SEC Filing Summary: Form 13F Information Table
Business Context and Reporting Period
Company: Itau Unibanco Holding S.A.
Filing Type: Form 13F Information Table (Statement of Holdings)
Reporting Period: Quarter ended March 31, 2019
Context: This filing discloses the equity securities held by the investment manager as of the end of the reporting period. It does not contain the company's own financial performance (revenue, profit, etc.) but rather its portfolio of investments in other public companies.
Key Financial Metrics and Portfolio Composition
Portfolio Overview: The filing lists hundreds of individual equity positions, including common stocks, preferred stocks, and exchange-traded funds (ETFs). The table provides the value of each holding in thousands of dollars and the number of shares held.
Top Holdings by Value (Selected):
- Itau Unibanco Holding S.A. (Self): $49,963,000 (5,466,461 shares)
- Petroleo Brasileiro S.A. (Petrobras): $148,667,000 (12,747,506 shares) + $38,477,000 (2,957,578 shares)
- Banco Bradesco S.A.: $295,906,000 (29,849,454 shares)
- Facebook Inc.: $33,943,000 (259,156 shares)
- Alphabet Inc. (Class C): $104,496,000 (100,000 shares)
- Apple Inc.: $13,690,000 (87,146 shares)
- Amazon.com Inc.: $2,698,000 (1,858 shares)
- Microsoft Corp.: $2,133,000 (21,614 shares)
- ISHARES INC MSCI JPN ETF: $195,531,000 (3,857,151 shares)
- ISHARES INC MSCI BRAZIL ETF: $64,612,000 (1,690,486 shares)
Liquidity and Debt: The filing text does not provide data on the company's own liquidity, debt levels, or cash flow. It strictly reports asset holdings.
Material Changes and Voting Authority
Voting Authority: The filing distinguishes between "Sole," "Shared," and "Discretionary" (DFND) voting authority. Significant positions with "Sole" voting authority include:
- Banco Bradesco S.A.: 3,482,007 shares with sole authority.
- Petroleo Brasileiro S.A.: 1,369,919 shares with sole authority.
- ISHARES INC MSCI JPN ETF: 2,735,646 shares with sole authority.
- ISHARES TR MSCI EMG MKT ETF: 1,183,112 shares with sole authority.
Comparisons: As this is a static snapshot of holdings for Q1 2019, the filing text does not provide a direct comparison to the prior period's holdings within this document. Material changes must be inferred by comparing this list to the previous quarter's 13F filing.
Guidance, Outlook, and Risks
Management Commentary: The filing contains no management commentary, forward-looking guidance, or outlook statements. It is a regulatory disclosure of holdings only.
Risks and Contingencies: No specific risks or contingencies are disclosed in this text. The standard SEC disclaimer notes that the Commission has not reviewed the information for accuracy.
Key Facts for Investor Verification
- Self-Holding: Verify the size of the position in its own stock (Itau Unibanco Holding S.A.) relative to the total portfolio value.
- Concentration in Brazilian Equities: Note the significant exposure to Brazilian financial and energy sectors (Banco Bradesco, Petrobras, Banco Santander Brasil).
- ETF Exposure: Confirm the substantial allocation to international ETFs, particularly the MSCI Japan ETF ($195.5M) and MSCI Brazil ETF ($64.6M).
- Voting Control: Review the "Sole" voting authority columns to understand where the firm has independent control over voting decisions versus discretionary management.
- Valuation Basis: Remember that values are reported in thousands (e.g., 49,963 represents $49,963,000).