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 September 30, 2000. As a 13F filing, this document discloses the investment manager's long positions in U.S. equity securities, detailing the number of shares held, value, and voting authority. It does not contain the company's own financial performance metrics (revenue, profit, cash flow) but rather its portfolio composition.
Key Financial Metrics and Portfolio Composition
The filing provides aggregate data for the portfolio as of the reporting date:
- Total Portfolio Value: $303,042,000 (Reported as 303,042 in thousands).
- Total Shares Held: 6,640,705 shares.
- Voting Authority Breakdown:
- Sole Discretion: 6,129,571 shares.
- Shared Discretion: 17,600 shares.
- No Voting Authority: 493,534 shares.
- Top Holdings by Value (Selected):
- Tompkins Trustco Inc: $32,393,000 (1,117,032 shares total).
- General Electric Co: $23,751,000 (411,791 shares total).
- Exxon Mobil Corp: $14,385,000 (161,423 shares total).
- Intel Corp: $7,400,000 (178,080 shares total).
- IBM: $5,725,000 (50,894 shares total).
- Merck & Co Inc: $6,053,000 (81,339 shares total).
- Sun Microsystems Inc: $14,186,000 (121,517 shares total).
- Wal-Mart Stores Inc: $3,983,000 (82,800 shares total).
Material Changes and Portfolio Strategy
The filing text does not provide comparative data against the prior quarter (June 30, 2000) to calculate material changes in holdings. However, the portfolio composition indicates a diversified strategy with significant exposure to:
- Technology: Heavy positions in Sun Microsystems, Intel, Cisco Systems, and Microsoft.
- Energy: Significant holdings in Exxon Mobil, Chevron, and Duke Energy.
- Financials: Large positions in Citigroup, Chase Manhattan, and American Express.
- Healthcare: Major stakes in Pfizer, Johnson & Johnson, and Merck.
- Self-Holding: The largest single position is in Tompkins Trustco Inc, the company's own subsidiary or related entity.
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. The presence of "Defined" voting authority for certain positions (e.g., Transocean Sedco Forex, AES Corp) indicates that for those specific holdings, the investment manager does not have sole discretion over voting, which may imply co-investment structures or specific fund mandates.
Important Facts for Investor Verification
- Self-Ownership: Verify the nature of the $32.4 million holding in Tompkins Trustco Inc to understand the relationship between the reporting entity and the issuer.
- Concentration Risk: The top 10 holdings represent a significant portion of the $303 million portfolio; verify if this concentration aligns with the firm's stated investment mandate.
- Voting Rights: Note that approximately 7.4% of total shares (493,534 shares) have "None" listed for voting authority, which may indicate restricted stock or specific derivative structures.
- Historical Context: The portfolio reflects the market environment of late 2000, with heavy weighting in the technology sector (dot-com era) and energy, which may differ significantly from current strategic priorities.