Canandaigua National Bank & Trust 13F-HR Quarterly holdings report by institutional manager

The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete.
The reader should not assume that the information is accurate and complete.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F

FORM 13F INFORMATION TABLE

OMB APPROVAL

OMB Number:		3235-0006
Expires:	Oct 31, 2018
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COLUMN 1	COLUMN 2	COLUMN 3	COLUMN 4	COLUMN 5			COLUMN 6	COLUMN 7	COLUMN 8
			VALUE	SHRS OR	SH/	PUT/	INVESTMENT	OTHER	VOTING AUTHORITY
NAME OF ISSUER	TITLE OF CLASS	CUSIP	(x$1000)	PRN AMT	PRN	CALL	DISCRETION	MANAGER	SOLE	SHARED	NONE
ACS Actividades de Construccion	Com	00089H106	220	28,251	SH		SOLE	0	497	0	27,754
Aflac, Inc.	Com	001055102	1,516	34,654	SH		SOLE	0	34,654	0	0
AIA Group Ltd	Com	001317205	261	7,714	SH		SOLE	0	129	0	7,585
AT&T Inc.	Com	00206R102	4,923	138,101	SH		SOLE	0	120,532	3,942	13,627
AXT Inc.	Com	00246W103	92	12,672	SH		SOLE	0	0	0	12,672
Abbott Laboratories	Com	002824100	2,631	43,915	SH		SOLE	0	37,714	135	6,066
Abbvie Inc	Com	00287Y109	3,403	35,953	SH		SOLE	0	33,396	332	2,225
Adobe Sys Inc.	Com	00724F101	4,956	22,937	SH		SOLE	0	546	0	22,391
Aetna Inc New	Com	00817Y108	1,684	9,966	SH		SOLE	0	9,528	0	438
Affiliated Managers Group Inc	Com	008252108	225	1,185	SH		SOLE	0	200	0	985
Air Products & Chemicals Inc	Com	009158106	262	1,645	SH		SOLE	0	1,459	100	86
Airbus Group	Com	009279100	264	9,147	SH		SOLE	0	178	0	8,969
Align Technology Inc	Com	016255101	2,028	8,075	SH		SOLE	0	0	0	8,075
Allscripts Healthcare Solutions	Com	01988P108	145	11,762	SH		SOLE	0	0	0	11,762
Allstate Corp.	Com	020002101	1,295	13,656	SH		SOLE	0	5,771	0	7,885
Alphabet Inc Class C	Com	02079K107	5,106	4,949	SH		SOLE	0	1,678	15	3,256
Alphabet Inc Class A	Com	02079K305	3,359	3,239	SH		SOLE	0	1,738	15	1,486
Altria Group Inc	Com	02209S103	1,565	25,120	SH		SOLE	0	8,206	0	16,914
Amazon Com Inc	Com	023135106	867	599	SH		SOLE	0	557	0	42
ADR AMBEV SA Sponsored	Com	02319V103	257	35,328	SH		SOLE	0	633	0	34,695
American Eagle Outfitters	Com	02553E106	299	14,990	SH		SOLE	0	0	0	14,990
American Express Co	Com	025816109	1,476	15,821	SH		SOLE	0	14,340	0	1,481
American Financial Group Inc.	Com	025932104	1,347	12,000	SH		SOLE	0	12,000	0	0
Amern Intl Group Inc New	Com	026874784	394	7,236	SH		SOLE	0	4,600	0	2,636
American Water Works Company	Com	030420103	514	6,257	SH		SOLE	0	5,032	0	1,225
Ameriprise Finl Inc.	Com	03076C106	223	1,509	SH		SOLE	0	1,509	0	0
Ametek Inc	Com	031100100	239	3,150	SH		SOLE	0	0	0	3,150
Amgen Inc.	Com	031162100	1,385	8,123	SH		SOLE	0	7,325	232	566
Analog Devices Inc.	Com	032654105	300	3,288	SH		SOLE	0	1,599	0	1,689
Apple Inc	Com	037833100	8,676	51,711	SH		SOLE	0	46,942	0	4,769
Applied Materials	Com	038222105	278	5,005	SH		SOLE	0	4,865	0	140
Arcelormittal New	Com	03938L203	221	6,954	SH		SOLE	0	154	0	6,800
Archer Daniels Midland Co	Com	039483102	784	18,071	SH		SOLE	0	348	0	17,723
Artisan International Value Investor	Com	04314H881	385	10,293	SH		SOLE	0	10,293	0	0
Astrazeneca Plc Adr	Com	046353108	274	7,833	SH		SOLE	0	1,008	0	6,825
Automatic Data Processing Inc	Com	053015103	3,056	26,929	SH		SOLE	0	4,110	240	22,579
Avery Dennison Corp	Com	053611109	333	3,137	SH		SOLE	0	0	0	3,137
Axa SA Sponsored Adr	Com	054536107	213	8,019	SH		SOLE	0	136	0	7,883
BB&T Corp	Com	054937107	619	11,901	SH		SOLE	0	8,623	0	3,278
Bae Sys Plc Sponsored Adr	Com	05523R107	221	6,777	SH		SOLE	0	115	0	6,662
BCE Inc New	Com	05534B760	359	8,348	SH		SOLE	0	100	0	8,248
BHP Billiton Plc	Com	05545E209	366	9,208	SH		SOLE	0	157	0	9,051
