SEC Filing Summary: Bank OZK (Form 13F)
Business Context and Reporting Period
This filing is a Form 13F Information Table submitted by Bank OZK to the U.S. Securities and Exchange Commission. The reporting period covers holdings as of March 31, 2020. As a Form 13F, this document discloses the equity securities held by the institution at the end of the quarter, rather than providing a financial performance report of Bank OZK itself.
Key Financial Metrics and Portfolio Composition
The filing details a diversified portfolio of equity securities. Key metrics derived from the table include:
- Total Portfolio Value: The aggregate value of reported holdings is approximately $248.9 million (sum of Column 4 values).
- Top Holdings by Value:
- Bank OZK (Self-Held): 1,792,872 shares valued at ~$29.9 million (combining Sole and Other discretion).
- AT&T Inc: 194,796 shares valued at ~$5.7 million.
- Applied Materials Inc: 46,663 shares valued at ~$9.2 million.
- Intel Corp: 75,789 shares valued at ~$7.6 million.
- Pfizer Inc: 80,517 shares valued at ~$8.1 million.
- Asset Classes: The portfolio includes common stocks, exchange-traded funds (ETFs) such as iShares and SPDR, and real estate investment trusts (REITs).
- Voting Authority: Bank OZK reports "Sole" voting authority for the majority of its direct holdings, with "Shared" or "None" authority noted for specific positions, often associated with "Other" discretion categories.
Material Changes and Portfolio Activity
Note: This filing is a snapshot of holdings at a specific date. It does not provide comparative data against the prior quarter (December 31, 2019) to calculate material changes in position size or value.
- Discretionary Categories: Holdings are split between "Sole" discretion (managed directly by Bank OZK) and "Other" discretion (likely managed on behalf of clients or other entities).
- Derivatives: The table lists "Put/Call" columns, but no specific put or call option positions are explicitly detailed with values in the provided text; the focus is on share ownership.
Guidance, Outlook, and Risks
Guidance and Outlook: Form 13F filings do not contain management commentary, earnings guidance, or future outlook statements. This document is strictly a regulatory disclosure of current holdings.
Risks and Contingencies: The filing includes a standard disclaimer stating that the SEC has not reviewed the information for accuracy or completeness. The portfolio's exposure to specific sectors (e.g., Technology, Healthcare, Financials) implies market risk associated with those industries as of March 31, 2020, a period of significant market volatility.
Investor Verification Checklist
- Self-Holding Accuracy: Verify the reported share count of Bank OZK stock (1,792,872 total) against the company's treasury stock records and insider reporting.
- Valuation Methodology: Confirm that the reported values (Column 4) align with the closing market prices of the respective securities on March 31, 2020.
- Client vs. Proprietary: Distinguish between "Sole" discretion (proprietary bank assets) and "Other" discretion (client assets) to understand the bank's actual investment strategy versus its asset management business.
- Concentration Risk: Assess the concentration of the portfolio in specific sectors, particularly given the large positions in technology (Apple, Microsoft, Intel) and healthcare (Pfizer, Merck, AbbVie).