Filing Change Screen (cross-sectional Lazy-Prices ranking — who rewrote most this year)
sections_filing_change_screenCross-sectional Lazy-Prices screen: 'which filers rewrote their Risk Factors (or MD&A / Legal / Business) most this year?' — ranks the universe of paired (year, compare_year) filings by total_change_magnitude using the same algorithm as sections__filing_change (heading set-diff → topic set-diff → semantic match with cosine 0.97 noise gate). Sister to sections__filing_change (which answers the per-filer 'what changed for ticker X' version).
Live panels (more are added over time):
10-K Item 1A 2026 vs 2025 — 4,233 paired filers (Risk Factors, the marquee; mean mag 0.172).
10-K Item 7 (MD&A) 2026 vs 2025 — 4,967 paired filers (more stable YoY than 1A; mean mag 0.089).
10-Q Item 2 (quarterly MD&A) 2026 vs 2025 — 5,100 paired filers (mean mag 0.10). Cross-filer rankings mix fiscal quarters by design — each filer's diff is fiscal-quarter-aligned to its own prior year (NVDA Q1 FY27 pairs with NVDA Q1 FY26, not with NVDA's calendar-Q1 2025 filing). Top-N answers 'who rewrote their quarterly MD&A most YoY,' not 'who reported on the same calendar quarter.'
10-K Item 3 (Legal Proceedings) 2026 vs 2025 — 4,317 paired filers (section-level grain, not sub-section). Mean mag is tiny (0.0018) because most filers carry stable boilerplate ('see Note X to Financial Statements'). The interesting cohort is the ~32 filers with mag ≥ 0.05 (the legal-disclosure tail — pharma Hatch-Waxman litigation, cannabis MSOs, CRE distress, environmental, etc.). min_change_magnitude=0.05 isolates the live legal stories. Per-filer depth via sections__filing_change(cik, item='3', form='10-K') returns the actual added/modified text. NB: heading / topic set-diff arrays are empty for section-level grain — that's by design, not a data gap.
Panel build pattern is offline; when a panel hasn't been built for the requested (form, item, year, compare_year), returns flag="panel_not_built" with empty rankings.
Filters:
min_change_magnitude — drop changes below floor.
sic_filter — exact SIC codes (array of strings).
sic_prefix — SIC prefix (e.g. "60" banks, "28" pharma).
cik_universe — rank a watchlist (array of CIK integers).
sort — magnitude_desc (default) / magnitude_asc / n_added_desc.
Magnitude distribution (10-K Item 1A 2026): 16% truly unchanged (<0.001), 28% light revision, 30% moderate, 15% substantial, 5% major, 5% saturated (50K+ chars rewritten = Lazy-Prices tail). Within the saturated cohort the secondary sort by raw_total_magnitude surfaces the actual biggest rewriters (electroCore 377K, Semnur Pharma 341K, FibroBiologics 319K — clinical-trial-restructuring biotechs, post-transformation issuers, distressed REITs).
Tool call template
This tool declares no required parameters. Add optional parameters from the input schema as needed.
{
"id": 1,
"jsonrpc": "2.0",
"method": "tools/call",
"params": {
"arguments": {},
"name": "sections_filing_change_screen"
}
}Input Schema
| Name | Required | Description | Default |
|---|---|---|---|
| form | No | Filing form. 10-K is the default and most-built; 10-Q / S-1 / 20-F panels build on request. | 10-K |
| item | No | Item code. 10-K / 10-Q: '1A' Risk Factors (default, marquee), '7' MD&A (long-form, rich signal), '3' Legal Proceedings (section-level grain). 20-F: item codes differ (Item 3 there ≠ Legal Proceedings). | 1A |
| sort | No | Sort order. magnitude_desc is default ('most rewritten'). magnitude_asc surfaces the 'no-change' tail. n_added_desc focuses on filers that ADDED the most new content. | magnitude_desc |
| year | No | Calendar year of the CURRENT filing. Default: latest available (typically 2026). | |
| top_n | No | Max rankings to return. Default 20. | |
| sic_filter | No | Filter to a list of exact SIC codes (strings — SIC is KEYWORD-indexed). | |
| sic_prefix | No | SIC prefix filter (e.g. '60' for banks, '28' for pharma/chem). Combine with sic_filter for narrower industries. | |
| cik_universe | No | Restrict the ranking to a specific list of CIKs — 'rank my watchlist'. Useful to compare a peer set or own portfolio. | |
| compare_year | No | Calendar year of the BASELINE filing. Default: year - 1. | |
| min_change_magnitude | No | Drop filers with total_change_magnitude below this floor. Useful for skipping the long unchanged tail. |