SEC Filing Summary: Prudential Financial Inc. (13F-HR)
Business Context and Reporting Period
Reporting Manager: Prudential Financial, Inc.
Filing Type: Form 13F-HR (Holdings Report)
Reporting Period: Quarter ended September 30, 2006
Submission Date: November 13, 2006
Scope: This report details the equity securities held by Prudential Financial, Inc. and two other included managers (Prudential Investment Management, Inc. and Quantitative Management Associates). It represents a snapshot of long-only equity positions and does not include debt, derivatives (other than listed options), or cash balances.
Key Financial Metrics
Total Portfolio Value: $42,398,597,000
Total Number of Holdings: 2,392 distinct securities
Top Holdings by Value (Selected):
- General Electric Co: $28,355,032,000 (10,009,330 shares)
- Microsoft Corp: $27,616,706,000 (755,317 shares)
- Johnson & Johnson: $9,039,075,000 (586,998 shares)
- Exxon Mobil Corp: $19,278,229,000 (1,293,569 shares)
- Verizon Communications: $10,550,167,000 (391,728 shares)
- Wells Fargo & Co: $9,125,736,000 (330,169 shares)
- Wal-Mart Stores Inc: $7,169,007,000 (353,575 shares)
- UnitedHealth Group Inc: $4,003,633,000 (196,979 shares)
- Procter & Gamble Co: $8,338,065,000 (516,793 shares)
- Time Warner Inc: $9,356,651,000 (170,572 shares)
Note: The filing lists 2,392 individual positions. The values above represent the largest single issuer positions identified in the text.
Material Changes and Portfolio Composition
Comparison to Prior Period: The provided text contains only the current quarter's holdings. It does not include the prior quarter's data; therefore, specific material changes (increases or decreases in positions) cannot be calculated from this document alone.
Portfolio Characteristics: The portfolio is heavily weighted toward large-cap U.S. equities across diverse sectors including Technology, Healthcare, Financials, Energy, and Consumer Staples. The manager holds significant positions in both common stock and preferred stock (e.g., various REITs and financial institutions).
Guidance, Outlook, and Risks
Management Commentary: Form 13F filings are regulatory disclosures of holdings and do not contain management commentary, earnings guidance, or forward-looking outlooks.
Risks and Contingencies: This document does not disclose specific risk factors or contingencies. However, the concentration in large-cap equities implies exposure to broad market volatility. The inclusion of "Defined" voting authority for the vast majority of shares indicates the manager exercises investment discretion over these assets.
Key Facts for Investor Verification
- Portfolio Size: Verify the total reported value of approximately $42.4 billion against the manager's total assets under management (AUM) to understand the scope of this specific reporting entity.
- Concentration Risk: The top 10 holdings represent a significant portion of the total portfolio value; verify if this concentration aligns with the manager's stated investment strategy.
- Reporting Lag: Note that 13F filings are submitted 45 days after the quarter-end (filed Nov 13 for Q3 2006), meaning the data is historical and does not reflect current market positions.
- Exclusions: Confirm that this report excludes fixed income, cash, and non-equity derivatives, which may constitute a significant portion of the firm's total assets.
- Subsidiary Reporting: Verify the specific roles of the two other included managers (Prudential Investment Management and Quantitative Management Associates) to understand if these holdings represent a consolidated view or specific sub-portfolios.