Piper Sandler & Co.
Annual return '25
+41.6%
SPY '25
+17.7%
Alpha
+23.9ptsvs SPY
Invested
$102M
Holdings
20
Trades YTD
0
Performance · Fund vs SPY
Cumulative return · quarterly snapshotsCoverage 99%. 4 quarters of 2025 measured against SPY adj-close benchmark.
Top holdings · current snapshot
Source: 13F-HR01
$PENN 2.75 05/15/
PENN ENTERTAINMENT INC
Held since at least Q1 2024
18.6%
02
$MGPI 1.875 11/15
MGP INGREDIENTS INC NEW
Held since at least Q1 2024
16.8%
03
$CBRL 0.625 06/15
CRACKER BARREL OLD CTRY STOR
Held since at least Q1 2024
14.8%
04
$AWK 3.625 06/15/
AMERICAN WTR CAP CORP
Held since at least Q1 2024
11.5%
05
$UPST 0.25 08/15/
UPSTART HLDGS INC
Held since at least Q1 2024
8.5%
06
$BXMT 5.5 03/15/2
BLACKSTONE MORTGAGE TRUST IN
Held since at least Q1 2024
7.0%
07
$VAC 3.25 12/15/2
MARRIOTT VACATIONS WORLDWIDE
Held since at least Q1 2024
5.2%
08
$TDOC 1.25 06/01/
TELADOC HEALTH INC
Held since at least Q1 2024
4.6%
09
$RWT 7.75 06/15/2
REDWOOD TRUST INC
Held since at least Q1 2024
3.9%
10
$ZD 1.75 11/01/26
ZIFF DAVIS INC
Held since at least Q1 2024
2.5%
Recent trades · Last 90 days
No Form 4 / 13D / 13G trade events on file in the recent window. 13F filers report position snapshots quarterly rather than per-trade events, so this section is most useful for managers who also file Form 4 or 13D/G.
Convergence · Pattern Engine ships in v1.1
30-day windowIn development
Convergence participation lands with the Pattern Engine.
Once the Pattern Engine ships, this section will list every active convergence event this fund is named in — with the other named funds, the Congress members on the same name, and combined position size.
Source data: SEC EDGAR · 13F-HR filings · Performance through 2025-12-31 · Last refreshed 12:15 UTC.