13F Filings Explained: How to Track Hedge Fund Moves
Understand what SEC Form 13F reports, its $100 million threshold, filing deadline and limits before comparing a fund's quarterly holdings.
Form 13F reports certain securities held at quarter-end by covered institutional investment managers. The reporting threshold is $100 million in Section 13(f) securities, and filings are generally due within 45 days after quarter-end. A holdings change does not reveal the exact trade date or price.
What is in the report
The SEC publishes the official list of Section 13(f) securities. It includes many US-listed equities and some other instruments. The report is not a complete balance sheet: cash, short positions and securities outside the reporting list are missing.
Compare share counts carefully
A higher market value can reflect a higher share price. Compare share counts as well as values across quarters. Stock splits, amendments, different share classes and changes in reporting entities can also affect the comparison.
Separate holdings from transactions
A new quarter-end position shows that the manager reported it at that date. It does not show when it was opened, whether it was traded during the quarter or whether it is still held. Do not infer an entry price from the quarter-end valuation.
Check amendments and reporting entities
Look for amended filings and read the manager's identifying information. The same investment business can report through more than one entity. A tracker should explain how it handles those records.
Use the filing to start research
Read several quarters to understand reported exposure, then check the company and current market context. AlphaYou's fund pages connect holdings with existing source-linked disclosure pages.
FAQ
Does a 13F show shorts?
No. Short positions are not reported on Form 13F.
Can it tell me when the manager bought?
No. It reports holdings at quarter-end, not an exact transaction history.
Are all securities included?
No. Coverage follows the SEC's Section 13(f) securities list and reporting rules.
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