What is a 13F filing?
Form 13F is a quarterly report that every institutional investment manager with at least $100 million in qualifying US securities must file with the SEC within 45 days of quarter end. It lists the manager's long positions in US-listed stocks, ETFs and some options at the quarter-end date, with share counts and market values. It is the public source behind every "what did Warren Buffett buy" article.
Who has to file a 13F?
Any institution exercising investment discretion over $100 million or more of "Section 13(f) securities" — mostly US exchange-listed equities, ETFs, convertible bonds and equity options. Hedge funds, mutual fund complexes, pension funds, banks, insurers and family offices all qualify once they cross the threshold. Roughly 8,000 filers report each quarter.
Individuals, non-US assets and managers under the threshold do not file, which is why some famous investors never appear in 13F data.
What does a 13F show?
Each filing is a table of holdings as of the last day of the calendar quarter: issuer name, security class, CUSIP, market value, number of shares, and whether the position is a put or call option. Fundocap aggregates these rows per manager, computes portfolio weights and compares them with the previous quarter to derive new buys, adds, reductions and exits.
The filing does not show purchase prices, dates of trades within the quarter, or the manager's reasoning.
When are 13F filings due?
Within 45 days after each quarter end: around 15 May, 14 August, 14 November and 14 February. Most large managers file in the last days of the window, so the information is at least six weeks old when it appears. The filing calendar page tracks the next deadline and which superinvestors have already filed.
What is not in a 13F?
Short positions, most derivatives, bonds, cash, private investments and non-US securities are excluded. A manager that is net short a stock through swaps can still show a long position in the 13F. Confidential treatment requests can also delay disclosure of specific positions. See the limitations guide for how this affects interpretation.
How do investors use 13F data?
Three common uses: following the portfolio changes of investors with long track records, measuring consensus (how many managers hold a stock and whether they are adding or reducing), and screening for concentrated managers whose top positions carry real conviction. Fundocap turns each into a page: guru pages, rankings and the emerging managers screen.
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Frequently Asked Questions
Is 13F data free?
Yes. Filings are public on SEC EDGAR. Fundocap parses them and shows the top positions, rankings and insider signals without an account; full tables and exports are part of the Pro plan.
How reliable is 13F data?
It is a legal filing signed by the manager, but it is dated (up to 45 days old), long-only and can contain amendments. Treat it as a quarterly snapshot, not a live portfolio.
13F data shows quarter-end positions, is delayed by up to 45 days and covers only long positions in US-listed securities; short positions, most derivatives and non-US assets are not reported.