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Piper Sandler
PIPR

382 hedge funds and large institutions have $5.14B invested in Piper Sandler in 2025 Q3 according to their latest regulatory filings, with 62 funds opening new positions, 139 increasing their positions, 97 reducing their positions, and 34 closing their positions.

New
Increased
Maintained
Reduced
Closed

200% more funds holding in top 10

Funds holding in top 10: 1 → 3 (+2)

105% more call options, than puts

Call options by funds: $12.4M | Put options by funds: $6.08M

82% more first-time investments, than exits

New positions opened: 62 | Existing positions closed: 34

43% more repeat investments, than reductions

Existing positions increased: 139 | Existing positions reduced: 97

23% more capital invested

Capital invested by funds: $4.17B → $5.14B (+$977M)

7% more funds holding

Funds holding: 357 → 382 (+25)

2.18% less ownership

Funds ownership: 337.34% → 335.16% (-2.2%)

Holders
382
Holders Change
+25
Holders Change %
+7%
% of All Funds
5.01%
Holding in Top 10
3
Holding in Top 10 Change
+2
Holding in Top 10 Change %
+200%
% of All Funds
0.04%
New
62
Increased
139
Reduced
97
Closed
34
Calls
$12.4M
Puts
$6.08M
Net Calls
+$6.35M
Net Calls Change
+$2.51M

Top Buyers

1
Wellington Management Group
Wellington Management Group
Massachusetts
+$36.1M
2
TCM
TimesSquare Capital Management
New York
+$27M
3
Fiera Capital (Canada)
Fiera Capital (Canada)
Quebec, Canada
+$26.6M
4
DCM
Driehaus Capital Management
Illinois
+$26.6M
5
Goldman Sachs
Goldman Sachs
New York
+$21.6M

Top Sellers

1
Millennium Management
Millennium Management
New York
-$71.6M
2
Fidelity Investments
Fidelity Investments
Massachusetts
-$41.6M
3
NRCM
North Reef Capital Management
California
-$25.5M
4
MPI
Mairs & Power Inc
Minnesota
-$20.3M
5
WHG
Westwood Holdings Group
Texas
-$20.2M
Name Holding Trade Value Shares
Change 		Change in
Stake
LPL Financial
101
LPL Financial
California
$3.1M +$343K +4,212 +13%
LCM
102
Legato Capital Management
California
$3.02M +$1.29M +15,780 +83%
IMRF
103
Illinois Municipal Retirement Fund
Illinois
$2.96M +$29K +356 +1%
Verition Fund Management
104
Verition Fund Management
Connecticut
$2.93M +$1.53M +18,756 +125%
Stifel Financial
105
Stifel Financial
Missouri
$2.91M +$646K +7,920 +31%
DWT
106
Dorsey & Whitney Trust
South Dakota
$2.88M – – –
NAM
107
NorthCrest Asset Manangement
Minnesota
$2.88M +$1.24M +15,204 +81%
Mirae Asset Global ETFs Holdings
108
Mirae Asset Global ETFs Holdings
Hong Kong
$2.82M -$477K -5,848 -15%
Ohio Public Employees Retirement System (OPERS)
109
Ohio Public Employees Retirement System (OPERS)
Ohio
$2.8M -$672K -8,236 -20%
LIP
110
Lighthouse Investment Partners
Florida
$2.75M +$2.58M +31,684 New
OAM
111
Oppenheimer Asset Management
New York
$2.75M +$158K +1,932 +6%
LSERS
112
Louisiana State Employees Retirement System
Louisiana
$2.64M -$32.6K -400 -1%
IIM
113
INTECH Investment Management
Florida
$2.46M -$314K -3,848 -12%
AQR Capital Management
114
AQR Capital Management
Connecticut
$2.42M -$42.1K -516 -2%
Citigroup
115
Citigroup
New York
$2.38M -$3.26M -39,956 -59%
First Trust Advisors
116
First Trust Advisors
Illinois
$2.35M -$139K -1,700 -6%
US Bancorp
117
US Bancorp
Minnesota
$2.33M +$107K +1,312 +5%
HCA
118
Harbor Capital Advisors
Illinois
$2.32M +$116K +1,424 +6%
State of New Jersey Common Pension Fund D
119
State of New Jersey Common Pension Fund D
New Jersey
$2.31M -$277K -3,396 -11%
Credit Agricole
120
Credit Agricole
France
$2.22M +$2.09M +25,604 New
Squarepoint
121
Squarepoint
New York
$2.18M +$803K +9,852 +64%
Calamos Advisors
122
Calamos Advisors
Illinois
$2.13M +$970K +11,892 +94%
Lido Advisors
123
Lido Advisors
California
$2.11M +$6.52K +80 +0.3%
Comerica Bank
124
Comerica Bank
Texas
$2.03M -$298K -3,660 -14%
ACM
125
Aurdan Capital Management
Pennsylvania
$1.92M – – –
3 4
5
6 7

PIPR Hedge Fund Activity: Q3 2025 in Review

382 of the 7,619 institutional investors tracked by Wall St. Rank reported a position in Piper Sandler (PIPR) for Q3 2025, worth a combined $5.14B — up 23% from $4.17B a quarter earlier.

Buyers outnumbered sellers: 62 funds opened new PIPR positions and 34 closed out — a net gain of 28 holders — while 139 added to existing stakes and 97 trimmed.

The largest buyer was Wellington Management Group, opening a new position worth an estimated $36.1M. The largest seller was Millennium Management, cutting an estimated $71.6M.

  • 382 institutional investors held Piper Sandler (PIPR) as of Q3 2025, up from 357 in Q2 2025.
  • Funds reported $5.14B of Piper Sandler stock for Q3 2025, up 23% quarter-over-quarter.
  • 62 funds opened new Piper Sandler positions in Q3 2025 and 34 closed out, a net change of +28 holders.
  • The largest Piper Sandler buyer in Q3 2025 was Wellington Management Group, an estimated $36.1M added.
  • The largest Piper Sandler seller in Q3 2025 was Millennium Management, an estimated $71.6M sold.

Based on aggregated 13F filings for Q3 2025.