SEC Filing Summary: Form 13F Information Table
Business Context and Reporting Period
Company: Bank OZK (Reporting Manager)
Filing Type: Form 13F Information Table
Reporting Period: Quarter ended March 31, 2018
Context: This filing discloses the equity securities held by Bank OZK as of the end of the reporting period. It details the issuer, class of security, CUSIP, value, share count, and voting authority for each holding.
Key Financial Metrics and Portfolio Composition
Total Portfolio Value: The filing lists individual security values in thousands of dollars. The aggregate value is not explicitly stated in the text, but the portfolio consists of significant holdings in large-cap equities and exchange-traded funds (ETFs).
- Largest Single Holding: Bank of the Ozarks (Own Stock) - Value: $81,979,000 (Sole Discretion) + $5,274,000 (Other Discretion). Total Shares: 1,807,617.
- Top External Holdings by Value:
- AT&T Inc: $5,890,000 (Sole) + $438,000 (Other)
- Apple Inc: $5,975,000 (Sole) + $281,000 (Other)
- Exxon Mobil Corp: $4,387,000 (Sole) + $493,000 (Other)
- Microsoft Corp: $3,808,000 (Sole) + $347,000 (Other)
- Verizon Communications Inc: $3,388,000 (Sole) + $170,000 (Other)
- Asset Classes: The portfolio includes common stocks, preferred shares (e.g., Invesco Sr Income Tr), and ETFs (e.g., iShares, SPDR, WisdomTree).
Material Changes and Voting Authority
Voting Authority Distribution:
- Sole Discretion: The majority of holdings are managed with sole voting authority.
- Shared Discretion: Significant shared voting authority exists in the Bank of the Ozarks holding (372,335 shares) and various other positions (e.g., Bank of America, Cisco Systems, Intel Corp).
- None: Some holdings, particularly certain ETFs and specific share classes, have no voting authority reported.
Comparison to Prior Period: The filing text provided does not contain data for the prior comparable period (December 31, 2017). Therefore, material changes in holdings, additions, or deletions cannot be calculated from this document alone.
Guidance, Outlook, and Risks
Management Commentary: Form 13F filings are statutory disclosures of holdings and do not contain management commentary, forward-looking guidance, or strategic outlooks.
Risks and Contingencies:
- Concentration Risk: The portfolio holds a substantial position in its own stock (Bank of the Ozarks), representing a significant portion of the reported value.
- Market Risk: The portfolio is heavily weighted toward large-cap U.S. equities and broad market ETFs (S&P 500, MSCI EAFE), exposing the manager to general market volatility.
- Regulatory Disclaimer: The SEC has not reviewed the information for accuracy or completeness.
Key Facts for Investor Verification
- Self-Holding: Verify the strategic rationale for holding over 1.8 million shares of Bank of the Ozarks stock, split between sole and shared discretion.
- Valuation Basis: Confirm that the "Value" column represents the fair market value as of March 31, 2018, in thousands of dollars.
- Discretion Split: Review the "Other Discretion" (OTR) column to understand the extent of third-party management or client-directed accounts within the reported portfolio.
- Missing Data: Note that revenue, profit, cash flow, and debt metrics for Bank OZK are not present in this specific filing; these must be sourced from the company's 10-Q or 10-K filings.