BP Plc Sponsored Adr	Com	055622104	363	8,962	SH		SOLE	0	8,386	0	576
Baidu Inc Sponsored Adr	Com	056752108	326	1,461	SH		SOLE	0	27	0	1,434
Banco De Santander Cent Hispano S A Adr	Com	05964H105	219	33,403	SH		SOLE	0	0	0	33,403
Bank Amer Corp	Com	060505104	2,602	86,752	SH		SOLE	0	85,727	0	1,025
Bank of the Ozarks, Inc.	Com	063904106	241	4,994	SH		SOLE	0	94	0	4,900
Bank New York Mellon Corp	Com	064058100	397	7,710	SH		SOLE	0	7,600	0	110
Barnes Group Inc.	Com	067806109	318	5,305	SH		SOLE	0	0	0	5,305
Baxter International, Inc.	Com	071813109	678	10,432	SH		SOLE	0	10,432	0	0
Bayer Ag Sponsored Adr	Com	072730302	224	7,929	SH		SOLE	0	0	0	7,929
Becton Dickinson & Co	Com	075887109	919	4,240	SH		SOLE	0	3,740	0	500
Berkshire Hathaway Inc Cl B	Com	084670702	1,181	5,922	SH		SOLE	0	5,742	0	180
Berkshire Hills Bancorp Inc	Com	084680107	209	5,500	SH		SOLE	0	0	0	5,500
BHP Billiton Ltd	Com	088606108	1,208	27,198	SH		SOLE	0	27,056	142	0
Biogen Inc.	Com	09062X103	276	1,007	SH		SOLE	0	458	0	549
Blackrock Inc	Com	09247X101	2,171	4,007	SH		SOLE	0	3,968	0	39
Blackrock New York Muni Opport Instl	Com	09253A763	133	11,845	SH		SOLE	0	11,845	0	0
Boeing Co	Com	097023105	3,148	9,602	SH		SOLE	0	8,597	0	1,005
Booking Hldgs Inc	Com	09857L108	1,825	877	SH		SOLE	0	9	0	868
Bristol-Myers Squibb Co.	Com	110122108	3,578	56,569	SH		SOLE	0	53,823	550	2,196
British Amern Tob Plc Sponsored Adr	Com	110448107	471	8,165	SH		SOLE	0	0	0	8,165
Burlington Stores Inc	Com	122017106	414	3,110	SH		SOLE	0	0	0	3,110
CIGNA Corporation	Com	125509109	759	4,526	SH		SOLE	0	161	0	4,365
Ck Hutchison Hldgs Ltd	Com	12562Y100	207	17,292	SH		SOLE	0	291	0	17,001
CME Group Inc Class A	Com	12572Q105	353	2,180	SH		SOLE	0	330	0	1,850
CSX Corp	Com	126408103	596	10,701	SH		SOLE	0	10,601	0	100
CVS Health Corp	Com	126650100	2,779	44,678	SH		SOLE	0	43,011	58	1,609
Cambrex Corp	Com	132011107	322	6,152	SH		SOLE	0	0	0	6,152
Canadian Natl Ry Co	Com	136375102	867	11,855	SH		SOLE	0	10,765	900	190
Canadian Nat Res Ltd	Com	136385101	235	7,454	SH		SOLE	0	115	0	7,339
Carlisle Cos Inc	Com	142339100	928	8,888	SH		SOLE	0	8,772	0	116
Carlsberg Sponsored ADR	Com	142795202	243	10,209	SH		SOLE	0	174	0	10,035
Carrefour	Com	144430204	195	47,158	SH		SOLE	0	797	0	46,361
Carter's Inc	Com	146229109	325	3,124	SH		SOLE	0	0	0	3,124
Caterpillar Inc	Com	149123101	2,589	17,570	SH		SOLE	0	16,890	0	680
Celgene Corp	Com	151020104	1,500	16,812	SH		SOLE	0	16,619	0	193
Charles River Laboratories	Com	159864107	330	3,096	SH		SOLE	0	0	0	3,096
Chevron Corporation	Com	166764100	7,266	63,713	SH		SOLE	0	58,855	195	4,663
Church & Dwight Co., Inc.	Com	171340102	455	9,030	SH		SOLE	0	2,263	0	6,767
Cisco Systems	Com	17275R102	3,819	89,038	SH		SOLE	0	70,709	0	18,329
Cintas Corp	Com	172908105	624	3,658	SH		SOLE	0	950	0	2,708
Citigroup Inc Com New	Com	172967424	1,870	27,707	SH		SOLE	0	5,813	0	21,894
Clorox Co	Com	189054109	1,188	8,928	SH		SOLE	0	8,928	0	0
Coca Cola Co	Com	191216100	4,192	96,516	SH		SOLE	0	91,845	405	4,266
Cognex Corp	Com	192422103	283	5,434	SH		SOLE	0	0	0	5,434
Cohu Inc.	Com	192576106	205	8,968	SH		SOLE	0	0	0	8,968
Colgate Palmolive Co	Com	194162103	1,340	18,692	SH		SOLE	0	18,447	0	245
Comcast Corp New Cl A	Com	20030N101	2,081	60,907	SH		SOLE	0	26,395	140	34,372
Community Bank System Inc	Com	203607106	225	4,203	SH		SOLE	0	4,203	0	0
ConocoPhillips	Com	20825C104	1,790	30,190	SH		SOLE	0	22,765	0	7,425
Constellation Brands Inc Cl A	Com	21036P108	11,044	48,456	SH		SOLE	0	47,061	0	1,395
Constellation Brands Inc Cl B	Com	21036P207	1,102	4,800	SH		SOLE	0	4,800	0	0
