Piper Sandler & Co.
In its 13F for Q1 2024 (holdings as of March 31, 2024, filed May 13, 2024), Piper Sandler & Co. reported 4 stock positions worth $855 thousand. Its top holding was Shattuck Labs (STTK) at 41.3% of the portfolio, followed by Zeo Energy (ZEO, 33.3%) and Oppfi (OPFI, 17.4%). Compared with Q4 2023, it opened 1 new position and sold out of 2. The biggest buy was a new position in Zeo Energy (ZEO) and the biggest sale an exit from Solaris Energy Infrastructur (SEI).
- Most Recent 13F
- Q2 2026
- Location
- MINNEAPOLIS, MN
- CIK
- 0000724683
- Portfolio Value
- $855K (Q1 2024)
- SEC Filing
- 0000724683-24-000020 ↗ filed May 13, 2024
Holdings Value
Holdings 4 stocks · $855K
| STTK Shattuck Labs Inc. | 41.28% | 39,467 | $353K | No change |
| ZEO Zeo Energy Corp. | 33.35% | 50,000 | $285K | New |
| OPFI Oppfi Inc. | 17.39% | 59,438 | $149K | No change |
| ACDC Profrac Holding Corp. Class A | 7.99% | 8,164 | $68K | No change |
Other holdings (18): bonds, preferreds, convertibles and warrants · $144.4M (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| PALO ALTO NETWORKS (PANW 0.375 06/01/25) | NOTE 0.375% 6/0 · principal | 18,024,000 | $50.1M | New |
| NEUROCRINE BIOSCIENCES (NBIX 2.25 05/15/24) | NOTE 2.250% 5/1 · principal | 13,559,000 | $24.6M | New |
| PIONEER NATURAL RESOURCE (PXD 0.25 05/15/25) | NOTE 0.250% 5/1 · principal | 4,422,000 | $12.4M | Add +145.0% |
| MFA FINANCIAL INC (MFA 6.25 06/15/24) | NOTE 6.250% 6/1 · principal | 10,726,000 | $10.7M | Add +112.1% |
| PENNYMAC CORP (PMT 5.5 11/01/24) | NOTE 5.500%11/0 · principal | 10,705,000 | $10.5M | Add +101.5% |
| CHEGG INC (CHGG 0.125 03/15/25) | NOTE 0.125% 3/1 · principal | 8,900,000 | $8.3M | Add +256.0% |
| JAZZ INVESTMENTS I LTD (JAZZ 1.5 08/15/24) | NOTE 1.500% 8/1 · principal | 7,100,000 | $7.0M | No change |
| PARAMOUNT GLOBAL (SKYD 5.75 04/01/24 A) | 5.75% CONV PFD A | 382,515 | $5.3M | New |
| BILIBILI INC (BILI 1.375 04/01/26) | NOTE 1.375% 4/0 · principal | 5,000,000 | $5.0M | New |
| KAMAN CORP (KAMN 3.25 05/01/24) | NOTE 3.250% 5/0 · principal | 3,288,000 | $3.3M | Add +43.5% |
| ARBOR REALTY TRUST INC (ABR 7.5 08/01/25) | NOTE 7.500% 8/0 · principal | 3,000,000 | $2.9M | New |
| TURNING POINT BRANDS INC (TPB 2.5 07/15/24) | NOTE 2.500% 7/1 · principal | 2,372,000 | $2.3M | New |
| REDWOOD TRUST INC (RWT 5.625 07/15/24) | NOTE 5.625% 7/1 · principal | 1,505,000 | $1.5M | Add +30000.0% |
| PROSPECT CAPITAL CORP (PSEC 6.375 03/01/25) | NOTE 6.375% 3/0 · principal | 335,000 | $332K | New |
| I3 VERTICALS LLC (IIIV 1 02/15/25) | NOTE 1.000% 2/1 · principal | 97,000 | $93K | New |
| REEWF Cartesian Growth Corp. II -28 | *W EXP 07/12/202 | 402,500 | $42K | No change |
| CLARIVATE PLC (CLVT 5.25 06/01/24 A) | 5.25% PFD CONV A | 545 | $16K | New |
| OPFI.WS Oppfi Inc. -CW26 | *W EXP 07/20/202 | 29,719 | $2K | No change |
Total filed on the 13F, all lines: $145.3M.
