PIPER SANDLER & CO.

Filed: 8/13/2025ACC: 0000724683-25-000112

📋 What this filing means

PIPER SANDLER & CO. filed this quarterly 13F‑HR report disclosing 20 equity positions with a total reported market value of $129.64M. This filing provides a transparent view of the manager's long equity holdings as of the quarter end.

Positions

$129.64M

Total AUM (reported)

117.57M

Total Shares

Allocation by class

DBCV 2.750% 6/0$18.57M14.3%

NOTE 0.500% 8/1$18.19M14.0%

NOTE 9/1$13.67M10.5%

NOTE 5.750%10/0$12.56M9.7%

NOTE 11/0$12.55M9.7%

NOTE 7.500% 8/0$10.16M7.8%

NOTE 0.625%10/0$8.97M6.9%

Portfolio Concentration

Top 3$50.39M38.9%

4–10$63.15M48.7%

11–25$16.10M12.4%

Top 3 weight

38.9%

Top 10 weight

87.6%

Voting Authority Distribution

Total shares with voting rights: 117.57M

Sole

Full voting authority

117.57M

% of voting shares100.0%

Shared

Joint voting authority

0.00

% of voting shares0.0%

None

No voting authority

0.00

% of voting shares0.0%

Investment Discretion (by position count)

Sole20

Shared0

Other0

Dominant voting typeSole · 100.0% of voting shares

Institutional Holdings20

Rows:

