Vault-13

PIPER SANDLER COMPANIES PJC

COM · Common Stock · CUSIP 724078100

249 institutional holders +4 vs Q4 2022
12,352,76212.4m shares reported held*
$1.7bnreported value*
37 new 69 added 79 reduced 32 sold out net bought ≈ $90.5m (+651.0k shares)

* Summed across managers. Shares that two managers' reports both contain – a subsidiary's holdings that its parent's report includes too, or a sub-adviser's in its client's – are counted once ($739.6k this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $138.55. Options: 6 managers hold calls ($5.6m notional), 5 hold puts ($2.1m).

Trends to Q1 2023

Institutional holders

Managers reporting a position, each quarter

0100200300Q3 22: 242Q4 22: 245Q1 23: 249249Q3 22Q4 22Q1 23
Numbers
QuarterHolders
Q3 2022242
Q4 2022245
Q1 2023249

Buyers vs sellers

Managers adding to or starting a position, vs cutting or selling out

Bought or addedCut or sold out
2000200Q4 22: 106 bought or addedQ4 22: 96 cut or sold outQ4 22Q1 23: 106 bought or addedQ1 23: 111 cut or sold outQ1 23
Numbers
QuarterBought or addedCut or sold out
Q4 202210696
Q1 2023106111

Calls vs puts

Options held, notional value, last 4 quarters. P/C = puts ÷ calls

CallsPuts
$0$2.5m$5m$7.5m$10mQ3 22 calls: $3.3mQ3 22 puts: $1.3mQ3 22P/C 0.39Q4 22 calls: $5.7mQ4 22 puts: $8.2mQ4 22P/C 1.44Q1 23 calls: $5.6mQ1 23 puts: $2.1mQ1 23P/C 0.38
Numbers
QuarterCallsPutsP/C
Q3 2022$3.3m$1.3m0.39
Q4 2022$5.7m$8.2m1.44
Q1 2023$5.6m$2.1m0.38

Biggest buyers

FMR LLC Added +215,136+215.1k
LORD, ABBETT & CO. LLC Added +190,568+190.6k
VANGUARD GROUP INC Added +90,244+90.2k
Verition Fund Management LLC New +67,519+67.5k
Azora Capital LP New +60,352+60.4k
JANUS HENDERSON GROUP PLC Added +60,328+60.3k
Stephens Investment Management Group LLC Added +56,176+56.2k
Balyasny Asset Management L.P. Added +56,140+56.1k
PRW Wealth Management LLC New +51,398+51.4k
GREAT LAKES ADVISORS, LLC New +41,949+41.9k

Biggest sellers

PRINCIPAL FINANCIAL GROUP INC Reduced -194,782-194.8k
BlackRock Inc. Reduced -139,912-139.9k
MILLENNIUM MANAGEMENT LLC Reduced -37,940-37.9k
GOLDMAN SACHS GROUP INC Reduced -34,648-34.6k
Brandywine Global Investment Management, LLC Sold out -33,860-33.9k
Nuveen Asset Management, LLC Reduced -22,079-22.1k
ASSETMARK, INC Reduced -16,347-16.3k
RENAISSANCE TECHNOLOGIES LLC Reduced -14,000-14.0k
WESTWOOD HOLDINGS GROUP INC Reduced -13,205-13.2k
OCCUDO QUANTITATIVE STRATEGIES LP Sold out -12,354-12.4k

Biggest calls

SUSQUEHANNA INTERNATIONAL GROUP, LLP Added $2.8m20.1k shares
PEAK6 Investments LLC Reduced $2.0m14.4k shares
SIMPLEX TRADING, LLC New $332.0k2.4k shares
WOLVERINE TRADING, LLC New $295.0k2.2k shares
CITADEL ADVISORS LLC Reduced $194.1k1.4k shares
CONCOURSE FINANCIAL GROUP SECURITIES, INC. Unchanged $00 shares

Biggest puts

WOLVERINE TRADING, LLC New $1.1m8.4k shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced $443.6k3.2k shares
CITADEL ADVISORS LLC Reduced $291.1k2.1k shares
PEAK6 Investments LLC Unchanged $263.4k1.9k shares
CONCOURSE FINANCIAL GROUP SECURITIES, INC. Unchanged $00 shares

Options at notional value: the value of the shares the contracts control, as filers report them, not what the options cost. Not included in the holders, shares or buying above.

Major shareholders (over 5%)

Anyone who owns more than 5% of a class of the company's shares has to say so: on Schedule 13D if they may try to influence or control the company, on 13G if they're a passive investor, and update it as the stake changes. Each holder's latest filing, from 19 Dec 2024 on; percentages are of the share class, as the holder worked them out.

