Exactly, when an entity first becomes a 5% holder, then within ten days they must file a 13d or 13g but thereafter if they make changes to their position between 5% and 10% they don't have to report it until their next annual 13d or 13g.
A 5% holder has to file their buys or sells within the 3 days,just like 10% holders. If it`s less than 5% than they report it with the rest of the Tute % numbers that come out quarterly.
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