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, 2011
Filing Date: May 13, 2011
Scope: This report details the equity securities held by Prudential Financial and four other included managers (Jennison Associates LLC, Mercator Asset Management LP, Prudential Investment Management, Inc., Quantitative Management Associates, Prudential Bache Securities, LLC, and Prudential Trust Company).
Key Financial Metrics
Total Portfolio Value: $38,963,897,000 (approx. $38.96 billion)
Total Number of Holdings: 2,870 distinct entries
Top Holdings by Value (Selected):
- General Electric Co: 33,361,655 shares
- Bank of America Corp: 29,440,812 shares
- Citigroup Inc: 77,875,987 shares
- Microsoft Corp: 22,683,007 shares
- Verizon Communications Inc: 7,485,414 shares
- Wells Fargo & Co: 15,762,585 shares
- Exxon Mobil Corp: 13,703,667 shares
- Johnson & Johnson: 6,925,756 shares
- Procter & Gamble Co: 7,632,636 shares
- Wal-Mart Stores Inc: 5,699,848 shares
Note: Form 13F reports share counts and aggregate values but does not disclose specific revenue, profit, cash flow, or debt metrics for the reporting manager itself.
Material Changes and Portfolio Composition
Asset Allocation: The portfolio is heavily diversified across sectors, with significant exposure to Financials, Technology, Healthcare, Energy, and Consumer Staples.
Voting Authority: The vast majority of holdings are reported with "Sole" or "Shared" voting authority, indicating active management of these positions.
Derivatives: The filing lists "Call" and "Put" options for certain positions (e.g., AFLAC, AES Corp, Ak Steel), indicating the use of derivatives for hedging or leverage, though specific notional values are not aggregated in the summary table.
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 risks or contingencies are disclosed in this document. The filing serves solely to report positions held at the end of the quarter.
Unusual Items: The portfolio includes significant holdings in distressed or turnaround sectors common for the 2011 period, such as major banks (Bank of America, Citigroup) and automotive suppliers, reflecting the post-2008 financial recovery landscape.
Investor Verification Checklist
- Verify the total portfolio value of ~$39 billion against Prudential's broader 10-Q/10-K filings to understand the proportion of assets managed under this specific 13F mandate.
- Review the specific voting authority (Sole vs. Shared) for top holdings to assess the degree of control Prudential exerts over these companies.
- Compare the share counts of major financial holdings (e.g., Citigroup, Bank of America) against the previous quarter's 13F to identify significant accumulation or liquidation trends.
- Check for any "Call" or "Put" option positions listed in the detailed table to understand hedging strategies employed for specific equities.
- Confirm the inclusion of the four other managers listed to ensure the total value reflects the consolidated reporting group.