13F-HR 1 a13fhr.txt UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 13F FORM 13F COVER PAGE Report for the Calendar Year or Quarter Ended: December 31, 2012 ------------------- 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 -------------------------------- 711 Fifth Avenue, 15[th] Floor -------------------------------- New York, NY 10022 -------------------------------- Form 13F File Number: 28-06285 ------- 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 ------------------- Title: Managing Director ------------------- Phone: (212) 754-8100 ------------------- Signature, Place, and Date of Signing: /s/ Andrew Sandler New York, NY February 14, 2013 [Signature] [City, State] [Date] [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 reported are 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: 153 ------------- Form 13F Information Table Value Total: 1,954,215 ------------- (thousands) List of Other Included Managers: None 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. None
13F DATA : (12/31/2012) SANDLER (038445508) VALUE SHARES SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY ISSUER TYPE CUSIP X 1000 PRN AMT PRN CALL DISCRETION MANAGERS SOLE SHARED NONE ACUITY BRANDS INC COM 00508Y 10 2 17,481 258,100 SH SOLE 0 258,100 0 0 ACUITY BRANDS INC COM 00508Y 10 2 10,837 160,000 SH PUT SOLE 0 160,000 0 0 ALIGN TECHNOLOGY INC COM 016255 10 1 5,728 206,400 SH SOLE 0 206,400 0 0 ALLSCRIPTS HEALTHCARE SOLUTN COM 01988P 10 8 4,281 454,500 SH PUT SOLE 0 454,500 0 0 ALPHA NATURAL RESOURCES INC COM 02076X 10 2 2,679 275,000 SH CALL SOLE 0 275,000 0 0 AMERICAN CAPITAL AGENCY CORP COM 02503X 10 5 2,037 70,500 SH SOLE 0 70,500 0 0 AMERICAN INTL GROUP INC COM NEW 026874 78 4 17,650 500,000 SH CALL SOLE 0 500,000 0 0 AMERICAN TOWER CORP NEW COM 03027X 10 0 16,173 209,300 SH SOLE 0 209,300 0 0 AMSURG CORP COM 03232P 40 5 7,680 255,900 SH SOLE 0 255,900 0 0 ANSYS INC COM 03662Q 10 5 13,152 195,300 SH SOLE 0 195,300 0 0 AON PLC SHS CL A G0408V 10 2 13,029 234,300 SH SOLE 0 234,300 0 0 ARM HLDGS PLC SPONSORED ADR 042068 10 6 20,455 540,700 SH SOLE 0 540,700 0 0 ASPEN TECHNOLOGY INC COM 045327 10 3 6,686 241,900 SH SOLE 0 241,900 0 0 AUTODESK INC COM 052769 10 6 7,289 206,200 SH SOLE 0 206,200 0 0 AVON PRODS INC COM 054303 10 2 4,308 300,000 SH PUT SOLE 0 300,000 0 0 AZZ INC COM 002474 10 4 16,483 428,900 SH SOLE 0 428,900 0 0 B/E AEROSPACE INC COM 073302 10 1 5,394 109,200 SH SOLE 0 