PIPER SANDLER & CO. Quant / Systematic

Location: Minneapolis, MN

CIK: 0000724683 · Show all filings

Period: Q1 2023 (← Previous) (Next →)

Filing Date: May 11, 2023

Total Value: $146M (3.0% shares, 97.0% debt)

Holdings (30)

— HOPE BANCORP INC 11.5%

Value $16.77M Shares 17,335,000 Share Price $0.97 Est. Cost/Share $0.96 Unrealized @ Report Date —

— DIGITALBRIDGE GROUP INC 11.5%

Value $16.75M Shares 16,754,000 Share Price $1.00 Est. Cost/Share $0.99 Unrealized @ Report Date —

— SILICON LABORATORIES INC 10.2%

Value $14.96M Shares 10,000,000 Share Price $1.50 Est. Cost/Share $1.50 Unrealized @ Report Date —

— IQIYI INC 10.1%

Value $14.69M Shares 14,689,000 Share Price $1.00 Est. Cost/Share $1.00 Unrealized @ Report Date —

— KKR REAL ESTATE FIN TR INC 9.0%

Value $13.11M Shares 13,246,000 Share Price $0.99 Est. Cost/Share $0.98 Unrealized @ Report Date —

— PURE STORAGE INC 6.8%

Value $9.975M Shares 10,000,000 Share Price $1.00 Est. Cost/Share $1.00 Unrealized @ Report Date —

— APOLLO COML REAL ESTATE FIN 6.6%

Value $9.681M Shares 9,993,000 Share Price $0.97 Est. Cost/Share $0.97 Unrealized @ Report Date —

— WESTERN DIGITAL CORP. 5.9%

Value $8.682M Shares 8,982,000 Share Price $0.97 Est. Cost/Share $0.97 Unrealized @ Report Date —

— TERADYNE INC 4.9%

Value $7.147M Shares 2,300,000 Share Price $3.11 Est. Cost/Share $2.80 Unrealized @ Report Date —

— SUPERNUS PHARMACEUTICALS 4.6%

Value $6.694M Shares 6,695,000 Share Price $1.00 Est. Cost/Share $0.98 Unrealized @ Report Date —

— TILRAY BRANDS INC 3.3%

Value $4.882M Shares 4,962,000 Share Price $0.98 Est. Cost/Share $0.98 Unrealized @ Report Date —

— REDWOOD TRUST INC 3.3%

Value $4.865M Shares 5,003,000 Share Price $0.97 Est. Cost/Share $0.97 Unrealized @ Report Date —

— SPLUNK INC 3.2%

Value $4.639M Shares 4,757,000 Share Price $0.98 Est. Cost/Share $0.98 Unrealized @ Report Date —

— NICE SYS INC 2.5%

Value $3.699M Shares 1,535,000 Share Price $2.41 Est. Cost/Share $2.41 Unrealized @ Report Date —

— HERBALIFE NUTRITION LTD 1.9%

Value $2.842M Shares 3,000,000 Share Price $0.95 Est. Cost/Share $0.95 Unrealized @ Report Date —

HOPE HOPE BANCORP INC 1.9%

Value $2.836M Shares 288,800 Share Price $9.82 Est. Cost/Share — Unrealized @ Report Date —

— INTERCEPT PHARMACEUTICALS IN 0.8%

Value $1.16M Shares 1,162,000 Share Price $1.00 Est. Cost/Share $0.98 Unrealized @ Report Date —

— ILLUMINA INC 0.7%

Value $1.014M Shares 1,040,000 Share Price $0.97 Est. Cost/Share $0.96 Unrealized @ Report Date —

— BECTON DICKINSON & CO 0.2%

Value $274K Shares 5,510 Share Price $49.72 Est. Cost/Share $49.72 Unrealized @ Report Date —

Value $256K Shares 25,003 Share Price $10.25 Est. Cost/Share $9.80 Unrealized @ Report Date —

— COLOMBIER ACQUISITION CORP 0.2%

Value $253K Shares 25,000 Share Price $10.13 Est. Cost/Share $9.68 Unrealized @ Report Date —

— DA32 LIFE SCNCE TEC ACQSTN C 0.2%

Value $253K Shares 25,003 Share Price $10.12 Est. Cost/Share $9.76 Unrealized @ Report Date —

OPFI OPPFI INC 0.1%

Value $122K Shares 59,438 Share Price $2.05 Est. Cost/Share $4.24 Unrealized @ Report Date -51.6%

STTK SHATTUCK LABS INC 0.1%

Value $116K Shares 39,467 Share Price $2.94 Est. Cost/Share $27.08 Unrealized @ Report Date -89.1%

— NEW RELIC INC 0.1%

Value $109K Shares 110,000 Share Price $0.99 Est. Cost/Share $0.98 Unrealized @ Report Date —

ACDC PROFRAC HLDG CORP 0.1%

Value $103K Shares 8,164 Share Price $12.67 Est. Cost/Share $22.09 Unrealized @ Report Date -42.6%

— LIGAND PHARMACEUTICALS INC 0.0%

Value $72,290 Shares 73,000 Share Price $0.99 Est. Cost/Share $0.99 Unrealized @ Report Date —

