Business Context and Reporting Period
Reporting Manager: Prudential Financial, Inc.
Filing Type: Form 13F-HR (Holdings Report)
Reporting Period: Calendar Year Ended December 31, 2004
Submission Date: February 11, 2005
Scope: This report details the long-only equity securities held by Prudential Financial, Inc. and four included managers (Prudential Investment Management, Inc.; Prudential Investment Management Services, LLC; Prudential Equity Group, Inc.; and Quantitative Management Associates). The report covers 2,693 individual security positions.
Key Financial Metrics
Total Portfolio Value: $37,021,237,000
Total Number of Positions: 2,693
Number of Included Managers: 4
Note: As a Form 13F filing, this document reports holdings of equity securities and does not provide revenue, profit, cash flow, margin, debt, or liquidity metrics for Prudential Financial, Inc. itself. It reflects the investment portfolio managed by the firm.
Top Holdings by Value (Selected)
| Issuer | Shares Held | Value ($000s) |
|---|---|---|
| General Electric Co | 26,587,775 | 2,778,130 |
| Microsoft Corp | 30,436,618 | 3,226,078 |
| Time Warner Inc | 14,480,213 | 1,556,081 |
| Verizon Communications | 8,565,116 | 900,541 |
| Wal-Mart Stores Inc | 11,688,570 | 1,235,897 |
| Exxon Mobil Corp | 18,106,101 | 1,881,586 |
| Johnson & Johnson | 8,325,924 | 885,135 |
| Intel Corp | 19,037,627 | 2,020,382 |
| Cisco Systems Inc | 19,961,855 | 2,131,355 |
| Home Depot Inc | 6,411,318 | 683,131 |
Material Changes
The filing text provides a snapshot of holdings as of December 31, 2004. It does not contain comparative data for the prior quarter or year, nor does it explicitly list purchases or sales activity. Therefore, material changes versus the prior comparable period cannot be determined from this document alone.
Guidance, Outlook, and Risks
Guidance and Outlook: Not applicable. Form 13F filings are historical reports of holdings and do not contain management commentary, earnings guidance, or future outlooks.
Risks and Contingencies: Not applicable. This filing does not disclose operational risks, legal contingencies, or unusual items affecting the reporting manager's financial condition.
Unusual Items: The portfolio includes a diverse range of sectors including Technology, Financials, Healthcare, and Energy. The report includes holdings in both domestic and international securities (e.g., ADRs for companies like Petrobras and Tata Motors).
Important Facts for Investor Verification
- Portfolio Concentration: The top 10 holdings listed above represent a significant portion of the total $37 billion portfolio, indicating a concentration in large-cap U.S. equities.
- Managerial Structure: The report aggregates holdings across four distinct management subsidiaries, suggesting a diversified internal management structure.
- Reporting Limitations: This document only reports long positions in equity securities. It does not disclose short positions, derivatives, fixed income holdings, or cash positions.
- Valuation Basis: Values are reported in thousands of dollars based on the market price at the end of the reporting period (Dec 31, 2004).
- Signatory Authority: The report was signed by Frank P. Adamo, Second Vice President, on behalf of Prudential Financial, Inc.