PIPER SANDLER & CO. Quant / Systematic

Location: Minneapolis, MN

CIK: 0000724683 · Show all filings

Period: Q1 2024 (← Previous) (Next →)

Filing Date: May 13, 2024

Total Value: $145M (4.2% shares, 95.8% debt)

Holdings (22)

— PALO ALTO NETWORKS INC 34.5%

Value $50.14M Shares 18,024,000 Share Price $2.78 Est. Cost/Share $2.78 Unrealized @ Report Date —

— NEUROCRINE BIOSCIENCES INC 16.9%

Value $24.57M Shares 13,559,000 Share Price $1.81 Est. Cost/Share $1.81 Unrealized @ Report Date —

— PIONEER NAT RES CO 8.5%

Value $12.41M Shares 4,422,000 Share Price $2.81 Est. Cost/Share $2.66 Unrealized @ Report Date —

— MFA FINL INC 7.4%

Value $10.7M Shares 10,726,000 Share Price $1.00 Est. Cost/Share $1.00 Unrealized @ Report Date —

— PENNYMAC CORP 7.3%

Value $10.54M Shares 10,705,000 Share Price $0.98 Est. Cost/Share $0.98 Unrealized @ Report Date —

— CHEGG INC 5.7%

Value $8.29M Shares 8,900,000 Share Price $0.93 Est. Cost/Share $0.93 Unrealized @ Report Date —

— JAZZ INVESTMENTS I LTD 4.8%

Value $6.983M Shares 7,100,000 Share Price $0.98 Est. Cost/Share $0.97 Unrealized @ Report Date —

— PARAMOUNT GLOBAL 3.6%

Value $5.256M Shares 382,515 Share Price $13.74 Est. Cost/Share $13.74 Unrealized @ Report Date —

— BILIBILI INC 3.4%

Value $4.975M Shares 5,000,000 Share Price $0.99 Est. Cost/Share $0.99 Unrealized @ Report Date —

— KAMAN CORP 2.3%

Value $3.325M Shares 3,288,000 Share Price $1.01 Est. Cost/Share $0.98 Unrealized @ Report Date —

— ARBOR REALTY TRUST INC 2.0%

Value $2.939M Shares 3,000,000 Share Price $0.98 Est. Cost/Share $0.98 Unrealized @ Report Date —

— TURNING PT BRANDS INC 1.6%

Value $2.32M Shares 2,372,000 Share Price $0.98 Est. Cost/Share $0.98 Unrealized @ Report Date —

— REDWOOD TRUST INC 1.0%

Value $1.499M Shares 1,505,000 Share Price $1.00 Est. Cost/Share $1.00 Unrealized @ Report Date —

STTK SHATTUCK LABS INC 0.2%

Value $353K Shares 39,467 Share Price $8.94 Est. Cost/Share $27.08 Unrealized @ Report Date -67.0%

— PROSPECT CAP CORP 0.2%

Value $332K Shares 335,000 Share Price $0.99 Est. Cost/Share $0.99 Unrealized @ Report Date —

ZEO ZEO ENERGY CORP 0.2%

Value $285K Shares 50,000 Share Price $5.70 Est. Cost/Share $9.77 Unrealized @ Report Date -41.6%

OPFI OPPFI INC 0.1%

Value $149K Shares 59,438 Share Price $2.50 Est. Cost/Share $4.24 Unrealized @ Report Date -41.0%

— I3 VERTICALS LLC 0.1%

Value $92,926 Shares 97,000 Share Price $0.96 Est. Cost/Share $0.96 Unrealized @ Report Date —

ACDC PROFRAC HLDG CORP 0.0%

Value $68,251 Shares 8,164 Share Price $8.36 Est. Cost/Share $22.09 Unrealized @ Report Date -62.2%

REEWF CARTESIAN GROWTH CORP II 0.0%

Value $41,619 Shares 402,500 Share Price $0.10 Est. Cost/Share $0.12 Unrealized @ Report Date —