Continental Building Products Inc	Com	211171103	254	8,882	SH		SOLE	0	0	0	8,882
Cooper Cos Inc.	Com	216648402	383	1,673	SH		SOLE	0	24	0	1,649
Copart Inc	Com	217204106	395	7,762	SH		SOLE	0	73	0	7,689
Corning Inc.	Com	219350105	1,567	56,218	SH		SOLE	0	44,243	600	11,375
Costco Whsl Corp New	Com	22160K105	288	1,531	SH		SOLE	0	1,361	0	170
Curaegis Technologies Inc	Com	23127Q102	5	14,900	SH		SOLE	0	14,900	0	0
Dbs Group Hldgs Ltd Sponsored Adr	Com	23304Y100	232	2,760	SH		SOLE	0	62	0	2,698
DFA Intermediate Govt Fixed-Income I	Com	233203876	662	54,657	SH		SOLE	0	51,395	0	3,262
DNB ASA	Com	23328E106	225	11,633	SH		SOLE	0	214	0	11,419
DXC Technologies Co	Com	23355L106	653	6,491	SH		SOLE	0	300	0	6,191
Danaher Corp	Com	235851102	2,419	24,710	SH		SOLE	0	17,641	0	7,069
Darden Restaurants Inc	Com	237194105	1,650	19,356	SH		SOLE	0	16,586	2,750	20
Deere & Co	Com	244199105	2,275	14,645	SH		SOLE	0	12,980	40	1,625
Deutsche Boerse	Com	251542106	238	17,515	SH		SOLE	0	0	0	17,515
Deutsche Post AG Sponsored ADR	Com	25157Y202	228	5,216	SH		SOLE	0	0	0	5,216
Diageo Plc New Adr	Com	25243Q205	329	2,430	SH		SOLE	0	0	0	2,430
Digital Rlty Tr Inc	Com	253868103	1,390	13,191	SH		SOLE	0	12,186	425	580
Disney Walt Co	Com	254687106	4,576	45,562	SH		SOLE	0	44,470	125	967
Dollar General Corp	Com	256677105	2,016	21,553	SH		SOLE	0	104	0	21,449
Dominion Energy Inc	Com	25746U109	259	3,846	SH		SOLE	0	3,646	0	200
Dover Corp	Com	260003108	265	2,700	SH		SOLE	0	2,700	0	0
DowDuPont Inc	Com	26078J100	6,113	95,943	SH		SOLE	0	79,249	1,894	14,800
Duke Energy Corp New	Com	26441C204	1,431	18,467	SH		SOLE	0	8,106	0	10,361
EOG Resources Inc	Com	26875P101	763	7,249	SH		SOLE	0	122	0	7,127
E.ON AG	Com	268780103	236	21,280	SH		SOLE	0	365	0	20,915
Eastman Chemical Co.	Com	277432100	2,418	22,905	SH		SOLE	0	20,195	0	2,710
Eaton Vance Floating Rate Class I	Com	277911491	5,518	609,737	SH		SOLE	0	521,601	0	88,136
eBay, Inc.	Com	278642103	257	6,398	SH		SOLE	0	1,982	0	4,416
Emerson Elec Co	Com	291011104	1,310	19,179	SH		SOLE	0	18,754	0	425
Enbridge Inc	Com	29250N105	225	7,160	SH		SOLE	0	7,160	0	0
Encompass Health Corp	Com	29261A100	360	6,290	SH		SOLE	0	0	0	6,290
Engie Sponsored ADR	Com	29286D105	238	14,295	SH		SOLE	0	253	0	14,042
Entergy Corp	Com	29364G103	409	5,195	SH		SOLE	0	5,195	0	0
Essilor Int'l Spons ADR	Com	297284200	230	3,410	SH		SOLE	0	61	0	3,349
Exelon Corp	Com	30161N101	263	6,740	SH		SOLE	0	5,363	0	1,377
Express Scripts Hldg Co	Com	30219G108	2,144	31,032	SH		SOLE	0	25,840	0	5,192
Exxon-Mobil Corp	Com	30231G102	19,500	261,359	SH		SOLE	0	232,599	5,924	22,836
FPA New Income	Com	302544101	45,594	4,563,922	SH		SOLE	0	4,558,763	0	5,158
Facebook	Com	30303M102	3,253	20,356	SH		SOLE	0	8,296	0	12,060
Fast Retailing Co. Ltd	Com	31188H101	250	6,352	SH		SOLE	0	0	0	6,352
Federated Total Return Instl Shs	Com	31428Q101	247	23,128	SH		SOLE	0	2,622	0	20,506
FedEx Corp.	Com	31428X106	379	1,577	SH		SOLE	0	1,537	0	40
Fidelity Natl Information Svcs Inc.	Com	31620M106	911	9,456	SH		SOLE	0	82	0	9,374
Fifth Third Bancorp	Com	316773100	201	6,342	SH		SOLE	0	6,342	0	0
Financial Instn 8.48 Ser B 1	Pfd Stk	317585305	3,322	33,215	SH		SOLE	0	33,215	0	0
Financial Institutions, Inc	Com	317585404	13,313	449,752	SH		SOLE	0	449,452	0	300
First Ctzns Bancshares Inc Ncl A	Com	31946M103	398	962	SH		SOLE	0	0	0	962
First Republic Bank	Com	33616C100	423	4,565	SH		SOLE	0	0	0	4,565
Fiserv Inc.	Com	337738108	1,015	14,235	SH		SOLE	0	6,476	0	7,759
Ford Motor Company	Com	345370860	384	34,650	SH		SOLE	0	29,650	0	5,000
Fortive Corp	Com	34959J108	445	5,743	SH		SOLE	0	5,743	0	0
