Form 13F

Form 13F is a quarterly report filed, per United States Securities and Exchange Commission regulations,[1] by "institutional investment managers" with control over $100M in assets to the SEC, listing all equity assets under management.[2]

"13F" redirects here. For the isotope of fluorine (13F), see Fluorine-13.

Form 13F provides position-level disclosure of all institutional investment managers with more than $100m in assets under management with relevant long US holdings. All US-listed equity securities (including ETFs) in the manager’s portfolio are included and detailed according to the number of shares, the ticker, the issuer name, etc. The full list of securities currently covered by form 13F includes more than 17,500 securities.[3] Form 13F covers institutional investment managers, which include Registered Investment Advisers (RIAs), banks, insurance companies, hedge funds, trust companies, pension funds, mutual funds, among natural persons or entities with investment discretion over its own account or another's. For example, an investment adviser that manages private accounts, mutual fund assets, or pension plan assets is an institutional investment manager.

Short positions are not required to be disclosed on Form 13F, nor subtracted from long positions that are reported.[4] In 2015, the New York Stock Exchange and the National Investor Relations Institute submitted a petition to the SEC supporting a requirement for disclosure of short positions on Form 13F.[5]

Form 13F is required to be filed within 45 days of the end of a calendar quarter, or if that day falls on a Saturday, Sunday or holiday, the deadline is the next business day. So, for example, for positions held as of the end of December, Form 13F must be filed by February 14 (if it is not a Saturday, Sunday, or holiday).

Both the Chartered Alternative Investment Analyst (CAIA) designation and the CFA Institute make special mention of 13F-based analysis for due diligence and monitoring of investment managers, as well as investment-idea-generation. CAIA includes discussion of [6] in its study materials, as well. Absent access to privileged access to manager holdings, Form 13F provides a baseline level of data with which to analyze investment manager exposures, performance attribution, and associated risks.

See also

References
  1. Securities and Exchange Act of 1934, as amended
  2. Form 13F — Reports Filed by Institutional Investment Managers, SEC website
  3. Form 13F — Covered Securities
  4. "Question 41: What about short positions?". Frequently Asked Questions About Form 13F. U.S. Securities and Exchange Commission. Retrieved 1 February 2021.
  5. NYSE Group, Inc; National Investor Relations Institute (7 October 2015). "Petition for Rulemaking Pursuant to Sections 10 and 13(f) of the Securities Exchange Act of 1934" (PDF). Retrieved 1 February 2021.
  6. Form 13F - CAIA Educational Materials 13F analysis
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