SEC Filing Summary: Form 13F-HR
Business Context and Reporting Period
Reporting Manager: Regions Bank (Institutional Investment Manager)
Filing Type: Form 13F Holdings Report
Reporting Period: Quarter ended June 30, 2011
Submission Date: August 12, 2011
Signatory: James E. Meigs, Executive Vice President
This filing discloses the equity securities held by Regions Bank at the end of the second quarter of 2011. The report includes holdings managed directly by Regions Bank and one other included manager (also Regions Bank, File No. 085-00829).
Key Financial Metrics
Total Portfolio Value: $6,938,784 (in thousands, representing approximately $6.94 billion)
Total Number of Holdings: 1,893 entries
Top Holdings by Value (Selected):
- Exxon Mobil Corp: $275,428,000 (Combined Defined & Discretionary)
- Johnson & Johnson: $111,502,000
- Procter & Gamble Co: $93,591,000
- Verizon Communications: $89,849,000
- Microsoft Corp: $79,760,000
- Regions Financial Corp (Self-Holding): $57,141,000
Note: Values are derived from the "Value" column in the information table, which is reported in thousands.
Material Changes and Portfolio Composition
Portfolio Concentration: The portfolio is heavily weighted toward large-cap U.S. equities, with significant exposure to the Energy, Healthcare, Technology, and Financial sectors. The manager holds substantial positions in major index constituents such as Exxon Mobil, Johnson & Johnson, and Procter & Gamble.
Self-Holding: Regions Bank maintains a significant position in its parent company, Regions Financial Corp, holding over 9.2 million shares with a combined value of approximately $57.1 million.
Comparison to Prior Period: As this is a quarterly snapshot, specific quantitative changes (buy/sell activity) compared to the prior quarter (Q1 2011) cannot be calculated from this document alone. However, the filing represents the aggregate holdings as of June 30, 2011.
Guidance, Risks, and Contingencies
Management Commentary: Form 13F filings are statutory disclosures of holdings and do not contain management commentary, forward-looking guidance, or strategic outlooks.
Risks and Contingencies: The filing does not disclose specific risk factors or contingencies. The portfolio composition indicates exposure to market volatility, sector-specific risks (particularly in Energy and Financials), and interest rate sensitivity inherent in the holdings.
Unusual Items: The portfolio includes a diverse mix of common stocks, preferred stocks, and partnership interests. There are no unusual items or restatements indicated in this filing.
Key Facts for Investor Verification
- Total AUM Disclosed: Verify the total value of $6.94 billion against the bank's broader asset management capabilities.
- Top 10 Concentration: Assess the concentration risk by calculating the percentage of the portfolio held in the top 10 issuers (e.g., Exxon, J&J, P&G, Verizon, Microsoft).
- Self-Ownership: Confirm the size of the bank's own stake in Regions Financial Corp relative to its total equity portfolio.
- Sector Allocation: Analyze the weight of the Energy sector (e.g., Exxon, Chevron, ConocoPhillips) given the 2011 market context.
- Reporting Accuracy: Ensure the 1,893 entries align with the bank's reported investment strategy and mandate.