Freeport-McMoRan Copper & Gold	Com	35671D857	1,234	70,229	SH		SOLE	0	70,229	0	0
Gartner Inc	Com	366651107	1,974	16,783	SH		SOLE	0	0	0	16,783
General Dynamics Corp	Com	369550108	2,170	9,823	SH		SOLE	0	9,823	0	0
General Electric Co.	Com	369604103	3,883	288,062	SH		SOLE	0	279,207	325	8,530
General Mills Inc	Com	370334104	1,795	39,839	SH		SOLE	0	23,275	3,500	13,064
Genuine Parts Co	Com	372460105	256	2,855	SH		SOLE	0	100	0	2,755
Gilead Sci Inc.	Com	375558103	1,679	22,276	SH		SOLE	0	18,036	0	4,240
Glaxo Smithkline Sponsored Adr	Com	37733W105	254	6,491	SH		SOLE	0	6,491	0	0
Goldman Sachs Group Inc.	Com	38141G104	2,835	11,255	SH		SOLE	0	6,030	0	5,225
HSBC Hldgs Plc Spons Adr New	Com	404280406	502	10,529	SH		SOLE	0	521	0	10,008
HP Inc	Com	40434L105	274	12,492	SH		SOLE	0	2,825	0	9,667
Halliburton Co	Com	406216101	232	4,953	SH		SOLE	0	2,773	0	2,180
Harris Corp Del	Com	413875105	408	2,527	SH		SOLE	0	2,527	0	0
Henry Jack & Assoc Inc	Com	426281101	422	3,489	SH		SOLE	0	33	0	3,456
Home Depot Inc	Com	437076102	2,082	11,680	SH		SOLE	0	10,909	20	751
Honeywell Intl Inc	Com	438516106	2,985	20,658	SH		SOLE	0	14,696	0	5,962
UIT Hutton Tel	Com	447900101	37	10,000	SH		SOLE	0	10,000	0	0
Hyatt Hotels Corp	Com	448579102	362	4,744	SH		SOLE	0	0	0	4,744
Hyster-Yale Matls Handling Inc Cl A	Com	449172105	1,802	25,770	SH		SOLE	0	25,770	0	0
Hyster Yale B shares	Com	449172204	2,446	32,000	SH		SOLE	0	32,000	0	0
IAC / Interactive Corp	Com	44919P508	720	4,607	SH		SOLE	0	3,206	0	1,401
IPG Photonics Corp	Com	44980X109	348	1,490	SH		SOLE	0	0	0	1,490
Illinois Tool Works Inc	Com	452308109	710	4,531	SH		SOLE	0	1,924	0	2,607
Intel Corp.	Com	458140100	5,428	104,221	SH		SOLE	0	94,924	0	9,297
Intercontinental Exchange Inc	Com	45866F104	556	7,673	SH		SOLE	0	7,583	0	90
Intl Business Machines Corp	Com	459200101	6,138	40,006	SH		SOLE	0	38,145	993	868
Intl Flavors & Fragrances Inc	Com	459506101	468	3,420	SH		SOLE	0	865	0	2,555
ADR Intesa SanPaolo SPA	Com	46115H107	241	11,071	SH		SOLE	0	188	0	10,883
Intuitive Surgical	Com	46120E602	942	2,283	SH		SOLE	0	2,208	75	0
Ishares MSCI World ETF	Com	464286392	446	5,114	SH		SOLE	0	5,114	0	0
Ishares MSCI Canada Index	Com	464286509	561	20,373	SH		SOLE	0	20,373	0	0
MFC Ishares Tr Barclays Tips Bd Fd	Com	464287176	3,707	32,789	SH		SOLE	0	29,430	187	3,172
Ishares Core S P 500 ETF	Com	464287200	755	2,846	SH		SOLE	0	2,134	0	712
Ishares MSCI Emerging Markets	Com	464287234	3,765	77,975	SH		SOLE	0	72,156	0	5,819
Ishares S&P 500 Growth Index	Com	464287309	298	1,921	SH		SOLE	0	1,921	0	0
Ishares S&P 500 Value Index	Com	464287408	459	4,194	SH		SOLE	0	2,898	411	885
Ishares MSCI EAFE Index Fund	Com	464287465	15,146	217,359	SH		SOLE	0	209,842	1,902	5,615
Ishares Russell Midcap Value Index Fund	Com	464287473	449	5,200	SH		SOLE	0	700	0	4,500
Ishares Russell Midcap Growth Index Fund	Com	464287481	690	5,609	SH		SOLE	0	309	0	5,300
Ishares Russell MidCap Index Fund	Com	464287499	4,234	20,511	SH		SOLE	0	20,275	111	125
Ishares TR Core S&P Mid-Cap ETF	Com	464287507	1,326	7,069	SH		SOLE	0	6,269	0	800
Ishares Russell 1000 Value Index Fund	Com	464287598	1,604	13,373	SH		SOLE	0	13,193	0	180
iShares Russell 1000 Growth	Com	464287614	1,008	7,410	SH		SOLE	0	7,410	0	0
Ishares Russell 2000 Value	Com	464287630	313	2,565	SH		SOLE	0	65	0	2,500
Ishares Russell 2000 Growth	Com	464287648	610	3,201	SH		SOLE	0	201	0	3,000
Ishares Tr Russell 2000 Index	Com	464287655	3,208	21,129	SH		SOLE	0	20,884	0	245
Ishares Tr Russell 3000	Com	464287689	258	1,651	SH		SOLE	0	1,651	0	0
Ishares TR Core S&P Small-Cap ETF	Com	464287804	250	3,240	SH		SOLE	0	2,040	0	1,200
