Free Resource
SEC Filing Cheat Sheet
Every public company files with the SEC. Here's what each filing tells you as an investor — and what to look for inside.
Filing Types
Most Important
Most Frequent
Insider Signal
10-K
Annual — The Annual ReportThe most comprehensive filing a company produces. Think of it as the company's full financial autobiography for the year. Every number that matters is in here.
What's Inside
- ▶Audited financial statements (income, balance sheet, cash flow)
- ▶Management Discussion & Analysis (MD&A)
- ▶Business overview, risk factors, competitive landscape
- ▶Executive compensation, related-party transactions
What Investors Look For
- ✓Revenue and margin trends year-over-year
- ✓Changes in risk factor language (new risks = red flag)
- ✓Cash flow vs. net income divergence
- ✓Off-balance-sheet obligations and commitments
Occam's Tip: The 10-K is where our DCF model pulls its base numbers. If you read one filing per year, make it this one.
10-Q
Quarterly — Quarterly UpdateFiled three times a year (Q1, Q2, Q3 — the Q4 data goes in the 10-K). Smaller than the 10-K but tracks the same core financials. Unaudited, so take the numbers with a grain of context.
What's Inside
- ▶Unaudited quarterly financial statements
- ▶Condensed MD&A (shorter than 10-K)
- ▶Updated legal proceedings and risk factors
What Investors Look For
- ✓Sequential revenue growth (Q-over-Q)
- ✓Margin expansion or compression vs. guidance
- ✓Cash burn rate for growth companies
Heads up: 10-Q numbers are often YTD cumulative, not single-quarter. Our scanner adjusts for this automatically.
8-K
As Needed — Material Event AlertFiled within 4 business days of a material event. This is the "breaking news" filing. If something big happens — good or bad — it shows up here first.
Common Triggers
- ▶Earnings releases and financial results
- ▶CEO/CFO departures or appointments
- ▶Mergers, acquisitions, or divestitures
- ▶Bankruptcy, delisting, or auditor changes
What Investors Look For
- ✓Auditor changes (Item 4.01) — major red flag
- ✓Guidance revisions embedded in earnings 8-Ks
- ✓Related-party transactions or material impairments
DEF 14A
Annual — Proxy StatementFiled before the annual shareholder meeting. This is where you find out how much the CEO makes, who's on the board, and what shareholders are voting on. Governance in a nutshell.
What's Inside
- ▶Executive compensation details (salary, bonus, stock awards)
- ▶Board member bios and independence status
- ▶Shareholder proposals and voting items
What Investors Look For
- ✓CEO pay vs. company performance (pay-for-performance alignment)
- ✓Board independence — too many insiders = weak oversight
- ✓Related-party transactions hiding in the footnotes
S-1
One-Time — IPO RegistrationFiled when a company goes public. This is the first time the company opens its books to the world. Often the most honest a company will ever be about its risks, because the lawyers are terrified of liability.
What's Inside
- ▶Full business model and competitive positioning
- ▶Historical financials (usually 3 years)
- ▶Use of proceeds — where the IPO money goes
- ▶Ownership structure and lockup periods
What Investors Look For
- ✓Revenue trajectory and path to profitability
- ✓Customer concentration — one big client = fragile
- ✓Insider selling plans and lockup expiration dates
13-F
Quarterly — Institutional HoldingsRequired for institutional managers with $100M+ in assets. This is how you see what Buffett, Ackman, and every hedge fund owns. Filed 45 days after quarter-end, so the data is always a bit stale.
What's Inside
- ▶Every US equity position held by the manager
- ▶Share counts and market values
- ▶Changes from prior quarter (new, increased, decreased, sold)
What Investors Look For
- ✓New positions from high-conviction managers
- ✓Crowded trades — when everyone owns the same stock
- ✓Exits — especially from long-term holders
Caveat: 13-F data is 45 days old. Don't trade on it — use it for conviction, not timing.
Form 4
Within 2 Days — Insider TransactionsFiled within 2 business days when an officer, director, or 10%+ shareholder buys or sells stock. The fastest signal you'll get from the SEC. Insiders know the business better than any analyst.
What's Inside
- ▶Who traded (name, title, relationship)
- ▶Buy or sell, share count, price per share
- ▶Transaction type (open market, option exercise, gift)
What Investors Look For
- ✓Cluster buying — multiple insiders buying at once = high conviction
- ✓CEO buying on the open market (not option exercises)
- ✓Selling into strength — insiders dumping after a run-up
Signal strength: Insider buying is a stronger signal than selling. Insiders sell for many reasons (taxes, diversification), but they buy for only one: they think the stock is going up.
At a Glance
| Filing | Frequency | Key Question It Answers | Priority |
|---|---|---|---|
| 10-K | Annual | How did the business do this year? | |
| 10-Q | Quarterly | Is the trajectory holding? | |
| 8-K | As needed | Did something material just happen? | |
| DEF 14A | Annual | Is management aligned with shareholders? | |
| S-1 | One-time (IPO) | What am I actually buying into? | |
| 13-F | Quarterly | What are the smart money managers holding? | |
| Form 4 | Within 2 days | Are insiders putting their money where their mouth is? |
See these filings in action.
Our 3-lens scanner processes SEC data automatically. Run a free valuation on any stock and see what the filings reveal.