Hedge Funds

SEC forces D. E. Shaw to show hand


In a setback for quantitative-oriented D. E. Shaw, the SEC notified the firm last month that it must publicly disclose equity positions that it previously kept confidential.

Most hedge funds with $100 million or more of equity assets must publicly disclose their long holdings on a quarterly basis using Form 13F.

But D. E. Shaw, which runs more than $7 billion of capital and recently held more than $20 billion of notional equity assets, had in the past been able to file some of its holdings confidentially.

The SEC enables investment funds to make confidential filings only in certain cases,