SEC Filing Summary: Form 13F-HR
Business Context and Reporting Period
Reporting Manager: Regions Bank (acting as Institutional Investment Manager for Regions Financial Corp)
Filing Type: Form 13F Holdings Report
Reporting Period: Calendar Quarter Ended December 31, 2009
Filing Date: February 12, 2010
Signatory: James E. Meigs, Executive Vice President
This filing discloses the equity securities held by Regions Bank at the end of the fourth quarter of 2009. The report includes holdings managed directly by Regions Bank and one other included manager (also Regions Bank, File No. 085-00829).
Key Financial Metrics
Note: As a Form 13F, this filing reports portfolio holdings rather than the operating financial performance (revenue, profit, cash flow) of the reporting institution itself.
- Total Portfolio Value: $6,511,577 (Reported in thousands, representing approximately $6.51 billion)
- Total Number of Holdings: 2,026 entries
- Asset Class: Primarily Common Stock (SH), Preferred Stock (PRN), and Mutual Funds (MUT).
- Voting Authority: The manager reported Sole, Shared, and None voting authority across various positions.
Material Changes and Portfolio Composition
The filing provides a snapshot of holdings as of December 31, 2009. It does not contain comparative data for the prior quarter (September 30, 2009) within this specific text, preventing a direct calculation of material changes in position size or value versus the prior period.
Top Holdings by Reported Value (in thousands):
| Issuer | Value ($000s) | Shares |
|---|---|---|
| Exxon Mobil Corp | 146,905 | 2,154,348 |
| Regions Financial Corp | 34,712 | 6,561,735 |
| Johnson & Johnson | 89,047 | 1,382,499 |
| Procter & Gamble Co | 73,059 | 1,204,993 |
| Microsoft Corp | 76,945 | 2,524,449 |
| Walmart Stores Inc | 60,069 | 1,123,820 |
| Verizon Communications | 62,413 | 1,883,867 |
| Intel Corp | 72,195 | 3,538,973 |
| 3M Co | 71,197 | 861,219 |
| CVS/Caremark | 39,821 | 1,236,290 |
Guidance, Outlook, and Risks
Management Commentary: Not applicable. Form 13F is a regulatory disclosure of holdings and does not contain management discussion, guidance, or outlook.
Risks and Contingencies: The filing does not disclose specific risk factors or contingencies. However, the portfolio includes significant exposure to the financial sector (e.g., Bank of America, Citigroup, Wells Fargo, Regions Financial) and energy sector (e.g., Exxon Mobil, Chevron, Devon Energy), which were subject to significant market volatility during the 2009 reporting period.
Unusual Items: The portfolio includes a substantial position in the reporting manager's own parent company, Regions Financial Corp ($34.7 million value), and significant holdings in Exchange Traded Funds (ETFs) such as SPDR Trust and iShares.
Investor Verification Checklist
- Portfolio Concentration: Verify the concentration risk in the top 10 holdings, which represent a significant portion of the reported $6.5 billion value.
- Financial Sector Exposure: Assess the impact of the 2009 financial crisis aftermath on the large holdings in major banks (Bank of America, Citigroup, Wells Fargo, J.P. Morgan).
- Self-Holding: Note the significant investment in Regions Financial Corp stock and its potential impact on the manager's voting power and conflict of interest disclosures.
- Valuation Basis: Confirm that the reported values are based on market prices as of December 31, 2009, and may differ from current market values.
- Derivatives: The filing lists "Put" and "Call" columns, but the provided text shows no significant derivative positions (values are 0 or blank for most entries); verify if any off-balance-sheet derivatives exist in other filings.