SEC Filing Summary: Principal Financial Group Inc (Form 13F)
Business Context and Reporting Period
Company: Principal Financial Group Inc
Filing Type: Form 13F Information Table
Reporting Period: Quarter ended December 31, 2017
Context: This filing discloses the equity securities held by Principal Financial Group Inc as of the end of the reporting period. It details the issuer, class of security, CUSIP, value (in thousands), and number of shares held. The filing indicates voting authority (Sole, Shared, or None) and investment discretion (Discretionary or Non-Discretionary).
Key Financial Metrics and Portfolio Composition
Revenue, Profit, Cash Flow, Margins, Debt, Liquidity: The filing text does not provide a clear value for these metrics. Form 13F reports portfolio holdings, not the operating financial results of the reporting manager.
Portfolio Highlights (Top Holdings by Value):
- Microsoft Corp: 15,681,705 shares (Value: $1,341,414,000)
- Apple Inc: 9,826,899 shares (Value: $1,663,005,000)
- Amazon.com Inc: 827,440 shares (Value: $967,665,000)
- Alphabet Inc (Class A & C): Combined ~1.2M shares (Value: ~$1.2B)
- Facebook Inc: 4,268,799 shares (Value: $753,273,000)
- Principal Exchange Traded Funds: Significant holdings in proprietary ETFs, including "PRINCIPAL ACTIVE" (22.4M shares) and "US MEGA CAP" (30.3M shares).
Material Changes vs. Prior Period
The filing text does not provide a clear value for material changes versus the prior comparable period. This specific document is a snapshot of holdings at a single point in time and does not include comparative data from the previous quarter.
Guidance, Outlook, and Risks
Guidance and Outlook: The filing text does not provide a clear value for management commentary, guidance, or outlook. Form 13F is a regulatory disclosure of holdings and does not contain forward-looking statements.
Risks and Contingencies: The filing text does not provide a clear value for specific risks or contingencies. However, the portfolio is heavily diversified across sectors including Technology, Financials, Healthcare, and Real Estate. A significant portion of the portfolio is held in "Discretionary" accounts, indicating active management decisions.
Important Facts for Investor Verification
- Proprietary ETF Exposure: Principal Financial Group holds massive positions in its own Exchange Traded Funds (e.g., Principal Active, US Mega Cap), totaling over 50 million shares across various tickers. Investors should verify the underlying assets of these funds to understand true exposure.
- Concentration in Tech: The portfolio shows significant concentration in large-cap technology stocks (Microsoft, Apple, Amazon, Alphabet, Facebook), which may increase volatility relative to a broader market index.
- Voting Authority: The vast majority of holdings are listed with "Shared" voting authority (Column 7), suggesting these assets are managed on behalf of clients where voting rights are shared with the client or another party, rather than held solely by Principal.
- Valuation Basis: All values are reported in thousands (Column 4). For example, a value of "1,341,414" represents $1,341,414,000.