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
Please note that the following securities are NOT required to be included in 13F reports:
- Currencies, i.e., cash
- Short positions, also short puts
- 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, are reported.
- Options are reported using the CUSIP number of the underlying securities to which the option relates.
- The options 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: