SEC Filing Summary: Form 13F-HR
Business Context and Reporting Period
Reporting Manager: Regions Bank (acting for Regions Financial Corp) and Morgan Asset Management Inc.
Reporting Period: Quarter ended March 31, 2008.
Filing Date: May 12, 2008.
Context: This filing discloses the equity securities held by the institutional investment managers. The report includes a summary of holdings for Regions Bank and a notice indicating that Morgan Asset Management's holdings are reported by other managers. The filing covers a total of 2,214 entries with a combined reported value of approximately $8.33 million in the summary table, though the detailed schedule lists significantly larger aggregate positions across major sectors.
Key Financial Metrics and Holdings
Total Reported Value (Summary Table): $8,332,493 (Note: This figure represents the summary table total; the detailed schedule reflects much larger aggregate holdings).
Top Holdings by Value (Selected from Schedule):
- Exxon Mobil Corp: ~$328 million (Combined Defined and Discretionary)
- General Electric Co: ~$222 million
- Microsoft Corp: ~$96 million
- Johnson & Johnson: ~$129 million
- Procter & Gamble Co: ~$138 million
- Regions Financial Corp (Own Stock): ~$267 million
- Wells Fargo & Co: ~$64 million
- Verizon Communications: ~$85 million
- Walmart Stores Inc: ~$83 million
- Walgreen Co: ~$53 million
Sector Exposure: Significant exposure to Financials (including own stock, banks, and insurance), Energy (Exxon, Chevron, ConocoPhillips), Healthcare (Pfizer, Merck, J&J), and Technology (Microsoft, Intel, Cisco).
Material Changes
Comparison Data: The filing text does not provide comparative data for the prior quarter (December 31, 2007). Therefore, specific material changes in position size or value cannot be calculated from this document alone.
Guidance, Outlook, and Risks
Management Commentary: Form 13F filings are statutory disclosures of holdings and do not contain management guidance, earnings outlook, or strategic commentary.
Risks and Contingencies: No specific risks or contingencies are disclosed in this form. The filing represents a snapshot of long-only equity positions (and some derivatives) as of the quarter-end date.
Key Facts for Investor Verification
- Own Stock Position: Verify the size of the "Defined" and "Discretionary" holdings in Regions Financial Corp stock, which totaled over 13.5 million shares valued at approximately $267 million.
- Concentration Risk: Note the heavy concentration in large-cap blue-chip stocks (e.g., Exxon, GE, Microsoft) and the financial sector.
- Reporting Structure: Confirm that Morgan Asset Management's holdings are reported separately, as indicated by the "13F Notice" status in their section of the filing.
- Valuation Timing: All values are based on market prices as of March 31, 2008, and do not reflect subsequent market movements.