SEC Filing Summary: Tompkins Financial Corp (13F-HR)
Business Context and Reporting Period
This Form 13F-HR filing reports the equity holdings of Tompkins Financial Corp as of the period ending December 31, 2002. As a registered investment adviser, Tompkins Financial Corp discloses its long positions in equity securities, including common stock and preferred stock, held for its own account and for defined benefit plans.
Key Financial Metrics
The filing provides aggregate portfolio data rather than corporate financial statements (revenue, profit, cash flow). Key portfolio metrics include:
- Total Portfolio Value: Approximately $244,109,000 (reported in thousands).
- Total Shares Held: 6,991,375 shares.
- Shares with Sole Voting Authority: 6,434,232 shares.
- Shares with Shared Voting Authority: 29,025 shares.
- Shares with No Voting Authority: 528,118 shares.
Material Changes and Portfolio Composition
The filing lists individual holdings but does not provide comparative data against the prior quarter to calculate material changes. However, the portfolio composition reveals significant concentration in specific sectors:
- Top Holdings by Value: The largest positions include Johnson & Johnson ($7,147,000), General Electric ($9,352,000), Exxon Mobil ($9,465,000), Microsoft ($3,806,000), and Procter & Gamble ($4,399,000).
- Self-Holding: The firm holds a significant position in its own parent company, Tompkins Trust Co, valued at $35,576,000 (806,909 shares).
- Industry Exposure: Heavy weighting in Technology (Microsoft, Intel, Cisco, Oracle), Healthcare (Pfizer, Merck, Medtronic), and Financials (Citigroup, Bank of America, Wells Fargo).
Guidance, Outlook, and Risks
Guidance and Outlook: Form 13F filings are historical disclosures of holdings and do not contain forward-looking guidance, management commentary, or earnings outlooks.
Risks and Contingencies: The filing does not disclose specific risk factors or contingencies. However, the presence of "Defined" voting authority on certain positions indicates holdings managed for defined benefit plans, which may have different liquidity or risk constraints compared to "Sole" discretionary accounts.
Investor Verification Checklist
- Verify the total portfolio value of ~$244 million against the firm's total assets under management (AUM) to determine the percentage of capital deployed in this specific portfolio.
- Confirm the valuation of the Tompkins Trust Co holding ($35.6M) to assess the firm's skin-in-the-game relative to its total portfolio.
- Review the "Defined" vs. "Sole" voting authority split to understand the proportion of assets managed for pension plans versus discretionary accounts.
- Check subsequent filings (Q1 2003) to identify any significant turnover or sector rotation following the December 31, 2002 snapshot.