109,200 0 0 BANK OF AMERICA CORPORATION COM 060505 10 4 1,161 100,000 SH SOLE 0 100,000 0 0 BARCLAYS BK PLC 10 YR TREAS BEAR 06740L 45 1 883 33,000 SH SOLE 0 33,000 0 0 BOEING CO COM 097023 10 5 5,599 74,300 SH PUT SOLE 0 74,300 0 0 BRUNSWICK CORP COM 117043 10 9 9,766 335,700 SH SOLE 0 335,700 0 0 CABOT OIL & GAS CORP COM 127097 10 3 12,768 256,700 SH SOLE 0 256,700 0 0 CACI INTL INC CL A 127190 30 4 16,509 300,000 SH PUT SOLE 0 300,000 0 0 CADENCE DESIGN SYSTEM INC COM 127387 10 8 16,066 1,189,200 SH SOLE 0 1,189,200 0 0 CANADIAN PAC RY LTD COM 13645T 10 0 9,664 95,100 SH SOLE 0 95,100 0 0 CARMAX INC COM 143130 10 2 11,262 300,000 SH SOLE 0 300,000 0 0 CEMEX SAB DE CV SPON ADR NEW 151290 88 9 15,792 1,600,000 SH CALL SOLE 0 1,600,000 0 0 CHENIERE ENERGY INC COM NEW 16411R 20 8 8,483 451,700 SH SOLE 0 451,700 0 0 CHESAPEAKE ENERGY CORP COM 165167 10 7 15,024 904,000 SH PUT SOLE 0 904,000 0 0 CHUBB CORP COM 171232 10 1 12,789 169,800 SH SOLE 0 169,800 0 0 CITIGROUP INC *W EXP 01/04/201 172967 22 6 127 300,000 SH SOLE 0 300,000 0 0 CLEAN HARBORS INC COM 184496 10 7 13,764 250,200 SH SOLE 0 250,200 0 0 CLOROX CO DEL COM 189054 10 9 11,935 163,000 SH SOLE 0 163,000 0 0 COACH INC COM 189754 10 4 12,212 220,000 SH PUT SOLE 0 220,000 0 0 COGNEX CORP COM 192422 10 3 7,549 205,200 SH SOLE 0 205,200 0 0 COMMVAULT SYSTEMS INC COM 204166 10 2 14,838 213,000 SH SOLE 0 213,000 0 0 CONSTELLATION BRANDS INC CL A 21036P 10 8 26,543 750,000 SH CALL SOLE 0 750,000 0 0 CORELOGIC INC COM 21871D 10 3 22,290 828,000 SH SOLE 0 828,000 0 0 COSTCO WHSL CORP NEW COM 22160K 10 5 8,264 83,700 SH SOLE 0 83,700 0 0 COVANCE INC COM 222816 10 0 8,307 143,800 SH SOLE 0 143,800 0 0 CROWN CASTLE INTL CORP COM 228227 10 4 16,900 234,200 SH SOLE 0 234,200 0 0 CUMMINS INC COM 231021 10 6 8,137 75,100 SH SOLE 0 75,100 0 0 CVS CAREMARK CORPORATION COM 126650 10 0 19,906 411,700 SH SOLE 0 411,700 0 0 DELEK US HLDGS INC COM 246647 10 1 4,669 184,400 SH SOLE 0 184,400 0 0 DIGITALGLOBE INC COM NEW 25389M 87 7 12,232 500,500 SH SOLE 0 500,500 0 0 DISCOVERY COMMUNICATNS NEW COM SER C 25470F 30 2 15,959 272,800 SH SOLE 0 272,800 0 0 DOMINOS PIZZA INC COM 25754A 20 1 21,826 501,160 SH SOLE 0 501,160 0 0 EAGLE MATERIALS INC COM 26969P 10 8 7,541 128,900 SH SOLE 0 128,900 0 0 EASTMAN CHEM CO COM 277432 10 0 10,037 147,500 SH SOLE 0 147,500 0 0 EBAY INC COM 278642 10 3 30,196 592,100 SH SOLE 0 592,100 0 0 EMCOR GROUP INC COM 29084Q 10 0 16,765 484,400 SH