TMP

Business Context and Reporting Period

Company: Tompkins Financial Corp
Filing Type: Form 13F-HR (Quarterly Report of Holdings)
Reporting Period: Ended March 31, 2007
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 2007. The report details holdings in U.S. and foreign equity securities, including common stock and American Depositary Receipts (ADRs).

Key Financial Metrics

Total Portfolio Value: $319,141,000 (Reported in thousands)
Total Shares Held: 6,758,034
Breakdown of Voting Authority:

• Sole Discretion: 6,154,176 shares
• Shared Discretion: 0 shares
• None (Defined/Other): 603,858 shares

Top 5 Holdings by Value:

1. Tompkins Trust Co Inc: $39,892,000 (952,995 shares)
2. Exxon Mobil Corp: $13,821,000 (183,199 shares)
3. General Electric Co: $9,788,000 (276,844 shares)
4. Microsoft Corp: $5,202,000 (186,773 shares)
5. Johnson & Johnson: $5,897,000 (97,870 shares)

Debt and Liquidity: The filing text does not provide data on the company's debt, cash flow, or liquidity positions, as Form 13F reports only equity holdings.

Material Changes and Portfolio Composition

Concentration Risk: The portfolio is heavily concentrated in the reporting company's own subsidiary, Tompkins Trust Co Inc, which represents approximately 12.5% of the total reported value ($39.9M of $319.1M).
Sector Exposure: Significant exposure to Financials (JPMorgan Chase, Wells Fargo, Bank of America, Citigroup), Healthcare (Pfizer, UnitedHealth Group, Medtronic), and Technology (Intel, Cisco Systems, Hewlett-Packard).
Derivatives: The filing indicates the use of call options and put options for several positions (e.g., Noble Corp, Seagate Technology, AFLAC, AT&T), though specific notional values for these derivatives are not aggregated in the summary totals.

Guidance, Outlook, and Risks

Management Commentary: Not applicable. Form 13F filings are statutory disclosures of holdings and do not contain management commentary, forward-looking guidance, or strategic outlooks.
Risks and Contingencies: The filing does not disclose specific risk factors or contingencies. However, the heavy weighting in large-cap U.S. equities and the significant position in the company's own trust subsidiary imply concentration risks specific to the financial sector and the parent company's performance.

Investor Verification Checklist

• Verify Subsidiary Holdings: Confirm the rationale and regulatory compliance regarding the $39.9M holding in Tompkins Trust Co Inc, which is a significant portion of the reported portfolio.
• Check Option Positions: Review the "Put/Call" columns for specific tickers (e.g., Noble Corp, Seagate, AFLAC) to understand the hedging or leverage strategies employed, as these are not reflected in the total share count.
• Compare to Prior Quarter: Compare these holdings against the Q4 2006 13F filing to identify significant buys or sells, particularly in the top 10 positions.
• Valuation Context: Note that the "Value" column represents the cost or fair value at the time of filing (March 31, 2007) and does not reflect current market prices.