Subject: File No. S7-08-20
From: Luke R Gawel

July 27, 2020

I would like to urge the committee not to change the threshold on 13 F filing doing so will reduce the much needed transparency. Most Individual investors do not have access to insider information which many large account managers rely on. Investors need to have trust in our markets and institutions, allowing 13F filing to remain at 100 million is one of those steps