EDGAR Form 13F

Discussion in 'Educational Resources' started by Peter8519, May 27, 2019.

  1. Peter8519

    Peter8519

    Hi Folks,

    Hedge funds and asset managers submit this form quarterly. This data is a bit dated. But if we just look at the position(new, up & down trend, exit), would that be helpful ?

    Thanks in advance for your comments.
     
    777 likes this.
  2. ETJ

    ETJ

    1. To your point somewhat helpful and although many managers will game it
    2. No cash-settled option included in 13 F requirement
    3. Helps to look at cash flows in/out sectors
    There are alt. data providers that will filter the filings and this can be especially helpful.
    4. The age of the data is an issue if you are looking at an active manager - less so if you looking at a buy and hold manager.
    5. If you are especially looking at the activities of a specif manager it can be a great resource.
    6. Some mutual funds report monthly so much more relevant data.
     
    Peter8519 likes this.
  3. Peter8519

    Peter8519

    Your point No.2 on option can distort AUM. Bridgewater report less than $20B in their 13F but based publish report they more than $200B AUM. Am I missing something here ?
     
  4. They also do not report "Shorts".
     
  5. What’s more, the SEC itself admits that 13F filings are not necessarily reliable because no one at the SEC analyzes the content for accuracy and completeness. That means investors should take them with a big pinch of salt. After all, the infamous fraudster Bernard Madoff dutifully filed 13F forms every quarter.

    reference : https://www.investopedia.com/terms/f/form-13f.asp
     
    Peter8519 likes this.
  6. 777

    777

    They provide candidate moves for investors to consider.

    Many smart people such as Monish Pabrai look at them.
     
    Peter8519 likes this.
  7. Peter8519

    Peter8519

    They do. The 13F holding report is by CUSIP. It's a bit complicated. Some managers report the equity CUSIP and indicate PUT or CALL in the PUT/CALL column. Others just report CUSIP for PUT or CALL. CALL = 90(7th and 8th CUSIP digit). PUT = 95(7th and 8th CUSIP digit).
    E.g. AMD 07903107
    AMD CALL 007903907
    AMD PUT 007903957

    Equities with high PUT/CALL tend to have higher price volatility.
     
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