Subject: File No. S7-08-20
From: Loren Arnold
Affiliation: Investor

July 27, 2020

The use of 13F data for individual investors is important data to give us insight into knowing if institutions are buying or selling certain stocks. This doesn't seem to be the way for the SEC to increase transparency in the market. Sounds like it does the opposite. It hides the transactions and holdings of all but the very largest institutions.
How does that help the public at large?