TMP

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: Ended September 30, 2003
Context: This filing discloses the equity securities held by Tompkins Financial Corp, a registered investment adviser, as of the end of the third quarter of 2003. The report details holdings across various sectors, including financials, technology, healthcare, and consumer staples.

Key Financial Metrics

Total Portfolio Value: $275,113,000 (Reported in thousands)
Total Shares Held: 7,369,921 shares
Voting Authority Breakdown:

• Sole Discretion: 6,869,448 shares
• Shared Discretion: 0 shares
• None (Defined/Other): 500,473 shares

Top 5 Holdings by Value:

1. General Electric Co: $11,372,000 (381,633 shares)
2. Exxon Mobil Corp: $10,228,000 (279,541 shares)
3. Johnson & Johnson: $7,081,000 (143,007 shares)
4. Microsoft Corp: $4,227,000 (152,120 shares)
5. Wal-Mart Stores Inc: $5,412,000 (96,929 shares)

Note: The filing lists individual security values in thousands. The "Grand Total" value of $275,113 represents the aggregate value of all reported holdings.

Material Changes and Portfolio Composition

Self-Holding: The portfolio includes a significant position in the reporting company's own subsidiary or affiliate, Tompkins Trustco Inc, valued at $36,611,000 (800,247 shares), representing approximately 13.3% of the total reported portfolio value.
Sector Exposure: The portfolio is heavily weighted toward large-cap U.S. equities. Significant exposure exists in:

• Financials: Citigroup, Bank of America, Wells Fargo, JPMorgan Chase.
• Technology: Intel, Cisco Systems, Oracle, IBM.
• Healthcare: Pfizer, Merck, Medtronic, Abbott Labs.
• Energy: Exxon Mobil, ChevronTexaco, ConocoPhillips.

Derivatives: The filing indicates the use of call options and other derivative instruments for several positions (e.g., AFLAC, AT&T Wireless, Alcoa), where voting authority is split between "Sole" and "None" categories.

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 risks or contingencies are disclosed in this document. The filing strictly reports quantitative data regarding security ownership as of the period end.
Unusual Items: The filing includes holdings in various closed-end funds and preferred income funds (e.g., John Hancock Preferred Income Fund II, Muni Assets Fund Inc), indicating a diversified approach beyond pure common equity.

Key Facts for Investor Verification

• Concentration Risk: Verify the impact of the large self-holding in Tompkins Trustco Inc ($36.6M) on the overall portfolio concentration.
• Derivative Exposure: Review the "None" voting authority columns to assess the extent of call option usage or defined benefit plan holdings which may limit voting control.
• Top Holdings Weighting: Confirm the percentage of the total portfolio represented by the top 10 holdings (General Electric, Exxon Mobil, Johnson & Johnson, etc.) to understand concentration in mega-cap stocks.
• Reporting Lag: Note that this data reflects holdings as of September 30, 2003, and does not reflect any trades executed in the subsequent quarter.