# SEC Subsidiaries & Major Customers Scraper (EDGAR) (`battles_2026/sec-subsidiary-map-concentration-risk`) Actor

Subsidiary lists (Exhibit 21 / 20-F Exhibit 8) and 10%-customer/supplier concentration disclosures from SEC 10-K and 20-F filings, every row with a verbatim quote, document URL and accession number. Snapshot, year-over-year diff, and monitor modes. Deterministic parsing, no AI.

- **URL**: https://apify.com/battles_2026/sec-subsidiary-map-concentration-risk.md
- **Developed by:** [Jonathan D Battles](https://apify.com/battles_2026) (community)
- **Categories:** Business, Lead generation
- **Stats:** 2 total users, 1 monthly users, 100.0% runs succeeded, 0 bookmarks
- **User rating**: No ratings yet

## Pricing

Pay per event

This Actor is paid per event. You are not charged for the Apify platform usage, but only a fixed price for specific events.

Learn more: https://docs.apify.com/actors/running/actors-in-store.md#pay-per-event

## What's an Apify Actor?

An Actor is a serverless cloud program that runs on the Apify platform. It has two run modes.
In Batch mode, an Actor accepts a well-defined JSON input, performs an action which can take anything from a few seconds to a few hours,
and optionally produces a well-defined JSON output, datasets with results, or files in key-value store.
In Standby mode, an Actor provides a web server which can be used as a website, API, or an MCP server.

Apify vocabulary and the platform model are defined once, in the agent quickstart at https://apify.com/agents.md.

## How to integrate an Actor?

If asked about integration, you help developers integrate Actors into their projects.
You adapt to their stack and deliver integrations that are safe, well-documented, and production-ready.

Do not guess an integration path. Every one of them is in the agent quickstart at https://apify.com/agents.md: the Apify MCP server, Agent Skills with the Apify CLI, the JavaScript and Python clients, the REST API, and the account-free path for an agent with no human to sign in. It also carries the rule on stating cost before the first paid run.

For examples already wired to this Actor's own input schema, see the [API](#api) section below.

Each client library has reference documentation the quickstart does not restate: [JavaScript/TypeScript](https://docs.apify.com/api/client/js/docs.md) (`npm install apify-client`) and [Python](https://docs.apify.com/api/client/python/docs.md) (`pip install apify-client`).

# README

## SEC Subsidiaries & Major Customers Scraper (EDGAR)

Turn U.S. public-company annual filings into a clean relationship graph: every **subsidiary** listed in Exhibit 21 (10-K) or Exhibit 8 (20-F), plus every **major customer and major supplier** disclosure (for example "Customer A accounted for 14% of revenue") with the exact quote, its position in the filing and a link to the source document.

By default it returns **subsidiaries only**. Major customer and supplier extraction is **experimental and opt-in**: add `MAJOR_CUSTOMER` and/or `MAJOR_SUPPLIER` to `relationshipTypes` to turn it on, and these links are incomplete: expect it to miss some customer and supplier disclosures (see Limitations).

Use it for supplier-risk screening, KYC/KYB ownership maps, credit and investment research, or to get an alert when a company adds or drops a subsidiary or a key customer.

### What data does it extract?

One dataset row per relationship:

| Field | Example |
|---|---|
| `relationshipType` | `SUBSIDIARY`, `MAJOR_CUSTOMER`, `MAJOR_SUPPLIER`, `NO_MAJOR_CUSTOMER`, `NO_MAJOR_SUPPLIER` |
| `sourceName` / `sourceTicker` / `sourceCik` | Cummins Inc. / CMI / 0000026172 |
| `counterpartyName` / `counterpartyLabel` | subsidiary or customer name as filed / `Customer A`, `two customers` |
| `jurisdiction`, `hierarchyParentName` | `United Kingdom`, parent entity when the exhibit is indented |
| `metric`, `value`, `fiscalYear`, `thresholdPct` | `PCT_REVENUE`, `14`, `2025` (also `PCT_RECEIVABLES`, `PCT_PURCHASES`, `PCT_SEGMENT_REVENUE`) |
| `quote`, `quoteCharOffset`, `section` | the sentence from the filing that supports the row |
| `filingForm`, `accessionNumber`, `filingDate`, `documentUrl`, `filingIndexUrl` | links straight to SEC EDGAR |
| `extractionMethod`, `verification` | how the row was found and that its quote was checked against the filing text |
| `edgeId` | stable ID, so you can join runs |

Every concentration row carries a verbatim quote that is re-checked against the filing text before it is saved. Rows that fail the check are dropped, never guessed.

