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Institutional Investment Manager
ARROW FINANCIAL CORP
ARROW FINANCIAL CORP (CIK: 0000717538) incorporated in New York, registered under National Commercial Banks, located at 250 Glen St, Glens Falls, NY. Institutional holdings reported to the SEC.

Institutional Holdings (2014Q1)
Portfolio Summary: 355 holdings with a total value of $352,260,000.
#
Name
Shares
Value ($)
%
Options
Notes
1 ARROW FINL CORP 1,349,603 35,684,000 10.13%
2 EXXON MOBIL CORP 79,808 7,795,000 2.21%
3 ISHARES NASDAQ BIOTECHNOLOGY ETF 6,959 7,756,000 2.20%
4 APPLE INC 14,157 7,599,000 2.16%
5 GENERAL ELECTRIC CO 271,710 7,034,000 2.00%
6 JOHNSON & JOHNSON 66,468 6,530,000 1.85%
7 INTERNATIONAL BUSINESS MACHS 31,509 6,065,000 1.72%
8 VISA INC 25,714 5,550,000 1.58%
9 AMAZON COM INC 15,464 5,201,000 1.48%
10 PEPSICO INC 62,013 5,179,000 1.47%
11 CHEVRON CORP NEW 41,351 4,918,000 1.40%
12 MICROSOFT CORP 118,916 4,874,000 1.38%
13 WELLS FARGO & CO NEW 94,925 4,722,000 1.34%
14 JPMORGAN CHASE & CO 77,094 4,681,000 1.33%
15 PROCTER AND GAMBLE CO 56,040 4,517,000 1.28%
16 BERKSHIRE HATHAWAY INC DEL 35,245 4,404,000 1.25%
17 UNITED TECHNOLOGIES CORP 37,183 4,345,000 1.23%
18 AMERICAN EXPRESS CO 47,558 4,282,000 1.22%
19 PFIZER INC 119,605 3,842,000 1.09%
20 ISHARES TR 27,781 3,819,000 1.08%
21 DISNEY WALT CO 45,083 3,610,000 1.02%
22 UNDER ARMOUR INC 30,750 3,526,000 1.00%
23 COLGATE PALMOLIVE CO 53,715 3,486,000 0.99%
24 SALESFORCE COM INC 58,549 3,343,000 0.95%
25 MORGAN STANLEY 106,002 3,303,000 0.94%
26 MERCK & CO INC 56,071 3,183,000 0.90%
27 INTEL CORP 123,247 3,182,000 0.90%
28 QUALCOMM INC 39,270 3,097,000 0.88%
29 BANK AMER CORP 177,474 3,053,000 0.87%
30 SCHLUMBERGER LTD 30,738 2,997,000 0.85%
31 EXPRESS SCRIPTS HLDG CO 38,876 2,919,000 0.83%
32 EBAY INC 51,490 2,844,000 0.81%
33 COCA COLA CO 73,376 2,837,000 0.81%
34 UNION PAC CORP 14,999 2,815,000 0.80%
35 HONEYWELL INTL INC 30,205 2,801,000 0.80%
36 AT&T INC 79,729 2,797,000 0.79%
37 COSTCO WHSL CORP NEW 24,575 2,745,000 0.78%
38 GILEAD SCIENCES INC 38,700 2,742,000 0.78%
39 DANAHER CORP DEL 36,169 2,713,000 0.77%
40 VERIZON COMMUNICATIONS INC 56,642 2,694,000 0.76%
41 CATERPILLAR INC 26,495 2,632,000 0.75%
42 AMGEN INC 21,063 2,599,000 0.74%
43 CITIGROUP INC 53,276 2,536,000 0.72%
44 ORACLE CORP 61,749 2,525,000 0.72%
45 CELGENE CORP 17,676 2,467,000 0.70%
46 STARBUCKS CORP 33,580 2,464,000 0.70%
47 HELMERICH & PAYNE INC 22,505 2,420,000 0.69%
48 GOLDMAN SACHS GROUP INC 14,743 2,416,000 0.69%
49 WAL-MART STORES INC 31,269 2,390,000 0.68%
50 GENERAL MTRS CO 69,320 2,386,000 0.68%
Page 1 of 8

Portfolio data is normalized using SEC Form 13F filings, including the Original 13F-HR (0000717538-14-000050, 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.