# EDGAR Filing Document

**Accession Number:** 0001000742
**File Stem:** 0001140361-23-006917
**Filing Date:** 2023-2
**Character Count:** 12656
**Document Hash:** adc2da1e0d8a1f717dcee95b0eac0952
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001140361-23-006917.hdr.sgml**: 20230214

**ACCESSION NUMBER**: 0001140361-23-006917

**CONFORMED SUBMISSION TYPE**: 13F-HR

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20221231

**FILED AS OF DATE**: 20230214

**DATE AS OF CHANGE**: 20230214

**EFFECTIVENESS DATE**: 20230214

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** SANDLER CAPITAL MANAGEMENT
- **CENTRAL INDEX KEY:** 0001000742
- **IRS NUMBER:** 112792496
- **STATE OF INCORPORATION:** NY
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 13F-HR
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-06285
- **FILM NUMBER:** 23628426

**BUSINESS ADDRESS:**
- **STREET 1:** 711 FIFTH AVENUE
- **STREET 2:** 5TH FL
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10022
- **BUSINESS PHONE:** 2127548100

**MAIL ADDRESS:**
- **STREET 1:** 711 FIFTH AVENUE
- **STREET 2:** 5TH FL
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10022

### FORM 13F COVER PAGE

**Report for the Calendar Year or Quarter Ended:** 12-31-2022

**Check here if Amendment** [ ] **Amendment Number:** 

**This Amendment (Check only one.):** [ ] is a restatement.

[ ] adds new holdings entries.

**Institutional Investment Manager Filing this Report:**

**Name:** SANDLER CAPITAL MANAGEMENT<br>**Address:** 711 FIFTH AVENUE<br>5TH FL<br>NEW YORK, NY 10022

**Form 13F File Number:** 028-06285

The institutional investment manager filing this report and the person by whom it is signed hereby represent that the person signing the report is authorized to submit it, that all information contained herein is true, correct and complete, and that it is understood that all required items, statements, schedules, lists, and tables, are considered integral parts of this form.

**Person Signing this Report on Behalf of Reporting Manager:**

**Name:** Andrew Sandler<br>**Title:** Managing Director<br>**Phone:** 212-754-8100

**Signature, Place, and Date of Signing:**

/s/ Andrew Sandler  New York, NY  02-14-2023<br>[Signature]  [City, State]  [Date]

**Report Type (Check only one.):**

[x] **13F HOLDINGS REPORT.** (Check here if all holdings of this reporting manager are reported in this report.)

[ ] **13F NOTICE.** (Check here if no holdings are reported in this report, and all holdings are reported by other reporting manager(s).)

[ ] **13F COMBINATION REPORT.** (Check here if a portion of the holdings for this reporting manager are reported in this report and a portion are reported by other reporting manager(s).)

### Form 13F Summary Page

**Report Summary:**

**Number of Other Included Managers:** 0

**Form 13F Information Table Entry Total:** 91

**Form 13F Information Table Value Total:** $975722761

      (round to nearest dollar)

**List of Other Included Managers:**

Provide a numbered list of the name(s) and Form 13F file number(s) of all institutional investment managers with respect to which this report is filed, other than the manager filing this report.

[If there are no entries in this list, state “NONE” and omit the column headings and list entries.]

