Business Context and Reporting Period
Company: Tompkins Financial Corp
Filing Type: Form 13F-HR (Quarterly Report of Holdings)
Reporting Period: Ended June 30, 2003
Context: This filing discloses the equity securities held by Tompkins Financial Corp, a registered investment adviser. The report details holdings in over 200 issuers, including a significant position in its own affiliate, Tompkins Trustco Inc.
Key Financial Metrics
Total Portfolio Value: $270,424,000 (Reported in thousands)
Total Shares Held: 7,311,464
Shares with Sole Voting Authority: 6,837,652
Shares with Discretionary/Shared Authority: 473,812
Top Holdings by Value (Selected):
- Tompkins Trustco Inc: $34,266,000 (726,782 shares)
- General Electric Co: $12,928,000 (450,812 shares)
- Johnson & Johnson: $8,435,000 (163,187 shares)
- Exxon Mobil Corp: $11,868,000 (330,601 shares)
- Wal-Mart Stores Inc: $6,106,000 (113,792 shares)
- Microsoft Corp: $4,479,000 (174,823 shares)
- Procter & Gamble Co: $5,188,000 (58,183 shares)
- Pfizer Inc: $7,529,000 (220,592 shares)
- Intel Corp: $5,073,000 (243,951 shares)
- IBM: $6,248,000 (75,745 shares)
Material Changes
Comparison Data: The filing text provided contains only the snapshot of holdings as of June 30, 2003. It does not include the prior quarter's data (March 31, 2003) or a summary of purchases and sales. Therefore, material changes versus the prior comparable period cannot be determined from this document alone.
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: No specific risk factors or contingencies are disclosed in this format. The portfolio composition indicates a diversified strategy with heavy weighting in large-cap technology, healthcare, consumer staples, and financial services sectors. The significant holding in Tompkins Trustco Inc suggests a concentrated exposure to the company's own banking affiliate.
Investor Verification Checklist
- Concentration Risk: Verify the impact of the $34.3 million holding in Tompkins Trustco Inc (approx. 12.7% of total reported value) on the portfolio's overall risk profile.
- Voting Control: Note that while Tompkins Financial Corp holds 7.3 million shares, it has sole voting authority over only 6.8 million shares; verify the implications of the 473,812 shares held with discretionary or shared authority.
- Portfolio Turnover: Cross-reference this filing with the Q1 2003 13F filing to calculate actual turnover and identify significant sector rotations.
- Valuation Context: Confirm the market prices of top holdings (e.g., Cisco, Lucent, Dell) as of June 30, 2003, to understand the portfolio's exposure to the post-dot-com bubble technology sector.