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 September 30, 2007
Context: This filing discloses the equity securities held by Tompkins Financial Corp, a registered investment adviser, as of the end of the third quarter of 2007. The report details holdings across various sectors, including financials, technology, healthcare, and consumer staples.
Key Financial Metrics and Portfolio Composition
Total Portfolio Value: Approximately $339,933,000 (based on the "Value" column in thousands).
Total Shares Held: 6,741,363 shares.
Voting Authority Breakdown:
- Sole Discretion: 6,132,949 shares (approx. 91% of total holdings).
- Shared Discretion: 0 shares.
- None (Defined/Other): 608,414 shares (approx. 9% of total holdings).
- General Electric Co: $9,980,000 (241,077 shares).
- Exxon Mobil Corp: $13,307,000 (143,776 shares).
- Microsoft Corp: $4,307,000 (146,269 shares).
- Intel Corp: $4,970,000 (192,197 shares).
- United Technologies Corp: $4,577,000 (56,882 shares).
- UnitedHealth Group Inc: $3,929,000 (81,131 shares).
- Home Depot Inc: $3,437,000 (105,987 shares).
- Wells Fargo & Co: $3,256,000 (91,455 shares).
- Target Corp: $4,166,000 (65,549 shares).
- Verizon Communications: $2,921,000 (65,983 shares).
Note: The filing lists Tompkins Financial Corp itself as a holding with a value of $38,608,000 (972,498 shares), representing a significant portion of the reported portfolio value.
Material Changes and Observations
Comparison to Prior Period: The provided text contains only the snapshot of holdings as of September 30, 2007. It does not include the prior quarter's data (June 30, 2007) or a summary of purchases and sales. Therefore, material changes in position size or new entries cannot be calculated from this document alone.
Portfolio Concentration: The portfolio is heavily weighted toward large-cap U.S. equities. Significant exposure exists in the Financials (Wells Fargo, Bank of America, J.P. Morgan), Technology (Microsoft, Intel, Cisco, Oracle), and Healthcare (UnitedHealth, Pfizer, Johnson & Johnson) sectors.
Discretionary Authority: The vast majority of holdings (over 90%) are held with "Sole" voting authority, indicating direct control by the reporting manager.
Guidance, Outlook, and Risks
Management Commentary: Form 13F filings are strictly quantitative disclosures of holdings. They do not contain management commentary, forward-looking guidance, or strategic outlooks.
Risks and Contingencies: No specific risk factors or contingencies are disclosed in this filing type. The filing reflects the portfolio composition at a single point in time and does not address market risks, liquidity constraints, or operational contingencies.
Unusual Items: The filing includes a substantial position in the reporting company's own stock (Tompkins Financial Corp), valued at approximately $38.6 million, which is a notable feature of the portfolio structure.
Key Facts for Investor Verification
- Self-Holding: Verify the rationale and impact of the $38.6 million holding in Tompkins Financial Corp's own stock, which represents the single largest value item in the portfolio.
- Discretionary Split: Confirm the nature of the ~9% of holdings (608,414 shares) held with "None" voting authority, as these are likely held in defined benefit plans or other accounts where the manager lacks sole discretion.
- Sector Exposure: Assess the concentration risk in the Financial and Technology sectors, which dominate the top holdings by value.
- Historical Context: Cross-reference this filing with the Q2 2007 13F filing to determine actual trading activity (buys/sells) during the third quarter, as this document only shows the ending balance.