Vault-13

PIPER SANDLER COMPANIES PJC

COM · Common Stock · CUSIP 724078100

235 institutional holders -14 vs Q1 2023
12,387,97312.4m shares reported held*
$1.6bnreported value*
21 new 74 added 75 reduced 38 sold out net sold ≈ $2.5m (-17.6k 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 ($657.8k this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $128.80. Options: 6 managers hold calls ($2.2m notional), 5 hold puts ($2.5m).

Trends to Q2 2023

Institutional holders

Managers reporting a position, each quarter

0100200300Q3 22: 242Q4 22: 245Q1 23: 249Q2 23: 235235Q3 22Q4 22Q1 23Q2 23
Numbers
QuarterHolders
Q3 2022242
Q4 2022245
Q1 2023249
Q2 2023235

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 23Q2 23: 95 bought or addedQ2 23: 113 cut or sold outQ2 23
Numbers
QuarterBought or addedCut or sold out
Q4 202210696
Q1 2023106111
Q2 202395113

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 0.38Q2 23 calls: $2.2mQ2 23 puts: $2.5mQ2 23P/C 1.12
Numbers
QuarterCallsPutsP/C
Q3 2022$3.3m$1.3m0.39
Q4 2022$5.7m$8.2m1.44
Q1 2023$5.6m$2.1m0.38
Q2 2023$2.2m$2.5m1.12

Biggest buyers

WESTWOOD HOLDINGS GROUP INC Added +125,659+125.7k
North Reef Capital Management LP Added +75,631+75.6k
JANUS HENDERSON GROUP PLC Added +69,845+69.8k
HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND New +46,700+46.7k
Schonfeld Strategic Advisors LLC New +32,235+32.2k
MILLENNIUM MANAGEMENT LLC Added +29,569+29.6k
STATE STREET CORP Added +23,704+23.7k
Edgestream Partners, L.P. New +21,278+21.3k
Verition Fund Management LLC Added +18,631+18.6k
BlackRock Inc. Added +17,862+17.9k

Biggest sellers

Balyasny Asset Management L.P. Reduced -119,626-119.6k
FMR LLC Reduced -81,057-81.1k
LORD, ABBETT & CO. LLC Reduced -79,014-79.0k
Azora Capital LP Sold out -60,352-60.4k
NORGES BANK Reduced -30,539-30.5k
JACOBS LEVY EQUITY MANAGEMENT, INC Sold out -29,818-29.8k
FIRST TRUST ADVISORS LP Reduced -17,940-17.9k
NORDEA INVESTMENT MANAGEMENT AB Reduced -16,608-16.6k
AMERICAN CENTURY COMPANIES INC Reduced -15,530-15.5k
PRUDENTIAL FINANCIAL INC Reduced -14,745-14.7k

Biggest calls

WOLVERINE TRADING, LLC Added $587.6k4.5k shares
GROUP ONE TRADING LLC New $568.7k4.4k shares
CITADEL ADVISORS LLC Added $542.9k4.2k shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced $504.1k3.9k shares
SIMPLEX TRADING, LLC Reduced $12.0k100 shares
CONCOURSE FINANCIAL GROUP SECURITIES, INC. Unchanged $00 shares

Biggest puts

WOLVERINE TRADING, LLC Reduced $1.0m8.0k shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Added $788.5k6.1k shares
CITADEL ADVISORS LLC Added $478.3k3.7k shares
GROUP ONE TRADING LLC New $168.0k1.3k 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, Q2 2023