### How to use it

1. Click **Try for free** and enter one or more tickers or CIK numbers (the prefill runs `CMI`).
2. Pick a mode: `snapshot`, `diff` or `monitor`.
3. Click **Start**. A single company usually finishes in under a minute.
4. Download the results as JSON, CSV or Excel, or use the views **Overview**, **Subsidiaries**, **Concentration** and **Changes**.
5. For alerts, schedule a `monitor` run and connect a webhook, Slack or email integration.

### Modes

- **snapshot** (default): the latest annual filing (or the `fiscalYears` you choose).
- **diff**: latest vs. prior annual filing. Only change rows (`SUBSIDIARY_ADDED`, `SUBSIDIARY_REMOVED`, `JURISDICTION_CHANGED`, `CUSTOMER_ADDED`, `CUSTOMER_REMOVED`, `SUPPLIER_ADDED`, `SUPPLIER_REMOVED`, `CONCENTRATION_CHANGED`).
- **monitor**: changes since your previous run of the same `watchlistName`. The first run stores a free baseline. Schedule it to get alerts.

### Input

You only need `companies`. Leave `secUserAgent` empty to use the publisher's declared SEC contact, or enter your own.

```json
{
  "companies": ["CMI", "FFIV", "0001048695"],
  "secUserAgent": "Your Name your.email@example.com",
  "mode": "snapshot",
  "relationshipTypes": ["SUBSIDIARY"],
  "maxResults": 1000
}
```

- `secUserAgent` is **required**. SEC fair-access rules ask every client to identify itself with a name and contact email. Enter your own. The actor sends it to sec.gov only.
- `companies`: tickers or CIK numbers, up to 500 per run.
- Optional settings: `includeAnonymisedCounterparties`, `includeNegativeStatements`, `materialPctPoints`, `watchlistName`, `maxResults` and `maxTotalChargeUsd`.

The run's `OUTPUT` record in the key-value store gives a status for each company (`OK`, `NO_EX21_FOUND`, `BY_REFERENCE`, `NO_DISCLOSURE_FOUND`, `FETCH_FAILED`, `PARSE_FAILED`, `NO_ANNUAL_FILING`, `UNKNOWN_COMPANY`, `SKIPPED_BUDGET`, `ERROR`, `SEC_BLOCKED`), so a missing exhibit is never silently confused with "no subsidiaries".

A problem with one company never ends the run: it is recorded in `OUTPUT` and the actor moves on. Rows are saved company by company, so if the run stops early (your spending cap, `maxResults`, the run's time limit, or SEC refusing requests) you keep everything delivered so far, and `OUTPUT` says why it stopped (`stoppedByBudget`, `stoppedByMaxResults`, `stoppedByTimeLimit`, `stoppedBySecBlock`).

### How much does it cost?

Pay per event: you are charged only for results, never for compute.

- company graph (one company processed, with at least one row): $0.02
- customer or supplier relationship row that names the counterparty or gives an exact percentage: $0.003
- change row (diff / monitor): $0.03
- Free: subsidiary rows within a company graph, "no major customer/supplier" rows, rows that only say "N customers each exceeded 10%" (no name, no exact figure), and the monitor baseline.

### Output example

```json
{
  "sourceCik": "0000026172",
  "sourceName": "CUMMINS INC",
  "sourceTicker": "CMI",
  "filingForm": "10-K",
  "accessionNumber": "0000026172-26-000009",
  "filingDate": "2026-02-10",
  "periodOfReport": "2025-12-31",
  "filingIndexUrl": "https://www.sec.gov/Archives/edgar/data/26172/000002617226000009/0000026172-26-000009-index.htm",
  "retrievedAt": "2026-10-12T03:52:06+00:00",
  "attribution": "Source: U.S. SEC EDGAR filings (public information)",
  "edgeId": "32f9415b9fc7f398b191",
  "relationshipType": "MAJOR_CUSTOMER",
  "counterpartyName": null,
  "counterpartyLabel": "largest customer",
  "counterpartyNamed": false,
  "counterpartyNameNormalised": null,
  "jurisdiction": null,
  "doingBusinessAs": [],
  "hierarchyParentName": null,
  "notes": null,
  "metric": "PCT_REVENUE",
  "value": 13,
  "fiscalYear": 2025,
  "aggregateOnly": true,
  "thresholdPct": null,
  "noOtherAbove10Pct": false,
  "documentUrl": "https://www.sec.gov/Archives/edgar/data/26172/000002617226000009/cmi-20251231.htm",
  "section": "ITEM 1. Business",
  "quote": "PACCAR is our largest customer, accounting for 13 percent of our consolidated net sales in 2025, 16 percent in 2024 and 16 percent in 2023.",
  "quoteCharOffset": 41531,
  "extractionMethod": "DETERMINISTIC_TEXT",
  "confidence": 1,
  "verification": "QUOTE_VERIFIED"
}
```

