When Do Form 13F Filings Come Out? Key Deadlines
Understand the crucial reporting schedule for institutional investment disclosures. Gain insight into market transparency and accessing these vital financial documents.
Form 13F is a standardized quarterly report filed with the U.S. Securities and Exchange Commission (SEC). It provides transparency into the equity holdings of large investment funds, allowing the public to observe the investment portfolios of significant institutional players.
Understanding Form 13F
Form 13F is a report mandated by Section 13(f) of the Securities Exchange Act. Institutional investment managers are required to file this form if they exercise investment discretion over at least $100 million in “Section 13(f) securities” as of the last trading day of any month in a calendar year. An institutional investment manager can be various entities, including hedge funds, mutual funds, banks, insurance companies, and trust companies.
The form specifically requires reporting on certain equity securities that trade on a national securities exchange. This includes common stocks, exchange-traded funds (ETFs), certain convertible debt securities, and some equity options and warrants. The report details the name of the issuer, the class of the security, its CUSIP number, the number of shares held, and the fair market value of those holdings at the end of the reporting quarter.
Key Filing Dates
Form 13F is a quarterly filing, meaning institutional investment managers must submit it four times a year. Each filing is due within 45 days after the end of a calendar quarter.
The deadlines are:
May 15 for the first quarter (ending March 31)
August 14 for the second quarter (ending June 30)
November 14 for the third quarter (ending September 30)
February 14 for the fourth quarter (ending December 31)
The information disclosed reflects holdings as of the last day of the preceding quarter, meaning there is a time lag between the reported data and the current market situation.
Why Form 13F Matters
Form 13F filings offer transparency into the investment strategies of professional money managers. This allows market participants to observe the equity positions of some of the largest and most influential funds. The reports can reveal what these significant institutions are buying, selling, or holding, providing insight into their perceived market opportunities.
The public can use this information to identify potential market trends or shifts in institutional sentiment toward particular stocks or sectors. While the data is historical due to the 45-day reporting lag, it serves as a valuable component of broader investment research and due diligence. Form 13F only discloses long equity positions, and does not include short positions, derivatives, or fixed-income securities.
How to Find Form 13F Filings
Once Form 13F filings are submitted, they become publicly accessible documents. The primary and official source for accessing these reports is the SEC’s EDGAR (Electronic Data Gathering, Analysis, and Retrieval) database. Users can search the EDGAR database by the name of the institutional investment manager or by their Central Index Key (CIK) code.
Beyond the SEC’s direct database, many financial news websites and data providers aggregate and present Form 13F data. These platforms often offer more user-friendly interfaces and analytical tools to help interpret the reported holdings. Such third-party services can streamline the process of reviewing and analyzing the disclosed information from various institutional managers.