CLVT 5.25 06/01/24 A CLARIVATE PLC 0.0%

Value $16,355 Shares 545 Share Price $30.01 Est. Cost/Share $30.01 Unrealized @ Report Date —

OPFI/WS OPPFI INC 0.0%

Value $2,378 Shares 29,719 Share Price $0.08 Est. Cost/Share $0.50 Unrealized @ Report Date —

Ticker	Issuer	Shares	Value	%	Share Price	Est. Cost/Share	Unrealized @ Report Date	Class	CUSIP
—	PALO ALTO NETWORKS INC	18,024,000	$50.14M	34.5%	$2.78	$2.78	—	NOTE 0.375% 6/0	697435AF2
—	NEUROCRINE BIOSCIENCES INC	13,559,000	$24.57M	16.9%	$1.81	$1.81	—	NOTE 2.250% 5/1	64125CAD1
—	PIONEER NAT RES CO	4,422,000	$12.41M	8.5%	$2.81	$2.66	—	NOTE 0.250% 5/1	723787AP2
—	MFA FINL INC	10,726,000	$10.7M	7.4%	$1.00	$1.00	—	NOTE 6.250% 6/1	55272XAA0
—	PENNYMAC CORP	10,705,000	$10.54M	7.3%	$0.98	$0.98	—	NOTE 5.500%11/0	70932AAD5
—	CHEGG INC	8,900,000	$8.29M	5.7%	$0.93	$0.93	—	NOTE 0.125% 3/1	163092AD1
—	JAZZ INVESTMENTS I LTD	7,100,000	$6.983M	4.8%	$0.98	$0.97	—	NOTE 1.500% 8/1	472145AD3
—	PARAMOUNT GLOBAL	382,515	$5.256M	3.6%	$13.74	$13.74	—	5.75% CONV PFD A	92556H305
—	BILIBILI INC	5,000,000	$4.975M	3.4%	$0.99	$0.99	—	NOTE 1.375% 4/0	090040AB2
—	KAMAN CORP	3,288,000	$3.325M	2.3%	$1.01	$0.98	—	NOTE 3.250% 5/0	483548AF0
—	ARBOR REALTY TRUST INC	3,000,000	$2.939M	2.0%	$0.98	$0.98	—	NOTE 7.500% 8/0	038923BA5
—	TURNING PT BRANDS INC	2,372,000	$2.32M	1.6%	$0.98	$0.98	—	NOTE 2.500% 7/1	90041LAE5
—	REDWOOD TRUST INC	1,505,000	$1.499M	1.0%	$1.00	$1.00	—	NOTE 5.625% 7/1	758075AD7
STTK	SHATTUCK LABS INC	39,467	$353K	0.2%	$8.94	$27.08	-67.0%	COM	82024L103
—	PROSPECT CAP CORP	335,000	$332K	0.2%	$0.99	$0.99	—	NOTE 6.375% 3/0	74348TAT9
ZEO	ZEO ENERGY CORP	50,000	$285K	0.2%	$5.70	$9.77	-41.6%	CL A	98944F109
OPFI	OPPFI INC	59,438	$149K	0.1%	$2.50	$4.24	-41.0%	COM CL A	68386H103
—	I3 VERTICALS LLC	97,000	$92,926	0.1%	$0.96	$0.96	—	NOTE 1.000% 2/1	44933TAB2
ACDC	PROFRAC HLDG CORP	8,164	$68,251	0.0%	$8.36	$22.09	-62.2%	CLASS A COM	74319N100
REEWF	CARTESIAN GROWTH CORP II	402,500	$41,619	0.0%	$0.10	$0.12	—	*W EXP 07/12/202	G19305120
CLVT 5.25 06/01/24 A	CLARIVATE PLC	545	$16,355	0.0%	$30.01	$30.01	—	5.25% PFD CONV A	G21810208
OPFI/WS	OPPFI INC	29,719	$2,378	0.0%	$0.08	$0.50	—	*W EXP 07/20/202	68386H111