PIPER SANDLER & CO. — 13F Holdings & Portfolio
CIK 724683 · latest 13F-HR filed 2026-05-12
AUM is the long-equity portion reported on Form 13F-HR. Excludes short positions, cash, foreign holdings, and non-13F assets. For informational purposes only — not investment advice.
$102.0M
Long-equity book
21
Distinct positions
2026-03-31
Filed 2026-05-12
+11 / −16 / ↑6 / ↓2
vs 2025-12-31
| Name | Title / Status | Ownership | Type |
|---|
Top Adds (vs prior quarter)
- PENN ENTERTAINMENT INC$14.8M +354.5%
- CRACKER BARREL OLD CTRY STOR$8.2M +118.4%
- MGP INGREDIENTS INC NEW$6.8M +65.6%
- BLACKSTONE MORTGAGE TRUST IN$5.8M +458.3%
- UPSTART HLDGS INC$3.9M +81.1%
New Positions
- AMERICAN WTR CAP CORP$11.7M
- MARRIOTT VACATIONS WORLDWIDE$5.3M
- TELADOC HEALTH INC$4.7M
- REDWOOD TRUST INC$4.0M
- ZIFF DAVIS INC$2.6M
Exited Positions
- SUMMIT HOTEL PPTYS$19.6M
- JETBLUE AIRWAYS CORP$16.4M
- CABLE ONE INC$13.8M
- MARRIOTT VACATIONS WORLDWIDE$13.4M
- TWO HARBORS INVENTMENT CORPO$12.6M
Rows tagged Call or Put are options positions, not stock. Per SEC Form 13F-HR, Value shows the notional value of the underlying (shares covered × underlying price), not the option premium. Shares is the number of underlying shares covered (divide by 100 for contract count).
| # | Issuer | Symbol | CUSIP | Value | Weight | Shares | Type |
|---|---|---|---|---|---|---|---|
| 1 | PENN ENTERTAINMENT INC | PENN | 707569AU3 | $19.0M | 18.64% | 19,267,000 | PRN |
| 2 | MGP INGREDIENTS INC NEW | MGPI | 55303JAB2 | $17.2M | 16.83% | 18,027,000 | PRN |
| 3 | AMERICAN WTR CAP CORP | HIPH | 03040WBE4 | $11.7M | 11.46% | 11,830,000 | PRN |
| 4 | UPSTART HLDGS INC | UPST | 91680MAB3 | $8.7M | 8.54% | 8,956,000 | PRN |
| 5 | CRACKER BARREL OLD CTRY STOR | CBRL | 22410JAB2 | $8.6M | 8.39% | 8,750,000 | PRN |
| 6 | BLACKSTONE MORTGAGE TRUST IN | BXMT | 09257WAE0 | $7.1M | 6.95% | 7,183,000 | PRN |
| 7 | CRACKER BARREL OLD CTRY STOR | CBRL | 22410JAB2 | $6.5M | 6.39% | 6,670,000 | PRN |
| 8 | MARRIOTT VACATIONS WORLDWIDE | VAC | 57164YAF4 | $5.3M | 5.19% | 5,556,000 | PRN |
| 9 | TELADOC HEALTH INC | TDOC | 87918AAF2 | $4.7M | 4.59% | 4,932,000 | PRN |
| 10 | REDWOOD TRUST INC | RWT | 758075AF2 | $4.0M | 3.88% | 3,963,000 | PRN |
| 11 | ZIFF DAVIS INC | ZD | 48123VAE2 | $2.6M | 2.55% | 2,677,000 | PRN |
| 12 | UPWORK INC | UPWK | 91688FAB0 | $2.5M | 2.49% | 2,610,000 | PRN |
| 13 | DUKE ENERGY CORP NEW | DUKRD | 26441CBY0 | $1.9M | 1.87% | 1,706,000 | PRN |
| 14 | PROGRESS SOFTWARE CORP | PRGS | 743312AB6 | $897.8K | 0.88% | 900,000 | PRN |
| 15 | Q2 HLDGS INC | QTWO | 74736LAD1 | $387.4K | 0.38% | 390,000 | PRN |
| 16 | ZEO ENERGY CORP | ZEO | 98944F109 | $291.3K | 0.29% | 507,502 | SH |
| 17 | SHATTUCK LABS INC | STTK | 82024L103 | $253.8K | 0.25% | 39,467 | SH |
| 18 | AFFIRM HLDGS INC | AFRM | 00827BAB2 | $185.8K | 0.18% | 192,000 | PRN |
| 19 | COINBASE GLOBAL INC | COIN | 19260QAB3 | $137.9K | 0.14% | 139,000 | PRN |
| 20 | PEBBLEBROOK HOTEL TR | PEB | 70509VAA8 | $81.8K | 0.08% | 84,000 | PRN |
| 21 | WAYFAIR INC | W | 94419LAF8 | $32.0K | 0.03% | 34,000 | PRN |
| Period | Filed | AUM | Holdings | Accession |
|---|---|---|---|---|
| 2026-03-31 | 2026-05-12 | $102.0M | 21 | 0000724683-26-000047 |
| 2025-12-31 | 2026-02-12 | $141.2M | 25 | 0000724683-26-000006 |
| 2025-09-30 | 2025-11-12 | $139.3M | 24 | 0000724683-25-000131 |