SEC Filing Summary: Form 13F Information Table
Business Context and Reporting Period
Company: Tompkins Financial Corp
Filing Type: Form 13F Information Table (Schedule 13F)
Reporting Period: Quarter ended March 31, 2018
Context: This filing discloses the equity securities held by Tompkins Financial Corp as of the end of the first quarter of 2018. As a Form 13F, this document details investment holdings rather than the company's own operational financial performance (revenue, profit, etc.).
Key Financial Metrics and Holdings
The filing provides a comprehensive list of equity holdings, including common stocks, preferred stocks, and exchange-traded funds (ETFs). Key metrics derived from the table include:
- Total Portfolio Value: The filing lists individual positions with values in thousands of dollars. The aggregate value of the reported portfolio is substantial, with significant allocations to large-cap equities and diversified ETFs.
- Top Holdings by Value (Selected):
- Tompkins Financial Corp: 465,563 shares (Value: $35,271,000)
- Apple Inc: 65,247 shares (Value: $10,947,000)
- Microsoft Corp: 97,479 shares (Value: $8,897,000)
- Exxon Mobil Corp: 79,206 shares (Value: $5,909,000)
- Johnson & Johnson: 46,202 shares (Value: $5,921,000)
- Verizon Communications Inc: 78,601 shares (Value: $3,758,000)
- Significant ETF Exposure: The portfolio includes heavy allocations to index funds, including iShares Core S&P Mid-Cap ETF (72,137 shares), Vanguard FTSE Europe ETF (344,100 shares), and Oppenheimer ETF Trust Large Cap Rev (355,229 shares).
- Voting Authority: The majority of holdings are reported with "Sole" voting authority. A portion of holdings (e.g., Tompkins Financial Corp, Apple, Microsoft) are reported with "Shared" or "None" voting authority, indicating positions held in managed accounts or by other parties.
Material Changes and Observations
Note: As this is a single-period snapshot (Q1 2018), the filing text does not provide comparative data against the prior period (Q4 2017) to calculate material changes in holdings or values. Investors must compare this table with the previous 13F filing to identify buys, sells, or changes in voting authority.
- Self-Holding: Tompkins Financial Corp holds a significant position in its own stock (465,563 shares), which is a common practice for financial institutions managing their own capital or employee benefit plans.
- Diversification: The portfolio is highly diversified across sectors including Technology, Healthcare, Financials, Energy, and Consumer Staples, with a mix of individual stocks and broad-market ETFs.
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: While diversified, there are significant concentrations in specific large-cap technology and healthcare stocks.
- Regulatory Disclaimer: The filing includes a standard SEC disclaimer stating that the Commission has not reviewed the information for accuracy or completeness.
Important Facts for Investor Verification
- Self-Ownership: Verify the rationale and size of the 465,563 share position in Tompkins Financial Corp itself.
- Portfolio Composition: Confirm the total aggregate value of the portfolio by summing the "Value" column (in thousands) to understand the total assets under management or investment.
- Voting Rights: Review the "Voting Authority" columns to distinguish between shares the company controls directly ("Sole") versus those where authority is shared or none ("Shared"/"None").
- Comparative Analysis: Retrieve the Q4 2017 13F filing to determine if the holdings listed above represent new purchases, sales, or maintained positions.
- ETF Holdings: Note the significant reliance on ETFs (e.g., iShares, Vanguard, Oppenheimer) which may indicate a passive investment strategy for a portion of the portfolio.