SEC Filing Summary: Form 13F Information Table
Business Context and Reporting Period
Company: Tompkins Financial Corp
Filing Type: Form 13F Information Table (Schedule of Holdings)
Reporting Period: Quarter ended September 30, 2013
Context: This filing discloses the equity securities held by Tompkins Financial Corp as a registered investment manager. It details the issuer, class of security, CUSIP, value, and voting authority for each holding.
Key Financial Metrics and Portfolio Composition
Portfolio Overview: The filing lists a diversified portfolio of equities, exchange-traded funds (ETFs), and partnerships. The data provided is in thousands of dollars (Column 4) and shares (Column 5).
- Top Holdings by Value (Sole Discretion):
- General Electric Co: $172,606 (172,606 shares)
- PowerShares S&P 500 ETF: $516,217 (516,217 shares)
- WisdomTree Emerging Markets Equity ETF: $347,480 (347,480 shares)
- WisdomTree Emerging Markets Small Cap ETF: $284,746 (284,746 shares)
- Exxon Mobil Corp: $68,951 (68,951 shares)
- Intel Corp: $102,280 (102,280 shares)
- Microsoft Corp: $91,784 (91,784 shares)
- Pfizer Inc: $95,691 (95,691 shares)
- Verizon Communications: $61,798 (61,798 shares)
- Apple Inc: $5,944 (5,944 shares)
- Self-Holding: Tompkins Financial Corp holds 491,500 shares of its own stock valued at $22,717 (Sole) and 43,690 shares valued at $2,019 (Discretionary).
- Asset Classes: Significant allocation to broad market ETFs (S&P 500, Emerging Markets, International) alongside large-cap individual equities in Technology, Energy, Healthcare, and Financials.
Material Changes and Voting Authority
Voting Authority: The filing distinguishes between "Sole" voting authority and "Discretionary" (DFND) authority. Many large positions are split between these two categories, indicating different management mandates or account types.
- Shared Authority: Several holdings show "Shared" voting authority (Column 7), such as Accenture PLC, Aflac Inc, and AT&T Inc, where Tompkins shares voting rights with other managers.
- None: Some positions, particularly in ETFs or specific equity blocks, list "None" for voting authority, often associated with shares held in trust or specific fund structures.
Note: As this is a quarterly snapshot, specific material changes (increases/decreases) compared to the prior quarter (June 30, 2013) cannot be calculated without the previous filing data.
Guidance, Outlook, and Risks
Management Commentary: 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 risks or contingencies. However, the portfolio composition implies exposure to:
- Market Risk: Heavy weighting in large-cap US equities and Emerging Markets ETFs.
- Concentration Risk: Significant positions in specific sectors like Technology (Intel, Microsoft, Apple) and Energy (Exxon, Chevron, ConocoPhillips).
- Liquidity: The portfolio consists primarily of highly liquid exchange-traded securities.
- Verify Total Assets Under Management (AUM): Sum the "Value" column to estimate the total equity portfolio size reported for this quarter.
- Check for Insider Trading: Review the "Self-Holding" line item (Tompkins Financial Corp) to confirm the volume of shares held by the company itself versus external clients.
- Compare with Prior Quarter: Obtain the June 30, 2013, Form 13F to calculate net buys and sells for top holdings like General Electric and PowerShares S&P 500.
- Assess Voting Control: Analyze the ratio of "Sole" vs. "Shared" vs. "None" voting authority to understand the firm's actual control over the reported assets.
- Confirm ETF Exposure: Verify the specific ETF tickers (e.g., WisdomTree, PowerShares, iShares) to understand the underlying asset allocation beyond the ETF wrapper.