Community Financial System

CBU • NYSE

Community Financial System is a banks - regional company in the financial services sector on NYSE, led by Dimitar A. Karaivanov, with a market cap of $3.2B. As of Q3 2025, 74% of shares are held by 249 institutional investors, with BlackRock, Inc. as the largest holder at 14.07%.

President and Chief Executive OfficerDimitar A. Karaivanov

Market Cap$3.2B

Banks - Regional

Financial Services

Employees2.8K

Websitecbna.com

Country

United States of America

Overview

Overview of institutional ownership in CBU as of Q3 2025 with a market cap of $3.1B

All Institutions

Institutions: 249
Value Held: $2.3B
Shares Held: 39.2M
Avg Position: $9.2M
Median Position: $643.0K

Hedge Funds

Hedge Funds: 17
Value Held: $43.6M
Shares Held: 743.8K
Avg Position: $2.6M
Median Position: $910.8K

Ownership Breakdown

Institutional (non-HF)

72.73%

$2.3B

Hedge Funds

1.41%

$43.6M

Retail & Other

25.86%

$801.5M

Based on market cap of $3.1B as of Q3 2025. Institutional (non-HF) excludes hedge funds to avoid double counting.

Biggest Investors

Institutions with the largest positions in CBU as of Q3 2025

Institution	Key People	Position Value	Ownership	Owned Since	Total AUM (Long)
B BlackRock, Inc. Institution	-	$436.1M 0.01% of portfolio	14.07% 7.4M shares	≤ Q2 2013 Held for 12y 5m+	$5.67T
VANGUARD GROUP INC Institution	Salim Ramji CEO	$370.2M 0.01% of portfolio	11.94% 6.3M shares	≤ Q2 2013 Held for 12y 5m+	$6.69T
N Neuberger Berman Group LLC Institution	-	$235.9M 0.17% of portfolio	7.61% 4.0M shares	≤ Q2 2013 Held for 12y 5m+	$136.94B
STATE STREET CORP Institution	Ronald P. O'Hanley CEO	$194.7M 0.01% of portfolio	6.23% 3.3M shares	≤ Q2 2013 Held for 12y 5m+	$2.88T
MORGAN STANLEY RIA/Wealth	Jed Finn CEO	$132.9M 0.01% of portfolio	4.29% 2.3M shares	≤ Q2 2013 Held for 12y 5m+	$1.65T
DIMENSIONAL FUND ADVISORS LP Long Only Manager	David Paul Butler CEO	$106.5M 0.02% of portfolio	3.44% 1.8M shares	≤ Q2 2013 Held for 12y 5m+	$466.32B
GEODE CAPITAL MANAGEMENT LLC ETF Provider	David Kenneth Lane CEO	$73.4M 0.00% of portfolio	2.37% 1.3M shares	≤ Q2 2013 Held for 12y 5m+	$1.57T
FEDERATED INVESTORS INC /PA/ Long Only Manager	Gregory Philip Dulski Chairman	$43.6M 0.08% of portfolio	1.41% 744.3K shares	Q2 2018 Held for 7y 5m	$56.6B
FMR LLC Institution	-	$43.2M 0.00% of portfolio	1.39% 737.2K shares	Q3 2018 Held for 7y 2m	$1.92T
NFJ INVESTMENT GROUP, LLC Long Only Manager	George Robert Aylward CEO	$42.6M 1.47% of portfolio	1.37% 726.1K shares	Q1 2021 Held for 4y 8m	$2.9B

Net Capital Flow

Institutional buying and selling activity for CBU in Q3 2025

Traded: +$35.4M
Buyers: 108
Sellers: 116
Total Bought: +$152.3M
Total Sold: −$116.9M
Avg Position: $8.4M

