PIPER SANDLER & CO.
Follow13F filer, CIK 724683, MINNEAPOLIS, MN
PIPER SANDLER & CO. reported $141,188,581 across 25 holdings for the quarter ended 2025-12-31, in a 13F-HR filed 2026-02-12. Its ten largest share positions make up 83.49% of the portfolio.
Filed (acceptance time not in the bulk data set), ingested 13F-HR 0000724683-26-000006
- Period
- 2025-12-31
- Reported value
- $141M
- Holdings
- 25
- Top 10 weight
- 83.49%
- New
- 10
- Sold out
- 9
Largest buys vs the previous quarter
None.
Largest sells vs the previous quarter
| Security | Shares change | Approx. value |
|---|---|---|
| CDEexited | -23,416 | -$439K |
| ACDCexited | -8,164 | -$30.2K |
Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.
Holdings, Q4 2025
Share positions as resolved from 13F-HR 0000724683-26-000006, largest first. % of portfolio is the value over $141,188,581, the sum of the share positions whose value is usable for ratios (method).
Principal amounts
Notes and convertibles filed as a face amount (PRN). A face amount is never added to a share count (H6).
| Security | Type | Amount | Value | Change |
|---|---|---|---|---|
| SUMMIT HOTEL PPTYSSUMMIT HOTEL PPTYS NOTE 1.500% 2/1 | principal | 19,796,000 | $19.6M | +9,035,000 |
| JETBLUE AIRWAYS CORPJETBLUE AIRWAYS CORP NOTE 0.500% 4/0 | principal | 16,795,000 | $16.4M | +9,099,000 |
| CABLE ONE INCCABLE ONE INC NOTE 3/1 | principal | 14,124,000 | $13.8M | +6,483,000 |
| MARRIOTT VACATIONS WORLDWIDEMARRIOTT VACATIONS WORLDWIDE NOTE 1/1 | principal | 13,547,000 | $13.4M | +3,500,000 |
| TWO HARBORS INVENTMENT CORPOTWO HARBORS INVENTMENT CORPO NOTE 6.250% 1/1 | principal | 12,687,000 | $12.6M | +5,150,000 |
| ENPHASE ENERGY INCENPHASE ENERGY INC NOTE 3/0 | principal | 10,664,000 | $10.5M | +500,000 |
| MGP INGREDIENTS INC NEWMGP INGREDIENTS INC NEW NOTE 1.875%11/1 | principal | 10,802,000 | $10.4M | +5,802,000 |
| PENNYMAC CORPPENNYMAC CORP NOTE 5.500% 3/1 | principal | 9,541,000 | $9.45M | +3,188,000 |
| CRACKER BARREL OLD CTRY STORCRACKER BARREL OLD CTRY STOR cv | principal | 7,170,000 | $6.9M | new |
| PELOTON INTERACTIVE INCPELOTON INTERACTIVE INC NOTE 2/1 | principal | 5,000,000 | $4.9M | +4,000,000 |
| UPSTART HLDGS INCUPSTART HLDGS INC NOTE 0.250% 8/1 | principal | 5,044,000 | $4.81M | new |
| PENN ENTERTAINMENT INCPENN ENTERTAINMENT INC NOTE 2.750% 5/1 | principal | 4,270,000 | $4.18M | new |
| ALARM COM HLDGS INCALARM COM HLDGS INC NOTE 1/1 | principal | 4,000,000 | $3.95M | new |
| FASTLY INCFASTLY INC NOTE 3/1 | principal | 3,000,000 | $2.93M | 0 |
| MITEK SYS INCMITEK SYS INC NOTE 0.750% 2/0 | principal | 1,500,000 | $1.47M | new |
| BLACKSTONE MORTGAGE TRUST INBLACKSTONE MORTGAGE TRUST IN NOTE 5.500% 3/1 | principal | 1,303,000 | $1.27M | new |
| TripAdvisor IncTripAdvisor Inc CONV | principal | 1,166,000 | $1.13M | new |
| GROUPON INCGROUPON INC NOTE 1.125% 3/1 | principal | 1,120,000 | $1.1M | new |
| MAGNITE INCMAGNITE INC NOTE 0.250% 3/1 | principal | 700,000 | $684K | new |
| RINGCENTRAL INCRINGCENTRAL INC NOTE 3/1 | principal | 455,000 | $450K | 0 |
| HAEMONETICS CORP MASSHAEMONETICS CORP MASS NOTE 3/0 | principal | 339,000 | $335K | +319,000 |
| PEBBLEBROOK HOTEL TRPEBBLEBROOK HOTEL TR NOTE 1.750%12/1 | principal | 84,000 | $81.1K | new |
| WAYFAIR INCWAYFAIR INC NOTE 1.000% 8/1 | principal | 34,000 | $33.8K | 0 |
Sold out in Q4 2025
Positions in the previous quarter's report that this quarter's report no longer lists.
| Security | Shares before | Value before | Type |
|---|---|---|---|
| SEA LTDSEA LTD | 12,500,000 | $24.6M | principal |
| FIVERR INTL LTDFIVERR INTL LTD | 15,050,000 | $14.9M | principal |
| RWT HLDGS INCRWT HLDGS INC | 12,595,000 | $12.5M | principal |
| NOVOCURE LTDNOVOCURE LTD | 11,015,000 | $10.8M | principal |
| NEW MTN FIN CORPNEW MTN FIN CORP | 5,636,000 | $5.58M | principal |
| EVENTBRITE INCEVENTBRITE INC | 1,500,000 | $1.47M | principal |
| CDECOEUR MNG INC | 23,416 | $439K | shares |
| DEXCOM INCDEXCOM INC | 250,000 | $248K | principal |
| ACDCPROFRAC HLDG CORP | 8,164 | $30.2K | shares |
How Q4 2025 was built
Available 13F filings of this filer for the quarter and their roles: the base report is the latest original or restatement, NEW HOLDINGS amendments filed after it are added (method).
| Filing | Role | Amendment | Filed | Accepted | Ingested |
|---|---|---|---|---|---|
| 13F-HR 0000724683-26-000006 | base | 2026-02-12 | acceptance time not in the bulk data set |