What is the 'SEC Form 13F'

The SEC Form 13F is a filing with the Securities and Exchange Commission (SEC) also known as the Information Required of Institutional Investment Managers Form. It is a quarterly filing required of institutional investment managers with over $100 million in qualifying assets. Companies required to file SEC Form 13F may include insurance companies, banks, pension funds, investment advisers and broker-dealers.


SEC Form 13F, which must be filed within 45 days of the end of each quarter, contains information about the investment manager and potentially a list of their recent investment holdings. The form was made famous by investment con artist Bernie Madoff. It provides investors with an inside look at the holdings of Wall Street's largest investment managers. While this form can provide valuable insight into the management style of some of Wall Street's best portfolio chiefs , history has proven that these forms are only truly useful to investors when the investment manager reports accurately and honestly.

Hedge Funds and 13F Forms

Institutional investors have become more prolific in the past six decades. In 1950, equity ownership among institutions represented about 8% of the total U.S. market capitalization. That percentage increased dramatically in the following 60 years. By 2010 it was estimated that 67% of all domestic stocks were controlled by institutions.

Hedge funds rose to prominence with index-busting returns that tapered off beginning with the bull run starting in 2009 after the financial meltdown. Many individual investors, attempting to replicate the strategies of iconic money managers such as Paul Tudor Jones and George Soros, peer inside 13F filings for insight into the purchase and sales of securities transacted by the pros. The Tudor Investment Corporation is captained by Jones and its portfolio holds about 1,300 stocks. In its May 16, 2016, 13F filing, Tudor’s holdings included Allergan and Starwood Hotels and Resorts Worldwide Inc. among its top-10 positions.

13F Reliability

Some investors, and even the Securities and Exchange Commission (SEC) itself, question the quality and integrity of 13F filings. In a 2010 investigation, the SEC’S findings regarding 13F reporting requirements revealed concerns around three major issues. The first finding offered that no SEC division assumed any authority to scrutinize 13F’s in general. The second conclusion stated that no SEC office analyzes 13F’s content for “accuracy and completeness. Lastly, the SEC found that the Electronic Data Gathering, Analysis and Retrieval (EDGAR) system possessed no internal checks used to monitor the filings of 13Fs.

  1. SEC Form 10

    SEC Form 10 is a filing with the Securities and Exchange Commission ...
  2. 500 Investor Rule

    A SEC stipulation requiring a company that exceeds 500 individual ...
  3. Securities And Exchange Commission ...

    A government commission created by Congress to regulate the securities ...
  4. SEC Form 18

    A filing with the Securities and Exchange Commission (SEC), more ...
  5. SEC Form NSAR-U

    An annual filing with the Securities and Exchange Commission ...
  6. Electronic Data Gathering, Analysis ...

    The electronic filing system created by the Securities and Exchange ...
Related Articles
  1. Investing

    Are Hedge Fund Letters More Valuable Than 13Fs?

    13F filings can be a useful way to track hedge fund investment strategies, but sometimes it pays to go directly to the fund leaders themselves.
  2. Investing

    Hedge Fund Billionaires Bet on Consumer Discretionary Stocks: 13F

    The latest 13F filings show that hedge fund billionaires invested in consumer discretionary stocks in Q4 of 2017.
  3. Investing

    Teva Stock Spikes After 13F Filing of Buffett's Berkshire Is Revealed

    Warren Buffett has the Midas touch: Teva soared after 13F filings showed Berkshire invested $358 million in the drug maker.
  4. Investing

    Who Bought or Sold PayPal in SEC 13F Filings?

    With 13F reports for Q2 due Aug. 15, preliminary filings reveal that a number of major investors hold PayPal.
  5. Investing

    13F Instead of 13D: Activists Make Smaller Purchases

    By purchasing smaller stakes in companies, former activist funds are making their strategies less transparent to outside investors looking for ideas.
  6. Investing

    KKR & Blackstone Diversify Portfolios (USFD, AMED)

    Both Kohlberg Kravis Roberts and Blackstone submitted 13F filings to the SEC for the second quarter, the reports are revealing.
  7. Investing

    Hedge Fund Billionaires Bullish on FANG and Retail Stocks: 13F

    Facebook and Apple were popular 4Q purchases for billionaires Warren Buffett and Barry Rosenstein, 13F filings show.
  8. Investing

    Billionaire Dan Loeb Upped Alibaba, Trimmed Google: 13F Filing

    Dan Loeb's Third Point saw its portfolio increase by 5.45% in the third quarter.
  9. Investing

    Hedge Funds Skeptical of IPOs and Favored Alibaba in Q2: 13 Filings

    13F trends show that hedge funds were leary of investing in popular IPOs, but that they tended to focus investments on Chinese e-commerce site Alibaba.
  1. How often do mutual funds report their holdings?

    Learn how mutual funds are required by the Securities and Exchange Commission to disclose their portfolio holdings on a quarterly ... Read Answer >>
  2. What is an unregistered security scam?

    Each year, millions of Americans lose money to con artists who convince them to invest in companies through "private offerings" ... Read Answer >>
  3. What information does the SEC require in an investment company's prospectus?

    Understand the lengthy list of required information that investment companies such as mutual funds must include in a prospectus ... Read Answer >>
  4. Should mutual funds be subject to more regulation?

    Understand whether mutual funds need stricter regulation. Learn what types of current and future regulations have been put ... Read Answer >>
Hot Definitions
  1. Call Option

    An agreement that gives an investor the right (but not the obligation) to buy a stock, bond, commodity, or other instrument ...
  2. Standard Deviation

    A measure of the dispersion of a set of data from its mean, calculated as the square root of the variance. The more spread ...
  3. Entrepreneur

    An entrepreneur is an individual who founds and runs a small business and assumes all the risk and reward of the venture.
  4. Money Market

    The money market is a segment of the financial market in which financial instruments with high liquidity and very short maturities ...
  5. Perfect Competition

    Pure or perfect competition is a theoretical market structure in which a number of criteria such as perfect information and ...
  6. Compound Interest

    Compound Interest is interest calculated on the initial principal and also on the accumulated interest of previous periods ...
Trading Center