Frequently Asked Questions

Who has to file a 13F report?

The 13F report must be filed by institutional investment managers that oversee investments of $100 million or more.

When is the 13F report filed?

The 13F report is required to be filed within 45 days of the end of a calendar quarter.

What is included in a 13F report?

All securities listed by the Securities and Exchange Commission (SEC) on the Official List of Section 13(f) Securities must be reported. This includes:

  • Stocks listed on, e.g., the NASDAQ and NYSE
  • Put and call options
  • Warrants

Please note that the following securities are NOT required to be included in 13F reports:

  • Currencies, i.e., cash
  • Short positions, including short puts.
  • Commodities
  • Futures
  • Bonds
  • Securities listed on foreign exchanges
  • Shares of open-end investment companies, i.e., mutual funds
  • Confidential holdings, e.g. Berkshire's purchases of IBM (2011), Phillips 99 (2015), and Wells Fargo (1997).

Are options reported?

Yes. Options, i.e., puts and calls may be reported if they are on the official list of 13F securities.

  • Options are reported using the CUSIP number of the underlying securities to which the option relates.
  • The option's nominal value is reported (notional value). The nominal value is calculated as "the number of option contracts" × 100 × "the value of the underlying security"

Because of the way options are reported, you need to be aware of the following:

  • The calculated portfolio weighting for call and put options is not correct because nominal value is reported.
  • The strike price is not reported; there is no way of knowing which exact option was bought.


For more information, see: