SEC Filing Summary: Genworth Financial, Inc. (Form 13F-HR)
Business Context and Reporting Period
This filing is a Form 13F Holdings Report submitted by Genworth Financial, Inc., an institutional investment manager based in Richmond, Virginia. The report covers the calendar quarter ended September 30, 2008, and was signed on November 12, 2008. The filing includes holdings managed by Genworth Financial, Inc. and one other included manager, Genworth Financial Asset Management, Inc. (File Number 28-11546).
Key Financial Metrics
As a Form 13F filing, this document reports equity holdings and does not contain the company's own revenue, profit, cash flow, or debt metrics. The following metrics relate to the portfolio managed by the firm:
- Total Portfolio Value: $1,844,286,000 (approx. $1.84 billion).
- Total Number of Holdings: 324 distinct entries.
- Top Holdings by Value:
- Mitsubishi UFJ Financial Group Inc: $2,624,088,000 (Note: Value listed in thousands in source, likely a data anomaly or specific class valuation; context suggests significant exposure).
- ExpressJet Holdings Inc: $2,153,205,000.
- Groupe CGI Inc: $2,090,691,000.
- Oracle Corp: $1,228,931,000.
- Lowes Cos Inc: $1,197,308,000.
- Asset Classes: The portfolio consists primarily of common stocks, sponsored ADRs, and Exchange Traded Funds (ETFs) including iShares, SPDR, and ProShares.
Material Changes and Portfolio Composition
The filing provides a snapshot of holdings as of September 30, 2008, and does not explicitly detail changes from the prior quarter (June 30, 2008) within the text provided. However, the portfolio composition reveals:
- Geographic Diversification: Significant holdings in international markets via ADRs (e.g., AstraZeneca, Nokia, Total S.A., Toyota Motor Corp).
- Sector Exposure: Heavy weighting in Financials (Mitsubishi UFJ, Citigroup, JPMorgan), Technology (Oracle, Microsoft, Cisco), and Consumer Staples (Procter & Gamble, PepsiCo, Wal-Mart).
- Fixed Income/ETFs: Substantial allocation to bond and sector ETFs, including iShares Lehman Aggregate Bond ETF and various utility and global equity ETFs.
Guidance, Risks, and Contingencies
Management Commentary: This form is a regulatory disclosure of holdings and contains no management commentary, forward-looking guidance, or strategic outlook.
Risks and Contingencies: The filing does not discuss specific risks. However, the portfolio's heavy exposure to financial institutions (e.g., Citigroup, JPMorgan, Mitsubishi UFJ) and the reporting date (September 2008) coincide with the peak of the global financial crisis, implying significant market risk exposure at the time of filing.
Investor Verification Checklist
- Verify the valuation of the top holdings (Mitsubishi UFJ, ExpressJet, Groupe CGI) as the reported values in thousands appear exceptionally high relative to the total portfolio sum, suggesting potential data entry anomalies or specific derivative structures not fully detailed in the summary.
- Confirm the relationship between Genworth Financial, Inc. and Genworth Financial Asset Management, Inc. to understand the scope of assets under management.
- Review the specific CUSIPs for "Sponsored ADR" holdings to ensure accurate identification of the underlying foreign issuers.
- Note that this filing does not reflect Genworth Financial's own insurance or mortgage guarantee business performance, only its investment portfolio.