SEC Confronts Filing Backlog as Investors Await Berkshire ReportMiles Weiss
The U.S. Securities and Exchange Commission said it’s working to post a backlog of corporate filings on a day when investors await quarterly reports on holdings by investment firms including Berkshire Hathaway Inc.
The SEC’s system for receiving documents from companies “remained up and running and able to accept filings throughout the day, but dissemination of the filings stopped at 3:43 p.m.” in Washington, said John Nester, an SEC spokesman. “We have since restored the dissemination service and are processing the backlog of filings,” he said today, without elaborating on what caused the delay.
Institutional money managers overseeing $100 million or more of equities listed on U.S. exchanges must file a Form 13F within 45 days of the end of a quarter. The forms list the number of shares held in each company and the market value of the stake on the period’s final trading day. Managers also are required to include information on some convertible debt securities and exchange-traded options.
Today was the deadline for second-quarter filings. While the SEC released 13Fs from firms including Daniel Loeb’s Third Point LLC and George Soros’s Soros Fund Management LLC minutes before 6 p.m. in New York, the report by Omaha, Nebraska-based Berkshire, led by Warren Buffett, wasn’t posted as of 8 p.m.