Instuitional Investor - Piper Jaffray & Co.

13F Holdings

Filing Period:

No.	Security	Ticker	Shares	Value	% Port
1.	Tesla Inc.BOND	TSLA	4,000,000	$47,639,600	35.95%
2.	Nice Sys IncBOND		13,495,000	$28,656,633	21.63%
3.	Western Digital CorpBOND	WDC	20,355,000	$20,273,580	15.3%
4.	Jazz Investments I LtdBOND		7,100,000	$6,894,100	5.2%
5.	Pnmac Holdings Inc.BOND	PFSI	5,314,000	$5,167,865	3.9%