Methodology: Where Bourse Data Comes From

Exactly where Bourse gets Congress trades, Form 4 insider filings, 13F holdings, market data and news; how insider buys, sells and clusters are defined; and what the data cannot tell you.

This page explains where each kind of data on Bourse comes from, how it is processed, and where the limits are. If something here is unclear or you find a mistake, write to bourse.official@gmail.com.

Congress trades

• Source: disclosures filed under the STOCK Act. Bourse retrieves them through a public data API that republishes the House and Senate Periodic Transaction Reports, and keeps the link to the original filing where one is provided.
• What is stored: member, chamber and party, ticker and asset, transaction type, amount range, transaction date, disclosure date and, where available, an estimated price and the stock's performance since the trade.
• Refresh: members are synchronised in rotation throughout the day, so a new filing appears after it is published and picked up, not at the moment of the trade.
• Limits: members may report up to 45 days after a trade. Amounts are ranges, not exact values. Some trades are made by spouses or dependants. See how to read a periodic transaction report.

Insider filings (SEC Form 4)

• Source: SEC Form 4 filings from EDGAR, retrieved through a Form 4 data API.
• What is shown as a buy or a sell: only transactions with code P (open-market or private purchase) are shown as buys and code S (open-market or private sale) as sells. Awards, option exercises, tax withholding, gifts and other codes are not treated as investment decisions. See how to read a Form 4.
• Insider buying cluster: three or more different insiders buying (code P) the same company within 14 days. One person buying several times counts once.
• Returns after a filing: where the data source provides it, Bourse shows the stock's return over the period after the transaction (for example one month). It is informational and says nothing about the future.
• Limits: filings are due two business days after the trade, so some price movement has already happened. Trades under a Rule 10b5-1 plan were scheduled earlier and carry less information about current sentiment. History depth is limited to the period Bourse has collected.

Fund holdings (Form 13F)

• Source: Form 13F-HR filings, read directly from SEC EDGAR.
• Coverage: a fixed list of well-known managers, currently eight (such as Berkshire Hathaway, Bridgewater, Citadel Advisors, Renaissance Technologies, Scion, Pershing Square and ARK Invest), not every filer.
• Values: position values are shown in US dollars as reported by the SEC.
• Limits: 13F covers long positions only, as of quarter-end, filed up to 45 days later. It does not show short positions, most bonds, cash or non-US holdings. See what Form 13F shows.

Markets and news

• Prices: index ETFs, stocks, commodities and cryptocurrencies from market data providers, and currency rates from a public exchange-rate service. Some data may be delayed.
• News: headlines from public RSS feeds of central banks (such as the Federal Reserve, ECB, Bank of England, Bank of Japan and Swiss National Bank), regulators including the SEC, and financial news outlets. Bourse links to the original source.
• ESPI reports: Polish exchange current reports collected from a public feed, with AI-generated summaries for Premium users.

AI-generated content

The daily brief and ESPI summaries are written with the help of a large language model from public headlines and market data. They are editorial and informational, can contain errors and are not investment advice. Filings and numbers shown in tables come directly from the sources above and are not generated by AI.

Data pages on this site

The pages under Stocks, Congress and Funds are generated from the same data and show the date of the last update. They list public filings only. A filing, including a purchase or sale by a politician or insider, does not by itself imply any wrongdoing.

Corrections

We correct errors promptly. Write to bourse.official@gmail.com with the page, the item and, if possible, a link to the original filing.

Bourse provides financial data and editorial information, parts of which are generated by AI. This page is for general education only. It is not personalised investment advice or a recommendation to buy or sell any financial instrument. Make your own decisions.