Notes on Various 13F Portfolio Properties
This page provides guidance on the completion of property entries for InvestmentDiscretion13FUS, InvestmentManager13FAffiliation, VotingAuthority13FUS, and InvestmentManager13F.
SOLE: Only one entity manages Section 13(f) securities and the entity does not control (or is not controlled by) another reporting persona.
DFND: (Defined) The entity that manages Section 13(f) securities controls (or is controlled by) another reporting persona.
OTR: (Other) Investment discretion is shared in a manner that does not fit into the 'SOLE' or 'DEFINED' category.
For the legal definition of each value from the SEC, please see form 13F FAQs (questions 45 - 47).
Affiliated: The portfolio is managed by a group entity.
UnaffiliatedExclude: The portfolio is managed by an unaffiliated entity who is responsible for reporting the positions, and is thus excluded from the group's reporting obligations.
UnaffiliatedInclude: The portfolio is managed by an unaffiliated entity, and the group is responsible for reporting the positions on the entity's behalf.
A more detailed consideration of these values may be found in this FundApps article.
SOLE: Voting authority on non-routine matters (e.g., contested election of directors, merger, sale of substantial assets, change in articles of incorporation affecting shareholders, change in fundamental investment policy). If voting authority is shared only in a manner similar to a 'SHARED' (Defined) investment discretion, the voting authority should be reported as 'SOLE', depending on the voting rights of the account holders.
SHARED: Voting authority on non-routine matters and depending on the voting rights of the account holders.
NONE: No voting authority or voting authority ONLY on routine matters (e.g., selection of accountant, the uncontested election of directors, approval of annual report).
Please see [SEC form 13F FAQs, question 50a](https://www.sec.gov/divisions/investment/13ffaq.htm) and [SEC 13F General Instructions, section 12.b.viii](https://www.sec.gov/about/forms/form13f.pdf) for more details on the definition of each value.
This portfolio property requires the name of the 'institutional investment manager' under U.S. Section 13F(1)(b), which holds 'investment discretion' over the portfolio.
In case there is more than one investment management entity involved with shared investment discretion, please provide the name of the manager. Ensure to set the exact same value/name across all portfolios that share the same 13F investment manager. Rapptr will generate missing data if the InvestmentManager13F property is not defined on a given portfolio. This is because the Major US: 13F rule runs on the Top entity of the ‘Management’ aggregation structure and Rapptr requires this information.
Please see the SEC FAQ Question 6 for detail on 'investment discretion'.
U.S Section 13F (1)(b) https://www.ecfr.gov/cgi-bin/text-idx?node=17:184.108.40.206.1&rgn=div5#se17.4.240_113f_61