SEC Filing Summary: Prudential Financial Inc. (13F-HR)
Business Context and Reporting Period
Reporting Manager: Prudential Financial, Inc.
Filing Type: Form 13F-HR (Holdings Report)
Reporting Period: Quarter ended June 30, 2007
Filing Date: August 14, 2007
Scope: This report details the equity securities held by Prudential Financial, Inc. and three other included managers (Prudential Investment Management, Inc., Quantitative Management Associates, and Prudential Bache Securities, LLC) over which the reporting manager exercises investment discretion.
Key Financial Metrics
Total Portfolio Value: $49,336,862,000.00
Total Number of Holdings: 2,267 entries
Number of Included Managers: 3
Top Holdings by Value (Selected):
- General Electric Co: 28,640,488 shares (Sole Voting: 8,551,547)
- Microsoft Corp: 28,870,281 shares (Sole Voting: 8,007,970)
- Johnson & Johnson: 9,780,584 shares (Sole Voting: 2,700,096)
- Exxon Mobil Corp: 19,249,234 shares (Sole Voting: 5,418,271)
- Wells Fargo & Co: 11,148,117 shares (Sole Voting: 3,178,613)
- Verizon Communications: 9,959,001 shares (Sole Voting: 2,823,723)
- UnitedHealth Group Inc: 6,077,260 shares (Sole Voting: 1,529,083)
- Time Warner Inc: 13,601,377 shares (Sole Voting: 3,722,224)
- Wal-Mart Stores Inc: 8,092,568 shares (Sole Voting: 2,388,278)
- Procter & Gamble Co: 8,862,435 shares (Sole Voting: 2,800,265)
Material Changes and Portfolio Composition
Asset Class Focus: The portfolio is heavily concentrated in large-cap U.S. equities across diverse sectors including Technology, Healthcare, Financials, Energy, and Consumer Staples.
Derivatives: The filing includes positions in Call and Put options for various issuers (e.g., American Home Mortgage Investment Corp, Cree Inc, Hologic Inc, Pool Corp, True Religion Apparel Inc), indicating active use of derivatives for hedging or speculation.
Foreign Holdings: Significant exposure to international markets via American Depositary Receipts (ADRs), including Royal Dutch Shell, Toyota Motor Corp, and various European and Asian financial and industrial firms.
Real Estate: Substantial holdings in Real Estate Investment Trusts (REITs) such as Simon Property Group, Prologis, and Ventas Inc.
Guidance, Outlook, and Risks
Management Commentary: As a Form 13F filing, this document contains no management commentary, earnings guidance, or forward-looking statements regarding the company's own financial performance or strategy.
Risks and Contingencies: The filing does not disclose specific risk factors or contingencies. However, the sheer size and diversification of the portfolio imply exposure to broad market volatility, sector-specific downturns, and interest rate sensitivity (particularly given the large financial and REIT holdings).
Key Facts for Investor Verification
- Portfolio Size: Verify the total reported value of approximately $49.3 billion against Prudential's broader asset management disclosures.
- Concentration Risk: Assess the impact of the top 10 holdings, which represent a significant portion of the total portfolio value.
- Derivative Exposure: Review the specific Call and Put positions to understand the net directional bias or hedging strategies employed by the manager.
- Manager Attribution: Note that the holdings are aggregated across four distinct managers; specific allocation strategies may vary between Prudential Investment Management, Quantitative Management Associates, and Prudential Bache Securities.
- Reporting Lag: Confirm that the data reflects positions as of June 30, 2007, and does not account for trading activity in the subsequent quarter.