Piper Sandler
PIPR
417 hedge funds and large institutions have $5.15B invested in Piper Sandler in 2025 Q4 according to their latest regulatory filings, with 76 funds opening new positions, 134 increasing their positions, 125 reducing their positions, and 31 closing their positions.
145% more first-time investments, than exits
New positions opened: 76 | Existing positions closed: 31
61% more call options, than puts
Call options by funds: $14.8M | Put options by funds: $9.17M
9% more funds holding
Funds holding: 382 → 417 (+35)
8.17% more ownership
Funds ownership: 335.16% → 343.33% (+8.2%)
7% more repeat investments, than reductions
Existing positions increased: 134 | Existing positions reduced: 125
0% more capital invested
Capital invested by funds: $5.14B → $5.15B (+$12.1M)
0% more funds holding in top 10
Funds holding in top 10: 3 → 3 (0)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Citadel Advisors
Miami,
Florida
|
+$46.6M |
| 2 |
EA
Emerald Advisers
Leola,
Pennsylvania
|
+$27.8M |
| 3 |
DCM
Driehaus Capital Management
Chicago,
Illinois
|
+$23.8M |
| 4 |
BlackRock
New York
|
+$19.2M |
| 5 |
NRCM
North Reef Capital Management
Laguna Beach,
California
|
+$18M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Fidelity Investments
Boston,
Massachusetts
|
-$64M |
| 2 |
Franklin Resources
San Mateo,
California
|
-$27.3M |
| 3 |
ACL
Azora Capital LP
Miami,
Florida
|
-$17.2M |
| 4 |
American Century Companies
Kansas City,
Missouri
|
-$15.8M |
| 5 |
Lord, Abbett & Co
Jersey City,
New Jersey
|
-$14.9M |
PIPR Hedge Fund Activity: Q4 2025 in Review
417 of the 8,266 institutional investors tracked by Wall St. Rank reported a position in Piper Sandler (PIPR) for Q4 2025, worth a combined $5.15B — up 0.24% from $5.14B a quarter earlier.
Buyers outnumbered sellers: 76 funds opened new PIPR positions and 31 closed out — a net gain of 45 holders — while 134 added to existing stakes and 125 trimmed.
The largest buyer was Citadel Advisors, adding an estimated $46.6M. The largest seller was Fidelity Investments, cutting an estimated $64M.
- 417 institutional investors held Piper Sandler (PIPR) as of Q4 2025, up from 382 in Q3 2025.
- Funds reported $5.15B of Piper Sandler stock for Q4 2025, up 0.24% quarter-over-quarter.
- 76 funds opened new Piper Sandler positions in Q4 2025 and 31 closed out, a net change of +45 holders.
- The largest Piper Sandler buyer in Q4 2025 was Citadel Advisors, an estimated $46.6M added.
- The largest Piper Sandler seller in Q4 2025 was Fidelity Investments, an estimated $64M sold.
Based on aggregated 13F filings for Q4 2025.