PIPER SANDLER COMPANIES

Ticker: PIPR CUSIP: 724078100 Class: EQTY

Arizona State Retirement System's Holding History (CIK: 0001558481)

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

Q4 2025

Shares 4,943 Value ($000) $1,679 Avg Close $337.82 Range $308.86 - $372.75

Q3 2025

Shares 5,254 Value ($000) $1,823 Avg Close $326.18 Range $274.99 - $374.77

Q2 2025

Shares 5,175 Value ($000) $1,438 Avg Close $249.18 Range $202.91 - $286.41

Q1 2025

Shares 5,100 Value ($000) $1,263 Avg Close $286.30 Range $238.37 - $333.09

Q4 2024

Shares 5,137 Value ($000) $1,541 Avg Close $311.23 Range $278.14 - $351.80

Q3 2024

Shares 5,097 Value ($000) $1,447 Avg Close $261.59 Range $222.50 - $289.02

Q2 2024

Shares 4,950 Value ($000) $1,139 Avg Close $204.96 Range $183.58 - $231.50

Q1 2024

Shares 4,867 Value ($000) $966 Avg Close $182.80 Range $162.50 - $200.00

Q4 2023

Shares 4,962 Value ($000) $868 Avg Close $152.17 Range $130.89 - $182.87

Q3 2023

Shares 5,051 Value ($000) $734 Avg Close $144.50 Range $124.46 - $154.62

Q2 2023

Shares 4,989 Value ($000) $645 Avg Close $132.07 Range $120.97 - $142.72

Q1 2023

Shares 5,167 Value ($000) $716 Avg Close $142.52 Range $122.17 - $162.20

Q4 2022

Shares 4,920 Value ($000) $641 Avg Close $130.65 Range $104.85 - $150.93

Q3 2022

Shares 4,840 Value ($000) $507 Avg Close $116.47 Range $102.60 - $133.73

Q2 2022

Shares 4,928 Value ($000) $559 Avg Close $120.84 Range $108.66 - $133.73

Q1 2022

Shares 4,833 Value ($000) $634 Avg Close $147.34 Range $120.97 - $187.00

Q4 2021

Shares 4,856 Value ($000) $867 Avg Close $169.95 Range $137.89 - $193.60

Q3 2021

Shares 4,975 Value ($000) $689 Avg Close $133.96 Range $114.64 - $151.04

Q2 2021

Shares 4,964 Value ($000) $643 Avg Close $122.50 Range $109.61 - $135.17

Q1 2021

Shares 4,941 Value ($000) $542 Avg Close $106.08 Range $90.84 - $124.03

Q4 2020

Shares 4,939 Value ($000) $498 Avg Close $90.71 Range $71.64 - $106.17

Q3 2020

Shares 5,145 Value ($000) $376 Avg Close $68.20 Range $54.68 - $78.25

Q2 2020

Shares 3,713 Value ($000) $220 Avg Close $56.35 Range $46.50 - $72.80

Q4 2019

Shares 9,574 Value ($000) $765 Avg Close $77.47 Range $68.93 - $82.55

Q3 2019

Shares 16,681 Value ($000) $1,259 Avg Close $74.55 Range $69.68 - $79.31

Q2 2019

Shares 22,071 Value ($000) $1,639 Avg Close $75.59 Range $70.01 - $82.52

Q1 2019

Shares 22,581 Value ($000) $1,645 Avg Close $70.94 Range $64.66 - $75.21

Q4 2018

Shares 22,833 Value ($000) $1,503 Avg Close $69.76 Range $61.35 - $78.11

Q3 2018

Shares 22,005 Value ($000) $1,680 Avg Close $76.80 Range $72.60 - $80.70

Q2 2018

Shares 20,773 Value ($000) $1,596 Avg Close $78.29 Range $67.75 - $85.80

Q1 2018

Shares 22,571 Value ($000) $1,875 Avg Close $88.45 Range $79.85 - $99.80

Q4 2017

Shares 23,871 Value ($000) $2,059 Avg Close $72.11 Range $59.20 - $87.45

Q3 2017

Shares 7,405 Value ($000) $439 Avg Close $59.02 Range $52.75 - $65.85

Q2 2017

Shares 7,405 Value ($000) $444 Avg Close $60.36 Range $56.55 - $64.10

Q1 2017

Shares 7,405 Value ($000) $473 Avg Close $70.79 Range $61.43 - $81.85

Q4 2016

Shares 7,305 Value ($000) $530 Avg Close $63.14 Range $47.72 - $77.80

Q3 2016

Shares 7,405 Value ($000) $358 Avg Close $43.55 Range $36.80 - $48.70

