PIPER SANDLER & CO.

Filed: 7/28/2026ACC: 0000724683-26-000057

📋 What this filing means

PIPER SANDLER & CO. filed this quarterly 13F‑HR report disclosing 19 equity positions with a total reported market value of $134.89M. This filing provides a transparent view of the manager's long equity holdings as of the quarter end.

Positions

$134.89M

Total AUM (reported)

93.64M

Total Shares

Allocation by class

NOTE 0.500% 6/1$32.27M23.9%

NOTE 2.500% 9/1$24.42M18.1%

NOTE 1.875%11/1$17.40M12.9%

NOTE 0.250% 8/1$11.63M8.6%

NOTE 5.500% 3/1$8.86M6.6%

NOTE 6.750% 7/1$8.06M6.0%

NOTE 7.750% 6/1$7.00M5.2%

Portfolio Concentration

Top 3$74.08M54.9%

4–10$49.91M37.0%

11–25$10.89M8.1%

Top 3 weight

54.9%

Top 10 weight

91.9%

Voting Authority Distribution

Total shares with voting rights: 93.64M

Sole

Full voting authority

93.64M

% 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)

Sole19

Shared0

Other0

Dominant voting typeSole · 100.0% of voting shares

Institutional Holdings19

Rows:

LUMENTUM HLDGS INC

SOLE

NOTE 0.500% 6/1

Shares5.02M

TypePRN

Market value$32.27M

23.92%

Sole

5.02M

Shared

0.00

None

0.00

ADVANCED ENERGY INDS

SOLE

NOTE 2.500% 9/1

Shares9M

TypePRN

Market value$24.42M

18.10%

Sole

Shared

0.00

None

0.00

MGP INGREDIENTS INC NEW

SOLE

NOTE 1.875%11/1

Shares18.03M

TypePRN

Market value$17.40M

12.90%

Sole

18.03M

Shared

0.00

None

0.00

UPSTART HLDGS INC

SOLE

NOTE 0.250% 8/1

Shares9.21M

TypePRN

Market value$9.06M

6.72%

Sole

9.21M

Shared

0.00

None

0.00

BLACKSTONE MORTGAGE TRUST IN

SOLE

NOTE 5.500% 3/1

Shares8.97M

TypePRN

Market value$8.86M

6.57%

Sole

8.97M

Shared

0.00

None

0.00

STARWOOD PPTY TR INC

SOLE

NOTE 6.750% 7/1

Shares8M

TypePRN

Market value$8.06M

5.98%

Sole

Shared

0.00

None

0.00

REDWOOD TRUST INC

SOLE

NOTE 7.750% 6/1

Shares6.99M

TypePRN

Market value$7.00M

5.19%

Sole

6.99M

Shared

0.00

None

0.00

SHIFT4 PMTS INC

SOLE

NOTE 0.500% 8/0

Shares7.26M

TypePRN

Market value$6.84M

5.07%

Sole

7.26M

Shared

0.00

None

0.00

MARRIOTT VACATIONS WORLDWIDE

SOLE

NOTE 3.250%12/1

Shares5.56M

TypePRN

Market value$5.37M

3.98%

Sole

5.56M

Shared

0.00

None

0.00

TELADOC HEALTH INC

SOLE

NOTE 1.250% 6/0

Shares4.93M

TypePRN

Market value$4.72M

3.50%

Sole

4.93M

Shared

0.00

None

0.00

ZIFF DAVIS INC

SOLE

NOTE 1.750%11/0

Shares2.68M

TypePRN

