Within 45 days after the end of each quarter, institutional investors with at least $100 million in assets under management are required to file a Form 13Fwith the SEC. Many wait until the last possible date.
Why is ownership information important?
After a well-known hedge fund manager or an institutional investor has had a good run with a previous investment, many retail investors follow them into their "latest pick." An example of this is after Carl Icahn realized out-of-this-world returns with Netflix (NFLX), many retail investors followed him into Apple (AAPL).