Q2 2016

Shares 7,305 Value ($000) $275 Avg Close $42.46 Range $35.36 - $50.15

Q1 2016

Shares 7,605 Value ($000) $377 Avg Close $40.50 Range $31.66 - $50.66

Q4 2015

Shares 7,605 Value ($000) $307 Avg Close $38.33 Range $33.17 - $42.95

Q3 2015

Shares 7,205 Value ($000) $261 Avg Close $41.08 Range $35.86 - $46.42

Q4 2014

Shares 11,359 Value ($000) $659 Avg Close $54.91 Range $44.73 - $59.94

Q3 2014

Shares 11,259 Value ($000) $588 Avg Close $53.33 Range $49.24 - $56.91

Q2 2014

Shares 11,359 Value ($000) $588 Avg Close $45.02 Range $39.40 - $52.00

Q1 2014

Shares 11,159 Value ($000) $511 Avg Close $40.68 Range $36.86 - $45.94

Q4 2013

Shares 12,659 Value ($000) $500 Avg Close $36.47 Range $31.76 - $39.75

Q3 2013

Shares 14,459 Value ($000) $495 Avg Close $33.69 Range $29.48 - $36.31

Q2 2013

Shares 13,859 Value ($000) $438 Avg Close $33.63 Range $30.44 - $36.59

Q1 2013

Shares 14,559 Value ($000) $499 Avg Close $37.75 Range $31.79 - $42.56

Period	Shares	Value ($000)	Average Close	Price Range
Q4 2025	4,943	$1,679	$337.82	$308.86 - $372.75
Q3 2025	5,254	$1,823	$326.18	$274.99 - $374.77
Q2 2025	5,175	$1,438	$249.18	$202.91 - $286.41
Q1 2025	5,100	$1,263	$286.30	$238.37 - $333.09
Q4 2024	5,137	$1,541	$311.23	$278.14 - $351.80
Q3 2024	5,097	$1,447	$261.59	$222.50 - $289.02
Q2 2024	4,950	$1,139	$204.96	$183.58 - $231.50
Q1 2024	4,867	$966	$182.80	$162.50 - $200.00
Q4 2023	4,962	$868	$152.17	$130.89 - $182.87
Q3 2023	5,051	$734	$144.50	$124.46 - $154.62
Q2 2023	4,989	$645	$132.07	$120.97 - $142.72
Q1 2023	5,167	$716	$142.52	$122.17 - $162.20
Q4 2022	4,920	$641	$130.65	$104.85 - $150.93
Q3 2022	4,840	$507	$116.47	$102.60 - $133.73
Q2 2022	4,928	$559	$120.84	$108.66 - $133.73
Q1 2022	4,833	$634	$147.34	$120.97 - $187.00
Q4 2021	4,856	$867	$169.95	$137.89 - $193.60
Q3 2021	4,975	$689	$133.96	$114.64 - $151.04
Q2 2021	4,964	$643	$122.50	$109.61 - $135.17
Q1 2021	4,941	$542	$106.08	$90.84 - $124.03
Q4 2020	4,939	$498	$90.71	$71.64 - $106.17
Q3 2020	5,145	$376	$68.20	$54.68 - $78.25
Q2 2020	3,713	$220	$56.35	$46.50 - $72.80
Q4 2019	9,574	$765	$77.47	$68.93 - $82.55
Q3 2019	16,681	$1,259	$74.55	$69.68 - $79.31
Q2 2019	22,071	$1,639	$75.59	$70.01 - $82.52
Q1 2019	22,581	$1,645	$70.94	$64.66 - $75.21
Q4 2018	22,833	$1,503	$69.76	$61.35 - $78.11
Q3 2018	22,005	$1,680	$76.80	$72.60 - $80.70
Q2 2018	20,773	$1,596	$78.29	$67.75 - $85.80
Q1 2018	22,571	$1,875	$88.45	$79.85 - $99.80
Q4 2017	23,871	$2,059	$72.11	$59.20 - $87.45
Q3 2017	7,405	$439	$59.02	$52.75 - $65.85
Q2 2017	7,405	$444	$60.36	$56.55 - $64.10
Q1 2017	7,405	$473	$70.79	$61.43 - $81.85
Q4 2016	7,305	$530	$63.14	$47.72 - $77.80
Q3 2016	7,405	$358	$43.55	$36.80 - $48.70
Q2 2016	7,305	$275	$42.46	$35.36 - $50.15
Q1 2016	7,605	$377	$40.50	$31.66 - $50.66
Q4 2015	7,605	$307	$38.33	$33.17 - $42.95
Q3 2015	7,205	$261	$41.08	$35.86 - $46.42
Q4 2014	11,359	$659	$54.91	$44.73 - $59.94
Q3 2014	11,259	$588	$53.33	$49.24 - $56.91
Q2 2014	11,359	$588	$45.02	$39.40 - $52.00
Q1 2014	11,159	$511	$40.68	$36.86 - $45.94
Q4 2013	12,659	$500	$36.47	$31.76 - $39.75
Q3 2013	14,459	$495	$33.69	$29.48 - $36.31
Q2 2013	13,859	$438	$33.63	$30.44 - $36.59
Q1 2013	14,559	$499	$37.75	$31.79 - $42.56