SEC Filing Summary: Form 13F Information Table
Business Context and Reporting Period
Company: Regions Financial Corp
Filing Type: Form 13F Information Table (Schedule 13F)
Reporting Period: Second Quarter ended June 30, 2018
Context: This filing discloses the equity securities held by Regions Financial Corp (or its investment managers) as of the end of the reporting period. It details the number of shares, value, and voting authority for a diversified portfolio of common stocks, preferred stocks, and exchange-traded funds (ETFs).
Key Financial Metrics and Portfolio Composition
Portfolio Overview: The filing lists hundreds of individual holdings across various sectors, including Financials, Technology, Healthcare, Energy, and Consumer Staples. The data is presented in thousands of dollars for value and shares for quantity.
- Top Equity Holdings (by Value):
- Bank of America Corp: ~$2.63 billion (Sole Discretion)
- JP Morgan Chase: ~$1.38 billion (Sole Discretion)
- Wells Fargo & Co: ~$597 million (Sole Discretion)
- Microsoft Corp: ~$1.33 billion (Sole Discretion)
- Apple Inc: ~$490 million (Sole Discretion)
- Exxon Mobil Corp: ~$1.61 billion (Sole Discretion)
- Regions Financial Corp (Self): ~$2.53 billion (Sole Discretion)
- Significant ETF Holdings:
- Vanguard FTSE Developed Markets ETF: ~$4.03 billion
- Vanguard FTSE Emerging Markets ETF: ~$2.31 billion
- BlackRock iShares Core S&P 500 ETF: ~$1.13 billion
- BlackRock iShares MSCI EAFE ETF: ~$2.27 billion
- Voting Authority: The majority of holdings are reported under "Sole" voting authority, indicating direct control by the reporting manager. A portion of holdings are listed under "Discretionary" (DFND) authority.
Material Changes
Note: As this is a static snapshot of holdings as of June 30, 2018, the filing text does not provide comparative data against the prior quarter (March 31, 2018) to calculate specific increases or decreases in positions. Material changes in portfolio composition cannot be quantified from this document alone.
Guidance, Outlook, and Risks
Management Commentary: Not applicable. Form 13F is a regulatory disclosure of holdings and does not contain management discussion, financial guidance, or forward-looking statements regarding the company's own operations or the performance of its investment portfolio.
Risks and Contingencies: The filing includes a standard SEC disclaimer stating that the Commission has not reviewed the information for accuracy or completeness. The portfolio is subject to market risk, liquidity risk, and sector-specific volatility inherent in the listed equities and ETFs.
Key Facts for Investor Verification
- Self-Holding: Regions Financial Corp holds a significant position in its own stock (~$2.53 billion), which may indicate share buyback programs or internal treasury management.
- Concentration: The portfolio shows heavy concentration in large-cap U.S. financial institutions (Bank of America, JP Morgan, Wells Fargo) and major technology firms (Microsoft, Apple, Cisco).
- ETF Exposure: A substantial portion of the portfolio is allocated to passive index funds (Vanguard and BlackRock/iShares), suggesting a core-satellite investment strategy or management of client assets via index tracking.
- Discretionary vs. Sole: Investors should note the distinction between "Sole" and "Discretionary" (DFND) voting authority, which may indicate different accounts or mandates managed by the firm.
- Data Limitation: This filing does not disclose the total assets under management (AUM) of Regions Financial Corp, only the specific equity securities reported in this table.