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 September 30, 2018. As a Form 13F, this document discloses the equity securities held by the institution at the end of the quarter, rather than reporting the bank's own operational financial performance.
Key Financial Metrics and Holdings
The filing details a diversified portfolio of equity securities. Key metrics include:
- Total Portfolio Value: The filing lists individual positions with values in thousands of dollars (Column 4). The aggregate value is not explicitly summed in the text, but the portfolio includes significant positions in major U.S. corporations.
- Largest Holdings by Value:
- Bank OZK (Own Stock): 1,949,259 shares (Sole: 1,679,992; Other: 269,267) valued at approximately $73.7 million.
- AT&T Inc: 177,600 shares valued at approximately $59.1 million.
- Apple Inc: 36,802 shares valued at approximately $27.6 million.
- Altria Group Inc: 41,256 shares valued at approximately $27.3 million.
- Applied Materials Inc: 46,098 shares valued at approximately $27.3 million.
- Voting Authority: The filing distinguishes between "Sole," "Shared," and "None" voting authority. Bank OZK holds sole voting authority for the majority of its large-cap positions.
- Derivatives: The portfolio includes Put and Call options for several issuers, including Bank OZK, Altria Group, and Applied Materials.
Material Changes
Not Applicable: This filing is a snapshot of holdings as of September 30, 2018. It does not contain comparative data against the prior quarter (June 30, 2018) or year-over-year changes. Therefore, material changes in the portfolio composition cannot be determined from this document alone.
Guidance, Outlook, and Risks
Not Applicable: Form 13F filings are strictly regulatory disclosures of holdings. They do not contain management commentary, forward-looking guidance, risk factors, or contingency plans regarding the bank's future operations or financial outlook.
Investor Verification Checklist
- Concentration Risk: Verify the total percentage of the bank's assets represented by this equity portfolio to assess concentration risk.
- Own Stock Holdings: Note the significant holding of Bank OZK common stock (approx. $73.7M) and determine if this represents treasury stock, employee benefit plan assets, or proprietary trading.
- Derivative Exposure: Review the "Put/Call" columns for positions like Altria Group and Applied Materials to understand potential hedging strategies or speculative exposure.
- Valuation Basis: Confirm that the "Value" column reflects the market price as of the quarter-end date (September 30, 2018) and not a cost basis.
- Regulatory Compliance: Ensure the "Other" voting authority categories (OTR) are consistent with the bank's fiduciary responsibilities for client accounts.