(Illustrative values; real rows always link the exact filing.)

### Limitations

- Data comes only from 10-K and 20-F filings and their Exhibit 21 / Exhibit 8. No 10-Q, 8-K or proxy data.
- Exhibit 21 may legally omit subsidiaries that are not "significant", so the list can be incomplete.
- Extraction is rule-based and deterministic (no AI guessing). Unusual layouts may yield a status such as `NO_DISCLOSURE_FOUND` instead of rows.
- Companies often anonymise customers ("Customer A"). The actor keeps the label as filed and does not try to identify them.
- A customer name is filled in only when the filing states it next to the figure ("PACCAR is our largest customer, accounting for 13 percent...", "sales to The Home Depot were 11%...", or a named-customer table). On a test set of 9 recent 10-Ks the actor never put a wrong name on a figure, and it found 29 of the 43 named figures. It still misses some phrasings, such as "39% of net sales were to Airbus" or names that read like a person's (for example "Lockheed Martin" in a bare table). Those figures are kept with an anonymous label instead.
- A combined figure such as "sales to The Home Depot and Lowe's were 28% of the segment" is never split or attributed to one company.
- No LEI, ownership percentages or corporate-registry enrichment.
- Requests to sec.gov are kept under 10 per second, as SEC's fair-access policy requires.

Source: U.S. SEC EDGAR filings (public information). This actor is not affiliated with or endorsed by the SEC. It is not investment advice.

### Related actors

- UK Late-Payer & AP-Prospect Signals (`Battles_2026/uk-late-payer-signals`): payment-practice and late-payment data for UK companies.

### FAQ

**Is it legal to use this data?** Yes. SEC EDGAR filings are public records published by the U.S. government for free. The actor follows SEC's fair-access policy: it declares a User-Agent with a contact email on every request and stays under 10 requests per second. It reads only public filings and logs in nowhere. You are responsible for how you use the data; consult a lawyer if unsure.

**Why are some subsidiaries missing?** Exhibit 21 may legally omit subsidiaries that are not "significant". The per-company status in `OUTPUT` tells you what was found.

**Do I pay for compute?** No. You pay only the per-event prices above. Subsidiary rows and the monitor baseline are free. Set `maxTotalChargeUsd` to cap spend.

**Can it name anonymised customers?** No. It keeps "Customer A" exactly as filed and never guesses.

**Can I get alerts?** Yes: schedule `monitor` mode and connect an integration.

# Actor input Schema

## `companies` (type: `array`):

US tickers (e.g. CMI) or SEC CIK numbers (e.g. 0000026172). Max 500 per run. Prefill runs a single company so the first run finishes in seconds.

## `secUserAgent` (type: `string`):

Optional. SEC fair-access rules ask every client to identify itself with a name and contact email, e.g. 'Jane Analyst jane@example.com'. Leave empty to use the publisher's declared contact. Sent only to sec.gov.

## `mode` (type: `string`):

snapshot = latest annual filing; diff = latest vs prior annual filing (change rows only); monitor = only changes since your last run for this watchlist (first run is a free baseline).

## `relationshipTypes` (type: `array`):

Default: SUBSIDIARY only. MAJOR_CUSTOMER and MAJOR_SUPPLIER are experimental and opt-in: they can miss disclosures, and their rows are charged ($0.003 each).

## `fiscalYears` (type: `array`):

Optional list of report years (e.g. 2024) to process instead of the latest filing.

## `includeAnonymisedCounterparties` (type: `boolean`):

Keep rows such as 'Customer A' or 'two customers'.

