# Arrow Financial Corp

> Institutional holdings reported to the SEC as of Q2 2026 on Form 13F. CIK 717538. Source: https://holderbook.com/funds/717538-arrow-financial-corp/

- Reported value: $1.1B
- Positions: 162
- Weight of the ten largest: 55.3%
- Filed: 2026-07-31

A 13F reports long US equity positions only. Short positions, bonds, foreign listings, private holdings and cash are not visible, so this is not the manager's whole book.

## Holdings

| Security | Ticker | Value | Shares | Weight | Quarters held |
|---|---|---|---|---|---|
| VANGUARD INDEX FDS | [VOO](https://holderbook.com/stocks/VOO/) | $137.0M | 199,441 | 12.3% | 31 |
| INVESCO QQQ TR | [QQQ](https://holderbook.com/stocks/QQQ/) | $105.3M | 143,023 | 9.4% | 26 |
| ARROW FINL CORP | [AROW](https://holderbook.com/stocks/AROW/) | $76.2M | 1,859,963 | 6.8% | 31 |
| ISHARES TR | [IJH](https://holderbook.com/stocks/IJH/) | $69.8M | 905,594 | 6.3% | 31 |
| ISHARES TR | [IJR](https://holderbook.com/stocks/IJR/) | $53.6M | 361,187 | 4.8% | 31 |
| ISHARES TR | [IDEV](https://holderbook.com/stocks/IDEV/) | $50.5M | 567,490 | 4.5% | 19 |
| SPDR SERIES TRUST | [SPYV](https://holderbook.com/stocks/SPYV/) | $46.8M | 770,376 | 4.2% | 31 |
| ISHARES TR | [IBHG](https://holderbook.com/stocks/IBHG/) | $32.9M | 1,491,682 | 3.0% | 1 |
| VANGUARD INDEX FDS | [VO](https://holderbook.com/stocks/VO/) | $24.0M | 297,279 | 2.1% | 22 |
| TEMA ETF TRUST | [VOLT](https://holderbook.com/stocks/VOLT/) | $21.0M | 501,273 | 1.9% | 3 |
| APPLE INC | [AAPL](https://holderbook.com/stocks/AAPL/) | $19.6M | 67,740 | 1.8% | 31 |
| NVIDIA CORPORATION | [NVDA](https://holderbook.com/stocks/NVDA/) | $19.3M | 96,535 | 1.7% | 31 |
| ALPHABET INC | [GOOGL](https://holderbook.com/stocks/GOOGL/) | $18.3M | 51,129 | 1.6% | 31 |
| ISHARES TR | [TLH](https://holderbook.com/stocks/TLH/) | $17.7M | 176,255 | 1.6% | 12 |
| J P MORGAN EXCHANGE TRADED F | [JEPI](https://holderbook.com/stocks/JEPI/) | $17.4M | 307,394 | 1.6% | 3 |
| ISHARES TR | [IBDX](https://holderbook.com/stocks/IBDX/) | $15.9M | 630,882 | 1.4% | 14 |
| ISHARES TR | [IBCA](https://holderbook.com/stocks/IBCA/) | $15.8M | 615,529 | 1.4% | 3 |
| ISHARES TR | [IBDY](https://holderbook.com/stocks/IBDY/) | $15.7M | 610,058 | 1.4% | 12 |
| ISHARES TR | [IBDW](https://holderbook.com/stocks/IBDW/) | $15.5M | 741,952 | 1.4% | 19 |
| ISHARES TR | [IBDV](https://holderbook.com/stocks/IBDV/) | $15.3M | 702,825 | 1.4% | 23 |
| ISHARES TR | [IBDU](https://holderbook.com/stocks/IBDU/) | $15.2M | 655,962 | 1.4% | 27 |
| ISHARES TR | [IBDT](https://holderbook.com/stocks/IBDT/) | $14.9M | 591,506 | 1.3% | 27 |
| MICROSOFT CORP | [MSFT](https://holderbook.com/stocks/MSFT/) | $13.4M | 35,925 | 1.2% | 31 |
| ISHARES TR | [IBDZ](https://holderbook.com/stocks/IBDZ/) | $13.3M | 512,414 | 1.2% | 8 |
| VANGUARD INDEX FDS | [VB](https://holderbook.com/stocks/VB/) | $9.2M | 30,205 | 0.8% | 22 |
| AMAZON COM INC | [AMZN](https://holderbook.com/stocks/AMZN/) | $9.1M | 38,354 | 0.8% | 31 |
| MARVELL TECHNOLOGY INC | [MRVL](https://holderbook.com/stocks/MRVL/) | $7.9M | 26,532 | 0.7% | 12 |
| JPMORGAN CHASE & CO | [JPM](https://holderbook.com/stocks/JPM/) | $7.8M | 23,826 | 0.7% | 31 |
| AB ACTIVE ETFS INC | [NYM](https://holderbook.com/stocks/NYM/) | $6.7M | 268,140 | 0.6% | 3 |
