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: Quarter ended June 30, 2009
Filing Date: August 12, 2009
Signatory: James E. Meigs, Executive Vice President
This filing discloses the equity securities held by Regions Bank at the end of the second quarter of 2009. The report includes holdings for the primary manager and one other included manager (Regions Bank, File No. 085-00829).
Key Financial Metrics
Total Portfolio Value: $5,656,035 (as reported in the Summary Page; values in the table are in thousands)
Total Number of Holdings: 1,954 entries
Top Holdings by Value (Selected):
- Exxon Mobil Corp: $162,135,000 (Defined) + $67,232,000 (Discretionary/Other)
- Johnson & Johnson: $84,726,000 (Defined) + $25,526,000 (Discretionary/Other)
- Procter & Gamble Co: $70,612,000 (Defined) + $22,788,000 (Discretionary/Other)
- Microsoft Corp: $63,421,000 (Defined) + $14,847,000 (Discretionary/Other)
- Intel Corp: $60,090,000 (Defined) + $11,615,000 (Discretionary/Other)
- Regions Financial Corp (Self-Holding): $30,050,000 (Defined) + $21,790,000 (Discretionary/Other)
Debt and Liquidity: Not applicable. Form 13F reports only equity securities and does not disclose corporate debt, cash flow, or liquidity metrics.
Material Changes
Comparison to Prior Period: The filing text provided does not contain data for the prior quarter (March 31, 2009). Therefore, material changes in holdings, additions, or deletions cannot be calculated from this document alone.
Portfolio Composition: The portfolio is heavily weighted toward large-cap U.S. equities, with significant exposure to the Energy, Healthcare, Technology, and Consumer Staples sectors. The manager holds substantial positions in both "Defined" (sole voting authority) and "Discretionary/Other" (shared voting authority) categories.
Guidance, Outlook, and Risks
Management Commentary: None. Form 13F is a statutory disclosure of holdings and does not include management discussion, financial guidance, or forward-looking statements.
Risks and Contingencies: None disclosed in this filing. The form does not address operational risks, market risks, or legal contingencies.
Unusual Items: The filing includes a significant number of holdings in Exchange Traded Funds (ETFs) and Mutual Funds (e.g., iShares, SPDR, Vanguard), indicating a diversified passive investment strategy alongside active stock picking.
Investor Verification Checklist
- Self-Holding Verification: Confirm the size of the $51.8 million position in Regions Financial Corp (the parent company) to assess insider confidence or internal fund allocation.
- Concentration Risk: Verify the top 10 holdings to ensure they do not exceed internal risk limits, given the heavy weighting in Energy (Exxon, Chevron, ConocoPhillips) and Healthcare (J&J, Pfizer, Merck).
- Voting Authority: Review the split between "Sole" and "Shared" voting authority to understand the manager's control over the reported assets.
- Valuation Context: Note that the total reported value ($5.6 million in the summary header) appears to be a discrepancy or a specific subset, as the sum of individual line items in the table (in thousands) totals significantly higher (over $1 billion). Investors should verify if the summary page value represents a specific fund or if there is a reporting error in the summary header versus the detailed table.