SEC Filing Summary: Tompkins Financial Corp (13F-HR)
Business Context and Reporting Period
This Form 13F-HR filing reports the equity holdings of Tompkins Financial Corp as of the reporting period ending March 31, 2005. The filing details the portfolio of reportable securities held by the investment manager, categorized by voting authority (Sole, Shared, or None) and investment discretion.
Key Financial Metrics
As a 13F filing, this document reports portfolio composition rather than the issuer's operational financials (revenue, profit, cash flow). The following aggregate portfolio metrics are reported:
- Total Portfolio Value: $314,355,000 (Reported in thousands).
- Total Shares Held: 7,700,410 shares.
- Shares with Sole Voting Authority: 7,083,944 shares.
- Shares with No Voting Authority: 616,466 shares.
- Shares with Shared Voting Authority: 0 shares.
Material Changes and Portfolio Composition
The filing lists holdings across various sectors, with significant concentration in financials, technology, healthcare, and consumer staples. Notable positions include:
- Top Holdings by Value:
- Tompkins Trust Co Inc: $43,798,000 (979,905 shares). This represents a significant holding in the parent company's subsidiary.
- General Electric Co: $13,870,000 (384,686 shares).
- Exxon Mobil Corp: $16,575,000 (278,162 shares).
- Johnson & Johnson: $9,997,000 (148,895 shares).
- Procter & Gamble Co: $5,516,000 (104,081 shares).
- Microsoft Corp: $4,868,000 (201,526 shares).
- Wal-Mart Stores Inc: $5,377,000 (107,325 shares).
- Significant Sector Exposure: The portfolio includes substantial positions in major banks (Bank of America, Citigroup, Wells Fargo), telecommunications (SBC Communications, Verizon), and industrial conglomerates (3M, United Technologies).
Guidance, Outlook, and Risks
Management Commentary: Form 13F filings do not contain management commentary, forward-looking guidance, or strategic outlooks. They are strictly regulatory disclosures of holdings.
Risks and Contingencies: The filing does not disclose specific risk factors or contingencies. However, the portfolio shows exposure to market volatility through holdings in cyclical sectors such as energy (Exxon, ChevronTexaco), technology (Cisco, Intel, Dell), and financial services.
Unusual Items: The filing indicates a very large position in Tompkins Trust Co Inc ($43.8M), which is consistent with a financial holding company maintaining a significant stake in its own operating subsidiary. Additionally, several positions are held with "Defined" voting authority, indicating shared control or specific contractual arrangements.
Investor Verification Checklist
- Verify the total portfolio value of $314.4M against the company's total assets to determine the percentage of assets allocated to this equity portfolio.
- Confirm the nature of the $43.8M holding in Tompkins Trust Co Inc to understand the relationship between the reporting entity and the subsidiary.
- Review the "Defined" voting authority shares (approx. 616k shares) to understand any shared control agreements or restricted voting rights.
- Compare the sector allocation (heavy in Financials and Tech) against the company's stated investment policy or risk tolerance.
- Check subsequent filings to track changes in the top 10 holdings, particularly in volatile sectors like Technology and Energy.