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Institutional Investment Manager
COMMUNITY FINANCIAL SYSTEM, INC.
COMMUNITY FINANCIAL SYSTEM, INC. (CIK: 0000723188) incorporated in Delaware, registered under National Commercial Banks, located at 333 Butternut Drive, Syracuse, NY. Institutional holdings reported to the SEC.

Institutional Holdings (2014Q1)
Portfolio Summary: 423 holdings with a total value of $456,175,000.
#
Name
Shares
Value ($)
%
Options
Notes
101 XL Group plc 440 14,000 0.00%
102 OLIN CORP 500 14,000 0.00%
103 PRICE T ROWE GROUP INC 170 14,000 0.00%
104 MEDICAL PPTYS TRUST INC 1,100 14,000 0.00%
105 ORANGE ADR SPONSORED 1,000 15,000 0.00%
106 S&P GLOBAL INC 200 15,000 0.00%
107 SELECT SECTOR SPDR TR 350 15,000 0.00%
108 MASTERCARD INCORPORATED 205 15,000 0.00%
109 PIMCO DYNAMIC INCOME FD 500 15,000 0.00%
110 ISHARES TR 134 16,000 0.00%
111 UNILEVER N V 400 16,000 0.00%
112 MOODYS CORP 200 16,000 0.00%
113 WGL HLDGS INC COM 400 16,000 0.00%
114 VODAFONE GROUP PLC NEW 452 17,000 0.00%
115 LUMEN TECHNOLOGIES INC 529 17,000 0.00%
116 ICAD INC 2,000 18,000 0.00%
117 YAHOO INC 500 18,000 0.00%
118 FRONTIER COMMUNICATIONS CORP 3,273 18,000 0.00%
119 NOBLE ENERGY INC 250 18,000 0.00%
120 ALLIANT ENERGY CORP 319 18,000 0.00%
121 ISHARES TR 278 19,000 0.00%
122 PAYCHEX INC 447 19,000 0.00%
123 EXPRESS SCRIPTS HLDG CO 250 19,000 0.00%
124 AVON PRODS INC 1,390 20,000 0.00%
125 VANGUARD INDEX FDS 200 20,000 0.00%
126 CITIGROUPINC 410 20,000 0.00%
127 VANGUARD WORLD FD 200 21,000 0.00%
128 ONEOK PARTNERS LP 400 21,000 0.00%
129 VIACOM INC NEW 250 21,000 0.00%
130 HENRY SCHEIN INC 180 21,000 0.00%
131 POWERSHARES ETF TRUST 246 21,000 0.00%
132 THERMO FISHER SCIENTIFIC INC 180 22,000 0.00%
133 PRUDENTIAL FINL INC 265 22,000 0.00%
134 AGL Resources Inc 451 22,000 0.00%
135 VANGUARD WORLD FDS 200 22,000 0.00%
136 KAYNE ANDERSON ENRGY TTL RT FD 800 22,000 0.00%
137 TEVA PHARMACEUTICAL INDS LTD 400 22,000 0.00%
138 ISHARES TR 225 23,000 0.01%
139 NORTHERN TIER ENERGY LP COM UN REPR PART 900 23,000 0.01%
140 TOYOTA MOTOR CORP 200 23,000 0.01%
141 ISHARES INC 495 24,000 0.01%
142 NORTHEASTUTILITI 551 25,000 0.01%
143 VANGUARD WORLD FD 275 25,000 0.01%
144 RAYTHEON CO 250 25,000 0.01%
145 SYMANTEC CORP 1,250 25,000 0.01%
146 GOLDMAN SACHS GROUP INC 150 25,000 0.01%
147 BANK N S HALIFAX 440 26,000 0.01%
148 MARATHON OIL CORP 760 27,000 0.01%
149 VANGUARD WHITEHALL FDS 450 28,000 0.01%
150 Berkshire Hills Bancorp Inc 1,127 29,000 0.01%
Page 3 of 9

Portfolio data is normalized using SEC Form 13F filings, including the Original 13F-HR (0000909012-14-000193, filed 2014.04.30).

From 2023-01-03 onward, the SEC requires values to be reported in nearest dollars. Earlier filings reported values in thousands; therefore, positions shown as $0 in older filings may represent actual values between $0–$999.