(a) A private investment fund and any of its affiliates and subsidiaries that acquire beneficial ownership or record ownership of any indirect interest in any economic security in a private investment company which is registered with the Arkansas Racing Commission shall report quarterly to the commission, in writing:

1. (1) The sale, assignment, transfer, pledge, or other disposition of any interest in the private investment fund, affiliate, or subsidiary; and
2. (2) The addition of any new members, partners, shareholders, trustees, or beneficiaries in the private investment fund, affiliate, or subsidiary, excluding persons that are holders of publicly traded securities issued by those entities.