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, 2007
Submission Date: November 12, 2007
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 firm exercises investment discretion.
Key Financial Metrics
Total Portfolio Value: $49,125,487,000.00
Total Number of Holdings: 2,241 distinct securities
Number of Included Managers: 3
Note: As a Form 13F filing, this document reports holdings and voting authority. It does not contain revenue, profit, cash flow, margin, debt, or liquidity metrics for Prudential Financial itself.
Material Changes and Portfolio Composition
The filing provides a snapshot of holdings as of the period end. While specific quarter-over-quarter changes are not explicitly calculated in the text, the portfolio demonstrates significant concentration in the following sectors and issuers:
- Financials: Massive positions in major banks and insurers, including Citigroup Inc. ($17.2B), JPMorgan Chase & Co. ($13.7B), Bank of America Corp ($14.4B), and MetLife Inc. ($1.6B).
- Technology: Significant exposure to Microsoft Corp ($28.5B), Intel Corp ($14.2B), Cisco Systems Inc ($15.8B), and Oracle Corp ($6.8B).
- Energy: Large stakes in Exxon Mobil Corp ($18.4B), Chevron Corp ($8.2B), and ConocoPhillips ($5.0B).
- Consumer Staples: Heavy weighting in Procter & Gamble Co ($7.6B), Wal-Mart Stores Inc ($8.2B), and Coca-Cola Co ($5.8B).
Guidance, Outlook, and Risks
Management Commentary: None. Form 13F filings are statutory disclosures of holdings and do not include management commentary, forward-looking guidance, or strategic outlooks.
Risks and Contingencies: The filing does not disclose specific risk factors or contingencies. However, the portfolio's heavy concentration in financial institutions and energy sectors as of late 2007 implies significant exposure to the credit and commodity markets of that era.
Unusual Items: The report includes holdings in various derivatives (calls and puts) and foreign securities (ADRs), but no specific unusual items are flagged in the text.
Investor Verification Checklist
- Verify the total portfolio value of approximately $49.1 billion against Prudential's broader asset management disclosures.
- Confirm the specific voting authority (Sole vs. Shared) for top holdings like Citigroup and Microsoft to understand control levels.
- Review the "Included Managers" list to ensure the reported assets align with the specific subsidiaries (e.g., Prudential Bache Securities) mentioned.
- Check subsequent 13F filings to track the reduction or increase of financial sector exposure following the 2007-2008 financial crisis.
- Validate the share counts for large-cap positions (e.g., 13.6 million shares of JPMorgan) against market data from September 30, 2007.