| AMPHENOL CORP | [APH](https://holderbook.com/stocks/APH/) | $6.6M | 37,494 | 0.6% | 15 |
| ISHARES TR | [AGG](https://holderbook.com/stocks/AGG/) | $6.2M | 62,177 | 0.6% | 31 |
| CATERPILLAR INC | [CAT](https://holderbook.com/stocks/CAT/) | $6.0M | 5,633 | 0.5% | 31 |
| PALO ALTO NETWORKS INC | [PANW](https://holderbook.com/stocks/PANW/) | $5.5M | 16,042 | 0.5% | 12 |
| CISCO SYS INC | [CSCO](https://holderbook.com/stocks/CSCO/) | $5.3M | 45,479 | 0.5% | 31 |
| ELI LILLY & CO | [LLY](https://holderbook.com/stocks/LLY/) | $5.3M | 4,406 | 0.5% | 31 |
| HOME DEPOT INC | [HD](https://holderbook.com/stocks/HD/) | $5.2M | 14,862 | 0.5% | 31 |
| ISHARES TR | [IBDS](https://holderbook.com/stocks/IBDS/) | $5.1M | 209,525 | 0.5% | 27 |
| ISHARES TR | [IBDR](https://holderbook.com/stocks/IBDR/) | $4.9M | 200,769 | 0.4% | 27 |
| JOHNSON & JOHNSON | [JNJ](https://holderbook.com/stocks/JNJ/) | $4.7M | 18,431 | 0.4% | 31 |
| VISA INC | [V](https://holderbook.com/stocks/V/) | $4.6M | 13,478 | 0.4% | 31 |
| ORACLE CORP | [ORCL](https://holderbook.com/stocks/ORCL/) | $4.6M | 31,138 | 0.4% | 31 |
| META PLATFORMS INC | [META](https://holderbook.com/stocks/META/) | $4.5M | 8,053 | 0.4% | 31 |
| BERKSHIRE HATHAWAY INC DEL | [BRKB](https://holderbook.com/stocks/BRKB/) | $4.5M | 9,009 | 0.4% | 31 |
| ISHARES TR | [NYF](https://holderbook.com/stocks/NYF/) | $4.5M | 82,875 | 0.4% | 31 |
| VANGUARD SCOTTSDALE FDS | [VCSH](https://holderbook.com/stocks/VCSH/) | $4.4M | 55,641 | 0.4% | 29 |
| ALPHABET INC | [GOOG](https://holderbook.com/stocks/GOOG/) | $3.8M | 10,857 | 0.3% | 31 |
| EXXON MOBIL CORP | [XOMXXXX](https://holderbook.com/stocks/XOMXXXX/) | $3.7M | 27,009 | 0.3% | 31 |
| BANK OF AMER CORP | [BAC](https://holderbook.com/stocks/BAC/) | $3.4M | 60,482 | 0.3% | 31 |
| ISHARES TR | [IBCB](https://holderbook.com/stocks/IBCB/) | $3.3M | 132,068 | 0.3% | 1 |
| BLACKROCK INC | [BLK](https://holderbook.com/stocks/BLK/) | $3.2M | 3,375 | 0.3% | 7 |
| COSTCO WHOLESALE CORPORATION | [COST](https://holderbook.com/stocks/COST/) | $3.2M | 3,395 | 0.3% | 31 |
| WALMART INC | [WMT](https://holderbook.com/stocks/WMT/) | $3.2M | 27,915 | 0.3% | 31 |
| AMGEN INC | [AMGN](https://holderbook.com/stocks/AMGN/) | $3.1M | 8,441 | 0.3% | 31 |
| MORGAN STANLEY | [MS](https://holderbook.com/stocks/MS/) | $3.1M | 14,622 | 0.3% | 31 |
| TJX COS INC NEW | [TJX](https://holderbook.com/stocks/TJX/) | $3.1M | 20,146 | 0.3% | 31 |
| QUANTA SVCS INC | [PWR](https://holderbook.com/stocks/PWR/) | $3.0M | 4,130 | 0.3% | 9 |
| SELECT SECTOR SPDR TR | [XLK](https://holderbook.com/stocks/XLK/) | $2.9M | 15,117 | 0.3% | 31 |
| BROADCOM INC | [AVGO](https://holderbook.com/stocks/AVGO/) | $2.9M | 7,598 | 0.3% | 5 |
| SALESFORCE INC | [CRM](https://holderbook.com/stocks/CRM/) | $2.8M | 18,092 | 0.3% | 31 |
| ISHARES TR | [IBHF](https://holderbook.com/stocks/IBHF/) | $2.8M | 124,293 | 0.3% | 7 |
| DISNEY WALT CO | [DIS](https://holderbook.com/stocks/DIS/) | $2.7M | 28,384 | 0.2% | 31 |
| PROCTER & GAMBLE CO | [PG](https://holderbook.com/stocks/PG/) | $2.7M | 18,182 | 0.2% | 31 |
| COCA COLA CO | [KO](https://holderbook.com/stocks/KO/) | $2.6M | 32,587 | 0.2% | 31 |
| MCDONALDS CORP | [MCD](https://holderbook.com/stocks/MCD/) | $2.6M | 9,690 | 0.2% | 31 |
| CUMMINS INC | [CMI](https://holderbook.com/stocks/CMI/) | $2.5M | 3,494 | 0.2% | 31 |
