SEC Filing Summary: Form 13F Information Table
Business Context and Reporting Period
Company: Tompkins Financial Corp
Filing Type: Form 13F Information Table (Statement of Beneficial Ownership)
Reporting Period: Quarter ended March 31, 2024
Context: This filing discloses the equity securities held by Tompkins Financial Corp at the end of the first quarter of 2024. As a financial institution, the firm reports holdings managed under "Sole" discretion and "Discretionary" (DFND) authority.
Key Financial Metrics and Portfolio Composition
Portfolio Overview: The filing lists hundreds of individual equity positions, including common stocks, exchange-traded funds (ETFs), and closed-end funds. The portfolio is heavily diversified across sectors including Technology, Financials, Healthcare, and Consumer Staples.
Top Holdings by Value (Selected Examples):
- Tompkins Financial Corp (Own Stock): 1,179,888 shares (Combined Sole and Discretionary) valued at approximately $592.5 million.
- Apple Inc: 212,812 shares valued at approximately $36.5 million.
- Microsoft Corp: 110,438 shares valued at approximately $46.5 million.
- Alphabet Inc (Class A): 74,501 shares valued at approximately $10.9 million.
- Amazon.com Inc: 74,313 shares valued at approximately $13.4 million.
- Walmart Inc: 290,240 shares valued at approximately $17.5 million.
Asset Classes: The portfolio includes significant allocations to broad market ETFs (e.g., iShares Core S&P 500, Vanguard Total Stock Market) and sector-specific ETFs (e.g., Technology, Healthcare, Energy).
Material Changes and Voting Authority
Voting Authority: The filing distinguishes between voting authority held "Solely," "Shared," or "None." For the majority of large-cap positions, Tompkins Financial Corp exercises "Sole" voting authority. Some positions, particularly in ETFs or specific institutional holdings, show "Discretionary" (DFND) authority with varying levels of shared or sole voting rights.
Comparison to Prior Period: This filing is a snapshot of holdings as of March 31, 2024. The provided text does not contain the prior quarter's (December 31, 2023) data, so specific quantitative changes (buys/sells) cannot be calculated from this document alone.
Guidance, Outlook, and Risks
Management Commentary: Form 13F filings are regulatory disclosures of holdings and do not contain management commentary, earnings guidance, or forward-looking outlooks.
Risks and Contingencies: The filing includes a standard SEC disclaimer stating that the Commission has not reviewed the information for accuracy or completeness. The primary risk disclosed implicitly is the concentration of assets in the financial sector and the firm's own stock, which represents a significant portion of the reported value.
Key Facts for Investor Verification
- Own Stock Concentration: Verify the total value of Tompkins Financial Corp's own shares held (approx. $592.5M) relative to the firm's total assets under management to assess concentration risk.
- ETF Exposure: Confirm the specific weightings of passive ETF holdings (e.g., iShares, Vanguard) to understand the firm's exposure to broad market indices versus active stock picking.
- Voting Rights: Review the "Voting Authority" columns to determine the extent of the firm's influence over corporate governance in its top holdings.
- Discretionary vs. Sole: Distinguish between assets managed with "Sole" discretion versus "Discretionary" (DFND) to understand the scope of the firm's direct investment decisions versus client-directed or third-party managed assets.