Investing
What is Form 13F?
Form 13F is a quarterly SEC filing required of institutional investment managers exercising discretion over at least $100 million in qualifying US-listed securities. It discloses long positions as of quarter end and is filed within 45 days after.
A 13F is narrower than it is usually described. It covers long positions in qualifying securities only: short positions, cash, most debt and non-US listings do not appear. For a large bank, much of what does appear is market-making and client facilitation inventory rather than a house view.
Two mechanical details cause most misreadings. The filing is a snapshot up to 45 days stale on publication. And each row carries a put/call field — option rows are reported at the notional value of the underlying, not the premium paid, so counting contracts as shares invents positions that do not exist.
Related
Definitions are educational and general. Nothing here is financial, legal or tax advice, and regulatory descriptions summarise frameworks that change — check the current rules for your jurisdiction before relying on them.