PFG

SEC Filing Summary: Form 13F-HR

Business Context and Reporting Period

Reporting Manager: Principal Financial Group, Inc.
Reporting Period: Calendar Year Ended December 31, 2004
Filing Date: February 14, 2005
Scope: This report discloses equity holdings for Principal Financial Group, Inc. and four other included managers: Principal Global Investors, LLC; Principal Real Estate Investors, LLC; Principal Life Insurance Co; and Principal Financial Services, Inc.

Key Financial Metrics

Note: As a Form 13F, this filing reports portfolio holdings rather than the operating financial results (revenue, profit, cash flow) of the reporting manager itself.

• Total Portfolio Value: $16,003,153,000 (Reported as $16,003,153 in thousands).
• Total Number of Holdings: 1,973 distinct entries.
• Top 5 Holdings by Share Count:
  1. General Electric Co.: 8,218,256 shares
  2. Microsoft Corp.: 7,246,647 shares
  3. Exxon Mobil Corp.: 5,461,132 shares
  4. Johnson & Johnson: 1,972,831 shares
  5. Wal-Mart Stores, Inc.: 2,835,676 shares
• Top 5 Holdings by Share Count (Continued):
  1. Verizon Communications: 2,550,631 shares

Material Changes vs. Prior Period

The filing text provided does not contain comparative data from the prior quarter (September 30, 2004). Consequently, material changes in holdings, buy/sell activity, or portfolio value trends cannot be determined from this document alone.

Guidance, Outlook, and Risks

Guidance and Outlook: Form 13F filings are historical disclosures of holdings and do not contain forward-looking guidance, management commentary, or earnings outlooks.
Risks and Contingencies: No specific risk factors or contingencies are disclosed in this form. The filing represents a snapshot of long-only equity positions and certain convertible securities as of the period end.

Investor Verification Checklist

• Portfolio Concentration: Verify the percentage of the total portfolio represented by the top 10 holdings (e.g., General Electric, Microsoft, Exxon Mobil) to assess concentration risk.
• Manager Attribution: Confirm which of the five included managers (Principal Financial Group, Principal Global Investors, etc.) holds specific positions, as voting authority is listed as "Defined" for most entries.
• Valuation Basis: Note that values are reported in thousands; ensure calculations for total asset value account for the $1,000 multiplier.
• Non-Reporting Assets: Acknowledge that this filing excludes fixed income, derivatives, cash, and short positions, representing only a portion of the firm's total assets under management.