SEC Filing Summary: Prudential Financial Inc. (Form 13F-HR)
Business Context and Reporting Period
Reporting Manager: Prudential Financial Inc.
Reporting Period: Quarter ended June 30, 2003
Filing Date: August 13, 2003
Scope: This report discloses equity securities over which Prudential Financial Inc. and its wholly-owned subsidiaries (Prudential Investment Management, Inc., Prudential Investment Management Services, LLC, Prudential Securities Group Inc., and Jennison Associates, LLC) exercise investment discretion. The filing includes 2,383 individual security positions.
Key Financial Metrics
Total Portfolio Value: $23,566,802,000 (approx. $23.57 billion)
Number of Positions: 2,383
Asset Class: Primarily U.S. and non-U.S. common stocks and equity interests.
Liquidity/Debt: Not applicable. Form 13F reports equity holdings only and does not disclose the manager's own balance sheet, debt levels, or cash flow.
Material Changes and Portfolio Composition
Top Holdings by Value: The portfolio is heavily concentrated in large-cap U.S. equities across technology, financials, healthcare, and consumer sectors. Notable positions include:
- Microsoft Corp: $21,799,010,000
- General Electric Co: $19,470,261,000
- Intel Corp: $14,908,622,000
- Exxon Mobil Corp: $14,474,802,000
- Verizon Communications: $6,337,474,000
- Johnson & Johnson: $6,422,936,000
- Wal-Mart Stores Inc: $8,499,713,000
- Oracle Corp: $12,088,040,000
Comparison to Prior Period: The filing text provided does not contain data for the prior quarter (March 31, 2003); therefore, material changes in position size or portfolio composition cannot be calculated from this document alone.
Guidance, Outlook, and Risks
Management Commentary: Form 13F filings are statutory disclosures of holdings and do not contain management commentary, earnings guidance, or strategic outlook.
Risks and Contingencies: The filing does not disclose specific risk factors or contingencies. However, the concentration in technology and financial sectors implies exposure to market volatility in those industries as of mid-2003.
Key Facts for Investor Verification
- Portfolio Size: Verify the total reported value of approximately $23.57 billion against the manager's total assets under management (AUM) to determine the percentage of discretionary assets reported.
- Concentration Risk: Note the significant weight of top 10 holdings (e.g., Microsoft, GE, Intel) which represent a substantial portion of the reported equity value.
- Subsidiary Reporting: Confirm that the reported positions aggregate holdings from four distinct subsidiary managers, indicating a broad internal investment platform.
- Non-Reporting Assets: Acknowledge that this filing excludes fixed income, derivatives, cash, and non-equity assets, which may constitute a significant portion of the firm's total investment portfolio.