SEC Filing Summary: Form 13F-HR
Business Context and Reporting Period
Reporting Manager: Principal Financial Group, Inc.
Reporting Period: Quarter ended March 31, 2008
Filing Date: May 07, 2008
Report Type: 13F Combination Report (includes holdings for Principal Financial Group and four other affiliated managers).
Scope: Disclosure of equity securities held for discretionary accounts.
Key Financial Metrics
Note: Form 13F reports holdings value, not operating financials (revenue, profit, cash flow).
- Total Value of Reported Holdings: $24,103,319,000 (approx. $24.1 billion).
- Total Number of Holdings: 1,905 entries.
- Number of Included Managers: 5 (Principal Financial Group plus 4 affiliates).
- Debt/Liquidity: Not reported in this filing type.
Material Changes and Portfolio Composition
This filing represents a snapshot of long-only equity positions as of March 31, 2008. The portfolio is heavily diversified across sectors, with significant concentrations in:
- Financials: Major holdings include Wells Fargo & Co ($3.36B), Bank of America Corp ($4.68B), Citigroup Inc ($5.15B), and JPMorgan Chase & Co ($4.09B).
- Technology: Significant positions in Microsoft Corp ($8.74B), Intel Corp ($4.92B), Cisco Systems Inc ($5.97B), and Oracle Corp ($4.50B).
- Healthcare: Large allocations to Pfizer Inc ($8.38B), Johnson & Johnson ($2.76B), and Merck & Co Inc ($2.91B).
- Energy: Notable holdings in Exxon Mobil Corp ($6.56B) and Chevron Corp ($2.66B).
Comparison to Prior Period: The filing text provided does not contain data for the prior quarter (December 31, 2007); therefore, material changes in position size or new/removed holdings cannot be calculated from this document alone.
Guidance, Outlook, and Risks
Management Commentary: None. Form 13F is a regulatory disclosure of holdings and does not contain management discussion, guidance, or outlook.
Risks and Contingencies: Not applicable to this filing type. The filing represents a static list of securities held at the end of the quarter.
Investor Verification Checklist
- Affiliated Managers: Verify the specific holdings attributable to Principal Financial Group versus its affiliates (Principal Global Investors, Principal Real Estate Investors, Principal Life Insurance Co., and Principal Financial Services) as the $24.1B total is an aggregate.
- Valuation Timing: Confirm that the reported values reflect market prices as of March 31, 2008, which may differ significantly from current market values given the 2008 financial crisis context.
- Discretionary Authority: Note that the report covers only securities where the manager has sole or shared discretionary authority; non-discretionary accounts are excluded.
- Derivatives: This filing lists only long equity positions; it does not disclose short positions, options, or other derivatives held by the manager.