Washington, D.C., Feb. 18, 2026 — The U.S. Securities and Exchange Commission today proposed amendments to Form N-PORT, the reporting form used by most registered investment companies to disclose portfolio-related information to the Commission. The agency said the proposed changes are designed to reduce reporting burdens without significantly affecting the SEC’s use of the data or the public’s ability to assess relevant information about a fund.
The proposal follows a review conducted in accordance with a Presidential Memorandum of amendments the Commission adopted in 2024 related to Form N-PORT. According to the SEC, the current proposal reflects developments that have occurred since those amendments were adopted.
SEC Chairman Paul S. Atkins said reducing unnecessary reporting burdens and increasing efficiency in disclosure requirements is a top priority of the Commission. He stated that the proposal would provide registrants additional time to file the form, refine reporting items, and reduce the frequency of public reporting of fund portfolio holdings, while retaining insight into funds’ portfolio-related issues.
Proposed changes to form N-PORT
Under the proposal, reporting funds would receive an additional 15 days to file monthly reports of portfolio-related information on Form N-PORT. The Commission said the extension is intended to reduce potential errors and resubmissions.
The proposal would also reduce the public availability of fund portfolio holdings from monthly to quarterly. The SEC said the change is designed to protect shareholders by limiting risks associated with more frequent disclosure, including the possibility that third parties could use portfolio information in ways that increase costs for funds and their investors.
The amendments would further modify Form N-PORT by streamlining or removing certain reporting items, including reporting related to the “Names Rule.” The proposal would also add reporting requirements for funds with share classes that operate as exchange-traded funds.
Extension of names rule compliance dates
In a separate action taken in connection with the proposal, the Commission extended the compliance dates for certain Form N-PORT reporting requirements related to the “Names Rule” under the Investment Company Act of 1940, which governs certain investment company names. The SEC said the extension is intended to provide additional time for funds and the Commission to consider the proposed amendments and to avoid costs associated with requirements the Commission is proposing to eliminate.
The new compliance dates are Nov. 17, 2027, for fund groups with net assets of $10 billion or more, and May 18, 2028, for fund groups with less than $10 billion in net assets as of the end of their most recent fiscal year.
Public comment period
The proposing release will be published in the Federal Register, and the public comment period will remain open until 60 days after the date of Federal Register publication.
