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: Calendar Year Ended December 31, 2006
Filing Date: February 9, 2007 (Signed February 9, 2006 in text, likely a typo in source for 2007 given the period)
Scope: This report details equity securities held by Prudential Financial 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: $44,769,368,000
Total Number of Holdings: 2,361 entries
Number of Included Managers: 3
Note: As a Form 13F filing, this document reports holdings of equity securities. It does not contain revenue, profit, cash flow, margin, debt, or liquidity metrics for Prudential Financial itself. Those figures are found in 10-K or 10-Q filings.
Material Changes and Portfolio Composition
The filing provides a snapshot of holdings as of December 31, 2006. While specific period-over-period changes are not explicitly calculated in the text, the top holdings by value indicate significant concentration in the following sectors:
- Technology: Major positions in Microsoft Corp ($26.9B), Intel Corp ($12.9B), Oracle Corp ($15.4B), and Cisco Systems ($16.7B).
- Financials: Significant exposure to JPMorgan Chase ($12.6B), Bank of America ($15.3B), Citigroup ($15.9B), and Wells Fargo ($10.2B).
- Healthcare: Large stakes in Pfizer ($25.9B), Johnson & Johnson ($9.7B), and UnitedHealth Group ($4.0B).
- Energy: Notable holdings in Exxon Mobil ($18.3B) and Chevron ($8.2B).
The report lists 2,361 individual security entries, reflecting a highly diversified portfolio across domestic and international markets.
Guidance, Outlook, and Risks
Guidance and Outlook: This filing type (13F) does not contain management commentary, earnings guidance, or future outlook statements.
Risks and Contingencies: The filing does not disclose specific risk factors or contingencies. It is a regulatory disclosure of past holdings.
Unusual Items: The report includes holdings of various derivative instruments (Calls and Puts) alongside common stock, such as options on Cisco Systems, Time Warner, and NYSE Group, indicating active options trading strategies.
Important Facts for Investor Verification
- Portfolio Size: Verify the total managed assets of approximately $44.77 billion against other regulatory filings to confirm asset growth or contraction.
- Top Concentrations: Review the top 10 holdings (e.g., Microsoft, Intel, Pfizer, Exxon Mobil) to assess sector concentration risk relative to the broader market.
- Derivative Exposure: Note the presence of call and put options on major holdings, which may indicate hedging strategies or leveraged bets not fully captured by simple share counts.
- Managerial Scope: Confirm that the reported value includes assets managed by the three subsidiary managers listed (Prudential Investment Management, Quantitative Management Associates, Prudential Bache Securities).
- Reporting Lag: Be aware that 13F filings are submitted 45 days after the quarter end; this data reflects positions as of Dec 31, 2006, and does not reflect subsequent market movements.