SEC Filings
Confidential Treatment
Request by a filer to keep specific positions confidential for a limited time.
Managers can ask the SEC to temporarily withhold disclosure of individual holdings ("confidential treatment") — typically when premature disclosure would jeopardise the ongoing accumulation of a large position. The SEC grants such requests sparingly and for at most one year.
Famous examples include Berkshire Hathaway, which initially built positions in IBM and Apple under confidential treatment. Once the window expires the holdings must be disclosed via a 13F/A — a moment that often draws major media attention.