Business Context and Reporting Period
This filing is a Form 13F Information Table submitted by Tompkins Financial Corp for the reporting period ending June 30, 2020. The document discloses the company's holdings of equity securities, including common stocks and exchange-traded funds (ETFs), as required by the Securities and Exchange Commission. It does not contain financial performance data (revenue, profit, cash flow) for Tompkins Financial Corp itself, but rather details its investment portfolio.
Key Financial Metrics and Portfolio Composition
The filing lists the value of securities held in thousands of dollars. The portfolio is diversified across individual equities and various ETFs.
- Top Individual Equity Holdings (Value in $000s):
- Cisco Systems Inc: $143,384
- Exxon Mobil Corp: $107,339
- Microsoft Corp: $111,445
- Verizon Communications Inc: $113,445
- Apple Inc: $65,182
- Abbott Laboratories: $60,928
- JPMorgan Chase & Co: $61,482
- Walmart Inc: $55,958
- Duke Energy Corp: $57,843
- Home Depot Inc: $28,354
- Top ETF Holdings (Value in $000s):
- WisdomTree TR EM Ex St-Owned: $672,628
- Goldman Sachs ETF Tr ActiveBeta Int: $446,988
- Invesco Exchange-Traded Fd T S&P 500 Revenue: $441,558
- Ishares TR MSCI Min Vol ETF: $357,603
- Ishares Inc Core MSCI EMKT: $203,460
- Vanguard Tax-Managed Fds FTSE Dev Mkt: $205,656
- Self-Holding: Tompkins Financial Corp holds 26,063 shares of its own stock valued at $402,392 (in thousands).
Material Changes and Voting Authority
The filing provides a snapshot of holdings as of June 30, 2020, and does not explicitly state percentage changes from the prior quarter within the text provided. However, it details the voting authority for each position:
- Sole Discretion: The vast majority of holdings are managed with sole voting discretion.
- Shared Discretion: A small number of positions (e.g., Accenture, Alphabet, Amazon) have shared voting authority.
- None: Some positions, primarily certain ETFs and specific equity blocks, have no voting authority reported.
Guidance, Outlook, and Risks
Management Commentary and Guidance: This filing type (Form 13F) does not contain management commentary, forward-looking guidance, or strategic outlook for Tompkins Financial Corp's banking operations.
Risks and Contingencies: The filing includes a standard SEC disclaimer stating that the Commission has not reviewed the information for accuracy or completeness. No specific operational risks or contingencies are detailed in this document.
Important Facts for Investor Verification
- Portfolio Concentration: Verify the concentration risk in the top 10 holdings, which include significant positions in technology (Cisco, Microsoft, Apple) and energy (Exxon Mobil).
- ETF Exposure: Note the substantial allocation to international and emerging market ETFs (e.g., WisdomTree, iShares MSCI EMKT), which may introduce currency and geopolitical risks.
- Self-Holding: Confirm the impact of the $402 million holding of Tompkins Financial Corp's own stock on the company's balance sheet and capital adequacy.
- Valuation Basis: All values are reported in thousands; ensure calculations account for this scaling when aggregating total portfolio value.
- Reporting Lag: Form 13F filings are submitted 45 days after the quarter end; this data reflects the portfolio status as of June 30, 2020, not current market conditions.