PIPER SANDLER & CO.

All Holdings — 2025 Q4

Portfolio Concentration Analytics: 7.6
Risk-based ENB:
Total Positions
34
Quarter
2025 Q4
Top Holding
N/A (13.9%)
Top 10 Concentration
83.5%
Turnover Rate
23.4%
Sector HHI
0.18
Items per page:
1-25 of 34
Stock History Sector / Type Port % Prev % Rank / Prev Conviction Change % Change Influence Shares Mkt Value Avg Cost Price Held 1st Owned Source Source Date Date Reported
N/A
SUMMIT HOTEL PP...
Bond/Debt 13.87% 7.53% #1 4
Prev: #5
7.8 9,035,000 84.0%
P
S
19,796,000 $19,578,244,000 13F Filing 2025-12-31 2026-02-14 (Est.)
N/A
JETBLUE AIRWAYS...
Bond/Debt 11.60% 5.33% #2 7
Prev: #9
6.9 9,099,000 118.2%
P
S
16,795,000 $16,375,125,000 13F Filing 2025-12-31 2026-02-14 (Est.)
N/A
CABLE ONE INC
Bond/Debt 9.80% 5.29% #3 7
Prev: #10
6.2 6,483,000 84.8%
P
S
14,124,000 $13,841,520,000 13F Filing 2025-12-31 2026-02-14 (Est.)
N/A
MARRIOTT VACATI...
Bond/Debt 9.51% 7.03% #4 3
Prev: #7
5.9 3,500,000 34.8%
P
S
13,547,000 $13,428,464,000 13F Filing 2025-12-31 2026-02-14 (Est.)
N/A
TWO HARBORS INV...
Bond/Debt 8.90% 5.36% #5 3
Prev: #8
5.8 5,150,000 68.3%
P
S
12,687,000 $12,560,130,000 13F Filing 2025-12-31 2026-02-14 (Est.)
N/A
ENPHASE ENERGY ...
Bond/Debt 7.42% 7.05% #6
Prev: #6
5.0 500,000 4.9%
P
S
10,664,000 $10,472,048,000 13F Filing 2025-12-31 2026-02-14 (Est.)
N/A
MGP INGREDIENTS...
Bond/Debt 7.34% 3.40% #7 6
Prev: #13
5.2 5,802,000 116.0%
P
S
10,802,000 $10,369,920,000 13F Filing 2025-12-31 2026-02-14 (Est.)
N/A
PENNYMAC CORP
Bond/Debt 6.69% 4.51% #8 3
Prev: #11
4.8 3,188,000 50.2%
P
S
9,541,000 $9,445,590,000 13F Filing 2025-12-31 2026-02-14 (Est.)
N/A
CRACKER BARREL ...
Bond/Debt 4.89% #9
Prev: #—
4.0 7,170,000 no change
NEW
7,170,000 $6,904,710,000 13F Filing 2025-12-31 2026-02-14 (Est.)
N/A
PELOTON INTERAC...
Bond/Debt 3.47% 0.70% #10 6
Prev: #16
3.7 4,000,000 400.0%
P
S
5,000,000 $4,900,000,000 13F Filing 2025-12-31 2026-02-14 (Est.)
N/A
UPSTART HLDGS I...
Bond/Debt 3.41% #11
Prev: #—
3.4 5,044,000 no change
NEW
5,044,000 $4,810,715,000 13F Filing 2025-12-31 2026-02-14 (Est.)
PENN
PENN ENTERTAINM...
Bond/Debt 2.96% #12
Prev: #—
3.2 4,270,000 no change
NEW
4,270,000 $4,184,600,000 2025 Q4 13F Filing 2025-12-31 2026-02-14 (Est.)
N/A
ALARM COM HLDGS...
Bond/Debt 2.80% #13
Prev: #—
3.1 4,000,000 no change
NEW
4,000,000 $3,952,400,000 13F Filing 2025-12-31 2026-02-14 (Est.)
N/A
FASTLY INC
Bond/Debt 2.07% 2.05% #14
Prev: #14
0.8 no change no change
P
S
3,000,000 $2,929,500,000 13F Filing 2025-12-31 2026-02-14 (Est.)
N/A
MITEK SYS INC
Bond/Debt 1.04% #15
Prev: #—
2.4 1,500,000 no change
NEW
1,500,000 $1,470,000,000 13F Filing 2025-12-31 2026-02-14 (Est.)
N/A
BLACKSTONE MORT...
Bond/Debt 0.90% #16
Prev: #—
