SEC Filing Summary: Form 13F Information Table
Business Context and Reporting Period
Company: Tompkins Financial Corp
Filing Type: Form 13F Information Table (Quarterly Report of Holdings)
Reporting Period: Quarter ended September 30, 2019
Context: This filing discloses the equity securities held by Tompkins Financial Corp as a registered investment manager. It details the issuer, class of security, CUSIP, value, and voting authority for each holding.
Key Financial Metrics and Portfolio Composition
Portfolio Overview: The filing lists a diversified portfolio of equities and exchange-traded funds (ETFs). The data provided represents the value of holdings in thousands of dollars (Column 4) and share/principal amounts (Column 5).
Top Holdings by Value (Selected):
- Goldman Sachs ETF Tr ActiveBeta Int: $945,721 (936,783 shares)
- WisdomTree Tr EM Ex St-Owned: $433,922 (427,747 shares)
- Tompkins Financial Corp (Own Stock): $463,729 (440,905 shares)
- InvESCO Exch Tr ETF S&P 500 Revenue: $404,563 (403,098 shares)
- IsHares Inc Core MSCI EMKT: $321,569 (318,372 shares)
- IsHares Tr MSCI Min Vol ETF: $339,845 (338,831 shares)
- Verizon Communications Inc: $95,772 (93,785 shares)
- Microsoft Corp: $105,533 (99,313 shares)
- Apple Inc: $65,755 (63,499 shares)
- Exxon Mobil Corp: $91,365 (86,657 shares)
Voting Authority: The majority of holdings are reported with "Sole" voting authority. A significant portion of holdings, particularly in ETFs and large-cap equities, are reported with "Shared" or "None" voting authority, indicating the shares may be held in a custodial capacity or through funds where voting rights are shared or not exercised by the manager.
Material Changes and Observations
Comparison to Prior Period: The provided text contains only the snapshot of holdings for the period ended September 30, 2019. It does not include the prior quarter's data (June 30, 2019) within this specific document. Therefore, specific material changes in position size (increases or decreases) cannot be calculated from this text alone.
Notable Holdings: The portfolio includes a substantial position in its own stock (Tompkins Financial Corp) valued at approximately $463.7 million. There is also significant exposure to passive index strategies via ETFs from providers like Invesco, iShares, and WisdomTree, covering broad market indices, emerging markets, and specific factors like low volatility and revenue.
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: The filing includes a standard disclaimer stating that the SEC has not reviewed the information for accuracy or completeness. The primary risk disclosed implicitly is the concentration of assets in specific sectors (e.g., Technology, Financials, Healthcare) and the reliance on ETF performance for a large portion of the portfolio value.
Investor Verification Checklist
- Portfolio Concentration: Verify the total aggregate value of the portfolio to understand the weight of the top 10 holdings relative to the total assets under management.
- Own Stock Position: Confirm the purpose and size of the $463.7 million holding in Tompkins Financial Corp stock (e.g., treasury stock, employee benefit plans, or proprietary trading).
- ETF Exposure: Analyze the underlying assets of the major ETF holdings (e.g., WisdomTree EM, Invesco S&P 500 Revenue) to understand the true sector and geographic exposure.
- Voting Rights: Review the "Shared" and "None" voting authority columns to determine the extent of the firm's active engagement in corporate governance versus passive holding.
- Historical Trends: Compare this filing with the Q2 2019 13F filing to identify specific buy/sell activity and shifts in asset allocation.