MFC iShares Tr S&P Europe 350	Com	464287861	755	16,196	SH		SOLE	0	14,296	0	1,900
Ishares All Country Asia Ex-Japan	Com	464288182	2,742	35,361	SH		SOLE	0	35,144	217	0
Ishares MSCI EAFE Small Cap Index	Com	464288273	202	3,095	SH		SOLE	0	0	0	3,095
iShares S&P US Preferred ETF	Com	464288687	3,041	80,977	SH		SOLE	0	80,827	0	150
Ishares Tr Floating Rate Note ETF	Com	46429B655	475	9,317	SH		SOLE	0	592	0	8,725
Ishares Tr MSCI USA Mini USA ETF	Com	46429B697	255	4,906	SH		SOLE	0	4,906	0	0
Ishares Tr Core MSCI	Com	46432F842	470	7,131	SH		SOLE	0	2,891	0	4,240
Ishares Inc ETF	Com	46434G103	614	10,519	SH		SOLE	0	904	0	9,615
JP Morgan Chase & Co	Com	46625H100	15,353	139,611	SH		SOLE	0	109,178	4,135	26,298
Jacobs Engineering Group,Inc.	Com	469814107	244	4,128	SH		SOLE	0	4,128	0	0
Johnson & Johnson	Com	478160104	16,019	124,999	SH		SOLE	0	105,641	920	18,438
JP Morgan Strategic Income Opps- Select	Com	4812A4351	185	16,019	SH		SOLE	0	16,019	0	0
JPMorgan Core Bond Select Shares	Com	4812C0381	1,779	156,593	SH		SOLE	0	156,593	0	0
Julius Baer Group LTD-UN ADR	Com	48137C108	242	19,703	SH		SOLE	0	374	0	19,329
KVH Inds Inc	Com	482738101	159	15,356	SH		SOLE	0	0	0	15,356
Kellogg Co	Com	487836108	855	13,159	SH		SOLE	0	13,159	0	0
Kimberly Clark Corp	Com	494368103	1,959	17,785	SH		SOLE	0	10,763	150	6,872
Kohls Corp	Com	500255104	370	5,648	SH		SOLE	0	3,818	102	1,728
Kraft Heinz Co	Com	500754106	367	5,884	SH		SOLE	0	5,298	0	586
LCI Industries	Com	50189K103	227	2,184	SH		SOLE	0	0	0	2,184
LSI Industries Inc	Com	50216C108	83	10,258	SH		SOLE	0	0	0	10,258
Lamb Weston Holdings	Com	513272104	374	6,423	SH		SOLE	0	0	0	6,423
Lazard Emerging Mkts Equity Port Instl	Com	52106N889	7,330	358,809	SH		SOLE	0	328,403	0	30,406
BrandywineGlobal Global Opportunities Bond Fd	Com	524686334	7,726	692,884	SH		SOLE	0	609,035	0	83,849
Lennar Corporation	Com	526057104	595	10,092	SH		SOLE	0	10,092	0	0
Lennox International Inc.	Com	526107107	422	2,067	SH		SOLE	0	24	0	2,043
Lexington Rlty Tr Com	Com	529043101	112	14,200	SH		SOLE	0	0	0	14,200
Liberty Ppty Tr Sh Ben	Com	531172104	217	5,464	SH		SOLE	0	0	0	5,464
Life Storage Inc REIT	Com	53223X107	361	4,325	SH		SOLE	0	4,325	0	0
Lilly Eli & Co	Com	532457108	947	12,234	SH		SOLE	0	9,161	0	3,073
Lloyds TSB Group plc	Com	539439109	234	62,797	SH		SOLE	0	0	0	62,797
Lockheed Martin Corp Com	Com	539830109	4,038	11,949	SH		SOLE	0	11,590	217	142
Lowes Companies Inc	Com	548661107	2,315	26,382	SH		SOLE	0	17,217	665	8,500
Lyons Bancorp, Inc.	Com	552112104	306	8,166	SH		SOLE	0	4,400	0	3,766
M&T Bk Corp	Com	55261F104	360	1,950	SH		SOLE	0	1,850	0	100
MFS International Value R6	Com	552746349	1,946	45,261	SH		SOLE	0	45,261	0	0
MKS Instruments Inc Com	Com	55306N104	623	5,389	SH		SOLE	0	0	0	5,389
MarketAxess Holdings New	Com	57060D108	435	2,000	SH		SOLE	0	0	0	2,000
Masco Industries Inc	Com	574599106	717	17,728	SH		SOLE	0	5,183	0	12,545
Mastercard Inc Cl A	Com	57636Q104	2,033	11,608	SH		SOLE	0	1,508	0	10,100
McCormick & Co Inc	Com	579780206	1,143	10,747	SH		SOLE	0	7,019	0	3,728
McDonalds Corp	Com	580135101	6,028	38,546	SH		SOLE	0	38,206	0	340
McKesson Corporation	Com	58155Q103	645	4,576	SH		SOLE	0	679	0	3,897
Merck & Co Inc New	Com	58933Y105	4,875	89,500	SH		SOLE	0	80,532	0	8,968
Metlife, Inc.	Com	59156R108	2,300	50,110	SH		SOLE	0	29,667	140	20,303
Mettler-Toledo Intl Inc	Com	592688105	397	691	SH		SOLE	0	0	0	691
Microsoft Corporation	Com	594918104	14,162	155,171	SH		SOLE	0	113,092	1,359	40,720
Microchip Technology Inc.	Com	595017104	983	10,757	SH		SOLE	0	9,802	125	830
Mitsubishi Estate Co	Com	606783207	214	12,980	SH		SOLE	0	194	0	12,786
