Business Context and Reporting Period
This Form 13F-HR filing reports the U.S. equity holdings of Lloyds Banking Group Plc and its included managers. The reporting period covers the quarter ended March 28, 2013. The report was signed on April 30, 2013, by Mr. Darren Hemsley of the Share Disclosure Team. The filing includes holdings managed by Lloyds Banking Group Plc, Scottish Widows Investment Partnership Limited, Lloyds TSB Offshore Private Clients Limited, and Lloyds TSB Offshore Limited.
Key Financial Metrics
As a Form 13F filing, this document discloses investment positions rather than the operating financial performance (revenue, profit, cash flow) of Lloyds Banking Group itself. The following metrics relate to the reported portfolio:
- Total Portfolio Value: $9,472,219,000 (reported in thousands as $9,472,219).
- Total Number of Holdings: 612 entries.
- Exchange Rate Used: 1.5181 (GBP to USD).
- Top Holdings by Value:
- Exxon Mobil Corp: $209,830,000
- Apple Inc: $209,693,000
- Citigroup Inc: $189,207,000
- American Express Co: $181,664,000
- General Electric Co: $125,538,000
Note: Revenue, profit, margins, debt, and liquidity figures for Lloyds Banking Group are not contained in this filing.
Material Changes
This filing is a standard quarterly report. The document does not provide comparative data against the prior quarter (December 31, 2012) to calculate material changes in holdings or portfolio value. Therefore, specific increases or decreases in positions cannot be determined from this text alone.
Guidance, Outlook, and Risks
Form 13F filings are regulatory disclosures of past holdings and do not contain management guidance, future outlook, risk factors, or commentary on contingencies. The filing represents a snapshot of positions held as of March 28, 2013, with voting authority generally listed as "Defined" (sole or shared).
Investor Verification Checklist
- Verify the total portfolio value of approximately $9.47 billion against the bank's total assets to understand the scale of this specific U.S. equity book.
- Confirm the exchange rate of 1.5181 used for converting GBP-denominated holdings to USD.
- Review the "Included Managers" list to ensure all subsidiary portfolios (Scottish Widows, Lloyds TSB Offshore) are accounted for in the total value.
- Check the specific CUSIPs for large positions (e.g., Exxon Mobil, Apple, Citigroup) to verify share counts against market prices as of the quarter end.
- Note that this filing does not reflect the bank's core lending business, deposit base, or regulatory capital ratios.