SEC Filing Summary: Piper Jaffray Companies (13F-HR)
Business Context and Reporting Period
This Form 13F-HR is a quarterly holdings report filed by Piper Jaffray Companies, an institutional investment manager. The report covers the calendar quarter ended December 31, 2006, and was signed on February 7, 2007. The filing discloses equity and debt securities held with sole voting authority, representing the manager's investment positions as of the period end.
Key Financial Metrics
The filing provides aggregate portfolio data but does not report the company's own operating revenue, profit, or cash flow.
- Total Portfolio Value: $61,651,000 (reported in thousands).
- Total Number of Holdings: 79 distinct entries.
- Asset Composition: The portfolio consists of a mix of common stocks (equity) and corporate notes (debt).
- Top Holdings by Value:
- NYSE Group Inc (Common Stock): $5,389,000
- Advanced Medical Optics Inc (Note): $4,533,000
- Lattice Semiconductor Corp (Note): $4,738,000
- Mentor Corp Minn (Note): $4,275,000
- AGCO Corp (Note): $3,781,000
Material Changes and Portfolio Activity
The filing text does not provide comparative data for the prior quarter (September 30, 2006); therefore, material changes in holdings, net purchases, or sales cannot be calculated from this document alone. The report lists current positions only. Notable activity types observed in the current period include:
- Derivative Positions: The manager holds call options on Cyberonics Inc, Emulex Corp, and Kraft Foods Inc, and a put option on Edwards Lifesciences Corp.
- Debt Concentration: A significant portion of the portfolio value is tied to corporate notes with varying maturity dates and interest rates.
Guidance, Risks, and Management Commentary
Form 13F filings are statutory disclosures of holdings and do not contain management commentary, forward-looking guidance, risk factors, or contingency plans. The filing includes a standard representation that the information is true, correct, and complete, signed by Greg Meyer, Controller.
Investor Verification Checklist
- Verify the total portfolio value of $61.65 million against the firm's total assets under management (AUM) to determine if this represents the entire firm or a specific discretionary account.
- Confirm the specific maturity dates and credit ratings of the large corporate note holdings (e.g., Advanced Medical Optics, Lattice Semiconductor) to assess interest rate and credit risk.
- Review the derivative positions (calls on Cyberonics/Emulex/Kraft; put on Edwards Lifesciences) to understand the firm's directional bets on these specific equities.
- Compare this list of 79 holdings against the previous quarter's 13F filing to identify actual turnover and new investment themes.