Understanding 13F Amendment Filings: HR vs HR/A Explained
Not every 13F is the final word. Amendments (13F-HR/A) can restate holdings, reveal hidden positions, and change portfolio data retroactively. Here is how to handle them.
Not every 13F filing is the final word. Institutional investors can amend their quarterly holdings reports by filing a 13F-HR/A, which restates the original filing. Understanding amendments helps you avoid using outdated data and catch important corrections.
TL;DR
- 13F-HR is the original quarterly filing. 13F-HR/A is an amendment that restates it.
- Amendments can change position sizes, add missing holdings, or correct errors.
- Goldman Sachs filed its Q4 2025 13F as an amendment, restating the original.
- Always check the filing date and type to ensure you are reading the most current version.
HR vs HR/A: What Is the Difference?
| Filing Type | Meaning | When Filed |
|---|---|---|
| 13F-HR | Original quarterly holdings report | Within 45 days of quarter end |
| 13F-HR/A | Amendment restating the original | Any time after the original |
| 13F-NT | Notice of late filing (no holdings data) | When the filer cannot meet the 45-day deadline |
Why Filers Amend
- Position corrections: The original filing contained errors in share counts or values.
- Missing holdings: Some positions were accidentally omitted and need to be added.
- Confidential treatment expiration: Holdings previously granted confidential treatment are now disclosed in an amendment.
- Subsidiary consolidation: The filing entity restructured and needs to restate which holdings fall under its reporting.
How Amendments Affect Your Analysis
When you see a filer's AUM or holdings change retroactively between data pulls, an amendment is usually the cause. On 13F Insight, the most recent filing version is always displayed. But if you are comparing data from different sources, discrepancies may reflect one source using the original and another using the amendment.
Confidential Holdings
Some filers request confidential treatment for specific positions, allowing them to omit holdings from the original filing. When confidential treatment expires (typically after one quarter), the positions appear in an amendment. This means an HR/A filing can reveal positions the filer actively tried to hide during the reporting period — often their most interesting new investments.
FAQ
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