SEC Filing Summary: Form 13F-HR
Business Context and Reporting Period
Reporting Manager: Regions Bank (filing on behalf of Regions Financial Corp and Morgan Asset Management Inc.)
Report Type: Form 13F Holdings Report (13F-HR)
Reporting Period: Quarter ended December 31, 2008
Filing Date: February 12, 2009
Context: This filing discloses the equity securities held by the institutional investment manager at the end of the fourth quarter of 2008. The report aggregates holdings for Regions Bank and includes two other included managers (Regions Bank and Morgan Asset Management).
Key Financial Metrics
Total Portfolio Value: $5,818,432 (as reported in the summary page; note: this figure represents the aggregate value of the specific holdings listed in the summary table, not necessarily the total assets under management for the entire institution).
Total Number of Holdings: 1,853 entries.
Top Holdings by Value (Selected):
- Exxon Mobil Corp: $197,482,000 (Defined) + $87,546,000 (Discretionary/Other)
- Verizon Communications: $67,960,000 (Defined) + $16,903,000 (Discretionary/Other)
- Wells Fargo & Co: $58,792,000 (Defined) + $10,549,000 (Discretionary/Other)
- Procter & Gamble Co: $88,617,000 (Defined) + $29,381,000 (Discretionary/Other)
- Johnson & Johnson: $89,155,000 (Defined) + $28,504,000 (Discretionary/Other)
- Regions Financial Corp (Self-Holding): $58,013,000 (Defined) + $38,753,000 (Discretionary/Other)
Note: Values are in thousands as per the filing format. The filing lists specific share counts and voting authority for each position.
Material Changes
The filing text provided is a snapshot of holdings as of December 31, 2008. It does not contain comparative data for the prior quarter (September 30, 2008) or year-over-year changes. Therefore, material changes in position size or portfolio composition cannot be determined from this document alone.
Guidance, Outlook, and Risks
Guidance and Outlook: Form 13F filings are historical disclosures of equity holdings and do not contain forward-looking guidance, earnings outlooks, or management commentary regarding future performance.
Risks and Contingencies: The filing does not disclose specific risk factors or contingencies. However, the portfolio composition reflects significant exposure to the financial sector (e.g., Wells Fargo, Bank of America, Citigroup, Regions Financial) and energy sector (e.g., Exxon Mobil, Chevron, ConocoPhillips) as of the end of 2008, a period characterized by significant market volatility in these industries.
Unusual Items: The filing includes a "13F Notice" for Morgan Asset Management Inc., indicating that no holdings were reported directly by that entity in this specific submission, as they are reported by another manager.
Important Facts for Investor Verification
- Self-Holding: Regions Bank holds a significant position in its own parent company, Regions Financial Corp (approx. $96.7M combined value across categories).
- Financial Sector Exposure: The portfolio contains substantial positions in major U.S. banks including Bank of America, Citigroup, JPMorgan Chase, and Wells Fargo.
- Energy Sector Concentration: Significant capital is allocated to major energy producers such as Exxon Mobil, Chevron, and ConocoPhillips.
- Reporting Scope: The total value listed ($5.8M in the summary header) appears to be a subset or specific aggregation; the detailed table lists individual positions with values in the millions (e.g., Exxon Mobil at ~$285M). Investors should verify the total assets under management against the sum of the detailed table entries rather than the summary header total.
- Multiple Managers: The report covers holdings managed by Regions Bank and Morgan Asset Management Inc., requiring verification of which manager controls specific positions.