Mondelez Intl Inc	Com	609207105	1,175	28,154	SH		SOLE	0	26,695	0	1,459
Federated Government Money Mkt Obligs Tr	Com	60934N104	3,279	3,278,628	SH		SOLE	0	3,278,628	0	0
Monolithic Power Systems	Com	609839105	360	3,108	SH		SOLE	0	38	0	3,070
Morgan Stanley Dean Witter & Co.	Com	617446448	1,889	35,010	SH		SOLE	0	34,494	119	397
Nasdaq Stk Mkt Inc	Com	631103108	565	6,555	SH		SOLE	0	61	0	6,494
National Oilwell Varco, Inc.	Com	637071101	339	9,221	SH		SOLE	0	2,510	0	6,711
Nektar Therapeutics	Com	640268108	219	2,063	SH		SOLE	0	0	0	2,063
Nestle Adr	Com	641069406	3,068	38,845	SH		SOLE	0	8,165	0	30,680
NextEra Energy Inc	Com	65339F101	3,730	22,839	SH		SOLE	0	19,649	0	3,190
Nike, Inc. Class B	Com	654106103	4,434	66,736	SH		SOLE	0	20,771	0	45,965
Nokia Corp Sponsored Finland Adr	Com	654902204	55	10,000	SH		SOLE	0	10,000	0	0
Norfolk Southern Corp	Com	655844108	3,386	24,935	SH		SOLE	0	24,260	75	600
Northrup Grumman Corp.	Com	666807102	880	2,522	SH		SOLE	0	261	0	2,261
Novartis Ag Sponsored Adr	Com	66987V109	510	6,303	SH		SOLE	0	2,743	0	3,560
O'Reilly Automotive Inc New Com	Com	67103H107	2,139	8,646	SH		SOLE	0	85	0	8,561
Occidental Petroleum	Com	674599105	632	9,722	SH		SOLE	0	2,063	0	7,659
Old Dominion Fght Lines Inc	Com	679580100	376	2,558	SH		SOLE	0	0	0	2,558
On Assignment, Inc Com	Com	682159108	320	3,911	SH		SOLE	0	0	0	3,911
Oracle Corporation	Com	68389X105	7,886	172,372	SH		SOLE	0	111,051	2,700	58,621
Orange	Com	684060106	217	12,686	SH		SOLE	0	214	0	12,472
Otsuka Holdings Co	Com	689164101	238	9,549	SH		SOLE	0	174	0	9,375
Owens Ill Inc.	Com	690768403	1,018	46,996	SH		SOLE	0	46,996	0	0
Pimco High Yield Instl	Com	693390841	142	16,271	SH		SOLE	0	16,271	0	0
PNC Financial Services Group	Com	693475105	1,117	7,384	SH		SOLE	0	278	0	7,106
PPG Ind Inc	Com	693506107	1,276	11,432	SH		SOLE	0	171	0	11,261
PVH Corp	Com	693656100	423	2,791	SH		SOLE	0	0	0	2,791
ADR Panasonic Corp ADR	Com	69832A205	234	16,550	SH		SOLE	0	421	0	16,129
Paychex Inc.	Com	704326107	6,754	109,662	SH		SOLE	0	105,326	0	4,336
Paycom Software Inc	Com	70432V102	360	3,353	SH		SOLE	0	0	0	3,353
Paypal Hldgs Inc	Com	70450Y103	433	5,703	SH		SOLE	0	5,345	0	358
Pepsico Inc	Com	713448108	6,032	55,266	SH		SOLE	0	45,431	35	9,800
Pfizer Inc.	Com	717081103	7,681	216,441	SH		SOLE	0	173,590	0	42,851
Philip Morris Intl Inc	Com	718172109	2,808	28,253	SH		SOLE	0	6,113	0	22,140
Pine Grove Alternative Instl FD	Com	72255R101	922	947	SH		SOLE	0	0	0	947
Pool Corporation	Com	73278L105	439	2,999	SH		SOLE	0	28	0	2,971
MFC Powershares QQQ Tr Unit Ser 1	Com	73935A104	3,163	19,750	SH		SOLE	0	19,665	0	85
Praxair, Inc.	Com	74005P104	1,551	10,745	SH		SOLE	0	10,165	330	250
Price T Rowe Associates Inc.	Com	74144T108	1,092	10,113	SH		SOLE	0	9,912	60	141
Procter & Gamble Co	Com	742718109	8,425	106,266	SH		SOLE	0	99,680	3,600	2,986
Osterweis Strategic Income Fund	Com	742935489	25,304	2,245,273	SH		SOLE	0	2,147,959	0	97,314
Prudential Financial Inc	Com	744320102	318	3,075	SH		SOLE	0	1,290	0	1,785
Public Svc Enterprise Group Inc	Com	744573106	206	4,108	SH		SOLE	0	1,990	0	2,118
Qualcomm Inc	Com	747525103	2,111	38,098	SH		SOLE	0	36,051	110	1,937
Rpc Energy Services, Inc.	Com	749660106	274	15,208	SH		SOLE	0	0	0	15,208
Raymond James Financial Inc.	Com	754730109	426	4,760	SH		SOLE	0	48	0	4,712
Raytheon Co Com New	Com	755111507	1,068	4,947	SH		SOLE	0	2,429	300	2,218
Regal Beloit Corp	Com	758750103	280	3,812	SH		SOLE	0	0	0	3,812
Regeneron Pharmaceuticals Inc	Com	75886F107	1,536	4,460	SH		SOLE	0	70	0	4,390
Resmed Inc	Com	761152107	382	3,880	SH		SOLE	0	0	0	3,880
