SEC 13F-HR: '&' silently dropped from issuer names (S&P500 -> SP500)

openbb_platform/providers/sec/openbb_sec/utils/parse_13f.py

@@ -69,6 +69,26 @@ async def get_complete_submission(url: str):
     )
 
 
+def prepare_13f_xml(filing: str) -> str:
+    """Return parseable XML for a Complete Submission TXT string.
+
+    The Complete Submission TXT file is SGML-wrapped and not well-formed XML, so
+    feeding it straight to an XML parser makes lxml fall back to recover mode,
+    which silently drops character entities like ``&``. When embedded
+    ``<XML>...</XML>`` blocks are present, reassemble those well-formed fragments
+    under a synthetic root (stripping only top-level XML declarations). When no
+    such blocks exist, return the original text unchanged.
+    """
+    # pylint: disable=import-outside-toplevel
+    import re
+
+    xml_blocks = re.findall(r"<XML>(.*?)</XML>", filing, re.DOTALL | re.IGNORECASE)
+    if not xml_blocks:
+        return filing
+    decl = re.compile(r"<\?xml[^>]*\?>")
+    return "<root>" + "".join(decl.sub("", b) for b in xml_blocks) + "</root>"
+
+
 def parse_header(filing_str: str) -> dict:
     """Parse the header of a Complete Submission TXT file string."""
     # pylint: disable=import-outside-toplevel
@@ -134,6 +154,8 @@ async def parse_13f_hr(filing: str):
     if filing.startswith("https://"):
         filing = await get_complete_submission(filing)  # type: ignore
 
+    filing = prepare_13f_xml(filing)
+
     soup = BeautifulSoup(filing, "xml")
 
     info_table = soup.find_all("informationTable")

