Subject: File No. S7-08-20
From: Joseph Wachtel

July 17, 2020

I strongly disagree with the.motion to change the reporting requirements. The more transparency the greater the confidence the public has in the markets. Im an individual investor, i hold over 70 stocks and various Funds. When I do look at Mutual Fund reports its not to initiate a position but to see which funds with the best track records are invested and what percentage they own. On the other hand Im sure that some investors would be concerned that funds are dumping stocks that they own.