SEC Filing Summary: Form 13F-HR
Business Context and Reporting Period
Reporting Manager: Regions Bank (Institutional Investment Manager)
Filing Type: Form 13F Holdings Report
Reporting Period: Quarter ended March 31, 2012
Submission Date: May 12, 2012
Signatory: James E. Meigs, Executive Vice President
This filing discloses the equity securities held by Regions Bank at the end of the first quarter of 2012. The report includes holdings managed directly by Regions Bank and one other included manager (also Regions Bank, File No. 085-00829).
Key Financial Metrics
Note: As a Form 13F, this filing reports portfolio holdings rather than the operating financial performance (revenue, profit, cash flow) of the reporting manager itself.
- Total Portfolio Value: $7,075,377 (Reported in thousands, representing approx. $7.08 billion)
- Total Number of Holdings: 1,889 entries
- Top Holdings by Value (Selected):
- Exxon Mobil Corp: $192,171,000
- Johnson & Johnson: $85,218,000
- General Electric: $83,382,000
- Procter & Gamble: $76,235,000
- Regions Financial Corp (Self-Holding): $30,913,000
- Asset Classes: Primarily common stock (SH), with significant holdings in preferred stock (PRN) and various Exchange Traded Funds (ETFs/Mutual Funds).
Material Changes and Portfolio Composition
The filing provides a snapshot of holdings as of March 31, 2012. It does not contain comparative data against the prior quarter (December 31, 2011) within this specific text, so material changes in position size cannot be calculated from this document alone.
Portfolio Characteristics:
- Diversification: The portfolio is highly diversified across sectors including Energy (Exxon, Chevron, ConocoPhillips), Healthcare (Pfizer, Merck, UnitedHealth), Technology (Microsoft, Oracle, Cisco), and Financials (JPMorgan, Bank of America).
- Voting Authority: The manager reports voting authority split between "Sole," "Shared," and "None" across various positions, indicating a mix of direct ownership and managed accounts.
- Self-Holding: Regions Bank holds a significant position in its own parent company, Regions Financial Corp (approx. 4.7 million shares).
Guidance, Risks, and Contingencies
Guidance and Outlook: Not applicable. Form 13F is a historical disclosure of holdings and does not contain forward-looking guidance, management commentary, or earnings outlooks.
Risks and Contingencies: The filing does not disclose specific risk factors or contingencies. However, the concentration in large-cap equities and significant exposure to the energy and financial sectors implies sensitivity to commodity price fluctuations and interest rate environments prevalent in early 2012.
Investor Verification Checklist
- Verify the total portfolio value of ~$7.08 billion against the bank's total assets to determine the size of the investment portfolio relative to the balance sheet.
- Confirm the self-holding of Regions Financial Corp shares to assess insider confidence or capital management strategies.
- Review the "Shared" voting authority columns to understand the extent of third-party managed accounts versus proprietary trading.
- Compare the top 10 holdings against the S&P 500 index composition to evaluate active vs. passive management bias.
- Note that this filing does not disclose derivatives, short positions, or non-equity assets (bonds, cash), which may represent a significant portion of the bank's total risk profile.