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13F filings, explained

The quarterly holdings report big money managers file: who files, what's in it, and what it leaves out.

The short answer

Form 13F is a quarterly report of stock holdings filed by institutional investment managers with discretion over $100 million or more in US-listed stocks and certain other securities. It's due within 45 days after each quarter ends, so it shows positions as of a date that's already weeks past. Berkshire Hathaway's 13F for the quarter ended June 30, 2026 lists 89 lines worth $299.3 billion in total.

Who files

The SEC staff's Form 13F questions and answers spell it out: any institutional investment manager that exercises investment discretion over $100 million or more in Section 13(f) securities must file. That covers mutual fund companies, pension funds, banks, insurers, hedge funds and companies like Berkshire Hathaway that invest their own money. The securities that count are on the SEC's Official List of Section 13(f) Securities, mostly US exchange-listed stocks, ETFs and some options and convertible bonds.

When it's filed

Each report is due within 45 days after the end of a calendar quarter: mid-May, mid-August, mid-November and mid-February. Berkshire's report for the quarter ended June 30, 2026 was filed on Aug 14, 2026, 45 days later, the last day allowed. By the time anyone reads a 13F, the manager may have bought or sold since the date it describes.

What's in one

A 13F has a cover page and an information table. Each line of the table gives the issuer, the class of security, its CUSIP number, the market value at quarter end, the number of shares, and who has investment discretion and voting authority.

The same stock can take up several lines. Berkshire's information table has 89 lines but only 26 different issuers, because a holding is split by which of Berkshire's subsidiaries manage it. Apple appears on 12 lines. Added together they come to 227,917,808 Apple shares worth $66.0 billion at the end of June, 22% of the report's total value. Measured against the 14.53B shares on Apple's latest 10-K cover (a count as of Oct 23, 2026), that's roughly 1.6% of the company.

Source: Apple 10-K for fiscal 2026.

What a 13F leaves out

Short positions. The staff's answer is direct: short positions aren't included, and they aren't netted against long ones.
Most non-US holdings. Shares traded only on foreign exchanges aren't on the Official List.
Cash, bonds and most other assets. The report covers the listed securities on the Official List and nothing else.
Timing. It's a snapshot of the last day of the quarter, published up to 45 days later. Trades in between don't show up until the next report.
Some positions, for a while. A manager can ask the SEC to keep a position confidential, for example while it's still buying.

13F compared with 13D, 13G and Form 4

A 13F is about the manager: everything it holds, once a quarter. A Schedule 13D or 13G is about one company: anyone with more than 5% of a class of its shares has to report that stake, within days. Form 4 covers trades by a company's own directors, officers and 10% holders, within two business days. A large manager can file all three.

The full filing is on SEC EDGAR, and Finding filings on SEC EDGAR shows how to look up any manager's 13Fs.

Common questions

Who has to file a 13F?

Institutional investment managers that exercise investment discretion over $100 million or more in Section 13(f) securities, which are mostly US-listed stocks and ETFs on the SEC's official list.

When are 13F filings due?

Within 45 days after the end of each calendar quarter. Berkshire Hathaway's report for the quarter ended June 30, 2026 was filed on Aug 14, 2026.

Do 13Fs show short positions?

No. Short positions aren't reported on Form 13F, and managers don't subtract them from their long positions.

Why does the same stock appear several times in a 13F?

Lines are split by who has investment discretion and voting authority. Berkshire's 13F lists Apple on 12 separate lines that add up to 227,917,808 shares.

Is a 13F up to date?

No. It shows holdings on the last day of the quarter and can be filed up to 45 days later, so positions may have changed by the time it's public.

Disclosures

Editor holdings: The editor holds no position in any company named on this page. As of Nov 11, 2026.
Compensation: Nobody paid for this page. No affiliate links on this page.
Sources: Each company's own SEC filings, linked next to each number.
Last updated: Nov 9, 2026

General education, the same for every reader. Not a recommendation to buy, sell or hold any security, and it doesn't consider your situation.

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