SEC Filing Summary: Form 13F Information Table
Business Context and Reporting Period
Company: Tompkins Financial Corp
Filing Type: Form 13F Information Table (Schedule 13F)
Reporting Period: December 31, 2016
Context: This filing discloses the equity securities held by Tompkins Financial Corp as a registered investment manager. It details holdings in domestic and international equities, exchange-traded funds (ETFs), and partnerships. The filing does not contain financial performance metrics (revenue, profit, cash flow) for Tompkins Financial Corp itself, but rather a snapshot of its investment portfolio.
Key Financial Metrics and Portfolio Composition
The filing provides a list of holdings with share counts and values (in thousands). Key portfolio characteristics include:
- Top Holdings by Value: The portfolio is heavily weighted toward large-cap equities and broad market ETFs. Significant positions include:
- First Trust Dorsey Wright 5 ETF: $570,608 (570,608 shares)
- iShares Min Vol USA ETF: $398,477 (398,477 shares)
- iShares Min Vol EAFE ETF: $323,699 (323,699 shares)
- WisdomTree Europe Hedged Equity: $332,701 (332,701 shares)
- Oppenheimer Ultra Dividend Rev ETF: $330,204 (330,204 shares)
- Significant Equity Positions:
- Tompkins Financial Corp (Self-Holding): $493,024 (493,024 shares)
- General Electric Co: $85,164 (85,164 shares)
- Microsoft Corp: $84,929 (84,929 shares)
- Pfizer Inc: $90,212 (90,212 shares)
- Exxon Mobil Corp: $76,503 (76,503 shares)
- Voting Authority: The manager reports "Sole" voting authority for the majority of holdings. Some positions (e.g., AT&T, Alphabet, Apple) show "Shared" or "None" voting authority for specific tranches, often associated with "DFND" (Discretionary/Defined) management codes.
Material Changes and Portfolio Activity
Note: As a Form 13F Information Table, this document lists holdings at a single point in time (December 31, 2016). It does not provide comparative data against the prior quarter (September 30, 2016) within this text. Therefore, material changes in position size or new entries cannot be calculated from this source alone.
The filing indicates a diversified strategy with significant exposure to:
- Low Volatility Strategies: Large allocations to iShares Min Vol USA and EAFE ETFs.
- International Exposure: Holdings in WisdomTree Europe Hedged Equity and various international ADRs (e.g., AstraZeneca, BHP Billiton).
- Dividend Focus: Significant position in Oppenheimer Ultra Dividend Rev ETF.
Guidance, Risks, and Contingencies
Guidance and Outlook: The filing text does not contain management commentary, forward-looking guidance, or strategic outlook for Tompkins Financial Corp.
Risks and Contingencies:
- Concentration Risk: The portfolio holds a substantial position in its own stock (Tompkins Financial Corp), valued at approximately $493 million.
- Market Risk: Significant exposure to broad market indices via ETFs (S&P 500, Russell 2000, MSCI EAFE) implies correlation with general market movements.
- Regulatory Disclaimer: The filing includes a standard SEC disclaimer stating that the Commission has not reviewed the information for accuracy or completeness.
Investor Verification Checklist
- Self-Holding Verification: Confirm the rationale and size of the $493 million position in Tompkins Financial Corp stock relative to the total portfolio size.
- ETF Strategy Alignment: Verify if the heavy weighting in "Minimum Volatility" and "Dividend" ETFs aligns with the firm's stated investment philosophy for client assets.
- Voting Rights: Review the "Shared" and "None" voting authority entries to understand the extent of third-party discretion or custodial arrangements.
- Quarterly Comparison: Compare this list against the Q3 2016 13F filing to identify actual buy/sell activity and turnover rates.
- Valuation Accuracy: Note that values are reported in thousands; ensure proper scaling when aggregating total portfolio value.