SEC Filing Summary: Form 13F-HR
Business Context and Reporting Period
Reporting Manager: Regions Financial Corporation (and associated managers: Regions Bank, Morgan Asset Management, AmSouth Investment Management Co, AmSouth Asset Management Inc).
Reporting Period: Quarter ended March 31, 2007.
Filing Date: May 12, 2007.
Context: This filing is a Form 13F Holdings Report disclosing the equity securities held by the institutional investment manager. The report aggregates holdings across multiple affiliated managers, with Regions Financial Corporation serving as the primary reporting entity for the consolidated data.
Key Financial Metrics
Total Portfolio Value: $9,227,766 (as reported in the summary page; note: this figure appears to be a subset or specific reporting total, as the detailed schedule lists significantly higher aggregate values for major holdings).
Total Number of Holdings: 2,884 entries.
Top Sector Allocations (Based on Schedule Data):
- Financials: Significant holdings in JPMorgan Chase, Bank of America, Wells Fargo, Citigroup, and Regions Financial Corp (own stock).
- Energy: Major positions in Exxon Mobil, Chevron, ConocoPhillips, and Schlumberger.
- Technology: Large allocations to Microsoft, Intel, Cisco Systems, and Hewlett-Packard.
- Healthcare: Substantial holdings in Pfizer, Johnson & Johnson, Eli Lilly, and UnitedHealth Group.
- Consumer Staples: Notable positions in Procter & Gamble, Coca-Cola, and Wal-Mart Stores.
Material Changes
The filing text provided is a static snapshot of holdings as of March 31, 2007. It does not contain comparative data against the prior quarter (December 31, 2006) to calculate specific material changes in share counts or value. Therefore, specific increases or decreases in positions cannot be quantified from this document alone.
Guidance, Outlook, and Risks
Guidance/Outlook: Form 13F filings are historical disclosures of holdings and do not contain forward-looking guidance, earnings outlooks, or management commentary regarding future performance.
Risks/Contingencies: The filing does not disclose specific risk factors or contingencies. However, the portfolio composition indicates exposure to broad market risks, including interest rate sensitivity (due to heavy financial sector weighting) and commodity price volatility (due to significant energy sector exposure).
Unusual Items: The report includes a "13F Notice" for several affiliated managers (Regions Bank, Morgan Asset Management, AmSouth entities), indicating that their specific holdings are reported under the primary Regions Financial Corporation filing rather than separately.
Key Facts for Investor Verification
- Concentration Risk: Verify the concentration in the financial sector, as the manager holds significant positions in major banks (JPMorgan, Bank of America, Wells Fargo) alongside its own stock (Regions Financial).
- Own Stock Position: Confirm the size of the position in Regions Financial Corporation (CUSIP 7591EP100), which appears to be a major holding across multiple reporting entities within the group.
- Portfolio Valuation Discrepancy: Note the discrepancy between the "Form 13F Information Table Value Total" listed on the summary page ($9.2 million) and the aggregate value of the top holdings listed in the schedule (which totals in the billions). Investors should verify if the summary page value represents a specific subset of accounts or if there is a reporting error in the summary total.
- Affiliated Managers: Ensure that holdings attributed to AmSouth and Morgan Asset Management are correctly consolidated under the Regions Financial umbrella for total exposure analysis.