Business Context and Reporting Period
This filing is a Form 13F-HR submitted by Tompkins Financial Corp for the reporting period ending March 31, 2011. As a registered investment adviser, Tompkins Financial Corp reports its holdings in equity securities, including common stocks and exchange-traded funds (ETFs), to the SEC. The filing details the specific securities held, the number of shares, and the voting authority associated with each position.
Key Financial Metrics
The filing provides aggregate data on the portfolio's composition and value as of the reporting date:
- Total Portfolio Value: $220,880,000 (reported as 220,880 in thousands).
- Total Shares Held: 4,587,977 shares.
- Voting Authority Breakdown:
- Sole Voting Authority: 4,106,645 shares.
- Shared Voting Authority: 0 shares.
- None (Discretionary/Other): 481,332 shares.
- Top Holdings by Value:
- Tompkins Financial Corp: $23,560,000 (567,174 shares total).
- General Electric Co: $4,292,000 (214,136 shares total).
- International Business Machines (IBM): $5,933,000 (36,383 shares total).
- Johnson & Johnson: $3,243,000 (54,738 shares total).
- Exxon Mobil Corp: $7,887,000 (93,741 shares total).
Material Changes Versus Prior Period
The provided text contains only the current period's holdings table. It does not include the prior quarter's data or a comparative summary. Therefore, material changes versus the prior comparable period cannot be determined from this source text alone.
Guidance, Outlook, and Risks
Form 13F filings are strictly informational and do not contain management commentary, forward-looking guidance, or risk disclosures. Consequently:
- Guidance/Outlook: Not provided in this filing.
- Risks/Contingencies: Not provided in this filing.
- Unusual Items: The portfolio includes a significant position in the reporting company's own stock (Tompkins Financial Corp), which is a common practice for employee benefit plans or internal holdings but represents a notable concentration relative to other positions.
Important Facts for Investor Verification
- Self-Holding Concentration: Verify the rationale for holding over $23.5 million in Tompkins Financial Corp stock, which represents approximately 10.7% of the total reported portfolio value.
- ETF Exposure: The portfolio holds significant positions in broad market ETFs (e.g., iShares MSCI EAFE, iShares Russell 2000 Growth), indicating a diversified strategy alongside individual stock picks.
- Voting Rights: Note that while the firm has sole voting authority for the majority of shares (approx. 89.5%), nearly 10.5% of shares are held with "None" voting authority, suggesting these may be held in client accounts where the firm acts as a custodian or has limited discretion.
- Industry Sectors: The portfolio is heavily weighted toward Energy (Exxon, Chevron, Schlumberger), Technology (IBM, Microsoft, Intel), and Financials (Wells Fargo, JPMorgan, Tompkins).