#ManagerLocationShares Value% of their portfolioChangeShares change
1 BlackRock Inc. 0.01% of their portfolio New York, NY 2,421,8362.4m $313.0m $313.0m 0.01% Added +17.9k +17,862
2 VANGUARD GROUP INC 0.01% of their portfolio Valley Forge, PA 1,926,2051.9m $249.0m $249.0m 0.01% Added +5.0k +4,961
3 STATE STREET CORP 0.00% of their portfolio BOSTON, MA 595,959596.0k $77.0m $77.0m 0.00% Added +23.7k +23,704
4 WESTWOOD HOLDINGS GROUP INC 0.63% of their portfolio DALLAS, TX 547,369547.4k $70.8m $70.8m 0.63% Added +125.7k +125,659
5 LORD, ABBETT & CO. LLC 0.11% of their portfolio JERSEY CITY, NJ 503,076503.1k $65.0m $65.0m 0.11% Reduced -79.0k -79,014
6 DIMENSIONAL FUND ADVISORS LP 0.02% of their portfolio AUSTIN, TX 497,264497.3k $64.3m $64.3m 0.02% Added +13.0k +12,973
7 Stephens Investment Management Group LLC 0.90% of their portfolio LITTLE ROCK, AR 446,773446.8k $57.7m $57.7m 0.90% Added +10.4k +10,433
8 GW&K Investment Management, LLC 0.53% of their portfolio BOSTON, MA 428,921428.9k $55.4m $55.4m 0.53% Reduced -6.6k -6,628
9 JANUS HENDERSON GROUP PLC 0.03% of their portfolio LONDON, X0 317,797317.8k $41.1m $41.1m 0.03% Added +69.8k +69,845
10 GEODE CAPITAL MANAGEMENT, LLC 0.00% of their portfolio BOSTON, MA 306,942306.9k $39.7m $39.7m 0.00% Added +9.3k +9,334
11 Nuveen Asset Management, LLC 0.01% of their portfolio CHICAGO, IL 288,436288.4k $37.3m $37.3m 0.01% Reduced -9.0k -9,022
12 SYSTEMATIC FINANCIAL MANAGEMENT LP 0.96% of their portfolio TEANECK, NJ 236,508236.5k $30.6m $30.6m 0.96% Reduced -14.7k -14,704
13 Invesco Ltd. 0.01% of their portfolio ATLANTA, GA 229,565229.6k $29.7m $29.7m 0.01% Reduced -1.9k -1,935
14 NORTHERN TRUST CORP 0.00% of their portfolio CHICAGO, IL 185,344185.3k $24.0m $24.0m 0.00% Added +8.9k +8,894
15 Bank of New York Mellon Corp 0.00% of their portfolio NEW YORK, NY 180,670180.7k $23.4m $23.4m 0.00% Reduced -3.7k -3,731
16 GOLDMAN SACHS GROUP INC 0.01% of their portfolio NEW YORK, NY 176,158176.2k $22.8m $22.8m 0.01% Reduced -5.0k -4,963
17 CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.01% of their portfolio SAN FRANCISCO, CA 168,811168.8k $21.8m $21.8m 0.01% Added +10.3k +10,262
18 NORGES BANK 0.00% of their portfolio OSLO, Q8 144,503144.5k $18.7m $18.7m 0.00% Reduced -30.5k -30,539
19 FMR LLC 0.00% of their portfolio BOSTON, MA 138,063138.1k $17.8m $17.8m 0.00% Reduced -81.1k -81,057
20 AMERICAN CENTURY COMPANIES INC 0.01% of their portfolio KANSAS CITY, MO 123,119123.1k $15.9m $15.9m 0.01% Reduced -15.5k -15,530
21 Fisher Asset Management, LLC 0.01% of their portfolio PLANO, TX 123,068123.1k $15.9m $15.9m 0.01% Reduced -6.1k -6,079
22 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 113,915113.9k $14.7m $14.7m 0.00% Added +7.9k +7,895
23 KENNEDY CAPITAL MANAGEMENT LLC 0.33% of their portfolio ST LOUIS, MO 110,844110.8k $14.3m $14.3m 0.33% Added +14.1k +14,075
24 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 104,719104.7k $13.5m $13.5m 0.00% Added +15.7k +15,716