SOLE 0 484,400 0 0 EOG RES INC COM 26875P 10 1 4,856 40,200 SH SOLE 0 40,200 0 0 EQUIFAX INC COM 294429 10 5 6,988 129,120 SH SOLE 0 129,120 0 0 EVERCORE PARTNERS INC CLASS A 29977A 10 5 10,929 362,000 SH SOLE 0 362,000 0 0 FEDEX CORP COM 31428X 10 6 8,723 95,100 SH SOLE 0 95,100 0 0 FEI CO COM 30241L 10 9 55,659 1,003,400 SH SOLE 0 1,003,400 0 0 GANNETT INC COM 364730 10 1 12,607 700,000 SH PUT SOLE 0 700,000 0 0 GENERAC HLDGS INC COM 368736 10 4 42,668 1,243,600 SH SOLE 0 1,243,600 0 0 GENERAL ELECTRIC CO COM 369604 10 3 6,927 330,000 SH CALL SOLE 0 330,000 0 0 GENERAL MLS INC COM 370334 10 4 202 5,000 SH SOLE 0 5,000 0 0 GENERAL MTRS CO COM 37045V 10 0 10,091 350,000 SH CALL SOLE 0 350,000 0 0 GEOSPACE TECHNOLOGIES CORP COM 37364X 10 9 8,843 99,500 SH SOLE 0 99,500 0 0 GNC HLDGS INC COM CL A 36191G 10 7 2,483 74,600 SH SOLE 0 74,600 0 0 GRANITE CONSTR INC COM 387328 10 7 8,079 240,300 SH SOLE 0 240,300 0 0 GREENHILL & CO INC COM 395259 10 4 520 10,000 SH SOLE 0 10,000 0 0 GROUP 1 AUTOMOTIVE INC COM 398905 10 9 2,616 42,200 SH SOLE 0 42,200 0 0 HAWAIIAN TELCOM HOLDCO INC COM 420031 10 6 390 20,000 SH SOLE 0 20,000 0 0 HELEN OF TROY CORP LTD COM G4388N 10 6 9,408 281,500 SH SOLE 0 281,500 0 0 HELMERICH & PAYNE INC COM 423452 10 1 37,342 666,700 SH SOLE 0 666,700 0 0 HEXCEL CORP NEW COM 428291 10 8 9,153 339,500 SH SOLE 0 339,500 0 0 HOLLYFRONTIER CORP COM 436106 10 8 5,102 109,600 SH SOLE 0 109,600 0 0 HOME DEPOT INC COM 437076 10 2 16,118 260,600 SH SOLE 0 260,600 0 0 HUBBELL INC CL B 443510 20 1 16,224 191,700 SH SOLE 0 191,700 0 0 HUNT J B TRANS SVCS INC COM 445658 10 7 27,401 458,900 SH SOLE 0 458,900 0 0 IPG PHOTONICS CORP COM 44980X 10 9 7,578 113,700 SH SOLE 0 113,700 0 0 ISHARES TR RUSSELL 2000 464287 65 5 252,953 3,000,000 SH PUT SOLE 0 3,000,000 0 0 ISHARES TR TRANSP AVE IDX 464287 19 2 24,530 260,000 SH SOLE 0 260,000 0 0 JOS A BANK CLOTHIERS INC COM 480838 10 1 10,645 250,000 SH PUT SOLE 0 250,000 0 0 JPMORGAN CHASE & CO COM 46625H 10 0 994 22,600 SH SOLE 0 22,600 0 0 JUNIPER NETWORKS INC COM 48203R 10 4 6,885 350,000 SH CALL SOLE 0 350,000 0 0 KOHLS CORP COM 500255 10 4 6,447 150,000 SH PUT SOLE 0 150,000 0 0 LANDSTAR SYS INC COM 515098 10 1 3,148 60,000 SH SOLE 0 60,000 0 0 LAZARD LTD SHS A G54050 10 2 6,830 228,900 SH SOLE 0 228,900 0 0 LIFE TECHNOLOGIES CORP COM 53217V 10 9 7,355 150,000 SH PUT SOLE 0 150,000 0 0 LIMITED BRANDS INC COM 532716 10 7 10,866 230,900 SH SOLE 0 230,900 0 0 LINDSAY