SEC Filing Summary: Form 13F-HR
Business Context and Reporting Period
Reporting Manager: Regions Bank (acting as Institutional Investment Manager for Regions Financial Corp)
Filing Type: Form 13F Holdings Report
Reporting Period: Calendar Year Ended December 31, 2010
Filing Date: February 12, 2011
This filing discloses the equity securities held by Regions Bank at the end of the 2010 fiscal year. The report includes holdings managed under "Defined" authority (typically defined benefit plans) and "Def/Oth" authority (typically defined contribution or other discretionary accounts).
Key Financial Metrics
Note: As a Form 13F, this filing reports portfolio holdings rather than the operating financial performance (revenue, profit, cash flow) of Regions Financial Corp itself.
- Total Portfolio Value: $7,111,472 (in thousands, representing approximately $7.11 billion)
- Total Number of Holdings: 2,033 entries
- Number of Included Managers: 1 (Regions Bank)
- Asset Class: Primarily Common Stock (SH), Preferred Stock (PRN), and Mutual Funds/ETFs (MUT).
Material Changes and Portfolio Composition
The filing provides a snapshot of holdings as of December 31, 2010. It does not provide comparative data against the prior quarter or year to calculate material changes in specific positions. However, the portfolio demonstrates significant diversification across sectors including Financials, Energy, Healthcare, Technology, and Consumer Staples.
Notable Large Positions (by Value):
- Exxon Mobil Corp: ~$217 million (Defined) + ~$83 million (Def/Oth)
- General Electric Co: ~$440 million (Defined) + ~$119 million (Def/Oth)
- Johnson & Johnson: ~$132 million (Defined) + ~$38 million (Def/Oth)
- Procter & Gamble Co: ~$121 million (Defined) + ~$37 million (Def/Oth)
- Regions Financial Corp (Self-Holding): ~$5.6 million (Defined) + ~$4.6 million (Def/Oth)
- SPDR S&P 500 ETF: ~$168 million (Defined) + ~$28 million (Def/Oth)
Guidance, Outlook, and Risks
Guidance and Outlook: The filing text does not contain management commentary, earnings guidance, or future outlook statements. Form 13F is a statutory disclosure of past holdings and does not include forward-looking projections.
Risks and Contingencies: No specific risk factors or contingencies are detailed in this document. The filing represents a static list of securities held at period-end.
Unusual Items: The portfolio includes a significant number of holdings in "Defined" authority, suggesting a large portion of the assets are managed for pension or defined benefit plans. There are also holdings in various mutual funds and ETFs (e.g., iShares, SPDR, Vanguard), indicating a passive investment strategy component.
Key Facts for Investor Verification
- Self-Holding: Verify the size of the bank's own holdings in Regions Financial Corp stock (~$10.2 million total value) to assess insider confidence or plan requirements.
- Concentration Risk: Review the top 10 holdings (e.g., Exxon, GE, J&J, P&G, Microsoft, Verizon) to understand sector concentration, particularly in Energy and Technology.
- Authority Split: Note the distinction between "Defined" and "Def/Oth" voting authority, which may impact how the bank votes on shareholder proposals for these companies.
- Valuation Context: The total value of $7.11 billion represents the market value of these specific equity holdings at year-end 2010, not the total assets of Regions Financial Corp.