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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 (2014Q3)
Portfolio Summary: 421 holdings with a total value of $360,472,000.
#
Name
Shares
Value ($)
%
Options
Notes
1 ARROW FINL CORP 1,349,181 33,824,000 9.38%
2 APPLE INC 104,135 10,492,000 2.91%
3 EXXON MOBIL CORP 78,140 7,350,000 2.04%
4 JOHNSON & JOHNSON 66,757 7,116,000 1.97%
5 GENERAL ELECTRIC CO 241,836 6,196,000 1.72%
6 INTERNATIONAL BUSINESS MACHS 31,053 5,895,000 1.64%
7 PEPSICO INC 62,399 5,809,000 1.61%
8 VISA INC 24,868 5,306,000 1.47%
9 MICROSOFT CORP 113,675 5,270,000 1.46%
10 AMAZON COM INC 16,075 5,183,000 1.44%
11 BERKSHIRE HATHAWAY INC DEL 36,096 4,986,000 1.38%
12 CHEVRON CORP NEW 40,607 4,846,000 1.34%
13 JPMORGAN CHASE & CO 79,772 4,805,000 1.33%
14 PROCTER AND GAMBLE CO 56,757 4,753,000 1.32%
15 UNDER ARMOUR INC 66,205 4,575,000 1.27%
16 WELLS FARGO & CO NEW 87,028 4,513,000 1.25%
17 ISHARES NASDAQ BIOTECHNOLOGY ETF 7,297 4,295,000 1.19%
18 INTEL CORP 117,864 4,104,000 1.14%
19 DISNEY WALT CO 44,342 3,947,000 1.09%
20 GOOGLE INC 6,750 3,897,000 1.08%
21 UNITED TECHNOLOGIES CORP 36,646 3,870,000 1.07%
22 MORGAN STANLEY 109,667 3,791,000 1.05%
23 PFIZER INC 123,041 3,639,000 1.01%
24 SALESFORCE COM INC 61,859 3,559,000 0.99%
25 GILEAD SCIENCES INC 32,810 3,492,000 0.97%
26 ISHARES TR 25,394 3,472,000 0.96%
27 MERCK & CO INC 58,405 3,463,000 0.96%
28 AMERICAN EXPRESS CO 39,493 3,457,000 0.96%
29 ISHARES TR 31,018 3,384,000 0.94%
30 ISHARES TR NEW YORK MUN ETF 30,465 3,381,000 0.94%
31 UNION PAC CORP 30,626 3,320,000 0.92%
32 BANK AMER CORP 194,204 3,311,000 0.92%
33 CITIGROUP INC 63,792 3,305,000 0.92%
34 GOLDMAN SACHS GROUP INC 17,833 3,274,000 0.91%
35 CELGENE CORP 34,513 3,271,000 0.91%
36 SCHLUMBERGER LTD 31,225 3,176,000 0.88%
37 AMGEN INC 21,908 3,077,000 0.85%
38 VERIZON COMMUNICATIONS INC 60,486 3,024,000 0.84%
39 COLGATE PALMOLIVE CO 45,450 2,964,000 0.82%
40 QUALCOMM INC 39,359 2,943,000 0.82%
41 HONEYWELL INTL INC 30,650 2,854,000 0.79%
42 COSTCO WHSL CORP NEW 22,565 2,827,000 0.78%
43 DANAHER CORP DEL 36,906 2,804,000 0.78%
44 AT&T INC 79,537 2,803,000 0.78%
45 CATERPILLAR INC 26,220 2,597,000 0.72%
46 CVS HEALTH CORP 32,477 2,584,000 0.72%
47 FACEBOOK INC 31,460 2,487,000 0.69%
48 CONOCOPHILLIPS 32,414 2,480,000 0.69%
49 COCA COLA CO 58,132 2,479,000 0.69%
50 ALLERGAN PLC 10,194 2,459,000 0.68%
Page 1 of 9

Portfolio data is normalized using SEC Form 13F filings, including the Original 13F-HR (0000717538-14-000111, filed 2014.10.31).

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.