SEC Filing Summary: Form 13F Information Table
Business Context and Reporting Period
Company: Tompkins Financial Corp
Filing Type: Form 13F Information Table (Statement of Holdings)
Reporting Period: Quarter ended March 31, 2017
Context: This filing discloses the equity securities held by Tompkins Financial Corp as of the end of the first quarter of 2017. As a Form 13F, this document details investment positions rather than the company's own operating financial results (revenue, profit, etc.).
Key Financial Metrics and Portfolio Composition
The filing provides a granular list of holdings but does not aggregate total portfolio value, revenue, or profit metrics for Tompkins Financial Corp itself. Key portfolio characteristics include:
- Top Holdings by Value: The portfolio is heavily weighted toward large-cap U.S. equities and Exchange Traded Funds (ETFs). Significant positions include:
- Microsoft Corp: 103,154 shares (Sole Discretion) valued at approximately $5,696,000.
- Verizon Communications Inc: 80,437 shares (Sole Discretion) valued at approximately $4,350,000.
- Johnson & Johnson: 43,327 shares (Sole Discretion) valued at approximately $4,688,000.
- Wells Fargo & Co: 44,177 shares (Sole Discretion) valued at approximately $2,136,000.
- Exelon Corp: 97,734 shares (Sole Discretion) valued at approximately $3,505,000.
- Significant ETF Exposure: The portfolio holds substantial positions in passive index funds, including:
- First Tr Exchange Traded Fd Dorsey Wrt 5 ETF: 560,884 shares valued at $12,120,000.
- Ishares USA Min Vol ETF: 414,952 shares valued at $18,228,000.
- Wisdomtree Tr Europe Hedged Eq: 304,520 shares valued at $15,807,000.
- Vanguard Index Fds Value ETF: 125,990 shares valued at $10,378,000.
- Self-Holding: Tompkins Financial Corp holds a significant position in its own stock (Tompkins Financial Corp), with 475,020 shares under sole discretion valued at $30,401,000 and 57,984 shares under shared discretion valued at $3,711,000.
Material Changes and Voting Authority
Voting Authority: The filing distinguishes between "Sole," "Shared," and "None" voting authority. The vast majority of holdings are reported under "Sole" discretion. "Shared" authority is noted for specific positions such as Accenture PLC, AT&T Inc, and Alphabet Inc.
Changes vs. Prior Period: This filing is a snapshot of holdings as of March 31, 2017. It does not contain comparative data against the prior quarter (December 31, 2016) within the text provided; therefore, material changes in position size cannot be calculated from this document alone.
Guidance, Outlook, and Risks
Management Commentary: Not applicable. Form 13F filings are statutory disclosures of holdings and do not contain management discussion, financial guidance, or outlook statements.
Risks and Contingencies: The filing includes a standard SEC disclaimer stating that the Commission has not reviewed the information for accuracy or completeness. No specific operational risks or contingencies are disclosed in this format.
Investor Verification Checklist
- Portfolio Concentration: Verify the concentration risk associated with the top 10 holdings, which appear to dominate the reported value.
- Self-Holding Impact: Confirm the purpose and impact of the significant self-holding (approx. $34M total value) on the company's capital structure or treasury management.
- ETF Strategy: Analyze the heavy reliance on ETFs (e.g., WisdomTree, iShares, Vanguard) to understand the passive vs. active management strategy of the investment arm.
- Valuation Accuracy: Note that the "Value" column in Form 13F is often based on the reporting date's market price; verify current market values against the March 31, 2017 figures.
- Missing Financials: Acknowledge that this document does not provide Tompkins Financial Corp's own revenue, earnings, or cash flow data; refer to Form 10-Q for operational metrics.