What Is a 13F-HR?

Form 13F-HR is filed quarterly by large institutional investment managers — hedge funds, mutual funds, pension funds, and investment advisers — with at least $100 million in qualifying equity assets. It discloses every U.S. equity position the institution holds at the end of the quarter. 13F filings are the basis for tracking what major funds own.

Why It Matters

The 13F is how the public learns what Warren Buffett's Berkshire Hathaway, major hedge funds, and institutional investors are holding. These filings fuel billions of dollars in "copycat" investment strategies. They're also used to track sector rotation — which industries institutions are moving into or out of.

Key Sections

• › List of all equity positions
• › Number of shares held per position
• › Market value per position
• › Whether position is held directly or via options
• › Voting authority (sole/shared/none)

Questions This Filing Answers

• ? What stocks does [hedge fund] own?
• ? Did Berkshire Hathaway buy or sell this quarter?
• ? Which institutions own this stock?
• ? What is the largest holding in this fund's portfolio?