SEC Filing Summary: Principal Financial Group Inc (13F-HR)
Business Context and Reporting Period
Reporting Manager: Principal Financial Group, Inc.
Filing Type: Form 13F Combination Report (Holdings Report).
Reporting Period: Quarter ended March 31, 2009.
Submission Date: May 08, 2009.
Scope: This report aggregates holdings for Principal Financial Group, Inc. and four other included managers: Principal Global Investors, Inc., Principal Real Estate Investors, LLC, Principal Life Insurance Co., and Principal Financial Services, Inc.
Key Financial Metrics
Total Portfolio Value: $14,977,802,000 (approx. $15.0 billion).
Total Number of Holdings: 2,128 entries.
Asset Class: The filing lists equity securities (Common Stock, Preferred Stock, and ADRs).
Top Holdings by Value (Estimated based on share count and period prices):
- General Electric Co (14,314,983 shares)
- Exxon Mobil Corp (6,217,508 shares)
- Wells Fargo & Co (6,189,732 shares)
- AT&T Inc (6,686,618 shares)
- Microsoft Corp (8,354,926 shares)
- Johnson & Johnson (3,399,135 shares)
- Procter & Gamble Co (3,312,047 shares)
- Verizon Communications Inc (2,965,976 shares)
- Bank of America Corp (6,966,642 shares)
- Wal-Mart Stores Inc (2,387,548 shares)
Note: Specific dollar values for individual holdings are not provided in the text; only share counts and total portfolio value are listed.
Material Changes and Portfolio Composition
Comparison to Prior Period: The filing text provided does not contain data for the prior quarter (December 31, 2008); therefore, material changes in holdings cannot be calculated from this document alone.
Portfolio Characteristics:
- Diversification: The portfolio is highly diversified across sectors including Financials, Technology, Healthcare, Energy, and Consumer Staples.
- Concentration: Significant positions are held in large-cap U.S. equities and major financial institutions.
- Voting Authority: The vast majority of holdings are reported with "Sole" voting authority. A small number of holdings (e.g., Acadia Realty Trust, Amb Property Corp, Boston Properties) show "Shared" voting authority.
Guidance, Outlook, and Risks
Management Commentary: Form 13F filings are statutory disclosures of holdings and do not contain management commentary, earnings guidance, or forward-looking statements.
Risks and Contingencies: No specific risks or contingencies are disclosed in this filing type. The filing represents a snapshot of long-only equity positions as of the quarter-end.
Unusual Items: The report includes a mix of common stock and preferred stock (e.g., Barclays Bank PLC preferred shares). No derivatives (puts/calls) are reported in the "Put/Call" columns for the listed securities.
Investor Verification Checklist
- Valuation Accuracy: Verify the $14.98 billion total value against the sum of individual holdings using March 31, 2009, closing prices to ensure consistency.
- Manager Attribution: Confirm which specific sub-manager (Principal Global, Real Estate, Life Insurance, or Financial Services) holds specific positions, as the report aggregates them.
- Financial Sector Exposure: Given the reporting date (March 2009, post-financial crisis), verify the specific exposure to distressed financial assets (e.g., Bank of America, Citigroup, Wells Fargo) to assess risk concentration.
- Share Class Details: Review specific share classes for companies with multiple classes (e.g., Google, Liberty Media, Microsoft) to understand voting rights and economic exposure.
- Missing Data: Note that this filing does not disclose short positions, derivatives, or non-equity assets (bonds, cash, real estate direct holdings).