Portfolio Sells Q4 2023 → Q1 2024
Portfolio Buys Q4 2023 → Q1 2024
| ZEO Zeo Energy Corp. | New | 33.35% | +33.35 |
Notes & Other Activity Q4 2023 → Q1 2024
| PALO ALTO NETWORKS (PANW 0.375 06/01/25) | NOTE 0.375% 6/0 · principal | New | 18,024,000 | $50.1M |
| TESLA INC (TSLA 2 05/15/24) | NOTE 2.000% 5/1 · principal | Sold out | 4,000,000 | $47.6Mbefore exit |
| NICE SYSTEMS INC (NICEIT 1.25 01/15/24) | NOTE 1.250% 1/1 · principal | Sold out | 13,495,000 | $28.7Mbefore exit |
| NEUROCRINE BIOSCIENCES (NBIX 2.25 05/15/24) | NOTE 2.250% 5/1 · principal | New | 13,559,000 | $24.6M |
| WESTERN DIGITAL CORP (WDC 1.5 02/01/24) | NOTE 1.500% 2/0 · principal | Sold out | 20,355,000 | $20.3Mbefore exit |
| PIONEER NATURAL RESOURCE (PXD 0.25 05/15/25) | NOTE 0.250% 5/1 · principal | Add +145.0% | 4,422,000 | $12.4M |
| MFA FINANCIAL INC (MFA 6.25 06/15/24) | NOTE 6.250% 6/1 · principal | Add +112.1% | 10,726,000 | $10.7M |
| PENNYMAC CORP (PMT 5.5 11/01/24) | NOTE 5.500%11/0 · principal | Add +101.5% | 10,705,000 | $10.5M |
| CHEGG INC (CHGG 0.125 03/15/25) | NOTE 0.125% 3/1 · principal | Add +256.0% | 8,900,000 | $8.3M |
| PARAMOUNT GLOBAL (SKYD 5.75 04/01/24 A) | 5.75% CONV PFD A | New | 382,515 | $5.3M |
| BILIBILI INC (BILI 1.375 04/01/26) | NOTE 1.375% 4/0 · principal | New | 5,000,000 | $5.0M |
| HERBALIFE LTD (HLF 2.625 03/15/24) | NOTE 2.625% 3/1 · principal | Sold out | 4,520,000 | $4.5Mbefore exit |
| KAMAN CORP (KAMN 3.25 05/01/24) | NOTE 3.250% 5/0 · principal | Add +43.5% | 3,288,000 | $3.3M |
| ARBOR REALTY TRUST INC (ABR 7.5 08/01/25) | NOTE 7.500% 8/0 · principal | New | 3,000,000 | $2.9M |
| GREENBRIER COS INC (GBX 2.875 02/01/24) | NOTE 2.875% 2/0 · principal | Sold out | 2,865,000 | $2.8Mbefore exit |
| TURNING POINT BRANDS INC (TPB 2.5 07/15/24) | NOTE 2.500% 7/1 · principal | New | 2,372,000 | $2.3M |
| REDWOOD TRUST INC (RWT 5.625 07/15/24) | NOTE 5.625% 7/1 · principal | Add +30000.0% | 1,505,000 | $1.5M |
| 8X8 INC (EGHT 0.5 02/01/24) | NOTE 0.500% 2/0 · principal | Sold out | 1,500,000 | $1.5Mbefore exit |
| PROSPECT CAPITAL CORP (PSEC 6.375 03/01/25) | NOTE 6.375% 3/0 · principal | New | 335,000 | $332K |
| I3 VERTICALS LLC (IIIV 1 02/15/25) | NOTE 1.000% 2/1 · principal | New | 97,000 | $93K |
| CLARIVATE PLC (CLVT 5.25 06/01/24 A) | 5.25% PFD CONV A | New | 545 | $16K |
Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 0 | $0 | |
| Q1 2026 | 2 | $545K | ZEO, STTK |
| Q4 2025 | 2 | $883K | ZEO, STTK |
| Q3 2025 | 4 | $1.5M | ZEO, CDE, STTK, ACDC |
| Q2 2025 | 2 | $95K | ACDC, STTK |
| Q1 2025 | 4 | $826K | NBBK, ACDC, STTK, SEI |
| Q4 2024 | 3 | $113K | ACDC, STTK, RNST |
| Q3 2024 | 4 | $194K | STTK, ACDC, FSEA, BRBS |
| Q2 2024 | 3 | $228K | STTK, ACDC, KVHI |
| Q1 2024 | 4 | $855K | STTK, ZEO, OPFI, ACDC |