**NONE**

### FORM 13F INFORMATION TABLE

---

|  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | FIGI | VALUE (x$1000) | SHRS OR PRN AMT | SH/PRN | PUT/CALL | INVESTMENT DISCRETION | OTHER MANAGER | VOTING AUTHORITY | VOTING AUTHORITY | VOTING AUTHORITY |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | FIGI | VALUE (x$1000) | SHRS OR PRN AMT | SH/PRN | PUT/CALL | INVESTMENT DISCRETION | OTHER MANAGER | SOLE | SHARED | NONE |
| ADVANCED MICRO DEVICES INC | COM | 007903107 |  | 6763089 | 104417 | SH |  | SOLE |  | 104417 | 0 | 0 |
| AECOM | COM | 00766T100 |  | 8217147 | 96752 | SH |  | SOLE |  | 96752 | 0 | 0 |
| AFFIRM HLDGS INC | COM CL A | 00827B106 |  | 2417500 | 250000 | SH | Put | SOLE |  | 250000 | 0 | 0 |
| AGILENT TECHNOLOGIES INC | COM | 00846U101 |  | 16341780 | 109200 | SH |  | SOLE |  | 109200 | 0 | 0 |
| ALTICE USA INC | CL A | 02156K103 |  | 1849660 | 402100 | SH | Put | SOLE |  | 402100 | 0 | 0 |
| AMC ENTMT HLDGS INC | CL A COM | 00165C104 |  | 2035000 | 500000 | SH | Put | SOLE |  | 500000 | 0 | 0 |
| AMN HEALTHCARE SVCS INC | COM | 001744101 |  | 22129023 | 215221 | SH |  | SOLE |  | 215221 | 0 | 0 |
| ANALOG DEVICES INC | COM | 032654105 |  | 11482100 | 70000 | SH |  | SOLE |  | 70000 | 0 | 0 |
| ARCH RESOURCES INC | CL A | 03940R107 |  | 913856 | 6400 | SH |  | SOLE |  | 6400 | 0 | 0 |
| ASTRAZENECA PLC | SPONSORED ADR | 046353108 |  | 271200 | 4000 | SH |  | SOLE |  | 4000 | 0 | 0 |
| B  G FOODS INC NEW | COM | 05508R106 |  | 5575000 | 500000 | SH | Put | SOLE |  | 500000 | 0 | 0 |
| BECTON DICKINSON  CO | COM | 075887109 |  | 230142 | 905 | SH |  | SOLE |  | 905 | 0 | 0 |
| BIO-TECHNE CORP | COM | 09073M104 |  | 14195686 | 171280 | SH |  | SOLE |  | 171280 | 0 | 0 |
| BLOCK INC | CL A | 852234103 |  | 10682800 | 170000 | SH | Call | SOLE |  | 170000 | 0 | 0 |
| BROADCOM INC | COM | 11135F101 |  | 234275 | 419 | SH |  | SOLE |  | 419 | 0 | 0 |
| CADENCE DESIGN SYSTEM INC | COM | 127387108 |  | 3687973 | 22958 | SH |  | SOLE |  | 22958 | 0 | 0 |
| CAE INC | COM | 124765108 |  | 19544946 | 1010597 | SH |  | SOLE |  | 1010597 | 0 | 0 |
| CHARLES RIV LABS INTL INC | COM | 159864107 |  | 26453060 | 121400 | SH |  | SOLE |  | 121400 | 0 | 0 |
| CLEAN HARBORS INC | COM | 184496107 |  | 20301948 | 177900 | SH |  | SOLE |  | 177900 | 0 | 0 |
| COINBASE GLOBAL INC | COM CL A | 19260Q107 |  | 18402800 | 520000 | SH | Put | SOLE |  | 520000 | 0 | 0 |
| COUPA SOFTWARE INC | COM | 22266L106 |  | 21421185 | 270572 | SH |  | SOLE |  | 270572 | 0 | 0 |
| COUPA SOFTWARE INC | COM | 22266L106 |  | 39585000 | 500000 | SH | Call | SOLE |  | 500000 | 0 | 0 |
| D R HORTON INC | COM | 23331A109 |  | 12221094 | 137100 | SH |  | SOLE |  | 137100 | 0 | 0 |
| DATADOG INC | CL A COM | 23804L103 |  | 3616274 | 49201 | SH |  | SOLE |  | 49201 | 0 | 0 |
| DIGITAL WORLD ACQUISITION CO | CLASS A COM | 25400Q105 |  | 6000000 | 400000 | SH | Put | SOLE |  | 400000 | 0 | 0 |
| DXC TECHNOLOGY CO | COM | 23355L106 |  | 10600000 | 400000 | SH | Put | SOLE |  | 400000 | 0 | 0 |
| EATON CORP PLC | SHS | G29183103 |  | 28999338 | 184768 | SH |  | SOLE |  | 184768 | 0 | 0 |
