SEC Filing Summary: Form 13F Information Table
Business Context and Reporting Period
Company: Tompkins Financial Corp
Filing Type: Form 13F Information Table (Statement of Holdings)
Reporting Period: Quarter ended December 31, 2023
Context: This filing discloses the equity securities held by Tompkins Financial Corp at the end of the reporting period. As a Form 13F, it details the portfolio composition of the institution's investment activities, including shares held with sole voting power, shared voting power, or disclaimed voting power.
Key Financial Metrics and Portfolio Composition
Portfolio Overview: The filing lists a diversified portfolio of common stocks, exchange-traded funds (ETFs), and preferred securities. The data provides the number of shares held and the aggregate market value for each position.
- Top Holdings by Value (Selected):
- Tompkins Financial Corp (Self-Held): 1,181,017 shares (712,336 Disclaimed / 468,681 Sole) valued at approximately $71.1 million.
- Apple Inc: 212,833 shares valued at approximately $37.5 million.
- Microsoft Corp: 111,312 shares valued at approximately $32.9 million.
- Alphabet Inc (Class A): 72,242 shares valued at approximately $9.8 million.
- Amazon.com Inc: 71,576 shares valued at approximately $10.5 million.
- Significant ETF Exposure: The portfolio includes substantial holdings in BlackRock (iShares), Vanguard, and State Street (SPDR) ETFs, covering broad market indices (S&P 500, Total Stock Market), sector-specific funds (Technology, Healthcare, Energy), and fixed income strategies.
- Voting Authority: The filing distinguishes between "Sole" voting authority (managed directly by Tompkins) and "Discretionary" (DFND) authority (managed by an external advisor). A significant portion of the portfolio, particularly in large-cap equities and ETFs, is held with discretionary voting authority.
Material Changes and Observations
Note on Comparability: As this is a static snapshot of holdings as of December 31, 2023, the filing text does not provide comparative data against the prior quarter (September 30, 2023). Therefore, specific material changes in position size or value cannot be calculated from this document alone.
Portfolio Characteristics:
- Concentration: The portfolio shows a heavy concentration in large-cap U.S. equities and broad-market ETFs.
- Self-Holding: Tompkins Financial Corp holds a significant position in its own common stock, split between sole and disclaimed voting authority.
- Asset Class: The holdings are almost exclusively equity securities and equity-linked ETFs. There is no data provided regarding the company's own operating revenue, profit, cash flow, or debt levels, as this is a portfolio disclosure, not an operating earnings report.
Guidance, Outlook, and Risks
Management Commentary: Form 13F filings do not contain management commentary, forward-looking guidance, or strategic outlooks. They are strictly regulatory disclosures of holdings.
Risks and Contingencies:
- Market Risk: The portfolio is exposed to general equity market volatility.
- Concentration Risk: Significant exposure to the Technology and Financial sectors through both direct stock holdings and sector ETFs.
- Regulatory Disclaimer: The filing includes a standard SEC disclaimer stating that the Commission has not reviewed the information for accuracy or completeness.
Key Facts for Investor Verification
- Self-Holding Structure: Verify the rationale behind holding 1.18 million shares of Tompkins Financial Corp stock, specifically the split between sole and disclaimed voting authority.
- External Management: Confirm the identity of the external investment advisor managing the "Discretionary" (DFND) portion of the portfolio, which represents a large segment of the holdings.
- ETF Strategy: Review the specific ETF tickers to understand the passive investment strategy and sector tilts (e.g., heavy weighting in Technology and Large-Cap Growth).
- Valuation Basis: Note that the "Value" column represents the aggregate market value at the end of the quarter; current values will differ based on market movements since December 31, 2023.