PIPER SANDLER COMPANIES

Ticker: PIPR CUSIP: 724078100 Class: EQTY

Swiss National Bank's Holding History (CIK: 0001582202)

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

Q4 2025

Shares 34,880 Value ($000) $11,849 Avg Close $337.82 Range $308.86 - $372.75

Q3 2025

Shares 34,400 Value ($000) $11,936 Avg Close $326.18 Range $274.99 - $374.77

Q2 2025

Shares 33,900 Value ($000) $9,422 Avg Close $249.18 Range $202.91 - $286.41

Q1 2025

Shares 34,500 Value ($000) $8,544 Avg Close $286.30 Range $238.37 - $333.09

Q4 2024

Shares 34,800 Value ($000) $10,438 Avg Close $311.23 Range $278.14 - $351.80

Q3 2024

Shares 34,600 Value ($000) $9,820 Avg Close $261.59 Range $222.50 - $289.02

Q2 2024

Shares 34,800 Value ($000) $8,010 Avg Close $204.96 Range $183.58 - $231.50

Q1 2024

Shares 35,000 Value ($000) $6,947 Avg Close $182.80 Range $162.50 - $200.00

Q4 2023

Shares 35,000 Value ($000) $6,120 Avg Close $152.17 Range $130.89 - $182.87

Q3 2023

Shares 39,000 Value ($000) $5,667 Avg Close $144.50 Range $124.46 - $154.62

Q2 2023

Shares 38,700 Value ($000) $5,002 Avg Close $132.07 Range $120.97 - $142.72

Q1 2023

Shares 38,500 Value ($000) $5,336 Avg Close $142.52 Range $122.17 - $162.20

Q4 2022

Shares 42,200 Value ($000) $5,494 Avg Close $130.65 Range $104.85 - $150.93

Q3 2022

Shares 42,200 Value ($000) $4,420 Avg Close $116.47 Range $102.60 - $133.73

Q2 2022

Shares 42,900 Value ($000) $4,863 Avg Close $120.84 Range $108.66 - $133.73

Q1 2022

Shares 42,300 Value ($000) $5,552 Avg Close $147.34 Range $120.97 - $187.00

Q4 2021

Shares 39,700 Value ($000) $7,087 Avg Close $169.95 Range $137.89 - $193.60

Q3 2021

Shares 40,200 Value ($000) $5,566 Avg Close $133.96 Range $114.64 - $151.04

Q2 2021

Shares 40,300 Value ($000) $5,221 Avg Close $122.50 Range $109.61 - $135.17

Q1 2021

Shares 38,800 Value ($000) $4,254 Avg Close $106.08 Range $90.84 - $124.03

Q4 2020

Shares 38,600 Value ($000) $3,895 Avg Close $90.71 Range $71.64 - $106.17

Q3 2020

Shares 38,600 Value ($000) $2,818 Avg Close $68.20 Range $54.68 - $78.25

Q2 2020

Shares 36,700 Value ($000) $2,171 Avg Close $56.35 Range $46.50 - $72.80

Q1 2020

Shares 26,500 Value ($000) $1,340 Avg Close $71.26 Range $31.95 - $87.45

Q4 2019

Shares 25,800 Value ($000) $2,062 Avg Close $77.47 Range $68.93 - $82.55

Q3 2019

Shares 25,500 Value ($000) $1,925 Avg Close $74.55 Range $69.68 - $79.31

Q2 2019

Shares 25,900 Value ($000) $1,924 Avg Close $75.59 Range $70.01 - $82.52

Q1 2019

Shares 25,500 Value ($000) $1,857 Avg Close $70.94 Range $64.66 - $75.21

Q4 2018

Shares 25,500 Value ($000) $1,679 Avg Close $69.76 Range $61.35 - $78.11

Q3 2018

Shares 25,000 Value ($000) $1,909 Avg Close $76.80 Range $72.60 - $80.70

Q2 2018

Shares 25,000 Value ($000) $1,921 Avg Close $78.29 Range $67.75 - $85.80

Q1 2018

Shares 25,000 Value ($000) $2,076 Avg Close $88.45 Range $79.85 - $99.80

Q4 2017

Shares 25,000 Value ($000) $2,156 Avg Close $72.11 Range $59.20 - $87.45

Q3 2017

Shares 25,000 Value ($000) $1,484 Avg Close $59.02 Range $52.75 - $65.85

Q2 2017

Shares 25,000 Value ($000) $1,499 Avg Close $60.36 Range $56.55 - $64.10

Q1 2017

Shares 25,000 Value ($000) $1,596 Avg Close $70.79 Range $61.43 - $81.85

Q4 2016

Shares 25,000 Value ($000) $1,813 Avg Close $63.14 Range $47.72 - $77.80

Q3 2016

Shares 27,500 Value ($000) $1,328 Avg Close $43.55 Range $36.80 - $48.70

Q2 2016

