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 September 30, 2003
Date Filed: November 10, 2003
Scope: This report details the long-only equity securities over which Prudential Financial, Inc. and its wholly-owned subsidiaries (Prudential Equity Group, Inc. and Jennison Associates, LLC) exercised sole or shared investment discretion. The filing includes two other managers reporting under this umbrella.
Key Financial Metrics
Total Portfolio Value: $24,310,565,000
Total Number of Holdings: 2,381 securities
Asset Class: Primarily U.S. Common Stocks and Preferred Stocks.
Liquidity & Debt: As a Form 13F filing, this document reports equity holdings only. It does not disclose the reporting manager's corporate balance sheet, cash flow, debt levels, or liquidity ratios.
Material Changes and Portfolio Composition
Top Holdings by Value (Selected):
- General Electric Co: $19,818,511,000
- Microsoft Corp: $22,900,268,000
- Exxon Mobil Corp: $14,877,115,000
- Wal-Mart Stores Inc: $9,034,118,000
- Verizon Communications: $6,510,261,000
- Johnson & Johnson: $6,378,115,000
- Home Depot Inc: $5,409,064,000
- Procter & Gamble Co: $2,694,387,000
- United Parcel Service Inc: $2,257,268,000
- Wells Fargo & Co: $3,638,527,000
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 regarding the reporting manager's own business performance.
Risks and Contingencies: The filing does not disclose specific risk factors or contingencies. However, the concentration in large-cap U.S. equities implies exposure to broad market volatility, interest rate changes, and sector-specific regulatory risks prevalent in the 2003 market environment.
Investor Verification Checklist
- Concentration Risk: Verify the impact of the top 10 holdings, which represent a significant portion of the $24.3 billion portfolio value.
- Subsidiary Attribution: Confirm which specific holdings are managed by Prudential Equity Group versus Jennison Associates, as the filing aggregates these entities.
- Market Timing: Note that these holdings reflect positions as of September 30, 2003; subsequent trading activity is not reflected until the next quarterly filing.
- Non-Equity Assets: Recognize that this report excludes fixed income, derivatives, cash, and real estate holdings, providing an incomplete picture of the total asset base.