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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 (2014Q2)
Portfolio Summary: 349 holdings with a total value of $369,955,000.
#
Name
Shares
Value ($)
%
Options
Notes
1 ARROW FINL CORP 1,336,857 34,677,000 9.37%
2 APPLE INC 98,912 9,192,000 2.48%
3 EXXON MOBIL CORP 80,662 8,121,000 2.20%
4 SPDR SERIES TRUST 187,463 7,822,000 2.11%
5 GENERAL ELECTRIC CO 271,371 7,131,000 1.93%
6 JOHNSON & JOHNSON 66,353 6,942,000 1.88%
7 AMAZON COM INC 17,863 5,801,000 1.57%
8 INTERNATIONAL BUSINESS MACHS 31,469 5,704,000 1.54%
9 PEPSICO INC 63,678 5,689,000 1.54%
10 VISA INC 26,670 5,620,000 1.52%
11 CHEVRON CORP NEW 40,964 5,347,000 1.45%
12 WELLS FARGO & CO NEW 94,938 4,991,000 1.35%
13 MICROSOFT CORP 118,019 4,922,000 1.33%
14 AMERICAN EXPRESS CO 47,151 4,473,000 1.21%
15 JPMORGAN CHASE & CO 77,389 4,459,000 1.21%
16 BERKSHIRE HATHAWAY INC DEL 35,115 4,444,000 1.20%
17 PROCTER AND GAMBLE CO 55,935 4,396,000 1.19%
18 UNITED TECHNOLOGIES CORP 37,083 4,281,000 1.16%
19 ISHARES NASDAQ BIOTECHNOLOGY ETF 6,978 4,081,000 1.10%
20 UNDER ARMOUR INC 67,595 4,021,000 1.09%
21 GOOGLE INC 6,758 3,888,000 1.05%
22 DISNEY WALT CO 44,681 3,832,000 1.04%
23 INTEL CORP 121,789 3,763,000 1.02%
24 ISHARES TR 26,244 3,755,000 1.01%
25 COLGATE PALMOLIVE CO 53,380 3,640,000 0.98%
26 SCHLUMBERGER LTD 30,770 3,629,000 0.98%
27 PFIZER INC 121,105 3,595,000 0.97%
28 MORGAN STANLEY 106,216 3,434,000 0.93%
29 SALESFORCE COM INC 59,064 3,431,000 0.93%
30 MERCK & CO INC 56,301 3,257,000 0.88%
31 QUALCOMM INC 39,566 3,133,000 0.85%
32 COCA COLA CO 72,466 3,070,000 0.83%
33 UNION PAC CORP 30,406 3,033,000 0.82%
34 VERIZON COMMUNICATIONS INC 61,529 3,010,000 0.81%
35 CELGENE CORP 34,792 2,988,000 0.81%
36 DANAHER CORP DEL 36,611 2,883,000 0.78%
37 CATERPILLAR INC 26,449 2,873,000 0.78%
38 HONEYWELL INTL INC 30,610 2,845,000 0.77%
39 COSTCO WHSL CORP NEW 24,464 2,818,000 0.76%
40 AT&T INC 79,585 2,814,000 0.76%
41 BANK AMER CORP 181,464 2,789,000 0.75%
42 CONOCOPHILLIPS 32,296 2,769,000 0.75%
43 EXPRESS SCRIPTS HLDG CO 39,035 2,706,000 0.73%
44 GOLDMAN SACHS GROUP INC 14,983 2,508,000 0.68%
45 CITIGROUP INC 53,079 2,501,000 0.68%
46 AMGEN INC 21,048 2,493,000 0.67%
47 ALLERGAN PLC 11,139 2,485,000 0.67%
48 CORNING INC 110,625 2,429,000 0.66%
49 GILEAD SCIENCES INC 29,020 2,405,000 0.65%
50 MCDONALDS CORP 23,424 2,360,000 0.64%
Page 1 of 7

Portfolio data is normalized using SEC Form 13F filings, including the Original 13F-HR (0000717538-14-000081, filed 2014.07.30).

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.