Business Context and Reporting Period
This filing is a Form 13F-HR submitted by Tompkins Financial Corp for the reporting period ending December 31, 2008. As a 13F filing, this document discloses the equity securities held by the investment manager at the end of the quarter. It does not contain the company's own financial performance metrics (revenue, profit, cash flow) but rather details its investment portfolio composition.
Key Financial Metrics and Portfolio Composition
The filing provides aggregate data on the value and quantity of securities held, categorized by voting authority.
| Metric | Value |
|---|---|
| Total Portfolio Value | $243,924,000 (Reported in thousands) |
| Total Shares Held | 6,334,573 |
| Sole Discretionary Voting Authority | 5,890,692 shares |
| Shared/None Voting Authority | 443,881 shares |
| Top Holding by Value | Tompkins Financial Corp (Self-Held): $45,548,000 |
| Top External Holding by Value | Exxon Mobil Corp: $9,844,000 |
Notable Holdings
- Financials: Significant positions in Wells Fargo ($1,829,000), J.P. Morgan Chase ($1,201,000), and Bank of America ($1,561,000).
- Technology: Major allocations to Microsoft ($2,346,000), Intel ($2,076,000), and Cisco Systems ($1,909,000).
- Energy: Large stakes in Exxon Mobil ($9,844,000), Chevron ($3,462,000), and ConocoPhillips ($1,340,000).
- Consumer Staples: Procter & Gamble ($3,497,000) and Wal-Mart Stores ($2,460,000).
- ETFs/Index Funds: Substantial holdings in iShares MSCI EAFE Index Fund ($28,441,000) and Vanguard Index Funds REIT ETF ($5,565,000).
Material Changes and Portfolio Strategy
This filing represents a snapshot of holdings as of December 31, 2008. Without access to the prior quarter's (September 30, 2008) 13F filing, specific material changes in position size cannot be calculated from this text alone. However, the portfolio demonstrates a diversified strategy with heavy weighting toward large-cap U.S. equities, international exposure via ETFs, and a significant self-holding in Tompkins Financial Corp stock.
Guidance, Risks, and Contingencies
Management Commentary: Form 13F filings do not contain management commentary, forward-looking guidance, or risk factors regarding the reporting company's operations. They are strictly regulatory disclosures of holdings.
Market Context: The reporting date (Dec 31, 2008) coincides with the height of the global financial crisis. The portfolio includes significant exposure to the financial sector (Bank of America, Wells Fargo, Citigroup) and energy sector, which were highly volatile during this period.
Important Facts for Investor Verification
- Self-Holding Concentration: Tompkins Financial Corp holds approximately $45.5 million of its own stock, representing roughly 18.7% of the total reported portfolio value.
- International Exposure: The fund holds a massive position ($28.4 million) in the iShares MSCI EAFE Index Fund, indicating significant exposure to non-U.S. developed markets.
- Financial Sector Risk: Despite the 2008 crisis, the portfolio maintains substantial positions in major U.S. banks (Bank of America, Wells Fargo, J.P. Morgan, Citigroup).
- Valuation Basis: All values are reported in thousands of dollars; the total portfolio value is approximately $244 million.