| INTERCONTINENTAL EXCHANGE IN | [ICE](https://holderbook.com/stocks/ICE/) | $2.5M | 20,130 | 0.2% | 31 |
| THERMO FISHER SCIENTIFIC INC | [TMO](https://holderbook.com/stocks/TMO/) | $2.4M | 4,885 | 0.2% | 31 |
| TRAVELERS COMPANIES INC | [TRV](https://holderbook.com/stocks/TRV/) | $2.4M | 7,357 | 0.2% | 29 |
| STRYKER CORPORATION | [SYK](https://holderbook.com/stocks/SYK/) | $2.4M | 7,482 | 0.2% | 31 |
| TERADYNE INC | [TER](https://holderbook.com/stocks/TER/) | $2.4M | 4,857 | 0.2% | 12 |
| UNION PAC CORP | [UNP](https://holderbook.com/stocks/UNP/) | $2.3M | 8,341 | 0.2% | 31 |
| GENERAL DYNAMICS CORP | [GD](https://holderbook.com/stocks/GD/) | $2.3M | 6,360 | 0.2% | 31 |
| WILLIAMS COS INC | [WMB](https://holderbook.com/stocks/WMB/) | $2.2M | 30,120 | 0.2% | 31 |
| T-MOBILE US INC | [TMUS](https://holderbook.com/stocks/TMUS/) | $2.0M | 11,871 | 0.2% | 13 |
| MASCO CORP | [MAS](https://holderbook.com/stocks/MAS/) | $1.9M | 23,737 | 0.2% | 31 |
| TESLA INC | [TSLA](https://holderbook.com/stocks/TSLA/) | $1.9M | 4,544 | 0.2% | 31 |
| NETFLIX INC | [NFLX](https://holderbook.com/stocks/NFLX/) | $1.8M | 25,620 | 0.2% | 31 |
| MASTERCARD INCORPORATED | [MA](https://holderbook.com/stocks/MA/) | $1.7M | 3,388 | 0.2% | 31 |
| ABBOTT LABORATORIES | [ABT](https://holderbook.com/stocks/ABT/) | $1.7M | 18,770 | 0.2% | 31 |
| DANAHER CORP DEL | [DHR](https://holderbook.com/stocks/DHR/) | $1.6M | 8,586 | 0.1% | 31 |
| YUM BRANDS INC | [YUM](https://holderbook.com/stocks/YUM/) | $1.5M | 9,191 | 0.1% | 31 |
| VERTEX PHARMACEUTICALS INC | [VRTX](https://holderbook.com/stocks/VRTX/) | $1.5M | 2,944 | 0.1% | 31 |
| SELECT SECTOR SPDR TR | [XLB](https://holderbook.com/stocks/XLB/) | $1.5M | 28,611 | 0.1% | 31 |
| ABBVIE INC | [ABBV](https://holderbook.com/stocks/ABBV/) | $1.4M | 5,655 | 0.1% | 31 |
| EATON CORP PLC | [ETN](https://holderbook.com/stocks/ETN/) | $1.4M | 3,334 | 0.1% | 5 |
| CONOCOPHILLIPS | [COP](https://holderbook.com/stocks/COP/) | $1.4M | 13,601 | 0.1% | 31 |
| STATE STR SPDR S&P 500 ETF T | [SPY](https://holderbook.com/stocks/SPY/) | $1.4M | 1,864 | 0.1% | 31 |
| RTX CORPORATION | [RTX](https://holderbook.com/stocks/RTX/) | $1.3M | 6,799 | 0.1% | 25 |
| INTEL CORP | [INTC](https://holderbook.com/stocks/INTC/) | $1.2M | 8,835 | 0.1% | 4 |
| APPLIED MATLS INC | [AMAT](https://holderbook.com/stocks/AMAT/) | $1.2M | 1,685 | 0.1% | 31 |
| CHEVRON CORPORATION | [CVX](https://holderbook.com/stocks/CVX/) | $1.2M | 7,316 | 0.1% | 31 |
| SELECT SECTOR SPDR TR | [XLF](https://holderbook.com/stocks/XLF/) | $1.2M | 22,502 | 0.1% | 31 |
| PEPSICO INC | [PEP](https://holderbook.com/stocks/PEP/) | $1.2M | 8,857 | 0.1% | 31 |
| AMERICAN ELEC PWR CO INC | [AEP](https://holderbook.com/stocks/AEP/) | $1.2M | 8,653 | 0.1% | 5 |
| GE AEROSPACE | [GE](https://holderbook.com/stocks/GE/) | $1.2M | 3,139 | 0.1% | 20 |
| INTERNATIONAL BUSINESS MACHS | [IBM](https://holderbook.com/stocks/IBM/) | $1.2M | 4,164 | 0.1% | 31 |
| HONEYWELL INTL INC | [HON](https://holderbook.com/stocks/HON/) | $1.2M | 5,247 | 0.1% | 1 |
| HONEYWELL AEROSPACE INC | [HONA](https://holderbook.com/stocks/HONA/) | $1.2M | 5,247 | 0.1% | 1 |
| J P MORGAN EXCHANGE TRADED F | [JEPQ](https://holderbook.com/stocks/JEPQ/) | $1.1M | 18,696 | 0.1% | 3 |
| ISHARES TR | [MUB](https://holderbook.com/stocks/MUB/) | $1.1M | 10,370 | 0.1% | 31 |

