SEC Filing Summary: Genworth Financial, Inc. (Form 13F-HR)
Business Context and Reporting Period
This filing is a Form 13F Holdings Report submitted by Genworth Financial, Inc., an institutional investment manager, for the quarter ended September 30, 2006. The report was signed on November 1, 2006, by Patricia Merrill, Senior Counsel. The filing covers the investment portfolio managed by Genworth Financial, Inc. and includes one other included manager: Genworth Financial Asset Management, Inc. (formerly GE Private Asset Management, Inc.).
Key Financial Metrics
As a Form 13F filing, this document reports equity holdings rather than the operating financial performance (revenue, profit, cash flow) of Genworth Financial itself. The following metrics reflect the reported portfolio:
- Total Portfolio Value: $2,126,077,000 (approx. $2.13 billion).
- Total Number of Holdings: 570 lines of securities.
- Top Holdings by Value:
- United Microelectronics: $1,894,616,000
- CGI Group Inc: $1,721,688,000
- Lucent Technologies: $1,361,132,000
- Mitsubishi UFJ Fin Group: $1,023,482,000
- Templeton Emerging Mrks Income Fund: $966,754,000
- Debt and Liquidity: Not applicable. This form does not report the filer's corporate debt or liquidity positions.
Material Changes and Portfolio Composition
The filing provides a snapshot of holdings as of the period end. It does not contain comparative data against the prior quarter to determine material changes in position size or strategy. The portfolio is heavily diversified across sectors, with significant exposure to:
- Technology: Large positions in Lucent Technologies, CGI Group, and United Microelectronics.
- Financials: Significant holdings in Mitsubishi UFJ, ING Groep, and various municipal bond funds.
- Consumer Staples and Discretionary: Holdings in McDonald's, PepsiCo, Nike, and Home Depot.
- International Exposure: Substantial investment in ADRs and foreign entities, including Salomon Brothers Emerging Markets funds and various Asian and European corporations.
Guidance, Outlook, and Risks
Guidance and Outlook: This filing type does not contain management commentary, earnings guidance, or strategic outlook for Genworth Financial, Inc.
Risks and Contingencies: The filing does not disclose specific risk factors or contingencies. However, the concentration of value in specific large-cap international stocks and emerging market funds implies exposure to currency fluctuations and foreign market volatility.
Unusual Items: The portfolio includes a mix of common stocks, preferred shares, and closed-end funds. Notable is the very large position in United Microelectronics and CGI Group relative to the total portfolio size.
Investor Verification Checklist
- Verify the total portfolio value of $2.13 billion against the company's total assets under management (AUM) to understand the scope of this specific report.
- Confirm the relationship between Genworth Financial, Inc. and the included manager, Genworth Financial Asset Management, Inc., to ensure no double-counting of assets.
- Review the top 5 holdings (United Microelectronics, CGI Group, Lucent Technologies, Mitsubishi UFJ, Templeton Emerging Markets) to assess concentration risk.
- Note that this document does not reflect Genworth Financial's own insurance or financial services operating results; those are found in 10-Q or 10-K filings.
- Check for subsequent filings to track changes in the large positions in emerging market funds and technology stocks.