PRU

SEC Filing Summary: Prudential Financial Inc. (13F-HR)

Business Context and Reporting Period

Reporting Manager: Prudential Financial, Inc.
Filing Type: Form 13F-HR (Quarterly Report of Holdings)
Reporting Period: Quarter ended March 31, 2012
Submission Date: May 14, 2012
Scope: This report details the equity securities held by Prudential Financial, Inc. and three other included managers (Jennison Associates LLC, Mercator Asset Management LP, Prudential Investment Management, Inc., Quantitative Management Associates, and Prudential Trust Company). The filing represents a combination report covering 2,793 distinct security positions.

Key Financial Metrics

Total Portfolio Value: $36,687,769,000 (approx. $36.7 billion)
Total Number of Positions: 2,793
Top Holdings by Value (Selected):

• General Electric Co: 24,179,315 shares (Sole/Shared voting authority)
• Microsoft Corp: 15,794,576 shares
• Exxon Mobil Corp: 11,352,495 shares
• Johnson & Johnson: 6,108,679 shares
• Wells Fargo & Co: 14,345,992 shares
• Verizon Communications Inc: 6,804,574 shares
• UnitedHealth Group Inc: 3,999,614 shares
• Oracle Corp: 10,775,930 shares
• Intel Corp: 15,477,673 shares
• Bank of America Corp: 19,603,874 shares

Note: The filing lists share counts and voting authority but does not provide specific market values for individual positions or aggregate revenue/profit metrics for the portfolio itself, as this is a holdings disclosure rather than an earnings report.

Material Changes and Portfolio Composition

Asset Class Focus: The portfolio is heavily concentrated in large-cap U.S. equities across diverse sectors including Technology, Financials, Healthcare, Energy, and Consumer Staples.
Notable Sector Exposure:

• Technology: Significant holdings in Microsoft, Intel, Oracle, Cisco Systems, and Hewlett-Packard.
• Financials: Major positions in Bank of America, Wells Fargo, JPMorgan Chase, Citigroup, and Goldman Sachs.
• Healthcare: Large stakes in Johnson & Johnson, Pfizer, UnitedHealth Group, and Merck.
• Energy: Substantial holdings in Exxon Mobil, Chevron, ConocoPhillips, and Schlumberger.

International Exposure: The filing includes significant holdings in foreign issuers, including Accenture PLC (Ireland), Bunge Limited (Bermuda), and various ADRs (e.g., Taiwan Semiconductor, Petrobras).

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 regarding future performance.
Risks and Contingencies: The filing does not disclose specific risk factors or contingencies. However, the concentration in large-cap equities implies exposure to broad market volatility, interest rate sensitivity (particularly in the financial and utility sectors), and sector-specific regulatory risks (e.g., healthcare and energy).

Key Facts for Investor Verification

• Portfolio Size: Verify the total reported value of approximately $36.7 billion against Prudential's broader asset management disclosures.
• Concentration Risk: Assess the impact of the top 10 holdings (e.g., GE, Microsoft, Exxon) on the overall portfolio volatility.
• Voting Authority: Note the distinction between "Sole," "Shared," and "None" voting authority, which indicates the degree of control Prudential exercises over these positions.
• Manager Attribution: Confirm which specific sub-managers (e.g., Jennison Associates, Mercator) hold specific positions, as the report aggregates data from multiple entities.
• Turnover: Compare this filing with the prior quarter's 13F to identify significant buy/sell activity, particularly in the financial and technology sectors.