No one currently above 5% in the filings since 19 Dec 2024.

Fell to 5% or below in the last year: VANGUARD GROUP INC (0.0%, 2026-03-27)

Holders, Q1 2023

#ManagerLocationShares Value% of their portfolioChangeShares change
1 BlackRock Inc. 0.01% of their portfolio New York, NY 2,403,9742.4m $333.2m $333.2m 0.01% Reduced -139.9k -139,912
2 VANGUARD GROUP INC 0.01% of their portfolio Valley Forge, PA 1,921,2441.9m $266.3m $266.3m 0.01% Added +90.2k +90,244
3 LORD, ABBETT & CO. LLC 0.15% of their portfolio JERSEY CITY, NJ 582,090582.1k $80.7m $80.7m 0.15% Added +190.6k +190,568
4 STATE STREET CORP 0.00% of their portfolio BOSTON, MA 572,255572.3k $79.3m $79.3m 0.00% Added +15.7k +15,691
5 DIMENSIONAL FUND ADVISORS LP 0.02% of their portfolio AUSTIN, TX 484,291484.3k $67.1m $67.1m 0.02% Added +2.9k +2,876
6 Stephens Investment Management Group LLC 1.01% of their portfolio LITTLE ROCK, AR 436,340436.3k $60.5m $60.5m 1.01% Added +56.2k +56,176
7 GW&K Investment Management, LLC 0.58% of their portfolio BOSTON, MA 435,549435.5k $60.4m $60.4m 0.58% Added +4.3k +4,280
8 WESTWOOD HOLDINGS GROUP INC 0.53% of their portfolio DALLAS, TX 421,710421.7k $58.5m $58.5m 0.53% Reduced -13.2k -13,205
9 GEODE CAPITAL MANAGEMENT, LLC 0.01% of their portfolio BOSTON, MA 297,608297.6k $41.3m $41.3m 0.01% Added +8.6k +8,566
10 Nuveen Asset Management, LLC 0.02% of their portfolio CHICAGO, IL 297,458297.5k $41.2m $41.2m 0.02% Reduced -22.1k -22,079
11 SYSTEMATIC FINANCIAL MANAGEMENT LP 1.14% of their portfolio TEANECK, NJ 251,212251.2k $34.8m $34.8m 1.14% Reduced -937 -937
12 JANUS HENDERSON GROUP PLC 0.02% of their portfolio LONDON, X0 247,952248.0k $34.4m $34.4m 0.02% Added +60.3k +60,328
13 Invesco Ltd. 0.01% of their portfolio ATLANTA, GA 231,500231.5k $32.1m $32.1m 0.01% Added +9.4k +9,405
14 FMR LLC 0.00% of their portfolio BOSTON, MA 219,120219.1k $30.4m $30.4m 0.00% Added +215.1k +215,136
15 Bank of New York Mellon Corp 0.01% of their portfolio NEW YORK, NY 184,401184.4k $25.6m $25.6m 0.01% Reduced -7.5k -7,457
16 GOLDMAN SACHS GROUP INC 0.01% of their portfolio NEW YORK, NY 181,121181.1k $25.1m $25.1m 0.01% Reduced -34.6k -34,648
17 NORTHERN TRUST CORP 0.00% of their portfolio CHICAGO, IL 176,450176.4k $24.5m $24.5m 0.00% Reduced -2.6k -2,576
18 NORGES BANK 0.01% of their portfolio OSLO, Q8 175,042175.0k $24.3m $24.3m 0.01% Added +31.5k +31,533
19 CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.01% of their portfolio SAN FRANCISCO, CA 158,549158.5k $22.0m $22.0m 0.01% Added +1.6k +1,585
20 Balyasny Asset Management L.P. 0.07% of their portfolio Chicago, IL 155,544155.5k $21.6m $21.6m 0.07% Added +56.1k +56,140
21 AMERICAN CENTURY COMPANIES INC 0.01% of their portfolio KANSAS CITY, MO 138,649138.6k $18.6m $18.6m 0.01% Added +14.1k +14,081
22 Fisher Asset Management, LLC 0.01% of their portfolio PLANO, TX 129,147129.1k $17.9m $17.9m 0.01% Reduced -7.3k -7,315
23 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 106,020106.0k $14.7m $14.7m 0.00% Added +2.3k +2,309
