SEC Filing Summary: Prudential Financial Inc. (13F-HR)
Business Context and Reporting Period
Reporting Manager: Prudential Financial, Inc.
Filing Type: Form 13F-HR (Quarterly Report of Holdings)
Reporting Period: Quarter ended June 30, 2012
Filing Date: August 8, 2012
Signatory: Richard Baker, Second Vice President
This filing discloses the equity securities held by Prudential Financial, Inc. and its included managers (Jennison Associates LLC, Mercator Asset Management LP, USAA, Prudential Investment Management, Inc., Quantitative Management Associates, and Prudential Trust Company) as of the end of the second quarter of 2012.
Key Financial Metrics
Total Portfolio Value: $33,458,305,000 (approx. $33.46 billion)
Total Number of Holdings: 2,978 distinct securities
Number of Included Managers: 3 (plus the primary filer and other listed managers)
Note: As a Form 13F, this document reports holdings of equity securities (stocks, ETFs, ADRs) and does not contain data on revenue, profit, cash flow, margins, debt, or liquidity for Prudential Financial itself.
Material Changes and Portfolio Composition
The filing provides a snapshot of holdings rather than a comparative analysis of changes from the prior period. However, the portfolio demonstrates significant diversification across sectors with heavy weighting in financials, technology, healthcare, and energy.
- Top Holdings by Value (Selected):
- General Electric Co: ~$25.59 billion (Sole/Shared voting authority)
- Microsoft Corp: ~$16.66 billion
- Verizon Communications Inc: ~$6.85 billion
- Wells Fargo & Co: ~$12.84 billion
- Bank of America Corp: ~$17.99 billion
- Exxon Mobil Corp: ~$11.35 billion
- Johnson & Johnson: ~$5.77 billion
- Procter & Gamble Co: ~$5.66 billion
- UnitedHealth Group Inc: ~$3.66 billion
- Wal-Mart Stores Inc: ~$3.93 billion
- Notable Sector Exposure: Significant positions in major banks (JPMorgan Chase, Citigroup, Bank of America), insurance (MetLife, AIG, Prudential Financial itself), and energy (Chevron, ConocoPhillips, Exxon Mobil).
- International Exposure: Holdings include ADRs and foreign-domiciled companies such as Accenture PLC, Bunge Limited, and various European and Asian entities.
Guidance, Outlook, and Risks
Guidance and Outlook: Form 13F filings are historical disclosures of holdings and do not contain forward-looking guidance, earnings outlooks, or management commentary regarding future performance.
Risks and Contingencies: The filing does not disclose specific risk factors or contingencies. However, the concentration in large-cap financial and industrial stocks implies exposure to macroeconomic cycles, interest rate fluctuations, and regulatory changes affecting the financial sector.
Unusual Items: The portfolio includes a mix of "Sole," "Shared," and "None" voting authority, indicating complex management structures across the included managers. There are no specific unusual items or restatements noted in the cover page.
Important Facts for Investor Verification
- Portfolio Size: Verify the total value of approximately $33.46 billion against Prudential's broader asset management capabilities.
- Concentration Risk: Note the significant concentration in the top 10-20 holdings, which represent a substantial portion of the reported equity value.
- Self-Holding: Prudential Financial holds a position in its own stock (PRUDENTIAL FINL INC COM), reporting 506,116 shares with defined voting authority.
- Manager Attribution: The report aggregates holdings from multiple managers (e.g., Jennison Associates, Mercator Asset Management). Investors should verify if specific strategies are attributed to specific managers within the broader filing.
- Reporting Lag: The data reflects positions as of June 30, 2012, and does not account for trades executed in the subsequent weeks prior to the August 8 filing date.