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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 (2015Q2)
Portfolio Summary: 344 holdings with a total value of $369,223,000.
#
Name
Shares
Value ($)
%
Options
Notes
1 ARROW FINL CORP 1,306,235 35,308,000 9.56%
2 APPLE INC 103,121 12,934,000 3.50%
3 AMAZON COM INC 17,401 7,553,000 2.05%
4 VISA INC 104,756 7,034,000 1.91%
5 ISHARES TR 62,326 6,780,000 1.84%
6 JOHNSON & JOHNSON 65,779 6,412,000 1.74%
7 GENERAL ELECTRIC CO 240,608 6,394,000 1.73%
8 WELLS FARGO & CO NEW 111,852 6,291,000 1.70%
9 EXXON MOBIL CORP 71,846 5,977,000 1.62%
10 UNDER ARMOUR INC 71,187 5,940,000 1.61%
11 SPDR S&P 500 ETF TR 28,538 5,875,000 1.59%
12 PEPSICO INC 62,157 5,801,000 1.57%
13 ISHARES NASDAQ BIOTECHNOLOGY ETF 10,648 5,751,000 1.56%
14 JPMORGAN CHASE & CO 84,406 5,721,000 1.55%
15 DISNEY WALT CO 49,934 5,700,000 1.54%
16 MICROSOFT CORP 116,669 5,150,000 1.39%
17 BERKSHIRE HATHAWAY INC DEL 37,431 5,094,000 1.38%
18 SALESFORCE COM INC 72,600 5,055,000 1.37%
19 PROCTER AND GAMBLE CO 62,364 4,879,000 1.32%
20 PFIZER INC 144,744 4,853,000 1.31%
21 GILEAD SCIENCES INC 41,193 4,822,000 1.31%
22 FACEBOOK INC 55,691 4,777,000 1.29%
23 MORGAN STANLEY 117,872 4,572,000 1.24%
24 GOLDMAN SACHS GROUP INC 21,122 4,410,000 1.19%
25 ISHARES TR NEW YORK MUN ETF 38,512 4,222,000 1.14%
26 AMGEN INC 27,434 4,212,000 1.14%
27 INTERNATIONAL BUSINESS MACHS 25,799 4,196,000 1.14%
28 CVS HEALTH CORP 39,330 4,125,000 1.12%
29 UNITED TECHNOLOGIES CORP 36,108 4,005,000 1.08%
30 CHEVRON CORP NEW 38,701 3,734,000 1.01%
31 MERCK & CO INC 65,065 3,704,000 1.00%
32 CELGENE CORP 31,943 3,698,000 1.00%
33 BIOGEN INC 9,145 3,694,000 1.00%
34 CITIGROUP INC 63,810 3,524,000 0.95%
35 GOOGLE INC 5,934 3,088,000 0.84%
36 CHECK POINT SOFTWARE TECH LT 38,262 3,044,000 0.82%
37 CERNER CORP 42,016 2,902,000 0.79%
38 BANK AMER CORP 166,342 2,832,000 0.77%
39 CHIPOTLE MEXICAN GRILL INC 4,665 2,822,000 0.76%
40 INTEL CORP 91,554 2,785,000 0.75%
41 HONEYWELL INTL INC 27,068 2,761,000 0.75%
42 UNION PAC CORP 28,648 2,732,000 0.74%
43 INTERNATIONAL FLAVORS&FRAGRA 24,335 2,659,000 0.72%
44 SCHLUMBERGER LTD 30,593 2,637,000 0.71%
45 BRISTOL MYERS SQUIBB CO 38,233 2,543,000 0.69%
46 HOME DEPOT INC 22,516 2,502,000 0.68%
47 STARBUCKS CORP 46,542 2,496,000 0.68%
48 ALLERGAN PLC 8,094 2,456,000 0.67%
49 VERIZON COMMUNICATIONS INC 52,351 2,440,000 0.66%
50 MASCO CORP 91,091 2,430,000 0.66%
Page 1 of 7

Portfolio data is normalized using SEC Form 13F filings, including the Original 13F-HR (0000717538-15-000085, filed 2015.07.28).

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.