2.4 1,303,000 no change
NEW
1,303,000 $1,270,425,000 13F Filing 2025-12-31 2026-02-14 (Est.)
N/A
TRIPADVISOR INC
Bond/Debt 0.80% #17
Prev: #—
2.3 1,166,000 no change
NEW
1,166,000 $1,131,020,000 13F Filing 2025-12-31 2026-02-14 (Est.)
N/A
GROUPON INC
Bond/Debt 0.78% #18
Prev: #—
2.3 1,120,000 no change
NEW
1,120,000 $1,098,300,000 13F Filing 2025-12-31 2026-02-14 (Est.)
ZEO
ZEO ENERGY CORP
Technology 0.52% 0.66% #19 2
Prev: #17
0.2 no change no change
P
S
677,711 $738,705,000 2024 Q1 13F Filing 2025-12-31 2026-02-14 (Est.)
N/A
MAGNITE INC
Bond/Debt 0.48% #20
Prev: #—
2.2 700,000 no change
NEW
700,000 $683,900,000 13F Filing 2025-12-31 2026-02-14 (Est.)
N/A
RINGCENTRAL INC
Bond/Debt 0.32% 0.32% #21 3
Prev: #18
0.1 no change no change
P
S
455,000 $449,540,000 13F Filing 2025-12-31 2026-02-14 (Est.)
N/A
HAEMONETICS COR...
Bond/Debt 0.24% 0.01% #22 2
Prev: #24
2.4 319,000 1595.0%
P
S
339,000 $334,763,000 13F Filing 2025-12-31 2026-02-14 (Est.)
STTK
SHATTUCK LABS I...
Healthcare 0.10% 0.07% #23 2
Prev: #21
0.0 no change no change
P
S
39,467 $144,055,000 2020 Q4 13F Filing 2025-12-31 2026-02-14 (Est.)
N/A
PEBBLEBROOK HOT...
Bond/Debt 0.06% #24
Prev: #—
2.0 84,000 no change
NEW
84,000 $81,060,000 13F Filing 2025-12-31 2026-02-14 (Est.)
N/A
WAYFAIR INC
Bond/Debt 0.02% 0.02% #25 3
Prev: #22
0.0 no change no change
P
S
34,000 $33,847,000 13F Filing 2025-12-31 2026-02-14 (Est.)
N/A
Sea Ltd
Bond/Debt 0.00% 17.64%
Sold All 😨
(Was: #1)
0.3 -12,500,000 -100.0%
CLOSED
$— 13F Filing 2025-12-31 2026-02-14 (Est.)
N/A
Fiverr Intl Ltd
Bond/Debt 0.00% 10.67%
Sold All 😨
(Was: #2)
0.3 -15,050,000 -100.0%
CLOSED
$— 13F Filing 2025-12-31 2026-02-14 (Est.)
N/A
RWT Hldgs Inc
Bond/Debt 0.00% 9.00%
Sold All 😨
(Was: #3)
0.3 -12,595,000 -100.0%
CLOSED
$— 13F Filing 2025-12-31 2026-02-14 (Est.)
N/A
Novocure Ltd
Bond/Debt 0.00% 7.79%
Sold All 😨
(Was: #4)
0.3 -11,015,000 -100.0%
CLOSED
$— 13F Filing 2025-12-31 2026-02-14 (Est.)
N/A
New MTN Fin Cor...
Bond/Debt 0.00% 4.00%
Sold All 😨
(Was: #12)
0.3 -5,636,000 -100.0%
CLOSED
$— 13F Filing 2025-12-31 2026-02-14 (Est.)
N/A
Eventbrite Inc
Bond/Debt 0.00% 1.05%
Sold All 😨
(Was: #15)
0.3 -1,500,000 -100.0%
CLOSED
$— 13F Filing 2025-12-31 2026-02-14 (Est.)
CDE
Coeur Mng Inc
Basic Materials 0.00% 0.32%
Sold All 😨
(Was: #19)
0.3 -23,416 -100.0%
CLOSED
$— 2025 Q3 13F Filing 2025-12-31 2026-02-14 (Est.)
N/A
Dexcom Inc
Bond/Debt 0.00% 0.18%
Sold All 😨
(Was: #20)
0.3 -250,000 -100.0%
CLOSED
$— 13F Filing 2025-12-31 2026-02-14 (Est.)
ACDC
Profrac Hldg Co...
Energy 0.00% 0.02%
Sold All 😨
(Was: #23)
0.3 -8,164 -100.0%
CLOSED
$— 2022 Q4 13F Filing 2025-12-31 2026-02-14 (Est.)
Showing 1-25 of 34 holdings

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