| ELEVANCE HEALTH INC | NOTE 2.750%10/1 | 94973VBG1 |  | 731270 | 100000 | PRN |  | SOLE |  | 100000 | 0 | 0 |
| EMPIRE ST RLTY TR INC | CL A | 292104106 |  | 4677560 | 694000 | SH | Put | SOLE |  | 694000 | 0 | 0 |
| ENPHASE ENERGY INC | COM | 29355A107 |  | 2649600 | 10000 | SH |  | SOLE |  | 10000 | 0 | 0 |
| EXPONENT INC | COM | 30214U102 |  | 7605653 | 76755 | SH |  | SOLE |  | 76755 | 0 | 0 |
| FAIR ISAAC CORP | COM | 303250104 |  | 14780137 | 24692 | SH |  | SOLE |  | 24692 | 0 | 0 |
| FIRST INDL RLTY TR INC | COM | 32054K103 |  | 217170 | 4500 | SH |  | SOLE |  | 4500 | 0 | 0 |
| FISERV INC | COM | 337738108 |  | 267836 | 2650 | SH |  | SOLE |  | 2650 | 0 | 0 |
| FOUR CORNERS PPTY TR INC | COM | 35086T109 |  | 225591 | 8700 | SH |  | SOLE |  | 8700 | 0 | 0 |
| FRANKLIN RESOURCES INC | COM | 354613101 |  | 15353160 | 582000 | SH | Put | SOLE |  | 582000 | 0 | 0 |
| GAMESTOP CORP NEW | CL A | 36467W109 |  | 11076000 | 600000 | SH | Call | SOLE |  | 600000 | 0 | 0 |
| GAMESTOP CORP NEW | CL A | 36467W109 |  | 23998000 | 1300000 | SH | Put | SOLE |  | 1300000 | 0 | 0 |
| GAMING  LEISURE PPTYS INC | COM | 36467J108 |  | 239614 | 4600 | SH |  | SOLE |  | 4600 | 0 | 0 |
| GOGO INC | COM | 38046C109 |  | 11840472 | 802200 | SH | Put | SOLE |  | 802200 | 0 | 0 |
| HOLOGIC INC | COM | 436440101 |  | 21679938 | 289800 | SH |  | SOLE |  | 289800 | 0 | 0 |
| HUBBELL INC | COM | 443510607 |  | 40152575 | 171095 | SH |  | SOLE |  | 171095 | 0 | 0 |
| IMAX CORP | COM | 45245E109 |  | 4691200 | 320000 | SH |  | SOLE |  | 320000 | 0 | 0 |
| INMODE LTD | SHS | M5425M103 |  | 10732777 | 300638 | SH |  | SOLE |  | 300638 | 0 | 0 |
| INTUITIVE SURGICAL INC | COM NEW | 46120E602 |  | 14073899 | 53039 | SH |  | SOLE |  | 53039 | 0 | 0 |
| JETBLUE AIRWAYS CORP | NOTE 0.500% 4/0 | 477143AP6 |  | 364540 | 500000 | PRN |  | SOLE |  | 500000 | 0 | 0 |
| LEMONADE INC | COM | 52567D107 |  | 4104000 | 300000 | SH | Put | SOLE |  | 300000 | 0 | 0 |
| LENNAR CORP | CL A | 526057104 |  | 15918950 | 175900 | SH |  | SOLE |  | 175900 | 0 | 0 |
| LIBERTY MEDIA CORP DEL | COM SER C FRMLA | 531229854 |  | 34714784 | 580709 | SH |  | SOLE |  | 580709 | 0 | 0 |
| LIVE NATION ENTERTAINMENT IN | COM | 538034109 |  | 13975896 | 200400 | SH | Call | SOLE |  | 200400 | 0 | 0 |
| LUCID GROUP INC | COM | 549498103 |  | 2732000 | 400000 | SH | Call | SOLE |  | 400000 | 0 | 0 |
| MARTIN MARIETTA MATLS INC | COM | 573284106 |  | 22801484 | 67466 | SH |  | SOLE |  | 67466 | 0 | 0 |
| MARVELL TECHNOLOGY INC | COM | 573874104 |  | 11852800 | 320000 | SH | Call | SOLE |  | 320000 | 0 | 0 |
| MASTERCARD INCORPORATED | CL A | 57636Q104 |  | 21233089 | 61062 | SH |  | SOLE |  | 61062 | 0 | 0 |
| MEDICAL PPTYS TRUST INC | COM | 58463J304 |  | 189380 | 17000 | SH |  | SOLE |  | 17000 | 0 | 0 |
| MONTROSE ENVIRONMENTAL GROUP | COM | 615111101 |  | 10409499 | 234501 | SH |  | SOLE |  | 234501 | 0 | 0 |
| MP MATERIALS CORP | COM CL A | 553368101 |  | 16146200 | 665000 | SH | Call | SOLE |  | 665000 | 0 | 0 |
| NIO INC | SPON ADS | 62914V106 |  | 2925000 | 300000 | SH | Put | SOLE |  | 300000 | 0 | 0 |
| NOVANTA INC | COM | 67000B104 |  | 8577745 | 63132 | SH |  | SOLE |  | 63132 | 0 | 0 |
