What is a 13D-G filing
A 13D-G must be filed with the SEC when a hedge fund acquires 5% or more beneficial ownership of a company’s equity securities.
What does beneficial ownership include
A hedge fund’s beneficial ownership includes typically common shares, shares in call options, warrants, and convertible notes.
When must a 13D-G be filed
Typically, within 10 days after a 13D-G filing requirement is triggered.
What is the Event Date in a 13D-G filing
The Event Date is the date when a hedge fund acquired beneficial ownership of greater than 5% of a class of securities that triggered requirement of filing a 13D-G.
Why is the Event Date important to us
One can estimate the price a hedge fund paid for shares on the event date if shares were acquired in the open market. If shares were purchased from shares offering, then its offering price can be easily found in a press release.
How soon do hedge funds typically file a 13D-G when required
Our analysis indicates 20% of filings are made within 24 hours and 50% are done in the first 5 days.
What stock sector has the most filings in a year
40% of 13D-G filings are for Biotech stocks. Stocks in Biotech, Consumer Services, and Technology represent majority of 13D-G filings.