Northwest Bancshares, Inc. - Form 13F Information Table Summary
Business Context and Reporting Period
This filing is a Form 13F Information Table submitted by Northwest Bancshares, Inc. for the reporting period ending June 30, 2024. As a Form 13F, this document discloses the equity securities held by the company (acting as an institutional investment manager) at the end of the quarter. It does not contain the company's own financial performance metrics (revenue, profit, etc.) but rather its investment portfolio composition.
Key Financial Metrics and Portfolio Composition
The filing details a diversified portfolio of common stocks and exchange-traded funds (ETFs). Key portfolio characteristics include:
- Top Holdings by Value: The largest single position by reported value is Schwab Strategic Trust Fundamental US L (approx. $140.4 million), followed by Apple Inc. (approx. $16.1 million) and Microsoft Corp. (approx. $18.4 million).
- Self-Holding: Northwest Bancshares holds 292,082 shares of its own common stock (Northwest Bancshares Inc MD COM), valued at approximately $3.37 million.
- Asset Classes: The portfolio includes significant allocations to large-cap technology (Apple, Microsoft, Alphabet, NVIDIA), financials (JPMorgan Chase, Bank of Montreal), and energy (Exxon Mobil, Chevron).
- ETF Exposure: Substantial holdings in broad market ETFs, including iShares Core S&P 500 ETF, Vanguard Short-Term Corporate Bond ETF, and various sector-specific SPDRs.
Material Changes and Voting Authority
The filing distinguishes between voting authority held Solely, Shared, or None. For the majority of positions, Northwest Bancshares reports Sole voting authority. Notable instances of Shared voting authority include:
- Northwest Bancshares Inc: 249,242 shares (Sole) and 42,840 shares (Shared).
- Apple Inc.: 76,421 shares (Sole) and 70 shares (Shared).
- Alphabet Inc. (Class C): 17,818 shares (Sole) and 60 shares (Shared).
- Applied Materials Inc.: 37,675 shares (Sole) and 163 shares (Shared).
Note: This filing is a snapshot of holdings at period-end. It does not provide transaction data (buys/sells) or percentage changes compared to the prior quarter (March 31, 2024).
Guidance, Outlook, and Risks
Guidance and Outlook: The filing text does not provide management commentary, financial guidance, or future outlook for Northwest Bancshares, Inc. or its portfolio.
Risks and Contingencies: The document contains a standard SEC disclaimer stating that the Commission has not reviewed the information for accuracy or completeness. No specific risk factors or contingencies regarding the portfolio are detailed in this text.
Important Facts for Investor Verification
- Portfolio Concentration: Verify the total market value of the portfolio to understand the scale of the company's investment activities relative to its balance sheet.
- Self-Holding Strategy: Confirm the intent behind holding 292,082 shares of its own stock (approx. $3.4M value) and the split between sole and shared voting authority.
- ETF vs. Stock Allocation: Assess the proportion of the portfolio held in passive ETFs (e.g., Schwab, Vanguard, iShares) versus active individual stock picks.
- Missing Data: Note that this filing does not disclose the company's operating revenue, net income, or liquidity position; those figures must be sought in the company's Form 10-Q or 10-K filings.