## `includeNegativeStatements` (type: `boolean`):

Emit NO_MAJOR_CUSTOMER / NO_MAJOR_SUPPLIER rows when the filing says no counterparty exceeded 10%. These rows are free.

## `materialPctPoints` (type: `number`):

diff/monitor: minimum change in a concentration percentage to report.

## `watchlistName` (type: `string`):

Monitor state is stored per watchlist name in a named key-value store in your account.

## `maxResults` (type: `integer`):

Stop after this many dataset rows.

## `maxTotalChargeUsd` (type: `number`):

Optional extra spending cap; the platform's per-run maximum charge also applies.

## Actor input object example

```json
{
  "companies": [
    "CMI"
  ],
  "mode": "snapshot",
  "relationshipTypes": [
    "SUBSIDIARY"
  ],
  "includeAnonymisedCounterparties": true,
  "includeNegativeStatements": true,
  "materialPctPoints": 2,
  "watchlistName": "default",
  "maxResults": 25
}
```

# Actor output Schema

## `results` (type: `string`):

All dataset rows. Views: overview, subsidiaries, concentration, changes.

## `summary` (type: `string`):

Per-company status (exhibit found, parse status, errors), events charged, SEC request totals.

# API

You can run this Actor programmatically using our API. Below are code examples in JavaScript, Python, and CLI, as well as the OpenAPI specification and MCP server setup.

## JavaScript example

```javascript
import { ApifyClient } from 'apify-client';

// Initialize the ApifyClient with your Apify API token
// Replace the '<YOUR_API_TOKEN>' with your token
const client = new ApifyClient({
    token: '<YOUR_API_TOKEN>',
});

// Prepare Actor input
const input = {
    "companies": [
        "CMI"
    ],
    "relationshipTypes": [
        "SUBSIDIARY"
    ],
    "maxResults": 25
};

// Run the Actor and wait for it to finish
const run = await client.actor("battles_2026/sec-subsidiary-map-concentration-risk").call(input);

// Fetch and print Actor results from the run's dataset (if any)
console.log('Results from dataset');
console.log(`💾 Check your data here: https://console.apify.com/storage/datasets/${run.defaultDatasetId}`);
const { items } = await client.dataset(run.defaultDatasetId).listItems();
items.forEach((item) => {
    console.dir(item);
});

// 📚 Want to learn more 📖? Go to → https://docs.apify.com/api/client/js/docs

```

## Python example

```python
from apify_client import ApifyClient

# Initialize the ApifyClient with your Apify API token
# Replace '<YOUR_API_TOKEN>' with your token.
client = ApifyClient("<YOUR_API_TOKEN>")

# Prepare the Actor input
run_input = {
    "companies": ["CMI"],
    "relationshipTypes": ["SUBSIDIARY"],
    "maxResults": 25,
}

# Run the Actor and wait for it to finish
run = client.actor("battles_2026/sec-subsidiary-map-concentration-risk").call(run_input=run_input)

# Fetch and print Actor results from the run's dataset (if there are any)
print(f"💾 Check your data here: https://console.apify.com/storage/datasets/{run.default_dataset_id}")
for item in client.dataset(run.default_dataset_id).iterate_items():
    print(item)

# 📚 Want to learn more 📖? Go to → https://docs.apify.com/api/client/python/docs/quick-start

```

## CLI example

```bash
echo '{
  "companies": [
    "CMI"
  ],
  "relationshipTypes": [
    "SUBSIDIARY"
  ],
  "maxResults": 25
}' |
apify call battles_2026/sec-subsidiary-map-concentration-risk --silent --output-dataset

```

## MCP server setup

```json
{
    "mcpServers": {
        "apify": {
            "type": "http",
            "url": "https://mcp.apify.com/?tools=fetch-actor-details,battles_2026/sec-subsidiary-map-concentration-risk"
        }
    }
}
```

The hosted server signs you in with OAuth on first connect, so no API token belongs in this config. Clients without OAuth support can send an `Authorization: Bearer <APIFY_API_TOKEN>` header instead, using a token from API & Integrations in Apify Console (https://console.apify.com/settings/integrations).

## OpenAPI specification

Download the OpenAPI definition: https://api.apify.com/v2/actors/icMVcx8ZQDrTcweFu/builds/kR6j1AzxcBpEBjpNw/openapi.json