PIPER SANDLER & CO.
CIK 724683 · Holdings on Dec 31, 2025 · First reported Feb 12, 2026
Top ten holdings
Q4 2025- 866082AA813.87%
- 477143AP611.60%
- 12685JAE59.80%
- 57164YAD99.51%
- 90187BAB78.90%
- 29355AAH07.42%
- 55303JAB27.34%
- 70932AAF06.69%
- 22410JAB24.89%
- 70614WAB63.47%
Share classes counted separately83.49%
Portfolio value by quarter
What changed this quarter?
Within preview · weight change- 866082AA8Weight increased · +6.34 pp7.53% → 13.87%Shares +9.04M (+83.96%)
- 477143AP6Weight increased · +6.27 pp5.33% → 11.60%Shares +9.10M (+118.23%)
- 12685JAE5Weight increased · +4.51 pp5.29% → 9.80%Shares +6.48M (+84.84%)
Weight = security value ÷ total reported holdings value. Changes are in percentage points; price moves also affect weights, so they are not trade sizes.
Top 10 holdings 25
USD · B = billion · M = million; expand a row for exact values| # | Security | Value | Weight | Quantity | Weight / quantity change | Activity | |
|---|---|---|---|---|---|---|---|
| 01 | 866082AA8SUMMIT HOTEL PROPERTIESNOTE 1.500% 2/1 View history and evidence | $19.58M | 13.87% | 19.80M principal (USD) | 7.53% → 13.87%+6.34 pp +9.04M (+83.96%) | Added | ↗▾ |
| 02 | 477143AP6JETBLUE AIRWAYS CORPNOTE 0.500% 4/0 View history and evidence | $16.38M | 11.60% | 16.80M principal (USD) | 5.33% → 11.60%+6.27 pp +9.10M (+118.23%) | Added | ↗▾ |
| 03 | 12685JAE5CABLE ONE INCNOTE 3/1 View history and evidence | $13.84M | 9.80% | 14.12M principal (USD) | 5.29% → 9.80%+4.51 pp +6.48M (+84.84%) | Added | ↗▾ |
| 04 | 57164YAD9MARRIOTT VACATION WORLDWNOTE 1/1 View history and evidence | $13.43M | 9.51% | 13.55M principal (USD) | 7.03% → 9.51%+2.48 pp +3.50M (+34.84%) | Added | ↗▾ |
| 05 | 90187BAB7TWO HARBORS INV CORPNOTE 6.250% 1/1 View history and evidence | $12.56M | 8.90% | 12.69M principal (USD) | 5.36% → 8.90%+3.54 pp +5.15M (+68.33%) | Added | ↗▾ |
| 06 | 29355AAH0ENPHASE ENERGY INCNOTE 3/0 View history and evidence | $10.47M | 7.42% | 10.66M principal (USD) | 7.05% → 7.42%+0.37 pp +500.00K (+4.92%) | Added | ↗▾ |
| 07 | 55303JAB2MGP INGREDIENTS INCNOTE 1.875%11/1 View history and evidence | $10.37M | 7.34% | 10.80M principal (USD) | 3.40% → 7.34%+3.94 pp +5.80M (+116.04%) | Added | ↗▾ |
| 08 | 70932AAF0PENNYMAC CORPNOTE 5.500% 3/1 View history and evidence | $9.45M | 6.69% | 9.54M principal (USD) | 4.51% → 6.69%+2.18 pp +3.19M (+50.18%) | Added | ↗▾ |
| 09 | 22410JAB2CRACKER BARREL OLD COUNTNOTE 0.625% 6/1 View history and evidence | $6.90M | 4.89% | 7.17M principal (USD) | Prior unavailable +7.17M | New | ↗▾ |
| 10 | 70614WAB6PELOTON INTERACTIVE INCNOTE 2/1 View history and evidence | $4.90M | 3.47% | 5.00M principal (USD) | 0.70% → 3.47%+2.77 pp +4.00M (+400.00%) | Added | ↗▾ |
Options overlay 0
No options reported this quarter.
Exited positions 9
| Security | Type | Shares out | Value out | Previous filing | This filing |
|---|---|---|---|---|---|
| 81141RAF7 SEA LTD | Non-derivative | -12,500,000 | -$24.57M | SEC filing ↗ | SEC filing ↗ |
| FVRR FIVERR INTERNATIONAL LTD | Non-derivative | -15,050,000 | -$14.86M | SEC filing ↗ | SEC filing ↗ |
| 749772AD1 RWT HOLDINGS INC | Non-derivative | -12,595,000 | -$12.53M | SEC filing ↗ | SEC filing ↗ |
3 / 9 preview exits. Up to 30 exit records are previewed. Exit means absent from the current filing; execution date, price and proceeds are unknown.
Every number has a source.
CIK 724683 · Period 2025-12-31
Data loaded 2026-09-23 · First reported 2026-02-12
Amendments and versions
{
"amendments_merged": null,
"prior_versions": null,
"cover_table_value": 141188581
}Take these holdings further.
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