PIPER SANDLER COMPANIES

Ticker: PIPR CUSIP: 724078100 Class: EQTY

CAPITAL FUND MANAGEMENT S.A.'s Holding History (CIK: 0001323645)

Note: Option positions (PUT/CALL) are excluded.

Q3 2018

Shares 5,100 Value ($000) $389 Avg Close $76.80 Range $72.60 - $80.70

Q4 2017

Shares 5,700 Value ($000) $492 Avg Close $72.11 Range $59.20 - $87.45

Q3 2017

Shares 4,300 Value ($000) $255 Avg Close $59.02 Range $52.75 - $65.85

Q3 2013

Shares 11,370 Value ($000) $390 Avg Close $33.69 Range $29.48 - $36.31

Period	Shares	Value ($000)	Average Close	Price Range
Q3 2018	5,100	$389	$76.80	$72.60 - $80.70
Q4 2017	5,700	$492	$72.11	$59.20 - $87.45
Q3 2017	4,300	$255	$59.02	$52.75 - $65.85
Q3 2013	11,370	$390	$33.69	$29.48 - $36.31