Market value$2.62M

1.94%

Sole

2.68M

Shared

0.00

None

0.00

UPWORK INC

SOLE

NOTE 0.250% 8/1

Shares2.61M

TypePRN

Market value$2.57M

1.90%

Sole

2.61M

Shared

0.00

None

0.00

SEA LTD

SOLE

NOTE 0.250% 9/1

Shares2.50M

TypePRN

Market value$2.47M

1.83%

Sole

2.50M

Shared

0.00

None

0.00

REDFIN CORP

SOLE

NOTE 0.500% 4/0

Shares2.08M

TypePRN

Market value$2.00M

1.48%

Sole

2.08M

Shared

0.00

None

0.00

PEBBLEBROOK HOTEL TR

SOLE

NOTE 1.750%12/1

Shares548K

TypePRN

Market value$542.8K

0.40%

Sole

548K

Shared

0.00

None

0.00

APOLLO GLOBAL MGMT INC

SOLE

SER A MAND CNV

Shares7.26K

TypeSH

Market value$442.3K

0.33%

Sole

7.26K

Shared

0.00

None

0.00

AFFIRM HLDGS INC

SOLE

NOTE 11/1

Shares192K

TypePRN

Market value$188.6K

0.14%

Sole

192K

Shared

0.00

None

0.00

WAYFAIR INC

SOLE

NOTE 1.000% 8/1

Shares34K

TypePRN

Market value$33.5K

0.02%

Sole

34K

Shared

0.00

None

0.00

GREEN PLAINS INC

SOLE

NOTE 2.250% 3/1

Shares25K

TypePRN

Market value$24.6K

0.02%

Sole

25K

Shared

0.00

None

0.00

Issuer	Class	Shares	Type	Value / Portfolio %	Voting — Sole
LUMENTUM HLDGS INCSOLE	NOTE 0.500% 6/1	5.02M	PRN	$32.27M 23.92%	5.02M
ADVANCED ENERGY INDSSOLE	NOTE 2.500% 9/1	9M	PRN	$24.42M 18.10%	9M
MGP INGREDIENTS INC NEWSOLE	NOTE 1.875%11/1	18.03M	PRN	$17.40M 12.90%	18.03M
UPSTART HLDGS INCSOLE	NOTE 0.250% 8/1	9.21M	PRN	$9.06M 6.72%	9.21M
BLACKSTONE MORTGAGE TRUST INSOLE	NOTE 5.500% 3/1	8.97M	PRN	$8.86M 6.57%	8.97M
STARWOOD PPTY TR INCSOLE	NOTE 6.750% 7/1	8M	PRN	$8.06M 5.98%	8M
REDWOOD TRUST INCSOLE	NOTE 7.750% 6/1	6.99M	PRN	$7.00M 5.19%	6.99M
SHIFT4 PMTS INCSOLE	NOTE 0.500% 8/0	7.26M	PRN	$6.84M 5.07%	7.26M
MARRIOTT VACATIONS WORLDWIDESOLE	NOTE 3.250%12/1	5.56M	PRN	$5.37M 3.98%	5.56M
TELADOC HEALTH INCSOLE	NOTE 1.250% 6/0	4.93M	PRN	$4.72M 3.50%	4.93M
ZIFF DAVIS INCSOLE	NOTE 1.750%11/0	2.68M	PRN	$2.62M 1.94%	2.68M
UPWORK INCSOLE	NOTE 0.250% 8/1	2.61M	PRN	$2.57M 1.90%	2.61M
SEA LTDSOLE	NOTE 0.250% 9/1	2.50M	PRN	$2.47M 1.83%	2.50M
REDFIN CORPSOLE	NOTE 0.500% 4/0	2.08M	PRN	$2.00M 1.48%	2.08M
PEBBLEBROOK HOTEL TRSOLE	NOTE 1.750%12/1	548K	PRN	$542.8K 0.40%	548K
APOLLO GLOBAL MGMT INCSOLE	SER A MAND CNV	7.26K	SH	$442.3K 0.33%	7.26K
AFFIRM HLDGS INCSOLE	NOTE 11/1	192K	PRN	$188.6K 0.14%	192K
WAYFAIR INCSOLE	NOTE 1.000% 8/1	34K	PRN	$33.5K 0.02%	34K
GREEN PLAINS INCSOLE	NOTE 2.250% 3/1	25K	PRN	$24.6K 0.02%	25K