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 June 30, 2002
Context: This filing discloses the equity securities held by Tompkins Financial Corp, a registered investment adviser, as of the end of the second quarter of 2002. The report details holdings across various sectors, including financials, technology, healthcare, and consumer staples.
Key Financial Metrics
Total Portfolio Value: $259,200,000 (Reported in thousands)
Total Shares Held: 7,033,419
Breakdown of Voting Authority:
- Sole Discretion: 6,443,456 shares
- Shared Discretion: 30,425 shares
- None (Defined/Other): 559,538 shares
Note: As a Form 13F, this filing does not report revenue, profit, cash flow, margins, debt, or liquidity for Tompkins Financial Corp itself. It only reports the market value and share count of the underlying equity portfolio.
Material Holdings and Concentration
The portfolio is heavily concentrated in large-cap U.S. equities. The top holdings by reported value (in thousands) include:
- Tompkins Trust Co Inc: $40,160 (824,651 shares) - Significant insider/affiliate holding.
- Exxon Mobil Corp: $10,623 (259,685 shares)
- General Electric Co: $10,402 (358,225 shares)
- Johnson & Johnson: $6,530 (124,991 shares)
- Wal-Mart Stores Inc: $4,393 (79,881 shares)
- Microsoft Corp: $3,918 (71,643 shares)
- Pfizer Inc: $5,875 (167,874 shares)
- Procter & Gamble Co: $4,264 (47,760 shares)
- Home Depot Inc: $2,542 (69,240 shares)
- Intel Corp: $3,552 (194,462 shares)
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 portfolio composition reflects exposure to the broader U.S. equity market as of mid-2002, a period characterized by significant volatility in the technology and telecommunications sectors (evidenced by holdings in Cisco, Lucent, and WorldCom).
Investor Verification Checklist
- Portfolio Concentration: Verify the impact of the massive position in Tompkins Trust Co ($40.1M) on the reported total portfolio value and potential conflicts of interest.
- Technology Exposure: Assess the risk associated with significant holdings in telecom and tech firms (e.g., WorldCom, Lucent, Cisco) given the market conditions of 2002.
- Voting Rights: Note that approximately 8% of total shares (559,538) are held with "None" voting authority, likely in defined benefit plans or similar structures.
- Valuation Basis: Confirm that the "Value" column represents the aggregate market value of the holdings at the end of the quarter, not the cost basis.