What is SEC Form 13F?
SEC Form 13F is a quarterly report required by the Securities and Exchange Commission from institutional investment managers with at least $100 million in qualifying assets under management. These filings provide transparency into the holdings of major market participants including hedge funds, mutual funds, pension funds, and insurance companies.
The 13F requirement was established by the Securities Exchange Act of 1934 and is designed to increase public availability of information regarding the securities holdings of larger institutional investors.
Who Must File Form 13F?
Institutional investment managers that exercise investment discretion over $100 million or more in Section 13(f) securities must file Form 13F. This includes:
13F Filing Deadlines
13F filings are due within 45 days after the end of each calendar quarter. Here are the deadlines:
What Information is Disclosed?
13F filings must include the following information for each holding:
- Security Name - Name of the issuer
- CUSIP - Unique identifier for the security
- Share Count - Number of shares held
- Market Value - Value as of quarter end
- Investment Discretion - Sole, shared, or none
- Voting Authority - Sole, shared, or none
What's NOT Disclosed
- Short positions - Not required to be disclosed
- International holdings - Only US-listed securities
- Cash positions - Not included
- Private investments - Only public securities
How to Use 13F Data for Investing
Investors use 13F data to see what successful fund managers are buying and selling. This "following the smart money" strategy can provide investment ideas and insights into market trends. Here are some common approaches:
- 1Track Superinvestors - Follow legendary investors like Warren Buffett, Ray Dalio, and Bill Ackman
- 2Identify Consensus Picks - Find stocks that multiple top funds are buying
- 3Spot New Positions - Discover stocks that funds are initiating positions in
- 4Track Conviction - See which positions funds are adding to over multiple quarters
⚠️ Important: Remember that 13F data is reported with a 45-day delay. Holdings may have changed since the filing date. Always do your own research and don't blindly follow any investor.