SEC Filing Summary: Form 13F Information Table
Business Context and Reporting Period
Company: Bank OZK (Reporting Manager)
Filing Type: Form 13F Information Table
Reporting Period: Quarter ended December 31, 2016
Context: This filing discloses the equity securities held by Bank OZK as of the end of the reporting period. It details the issuer, class of security, CUSIP, value, and voting authority for each holding. The filing does not contain operational financial statements (revenue, profit, cash flow) for Bank OZK itself, but rather a snapshot of its investment portfolio.
Key Financial Metrics and Portfolio Composition
The filing provides a list of holdings with values reported in thousands of dollars. Key portfolio characteristics include:
- Top Holding by Value: Bank of the Ozarks Inc (Own Stock) - $2,294,006 (Sole Discretion) + $106,387 (Other Discretion).
- Significant External Holdings:
- AT&T Inc: $119,243 (Sole) + $27,525 (Other)
- Applied Materials Inc: $44,465 (Sole) + $3,817 (Other)
- Altria Group Inc: $44,732 (Sole) + $3,205 (Other)
- Exxon Mobil Corp: $43,384 (Sole) + $11,293 (Other)
- General Electric Co: $72,048 (Sole) + $29,014 (Other)
- Asset Classes: The portfolio consists primarily of common stocks (SH) and Exchange Traded Funds (ETFs), including iShares and PowerShares trusts.
- Voting Authority: Most holdings are reported under "Sole" voting authority, with some positions split between "Sole" and "Other" (shared) authority.
Material Changes and Unusual Items
Comparison to Prior Period: The provided text contains only the data for the quarter ended December 31, 2016. It does not include the prior quarter's data or a summary of changes (purchases/sales) required for a period-over-period analysis. Therefore, material changes cannot be calculated from this source text alone.
Unusual Items:
- Concentration in Own Stock: The largest single position is Bank of the Ozarks Inc (the reporting company itself), valued at approximately $2.4 million. This is a common practice for bank holding companies but represents a significant concentration.
- Large "Other" Discretion Positions: Several holdings, such as Murphy Oil Corp ($782,368) and Murphy USA Inc ($194,692), have substantial portions reported under "Other" voting authority, indicating shared management or specific account structures.
Guidance, Outlook, and Risks
Management Commentary: The filing text does not contain management commentary, forward-looking guidance, or an outlook on future performance.
Risks and Contingencies:
- Market Risk: The portfolio is exposed to general equity market fluctuations across various sectors including Technology, Energy, Healthcare, and Financials.
- Liquidity: While most holdings are liquid public equities, the filing does not provide specific liquidity metrics or cash flow data for the reporting entity.
- Regulatory Disclaimer: The filing includes a standard SEC disclaimer stating that the Commission has not reviewed the information for accuracy or completeness.
Investor Verification Checklist
- Verify the total aggregate value of the portfolio by summing the "Value" column (Column 4) to assess total asset exposure.
- Confirm the proportion of the portfolio held in the company's own stock (Bank of the Ozarks Inc) versus external equities.
- Review the "Other" voting authority columns to understand the extent of shared control or third-party managed assets within the portfolio.
- Compare this list against the prior quarter's Form 13F (not included in this text) to identify significant buy/sell activity.
- Check for any holdings in distressed sectors or high-volatility assets that may impact the bank's capital adequacy.