SEC Filing Summary: Regions Financial Corp (13F-HR)
Business Context and Reporting Period
Reporting Manager: Regions Financial Corporation
Filing Type: Form 13F-HR (Holdings Report)
Reporting Period: Quarter Ended June 30, 2006
Filing Date: August 9, 2006
Amendment Status: This is an amended filing (Amendment Number 1) designated as a restatement of the original report. The report includes holdings for one other included manager: Morgan Asset Management.
Key Financial Metrics
Note: As a Form 13F, this filing reports equity holdings and does not contain the reporting company's own revenue, profit, or cash flow statements.
- Total Portfolio Value: $2,372,320,000 (Reported in thousands)
- Total Number of Holdings: 1,079 entries
- Largest Single Position (Value): Regions Financial Corp (Self-Holding) valued at approximately $195,580,000 (Combined Defined and Other authority).
- Top Sector Exposure: Significant concentration in Financials, Energy, Technology, and Healthcare.
Material Changes and Portfolio Composition
The filing represents a restatement of holdings. Key observations regarding the portfolio composition include:
- Self-Holding: The manager holds a substantial position in its own stock (Regions Financial Corp), totaling 5,905,187 shares with a reported value of $195,580,000.
- Top External Holdings by Value:
- Exxon Mobil Corp: ~$128,045,000
- General Electric Co: ~$86,772,000
- Johnson & Johnson: ~$44,433,000
- Microsoft Corp: ~$23,361,000
- Intel Corp: ~$22,452,000
- Voting Authority: The report distinguishes between "Defined" (Sole/Shared) and "Other" voting authority, indicating a mix of direct management and managed accounts.
Guidance, Outlook, and Risks
Guidance and Outlook: Form 13F filings are historical snapshots of equity 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 portfolio shows exposure to cyclical sectors including Energy (Exxon, Chevron, ConocoPhillips) and Technology (Intel, Cisco, Microsoft), which are subject to market volatility.
Key Facts for Investor Verification
- Restatement Nature: Verify the specific changes made in this Amendment No. 1 compared to the original filing, as the document is explicitly marked as a restatement.
- Self-Holding Concentration: Confirm the strategic intent behind the large self-holding of Regions Financial Corp stock (~$195.6M) relative to the total portfolio size.
- Manager Attribution: Note that the report includes holdings for "Morgan Asset Management" (File No. 28-04225) in addition to Regions Financial Corp.
- Valuation Basis: All values are reported in thousands; ensure calculations account for this scaling when analyzing position sizes.