Biggest Buyers

Institution	Net Bought	Current Position
NFJ INVESTMENT GROUP, LLC Long Only Manager	+$36.4M +620.6K shares	$42.6M 726.1K shares
FMR LLC Institution	+$35.7M +608.0K shares	$43.2M 737.2K shares
BANK OF AMERICA CORP /DE/ Institution	+$21.3M +363.0K shares	$37.3M 636.3K shares
N Neuberger Berman Group LLC Institution	+$13.3M +226.3K shares	$235.9M 4.0M shares
UBS Group AG Institution	+$9.2M +156.0K shares	$16.2M 276.4K shares
STATE STREET CORP Institution	+$5.5M +92.4K shares	$194.7M 3.3M shares
Numerai GP LLC Hedge Fund•Quant	+$4.1M +70.2K shares	$4.1M 70.2K shares
Verition Fund Management LLC Hedge Fund•Multi-Strategy	+$2.7M +46.2K shares	$2.7M 46.2K shares
MORGAN STANLEY RIA/Wealth	+$2.5M +42.0K shares	$132.9M 2.3M shares
Riggs Asset Managment Co. Inc. RIA/Wealth	+$2.4M +41.8K shares	$2.8M 47.8K shares

Biggest Sellers

Institution	Net Sold	Current Position
FJ Capital Management LLC Hedge Fund•Long/Short	−$15.4M −270.2K shares	Sold Off 0 shares
Invesco Ltd. ETF Provider	−$10.9M −185.3K shares	$8.9M 151.9K shares
B BlackRock, Inc. Institution	−$9.5M −162.3K shares	$436.1M 7.4M shares
B BASSWOOD CAPITAL MANAGEMENT, L.L.C. Hedge Fund•Long/Short	−$8.5M −144.8K shares	$7.2M 122.2K shares
Jacobi Capital Management LLC RIA/Wealth	−$8.0M −135.9K shares	$4.1M 70.1K shares
Q Qube Research & Technologies Ltd Institution	−$6.0M −102.9K shares	$3.2M 55.0K shares
UBS GLOBAL ASSET MANAGEMENT AMERICAS INC Long Only Manager	−$4.9M −83.2K shares	$6.5M 110.3K shares
VANGUARD GROUP INC Institution	−$4.5M −77.2K shares	$370.2M 6.3M shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	−$3.4M −58.7K shares	$1.8M 30.8K shares
BALYASNY ASSET MANAGEMENT LLC Hedge Fund•Multi-Strategy	−$3.1M −52.8K shares	$17.7M 302.1K shares

Entry and Exit Activity

Institutions that initiated new positions or completely exited CBU in Q3 2025

New Positions: 9
New Value: $910.3K
Exited Positions: 23
Exited Value: $31.0M

New Positions

Institution	Position Value
Quantinno Capital Management LP Hedge Fund•Market Neutral	$299.0K 5.1K shares
F Freestone Grove Partners LP Hedge Fund•Multi-Strategy	$280.1K 4.8K shares
KESTRA PRIVATE WEALTH SERVICES, LLC RIA/Wealth	$244.0K 4.2K shares
Sontag Advisory, LLC RIA/Wealth	$47.3K 806.0 shares
S Salomon & Ludwin, LLC Institution	$23.2K 394.0 shares
R Root Financial Partners, LLC RIA/Wealth	$8.7K 149.0 shares
Transamerica Financial Advisors, Inc. Institution	$6.9K 118.0 shares
R Retirement Wealth Solutions LLC RIA/Wealth	$1.2K 20.0 shares
Cloud Capital Management, LLC RIA/Wealth	- 11.0 shares

Exited Positions

Institution	Previous Position
FJ Capital Management LLC Hedge Fund•Long/Short	$15.4M 270.2K shares
ALGERT COLDIRON INVESTORS LLC Hedge Fund•Quant	$2.9M 51.3K shares
TUDOR INVESTMENT CORP ET AL Hedge Fund•Multi-Strategy	$2.9M 50.3K shares
Waterford Advisors, LLC RIA/Wealth	$2.6M 64.1K shares
T TEXAS PERMANENT SCHOOL FUND Institution	$1.3M 23.2K shares
Y Y-Intercept Ltd Institution	$1.1M 19.1K shares
D Dynamic Technology Lab Private Ltd Institution	$1.0M 17.7K shares
OCCUDO QUANTITATIVE STRATEGIES LP Hedge Fund•Market Neutral	$761.2K 13.4K shares
NGAM ADVISORS, L.P. Long Only Manager	$686.6K 12.1K shares
Aquatic Capital Management LLC Hedge Fund•Quant	$604.4K 10.6K shares

