SEC Filing Summary: Form 13F-HR
Business Context and Reporting Period
Reporting Manager: Regions Financial Corporation
Filing Type: Form 13F Holdings Report
Reporting Period: Quarter Ended March 31, 2005
Submission Date: May 13, 2005
Signatory: Ronald C. Jackson, Senior Vice President and Comptroller
This filing discloses the equity securities held by Regions Financial Corporation and one other included manager (Morgan Asset Management) as of the end of the first quarter of 2005. The report covers 1,307 individual security entries.
Key Financial Metrics
Total Portfolio Value: $2,503,258,000 (Reported in thousands)
Total Number of Holdings: 1,307 entries
Other Included Managers: 1 (Morgan Asset Management, File No. 28-04225)
Note: As a Form 13F filing, this document reports holdings of equity securities only. It does not contain data on revenue, profit, cash flow, operating margins, debt, or liquidity for Regions Financial Corporation itself.
Material Changes and Portfolio Composition
The filing provides a snapshot of holdings at a single point in time and does not explicitly state material changes versus the prior period. However, the portfolio composition reveals significant concentration in specific sectors and a substantial position in the reporting manager's own stock.
- Own Stock: Regions Financial Corporation holds a significant position in its own common stock (CUSIP 7591EP100), with a reported value of approximately $213.3 million across defined and other voting authority categories.
- Top Holdings by Value: The portfolio is heavily weighted toward large-cap financials, energy, and technology firms. Notable positions include:
- Exxon Mobil Corp (~$148.2 million)
- General Electric Co (~$116.4 million)
- Johnson & Johnson (~$57.6 million)
- Microsoft Corp (~$35.7 million)
- Bank of America Corp (~$71.8 million)
- Citigroup Inc (~$50.6 million)
- Sector Exposure: Significant exposure to Financials (Bank of America, Citigroup, Wells Fargo, JPMorgan Chase), Energy (Exxon Mobil, Chevron Texaco, ConocoPhillips), and Technology (Microsoft, Intel, Cisco Systems).
Guidance, Outlook, and Risks
Guidance and Outlook: This filing does not contain management commentary, earnings guidance, or future outlook statements. It is a statutory disclosure of current holdings.
Risks and Contingencies: The filing does not disclose specific risks or contingencies. However, the concentration of assets in large-cap equities implies exposure to general market volatility. The inclusion of "Other" voting authority for many positions indicates that a portion of the portfolio is managed on behalf of clients or other entities, rather than solely for the firm's proprietary account.
Investor Verification Checklist
- Verify the total portfolio value of $2.5 billion against the firm's total assets to determine the proportion of assets allocated to this specific equity portfolio.
- Confirm the breakdown between "Defined" (discretionary) and "Other" (non-discretionary/client) voting authority to understand the firm's proprietary investment stance versus client mandates.
- Review the significant holding in Regions Financial Corporation's own stock ($213.3 million) to assess insider confidence or potential treasury stock management strategies.
- Compare the top 10 holdings against the S&P 500 index composition to evaluate active versus passive management strategies.
- Check subsequent filings (e.g., Q2 2005) to track turnover rates and changes in sector allocation.