SEC Filing Summary: Form 13F Information Table
Business Context and Reporting Period
Company: Tompkins Financial Corp
Filing Type: Form 13F Information Table (Quarterly Report of Holdings)
Reporting Period: Ended March 31, 2019
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. The filing does not contain financial performance data (revenue, profit, cash flow) for Tompkins Financial Corp itself, but rather a snapshot of its investment portfolio.
Key Financial Metrics and Portfolio Composition
The filing lists numerous holdings across various sectors. Key portfolio characteristics include:
- Top Holdings by Value: The portfolio is heavily weighted toward large-cap equities and Exchange Traded Funds (ETFs). Significant positions include:
- Apple Inc: $62,992,000 (Sole Voting: 60,695 shares)
- Cisco Systems Inc: $118,827,000 (Sole Voting: 109,062 shares)
- Microsoft Corp: $105,573,000 (Sole Voting: 99,290 shares)
- Exxon Mobil Corp: $82,056,000 (Sole Voting: 77,142 shares)
- Verizon Communications Inc: $79,237,000 (Sole Voting: 77,251 shares)
- Johnson & Johnson: $46,705,000 (Sole Voting: 45,630 shares)
- Tompkins Financial Corp (Self-Holding): $465,920,000 (Sole Voting: 441,939 shares)
- Significant ETF Exposure: The portfolio holds substantial positions in passive index funds, including:
- Oppenheimer ETF Tr S&P 500 Revenue: $364,724,000
- Vanguard Intl Equity Index Fd (FTSE Europe): $356,258,000
- Ishares Tr Min Vol USA ETF: $313,714,000
- Ishares Inc Core MSCI EMKT: $292,351,000
- Voting Authority: Most holdings are reported with "Sole" voting authority. A portion of holdings are reported with "Shared" or "None" authority, often associated with specific fund structures or derivative positions.
Material Changes and Portfolio Activity
Note: As a Form 13F Information Table, this document provides a static snapshot of holdings as of the reporting date. It does not explicitly state the volume of purchases or sales made during the quarter compared to the prior period. Therefore, material changes in position size cannot be calculated from this text alone.
However, the presence of "Shared" voting authority on certain positions (e.g., Alphabet Inc, Amazon.com Inc, Berkshire Hathaway Inc) indicates that the manager does not have exclusive control over voting rights for those specific shares, which may imply co-investment or specific fund structures.
Guidance, Outlook, and Risks
Guidance and Outlook: The filing text does not provide management commentary, financial guidance, or future outlook for Tompkins Financial Corp or its portfolio.
Risks and Contingencies: The filing includes a standard SEC disclaimer stating that the Commission has not reviewed the information for accuracy or completeness. No specific risk factors or contingencies related to the portfolio are disclosed in this table.
Unusual Items: The portfolio includes a significant self-holding in Tompkins Financial Corp stock valued at approximately $466 million. Additionally, there are holdings in preferred stock ETFs and various international ADRs (e.g., Allergan PLC, Accenture PLC).
Investor Verification Checklist
- Self-Holding Concentration: Verify the strategic rationale for holding $465.9 million of Tompkins Financial Corp stock within the managed portfolio.
- ETF Weighting: Confirm the total exposure to passive index funds (e.g., Oppenheimer, Vanguard, iShares) versus active stock picking, as ETFs represent a significant portion of the reported value.
- Voting Rights: Review the "Shared" and "None" voting authority columns to understand the extent of control the manager has over specific large-cap positions.
- International Exposure: Assess the risk profile associated with the significant holdings in international ADRs and international ETFs (e.g., FTSE Europe, MSCI Emerging Markets).
- Quarterly Comparison: Compare this list against the previous quarter's 13F filing to identify specific buy/sell activity, as this document does not provide change metrics.