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 March 31, 2006
Filing Date: May 15, 2006
Scope: This report details equity securities over which Prudential Financial, Inc. and its included managers (Prudential Investment Management, Inc. and Quantitative Management Associates) exercised sole or shared investment discretion.
Key Financial Metrics
Total Portfolio Value: $42,313,300,000
Total Number of Holdings: 2,498 entries
Number of Included Managers: 2 (plus Prudential Financial, Inc.)
Note: As a Form 13F filing, this document reports holdings of equity securities (stocks, warrants, options) and does not contain revenue, profit, cash flow, debt, or margin data for Prudential Financial itself.
Material Changes and Portfolio Composition
The filing lists 2,498 individual security positions. While specific quarter-over-quarter changes are not explicitly tabulated in the summary text, the portfolio demonstrates significant concentration in large-cap U.S. equities across multiple sectors. Notable top holdings by value include:
- Technology: Microsoft Corp ($21.09B), Intel Corp ($10.66B), Cisco Systems Inc ($13.45B), Oracle Corp ($8.55B).
- Financials: Citigroup Inc ($10.75B), JPMorgan Chase & Co ($7.29B), Bank of America Corp ($9.51B), Wells Fargo & Co ($3.24B).
- Healthcare: Pfizer Inc ($14.10B), Johnson & Johnson ($7.13B), Merck & Co Inc ($5.36B).
- Consumer: Wal-Mart Stores Inc ($4.63B), Home Depot Inc ($5.86B), Procter & Gamble Co ($5.98B).
- Energy: Exxon Mobil Corp ($12.60B), Chevron Corp ($5.32B).
The portfolio includes a mix of common stock, preferred stock, and derivative positions (calls and puts) on various issuers.
Guidance, Outlook, and Risks
Management Commentary: Form 13F filings are statutory disclosures of holdings and do not contain management commentary, earnings guidance, or forward-looking outlooks regarding the reporting manager's own business performance.
Risks and Contingencies: The filing does not disclose specific risk factors or contingencies. The primary risk inherent in this data is the lag time between the quarter-end (March 31) and the filing date (May 15), meaning the portfolio composition may have changed significantly since the reporting period.
Important Facts for Investor Verification
- Portfolio Size: Verify the total managed assets of $42.3 billion against Prudential's broader asset management reports to understand the scope of this specific discretionary portfolio.
- Concentration Risk: Note the heavy weighting in mega-cap technology and financial stocks, which may indicate a specific investment strategy or index-tracking mandate for this segment of assets.
- Derivative Usage: The filing includes numerous call and put options (e.g., on Microsoft, Intel, Coach, Nike). Investors should verify if these are used for hedging or speculative purposes in the context of the broader fund strategy.
- Reporting Lag: Confirm that the data reflects positions as of March 31, 2006, and does not represent current holdings.
- Manager Attribution: Distinguish between positions held by Prudential Financial, Inc. versus its subsidiaries (Prudential Investment Management, Inc. and Quantitative Management Associates) if granular attribution is required.