13F Insight
DOSSIER · 13F-HR · Q2 2026

PIPER SANDLER & CO.

$135M in tracked AUM across 19 positions as of Q2 2026.

PS
CIK 0000724683 · last filed Jun 30, 2026
Total AUM
$135M
as of Q2 2026
Holdings
19
—
positions
Whale Score
71
71
strong
Activity
—
no data
changes this Q
AI Analysis · Q2 2026
Comprehensive Analysis of Piper Sandler & Co. SEC 13F Filing
1. Portfolio Overview

The filing for Piper Sandler & Co. (CIK: 0000724683) reveals a highly active and aggressive portfolio restructuring strategy for the quarter ending September 30, 2025. The total portfolio value increased by 7.1%, growing from $129.64 million to $138.87 million. Despite the modest growth in total value, the underlying composition of the portfolio underwent a radical transformation.

The firm manages a concent...

2. Key Holdings

The portfolio is dominated by a few high-conviction positions, with Sea Ltd standing out as the single largest holding. Valued at $24.57 million, Sea Ltd constitutes 17.69% of the portfolio. This represents a massive overweighting in a single equity, suggesting strong conviction in the Southeast Asian digital economy and e-commerce sector.

The second and third largest holdings, Fiverr Intl Ltd (10.70%) and RWT Hldgs Inc (9.02%), respectively, further illustrate the firm's eclectic mix. Fiverr represents a bet on the gig economy and tech-enabled services, while RWT provides exposure to credit-sensitive real estate finance.

Analysis generated by 13F Insight from SEC Form 13F filing data · Q2 2026. Methodology

Quarter at a glance — Q2 2026

Position-change comparison pending.

No quarter-over-quarter changes available.

Top 10 holdings

By portfolio weight as of Q2 2026.

#HoldingValueSharesWeight
01
LITE 0.5 06/15/28
LUMENTUM HLDGS INC
$32M5.0M23.9%02
AEIS 2.5 09/15/28
ADVANCED ENERGY INDS
$24M9.0M18.1%03
MGPI 1.875 11/15/41
MGP INGREDIENTS INC NEW
$17M18.0M12.9%04
UPST 0.25 08/15/26
UPSTART HLDGS INC
$9M9.2M6.7%05
BXMT 5.5 03/15/27
BLACKSTONE MORTGAGE TRUST IN
$9M9.0M6.6%06
STWD 6.75 07/15/27
STARWOOD PPTY TR INC
$8M8.0M6.0%07
RWT 7.75 06/15/27
REDWOOD TRUST INC
$7M7.0M5.2%08
FOUR 0.5 08/01/27
SHIFT4 PMTS INC
$7M7.3M5.1%09
VAC 3.25 12/15/27
MARRIOTT VACATIONS WORLDWIDE
$5M5.6M4.0%10
TDOC 1.25 06/01/27
TELADOC HEALTH INC
$5M4.9M3.5%

Filing history

2026Q2Jun 30
$135M▲ 32.2%
19 positionsView →2026Q1Mar 31
$102M▼ 27.7%
21 positionsView →2025Q4Dec 31
$141M▲ 1.7%
25 positionsView →2025Q3Sep 30
$139M▲ 7.1%
23 positionsView →2025Q2Jun 30
$130M▼ 2.5%
20 positionsLocked2025Q1Mar 31
$133M▲ 1.4%
29 positionsLocked2024Q4Dec 31
$131M▼ 11.5%
28 positionsLocked2024Q3Sep 30
$148M▲ 15.8%
37 positionsLocked2024Q2Jun 30
$128M▼ 11.9%
17 positionsLocked2024Q1Mar 31
$145M▲ 9.7%
22 positionsLocked2023Q4Dec 31
$132M▲ 25.4%
20 positionsLocked2023Q3Sep 30
$106M▲ 12.8%
10 positionsLocked
Showing 12 of 45