Do institutional investment managers need to report all of their holdings to the SEC or merely those over which they hold investment discretion in 13F filings?

At least the title of the relevant paragraph (§ 240.13f-1 Reporting by institutional investment managers of information with respect to accounts over which they exercise investment discretion) would imply that they only have to disclose the securities over which they exercise investment discretion.

The rule, as I'm interpreting it, does not explicitly state that only those holdings need to be reported over which it holds investment discretion.

I wonder because a bank might also disclose information on holdings over which it exercises no investment discretion (e.g., the shares in an investment account of a bank customer who decides her-/himself over the strategy).

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