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, 2006. As a 13F filing, this document discloses the investment manager's long positions in U.S. equity securities, detailing the number of shares held, the aggregate market value, and the nature of voting authority (Sole, Shared, or None).
Key Financial Metrics
The filing provides a snapshot of the portfolio's composition rather than the company's operational financials (revenue, profit, cash flow). Key portfolio metrics include:
- Total Aggregate Value: $328,502,000 (reported in thousands).
- Total Shares Held: 6,827,668 shares.
- Voting Authority Breakdown:
- Sole Discretion: 6,224,101 shares.
- Shared Discretion: 0 shares.
- No Voting Authority: 603,567 shares.
- Top Holdings by Value:
- Tompkins Trustco Inc: $46,000,000 (953,032 shares).
- Exxon Mobil Corp: $15,122,000 (197,344 shares).
- General Electric Co: $11,544,000 (310,332 shares).
- Microsoft Corp: $6,055,000 (202,820 shares).
- Johnson & Johnson: $6,380,000 (96,642 shares).
Material Changes and Portfolio Composition
This filing represents a static snapshot of holdings at year-end 2006. As a 13F form, it does not contain comparative data against the prior quarter (Q3 2006) or prior year within this specific text. However, the portfolio demonstrates a heavy concentration in:
- Financials: Significant positions in Citigroup, Bank of America, Wells Fargo, and Goldman Sachs.
- Technology: Large allocations to Cisco Systems, Intel, Hewlett-Packard, and Oracle.
- Energy: Major holdings in Exxon Mobil, Chevron, and Schlumberger.
- Consumer Staples: Positions in Procter & Gamble, Coca-Cola, and PepsiCo.
Guidance, Outlook, and Risks
Management Commentary: Form 13F filings are regulatory disclosures of holdings and do not contain management commentary, forward-looking guidance, or strategic outlooks.
Risks and Contingencies: The filing does not disclose specific risk factors or contingencies. The primary risk indicated by the data is the concentration of assets in large-cap U.S. equities and the specific exposure to the financial and energy sectors as of late 2006.
Unusual Items: The portfolio includes a significant position in the reporting company's own subsidiary or affiliate, Tompkins Trustco Inc, valued at approximately $46 million, which represents the largest single holding in the portfolio.
Investor Verification Checklist
- Verify the total portfolio value of $328.5 million against the company's total assets to determine the percentage of assets allocated to this equity portfolio.
- Confirm the nature of the "Sole" vs. "Defined" voting authority for the large Tompkins Trustco position to understand internal corporate governance structures.
- Compare these 2006 holdings against subsequent 13F filings to track the evolution of the portfolio through the 2008 financial crisis.
- Review the "None" voting authority column (603,567 shares) to identify any restricted stock or derivative positions where voting rights were not held.