SEC Filing Summary: Principal Financial Group Inc. (Form 13F)
Business Context and Reporting Period
This filing is a Form 13F Information Table submitted by Principal Financial Group Inc. for the reporting period ending September 30, 2015. The document discloses the company's holdings in equity securities (stocks, common shares, and limited partnership interests) as of the end of the quarter. It serves as a regulatory disclosure of investment positions rather than a report on the company's own operational financial performance.
Key Financial Metrics and Portfolio Composition
The filing details a diversified portfolio of equity securities. While the document does not provide a single aggregate market value for the entire portfolio in the text provided, it lists individual positions with their respective share counts and values (in thousands). Key observations include:
- Top Holdings by Share Count: Significant positions include General Electric Co. (15,238,090 shares), Microsoft Corp. (13,768,967 shares), Wells Fargo & Co. (12,000,089 shares), and Bank of America Corp. (13,628,926 shares).
- Top Holdings by Value: Major value positions include Apple Inc. (approx. $9.2 billion), Microsoft Corp. (approx. $14.2 billion), General Electric Co. (approx. $15.5 billion), and Wells Fargo & Co. (approx. $12.2 billion).
- Asset Classes: The portfolio consists primarily of common stock ("COM") and limited partnership interests ("LTDPT"). There are no reported holdings in put or call options in the provided data.
- Voting Authority: The vast majority of holdings are reported with "Sole" voting authority (Column 8), indicating Principal Financial Group has full discretion over voting rights for these securities.
Material Changes and Portfolio Activity
The filing lists holdings as of the period end. It does not explicitly state the net change in value or share count compared to the prior quarter (June 30, 2015) within the text provided. However, the presence of specific share counts allows for comparison against prior filings to determine buying or selling activity. The portfolio demonstrates a heavy concentration in large-cap U.S. equities across financials, technology, healthcare, and consumer discretionary sectors.
Guidance, Outlook, and Risks
Guidance and Outlook: This Form 13F filing does not contain management commentary, earnings guidance, or future outlook for Principal Financial Group Inc. It is a static snapshot of holdings.
Risks and Contingencies: The filing includes a standard disclaimer stating that the SEC has not reviewed the information for accuracy or completeness. The primary risk inherent in this data is the concentration in specific sectors (e.g., Financials and Technology) and individual large-cap issuers, which exposes the portfolio to sector-specific volatility.
Important Facts for Investor Verification
- Reporting Entity: Verify that the holdings belong to Principal Financial Group Inc. and not a subsidiary or separate fund, though the form lists the parent company.
- Valuation Date: Confirm that the share counts and values reflect the market price as of September 30, 2015.
- Top Concentrations: Note the significant exposure to General Electric, Microsoft, Wells Fargo, and Apple, which represent a substantial portion of the disclosed equity portfolio.
- Discretionary Authority: Confirm that the "Sole" voting authority designation applies to the majority of the portfolio, indicating direct control over these investments.
- Missing Data: The filing text does not provide the total aggregate market value of the entire portfolio; this must be calculated by summing the individual position values or referenced in the summary section of the original filing (not fully provided in the text input).