Case studies: Hedgetell's engine run on public filings after the events, for illustration. Not investment advice.
Case studies
Hedgetell's engine, run on these public filings after the events. Ranks are out of all meaningful changes in each filing.
If we are not successful in improving our liquidity position and the profitability of our operations, we may need to consider all strategic alternatives, … including obtaining relief under the U.S. Bankruptcy Code.
Out of 606 changes, the one Hedgetell ranked first named the U.S. Bankruptcy Code. The filing came 90 days later.
… increases in interest rates have resulted, and may continue to result in, decreases in the fair value of our AFS fixed income investment portfolio … while unrealized losses to our HTM fixed income investment portfolio may, among other effects, make an acquisition of the Company more costly or less likely.
A new risk factor tied rising rates to losses in the bank's bond portfolio. Two weeks later the bank failed.
Substantially allA significant majority of the Company's manufacturing is performed in whole or in part by outsourcing partners … Beginning in the second quarter of 2025, new tariffs were announced on imports to the U.S. …
This year's top change at Apple: new tariff risk, and less of its manufacturing described as outsourced.
Shown for illustration: a changed filing doesn't mean any company will fail. Not investment advice.
The problem
Companies rarely announce bad news in a headline. They soften a sentence, add a risk factor or quietly delete a paragraph. "Substantially all" becomes "a significant majority". A new lawsuit appears in Legal Proceedings.
Finding those edits by hand means reading two long documents side by side, every quarter, for every company you cover. Hedgetell does the comparison for you and puts the changes that matter first.
We split both filings into their Items, match each paragraph to last year's version and ignore noise such as new dates and updated numbers.
Each change is scored by where it sits (risk factors and legal proceedings count most), how much changed and the risk words it contains, then marked High, Medium or Low.
A three-point summary and a plain-English headline for each top change, with every point linked to its evidence and every change linked to the source paragraph.
Why it matters
In "Lazy Prices", Cohen, Malloy and Nguyen studied 10-K and 10-Q filings from 1995 to 2014. Changes to a company's reports predicted its future earnings, profitability, news and even bankruptcies, and the market did not react on the day of filing. Changes to risk factors, litigation and the executive team were especially informative.
One shared workspace for your organization, with the roles and controls a security review asks for.
See what changed in a 10-K in minutes on filing day, before you open the full document.
Catch new covenant, liquidity and going-concern language across the companies you lend to.
Give the whole team the same ranked view of every filing, with a three-point summary to triage fast.
Track how peers reword their disclosures, with a link to the source for every change.
Security
Your coverage and notes stay inside your organization. Every sign-in is protected by a second factor.
We're opening Hedgetell to a small group of research, credit and IR teams as design partners. You use it free during the pilot; in return, a short call each week shapes what we build.