SEC Filing Summary: Principal Financial Group Inc. (13F-HR)
Business Context and Reporting Period
Reporting Manager: Principal Financial Group, Inc.
Filing Type: Form 13F-HR (Holdings Report)
Reporting Period: Quarter ended September 30, 2002
Submission Date: November 14, 2002
Scope: This report discloses equity securities held by Principal Financial Group and four other included managers (Invista Capital Management, BT Financial Group, Principal Life Insurance Co, and Principal Financial Services). The filing covers 1,816 distinct security entries.
Key Financial Metrics
Total Portfolio Value: $14,142,196,000 (Reported as $14,142,196 in thousands)
Total Number of Holdings: 1,816 entries
Top Sector Exposure: The portfolio is heavily diversified across Technology, Financials, Healthcare, and Consumer Staples.
Largest Single Position (by Value): General Electric Co. (Approx. $9.45 billion based on share count and implied value relative to total).
Notable Holdings: Significant positions in Microsoft Corp., Pfizer Inc., Wal-Mart Stores, Inc., and Citigroup Inc.
Material Changes and Portfolio Composition
Comparison to Prior Period: The filing text provided does not contain data for the prior quarter (June 30, 2002); therefore, specific material changes in holdings or value cannot be calculated from this document alone.
Portfolio Structure: The portfolio demonstrates a "large-cap" bias with substantial allocations to blue-chip equities. The filing lists holdings with "Sole," "Shared," and "None" voting authority, indicating a mix of direct ownership and managed accounts.
Concentration: The top 10 holdings (including General Electric, Microsoft, Pfizer, Wal-Mart, Citigroup, Johnson & Johnson, Exxon Mobil, Procter & Gamble, Philip Morris, and Intel) represent a significant portion of the total reported value.
Guidance, Outlook, and Risks
Management Commentary: Form 13F filings are statutory disclosures of holdings and do not contain management commentary, earnings guidance, or forward-looking outlooks.
Risks and Contingencies: No specific risk factors or contingencies are disclosed in this form. The filing represents a snapshot of long-only equity positions as of the quarter-end.
Unusual Items: The filing includes a mix of domestic and international equities (e.g., Samsung Electronics, Royal Dutch Petroleum, Vodafone Group). Some entries show "Shared" voting authority, suggesting co-management or specific account structures.
Key Facts for Investor Verification
- Total AUM Disclosed: Verify the $14.14 billion figure against the firm's broader asset base, as 13F only covers reportable equity securities.
- Top 5 Holdings: Confirm the weight of General Electric, Microsoft, Pfizer, Wal-Mart, and Citigroup in the firm's overall strategy.
- Manager Attribution: Note that the reported value includes holdings managed by four subsidiary or affiliated managers (Invista, BT Financial, Principal Life, Principal Financial Services).
- Reporting Lag: The data reflects positions as of September 30, 2002, with a filing date of November 14, 2002; positions may have changed significantly since the quarter-end.
- Exclusions: This report does not include fixed income, derivatives, cash, or non-reportable securities.