SEC Filing Summary: Tompkins Financial Corp (13F-HR)
Business Context and Reporting Period
This Form 13F-HR filing reports the investment holdings of Tompkins Financial Corp as of the period ending September 30, 2012. As a registered investment adviser, Tompkins Financial Corp discloses its equity securities holdings, including common stocks and exchange-traded funds (ETFs), categorized by voting authority (Sole, Shared, or None).
Key Financial Metrics
The filing provides a snapshot of the portfolio's composition and value rather than the company's operational financials (revenue, profit, cash flow). Key portfolio metrics include:
- Total Portfolio Value: Approximately $245,099,000 (reported as 245,099 in thousands).
- Total Shares Held: 5,135,017 shares across all issuers.
- Voting Authority Breakdown:
- Sole Authority: 4,764,435 shares.
- Shared Authority: 0 shares.
- No Authority: 370,582 shares.
- Top Holdings by Value:
- Tompkins Financial Corp: $22,133,000 (546,232 shares total).
- General Electric Co: $4,559,000 (200,841 shares total).
- Exxon Mobil Corp: $7,252,000 (79,294 shares total).
- Microsoft Corp: $2,693,000 (90,502 shares total).
- Johnson & Johnson: $3,624,000 (52,603 shares total).
Material Changes and Portfolio Composition
This filing is a static snapshot of holdings as of the reporting date. It does not contain comparative data against the prior quarter (June 30, 2012) to determine material changes in position size or new entries/exits. However, the portfolio demonstrates a diversified mix of:
- Large-Cap Equities: Significant positions in technology (Microsoft, Intel, Cisco), healthcare (Pfizer, Merck, J&J), and energy (Exxon, Chevron).
- ETF Exposure: Substantial allocation to index funds, including WisdomTree Emerging Markets ETFs, iShares S&P MidCap 400, and Vanguard Index funds.
- Self-Holding: The largest single position by value is the company's own stock (Tompkins Financial Corp), representing approximately 9% of the total reported portfolio value.
Guidance, Risks, and Contingencies
Management Commentary: Form 13F filings do not include management commentary, forward-looking guidance, or strategic outlooks.
Risks and Contingencies: The filing does not disclose specific risk factors or contingencies. The "Other Voting Authority" column indicates that for certain positions (e.g., Tompkins Financial Corp, General Electric, Pfizer), the firm holds shares where it has no voting authority, likely due to lending or custodial arrangements.
Investor Verification Checklist
- Self-Holding Concentration: Verify the strategic rationale for holding a significant position in the company's own stock ($22.1M) relative to the total portfolio size.
- ETF Weighting: Assess the impact of the large ETF positions (e.g., WisdomTree Emerging Markets, iShares MidCap) on the portfolio's overall sector exposure and volatility.
- Voting Rights: Note the 370,582 shares held with "None" voting authority to understand the extent of securities lending or restricted holdings.
- Comparative Analysis: Retrieve the Q2 2012 (June 30) 13F filing to calculate actual turnover and identify new positions or exits not visible in this single document.