SEC Filing Summary: Prudential Financial Inc. (13F-HR)
Business Context and Reporting Period
Reporting Manager: Prudential Financial, Inc.
Filing Type: Form 13F-HR (Holdings Report)
Reporting Period: Quarter ended September 30, 2008
Submission Date: November 3, 2008
Scope: This report details the long-only equity securities held by Prudential Financial and three included managers (Prudential Investment Management, Inc., Quantitative Management Associates, and Prudential Bache Securities, LLC) over which the reporting manager exercises investment discretion.
Key Financial Metrics
Total Portfolio Value: $41,008,052,000 (approx. $41.0 billion)
Total Number of Holdings: 2,213 securities
Number of Included Managers: 3
Note: As a Form 13F filing, this document reports holdings of securities and does not contain revenue, profit, cash flow, margin, or debt metrics for Prudential Financial itself.
Material Changes and Portfolio Composition
The filing provides a snapshot of holdings as of September 30, 2008. While specific quarter-over-quarter changes are not explicitly calculated in the text, the portfolio composition reveals significant exposure to the following sectors:
- Financials: Heavy concentration in major banking and insurance institutions, including significant positions in Citigroup Inc. (15.5M shares), Bank of America Corp (18.4M shares), JPMorgan Chase & Co (12.0M shares), and Wells Fargo & Co (12.1M shares).
- Energy: Substantial holdings in energy majors such as Exxon Mobil Corp (18.7M shares), Chevron Corp (8.6M shares), and ConocoPhillips (7.0M shares).
- Technology: Large positions in Microsoft Corp (29.9M shares), Intel Corp (20.7M shares), and Cisco Systems Inc (15.1M shares).
- Consumer Staples: Significant stakes in Procter & Gamble Co (10.7M shares), Coca-Cola Co (8.1M shares), and Wal-Mart Stores Inc (7.7M shares).
The portfolio includes both common stock and derivative positions (puts/calls) on various issuers, such as Alon USA Energy Inc and Arthocare Corp.
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: The filing does not disclose specific risk factors or contingencies. However, the concentration of assets in the financial sector as of September 2008 implies significant exposure to the ongoing credit market volatility of that period.
Key Facts for Investor Verification
- Total AUM Reported: Verify the total value of $41.0 billion against the sum of individual security values to ensure data integrity.
- Financial Sector Exposure: Confirm the aggregate value of holdings in major U.S. banks (Citigroup, Bank of America, JPMorgan, Wells Fargo) to assess concentration risk relative to the total portfolio.
- Derivative Positions: Review specific entries for "PUT" or "CALL" designations (e.g., Alon USA Energy, Arthocare Corp, Cal-Maine Foods) to understand hedging strategies or speculative positions.
- Manager Attribution: Note that holdings are aggregated across four entities; specific allocation to Prudential Investment Management vs. Quantitative Management Associates is not broken down by dollar value in this summary view.