REEWF CARTESIAN GROWTH CORP II 0.0%

Value $64,440 Shares 402,500 Share Price $0.16 Est. Cost/Share $0.12 Unrealized @ Report Date —

ISTR INVESTAR HLDG CORP 0.0%

Value $31,019 Shares 2,222 Share Price $13.96 Est. Cost/Share $19.27 Unrealized @ Report Date -27.6%

OPFI/WS OPPFI INC 0.0%

Value $2,648 Shares 29,719 Share Price $0.09 Est. Cost/Share $0.50 Unrealized @ Report Date —

Ticker	Issuer	Shares	Value	%	Share Price	Est. Cost/Share	Unrealized @ Report Date	Class	CUSIP
—	HOPE BANCORP INC	17,335,000	$16.77M	11.5%	$0.97	$0.96	—	NOTE 2.000% 5/1	43940TAB5
—	DIGITALBRIDGE GROUP INC	16,754,000	$16.75M	11.5%	$1.00	$0.99	—	NOTE 5.000% 4/1	19624RAA4
—	SILICON LABORATORIES INC	10,000,000	$14.96M	10.2%	$1.50	$1.50	—	NOTE 0.625% 6/1	826919AD4
—	IQIYI INC	14,689,000	$14.69M	10.1%	$1.00	$1.00	—	NOTE 2.000% 4/0	46267XAD0
—	KKR REAL ESTATE FIN TR INC	13,246,000	$13.11M	9.0%	$0.99	$0.98	—	NOTE 6.125% 5/1	48251KAB6
—	PURE STORAGE INC	10,000,000	$9.975M	6.8%	$1.00	$1.00	—	NOTE 0.125% 4/1	74624MAB8
—	APOLLO COML REAL ESTATE FIN	9,993,000	$9.681M	6.6%	$0.97	$0.97	—	NOTE 5.375%10/1	03762UAC9
—	WESTERN DIGITAL CORP.	8,982,000	$8.682M	5.9%	$0.97	$0.97	—	NOTE 1.500% 2/0	958102AP0
—	TERADYNE INC	2,300,000	$7.147M	4.9%	$3.11	$2.80	—	NOTE 1.250%12/1	880770AG7
—	SUPERNUS PHARMACEUTICALS	6,695,000	$6.694M	4.6%	$1.00	$0.98	—	NOTE 0.625% 4/0	868459AD0
—	TILRAY BRANDS INC	4,962,000	$4.882M	3.3%	$0.98	$0.98	—	NOTE 5.000%10/0	88688TAB6
—	REDWOOD TRUST INC	5,003,000	$4.865M	3.3%	$0.97	$0.97	—	NOTE 4.750% 8/1	758075AC9
—	SPLUNK INC	4,757,000	$4.639M	3.2%	$0.98	$0.98	—	NOTE 0.500% 9/1	848637AC8
—	NICE SYS INC	1,535,000	$3.699M	2.5%	$2.41	$2.41	—	NOTE 1.250% 1/1	65366HAB9
—	HERBALIFE NUTRITION LTD	3,000,000	$2.842M	1.9%	$0.95	$0.95	—	NOTE 2.625% 3/1	42703MAD5
HOPE	HOPE BANCORP INC	288,800	$2.836M	1.9%	$9.82	—	—	Put	43940T109
—	INTERCEPT PHARMACEUTICALS IN	1,162,000	$1.16M	0.8%	$1.00	$0.98	—	NOTE 3.250% 7/0	45845PAA6
—	ILLUMINA INC	1,040,000	$1.014M	0.7%	$0.97	$0.96	—	NOTE 8/1	452327AK5
—	BECTON DICKINSON & CO	5,510	$274K	0.2%	$49.72	$49.72	—	6% DP CONV PFD B	075887406
—	TWO	25,003	$256K	0.2%	$10.25	$9.80	—	COM CL A	G9152V101
—	COLOMBIER ACQUISITION CORP	25,000	$253K	0.2%	$10.13	$9.68	—	CL A	19533H108
—	DA32 LIFE SCNCE TEC ACQSTN C	25,003	$253K	0.2%	$10.12	$9.76	—	CLASS A COM	23312M106
OPFI	OPPFI INC	59,438	$122K	0.1%	$2.05	$4.24	-51.6%	COM CL A	68386H103
STTK	SHATTUCK LABS INC	39,467	$116K	0.1%	$2.94	$27.08	-89.1%	COM	82024L103
—	NEW RELIC INC	110,000	$109K	0.1%	$0.99	$0.98	—	NOTE 0.500% 5/0	64829BAB6
ACDC	PROFRAC HLDG CORP	8,164	$103K	0.1%	$12.67	$22.09	-42.6%	CLASS A COM	74319N100
—	LIGAND PHARMACEUTICALS INC	73,000	$72,290	0.0%	$0.99	$0.99	—	NOTE 0.750% 5/1	53220KAF5
REEWF	CARTESIAN GROWTH CORP II	402,500	$64,440	0.0%	$0.16	$0.12	—	*W EXP 07/12/202	G19305120
ISTR	INVESTAR HLDG CORP	2,222	$31,019	0.0%	$13.96	$19.27	-27.6%	COM	46134L105
OPFI/WS	OPPFI INC	29,719	$2,648	0.0%	$0.09	$0.50	—	*W EXP 07/20/202	68386H111