SEC Filing Summary: Piper Jaffray Companies (Form 13F-HR)
Business Context and Reporting Period
This filing is a Form 13F Holdings Report submitted by Piper Jaffray Companies (also referenced as Piper Sandler Companies in metadata) for the quarter ended September 30, 2009. The report was signed by Tim Carter, Treasurer, on November 9, 2009. It details the institutional investment manager's reportable equity and debt securities holdings.
Key Financial Metrics
As this is a Form 13F filing, it reports portfolio holdings rather than the company's own operating financials (revenue, profit, cash flow). The following metrics reflect the reported portfolio:
- Total Portfolio Value: $52,588,000 (reported in thousands).
- Total Number of Holdings: 40 entries.
- Asset Composition: The portfolio is heavily weighted toward fixed-income securities (corporate notes/bonds), with a smaller allocation to common stock and American Depositary Receipts (ADRs).
- Top Holdings by Value:
- United States Steel Corp (Note): $6,360,000
- Alcoa Inc (Note): $5,500,000
- EarthLink Inc (Note): $4,910,000
- NII Holdings Inc (Note): $4,295,000
- AirTran Holdings Inc (Note): $3,950,000
Material Changes and Portfolio Composition
The filing text does not provide comparative data for the prior quarter (June 30, 2009); therefore, material changes in holdings versus the prior period cannot be determined from this document alone. The portfolio demonstrates a concentration in distressed or high-yield debt instruments (e.g., AirTran, Alcoa, United States Steel) alongside select equity positions in technology and healthcare sectors.
Guidance, Outlook, and Risks
Form 13F filings are statutory disclosures of holdings and do not contain management commentary, forward-looking guidance, or risk factors regarding the reporting manager's business operations. No outlook or contingency information is present in this text.
Investor Verification Checklist
- Verify the total portfolio value of $52.6 million against the firm's total assets under management (AUM) to determine if this represents a specific discretionary account or the aggregate firm portfolio.
- Confirm the credit quality and current market status of the significant fixed-income holdings (e.g., AirTran, Alcoa, United States Steel) given the 2009 reporting date during the financial crisis.
- Review subsequent 13F filings to track the turnover rate and exit strategy for the concentrated bond positions.
- Note that the filing lists "Piper Jaffray Companies" as the filer, while the metadata references "Piper Sandler Companies"; verify the corporate structure and relationship between these entities at the time of filing.