CORP COM 535555 10 6 4,815 60,100 SH SOLE 0 60,100 0 0 LINKEDIN CORP COM CL A 53578A 10 8 10,012 87,200 SH SOLE 0 87,200 0 0 LITHIA MTRS INC CL A 536797 10 3 1,347 36,000 SH SOLE 0 36,000 0 0 LULULEMON ATHLETICA INC COM 550021 10 9 12,441 163,200 SH SOLE 0 163,200 0 0 LUMBER LIQUIDATORS HLDGS INC COM 55003T 10 7 4,723 89,400 SH SOLE 0 89,400 0 0 MADISON SQUARE GARDEN CO CL A 55826P 10 0 20,865 470,470 SH SOLE 0 470,470 0 0 MAKO SURGICAL CORP COM 560879 10 8 3,855 300,000 SH PUT SOLE 0 300,000 0 0 MASTEC INC COM 576323 10 9 22,746 912,400 SH SOLE 0 912,400 0 0 MENS WEARHOUSE INC COM 587118 10 0 10,906 350,000 SH PUT SOLE 0 350,000 0 0 MENTOR GRAPHICS CORP COM 587200 10 6 11,094 651,800 SH SOLE 0 651,800 0 0 MFA FINANCIAL INC COM 55272X 10 2 1,890 233,000 SH SOLE 0 233,000 0 0 MILLENNIAL MEDIA INC COM 60040N 10 5 2,993 238,900 SH SOLE 0 238,900 0 0 MOHAWK INDS INC COM 608190 10 4 6,333 70,000 SH SOLE 0 70,000 0 0 NATIONAL TECHNICAL SYS INC COM 638104 10 9 8,551 1,112,022 SH SOLE 0 1,112,022 0 0 NIKE INC CL B 654106 10 3 12,823 248,500 SH SOLE 0 248,500 0 0 NORDSON CORP COM 655663 10 2 14,139 224,000 SH SOLE 0 224,000 0 0 NU SKIN ENTERPRISES INC CL A 67018T 10 5 5,558 150,000 SH PUT SOLE 0 150,000 0 0 NXP SEMICONDUCTORS NV COM N6596X 10 9 7,641 290,300 SH SOLE 0 290,300 0 0 OCEANEERING INTL INC COM 675232 10 2 5,508 102,400 SH SOLE 0 102,400 0 0 OPENTABLE INC COM 68372A 10 4 5,856 120,000 SH SOLE 0 120,000 0 0 ORACLE CORP COM 68389X 10 5 12,065 362,100 SH SOLE 0 362,100 0 0 OWENS CORNING NEW COM 690742 10 1 11,386 307,800 SH SOLE 0 307,800 0 0 PALO ALTO NETWORKS INC COM 697435 10 5 14,750 275,600 SH SOLE 0 275,600 0 0 PAREXEL INTL CORP COM 699462 10 7 5,968 201,700 SH SOLE 0 201,700 0 0 PENNYMAC MTG INVT TR COM 70931T 10 3 2,529 100,000 SH SOLE 0 100,000 0 0 PERKINELMER INC COM 714046 10 9 15,867 499,900 SH SOLE 0 499,900 0 0 PRIMUS TELECOMMUNICATIONS GR COM 741929 30 1 4,435 408,000 SH SOLE 0 408,000 0 0 PULTE GROUP INC COM 745867 10 1 12,454 685,800 SH SOLE 0 685,800 0 0 QUALCOMM INC COM 747525 10 3 6,656 107,600 SH SOLE 0 107,600 0 0 QUANTA SVCS INC COM 74762E 10 2 14,911 546,400 SH SOLE 0 546,400 0 0 QUESTCOR PHARMACEUTICALS INC COM 74835Y 10 1 9,352 350,000 SH PUT SOLE 0 350,000 0 0 RANGE RES CORP COM 75281A 10 9 4,957 78,900 SH SOLE 0 78,900 0 0 REDWOOD TR INC COM 758075 40 2 1,968 116,500 SH SOLE 0 116,500 0 0 ROCKWELL AUTOMATION INC COM 773903 10 9 12,473 148,500 SH SOLE 0 148,500 0 0 SAKS INC