How to Download Position Changes to Excel from Form 13F
How to Download Position Changes From 13F Holdings to Excel
November 14th is next week, and with it, all investment managers with more than $100m in US equity holdings will be required to file a form 13F. These include hedge funds, mutual funds, private equity funds, family offices, trust companies, among others. We thought it would be a good time to review some of the functionality in Symmetric to help newcomers to the service with getting the most out of the platform during this time. Who knows, it may help some old-timers as well!
Today’s post follows our previous post on downloading 13F holdings data to excel and is targeted toward helping clients see and download the position changes from managers they follow.
Monitoring 13F Holdings Data with Symmetric
Symmetric clients include more than a hundred funds of funds, family offices, pensions, endowments, among other institutional investors. They use our cloud service to keep track of investment managers, their positions, exposures, and their day to day moves. This includes monitoring and analysis of disclosed 13F holdings. It’s a simple portfolio monitoring solution that helps automate the manager monitoring process. To that end, I’m going to show two ways to download disclosed holdings data from the system. There are many others — some clients actually buy our data-feeds, including the holdings and proprietary, behavioral factors. But we’ll stick with two examples from the web for now.
Position Change Analysis of 13F Holdings for a Single Manager
Managers regularly change their positions. Even the highest conviction positions will change over — sizing up, sizing down and perhaps selling out. You can assess changes in the manager’s positions in three simple steps. First, go to the manager’s page. You can use the Search Bar at the top right to find a manager if you’re just getting started.
When you’re on the manager’s page, just click the tab that says Position Level Data – just like you’re going to download the positions. When you’re on that screen, just click the Position Changes tab. The screen below illustrates the Search Bar, Manager Profile, Position Level Data tab, and the Position Changes sub-menu tab.
This table will show all the new, closed, increased and decreased positions, as of the latest disclosure. Moreover, when you download the position information, you can easily see the change-records for the individual manager, as well. This simplifies it with a handy digest of everything that happened from period to period.
Download Position Change Analysis of 13F Holdings to Excel for Multiple Managers
Our next example is for how to download everything to Excel for a group of managers. It includes the change-information for the entire holdings, as well as stock information, position characteristics, crowding & consensus scores, performance and overlap among managers. This allows you to download everything for a group a managers into a single workbook.
You can download the holdings for a portfolio of manager’s positions in three simple steps. First, go to the portfolio page by clicking on the tab at the top of the screen marked Portfolios. If you haven’t set up a portfolio, you can do so by clicking the button marked + New Portfolio of Managers. Adding managers is a snap, allows individual weights, and is helped along with ultra-fast search. The screen grab below illustrates the window after you’ve named your new portfolio. You can see that I’ve just begun adding names with a 20% weight for the hedge funds Tiger Global and Whale Rock. Soroban Capital is up next: should it be weighted 20%, 30% or just 10%?
Once you have your portfolio in place, you’ll see it in the list on the portfolio page. We also stock the portfolio page with portfolios of managers by style, such as Activists, Healthcare Funds, Tiger Cubs, Quants, etc. This comprises a sampling of the investor-type classifications that we manage. Click on the name of the portfolio that you want to download. It will show you the overview analysis of the portfolio. Then click on the Position Changes tab on the menu that sits below the Portfolio header. In this case, it says Portfolio / Activists, and you can see the Position Changes tab highlighted near the middle. The image below illustrates the portfolio view, the menu, and the position changes table. The table includes stock information, position characteristics, consensus & crowding scores, stock performance, and overlap among managers on any given position in the portfolio
The third and final step: click on the button marked Download To Excel. This will give you two options: top positions or position changes. The first is a report of the contribution of the top positions to a manager’s performance. We can cover this later. The second illustrates the position changes for all the managers in the portfolio. This is what we will discuss for now. When you download to excel the position changes for the 13F holdings of the portfolio of managers, you won’t just get a worksheet. It includes a full workbook. The workbook contains sheets for Top Positions, New Positions, Increased Positions, Decreased Positions, Closed Positions, Top Positions by Percent of Institutional Float, and Top Inflows & Outflows. Each sheet summarizes the larges changes across the entire portfolio –whether it’s increases, decreases, new, etc. Each sheet will also list out all the changes that pertain to each manager in the portfolio. The screen grab below illustrates a worksheet from the Position Changes Workbook for tracking 13F holdings changes.
And That’s How You Download Position Changes from 13F Holdings Data to Excel
Again, there are many other ways to extract 13F holdings data from the Symmetric platform. Indeed, some clients, such as our quantitative investor clients, actually buy our data-feeds. These include cleaned, survivorship unbiased holdings data, investor classifications, and our proprietary behavioral factors, including stress, crowding, turnover, etc. Please feel free to get in touch if you have any questions or would like us to drill down on any specific areas of functionality.