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 September 30, 2009
Submission Date: November 12, 2009
Signatory: James E. Meigs, Executive Vice President
This filing discloses the equity securities held by Regions Bank at the end of the third quarter of 2009. The report includes holdings managed directly by Regions Bank and one other included manager (Regions Bank, File No. 085-00829).
Key Financial Metrics
Total Portfolio Value: $6,393,801 (in thousands)
Total Number of Holdings: 1,995 entries
Top Holdings by Value (Selected):
- Exxon Mobil Corp: $154,417,000 (Defined) + $60,995,000 (Discretionary/Other)
- Procter & Gamble Co: $72,113,000 (Defined) + $25,482,000 (Discretionary/Other)
- Microsoft Corp: $66,884,000 (Defined) + $16,048,000 (Discretionary/Other)
- Johnson & Johnson: $86,863,000 (Defined) + $27,021,000 (Discretionary/Other)
- Wells Fargo & Co: $59,144,000 (Defined) + $11,014,000 (Discretionary/Other)
- Regions Financial Corp: $45,280,000 (Defined) + $31,327,000 (Discretionary/Other)
Note: Values are reported in thousands of dollars as per the filing. The portfolio is heavily weighted toward large-cap U.S. equities in the financial, energy, consumer staples, and technology sectors.
Material Changes and Portfolio Composition
Self-Holding: The manager holds a significant position in its own parent company, Regions Financial Corp, totaling approximately $76.6 million across defined and discretionary accounts.
Sector Concentration: The portfolio demonstrates significant exposure to:
- Financials: Major holdings in J.P. Morgan Chase, Bank of America, Wells Fargo, Citigroup, and Goldman Sachs.
- Energy: Substantial positions in Exxon Mobil, Chevron, ConocoPhillips, and Devon Energy.
- Technology: Large allocations to Microsoft, Intel, Cisco Systems, and Oracle.
- Consumer Staples: Significant stakes in Procter & Gamble, Coca-Cola, PepsiCo, and Wal-Mart Stores.
Derivatives and Other: The filing includes holdings in various ETFs (e.g., SPDR Trust, iShares) and preferred securities (e.g., Regions Financial, various MLPs).
Guidance, Outlook, and Risks
Management Commentary: Form 13F filings are statutory disclosures of holdings and do not contain management commentary, forward-looking guidance, or strategic outlooks.
Risks and Contingencies: As a snapshot of holdings, this document does not disclose specific risk factors or contingencies. However, the concentration in financial and energy sectors reflects the market environment of late 2009, a period characterized by post-financial crisis recovery and volatility in commodity prices.
Key Facts for Investor Verification
- Self-Ownership: Verify the magnitude of the $76.6 million holding in Regions Financial Corp relative to the total portfolio size.
- Concentration Risk: Assess the impact of the top 10 holdings, which represent a significant portion of the total $6.39 billion portfolio value.
- Account Types: Distinguish between "Defined" (sole voting authority) and "Discretionary/Other" (shared voting authority) holdings, as this affects the manager's control over the securities.
- Reporting Lag: Note that this data reflects positions as of September 30, 2009, and does not account for trading activity in the subsequent quarter.