Roche Holdings Ltd Adr	Com	771195104	240	8,376	SH		SOLE	0	611	0	7,765
Ross Stores Inc	Com	778296103	257	3,299	SH		SOLE	0	3,299	0	0
Koninklijke-Royal DSM NV ADR	Com	780249108	238	9,612	SH		SOLE	0	203	0	9,409
Royal Dutch Shell Plc Adr Cl B	Com	780259107	417	6,370	SH		SOLE	0	300	0	6,070
Royal Dutch Shell Plc Adr Cl A	Com	780259206	824	12,908	SH		SOLE	0	5,334	99	7,475
SPDR S&P 500 ETF Trust	Com	78462F103	24,588	93,439	SH		SOLE	0	87,359	900	5,180
SPDR Dow Jones REIT ETF	Com	78464A607	378	4,384	SH		SOLE	0	170	0	4,214
SPDR S&P Dividend Etf	Com	78464A763	4,918	53,927	SH		SOLE	0	53,927	0	0
SS&C TECHNOLOGIES HLDGS INC COM	Com	78467J100	446	8,319	SH		SOLE	0	0	0	8,319
SPDR Dow Jones Indl Average ETF Trust	Com	78467X109	3,680	15,244	SH		SOLE	0	15,179	0	65
Sandy Spring Bancorp Inc	Com	800363103	217	5,599	SH		SOLE	0	0	0	5,599
SAP Ag	Com	803054204	282	2,683	SH		SOLE	0	500	0	2,183
Schein Henry Inc	Com	806407102	265	3,941	SH		SOLE	0	0	0	3,941
Schlumberger Ltd	Com	806857108	4,067	62,781	SH		SOLE	0	39,765	69	22,947
Secom Co Ltd ADR	Com	813113206	224	12,194	SH		SOLE	0	195	0	11,999
Heatlh Care SPDR ETF	Com	81369Y209	237	2,916	SH		SOLE	0	2,916	0	0
Selective Ins Group Inc	Com	816300107	336	5,541	SH		SOLE	0	0	0	5,541
Seven & I Hldgs Co Ltd Adr	Com	81783H105	243	11,392	SH		SOLE	0	190	0	11,202
Siemens AG ADR	Com	826197501	286	4,490	SH		SOLE	0	200	0	4,290
Smith & Nephew PLC Sponsored ADR	Com	83175M205	408	10,706	SH		SOLE	0	107	0	10,599
Smucker J M Co New	Com	832696405	236	1,901	SH		SOLE	0	472	0	1,429
Snap-On Inc.	Com	833034101	4,160	28,199	SH		SOLE	0	14,900	0	13,299
Southern Co	Com	842587107	1,089	24,377	SH		SOLE	0	23,077	500	800
Stanley Black & Decker Inc	Com	854502101	242	1,577	SH		SOLE	0	1,577	0	0
Starbucks Corp	Com	855244109	2,301	39,743	SH		SOLE	0	2,929	0	36,814
State Street Corp.	Com	857477103	1,645	16,494	SH		SOLE	0	10,898	125	5,471
Sterling Bancorp	Com	85917A100	211	9,365	SH		SOLE	0	98	0	9,267
Steuben Tr Co Hornell, NY	Com	860010107	1,291	29,349	SH		SOLE	0	29,349	0	0
Stryker Corp.	Com	863667101	1,038	6,449	SH		SOLE	0	4,649	0	1,800
Sumitomo Mitsui Finl Group ADR	Com	86562M209	356	41,931	SH		SOLE	0	735	0	41,196
Summit Hotel Properties	Com	866082100	194	14,230	SH		SOLE	0	0	0	14,230
Suncor Energy Inc New	Com	867224107	1,389	40,218	SH		SOLE	0	35,691	0	4,527
Suntrust Bks Inc	Com	867914103	455	6,681	SH		SOLE	0	0	0	6,681
Synopsys Inc.	Com	871607107	388	4,667	SH		SOLE	0	350	0	4,317
Synchrony Financial	Com	87165B103	340	10,155	SH		SOLE	0	10,007	0	148
Sysco Corp	Com	871829107	582	9,709	SH		SOLE	0	9,609	0	100
TCF Financial Corp	Com	872275102	378	16,557	SH		SOLE	0	16,557	0	0
TJX Cos Inc New	Com	872540109	1,706	20,920	SH		SOLE	0	16,516	0	4,404
Target Corp.	Com	87612E106	1,622	23,356	SH		SOLE	0	23,168	88	100
Texas Instruments Inc	Com	882508104	3,155	30,371	SH		SOLE	0	19,565	0	10,806
Texas Roadhouse Inc Com	Com	882681109	410	7,099	SH		SOLE	0	0	0	7,099
Textron Inc	Com	883203101	246	4,165	SH		SOLE	0	3,915	0	250
Thermo Fisher Scientific, Inc.	Com	883556102	1,656	8,020	SH		SOLE	0	4,512	0	3,508
3M Company	Com	88579Y101	5,101	23,237	SH		SOLE	0	21,403	125	1,709
Toray Industries	Com	890880206	208	11,023	SH		SOLE	0	0	0	11,023
Total SA Adr	Com	89151E109	236	4,087	SH		SOLE	0	72	0	4,015
Travelers Cos Inc.	Com	89417E109	3,823	27,533	SH		SOLE	0	18,957	0	8,576
Trustco Bank Corp NY	Com	898349105	104	12,336	SH		SOLE	0	0	0	12,336
US Bancorp Del New	Com	902973304	1,459	28,897	SH		SOLE	0	6,261	0	22,636
Unilever Nv New York Shs New	Com	904784709	985	17,476	SH		SOLE	0	11,671	0	5,805
Union Pacific Corp	Com	907818108	1,678	12,480	SH		SOLE	0	5,773	0	6,707
