Form 13F Filings
A FilingRadar Editorial guide ·
What is a Form 13F filing?
Form 13F is a quarterly report mandated by Section 13(f) of the Securities Exchange Act of 1934. Large institutional investment managers use it to disclose the US-listed equities and other Section 13(f) securities they held on the last day of the quarter. It is the single most-used public window into what hedge funds and large funds actually own— the raw material behind every "superinvestor" portfolio tracker you have seen.
The official rules and the quarterly list of 13(f) securities are published by the SEC at sec.gov. FilingRadar does not change that data — it just makes the underlying filings easier to pull and read.
Who files, the threshold, and the deadline
Any institutional investment manager exercising investment discretion over $100 million or more in Section 13(f) securities must file. That sweeps in hedge funds, pension funds, bank trust departments, insurance companies, and registered investment advisers once they cross the threshold.
The filing is due within 45 days after the end of each calendar quarter. In practice:
- Q1 ends Mar 31 → due around May 15
- Q2 ends Jun 30 → due around Aug 14
- Q3 ends Sep 30 → due around Nov 14
- Q4 ends Dec 31 → due around Feb 14
That 45-day window is the single most important thing to internalise: by the time a 13F is public, the positions are at least 45 days old, and a fast-moving fund may have already exited them.
The three 13F report types
13F-HR
Holdings Report. The full filing that actually lists every reportable position — issuer, class, CUSIP, market value, and share or principal amount. This is the one you want to read.
13F-NT
Notice.Filed when another manager reports the holdings on this filer's behalf. The notice contains no positions itself — it points to where the holdings are disclosed.
13F-HR/A
Amendment. A correction or restatement of a previously filed holdings report. Late amendments can quietly add positions that were originally withheld under a confidential-treatment request.
How to read 13F data
A 13F-HR is a table. Each row is one position, and the columns that matter to a retail reader are:
- Name of issuer + class — the company and security type.
- Value — market value of the position at quarter end (USD).
- Shares / principal amount — the size of the holding.
- Put / Call — flags option positions, not just shares.
- Investment discretion — sole, shared, or other.
The most useful work happens quarter over quarter: comparing two consecutive 13Fs to see what a manager added, trimmed, exited, or opened. A brand-new position from a respected manager is usually more informative than a position they have held for years.
What 13F data hides (the blind spots)
13F data is widely misread because people treat it as a complete picture of a fund. It is not. Scan for these gaps before drawing any conclusion:
- No short positions. A 13F shows long holdings only. A fund that looks bullish on paper may be fully hedged or net short — you cannot tell.
- No cash, commodities, or futures. The filing covers 13(f) securities, so a large cash or macro position is invisible.
- Mostly US-listed only.Foreign-listed holdings generally do not appear, so a global fund's 13F can understate its real book badly.
- Intra-quarter round trips vanish. A position opened and closed inside the quarter never shows up at all.
- Confidential treatment. Managers can ask the SEC to delay disclosing sensitive positions, so the biggest new idea may be missing from the original filing.
Form 13F FAQ
What is a Form 13F filing?
Form 13F is a quarterly report that large institutional investment managers must file with the SEC, disclosing the US-listed stocks and other Section 13(f) securities they held at the end of the quarter. It is the main public window into what hedge funds, pensions, and large funds own.
Who has to file a 13F?
Any institutional investment manager that exercises investment discretion over $100 million or more in Section 13(f) securities must file. This includes hedge funds, mutual fund managers, banks, insurance companies, and registered investment advisers above that threshold.
When are 13F filings due?
A 13F is due within 45 days after the end of each calendar quarter. So Q1 (ending March 31) is due around May 15, and Q4 (ending December 31) is due around February 14. The data is therefore at least 45 days old by the time you can read it.
What does 13F data NOT show?
A 13F shows long positions in 13(f) securities only. It excludes short positions, cash, commodities and futures, most foreign-listed holdings, and any position opened and closed inside the quarter. A manager can also request confidential treatment to delay disclosing certain positions.
What is the difference between 13F-HR and 13F-NT?
13F-HR (Holdings Report) is the full filing that actually lists the positions. 13F-NT (Notice) is filed when another manager reports those holdings on your behalf, so the notice points to where the holdings are disclosed. 13F-HR/A is an amendment to a previously filed holdings report.
What this guide is not
- Not a recommendation to copy any fund's 13F holdings.
- Not a replacement for the actual filing — the SEC source is always authoritative.
- Not investment advice. See our editorial policy.
Pull an actual 13F filing
Download the raw 13F-HR as a clean PDF, or explore related institutional and insider filings.