Piper Sandler & Co.
In its 13F for Q4 2024 (holdings as of December 31, 2024, filed February 10, 2025), Piper Sandler & Co. reported 3 stock positions worth $113 thousand. Its top holding was Profrac Class A (ACDC) at 56.1% of the portfolio, followed by Shattuck Labs (STTK, 42.3%) and Renasant (RNST, 1.6%). Compared with Q3 2024, it opened 1 new position and sold out of 2. The biggest buy was a new position in Renasant (RNST) and the biggest sale an exit from First Seacoast Bancorp (FSEA).
- Most Recent 13F
- Q2 2026
- Location
- MINNEAPOLIS, MN
- CIK
- 0000724683
- Portfolio Value
- $113K (Q4 2024)
- SEC Filing
- 0000724683-25-000006 ↗ filed Feb 10, 2025
Holdings Value
Holdings 3 stocks · $113K
| ACDC Profrac Holding Corp. Class A | 56.13% | 8,164 | $63K | No change |
| STTK Shattuck Labs Inc. | 42.31% | 39,467 | $48K | No change |
| RNST Renasant Corp. | 1.55% | 49 | $2K | New |
Other holdings (25): bonds, preferreds, convertibles and warrants · $131.0M (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| INSIGHT ENTERPRS (NSIT 0.75 02/15/25) | NOTE 0.750% 2/1 · principal | 9,901,000 | $21.1M | Add +96.4% |
| NATIONAL VISION HOLDINGS (EYE 2.5 05/15/25) | NOTE 2.500% 5/1 · principal | 11,630,000 | $11.4M | Add +271.6% |
| PEGASYSTEMS INC (PEGA 0.75 03/01/25) | NOTE 0.750% 3/0 · principal | 10,885,000 | $10.8M | No change |
| FIVERR INTERNATIONAL LTD (FVRR 0 11/01/25) | NOTE 11/0 · principal | 11,050,000 | $10.5M | Add +32.3% |
| I3 VERTICALS LLC (IIIV 1 02/15/25) | NOTE 1.000% 2/1 · principal | 9,550,000 | $9.4M | Add +367.9% |
| FIVE9 INC (FIVN 0.5 06/01/25) | NOTE 0.500% 6/0 · principal | 9,212,000 | $8.9M | Add +253.6% |
| HEALTH CATALYST INC (HCAT 2.5 04/15/25) | NOTE 2.500% 4/1 · principal | 8,790,000 | $8.6M | New |
| RINGCENTRAL INC (RNG 0 03/01/25) | NOTE 3/0 · principal | 7,063,000 | $7.0M | Add +82.8% |
| RWT HOLDINGS INC (RWT 5.75 10/01/25) | NOTE 5.750%10/0 · principal | 5,885,000 | $5.8M | Add +9.3% |
| INTEGRA LIFESCIENCES HLD (IART 0.5 08/15/25) | NOTE 0.500% 8/1 · principal | 5,500,000 | $5.3M | Add +175.0% |
| CHEGG INC (CHGG 0.125 03/15/25) | NOTE 0.125% 3/1 · principal | 5,000,000 | $4.8M | No change |
| WIX LTD (WIX 0 08/15/25) | NOTE 8/1 · principal | 5,000,000 | $4.8M | No change |
| GUIDEWIRE SOFTWARE INC (GWRE 1.25 03/15/25) | NOTE 1.250% 3/1 · principal | 2,064,000 | $3.0M | New |
| WAYFAIR INC (W 0.625 10/01/25) | NOTE 0.625%10/0 · principal | 3,090,000 | $3.0M | Add +3333.3% |
| LIVONGO HEALTH (TDOC 0.875 06/01/25) | NOTE 0.875% 6/0 · principal | 2,648,000 | $2.6M | Add +62.2% |
| PROSPECT CAPITAL CORP (PSEC 6.375 03/01/25) | NOTE 6.375% 3/0 · principal | 2,544,000 | $2.6M | No change |
| PACIRA BIOSCIENCES INC (PCRX 0.75 08/01/25) | NOTE 0.750% 8/0 · principal | 2,154,000 | $2.1M | Add +7.7% |
| NEOGENOMICS INC (NEO 1.25 05/01/25) | NOTE 1.250% 5/0 · principal | 2,000,000 | $2.0M | New |
| ARBOR REALTY TRUST INC (ABR 7.5 08/01/25) | NOTE 7.500% 8/0 · principal | 1,750,000 | $1.7M | No change |
| NUVASIVE INC (GMED 0.375 03/15/25) | NOTE 0.375% 3/1 · principal | 1,500,000 | $1.5M | No change |
| EVENTBRITE INC (EB 5 12/01/25) | NOTE 5.000%12/0 · principal | 1,500,000 | $1.5M | No change |
| MESA LABORATORIES INC (MLAB 1.375 08/15/25) | NOTE 1.375% 8/1 · principal | 1,500,000 | $1.5M | New |
| AFFIRM HOLDINGS INC (AFRM 0 11/15/26) | NOTE 11/1 · principal | 1,000,000 | $902K | No change |
| PAGERDUTY INC. (PD 1.25 07/01/25) | NOTE 1.250% 7/0 · principal | 200,000 | $193K | No change |
| REEWF Cartesian Growth Corp. II -28 | *W EXP 07/12/202 | 402,500 | $30K | No change |
Total filed on the 13F, all lines: $131.1M.
