SEC Filing Summary: Form 13F-HR
Business Context and Reporting Period
Reporting Manager: Regions Financial Corporation
Filing Type: Form 13F Holdings Report
Reporting Period: Quarter Ended June 30, 2004
Signatory: Ronald C. Jackson, Senior Vice President and Comptroller
Date Signed: August 10, 2004
This filing discloses the equity securities held by Regions Financial Corporation as an institutional investment manager. The report covers 832 distinct holdings entries.
Key Financial Metrics
Total Portfolio Value: $1,584,203,000 (Reported in thousands)
Total Number of Holdings: 832 entries
Top Holdings by Value (Selected):
- Regions Financial Corp (Own Stock): $139,640,000 (Combined Defined and Other authority)
- Exxon Mobil Corp: $69,391,000
- General Electric Co: $55,737,000
- Coca-Cola Co: $74,069,000
- Johnson & Johnson: $28,848,000
- Microsoft Corp: $21,254,000
- Pfizer Inc: $36,441,000
- Procter & Gamble Co: $25,743,000
Note: The filing does not provide data on revenue, profit, cash flow, margins, debt, or liquidity for Regions Financial Corporation itself, as Form 13F is strictly a disclosure of investment holdings.
Material Changes and Portfolio Composition
The filing does not provide comparative data against the prior quarter (March 31, 2004) to calculate material changes in holdings. However, the portfolio composition indicates a diversified strategy with significant exposure to:
- Financials: Heavy concentration in banking and insurance (e.g., Citigroup, Bank of America, American International Group, Regions Financial).
- Energy: Significant positions in major oil and gas producers (e.g., Exxon Mobil, Chevron Texaco, Conoco/Phillips).
- Technology: Substantial holdings in large-cap tech (e.g., Microsoft, Intel, Cisco Systems, IBM).
- Consumer Staples: Major positions in consumer goods (e.g., Coca-Cola, P&G, PepsiCo, Colgate-Palmolive).
The manager reports voting authority split between "Sole," "Shared," and "None" across various positions, with a mix of "Defined" and "Other" investment discretion.
Guidance, Outlook, and Risks
Guidance and Outlook: Not applicable. Form 13F is a historical disclosure of holdings and does not contain forward-looking guidance, management commentary, or strategic outlook.
Risks and Contingencies: The filing does not disclose specific risk factors or contingencies. The primary risk inherent in this filing is the concentration of assets in large-cap equities and the potential for market volatility affecting the reported portfolio value of approximately $1.58 billion.
Investor Verification Checklist
- Own Stock Holdings: Verify the total value of Regions Financial Corporation's own stock held ($139.6M) to assess insider confidence or treasury management strategies.
- Concentration Risk: Review the top 10 holdings to determine if the portfolio is overly concentrated in specific sectors (e.g., Energy or Financials) relative to the total $1.58B portfolio.
- Voting Authority: Note the split between "Sole" and "Shared" voting authority, which may indicate the extent of the manager's control over corporate governance in these positions.
- Comparison to 10-Q: Cross-reference this equity portfolio with the company's 10-Q filing for the same period to understand how these investments fit into the broader balance sheet and capital allocation.