The SEC’s proposed amendments to Form N-PORT, published on 18 February 2026, would give funds 45 days rather than 30 to file monthly reports, return public holdings disclosure to a quarterly cycle and remove several data items, including those added for the Names Rule. That would roll back much of what the SEC adopted in 2024, and although it’s a proposal and the 2024 rules are still on the books, for anyone building the data pipeline for monthly N-PORT reporting it changes the plan.
Where does Form N-PORT stand today?
Form N-PORT is the monthly portfolio holdings report filed by registered funds other than money market funds. Under the rules funds follow now, monthly data is filed for each quarter within 60 days of quarter end, and only the third month of each quarter is made public.
In August 2024 the SEC adopted amendments requiring each monthly report to be filed within 30 days of month end, with every month made public 60 days after month end. In April 2025 it delayed those changes to 17 November 2027 for fund groups with $1 billion or more in net assets and to 18 May 2028 for smaller groups, to allow a review under a Presidential Memorandum. The related Form N-CEN changes kept their 17 November 2025 date.
Separately, the 2023 Names Rule amendments added N-PORT items on funds’ 80% investment policies.
What is the SEC now proposing for N-PORT?
The SEC’s fact sheet sets out four main changes:
- More time to file: monthly reports would be due up to 45 days after month end, 15 days more than the 2024 rule allows. The SEC says this is to ease the burden of the 30-day deadline and to reduce errors and resubmissions.
- A return to quarterly publication: only the third month of each fiscal quarter would be published, with a 60-day delay, restoring the quarterly frequency the SEC says had been in place for over two decades. The SEC points to the risk that frequent public disclosure lets others use holdings information in ways that raise costs for funds and shareholders.
- Fewer data items: the proposal would narrow portfolio-level risk metrics and return information, and remove items on compliance with names-related requirements, payoff profiles of non-derivative instruments, convertible bonds, and the reason a single holding has more than one liquidity classification.
- New ETF share class data: funds with share classes that operate as exchange-traded funds (ETFs) would report net assets and shareholder flows separately for those classes, together with extra identifiers such as ticker symbols.
What happens to the Names Rule items on N-PORT?
On the same day, the SEC extended the compliance dates for the Names Rule items on N-PORT to 17 November 2027 for fund groups with $10 billion or more in net assets and to 18 May 2028 for smaller groups. The aim is to allow time to consider the proposal, which would remove those items, and to avoid costs for requirements it may eliminate.
That only affects the reporting piece, because the Names Rule itself is unchanged and its compliance dates of 11 June 2026 for larger fund groups and 11 December 2026 for smaller ones still stand. Prospectus and policy work for the Names Rule therefore doesn’t need to slow down because of this proposal.
What it means in practice
It makes sense to plan for two possible end states. If the proposal is adopted, you’ll be filing monthly within 45 days with quarterly publication, and if it isn’t, the 2024 rule arrives in November 2027 with a 30-day deadline and monthly publication. The data needs are similar in both cases, but the timing and control windows aren’t.
Monthly data still has to exist either way, because even with quarterly publication the SEC would still receive monthly reports, so holdings, liquidity classifications and risk metrics have to be produced, checked and filed every month.
Public holdings would stay quarterly, which matters for anyone thinking about what gets published on fund websites and in holdings files alongside regulatory filings, and about how consistent the two are.
Share class structures will also need clean data. If you run or plan an ETF share class, flows and net assets by class would become a regulatory data item rather than only an internal number.
When would the N-PORT changes apply?
- 28 August 2024: the SEC adopts the monthly N-PORT filing and publication amendments
- 16 April 2025: the SEC delays the N-PORT amendments to 17 November 2027 and 18 May 2028
- 17 November 2025: the Form N-CEN amendments take effect
- 18 February 2026: the SEC proposes N-PORT amendments and extends the Names Rule N-PORT dates
- 60 days after Federal Register publication: the comment period closes
- 11 June 2026: Names Rule compliance date for fund groups of $1 billion or more
- 17 November 2027 and 18 May 2028: the current compliance dates for the 2024 amendments and the Names Rule N-PORT items
What to do now
- Comment if the changes matter to you, since the 45-day deadline, the dropped items and the ETF class data are all open for views for 60 days after Federal Register publication.
- Keep your build flexible, designing N-PORT processes so that the deadline and publication cadence are settings rather than hard-coded assumptions.
- Carry on with your Names Rule work, because although the reporting items may go, the rule and its June 2026 date remain.
The direction of travel is towards fewer fields, more time and less public disclosure, even if the detail isn’t final, while the need for reliable monthly holdings data that you can stand behind stays the same.
At Kurtosys we see regulatory filings and investor communication drawing on the same holdings data. When that data is governed in one place, the numbers in a filing, a factsheet, a client report and a fund website agree, and a change in reporting rules is a configuration change rather than a rebuild. If you’re reworking your N-PORT plans, get in touch.
Sources: SEC press release 2026-19: SEC proposes amendments to reduce burdens in reporting of fund portfolio holdings, SEC Release IC-35962, proposed rule, SEC fact sheet, SEC Release IC-35538, delay of effective and compliance dates, SEC press release 2024-110, SEC press release 2025-54, as at 1 March 2026.
About this article
This article reflects the position at 1 March 2026 and was checked against the primary sources available at that time. Thomas Bjerkén, our regulatory reporting and fund data specialist, joined Kurtosys after it was published and now looks after our regulatory content. Some details may have changed since it was published.