24 KENNEDY CAPITAL MANAGEMENT LLC 0.39% of their portfolio ST LOUIS, MO 96,76996.8k $13.4m $13.4m 0.39% Reduced -6.5k -6,524
25 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 89,00389.0k $12.3m $12.3m 0.00% Added +36.6k +36,557
26 RENAISSANCE TECHNOLOGIES LLC 0.02% of their portfolio NEW YORK, NY 86,19586.2k $11.9m $11.9m 0.02% Reduced -14.0k -14,000
27 PRINCIPAL FINANCIAL GROUP INC 0.01% of their portfolio DES MOINES, IA 83,34383.3k $11.6m $11.6m 0.01% Reduced -194.8k -194,782
28 Verition Fund Management LLC 0.15% of their portfolio GREENWICH, CT 67,51967.5k $9.4m $9.4m 0.15% New
29 Allspring Global Investments Holdings, LLC 0.01% of their portfolio CHARLOTTE, NC 61,09761.1k $8.5m $8.5m 0.01% Reduced -10.9k -10,886
30 Azora Capital LP 1.28% of their portfolio MIAMI, FL 60,35260.4k $8.4m $8.4m 1.28% New
31 NORDEA INVESTMENT MANAGEMENT AB 0.01% of their portfolio STOCKHOLM, V7 59,66859.7k $8.1m $8.1m 0.01% Reduced -962 -962
32 PRUDENTIAL FINANCIAL INC 0.01% of their portfolio NEWARK, NJ 56,73656.7k $7.9m $7.9m 0.01% Added +14.6k +14,585
33 AMERIPRISE FINANCIAL INC 0.00% of their portfolio MINNEAPOLIS, MN 52,77352.8k $7.3m $7.3m 0.00% Reduced -3.4k -3,391
34 PRW Wealth Management LLC 2.72% of their portfolio QUINCY, MA 51,39851.4k $7.0m $7.0m 2.72% New
35 RHUMBLINE ADVISERS 0.01% of their portfolio BOSTON, MA 50,87250.9k $7.1m $7.1m 0.01% Added +1.8k +1,815
36 Legal & General Group Plc 0.00% of their portfolio London, X0 43,29443.3k $6.0m $6.0m 0.00% Reduced -534 -534
37 GREAT LAKES ADVISORS, LLC 0.05% of their portfolio CHICAGO, IL 41,94941.9k $5.8m $5.8m 0.05% New
38 Swiss National Bank 0.00% of their portfolio ZURICH, V8 38,50038.5k $5.3m $5.3m 0.00% Reduced -3.7k -3,700
39 ENVESTNET ASSET MANAGEMENT INC 0.00% of their portfolio Berwyn, PA 36,59036.6k $5.1m $5.1m 0.00% Reduced -3.8k -3,771
40 BRIDGEWAY CAPITAL MANAGEMENT, LLC 0.13% of their portfolio HOUSTON, TX 35,20035.2k $4.9m $4.9m 0.13% Reduced -600 -600
41 NEW YORK STATE TEACHERS RETIREMENT SYSTEM 0.01% of their portfolio ALBANY, NY 32,43932.4k $4.5m $4.5m 0.01% Reduced -800 -800
42 BANK OF AMERICA CORP /DE/ 0.00% of their portfolio CHARLOTTE, NC 30,13830.1k $4.2m $4.2m 0.00% Added +3.8k +3,827
43 JACOBS LEVY EQUITY MANAGEMENT, INC 0.03% of their portfolio FLORHAM PARK, NJ 29,81829.8k $4.1m $4.1m 0.03% New
44 STATE OF WISCONSIN INVESTMENT BOARD 0.01% of their portfolio MADISON, WI 29,71929.7k $4.1m $4.1m 0.01% Reduced -2.6k -2,554
45 RAYMOND JAMES & ASSOCIATES 0.00% of their portfolio ST PETERSBURG, FL 27,45927.5k $3.8m $3.8m 0.00% Reduced -320 -320
46 FIRST TRUST ADVISORS LP 0.00% of their portfolio Wheaton, IL 27,35327.4k $3.8m $3.8m 0.00% Reduced -9.4k -9,386
47 TRUIST FINANCIAL CORP 0.01% of their portfolio CHARLOTTE, NC 26,54726.5k $3.7m $3.7m 0.01% Reduced -87 -87
48 PUBLIC EMPLOYEES RETIREMENT SYSTEM OF OHIO 0.02% of their portfolio COLUMBUS, OH 26,29626.3k $3.6m $3.6m 0.02% Added +19 +19
49 North Reef Capital Management LP 0.39% of their portfolio LAGUNA BEACH, CA 25,00025.0k $3.5m $3.5m 0.39% New
