What is Form 13F?

Form 13F is filed quarterly by institutional investment managers that exercise investment discretion over at least $100 million in certain US-listed securities. It is due within 45 days after the end of each calendar quarter.

What it shows—and what it does not

A 13F lists the manager’s long positions in reportable securities at quarter-end: the security, number of shares, and market value. It does not show:

• short positions or most derivatives strategies,
• non-US holdings or cash,
• trades made during the quarter or after quarter-end.

Because of the filing lag, a 13F is a snapshot that can be up to 45 days old when published.

How people use it

Comparing one quarter’s 13F with the previous one shows which positions a manager added, reduced, opened, or closed. That makes well-known funds’ filings popular reading each quarter. Treat the result as history, not as a live portfolio.

Common pitfalls

• A position may have been sold after quarter-end.
• Some managers receive confidential treatment for certain holdings.
• Large firms report across many funds with different strategies.

13F filings are public on SEC EDGAR.

This glossary entry is general information, not investment advice.