SEC Filing Summary: Form 13F-HR
Business Context and Reporting Period
Company: Tompkins Financial Corp
Filing Type: Form 13F-HR (Quarterly Report of Holdings)
Reporting Period: Ended March 31, 2010
Context: This filing discloses the equity securities held by Tompkins Financial Corp, a registered investment adviser, as of the end of the first quarter of 2010. The report details holdings in both individual equities and exchange-traded funds (ETFs).
Key Financial Metrics
Total Portfolio Value: $244,136,000 (Reported in thousands)
Total Shares Held: 5,459,279
Voting Authority Breakdown:
- Sole Discretion: 4,885,006 shares
- Shared Discretion: 0 shares
- None (Discretionary/Other): 574,273 shares
- Tompkins Financial Corp (Self-Holding): $22,511,000 (557,129 shares)
- Exxon Mobil Corp: $6,935,000 (91,859 shares)
- General Electric Co: $4,396,000 (234,408 shares)
- International Business Machines (IBM): $5,296,000 (40,421 shares)
- Johnson & Johnson: $3,913,000 (54,973 shares)
- Microsoft Corp: $2,354,000 (78,259 shares)
- Wells Fargo & Co: $2,773,000 (82,315 shares)
Material Changes and Observations
Self-Holding: The portfolio includes a substantial position in the reporting company's own stock (Tompkins Financial Corp), valued at approximately $22.5 million, representing roughly 9.2% of the total reported portfolio value.
Concentration: The portfolio is heavily weighted toward large-cap U.S. equities in the financial, energy, technology, and healthcare sectors. The top 10 holdings represent a significant portion of the total asset value.
Discretionary Authority: The vast majority of holdings (approx. 89%) are held with sole voting authority, indicating direct management control over these positions.
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: No specific risks or contingencies are disclosed in this document. The filing strictly reports historical holdings as of the period end.
Unusual Items: The filing lists standard equity securities and ETFs. No derivatives (puts/calls) were reported with principal amounts, though the "Put/Call" columns are present in the table structure.
Investor Verification Checklist
- Self-Holding Impact: Verify the rationale and size of the $22.5M position in Tompkins Financial Corp stock relative to the firm's total assets under management.
- Portfolio Concentration: Assess the risk exposure given the heavy weighting in financials (Wells Fargo, JPMorgan, Bank of America) and energy (Exxon, Chevron) sectors.
- ETF Strategy: Confirm the strategic intent behind the large allocations to international (MSCI EAFE) and small-cap growth (Russell 2000) ETFs.
- Reporting Accuracy: Cross-reference the "Grand Totals" ($244.1M) with the sum of individual line items to ensure data integrity.
- Comparative Analysis: Compare these holdings against the Q4 2009 13F filing to identify significant buy/sell activity during the first quarter of 2010.