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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
351 FIRST TRUST EXCH TRADED FUND 2 CONSUMR STAPLE ETF 220 8,000 0.00%
352 FIRST TR EXCHANGE TRADED FD 251 8,000 0.00%
353 STAPLES INC 677 8,000 0.00%
354 ISHARES TR 70 8,000 0.00%
355 ENTERGY CORP NEW 100 7,000 0.00%
356 V F CORP 108 7,000 0.00%
357 Hanger Inc 200 7,000 0.00%
358 BANK MONTREAL QUE 100 7,000 0.00%
359 BROADRIDGE FINL SOLUTIONS IN 200 7,000 0.00%
360 KBR INC 260 7,000 0.00%
361 QUANTA SVCS INC 180 7,000 0.00%
362 HILLSHIRE BRANDS COMPANY 191 7,000 0.00%
363 BAXANO SURGICAL INC COM 5,325 6,000 0.00%
364 FRANCO NEVADA CORP 132 6,000 0.00%
365 PEABODY ENERGY CORP 350 6,000 0.00%
366 GENERAL MTRS CO 170 6,000 0.00%
367 COGNIZANT TECHNOLOGY SOLUTIO 116 6,000 0.00%
368 TRUSTCO BANK CM 842 6,000 0.00%
369 BP PLC 132 6,000 0.00%
370 VANGUARD WORLD FD 50 6,000 0.00%
371 NATURAL RESOURCE PARTNERS 400 6,000 0.00%
372 ISHARES TR 52 5,000 0.00%
373 POWERSHARES DB CMDTY IDX TRA 200 5,000 0.00%
374 SELECT SECTOR SPDR TR 100 5,000 0.00%
375 Bridge Bancorp Inc 200 5,000 0.00%
376 ENBRIDGE ENERGY PARTNERS L P 200 5,000 0.00%
377 NOKIA CORP 700 5,000 0.00%
378 DUN & BRADSTREET CORP DEL NE 50 5,000 0.00%
379 WISDOMTREE TR 75 5,000 0.00%
380 ENERGY TRANSFER PRTNRS L P 100 5,000 0.00%
381 GLOBAL HIGH INCOME FUND INC COM 500 5,000 0.00%
382 SCHWAB CHARLES CORP 170 5,000 0.00%
383 AMERICAN TOWER CORP NEW 59 5,000 0.00%
384 AFLAC INC 79 5,000 0.00%
385 COVANCE INC 48 5,000 0.00%
386 INTL PAPER CO 113 5,000 0.00%
387 ROYAL GOLD INC 63 4,000 0.00%
388 PEPCO HOLDINGS INC 200 4,000 0.00%
389 WISDOMTREE TR 75 4,000 0.00%
390 Crestwood Equity Partners LP 317 4,000 0.00%
391 GENERAL MTRS CO 153 4,000 0.00%
392 TEMPLETON EMERGING COM 250 4,000 0.00%
393 UNILEVER PLC 100 4,000 0.00%
394 YAMANA GOLD INC 400 4,000 0.00%
395 PERMIAN BASIN RTY TR 200 3,000 0.00%
396 GENERAL MTRS CO 153 3,000 0.00%
397 GSV CAP CORP 300 3,000 0.00%
398 KINDER MORGAN INC DEL 105 3,000 0.00%
399 SPDR SERIES TRUST 90 3,000 0.00%
400 URBAN OUTFITTERS INC 80 3,000 0.00%
Page 8 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.