The SEC’s Electronic Data Gathering, Analysis, and Retrieval (EDGAR) system has been updated to include the new Form 13F online application. The ability to file online corresponds with the original goal of Section 13(f) of the 1975 Securities Exchange Act to “increase the public availability of information regarding the securities holdings of institutional investors.” The new online application “illustrates each step of the process to submit an electronic submission and helps filers understand the tools provided by the SEC for constructing and transmitting those submissions.” This update should make it easier for firms to provide current and accurate information about their holdings.
Form 13F is the holdings report form of institutional investment managers that “use the U.S. mail (or other means or instrumentality of interstate commerce) in the course of its business” and exercise “investment discretion over $100 million or more in Section 13(f) securities.” Institutional investment managers include “investment advisers, banks, insurance companies, broker-dealers, pension funds, and corporations.” Form 13F must include information like the issue name of all Section 13(f) securities, a description of the class of security listed, the number of shares owned, and the fair market value of the securities listed.