I thought that as well. Large doesn't necessarily mean professional. A properly wealthy investor buying large once a year doesn't make him a professional. I'm curious if there are fees involved, I'm seeing conflicting information.
At what level is a trader considered to be a Large Trader? Does this relate to the account size, or to the amount of trading a trader does?
Click on @ajacobson's link. Basically it is the dollar value or the share quantity exceeds a certain daily or monthly limit. Question 1.3: How are options calculated for purposes of the identifying activity level? Answer: As provided in Rule 13h-1(a)(7), the identifying activity level means aggregate transactions in NMS securities that are equal to or greater than: During a calendar day, either two million shares or shares with a fair market value of $20 million; or During a calendar month, either twenty million shares or shares with a fair market value of $200 million.
Thank you. I did read that question 1.3 and assumed that the answer only related to option traders. Maybe I need to interpret it such that items 1 and 2 also apply to traders who don't trade options.
It's rare but the SEC has a provision for a cutout of all series 13 filings. It's kind of a privacy provision if you are a natural person, residing in the US, and rarely trigger an event. If most of your activity is none 13F securities an experienced attorney may be able to get the entire 13H reporting waived.
received a reply from edgar filing service after 2 days, now ready to file the 13F when the time comes / the volatility returns...
There are SEC Filing Agents who can procure your large trader ID by filing all the requisite SEC forms for a small fee and minimal hassles. Check out https://ltid.acii.com