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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 (2016Q1)
Portfolio Summary: 352 holdings with a total value of $376,863,000.
#
Name
Shares
Value ($)
%
Options
Notes
1 ARROW FINL CORP 1,385,095 36,803,000 9.77%
2 APPLE INC 110,719 12,067,000 3.20%
3 SPDR S&P 500 ETF TR 39,838 8,187,000 2.17%
4 ALPHABET INC 10,704 8,167,000 2.17%
5 MICROSOFT CORP 146,371 8,085,000 2.15%
6 VISA INC 101,622 7,772,000 2.06%
7 GENERAL ELECTRIC CO 240,612 7,650,000 2.03%
8 AMAZON COM INC 12,465 7,399,000 1.96%
9 ISHARES TR 64,979 7,201,000 1.91%
10 JOHNSON & JOHNSON 65,188 7,053,000 1.87%
11 FACEBOOK INC 55,060 6,282,000 1.67%
12 UNDER ARMOUR INC 69,752 5,917,000 1.57%
13 EXXON MOBIL CORP 70,274 5,874,000 1.56%
14 WELLS FARGO & CO NEW 115,436 5,583,000 1.48%
15 PEPSICO INC 54,131 5,547,000 1.47%
16 JPMORGAN CHASE & CO 91,603 5,425,000 1.44%
17 BERKSHIRE HATHAWAY INC DEL 37,672 5,344,000 1.42%
18 PROCTER AND GAMBLE CO 60,144 4,950,000 1.31%
19 DISNEY WALT CO 49,752 4,940,000 1.31%
20 PFIZER INC 159,980 4,742,000 1.26%
21 SALESFORCE COM INC 63,307 4,674,000 1.24%
22 ISHARES TR NEW YORK MUN ETF 38,228 4,314,000 1.14%
23 ALPHABET INC 5,776 4,303,000 1.14%
24 CHEVRON CORP NEW 44,343 4,231,000 1.12%
25 AMGEN INC 28,147 4,219,000 1.12%
26 CVS HEALTH CORP 40,572 4,209,000 1.12%
27 MERCK & CO INC 78,016 4,127,000 1.10%
28 GILEAD SCIENCES INC 42,315 3,887,000 1.03%
29 NETFLIX INC 36,386 3,720,000 0.99%
30 CHECK POINT SOFTWARE TECH LT 41,468 3,627,000 0.96%
31 INTERNATIONAL BUSINESS MACHS 23,231 3,518,000 0.93%
32 BRISTOL MYERS SQUIBB CO 53,764 3,435,000 0.91%
33 CELGENE CORP 32,960 3,298,000 0.88%
34 SOUTHWEST AIRLS CO 70,222 3,146,000 0.83%
35 MASCO CORP 99,676 3,135,000 0.83%
36 GOLDMAN SACHS GROUP INC 19,912 3,126,000 0.83%
37 HONEYWELL INTL INC 27,584 3,091,000 0.82%
38 GENERAL MLS INC 48,781 3,089,000 0.82%
39 US BANCORP DEL 73,455 2,982,000 0.79%
40 BANK AMER CORP 218,162 2,950,000 0.78%
41 BIOGEN INC 11,137 2,899,000 0.77%
42 MORGAN STANLEY 114,327 2,859,000 0.76%
43 NEXTERA ENERGY INC 23,835 2,821,000 0.75%
44 CERNER CORP 53,080 2,811,000 0.75%
45 PRICELINE GRP INC 2,163 2,788,000 0.74%
46 STARBUCKS CORP 46,025 2,747,000 0.73%
47 HOME DEPOT INC 20,350 2,716,000 0.72%
48 FEDEX CORP 16,685 2,715,000 0.72%
49 VERIZON COMMUNICATIONS INC 49,972 2,702,000 0.72%
50 COSTCO WHSL CORP NEW 16,677 2,628,000 0.70%
Page 1 of 8

Portfolio data is normalized using SEC Form 13F filings, including the Original 13F-HR (0000717538-16-000246, filed 2016.05.04).

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.