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 (includes holdings for Principal Financial Group and four other affiliated managers).
Reporting Period: Quarter ended September 30, 2007.
Submission Date: November 9, 2007.
Signatory: Michael Roughton, Vice-President.
Key Financial Metrics
Total Portfolio Value: $28,125,475,000 (approx. $28.1 billion).
Total Number of Holdings: 1,941 entries.
Number of Included Managers: 5 (Principal Financial Group plus 4 affiliates).
Material Changes and Portfolio Composition
Top Holdings by Value (Selected):
- General Electric Co: $11,297,092,000
- Microsoft Corp: $8,307,067,000
- Exxon Mobil Corp: $6,562,821,000
- AT&T Inc: $7,679,718,000
- Cisco Systems Inc: $6,728,464,000
- Verizon Communications: $2,978,262,000
- Johnson & Johnson: $2,796,456,000
- Procter & Gamble Co: $3,112,823,000
- Wells Fargo & Co: $4,699,315,000
- Wachovia Corp: $2,448,575,000
Notable Sector Exposure: The portfolio demonstrates significant concentration in Technology (Microsoft, Cisco, Intel, Oracle), Financials (Wells Fargo, Wachovia, Bank of America, Citigroup), Energy (Exxon Mobil, Chevron, ConocoPhillips), and Healthcare (Johnson & Johnson, Pfizer, Merck).
Guidance, Outlook, and Risks
Management Commentary: Not applicable. Form 13F is a statutory disclosure of holdings and does not contain management commentary, earnings guidance, or forward-looking statements.
Risks and Contingencies: Not applicable. This filing does not disclose specific risk factors or contingencies regarding the manager's operations.
Unusual Items: The report is a standard combination filing aggregating data from multiple affiliated managers (Principal Global Investors, Principal Real Estate Investors, Principal Life Insurance Co., and Principal Financial Services, Inc.).
Investor Verification Checklist
- Concentration Risk: Verify the impact of the top 10 holdings, which represent a substantial portion of the total $28.1 billion portfolio.
- Manager Attribution: Confirm which specific holdings are attributed to the primary manager versus the four affiliated managers listed in the summary page.
- Voting Authority: Note that the vast majority of holdings are reported with "Sole" voting authority, indicating direct control over these positions.
- Derivatives: The filing lists only common stock and ADRs; verify if separate filings (e.g., 13F-HR for derivatives) are required for a complete picture of the firm's risk exposure.