SEC Filing Summary: Tompkins Financial Corp (Form 13F)
Business Context and Reporting Period
This filing is a Form 13F Information Table submitted by Tompkins Financial Corp to the U.S. Securities and Exchange Commission. The reporting period covers holdings as of September 30, 2022. As a Form 13F, this document discloses the equity securities held by the company (likely through its asset management or investment subsidiaries) rather than the operating financial results of the bank itself.
Key Financial Metrics and Portfolio Composition
The filing details a diversified portfolio of equity securities and exchange-traded funds (ETFs). Key metrics derived from the table include:
- Total Reported Value: The filing lists individual positions with values in thousands of dollars. The aggregate value is not explicitly summed in the text, but the portfolio contains hundreds of distinct positions.
- Top Holdings by Value:
- Tompkins Financial Corp (Self-Holding): 1,186,647 shares reported (732,086 Discretionary/Shared, 454,561 Sole).
- WisdomTree Asset Management Inc (EM EX ST-OWNED): 799,826 shares (Sole).
- Apple Inc: 203,893 shares (Sole) + 20,786 shares (Discretionary).
- Microsoft Corp: 94,649 shares (Sole) + 26,474 shares (Discretionary).
- Verizon Communications: 170,888 shares (Sole) + 18,291 shares (Discretionary).
- Amazon.com Inc: 53,871 shares (Sole) + 3,632 shares (Discretionary).
- Asset Classes: The portfolio includes significant allocations to large-cap technology, healthcare, financials, and consumer staples, alongside a heavy weighting in ETFs (e.g., iShares, Vanguard, BlackRock) covering broad market indices, bonds, and specific sectors.
Material Changes and Voting Authority
Note: As this is a static snapshot of holdings for the quarter ended September 30, 2022, the filing text does not provide a direct comparison to the prior period (June 30, 2022) to calculate material changes in position size or value.
Voting Authority: The filing distinguishes between three types of voting authority for each position:
- Sole: The manager has sole authority to vote the shares.
- Shared: Voting authority is shared with other parties.
- None: The manager has no voting authority (often associated with discretionary accounts where the client retains voting rights).
Guidance, Outlook, and Risks
Guidance and Outlook: Form 13F filings are historical disclosures of holdings and do not contain forward-looking guidance, management commentary on future earnings, or strategic outlooks.
Risks and Contingencies: The filing includes a standard disclaimer stating that the SEC has not reviewed the information for accuracy. It does not list specific operational risks, legal contingencies, or unusual items affecting the company's operations.
Important Facts for Investor Verification
- Self-Holding: Tompkins Financial Corp holds a significant position in its own stock (over 1.1 million shares), which may indicate treasury stock management or employee benefit plan holdings.
- ETF Concentration: A substantial portion of the portfolio is invested in ETFs (e.g., WisdomTree, iShares, Vanguard), suggesting a passive or index-tracking strategy for a large segment of assets.
- Discretionary vs. Sole: Many positions are split between "Discretionary" (DFND) and "Sole" authority, indicating the company manages assets for external clients in addition to its own proprietary investments.
- Data Limitations: Investors should note that this document does not reflect the bank's core lending, deposit, or net interest margin performance. For those metrics, refer to the company's Form 10-Q or 10-K.