Subject: File No. S7-08-20
From: Fabio Jose R de Matos

July 14, 2020

It would severely diminish the quantity and quality of any investor to analyze a potential investment. The 13F is a key piece of the analysis process. Why are the big funds against disclosure... Mutual Funds/ETF's disclose their holdings. I recommend keeping the current guidelines as it helps all investors make a better informed investment decision.

Thank You.