## What the disclosed book did

Not the fund's return. This is the change in value of the positions disclosed on Form 13F, had they been left untouched, against SPY over the same quarter ends.

| Quarter | Book | Market | Difference | Priced |
|---|---|---|---|---|
| Q2 2026 | +12.3% | +14.8% | -2.5% | 98% |
| Q1 2026 | -1.6% | -4.6% | +3.1% | 97% |
| Q4 2025 | +2.1% | +2.4% | -0.3% | 96% |
| Q3 2025 | +6.3% | +7.8% | -1.5% | 96% |
| Q2 2025 | +7.2% | +10.5% | -3.3% | 95% |
| Q1 2025 | -4.0% | -4.6% | +0.6% | 96% |
| Q4 2024 | +0.3% | +2.1% | -1.8% | 95% |
| Q3 2024 | +5.8% | +5.4% | +0.4% | 95% |

## Quarter by quarter

| Quarter | Value | Positions |
|---|---|---|
| Q2 2026 | $1.1B | 162 |
| Q1 2026 | $994.0M | 157 |
| Q4 2025 | $1.0B | 159 |
| Q3 2025 | $978.0M | 160 |
| Q2 2025 | $949.7M | 160 |
| Q1 2025 | $894.5M | 155 |
| Q4 2024 | $1.1B | 167 |
| Q3 2024 | $1.1B | 340 |
| Q2 2024 | $1.0B | 336 |
| Q1 2024 | $1.0B | 333 |
| Q4 2023 | $963.8M | 348 |
| Q3 2023 | $853.0M | 344 |