SEC Filing Summary: Form 13F Information Table
Business Context and Reporting Period
Company: Regions Financial Corp
Filing Type: Form 13F Information Table (Quarterly Report of Holdings)
Reporting Period: Ended March 31, 2016
Context: This filing discloses the equity securities held by Regions Financial Corp as a registered investment manager. The data reflects holdings across various accounts, categorized by voting authority (Sole, Shared, None) and investment discretion (Discretionary, Non-Discretionary, Other).
Key Financial Metrics and Holdings
Note: Form 13F filings report holdings by share count and value, not corporate financial performance metrics such as revenue, profit, or cash flow.
- Portfolio Composition: The portfolio is heavily diversified across sectors including Financials, Technology, Healthcare, Energy, and Consumer Staples.
- Top Holdings by Value (Selected Examples):
- General Electric Co: ~3.2 million shares (Value: ~$3.2M in one category, total aggregate significantly higher across categories).
- Exxon Mobil Corp: ~1.7 million shares.
- Wells Fargo & Co: ~1.8 million shares.
- Verizon Communications: ~1.7 million shares.
- Regions Financial Corp (Self-Holding): ~2.8 million shares held in discretionary accounts.
- Investment Discretion: The majority of holdings are reported under "Discretionary" (DFND) management, indicating Regions Financial Corp manages these assets for clients or proprietary accounts with full decision-making authority.
- Derivatives: The filing includes limited positions in Call options (e.g., AT&T, Applied Materials) and Put options (e.g., Applied Materials), though the volume is relatively small compared to long equity positions.
Material Changes
The filing text provided is a static snapshot of holdings as of March 31, 2016. It does not contain comparative data from the prior quarter (December 31, 2015) or year-over-year figures. Therefore, specific material changes in position size or value cannot be calculated from this document alone.
Guidance, Outlook, and Risks
Guidance and Outlook: Not applicable. Form 13F is a regulatory disclosure of past holdings and does not contain forward-looking statements, earnings guidance, or management commentary on future strategy.
Risks and Contingencies:
- Concentration Risk: Significant exposure to large-cap financial institutions (e.g., JPMorgan Chase, Bank of America, Wells Fargo) and energy sector companies (e.g., Exxon Mobil, Chevron, ConocoPhillips).
- Market Risk: As a diversified equity portfolio, the holdings are subject to general market volatility.
- Regulatory Disclosure: The filing includes a standard disclaimer that the SEC has not reviewed the information for accuracy or completeness.
Important Facts for Investor Verification
- Self-Holding: Verify the specific share count of Regions Financial Corp stock held by the company itself (~2.8 million shares in discretionary accounts) to assess insider confidence or treasury management.
- Client vs. Proprietary: The filing aggregates holdings across different accounts. Investors should verify if the reported values represent client assets under management (AUM) or proprietary capital, as this impacts the interpretation of the company's own financial exposure.
- Valuation Basis: The "Value" column represents the approximate market value at the end of the quarter. This is not an accounting book value and may differ from the cost basis.
- Missing Data: This filing does not provide data on debt levels, liquidity ratios, or operating margins for Regions Financial Corp. Those metrics must be sourced from the company's 10-Q or 10-K filings.