SEC Filing Summary: Form 13F-HR
Business Context and Reporting Period
Reporting Manager: Regions Financial Corporation (and affiliated managers: Regions Bank, Morgan Asset Management, AmSouth Investment Management Co, AmSouth Asset Management Inc).
Reporting Period: Calendar Year Ended December 31, 2007.
Filing Date: February 12, 2008.
Context: This filing represents the aggregate equity holdings of the institutional investment managers under the Regions Financial umbrella. The primary report (File No. 28-01129) is a 13F Holdings Report, while the affiliated managers filed 13F Notices indicating their holdings are reported under the primary manager.
Key Financial Metrics
Total Portfolio Value: $9,033,827 (as reported in the summary page; note: this figure appears to be in thousands based on standard 13F formatting, implying approximately $9.03 billion in total reported equity assets).
Total Number of Holdings: 2,146 distinct entries.
Top Sector Allocations (by reported value):
- Financials: Significant holdings in J.P. Morgan Chase ($65.9M), Bank of America ($86.2M), Wells Fargo ($52.9M), Citigroup ($24.2M), and Regions Financial Corp ($195.1M).
- Technology: Major positions in Microsoft ($97.6M), Intel ($87.1M), Cisco Systems ($60.4M), and Oracle ($47.0M).
- Energy: Large allocations to Exxon Mobil ($251.2M), Chevron ($115.8M), and ConocoPhillips ($44.7M).
- Healthcare: Substantial holdings in Johnson & Johnson ($97.6M), Pfizer ($36.8M), and UnitedHealth Group ($16.4M).
- Consumer Staples: Notable positions in Procter & Gamble ($112.2M), Coca-Cola ($80.4M), and PepsiCo ($89.4M).
Material Changes
The filing text provided is a static snapshot of holdings as of December 31, 2007. It does not contain comparative data against the prior quarter (September 30, 2007) or prior year to calculate material changes in position size or portfolio composition. Therefore, specific material changes cannot be determined from this document alone.
Guidance, Outlook, and Risks
Guidance/Outlook: Form 13F filings are historical disclosures of equity holdings and do not contain management guidance, earnings outlooks, or forward-looking statements.
Risks/Contingencies: The filing does not disclose specific risk factors or contingencies. However, the portfolio composition indicates significant exposure to the financial sector (including major banks and insurance companies) and the energy sector, which were subject to significant market volatility during the 2007-2008 period.
Unusual Items: The filing includes a substantial position in the reporting manager's own stock (Regions Financial Corp), valued at approximately $195.1 million, representing a significant portion of the reported portfolio.
Key Facts for Investor Verification
- Portfolio Concentration: Verify the concentration risk in the financial sector, which includes top holdings in Bank of America, Wells Fargo, Citigroup, and J.P. Morgan Chase.
- Self-Holding: Confirm the size and voting authority of the position in Regions Financial Corporation itself ($195.1M value).
- Valuation Context: Note that the reported values reflect market prices as of December 31, 2007, prior to the full onset of the 2008 financial crisis.
- Manager Structure: Verify that the holdings reported under Regions Financial Corp include the assets managed by its subsidiaries (Regions Bank, Morgan Asset Management, AmSouth entities) as indicated by the 13F Notices.
- Energy Exposure: Assess the impact of energy sector volatility on the portfolio, given the top three holdings are Exxon Mobil, Chevron, and ConocoPhillips.