openbb_platform/providers/sec/tests/test_parse_13f.py

@@ -0,0 +1,142 @@
+"""Test parsing of SEC Form 13F-HR Complete Submission TXT files."""
+
+import pytest
+from bs4 import BeautifulSoup
+from openbb_sec.utils.parse_13f import parse_13f_hr, prepare_13f_xml
+
+# A Complete Submission TXT file is SGML-wrapped and not well-formed XML, so
+# soup-ing it directly makes lxml fall back to recover mode, which silently
+# drops character entities such as '&'. This fixture reproduces that
+# envelope, including '&' in element text and in an attribute value.
+SGML_FILING = """<SEC-DOCUMENT>0001234567-26-000001.txt : 20260401
+<SEC-HEADER>0001234567-26-000001.hdr.sgml : 20260401
+<ACCESSION-NUMBER>0001234567-26-000001
+<TYPE>13F-HR
+</SEC-HEADER>
+<DOCUMENT>
+<TYPE>13F-HR
+<SEQUENCE>1
+<XML>
+<?xml version="1.0" encoding="UTF-8"?>
+<edgarSubmission>
+<headerData>
+<submissionType>13F-HR</submissionType>
+<filerInfo>
+<periodOfReport>03-31-2026</periodOfReport>
+</filerInfo>
+</headerData>
+</edgarSubmission>
+</XML>
+</DOCUMENT>
+<DOCUMENT>
+<TYPE>INFORMATION TABLE
+<SEQUENCE>2
+<XML>
+<?xml version="1.0" encoding="UTF-8"?>
+<informationTable xmlns="http://www.sec.gov/edgar/document/thirteenf/informationtable">
+<infoTable audit="S&amp;P holdings">
+<nameOfIssuer>S&amp;P500 EQL WGT</nameOfIssuer>
+<titleOfClass>COM</titleOfClass>
+<cusip>123456789</cusip>
+<value>1000</value>
+<shrsOrPrnAmt>
+<sshPrnamt>500</sshPrnamt>
+<sshPrnamtType>SH</sshPrnamtType>
+</shrsOrPrnAmt>
+<investmentDiscretion>SOLE</investmentDiscretion>
+<votingAuthority>
+<Sole>500</Sole>
+<Shared>0</Shared>
+<None>0</None>
+</votingAuthority>
+</infoTable>
+<infoTable>
+<nameOfIssuer>BABCOCK &amp; WILCOX ENTERPRISES</nameOfIssuer>
+<titleOfClass>COM</titleOfClass>
+<cusip>987654321</cusip>
+<value>2000</value>
+<shrsOrPrnAmt>
+<sshPrnamt>800</sshPrnamt>
+<sshPrnamtType>SH</sshPrnamtType>
+</shrsOrPrnAmt>
+<investmentDiscretion>SOLE</investmentDiscretion>
+<votingAuthority>
+<Sole>800</Sole>
+<Shared>0</Shared>
+<None>0</None>
+</votingAuthority>
+</infoTable>
+</informationTable>
+</XML>
+</DOCUMENT>
+</SEC-DOCUMENT>
+"""
+
+# Well-formed XML with no SGML <XML> wrappers — prepare_13f_xml must leave this
+# unchanged and parse_13f_hr must still succeed.
+PLAIN_XML_FILING = """<?xml version="1.0" encoding="UTF-8"?>
+<root>
+<headerData>
+<submissionType>13F-HR</submissionType>
+<filerInfo>
+<periodOfReport>03-31-2026</periodOfReport>
+</filerInfo>
+</headerData>
+<informationTable xmlns="http://www.sec.gov/edgar/document/thirteenf/informationtable">
+<infoTable>
+<nameOfIssuer>S&amp;P500 EQL WGT</nameOfIssuer>
+<titleOfClass>COM</titleOfClass>
+<cusip>123456789</cusip>
+<value>1000</value>
+<shrsOrPrnAmt>
+<sshPrnamt>500</sshPrnamt>
+<sshPrnamtType>SH</sshPrnamtType>
+</shrsOrPrnAmt>
+<investmentDiscretion>SOLE</investmentDiscretion>
+<votingAuthority>
+<Sole>500</Sole>
+<Shared>0</Shared>
+<None>0</None>
+</votingAuthority>
+</infoTable>
+</informationTable>
+</root>
+"""
+
+
+@pytest.mark.asyncio
+async def test_parse_13f_hr_preserves_ampersand_entities():
+    """Issuer/title names containing '&' must not be corrupted or dropped."""
+    result = await parse_13f_hr(SGML_FILING)
+    names = {r["nameOfIssuer"] for r in result}
+
+    assert "S&P500 EQL WGT" in names
+    assert "BABCOCK & WILCOX ENTERPRISES" in names
+    assert sum(r["weight"] for r in result) == pytest.approx(1.0)
+
+
+def test_prepare_13f_xml_preserves_ampersand_in_attribute_value():
+    """Attribute entities must survive block extraction (only decls are stripped)."""
+    prepared = prepare_13f_xml(SGML_FILING)
+    soup = BeautifulSoup(prepared, "xml")
+    info = soup.find("infoTable")
+
+    assert info is not None
+    assert info.get("audit") == "S&P holdings"
+    assert info.find("nameOfIssuer").get_text() == "S&P500 EQL WGT"
+
+
+def test_prepare_13f_xml_no_block_fallback_returns_original_unchanged():
+    """When there are no <XML> blocks, the original filing text is returned as-is."""
+    assert prepare_13f_xml(PLAIN_XML_FILING) is PLAIN_XML_FILING
+    assert prepare_13f_xml(PLAIN_XML_FILING) == PLAIN_XML_FILING
+
+
+@pytest.mark.asyncio
+async def test_parse_13f_hr_no_xml_blocks_still_parses():
+    """Fallback path (no <XML> wrappers) must still parse a well-formed filing."""
+    result = await parse_13f_hr(PLAIN_XML_FILING)
+    names = {r["nameOfIssuer"] for r in result}
+
+    assert "S&P500 EQL WGT" in names
+    assert sum(r["weight"] for r in result) == pytest.approx(1.0)