25 North Reef Capital Management LP 1.00% of their portfolio LAGUNA BEACH, CA 100,631100.6k $13.0m $13.0m 1.00% Added +75.6k +75,631
26 PRINCIPAL FINANCIAL GROUP INC 0.01% of their portfolio DES MOINES, IA 87,83287.8k $11.4m $11.4m 0.01% Added +4.5k +4,489
27 Verition Fund Management LLC 0.17% of their portfolio GREENWICH, CT 86,15086.2k $11.1m $11.1m 0.17% Added +18.6k +18,631
28 RENAISSANCE TECHNOLOGIES LLC 0.01% of their portfolio NEW YORK, NY 79,69579.7k $10.3m $10.3m 0.01% Reduced -6.5k -6,500
29 Allspring Global Investments Holdings, LLC 0.01% of their portfolio CHARLOTTE, NC 60,09760.1k $7.8m $7.8m 0.01% Reduced -1.0k -1,000
30 AMERIPRISE FINANCIAL INC 0.00% of their portfolio MINNEAPOLIS, MN 53,52553.5k $6.9m $6.9m 0.00% Added +752 +752
31 COMERICA BANK 0.00% of their portfolio DALLAS, TX 52,48452.5k $0 $0 0.00% First filing
32 PRW Wealth Management LLC 2.53% of their portfolio QUINCY, MA 51,39851.4k $7.4m $7.4m 2.53% Unchanged
33 RHUMBLINE ADVISERS 0.01% of their portfolio BOSTON, MA 50,01550.0k $6.5m $6.5m 0.01% Reduced -857 -857
34 HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND 0.03% of their portfolio TORONTO, A6 46,70046.7k $6.0m $6.0m 0.03% New
35 Legal & General Group Plc 0.00% of their portfolio London, X0 45,16745.2k $5.8m $5.8m 0.00% Added +1.9k +1,873
36 NORDEA INVESTMENT MANAGEMENT AB 0.01% of their portfolio STOCKHOLM, V7 43,06043.1k $5.7m $5.7m 0.01% Reduced -16.6k -16,608
37 GREAT LAKES ADVISORS, LLC 0.05% of their portfolio CHICAGO, IL 42,41942.4k $5.5m $5.5m 0.05% Added +470 +470
38 PRUDENTIAL FINANCIAL INC 0.01% of their portfolio NEWARK, NJ 41,99142.0k $5.4m $5.4m 0.01% Reduced -14.7k -14,745
39 Swiss National Bank 0.00% of their portfolio ZURICH, V8 38,70038.7k $5.0m $5.0m 0.00% Added +200 +200
40 ENVESTNET ASSET MANAGEMENT INC 0.00% of their portfolio Berwyn, PA 36,59736.6k $4.7m $4.7m 0.00% Added +7 +7
41 Balyasny Asset Management L.P. 0.01% of their portfolio Chicago, IL 35,91835.9k $4.6m $4.6m 0.01% Reduced -119.6k -119,626
42 MILLENNIUM MANAGEMENT LLC 0.00% of their portfolio NEW YORK, NY 35,82635.8k $4.6m $4.6m 0.00% Added +29.6k +29,569
43 Schonfeld Strategic Advisors LLC 0.04% of their portfolio NEW YORK, NY 32,23532.2k $4.2m $4.2m 0.04% New
44 NEW YORK STATE TEACHERS RETIREMENT SYSTEM 0.01% of their portfolio ALBANY, NY 31,83931.8k $4.1m $4.1m 0.01% Reduced -600 -600
45 STATE OF WISCONSIN INVESTMENT BOARD 0.01% of their portfolio MADISON, WI 28,37728.4k $3.7m $3.7m 0.01% Reduced -1.3k -1,342
46 RAYMOND JAMES & ASSOCIATES 0.00% of their portfolio ST PETERSBURG, FL 28,24028.2k $3.7m $3.7m 0.00% Added +781 +781
47 PUBLIC EMPLOYEES RETIREMENT SYSTEM OF OHIO 0.01% of their portfolio COLUMBUS, OH 26,31226.3k $3.4m $3.4m 0.01% Added +16 +16
48 TRUIST FINANCIAL CORP 0.01% of their portfolio CHARLOTTE, NC 26,21526.2k $3.4m $3.4m 0.01% Reduced -332 -332
49 Public Sector Pension Investment Board 0.02% of their portfolio MONTREAL, A8 26,19226.2k $3.4m $3.4m 0.02% Added +2.1k +2,097
