Network CORP | -0.1% | -30.00% | Trim |
| 27 | KRAUSD | Kraton CORP | -0.1% | -35.48% | Trim |
| 28 | EA | Electronic Arts Inc | — | EXIT | Sold out |
| 29 | XPER | Xperi Inc. | — | EXIT | Sold out |
| 30 | ATVIEUR | Activision Blizzard Inc | — | EXIT | Sold out |
| 31 | TCO | Taubman Centers Inc | — | EXIT | Sold out |
| 32 | TTWO | Take-two Interactive Softwre | — | EXIT | Sold out |
| 33 | TGNA | Tegna Inc | — | EXIT | Sold out |
| 34 | MAXRUSD | Maxar Technologies Inc | — | EXIT | Sold out |
| 35 | ✓ | Delphi Technologies PLC | — | EXIT | Sold out |
| 36 | LOGMEUR | Logmein Inc | — | EXIT | Sold out |
| 37 | QGEN | Qiagen N.V. | — | EXIT | Sold out |
| 38 | CZREUR | Caesars Entertainment CORP | — | EXIT | Sold out |
| 39 | ✓ | Wright Medical Group NV | — | EXIT | Sold out |
| 40 | MTOR 3.25 10-15-37Bond | Meritor Inc | — | EXIT | Sold out |
| 41 | GOGO | Gogo Inc | — | EXIT | Sold out |
| 42 | FITEUR | Fitbit Inc - A | — | EXIT | Sold out |
| 43 | BCBUSD | Primo Water CORP | — | EXIT | Sold out |
| 44 | CCXX-U | Churchill Capital CORP Iii | — | EXIT | Sold out |
| 45 | DCH | Dauch Corporation | — | NEW | New buy |
| 46 | 2663134D | Bitauto Holdings Ltd-adr | — | EXIT | Sold out |
Filing History
FAQ
What is Sandell Asset Management Corp. and what type of investor is it?
Sandell Asset Management Corp. is an investment manager that files SEC Form 13F quarterly, disclosing its U.S. public equity holdings to regulators. As of the most recent reporting period (2020-09-30), the firm manages a tracked equity portfolio valued at approximately $178.7M, spread across 30 disclosed positions.
What are Sandell Asset Management Corp.'s largest equity positions?
Based on the latest 13F filing, Sandell Asset Management Corp.'s top holdings by market value are:
1. Danaher CORP (DHR) — $39.8M (22.3%)
2. Apple Inc (AAPL) — $15.4M (8.6%)
3. Amazon.com Inc (AMZN) — $15.0M (8.4%)
4. Microsoft CORP (MSFT) — $13.1M (7.3%)
5. Walt Disney Co/the (DIS) — $10.0M (5.6%)
What changes did Sandell Asset Management Corp. make in its most recent portfolio filing?
In the latest reported quarter, Sandell Asset Management Corp. made 27 notable position adjustments: 1 new positions were initiated, 4 existing holdings were added to, 4 positions were partially reduced, and 18 were completely exited. The largest of these moves: Sold out: Electronic Arts Inc (EA); Sold out: Xperi Inc. (XPER); Sold out: Activision Blizzard Inc (ATVIEUR); Sold out: Taubman Centers Inc (TCO); Sold out: Take-two Interactive Softwre (TTWO)
What sectors does Sandell Asset Management Corp. focus on?
Sandell Asset Management Corp. is concentrated in the following sectors based on its current disclosed equity portfolio:
• Health Care: 30.3%
• Information Technology: 21.7%
• Communication Services: 20.0%
• Financials: 14.2%
• Consumer Discretionary: 11.4%
• Industrials: 2.4%
* This report is exclusively curated by the AlphaSMO team. AlphaSMO is the web's most authoritative 13F / Inside Trader database, delivering precise insider trading and institutional holdings insights.
Investment Profile
Sandell Asset Management Corp.'s portfolio is broadly diversified and moderately active, with 30.3% of the portfolio concentrated in Health Care.
Its turnover score has fallen from 100 to 55 over the past 4 quarters — a shift toward longer holding periods.
It has added to its DHR position for two straight quarters, increasing it by $17.4M to reach $39.8M.
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Developer Access
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