Shares 27,500 Value ($000) $1,037 Avg Close $42.46 Range $35.36 - $50.15

Q1 2016

Shares 28,200 Value ($000) $1,353 Avg Close $40.50 Range $31.66 - $50.66

Q4 2015

Shares 23,600 Value ($000) $953 Avg Close $38.33 Range $33.17 - $42.95

Q3 2015

Shares 23,600 Value ($000) $854 Avg Close $41.08 Range $35.86 - $46.42

Q2 2015

Shares 21,600 Value ($000) $943 Avg Close $49.91 Range $43.24 - $56.57

Q1 2015

Shares 21,100 Value ($000) $1,107 Avg Close $54.32 Range $49.78 - $58.88

Q4 2014

Shares 20,500 Value ($000) $1,191 Avg Close $54.91 Range $44.73 - $59.94

Q3 2014

Shares 20,500 Value ($000) $1,071 Avg Close $53.33 Range $49.24 - $56.91

Q2 2014

Shares 16,400 Value ($000) $849 Avg Close $45.02 Range $39.40 - $52.00

Q1 2014

Shares 15,600 Value ($000) $714 Avg Close $40.68 Range $36.86 - $45.94

Q4 2013

Shares 12,500 Value ($000) $494 Avg Close $36.47 Range $31.76 - $39.75

Q3 2013

Shares 12,500 Value ($000) $429 Avg Close $33.69 Range $29.48 - $36.31

Q2 2013

Shares 13,800 Value ($000) $436 Avg Close $33.63 Range $30.44 - $36.59

Period	Shares	Value ($000)	Average Close	Price Range
Q4 2025	34,880	$11,849	$337.82	$308.86 - $372.75
Q3 2025	34,400	$11,936	$326.18	$274.99 - $374.77
Q2 2025	33,900	$9,422	$249.18	$202.91 - $286.41
Q1 2025	34,500	$8,544	$286.30	$238.37 - $333.09
Q4 2024	34,800	$10,438	$311.23	$278.14 - $351.80
Q3 2024	34,600	$9,820	$261.59	$222.50 - $289.02
Q2 2024	34,800	$8,010	$204.96	$183.58 - $231.50
Q1 2024	35,000	$6,947	$182.80	$162.50 - $200.00
Q4 2023	35,000	$6,120	$152.17	$130.89 - $182.87
Q3 2023	39,000	$5,667	$144.50	$124.46 - $154.62
Q2 2023	38,700	$5,002	$132.07	$120.97 - $142.72
Q1 2023	38,500	$5,336	$142.52	$122.17 - $162.20
Q4 2022	42,200	$5,494	$130.65	$104.85 - $150.93
Q3 2022	42,200	$4,420	$116.47	$102.60 - $133.73
Q2 2022	42,900	$4,863	$120.84	$108.66 - $133.73
Q1 2022	42,300	$5,552	$147.34	$120.97 - $187.00
Q4 2021	39,700	$7,087	$169.95	$137.89 - $193.60
Q3 2021	40,200	$5,566	$133.96	$114.64 - $151.04
Q2 2021	40,300	$5,221	$122.50	$109.61 - $135.17
Q1 2021	38,800	$4,254	$106.08	$90.84 - $124.03
Q4 2020	38,600	$3,895	$90.71	$71.64 - $106.17
Q3 2020	38,600	$2,818	$68.20	$54.68 - $78.25
Q2 2020	36,700	$2,171	$56.35	$46.50 - $72.80
Q1 2020	26,500	$1,340	$71.26	$31.95 - $87.45
Q4 2019	25,800	$2,062	$77.47	$68.93 - $82.55
Q3 2019	25,500	$1,925	$74.55	$69.68 - $79.31
Q2 2019	25,900	$1,924	$75.59	$70.01 - $82.52
Q1 2019	25,500	$1,857	$70.94	$64.66 - $75.21
Q4 2018	25,500	$1,679	$69.76	$61.35 - $78.11
Q3 2018	25,000	$1,909	$76.80	$72.60 - $80.70
Q2 2018	25,000	$1,921	$78.29	$67.75 - $85.80
Q1 2018	25,000	$2,076	$88.45	$79.85 - $99.80
Q4 2017	25,000	$2,156	$72.11	$59.20 - $87.45
Q3 2017	25,000	$1,484	$59.02	$52.75 - $65.85
Q2 2017	25,000	$1,499	$60.36	$56.55 - $64.10
Q1 2017	25,000	$1,596	$70.79	$61.43 - $81.85
Q4 2016	25,000	$1,813	$63.14	$47.72 - $77.80
Q3 2016	27,500	$1,328	$43.55	$36.80 - $48.70
Q2 2016	27,500	$1,037	$42.46	$35.36 - $50.15
Q1 2016	28,200	$1,353	$40.50	$31.66 - $50.66
Q4 2015	23,600	$953	$38.33	$33.17 - $42.95
Q3 2015	23,600	$854	$41.08	$35.86 - $46.42
Q2 2015	21,600	$943	$49.91	$43.24 - $56.57
Q1 2015	21,100	$1,107	$54.32	$49.78 - $58.88
Q4 2014	20,500	$1,191	$54.91	$44.73 - $59.94
Q3 2014	20,500	$1,071	$53.33	$49.24 - $56.91
Q2 2014	16,400	$849	$45.02	$39.40 - $52.00
Q1 2014	15,600	$714	$40.68	$36.86 - $45.94
Q4 2013	12,500	$494	$36.47	$31.76 - $39.75
Q3 2013	12,500	$429	$33.69	$29.48 - $36.31
Q2 2013	13,800	$436	$33.63	$30.44 - $36.59