Business Context and Reporting Period
Company: Principal Financial Group Inc
Filing Type: SEC Form 13F Information Table
Reporting Period: Quarter ended December 31, 2018
Context: This filing discloses the equity securities held by Principal Financial Group Inc as a registered investment adviser. The table lists individual holdings, including issuer names, CUSIP numbers, share counts, and market values (in thousands). It does not contain consolidated financial statements for Principal Financial Group itself.
Key Financial Metrics
Revenue, Profit, Cash Flow, Margins, Debt, Liquidity: The filing text does not provide a clear value for these metrics. Form 13F is a disclosure of holdings, not a financial performance report.
Portfolio Composition: The portfolio is highly diversified across sectors including Financials, Technology, Healthcare, Energy, and Real Estate. Notable large positions by value include:
- Microsoft Corp: ~15.0 million shares
- Apple Inc: ~8.6 million shares
- Alphabet Inc (Class A & C): ~1.2 million shares
- Amazon.com Inc: ~840,000 shares
- Verizon Communications Inc: ~10.0 million shares
- AT&T Inc: ~11.6 million shares
- Wells Fargo & Co: ~6.6 million shares
- JPMorgan Chase & Co: ~8.0 million shares
Material Changes
Comparison to Prior Period: The filing text does not provide a clear value for material changes versus the prior comparable period. This specific document only lists the holdings as of the reporting date without historical comparison data.
Guidance, Outlook, and Risks
Management Commentary: The filing text does not provide a clear value for management commentary, guidance, or outlook.
Risks and Contingencies: The filing text does not provide a clear value for specific risks or contingencies. Standard Form 13F disclaimers note that the SEC has not reviewed the information for accuracy.
Unusual Items: The portfolio includes significant holdings in Exchange Traded Funds (ETFs) from providers such as Principal, iShares, SPDR, and Vanguard, indicating a passive investment strategy component alongside active stock picking.
Important Facts for Investors to Verify
- Valuation Basis: Verify that the "Value" column represents the market value in thousands of dollars as of the last trading day of the quarter.
- Voting Authority: Confirm the breakdown of voting authority (Sole, Shared, None) for specific holdings if analyzing control or influence.
- Portfolio Turnover: Compare this list with the previous quarter's 13F filing to calculate actual buy/sell activity and portfolio turnover.
- Concentration Risk: Assess the concentration of the portfolio in specific sectors (e.g., Technology and Financials appear heavily weighted) relative to the company's overall asset base.
- ETF Holdings: Note the significant allocation to ETFs, which may obscure the underlying exposure to specific industries or geographies.