50 MAIRS & POWER INC 0.04% of their portfolio St Paul, MN 25,69825.7k $3.3m $3.3m 0.04% Added +15.7k +15,705
51 ROYAL BANK OF CANADA 0.00% of their portfolio TORONTO, A6 25,50825.5k $3.3m $3.3m 0.00% Added +4.0k +4,018
52 ALLIANCEBERNSTEIN L.P. 0.00% of their portfolio NASHVILLE, TN 23,63923.6k $3.1m $3.1m 0.00% Unchanged
53 BRIDGEWAY CAPITAL MANAGEMENT, LLC 0.07% of their portfolio HOUSTON, TX 23,30023.3k $3.0m $3.0m 0.07% Reduced -11.9k -11,900
54 Orion Porfolio Solutions, LLC 0.03% of their portfolio OMAHA, NE 21,98222.0k $2.8m $2.8m 0.03% Reduced -1.1k -1,125
55 Orion Portfolio Solutions, LLC 0.03% of their portfolio Omaha, NE 21,98222.0k $2.8m $2.8m 0.03% Reduced -1.1k -1,125
56 CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM 0.00% of their portfolio WEST SACRAMENTO, CA 21,40321.4k $2.8m $2.8m 0.00% Reduced -731 -731
57 Edgestream Partners, L.P. 0.25% of their portfolio Princeton, NJ 21,27821.3k $2.8m $2.8m 0.25% New
58 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% Unchanged
59 Greenwich Wealth Management LLC 0.27% of their portfolio GREENWICH, CT 20,13220.1k $2.6m $2.6m 0.27% Reduced -23 -23
60 State of New Jersey Common Pension Fund D 0.01% of their portfolio TRENTON, NJ 18,81018.8k $2.4m $2.4m 0.01% Added +3.0k +2,974
61 BANK OF AMERICA CORP /DE/ 0.00% of their portfolio CHARLOTTE, NC 18,69018.7k $2.4m $2.4m 0.00% Reduced -11.4k -11,448
62 CREDIT SUISSE AG/ 0.00% of their portfolio ZURICH, V8 18,54318.5k $2.4m $2.4m 0.00% Added +2.6k +2,591
63 Vident Investment Advisory, LLC 0.08% of their portfolio Alpharetta, GA 17,78517.8k $2.3m $2.3m 0.08% Added +446 +446
64 Knights of Columbus Asset Advisors LLC 0.20% of their portfolio NEW HAVEN, CT 16,96917.0k $2.2m $2.2m 0.20% Added +40 +40
65 COMMONWEALTH OF PENNSYLVANIA PUBLIC SCHOOL EMPLS RETRMT SYS 0.02% of their portfolio HARRISBURG, PA 16,68016.7k $2.2m $2.2m 0.02% Added +2.2k +2,174
66 NATIXIS ADVISORS, LLC 0.01% of their portfolio Boston, MA 14,23314.2k $1.8m $1.8m 0.01% Reduced -216 -216
67 Thrivent Financial for Lutherans 0.00% of their portfolio Minneapolis, MN 14,11614.1k $1.8m $1.8m 0.00% Added +539 +539
68 SEI INVESTMENTS CO 0.00% of their portfolio OAKS, PA 13,98414.0k $1.8m $1.8m 0.00% Added +8.0k +7,970
69 WEALTH ENHANCEMENT ADVISORY SERVICES, LLC 0.02% of their portfolio PLYMOUTH, MN 13,73613.7k $1.8m $1.8m 0.02% Unchanged
70 UBS Group AG 0.00% of their portfolio ZURICH, V8 13,63213.6k $1.8m $1.8m 0.00% Added +4.8k +4,775
71 WELLS FARGO & COMPANY/MN 0.00% of their portfolio SAN FRANCISCO, CA 13,46413.5k $1.7m $1.7m 0.00% Added +4.0k +3,967
72 CANADA LIFE ASSURANCE Co 0.00% of their portfolio WINNIPEG, A2 13,09013.1k $1.7m $1.7m 0.00% Reduced -219 -219
73 CITIGROUP INC 0.00% of their portfolio NEW YORK, NY 13,07613.1k $1.7m $1.7m 0.00% Added +5.2k +5,218
74 TEXAS PERMANENT SCHOOL FUND CORP 0.02% of their portfolio AUSTIN, TX 12,99313.0k $1.7m $1.7m 0.02% Added +707 +707
