SEC Filing Summary: Tompkins Financial Corp (13F-HR)
Business Context and Reporting Period
This filing is a Form 13F-HR submitted by Tompkins Financial Corp, a registered investment adviser, reporting its holdings as of the period ending September 30, 2011. The form discloses equity securities held by the firm, categorized by voting authority (Sole, Shared, or None) and investment discretion (Sole or Defined).
Key Financial Metrics
As a 13F filing, this document reports portfolio holdings rather than the company's own operating financials (revenue, profit, cash flow). The following metrics represent the aggregate value of the reported portfolio:
- Total Portfolio Value: $179,541,000 (Reported as 179,541 in thousands).
- Total Shares Held: 4,385,382 shares across all issuers.
- Shares with Sole Voting Authority: 3,929,697 shares.
- Shares with Shared Voting Authority: 0 shares.
- Shares with No Voting Authority: 455,685 shares.
Material Changes and Portfolio Composition
The filing does not provide comparative data against the prior quarter (June 30, 2011) to calculate material changes in holdings. However, the portfolio composition reveals a diversified mix of large-cap equities and exchange-traded funds (ETFs). Notable characteristics include:
- Significant Self-Holding: The largest single position by value is Tompkins Financial Corp itself, valued at approximately $20.3 million ($18.6M Sole + $1.7M Defined).
- Top Holdings by Value: Major positions include General Electric ($2.9M), Johnson & Johnson ($2.9M), Microsoft ($1.9M), Verizon Communications ($2.1M), and Wells Fargo ($1.6M).
- ETF Exposure: Significant allocation to index funds, including iShares Russell 2000 Growth Index ($7.0M), iShares S&P MidCap 400 ($8.1M), and Vanguard REIT ETF ($5.6M).
- Industry Sectors: Heavy representation in Technology, Healthcare, Financials, and Energy.
Guidance, Outlook, and Risks
Guidance and Outlook: Form 13F filings are historical disclosures of holdings and do not contain management commentary, forward-looking guidance, or strategic outlooks for the reporting company or its portfolio companies.
Risks and Contingencies: The filing does not disclose specific risk factors or contingencies. The presence of "Defined" voting authority for certain positions indicates that the firm manages these assets on behalf of clients or in a capacity where voting rights are shared or restricted, which is a standard operational detail rather than a specific risk event.
Investor Verification Checklist
- Verify the total portfolio value of $179.5 million against the firm's total assets under management (AUM) to determine if this represents the entire portfolio or a subset.
- Confirm the nature of the "Defined" voting authority positions to understand the extent of client-directed versus discretionary management.
- Review the concentration risk in the top 10 holdings, which appear to represent a significant portion of the total reported value.
- Note that the filing does not disclose short positions, derivatives (other than those embedded in ETFs), or non-equity assets.