| NV5 GLOBAL INC | COM | 62945V109 |  | 6044642 | 45682 | SH |  | SOLE |  | 45682 | 0 | 0 |
| NVIDIA CORPORATION | COM | 67066G104 |  | 16411522 | 112300 | SH |  | SOLE |  | 112300 | 0 | 0 |
| NXP SEMICONDUCTORS N V | COM | N6596X109 |  | 9086725 | 57500 | SH |  | SOLE |  | 57500 | 0 | 0 |
| ON HLDG AG | NAMEN AKT A | H5919C104 |  | 10296000 | 600000 | SH | Call | SOLE |  | 600000 | 0 | 0 |
| ON SEMICONDUCTOR CORP | COM | 682189105 |  | 4041451 | 64798 | SH |  | SOLE |  | 64798 | 0 | 0 |
| ON SEMICONDUCTOR CORP | NOTE 1.625%10/1 | 682189AP0 |  | 600300 | 200000 | PRN |  | SOLE |  | 200000 | 0 | 0 |
| PARAMOUNT GLOBAL | CLASS B COM | 92556H206 |  | 18568000 | 1100000 | SH | Put | SOLE |  | 1100000 | 0 | 0 |
| PEPSICO INC | COM | 713448108 |  | 13561243 | 75065 | SH |  | SOLE |  | 75065 | 0 | 0 |
| PFIZER INC | COM | 717081103 |  | 266448 | 5200 | SH |  | SOLE |  | 5200 | 0 | 0 |
| PROLOGIS INC. | COM | 74340W103 |  | 214187 | 1900 | SH |  | SOLE |  | 1900 | 0 | 0 |
| PURE STORAGE INC | CL A | 74624M102 |  | 5298480 | 198000 | SH |  | SOLE |  | 198000 | 0 | 0 |
| QUALCOMM INC | COM | 747525103 |  | 208886 | 1900 | SH |  | SOLE |  | 1900 | 0 | 0 |
| REDFIN CORP | COM | 75737F108 |  | 1908000 | 450000 | SH | Call | SOLE |  | 450000 | 0 | 0 |
| ROBINHOOD MKTS INC | COM CL A | 770700102 |  | 8140000 | 1000000 | SH | Put | SOLE |  | 1000000 | 0 | 0 |
| ROCKWELL AUTOMATION INC | COM | 773903109 |  | 14281999 | 55449 | SH |  | SOLE |  | 55449 | 0 | 0 |
| SILVERGATE CAP CORP | CL A | 82837P408 |  | 13398000 | 770000 | SH | Put | SOLE |  | 770000 | 0 | 0 |
| SONOS INC | COM | 83570H108 |  | 8450000 | 500000 | SH | Call | SOLE |  | 500000 | 0 | 0 |
| SPLUNK INC | NOTE 1.125% 6/1 | 848637AF1 |  | 421900 | 500000 | PRN |  | SOLE |  | 500000 | 0 | 0 |
| SYNOPSYS INC | COM | 871607107 |  | 23444507 | 73427 | SH |  | SOLE |  | 73427 | 0 | 0 |
| TECK RESOURCES LTD | CL B | 878742204 |  | 283650 | 7500 | SH |  | SOLE |  | 7500 | 0 | 0 |
| TELEDYNE TECHNOLOGIES INC | COM | 879360105 |  | 9437476 | 23599 | SH |  | SOLE |  | 23599 | 0 | 0 |
| TETRA TECH INC NEW | COM | 88162G103 |  | 24422120 | 168208 | SH |  | SOLE |  | 168208 | 0 | 0 |
| UNITED RENTALS INC | COM | 911363109 |  | 14164553 | 39853 | SH |  | SOLE |  | 39853 | 0 | 0 |
| UPSTART HLDGS INC | COM | 91680M107 |  | 7914814 | 598700 | SH | Put | SOLE |  | 598700 | 0 | 0 |
| VIRGIN GALACTIC HOLDINGS INC | COM | 92766K106 |  | 3617460 | 1039500 | SH | Put | SOLE |  | 1039500 | 0 | 0 |
| VISA INC | COM CL A | 92826C839 |  | 24126961 | 116129 | SH |  | SOLE |  | 116129 | 0 | 0 |
| VULCAN MATLS CO | COM | 929160109 |  | 26406588 | 150800 | SH |  | SOLE |  | 150800 | 0 | 0 |
| W  T OFFSHORE INC | COM | 92922P106 |  | 279000 | 50000 | SH |  | SOLE |  | 50000 | 0 | 0 |
| WASTE MGMT INC DEL | COM | 94106L109 |  | 3106067 | 19799 | SH |  | SOLE |  | 19799 | 0 | 0 |
| WATERS CORP | COM | 941848103 |  | 8172588 | 23856 | SH |  | SOLE |  | 23856 | 0 | 0 |
| WINNEBAGO INDS INC | COM | 974637100 |  | 10540000 | 200000 | SH | Put | SOLE |  | 200000 | 0 | 0 |
| YUM CHINA HLDGS INC | COM | 98850P109 |  | 23499500 | 430000 | SH | Put | SOLE |  | 430000 | 0 | 0 |

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