75 JAMES INVESTMENT RESEARCH, INC. 0.19% of their portfolio ALPHA, OH 11,24211.2k $1.5m $1.5m 0.19% Unchanged
76 BARCLAYS PLC 0.00% of their portfolio LONDON, X0 11,06411.1k $1.4m $1.4m 0.00% Reduced -293 -293
77 TEACHER RETIREMENT SYSTEM OF TEXAS 0.01% of their portfolio AUSTIN, TX 10,08810.1k $1.3m $1.3m 0.01% Added +422 +422
78 State of Alaska, Department of Revenue 0.01% of their portfolio JUNEAU, AK 9,7099.7k $1.3m $1.3m 0.01% Added +328 +328
79 NorthCrest Asset Manangement, LLC 0.05% of their portfolio PLYMOUTH, MN 9,4509.4k $1.2m $1.2m 0.05% Unchanged
80 FIRST TRUST ADVISORS LP 0.00% of their portfolio Wheaton, IL 9,4139.4k $1.2m $1.2m 0.00% Reduced -17.9k -17,940
81 AMERICAN INTERNATIONAL GROUP, INC. 0.01% of their portfolio New York, NY 9,1769.2k $1.2m $1.2m 0.01% Reduced -81 -81
82 MetLife Investment Management, LLC 0.01% of their portfolio Whippany, NJ 9,0329.0k $1.2m $1.2m 0.01% Unchanged
83 WEDGE CAPITAL MANAGEMENT L L P/NC 0.02% of their portfolio CHARLOTTE, NC 8,9098.9k $1.2m $1.2m 0.02% New
84 Coho Partners, Ltd. 0.02% of their portfolio BERWYN, PA 8,8138.8k $1.1m $1.1m 0.02% Reduced -1.5k -1,500
85 JANE STREET GROUP, LLC 0.00% of their portfolio NEW YORK, NY 8,6278.6k $1.1m $1.1m 0.00% New
86 Russell Investments Group, Ltd. 0.00% of their portfolio Seattle, WA 8,5488.5k $1.1m $1.1m 0.00% Reduced -3.2k -3,232
87 DEUTSCHE BANK AG\ 0.00% of their portfolio FRANKFURT AM MAIN, 2M 8,4308.4k $1.1m $1.1m 0.00% Reduced -3.6k -3,575
88 YOUSIF CAPITAL MANAGEMENT, LLC 0.01% of their portfolio BLOOMFIELD HILLS, MI 8,3028.3k $1.1m $1.1m 0.01% Added +37 +37
89 US BANCORP \DE\ 0.00% of their portfolio MINNEAPOLIS, MN 8,0928.1k $1.0m $1.0m 0.00% Reduced -143 -143
90 OPPENHEIMER ASSET MANAGEMENT INC. 0.02% of their portfolio NEW YORK, NY 7,9728.0k $1.0m $1.0m 0.02% Added +215 +215
91 Qube Research & Technologies Ltd 0.00% of their portfolio LONDON, X0 7,7147.7k $997.1k $997.1k 0.00% Reduced -9.4k -9,435
92 VICTORY CAPITAL MANAGEMENT INC 0.00% of their portfolio San Antonio, TX 7,7057.7k $995.9k $995.9k 0.00% Reduced -1.0k -1,025
93 Louisiana State Employees Retirement System 0.02% of their portfolio BATON ROUGE, LA 7,7007.7k $995.3k $995.3k 0.02% Added +1.3k +1,300
94 Dynamic Technology Lab Private Ltd 0.12% of their portfolio SINGAPORE, U0 7,5307.5k $973.0k $973.0k 0.12% New
95 NISA INVESTMENT ADVISORS, LLC 0.01% of their portfolio ST. LOUIS, MO 7,5167.5k $971.5k $971.5k 0.01% Reduced -2.2k -2,220
96 Vestcor Inc 0.03% of their portfolio FREDERICTON, A3 7,2987.3k $943.0k $943.0k 0.03% Reduced -168 -168
97 BNP PARIBAS FINANCIAL MARKETS 0.00% of their portfolio PARIS, I0 7,2737.3k $940.1k $940.1k 0.00% Reduced -4.6k -4,629
98 PRICE T ROWE ASSOCIATES INC /MD/ 0.00% of their portfolio BALTIMORE, MD 7,2257.2k $934.0k $934.0k 0.00% Added +867 +867
99 STRS OHIO 0.00% of their portfolio COLUMBUS, OH 7,2007.2k $930.0k $930.0k 0.00% Reduced -14.4k -14,400
100 Squarepoint Ops LLC 0.01% of their portfolio NEW YORK, NY 7,0407.0k $910.0k $910.0k 0.01% Added +5.5k +5,483