NRG ENERGY INC

SOLE

DBCV 2.750% 6/0

Shares5M

TypePRN

Market value$18.57M

14.32%

Sole

Shared

0.00

None

0.00

INTEGRA LIFESCIENCES HLDGS C

SOLE

NOTE 0.500% 8/1

Shares18.39M

TypePRN

Market value$18.19M

14.03%

Sole

18.39M

Shared

0.00

None

0.00

SOLAREDGE TECHNOLOGIES INC

SOLE

NOTE 9/1

Shares14.07M

TypePRN

Market value$13.63M

10.51%

Sole

14.07M

Shared

0.00

None

0.00

RWT HLDGS INC

SOLE

NOTE 5.750%10/0

Shares12.60M

TypePRN

Market value$12.56M

9.69%

Sole

12.60M

Shared

0.00

None

0.00

FIVERR INTL LTD

SOLE

NOTE 11/0

Shares12.80M

TypePRN

Market value$12.55M

9.68%

Sole

12.80M

Shared

0.00

None

0.00

ARBOR REALTY TRUST INC

SOLE

NOTE 7.500% 8/0

Shares10.17M

TypePRN

Market value$10.16M

7.83%

Sole

10.17M

Shared

0.00

None

0.00

WAYFAIR INC

SOLE

NOTE 0.625%10/0

Shares9.09M

TypePRN

Market value$8.97M

6.92%

Sole

9.09M

Shared

0.00

None

0.00

TWO HARBORS INVENTMENT CORPO

SOLE

NOTE 6.250% 1/1

Shares7.22M

TypePRN

Market value$7.16M

5.52%

Sole

7.22M

Shared

0.00

None

0.00

WIX COM LTD

SOLE

NOTE 8/1

Shares6.67M

TypePRN

Market value$6.62M

5.11%

Sole

6.67M

Shared

0.00

None

0.00

PACIRA BIOSCIENCES INC

SOLE

NOTE 0.750% 8/0

Shares5.15M

TypePRN

Market value$5.13M

3.96%

Sole

5.15M

Shared

0.00

None

0.00

PENNYMAC CORP

SOLE

NOTE 5.500% 3/1

Shares4.11M

TypePRN

Market value$4.09M

3.16%

Sole

4.11M

Shared

0.00

None

0.00

ENPHASE ENERGY INC

SOLE

NOTE 3/0

Shares4.16M

TypePRN

Market value$3.99M

3.08%

Sole

4.16M

Shared

0.00

None

0.00

MESA LABS INC

SOLE

NOTE 1.375% 8/1

Shares3.50M

TypePRN

Market value$3.47M

2.68%

Sole

3.50M

Shared

0.00

None

0.00

FASTLY INC

SOLE

NOTE 3/1

Shares3M

TypePRN

Market value$2.88M

2.22%

Sole

Shared

0.00

None

0.00

EVENTBRITE INC

SOLE

NOTE 5.000%12/0

Shares1.50M

TypePRN

Market value$1.49M

1.15%

Sole

1.50M

Shared

0.00

None

0.00

PROFRAC HLDG CORP

SOLE

CLASS A COM

Shares8.16K

TypeSH

Market value$63.4K

0.05%

Sole

8.16K

Shared

0.00

None

0.00

NICE LTD

SOLE

NOTE 9/1

Shares40K

TypePRN

Market value$39.4K

0.03%

Sole

40K

Shared

0.00

None

0.00

WAYFAIR INC

SOLE

NOTE 1.000% 8/1

Shares34K

TypePRN

Market value$32.2K

0.02%

Sole

34K

Shared

0.00

None

0.00

SHATTUCK LABS INC

SOLE

COM

Shares39.47K

TypeSH

Market value$31.3K

0.02%

Sole

39.47K

Shared

0.00

None

0.00

OMNICELL COM

SOLE

NOTE 0.250% 9/1

Shares12K

TypePRN

Market value$11.8K

<0.01%

Sole

12K

Shared

0.00

None

0.00

Issuer	Class	Shares	Type	Value / Portfolio %	Voting — Sole
NRG ENERGY INCSOLE	DBCV 2.750% 6/0	5M	PRN	$18.57M 14.32%	5M
INTEGRA LIFESCIENCES HLDGS CSOLE	NOTE 0.500% 8/1	18.39M	PRN	$18.19M 14.03%	18.39M
SOLAREDGE TECHNOLOGIES INCSOLE	NOTE 9/1	14.07M	PRN	$13.63M 10.51%	14.07M
RWT HLDGS INCSOLE	NOTE 5.750%10/0	12.60M	PRN	$12.56M 9.69%	12.60M
FIVERR INTL LTDSOLE	NOTE 11/0	12.80M	PRN	$12.55M 9.68%	12.80M
ARBOR REALTY TRUST INCSOLE	NOTE 7.500% 8/0	10.17M	PRN	$10.16M 7.83%	10.17M
WAYFAIR INCSOLE	NOTE 0.625%10/0	9.09M	PRN	$8.97M 6.92%	9.09M
TWO HARBORS INVENTMENT CORPOSOLE	NOTE 6.250% 1/1	7.22M	PRN	$7.16M 5.52%	7.22M
WIX COM LTDSOLE	NOTE 8/1	6.67M	PRN	$6.62M 5.11%	6.67M
PACIRA BIOSCIENCES INCSOLE	NOTE 0.750% 8/0	5.15M	PRN	$5.13M 3.96%	5.15M
PENNYMAC CORPSOLE	NOTE 5.500% 3/1	4.11M	PRN	$4.09M 3.16%	4.11M
ENPHASE ENERGY INCSOLE	NOTE 3/0	4.16M	PRN	$3.99M 3.08%	4.16M
MESA LABS INCSOLE	NOTE 1.375% 8/1	3.50M	PRN	$3.47M 2.68%	3.50M
FASTLY INCSOLE	NOTE 3/1	3M	PRN	$2.88M 2.22%	3M
EVENTBRITE INCSOLE	NOTE 5.000%12/0	1.50M	PRN	$1.49M 1.15%	1.50M
PROFRAC HLDG CORPSOLE	CLASS A COM	8.16K	SH	$63.4K 0.05%	8.16K
NICE LTDSOLE	NOTE 9/1	40K	PRN	$39.4K 0.03%	40K
WAYFAIR INCSOLE	NOTE 1.000% 8/1	34K	PRN	$32.2K 0.02%	34K
SHATTUCK LABS INCSOLE	COM	39.47K	SH	$31.3K 0.02%	39.47K
OMNICELL COMSOLE	NOTE 0.250% 9/1	12K	PRN	$11.8K <0.01%	12K