SEC Filing Summary: Principal Financial Group Inc. (13F-HR)
Business Context and Reporting Period
Reporting Manager: Principal Financial Group, Inc.
Filing Type: Form 13F-HR (Holdings Report)
Reporting Period: Quarter ended June 30, 2002
Submission Date: August 13, 2002
Scope: This report discloses equity holdings for Principal Financial Group and four other included managers (Invista Capital Management, BT Financial Group, Principal Life Insurance Co, and Principal Financial Services). The filing covers 1,830 distinct security positions.
Key Financial Metrics
Total Portfolio Value: $17,664,479,000 (approx. $17.66 billion)
Total Number of Positions: 1,830
Top 5 Holdings by Value (Estimated based on share count and period prices):
- General Electric Co. (9,612,737 shares)
- Johnson & Johnson (3,785,217 shares)
- Microsoft Corp. (5,003,273 shares)
- Wal-Mart Stores, Inc. (3,651,029 shares)
- Exxon Mobil Corp. (6,660,617 shares)
Note: Form 13F reports share counts and total portfolio value but does not disclose specific revenue, profit, cash flow, or debt metrics for the reporting manager itself. The "Value" column in the source text represents the aggregate market value of the reported securities.
Material Changes and Portfolio Composition
Asset Allocation: The portfolio is heavily diversified across sectors, with significant exposure to Technology, Financials, Healthcare, and Energy.
- Technology: Major positions in Cisco Systems, Intel, Hewlett-Packard, and Oracle.
- Financials: Significant holdings in Citigroup, Bank of America, J.P. Morgan Chase, and Wells Fargo.
- Healthcare: Large stakes in Pfizer, Merck, and UnitedHealth Group.
- Consumer Staples: Notable positions in Procter & Gamble, Coca-Cola, and Philip Morris.
Voting Authority: The vast majority of holdings are reported with "Sole" voting authority, indicating direct control over the voting rights of these shares. A small portion is reported with "Shared" or "None" authority.
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: No specific risk factors or contingencies are disclosed in this filing type. The filing serves solely to report the composition of the investment portfolio as of the quarter-end date.
Investor Verification Checklist
- Concentration Risk: Verify the percentage of the total portfolio held in the top 10 positions (e.g., GE, J&J, Microsoft) to assess concentration risk.
- Turnover Analysis: Compare this filing with the previous quarter's 13F to identify significant buys or sells in key sectors like Technology or Energy.
- Valuation Context: Cross-reference the reported share counts with market prices as of June 30, 2002, to validate the reported total portfolio value of $17.66 billion.
- Related Party Transactions: Note the inclusion of four other managers; verify if any holdings overlap with Principal's own insurance or asset management products.
- Regulatory Compliance: Confirm that the filing was submitted within the required 45-day window following the quarter-end (August 13, 2002, is within the deadline).