SEC filings are INCREDIBLY useful
But, the forms names are confusing
Here are the 9 filings that every stock picker needs to know:
But, the forms names are confusing
Here are the 9 filings that every stock picker needs to know:
10-K
What: Annual Report (if you only read 1 filing, make it this one)
When: 1x/year
Key Information:
▪️Business Overview
▪️Income Statement
▪️Balance Sheet
▪️Cash Flow Statement
▪️Management’s discussion & analysis
▪️Insider Ownership
▪️Risks
Here’s $AAPL recent 10-k:
What: Annual Report (if you only read 1 filing, make it this one)
When: 1x/year
Key Information:
▪️Business Overview
▪️Income Statement
▪️Balance Sheet
▪️Cash Flow Statement
▪️Management’s discussion & analysis
▪️Insider Ownership
▪️Risks
Here’s $AAPL recent 10-k:
10-Q
What: Quarterly Report
When: 3x/year (the 4th is the 10-K)
Key Information:
▪️Income Statement
▪️Balance Sheet
▪️Cash Flow Statement
▪️Management’s discussion & analysis
Here’s $META recent 10-Q
What: Quarterly Report
When: 3x/year (the 4th is the 10-K)
Key Information:
▪️Income Statement
▪️Balance Sheet
▪️Cash Flow Statement
▪️Management’s discussion & analysis
Here’s $META recent 10-Q
8-K
What: Current Report
When: An unscheduled “material event” occurs
Ex:
▪️Acquisition
▪️Delisting
▪️Management change
▪️Public event
Here’s the 8-K when $ADBE announced it was buying Figma
What: Current Report
When: An unscheduled “material event” occurs
Ex:
▪️Acquisition
▪️Delisting
▪️Management change
▪️Public event
Here’s the 8-K when $ADBE announced it was buying Figma
S-1, S-1A
What: Registration statement BEFORE a company comes public
Key Information:
▪️Business Description
▪️Pre-IPO financials
▪️Management’s discussion & analysis
▪️Use of proceeds
▪️Biggest shareholders
▪️Risks
Here’s $RIVN S-1 table of contents
What: Registration statement BEFORE a company comes public
Key Information:
▪️Business Description
▪️Pre-IPO financials
▪️Management’s discussion & analysis
▪️Use of proceeds
▪️Biggest shareholders
▪️Risks
Here’s $RIVN S-1 table of contents
424B4, 424B7
What: Registration statement AFTER a company comes public
Key Information:
▪️How many shares were sold
▪️IPO Pricing
▪️Post-IPO balance sheet
Here’s how much $RIVN raised from its IPO
What: Registration statement AFTER a company comes public
Key Information:
▪️How many shares were sold
▪️IPO Pricing
▪️Post-IPO balance sheet
Here’s how much $RIVN raised from its IPO
DEF 14A (Proxy Statement)
What: Annual meeting proxy information
When: 1x/year
Key Information:
▪️Items of vote for shareholders
▪️Executive compensation
▪️Inside Ownership of management/board
Here’s $NVDA DEF 14A from 2022
What: Annual meeting proxy information
When: 1x/year
Key Information:
▪️Items of vote for shareholders
▪️Executive compensation
▪️Inside Ownership of management/board
Here’s $NVDA DEF 14A from 2022
SC-13G, SC-13D
What: A person/group now owns more than 5% of the company’s stock
Key Information:
▪️Buyer name & ownership stake
Here's the SC-13G when @elonmusk bought 9.2% of $TWTR
What: A person/group now owns more than 5% of the company’s stock
Key Information:
▪️Buyer name & ownership stake
Here's the SC-13G when @elonmusk bought 9.2% of $TWTR
Form 3, Form 4, Form 5
What: Up-to-date insider ownership
Who:
▪️Management
▪️Board members
▪️An outside investor owns 10%+ of the company
Form 3 - Initial reporting
Form 4 - Change in ownership
Form 5 - Annual ownership statement
Here's @JeffBezos update $AMZN ownership:
What: Up-to-date insider ownership
Who:
▪️Management
▪️Board members
▪️An outside investor owns 10%+ of the company
Form 3 - Initial reporting
Form 4 - Change in ownership
Form 5 - Annual ownership statement
Here's @JeffBezos update $AMZN ownership:
International companies also have SEC filings:
The names are different, but the data is the same:
F-1 ➡️ IPO Prospectus (Like an S1)
20-F ➡️ Annual report (Like a 10k)
40-F ➡️ Annual report (Canadian 10k)
6-k ➡️ Press release / 10Q
Here's $BABA recent 20-F
The names are different, but the data is the same:
F-1 ➡️ IPO Prospectus (Like an S1)
20-F ➡️ Annual report (Like a 10k)
40-F ➡️ Annual report (Canadian 10k)
6-k ➡️ Press release / 10Q
Here's $BABA recent 20-F
All of these forms are on the SEC website
Search for "SEC EDGAR database"
EDGAR = Electronic Data Gathering, Analysis, and Retrieval system
Type any stock symbol to get the data
Here's how to find $HD filings:
Search for "SEC EDGAR database"
EDGAR = Electronic Data Gathering, Analysis, and Retrieval system
Type any stock symbol to get the data
Here's how to find $HD filings:
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The 3 most important filings:
1⃣ 10-K (Annual Report)
2⃣ DEF 14a (Proxy Statement)
3⃣ 424b4 (Post-IPO Data & Financials)
Here’s a summary & useful cheat sheet:
1⃣ 10-K (Annual Report)
2⃣ DEF 14a (Proxy Statement)
3⃣ 424b4 (Post-IPO Data & Financials)
Here’s a summary & useful cheat sheet:
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