SEC Filing Summary: Bank OZK (Form 13F)
Business Context and Reporting Period
This filing is a Form 13F Information Table submitted by Bank OZK (Bank of the Ozarks) to the U.S. Securities and Exchange Commission. The reporting period covers holdings as of December 31, 2017. The document details the issuer's equity securities holdings, including voting authority and investment discretion, but does not contain the bank's own financial performance metrics (e.g., revenue, profit, or cash flow).
Key Financial Metrics and Holdings
As a Form 13F, this filing reports the value of securities held by the institution rather than the institution's operational results. Key data points include:
- Total Portfolio Value: The filing lists numerous holdings with values in thousands of dollars. The largest single position is the bank's own stock, Bank of the Ozarks, valued at approximately $85,393,000 (Sole Discretion) and $5,497,000 (Other Discretion).
- Top External Holdings by Value:
- AT&T Inc: ~$6,431,000 (Sole) + ~$953,000 (Other)
- Exxon Mobil Corp: ~$4,701,000 (Sole) + ~$836,000 (Other)
- AbbVie Inc: ~$3,871,000 (Sole) + ~$617,000 (Other)
- Microsoft Corp: ~$3,549,000 (Sole) + ~$325,000 (Other)
- Apple Inc: ~$5,613,000 (Sole) + ~$810,000 (Other)
- Asset Classes: The portfolio consists primarily of common stocks (SH) across technology, healthcare, financials, and energy sectors. It also includes Exchange Traded Funds (ETFs) such as iShares and SPDRs.
Material Changes and Voting Authority
The filing does not provide comparative data against the prior quarter (September 30, 2017) to determine material changes in holdings. However, it details the breakdown of voting authority for the reported period:
- Sole Discretion: The majority of holdings are managed with sole voting authority.
- Shared Discretion: A significant portion of the bank's own stock (Bank of the Ozarks) and other holdings (e.g., Medtronic, Altria) are listed under "Shared" voting authority.
- None: Some positions, particularly ETFs and specific holdings like Broadridge Financial Solutions, show "None" for voting authority.
Guidance, Outlook, and Risks
Guidance and Outlook: This filing type does not contain management commentary, forward-looking guidance, or strategic outlooks for Bank OZK.
Risks and Contingencies: The filing includes a standard disclaimer stating that the SEC has not reviewed the information for accuracy or completeness. No specific operational risks, legal contingencies, or unusual items are disclosed in this document.
Important Facts for Investor Verification
- Self-Holding Concentration: Bank OZK holds a substantial position in its own common stock (over 1.8 million shares total), which may indicate treasury stock management or employee benefit plan holdings.
- Portfolio Composition: The bank maintains a diversified portfolio of large-cap U.S. equities, with significant exposure to technology (Apple, Microsoft, Cisco) and healthcare (Pfizer, Merck, AbbVie).
- Data Limitations: Investors seeking Bank OZK's revenue, net income, or liquidity ratios must refer to the bank's Form 10-K or 10-Q filings, as this Form 13F only reports investment holdings.
- Voting Rights: Investors should note the split between "Sole," "Shared," and "None" voting authority, which may impact corporate governance dynamics for the listed issuers.