50 Public Sector Pension Investment Board 0.03% of their portfolio MONTREAL, A8 24,09524.1k $3.3m $3.3m 0.03% Reduced -1.6k -1,615
51 ALLIANCEBERNSTEIN L.P. 0.00% of their portfolio NASHVILLE, TN 23,63923.6k $3.3m $3.3m 0.00% Reduced -2.1k -2,086
52 Orion Porfolio Solutions, LLC 0.04% of their portfolio OMAHA, NE 23,10723.1k $3.2m $3.2m 0.04% Reduced -532 -532
53 Orion Portfolio Solutions, LLC 0.04% of their portfolio Omaha, NE 23,10723.1k $3.2m $3.2m 0.04% New
54 CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM 0.00% of their portfolio WEST SACRAMENTO, CA 22,13422.1k $3.1m $3.1m 0.00% Added +22 +22
55 STRS OHIO 0.00% of their portfolio COLUMBUS, OH 21,60021.6k $3.0m $3.0m 0.00% Added +21.5k +21,500
56 ROYAL BANK OF CANADA 0.00% of their portfolio TORONTO, A6 21,49021.5k $3.0m $3.0m 0.00% Reduced -2.5k -2,458
57 UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.00% of their portfolio NEW YORK, NY 20,33420.3k $2.8m $2.8m 0.00% Reduced -678 -678
58 Greenwich Wealth Management LLC 0.30% of their portfolio GREENWICH, CT 20,15520.2k $2.8m $2.8m 0.30% Reduced -435 -435
59 AQR CAPITAL MANAGEMENT LLC 0.01% of their portfolio Greenwich, CT 19,08019.1k $2.6m $2.6m 0.01% Added +13.6k +13,602
60 Vident Investment Advisory, LLC 0.08% of their portfolio Alpharetta, GA 17,33917.3k $2.4m $2.4m 0.08% New
61 Qube Research & Technologies Ltd 0.01% of their portfolio LONDON, X0 17,14917.1k $2.4m $2.4m 0.01% New
62 Knights of Columbus Asset Advisors LLC 0.23% of their portfolio NEW HAVEN, CT 16,92916.9k $2.3m $2.3m 0.23% Added +129 +129
63 CREDIT SUISSE AG/ 0.00% of their portfolio ZURICH, V8 15,95216.0k $2.2m $2.2m 0.00% Added +1.3k +1,328
64 State of New Jersey Common Pension Fund D 0.01% of their portfolio TRENTON, NJ 15,83615.8k $2.2m $2.2m 0.01% Unchanged
65 COMMONWEALTH OF PENNSYLVANIA PUBLIC SCHOOL EMPLS RETRMT SYS 0.02% of their portfolio HARRISBURG, PA 14,50614.5k $2.0m $2.0m 0.02% Reduced -618 -618
66 NATIXIS ADVISORS, LLC 0.01% of their portfolio Boston, MA 14,44914.4k $2.0m $2.0m 0.01% Added +2.0k +1,999
67 WEALTH ENHANCEMENT ADVISORY SERVICES, LLC 0.02% of their portfolio PLYMOUTH, MN 13,73613.7k $1.9m $1.9m 0.02% New
68 Thrivent Financial for Lutherans 0.00% of their portfolio Minneapolis, MN 13,57713.6k $1.9m $1.9m 0.00% Reduced -919 -919
69 CANADA LIFE ASSURANCE Co 0.00% of their portfolio WINNIPEG, A2 13,30913.3k $1.8m $1.8m 0.00% Reduced -1.2k -1,226
70 TEXAS PERMANENT SCHOOL FUND CORP 0.02% of their portfolio AUSTIN, TX 12,28612.3k $1.7m $1.7m 0.02% Added +2.8k +2,785
71 DEUTSCHE BANK AG\ 0.00% of their portfolio FRANKFURT AM MAIN, 2M 12,00512.0k $1.7m $1.7m 0.00% Added +3.3k +3,264
72 BNP PARIBAS FINANCIAL MARKETS 0.00% of their portfolio PARIS, I0 11,90211.9k $1.6m $1.6m 0.00% Added +6.5k +6,495
73 VIRGINIA RETIREMENT SYSTEMS ET Al 0.02% of their portfolio RICHMOND, VA 11,80011.8k $1.6m $1.6m 0.02% Added +100 +100
74 Russell Investments Group, Ltd. 0.00% of their portfolio Seattle, WA 11,78011.8k $1.6m $1.6m 0.00% New
