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: Quarter ended March 31, 2014
Context: This filing discloses the equity securities held by Regions Financial Corp (or its investment management subsidiaries) as of the end of the first quarter of 2014. It details holdings across domestic and foreign issuers, including common stock, preferred stock, and convertible securities.
Key Financial Metrics and Portfolio Composition
Portfolio Overview: The filing lists hundreds of individual positions. The data provided includes the number of shares/principal amount and the approximate value (in thousands) for each holding. Specific aggregate portfolio value, revenue, or profit metrics for Regions Financial Corp itself are not contained within this specific 13F table; this form strictly reports asset holdings.
Top Holdings by Value (Selected Examples):
- General Electric Co: ~$3.8 million (3,802,746 shares)
- Intel Corp: ~$3.4 million (3,407,777 shares)
- Microsoft Corp: ~$1.4 million (1,398,039 shares)
- Regions Financial Corp (Self-Holding): ~$3.6 million (3,583,318 shares)
- Wells Fargo & Co: ~$1.9 million (1,939,100 shares)
- Verizon Communications: ~$1.4 million (1,449,552 shares)
- Exxon Mobil Corp: ~$1.6 million (1,577,855 shares)
- Johnson & Johnson: ~$1.2 million (1,158,003 shares)
- Merck & Co. Inc.: ~$1.6 million (1,624,981 shares)
- Procter & Gamble Co: ~$1.1 million (1,113,947 shares)
Asset Classes: The portfolio is heavily weighted toward large-cap U.S. equities, with significant exposure to financials, technology, healthcare, energy, and consumer staples. There are also holdings in foreign stocks (e.g., Royal Dutch Shell, HSBC, AstraZeneca) and various mutual funds/ETFs (e.g., iShares, SPDR, Vanguard).
Material Changes vs. Prior Period
Comparison Limitation: This filing represents a snapshot of holdings as of March 31, 2014. The provided text does not include the prior quarter's (December 31, 2013) data, making a direct calculation of material changes (buys/sells) impossible from this document alone. Investors must compare this table against the previous 13F filing to determine trading activity.
Guidance, Outlook, and Risks
Management Commentary: Form 13F filings do not contain management commentary, earnings guidance, or strategic outlooks. They are purely regulatory disclosures of asset ownership.
Risks and Contingencies: No specific risks or contingencies are disclosed in this table. However, the concentration in large-cap equities implies exposure to general market volatility. The presence of convertible securities (e.g., Tesla Motors, Electronic Arts, Gilead Sciences) indicates exposure to hybrid debt/equity instruments.
Important Facts for Investor Verification
- Self-Holding: Regions Financial Corp holds a significant position in its own stock (approx. 3.58 million shares), which may be part of a treasury stock program or employee benefit plan.
- Financial Sector Exposure: The portfolio maintains substantial positions in major banks (Wells Fargo, Bank of America, J.P. Morgan, Citigroup) and insurance companies (MetLife, Prudential, AIG), reflecting the filer's industry focus.
- Convertible Securities: The filing lists numerous convertible notes and preferred shares (e.g., $1.1 million in Prudential Financial convertible preferred, $790,000 in Teva Pharmaceutical convertible notes), which carry different risk/return profiles than common equity.
- Foreign Exposure: Significant holdings in foreign entities (e.g., Royal Dutch Shell, HSBC, AstraZeneca, BHP Billiton) introduce currency and geopolitical risk factors.
- Valuation Basis: All values are reported in thousands of dollars and are approximate based on market prices at the end of the reporting period.