SEC Filing Summary: Form 13F-HR
Business Context and Reporting Period
Company: Tompkins Financial Corp
Filing Type: Form 13F-HR (Quarterly Report of Holdings)
Reporting Period: December 31, 2007
Context: This filing discloses the equity securities held by Tompkins Financial Corp as a registered investment adviser. The report details holdings in over 200 issuers, including significant positions in large-cap U.S. equities, international ADRs, and exchange-traded funds (ETFs).
Key Financial Metrics
Total Portfolio Value: $327,078,000 (Reported in thousands)
Total Shares Held: 6,493,668
Voting Authority Breakdown:
- Sole Discretion: 5,934,180 shares
- Shared Discretion: 0 shares
- No Discretion: 559,488 shares
Top 5 Holdings by Value (Approximate):
- General Electric Co: $8,412,000 (226,993 shares)
- Exxon Mobil Corp: $12,837,000 (137,019 shares)
- Microsoft Corp: $4,858,000 (136,497 shares)
- Intel Corp: $4,597,000 (172,512 shares)
- Procter & Gamble Co: $5,682,000 (77,390 shares)
Notable ETF Holdings:
- iShares MSCI EAFE Index Fund: $30,884,000 (393,433 shares)
- iShares S&P MidCap 400: $11,525,000 (135,680 shares)
- iShares Russell 2000 Growth Index: $6,176,000 (73,994 shares)
Self-Holding: Tompkins Financial Corp holds 961,406 shares of its own stock, valued at $37,293,000.
Material Changes and Observations
Comparison to Prior Period: The provided text contains only the snapshot of holdings as of December 31, 2007. It does not include the prior quarter's data (September 30, 2007) or a summary of purchases and sales. Therefore, specific material changes in position size versus the prior period cannot be calculated from this document alone.
Portfolio Composition: The portfolio is heavily weighted toward large-cap industrial, technology, financial, and consumer staples sectors. A significant portion of the portfolio value ($30.9M) is allocated to international developed markets via the iShares MSCI EAFE Index Fund.
Guidance, Outlook, and Risks
Management Commentary: Form 13F filings are statutory disclosures of holdings and do not contain management commentary, forward-looking guidance, or strategic outlooks.
Risks and Contingencies: No specific risk factors or contingencies are disclosed in this filing type. The filing reflects a diversified portfolio but includes significant exposure to the financial sector (e.g., Citigroup, Bank of America, Wells Fargo) and energy sector (e.g., Exxon Mobil, Chevron), which were subject to market volatility in late 2007.
Unusual Items: The filing lists a substantial number of holdings with "Defined" voting authority (559,488 shares), indicating these shares are held in accounts where the manager does not have sole discretion to vote, often associated with client-directed accounts or specific fund structures.
Investor Verification Checklist
- Verify Total Assets Under Management (AUM): Confirm if the $327M reported represents the total AUM of the firm or only a specific segment of its advisory business.
- Check for Related Party Transactions: Review the $37.3M holding in Tompkins Financial Corp stock to understand the firm's internal investment policy and potential conflicts of interest.
- Assess Sector Concentration: Analyze the exposure to the financial and energy sectors given the market conditions of late 2007 (pre-financial crisis peak).
- Review Voting Authority: Investigate the nature of the 559,488 shares with "None" voting authority to understand the structure of the managed accounts.
- Compare with 10-K/10-Q: Cross-reference these holdings with the firm's own financial statements to ensure consistency in reported investments.