75 BARCLAYS PLC 0.00% of their portfolio LONDON, X0 11,35711.4k $1.6m $1.6m 0.00% Reduced -33 -33
76 JAMES INVESTMENT RESEARCH, INC. 0.21% of their portfolio ALPHA, OH 11,24211.2k $1.6m $1.6m 0.21% Added +36 +36
77 SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.00% of their portfolio BALA CYNWYD, PA 10,65710.7k $1.5m $1.5m 0.00% Added +1.8k +1,779
78 Coho Partners, Ltd. 0.02% of their portfolio BERWYN, PA 10,31310.3k $1.4m $1.4m 0.02% Added +8.5k +8,545
79 MAIRS & POWER INC 0.02% of their portfolio St Paul, MN 9,99310.0k $1.4m $1.4m 0.02% New
80 NEW YORK STATE COMMON RETIREMENT FUND 0.00% of their portfolio ALBANY, NY 9,95110.0k $1.4m $1.4m 0.00% Reduced -2.9k -2,895
81 MARTINGALE ASSET MANAGEMENT L P 0.03% of their portfolio BOSTON, MA 9,9319.9k $1.4m $1.4m 0.03% Added +2.6k +2,604
82 NISA INVESTMENT ADVISORS, LLC 0.01% of their portfolio ST. LOUIS, MO 9,7369.7k $1.4m $1.4m 0.01% Added +3.0k +2,975
83 TEACHER RETIREMENT SYSTEM OF TEXAS 0.01% of their portfolio AUSTIN, TX 9,6669.7k $1.3m $1.3m 0.01% Added +3.3k +3,346
84 WELLS FARGO & COMPANY/MN 0.00% of their portfolio SAN FRANCISCO, CA 9,4979.5k $1.3m $1.3m 0.00% Added +3.7k +3,699
85 NorthCrest Asset Manangement, LLC 0.05% of their portfolio PLYMOUTH, MN 9,4509.4k $1.3m $1.3m 0.05% Added +250 +250
86 State of Alaska, Department of Revenue 0.02% of their portfolio JUNEAU, AK 9,3819.4k $1.3m $1.3m 0.02% Reduced -459 -459
87 AMERICAN INTERNATIONAL GROUP, INC. 0.01% of their portfolio New York, NY 9,2579.3k $1.3m $1.3m 0.01% Added +38 +38
88 MetLife Investment Management, LLC 0.01% of their portfolio Whippany, NJ 9,0329.0k $1.3m $1.3m 0.01% Reduced -272 -272
89 UBS Group AG 0.00% of their portfolio ZURICH, V8 8,8578.9k $1.2m $1.2m 0.00% Added +1.4k +1,385
90 VICTORY CAPITAL MANAGEMENT INC 0.00% of their portfolio San Antonio, TX 8,7308.7k $1.2m $1.2m 0.00% Reduced -93 -93
91 YOUSIF CAPITAL MANAGEMENT, LLC 0.01% of their portfolio BLOOMFIELD HILLS, MI 8,2658.3k $1.1m $1.1m 0.01% Reduced -1.2k -1,200
92 US BANCORP \DE\ 0.00% of their portfolio MINNEAPOLIS, MN 8,2358.2k $1.1m $1.1m 0.00% Reduced -1.1k -1,137
93 Ziegler Capital Management, LLC 0.04% of their portfolio CHICAGO, IL 8,2028.2k $1.1m $1.1m 0.04% Added +81 +81
94 CITIGROUP INC 0.00% of their portfolio NEW YORK, NY 7,8587.9k $1.1m $1.1m 0.00% Reduced -1.8k -1,798
95 OPPENHEIMER ASSET MANAGEMENT INC. 0.02% of their portfolio NEW YORK, NY 7,7577.8k $1.1m $1.1m 0.02% Added +32 +32
96 O'SHAUGHNESSY ASSET MANAGEMENT, LLC 0.02% of their portfolio Stamford, CT 7,6827.7k $1.1m $1.1m 0.02% Added +723 +723
97 Vestcor Inc 0.04% of their portfolio FREDERICTON, A3 7,4667.5k $1.0m $1.0m 0.04% Unchanged
98 PANAGORA ASSET MANAGEMENT INC 0.01% of their portfolio BOSTON, MA 7,3077.3k $1.0m $1.0m 0.01% Unchanged
99 BlueCrest Capital Management Ltd 0.11% of their portfolio ST HELIER, Y9 7,2007.2k $998.0k $998.0k 0.11% New
100 MANUFACTURERS LIFE INSURANCE COMPANY, THE 0.00% of their portfolio Toronto, A6 6,8786.9k $953.4k $953.4k 0.00% Added +31 +31