What big investors reported holding

How to read it

• Quarters, not days. A 13F shows holdings on the last day of a quarter. Managers have 45 days to file, so "Q2" data (30 June) becomes public by mid-August.
• Changes compare a manager's position with the same position one quarter earlier, by number of shares: New, Added, Reduced, Sold out. A manager filing for the first time is marked First filing rather than counted as buying, and a manager who didn't file is never counted as selling. Share counts from before a stock split are adjusted, so a split doesn't look like buying.
• Most bought / sold estimates the dollars that went in or out: each manager's change in reported value, minus what the price change alone would have done, added up across managers.
• Options are listed separately. For calls and puts, filers report the value of the underlying shares (notional), so they are never added to share holdings.
• Values are as reported by the filer at quarter end, in US dollars.

What 13F doesn't show

• Short positions, cash, and most non-US-listed securities.
• Managers below the $100m threshold, and positions withheld under confidential treatment. Some managers withhold their entire book in alternate quarters; when that happens their positions are marked Not comparable rather than New, and nothing is shown as sold.
• Anything after the quarter end: positions may have changed since.
• Totals across managers count shares once when two managers' reports both contain them and the filings say so (a parent's report that includes a subsidiary's holdings, which the subsidiary reports too). Overlaps the filings don't declare can't be seen, so holder counts are still more reliable than summed totals.

How the data is prepared

• Source: the SEC's quarterly Form 13F data sets.
• Amended filings replace or add to the original as the amendment specifies.
• Filings that report values in the wrong unit (some managers still report in thousands of dollars, which the SEC stopped allowing in 2023) are detected by comparing their per-share values with other managers' and corrected.
• Securities are identified by CUSIP (check digits validated); option codes are mapped to the underlying security. Names are the spelling most filers use; tickers come from OpenFIGI.
• Company profiles: sector and industry come from each company's own record at the SEC (EDGAR), shares outstanding from its latest 10-K/10-Q cover page, and the one-line descriptions, founding years and websites from Wikidata (public domain, CC0).
• Manager profiles (assets under management, staff, main client types, private funds) come from each adviser's Form ADV registration, using the SEC's monthly adviser data. Assets under management there cover everything the firm manages, so they're usually larger than its 13F holdings.
• Insider purchases and sales come from the SEC's quarterly insider transactions data sets (Forms 3, 4 and 5). Only purchases and sales are shown, not grants, option exercises or gifts. An amended form replaces the one it corrects. A price far from the market price is treated as a typo and its dollar value left out, and a trade reported by more than one insider is counted once in totals.
• Major shareholders (over 5%) come from Schedules 13D and 13G, read from each filing's structured data on SEC EDGAR. Those exist from 19 December 2024 (earlier filings are free text), so stakes reported only before then are missing. A filing that names several related holders (a fund, its manager, the parent) counts as one stake, the largest of theirs.
• Legal entities and corporate groups come from the LEI register published by the Global Legal Entity Identifier Foundation (GLEIF, CC0). A manager is matched by its exact legal name, else by the LEI in its Form ADV or that of its listed shares; its group is the parent that consolidates it in its accounts, as reported to the register.
• Each manager links to its original filing on the SEC's website, and each insider trade and major-shareholder stake to its filing.

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Disclaimer

• No assurance of accuracy or completeness. Vault-13 is provided as is, for general information only. The figures are processed automatically from filings that can themselves contain errors, and several are corrections or estimates on our part (split adjustments, value-unit corrections, estimated dollars bought and sold, tickers, how insider amendments and repeated trades are handled, which security a 5% stake is attached to, which legal entity and group a manager belongs to, which shares two reports both contain). We make no representation or warranty that anything on this site is accurate, complete or up to date.
• No liability. To the fullest extent permitted by law, we accept no liability for any loss or damage arising from the use of, or reliance on, this site or its data.
• Not investment advice. Nothing here is a recommendation to buy, sell or hold any security.
• Go to the source. Everything here comes from public sources you can check yourself, and we'd encourage you to do so for anything that matters: each manager's filing on SEC EDGAR (linked from every manager page), the SEC's Form 13F data sets, each insider trade's Form 4 (linked from the trade), and OpenFIGI for identifiers.
• Vault-13 is not affiliated with or endorsed by the U.S. Securities and Exchange Commission or GLEIF.