Options Activity

Institutions with the largest Call and Put options positions in CBU as of Q3 2025

Call Positions: 1
Call Value: $392.9K
Put Positions: 1
Put Value: $1.4M

Call Positions

Institution	Position Value
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$392.9K 67.0 contracts

Put Positions

Institution	Position Value
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$1.4M 240.0 contracts

Most Committed Institutions

Institutions with CBU as the highest % of their portfolio as of Q3 2025

Institution	Key People	Portfolio Weight	Ownership	Owned Since	Total AUM (Long)
NFJ INVESTMENT GROUP, LLC Long Only Manager	George Robert Aylward CEO	1.47% $42.6M	1.37% 726.1K shares	Q1 2021 Held for 4y 8m	$2.9B
C Community Bank, N.A. Institution	-	0.84% $7.0M	0.22% 118.6K shares	Q4 2014 Held for 10y 11m	$826.5M
D DEPRINCE RACE & ZOLLO INC Long Only Manager	Jr. Victor Zollo CEO	0.68% $34.3M	1.11% 585.5K shares	Q4 2024 Held for 11 months	$5.0B
Riggs Asset Managment Co. Inc. RIA/Wealth	Robert Joseph Graham Founder	0.61% $2.8M	0.09% 47.8K shares	Q4 2013 Held for 11y 11m	$459.4M
Numerai GP LLC Hedge Fund•Quant	Richard Malone Craib CEO	0.58% $4.1M	0.13% 70.2K shares	Q3 2025 Held for 2 months	$707.9M
Waldron, LP RIA/Wealth	John Joseph Waldron CEO	0.50% $12.4M	0.40% 210.2K shares	Q3 2019 Held for 6y 2m	$2.5B
A Ausbil Investment Management Ltd Long Only Manager	Mark Gregory Knight CEO	0.35% $657.4K	0.02% 11.3K shares	Q2 2024 Held for 1y 5m	$187.5M
B BASSWOOD CAPITAL MANAGEMENT, L.L.C. Hedge Fund•Long/Short	Bennett David Lindenbaum Managing Partner	0.33% $7.2M	0.23% 122.2K shares	Q2 2025 Held for 5 months	$2.2B
SEGALL BRYANT & HAMILL Long Only Manager	Carolyn B Goldhaber President	0.32% $23.9M	0.77% 407.5K shares	Q2 2018 Held for 7y 5m	$7.5B
A Alliance Wealth Advisors, LLC RIA/Wealth	Patrick Neal Clark Managing Partner	0.32% $626.0K	0.02% 10.7K shares	Q4 2020 Held for 4y 11m	$198.6M

Hedge Fund Spotlight

Discover hedge funds investing in CBU

TWO SIGMA INVESTMENTS LLC

Hedge Fund • Multi-Strategy

Portfolio ManagerScott David Hoffman

Portfolio Value: $62.0B
Positions: 3,252
Last Reported: Q3 2025

Sector Allocation

Position in Community Financial System

Market Value: $839.5K
Shares Held: 14.3K
Portfolio Weight: 0.00%
Owned Since: 2024-Q2

Top Holding	Sector	Market Value	Weight
1 SPDR S&P 500 ETF Trust SPY	ETF ETF	$680.4M	1.10%
2 Financial Select Sector SPDR Fund XLF	ETF ETF	$582.6M	0.94%
3 Consumer Staples Select Sector SPDR Fund XLP	ETF ETF	$489.6M	0.79%