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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 (2014Q4)
Portfolio Summary: 349 holdings with a total value of $366,731,000.
#
Name
Shares
Value ($)
%
Options
Notes
1 ARROW FINL CORP 1,382,195 37,997,000 10.36%
2 APPLE INC 105,665 11,664,000 3.18%
3 EXXON MOBIL CORP 77,222 7,139,000 1.95%
4 JOHNSON& JOHNSON 66,310 6,934,000 1.89%
5 VISA INC 25,578 6,707,000 1.83%
6 PEPSICO INC 62,468 5,907,000 1.61%
7 GENERAL ELECTRIC CO 229,277 5,794,000 1.58%
8 MICROSOFT CORP 120,479 5,597,000 1.53%
9 BERKSHIRE HATHAWAY INC CL B 36,343 5,457,000 1.49%
10 JPMORGAN CHASE& CO 86,501 5,414,000 1.48%
11 PROCTER AND GAMBLE CO 57,509 5,238,000 1.43%
12 AMAZON COM INC COM 15,832 4,914,000 1.34%
13 WELLS FARGO& CO NEW 87,593 4,802,000 1.31%
14 INTERNATIONAL BUSINESS MACHS 29,805 4,783,000 1.30%
15 Google Inc. 8,844 4,693,000 1.28%
16 ISHARES CORE US AGGREGATE BOND 41,761 4,599,000 1.25%
17 UNDER ARMOUR INC 66,805 4,536,000 1.24%
18 CHEVRON CORP NEW 40,408 4,533,000 1.24%
19 SALESFORCE COM INC 76,124 4,515,000 1.23%
20 DISNEY WALT CO 46,674 4,395,000 1.20%
21 MORGAN STANLEY 111,583 4,329,000 1.18%
22 INTEL CORP 119,119 4,323,000 1.18%
23 UNITED TECHNOLOGIES CORP 35,784 4,115,000 1.12%
24 AMGEN INC 25,536 4,068,000 1.11%
25 PFIZER INC 129,461 4,033,000 1.10%
26 ISHARES TR 36,090 4,023,000 1.10%
27 CELGENE CORP 35,497 3,971,000 1.08%
28 GOLDMAN SACHS GROUP INC 20,473 3,968,000 1.08%
29 UNION PAC CORP 31,626 3,767,000 1.03%
30 BANK AMER CORP 206,019 3,685,000 1.00%
31 Google Inc. 6,954 3,660,000 1.00%
32 GILEAD SCIENCES INC 37,560 3,541,000 0.97%
33 CITIGROUP INC 65,174 3,527,000 0.96%
34 CVS HEALTH CORPORATION COM 34,910 3,363,000 0.92%
35 MERCK& CO INC 58,292 3,311,000 0.90%
36 SPDR S&P 500 ETF TR TR UNIT 15,903 3,269,000 0.89%
37 HONEYWELL INTL INC 30,895 3,087,000 0.84%
38 COSTCO WHSL CORP NEW 21,724 3,080,000 0.84%
39 AMERICAN EXPRESS CO 32,683 3,041,000 0.83%
40 CORNING INC 131,756 3,022,000 0.82%
41 BIOGEN INC 8,765 2,975,000 0.81%
42 VERIZON COMMUNICATIONS INC 63,328 2,963,000 0.81%
43 COLGATE PALMOLIVE CO 42,470 2,939,000 0.80%
44 SCHLUMBERGER LTD 32,409 2,767,000 0.75%
45 FACEBOOK INC 35,260 2,751,000 0.75%
46 CHIPOTLE MEXICAN GRILL INC 3,817 2,613,000 0.71%
47 CONOCOPHILLIPS 37,426 2,585,000 0.70%
48 ORACLE CORP 57,238 2,574,000 0.70%
49 HOME DEPOT INC 24,183 2,538,000 0.69%
50 COCA COLA CO 57,252 2,417,000 0.66%
Page 1 of 7

Portfolio data is normalized using SEC Form 13F filings, including the Original 13F-HR (0000717538-15-000008, filed 2015.01.22).

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.