Portfolio Sells Q3 2024 → Q4 2024
Portfolio Buys Q3 2024 → Q4 2024
| RNST Renasant Corp. | New | 1.55% | +1.55 |
Notes & Other Activity Q3 2024 → Q4 2024
| INSIGHT ENTERPRS (NSIT 0.75 02/15/25) | NOTE 0.750% 2/1 · principal | Add +96.4% | 9,901,000 | $21.1M |
| BOOKING HOLDINGS INC (BKNG 0.75 05/01/25) | NOTE 0.750% 5/0 · principal | Sold out | 7,250,000 | $15.8Mbefore exit |
| PENNYMAC CORP (PMT 5.5 11/01/24) | NOTE 5.500%11/0 · principal | Sold out | 15,812,000 | $15.7Mbefore exit |
| CHART INDUSTRIES INC (GTLS 1 11/15/24) | NOTE 1.000%11/1 · principal | Sold out | 5,871,000 | $12.3Mbefore exit |
| LYFT INC (LYFT 1.5 05/15/25) | NOTE 1.500% 5/1 · principal | Sold out | 11,750,000 | $11.5Mbefore exit |
| NATIONAL VISION HOLDINGS (EYE 2.5 05/15/25) | NOTE 2.500% 5/1 · principal | Add +271.6% | 11,630,000 | $11.4M |
| FIVERR INTERNATIONAL LTD (FVRR 0 11/01/25) | NOTE 11/0 · principal | Add +32.3% | 11,050,000 | $10.5M |
| I3 VERTICALS LLC (IIIV 1 02/15/25) | NOTE 1.000% 2/1 · principal | Add +367.9% | 9,550,000 | $9.4M |
| FIVE9 INC (FIVN 0.5 06/01/25) | NOTE 0.500% 6/0 · principal | Add +253.6% | 9,212,000 | $8.9M |
| HEALTH CATALYST INC (HCAT 2.5 04/15/25) | NOTE 2.500% 4/1 · principal | New | 8,790,000 | $8.6M |
| RINGCENTRAL INC (RNG 0 03/01/25) | NOTE 3/0 · principal | Add +82.8% | 7,063,000 | $7.0M |
| RWT HOLDINGS INC (RWT 5.75 10/01/25) | NOTE 5.750%10/0 · principal | Add +9.3% | 5,885,000 | $5.8M |
| INTEGRA LIFESCIENCES HLD (IART 0.5 08/15/25) | NOTE 0.500% 8/1 · principal | Add +175.0% | 5,500,000 | $5.3M |
| ENVESTNET INC (ENV 0.75 08/15/25) | 0.75 8/15/2025 · principal | Sold out | 5,000,000 | $4.9Mbefore exit |
| ENVESTNET INC (ENV 2.625 12/01/27) | NOTE 2.625%12/0 · principal | Sold out | 4,000,000 | $4.3Mbefore exit |
| PARSONS CORP (PSN 0.25 08/15/25) | NOTE 0.250% 8/1 · principal | Sold out | 2,000,000 | $3.6Mbefore exit |
| BILIBILI INC (BILI 0.5 12/01/26) | NOTE 0.500%12/0 · principal | Sold out | 3,500,000 | $3.5Mbefore exit |
| GUIDEWIRE SOFTWARE INC (GWRE 1.25 03/15/25) | NOTE 1.250% 3/1 · principal | New | 2,064,000 | $3.0M |
| WAYFAIR INC (W 0.625 10/01/25) | NOTE 0.625%10/0 · principal | Add +3333.3% | 3,090,000 | $3.0M |
| LIVONGO HEALTH (TDOC 0.875 06/01/25) | NOTE 0.875% 6/0 · principal | Add +62.2% | 2,648,000 | $2.6M |
| PACIRA BIOSCIENCES INC (PCRX 0.75 08/01/25) | NOTE 0.750% 8/0 · principal | Add +7.7% | 2,154,000 | $2.1M |
| NEOGENOMICS INC (NEO 1.25 05/01/25) | NOTE 1.250% 5/0 · principal | New | 2,000,000 | $2.0M |
| MESA LABORATORIES INC (MLAB 1.375 08/15/25) | NOTE 1.375% 8/1 · principal | New | 1,500,000 | $1.5M |
| IONIS PHARMACEUTICALS IN (IONS 0.125 12/15/24) | NOTE 0.125%12/1 · principal | Sold out | 1,000,000 | $983Kbefore exit |
| AIR TRANSPORT SERVICES G (ATSG 1.125 10/15/24) | NOTE 1.125%10/1 · principal | Sold out | 801,000 | $804Kbefore exit |
| WAYFAIR INC (W 1.125 11/01/24) | NOTE 1.125%11/0 · principal | Sold out | 450,000 | $441Kbefore exit |
| PALO ALTO NETWORKS (PANW 0.375 06/01/25) | NOTE 0.375% 6/0 · principal | Sold out | 11,000 | $38Kbefore exit |
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 |