Subject: File No. S7-08-20
From: M Sands

July 22, 2020

This change should NOT happen. Hedge fund holdings should be transparent, not opaque. This allows less governance of these large companies. Havent we learned what happens when Wall Street lacks oversight? The number of companies that would be excluded from disclosing their holdings is too great. Im for more visibility when it comes to Wall Street, not less.