COM 79377W 10 8 11,561 1,100,000 SH PUT SOLE 0 1,100,000 0 0 SALESFORCE COM INC COM 79466L 30 2 5,026 29,900 SH SOLE 0 29,900 0 0 SANDISK CORP COM 80004C 10 1 7,404 170,200 SH SOLE 0 170,200 0 0 SCRIPPS NETWORKS INTERACT IN CL A COM 811065 10 1 12,713 219,500 SH SOLE 0 219,500 0 0 SELECT SECTOR SPDR TR SBI CONS DISCR 81369Y 40 7 11,926 251,400 SH SOLE 0 251,400 0 0 SMITH A O COM 831865 20 9 5,014 79,500 SH SOLE 0 79,500 0 0 SOLARWINDS INC COM 83416B 10 9 15,709 299,500 SH SOLE 0 299,500 0 0 SPDR SERIES TRUST S&P HOMEBUILD 78464A 88 8 25,310 951,500 SH SOLE 0 951,500 0 0 STARWOOD HOTELS&RESORTS WRLD COM 85590A 40 1 6,252 109,000 SH SOLE 0 109,000 0 0 SYNOPSYS INC COM 871607 10 7 26,108 820,100 SH SOLE 0 820,100 0 0 TANGER FACTORY OUTLET CTRS I COM 875465 10 6 31,139 910,500 SH SOLE 0 910,500 0 0 TERADYNE INC COM 880770 10 2 13,281 786,294 SH SOLE 0 786,294 0 0 TEXAS INDS INC COM 882491 10 3 16,272 319,000 SH SOLE 0 319,000 0 0 THERMON GROUP HLDGS INC COM 88362T 10 3 9,242 410,210 SH SOLE 0 410,210 0 0 TJX COS INC NEW COM 872540 10 9 5,391 127,000 SH SOLE 0 127,000 0 0 TRAVELERS COMPANIES INC COM 89417E 10 9 15,118 210,500 SH SOLE 0 210,500 0 0 TRIPADVISOR INC COM 896945 20 1 4,276 102,000 SH SOLE 0 102,000 0 0 TRONOX LTD SHS CL A Q9235V 10 1 1,414 77,500 SH SOLE 0 77,500 0 0 TWO HBRS INVT CORP COM 90187B 10 1 1,999 180,375 SH SOLE 0 180,375 0 0 UNILEVER PLC SPON ADR NEW 904767 70 4 23,731 612,900 SH SOLE 0 612,900 0 0 UNITED STATES STL CORP NEW COM 912909 10 8 4,770 200,000 SH PUT SOLE 0 200,000 0 0 URBAN OUTFITTERS INC COM 917047 10 2 2,452 62,300 SH SOLE 0 62,300 0 0 US BANCORP DEL COM NEW 902973 30 4 6,522 204,200 SH SOLE 0 204,200 0 0 USANA HEALTH SCIENCES INC COM 90328M 10 7 6,586 200,000 SH PUT SOLE 0 200,000 0 0 V F CORP COM 918204 10 8 17,060 113,000 SH SOLE 0 113,000 0 0 VERISK ANALYTICS INC CL A 92345Y 10 6 49,747 976,000 SH SOLE 0 976,000 0 0 VERIZON COMMUNICATIONS INC COM 92343V 10 4 325 7,500 SH SOLE 0 7,500 0 0 VISA INC COM CL A 92826C 83 9 22,434 148,000 SH SOLE 0 148,000 0 0 VODAFONE GROUP PLC SPONS NEW ADR NEW 92857W 20 9 1,637 65,000 SH SOLE 0 65,000 0 0 VULCAN MATLS CO COM 929160 10 9 4,606 88,500 SH SOLE 0 88,500 0 0 WABTEC CORP COM 929740 10 8 26,910 307,400 SH SOLE 0 307,400 0 0 WALTER ENERGY INC COM 93317Q 10 5 2,691 75,000 SH CALL SOLE 0 75,000 0 0 WELLS FARGO & CO NEW COM 949746 10 1 926 27,100 SH SOLE 0 27,100 0 0 XILINX INC COM 983919 10 1 16,137 450,000 SH CALL SOLE 0 450,000 0 0