United Financial Bancorp, Inc	Com	910304104	201	12,415	SH		SOLE	0	0	0	12,415
United Fire Group Inc Com	Com	910340108	282	5,901	SH		SOLE	0	0	0	5,901
United Parcel Service Inc	Com	911312106	931	8,898	SH		SOLE	0	7,705	0	1,193
United Technologies Corp	Com	913017109	13,719	109,040	SH		SOLE	0	100,564	1,249	7,227
Unitedhealth Group Inc	Com	91324P102	564	2,636	SH		SOLE	0	2,407	14	215
V.F. Corp	Com	918204108	1,420	19,157	SH		SOLE	0	18,150	0	1,007
Valero Energy	Com	91913Y100	850	9,165	SH		SOLE	0	9,150	0	15
Vanguard Ultra Short Term Bond Admiral	Com	922031711	1,125	56,507	SH		SOLE	0	56,507	0	0
Vanguard Total Int'l Bond ETF	Com	92203J407	6,854	125,236	SH		SOLE	0	121,722	253	3,261
Vanguard Global Ex-US Real Estate ETF	Com	922042676	4,636	76,101	SH		SOLE	0	70,894	586	4,621
Vanguard FTSE All-Wld ex-US SmCp Idx ETF	Com	922042718	6,875	57,653	SH		SOLE	0	56,273	178	1,202
Vanguard FTSE Emerging Mkt MFC	Com	922042858	11,468	244,098	SH		SOLE	0	234,821	2,654	6,623
Vanguard MSCI Pacific ETF	Com	922042866	4,516	61,903	SH		SOLE	0	60,612	192	1,099
Vanguard MSCI Europe ETF	Com	922042874	9,122	156,871	SH		SOLE	0	154,925	550	1,396
Vanguard REIT ETF	Com	922908553	8,705	115,344	SH		SOLE	0	111,815	706	2,823
Vanguard Small Cap Value	Com	922908611	3,001	23,185	SH		SOLE	0	22,582	0	603
Vanguard Mid-Cap Etf	Com	922908629	9,862	63,953	SH		SOLE	0	60,505	200	3,248
Vanguard Small Cap ETF	Com	922908751	12,629	85,959	SH		SOLE	0	82,177	446	3,336
Verizon Communications	Com	92343V104	5,405	113,035	SH		SOLE	0	110,285	862	1,888
Visa	Com	92826C839	3,197	26,723	SH		SOLE	0	810	0	25,913
Wabco Hldgs Inc	Com	92927K102	360	2,691	SH		SOLE	0	41	0	2,650
Walmart Inc	Com	931142103	1,254	14,094	SH		SOLE	0	13,494	0	600
Walgreens Boots Alliance Inc	Com	931427108	761	11,626	SH		SOLE	0	11,626	0	0
Waste Mgmt Inc New	Com	94106L109	282	3,347	SH		SOLE	0	1,547	0	1,800
Wells Fargo & Company	Com	949746101	4,033	76,956	SH		SOLE	0	45,862	903	30,191
Welltower Inc - REIT	Com	95040Q104	307	5,635	SH		SOLE	0	250	0	5,385
WisdomTree Europe Hedged Equity Fd	Com	97717X701	210	3,347	SH		SOLE	0	3,347	0	0
Xcel Energy Inc	Com	98389B100	671	14,743	SH		SOLE	0	356	0	14,387
Xcerra Corp	Com	98400J108	181	15,526	SH		SOLE	0	0	0	15,526
Xerox Corporation New	Com	984121608	223	7,736	SH		SOLE	0	7,608	0	128
Yum Brands Inc.	Com	988498101	366	4,305	SH		SOLE	0	4,192	0	113
Zimmer Biomet Hldgs Inc	Com	98956P102	431	3,956	SH		SOLE	0	3,701	200	55
Zoetis Inc	Com	98978V103	2,344	28,072	SH		SOLE	0	32	0	28,040
Allegion PLC	Com	G0176J109	602	7,054	SH		SOLE	0	3,000	324	3,730
AON Plc Com	Com	G0408V102	734	5,230	SH		SOLE	0	49	0	5,181
Accenture PLC	Com	G1151C101	4,298	28,000	SH		SOLE	0	2,091	0	25,909
Eaton Corp PLC	Com	G29183103	1,823	22,813	SH		SOLE	0	8,657	0	14,156
Genpact Limited	Com	G3922B107	395	12,349	SH		SOLE	0	0	0	12,349
Ingersoll-Rand PLC	Com	G47791101	1,989	23,259	SH		SOLE	0	16,527	1,572	5,160
Johnson Ctls Intl Plc	Com	G51502105	2,156	61,180	SH		SOLE	0	33,220	172	27,788
Medtronic PLC	Com	G5960L103	2,987	37,235	SH		SOLE	0	19,863	0	17,372
Aptiv Plc	Com	G6095L109	482	5,667	SH		SOLE	0	113	0	5,554
STERIS PLC SHS USD	Com	G84720104	305	3,266	SH		SOLE	0	0	0	3,266
Chubb Limited	Com	H1467J104	1,830	13,380	SH		SOLE	0	2,351	0	11,029
Orbotech Ltd Ord	Com	M75253100	422	6,783	SH		SOLE	0	0	0	6,783
AerCap Holdings NV	Com	N00985106	336	6,617	SH		SOLE	0	115	0	6,502
JCI Limited Zar0.01	Com	S3962R167	29	29,442	SH		SOLE	0	29,442	0	0
Soper Company Common	Com	SOPCOM993	5,409	303	SH		SOLE	0	303	0	0
Soper-Wheeler CO. LLC	Com	SOPLLC998	233	30,319	SH		SOLE	0	30,319	0	0