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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 (2016Q4)
Portfolio Summary: 346 holdings with a total value of $403,319,000.
#
Name
Shares
Value ($)
%
Options
Notes
1 ARROW FINL CORP 1,365,575 55,306,000 13.71%
2 ISHARES TR 400,264 14,014,000 3.47%
3 APPLE INC 96,848 11,217,000 2.78%
4 MICROSOFT CORP 141,372 8,785,000 2.18%
5 AMAZON COM INC 11,625 8,717,000 2.16%
6 ISHARES TR 77,521 8,377,000 2.08%
7 SPDR S&P 500 ETF TR 36,957 8,261,000 2.05%
8 ALPHABET INC 10,209 8,090,000 2.01%
9 VISA INC 98,047 7,650,000 1.90%
10 JPMORGAN CHASE & CO 84,940 7,329,000 1.82%
11 GENERAL ELECTRIC CO 226,720 7,165,000 1.78%
12 JOHNSON & JOHNSON 61,917 7,133,000 1.77%
13 EXXON MOBIL CORP 73,199 6,607,000 1.64%
14 FACEBOOK INC 55,528 6,389,000 1.58%
15 BERKSHIRE HATHAWAY INC DEL 36,010 5,868,000 1.45%
16 PEPSICO INC 51,682 5,408,000 1.34%
17 DISNEY WALT CO 48,324 5,035,000 1.25%
18 PFIZER INC 154,027 5,003,000 1.24%
19 CHEVRON CORP NEW 40,762 4,798,000 1.19%
20 PROCTER AND GAMBLE CO 56,104 4,717,000 1.17%
21 GOLDMAN SACHS GROUP INC 19,204 4,599,000 1.14%
22 MERCK & CO INC 75,069 4,418,000 1.10%
23 WELLS FARGO & CO NEW 73,436 4,046,000 1.00%
24 AMGEN INC 27,430 4,010,000 0.99%
25 ISHARES TR NEW YORK MUN ETF 35,397 3,855,000 0.96%
26 INTERNATIONAL BUSINESS MACHS 22,940 3,808,000 0.94%
27 US BANCORP DEL 72,180 3,707,000 0.92%
28 ALPHABET INC 4,790 3,696,000 0.92%
29 SALESFORCE COM INC 53,808 3,684,000 0.91%
30 MORGAN STANLEY 87,118 3,681,000 0.91%
31 NETFLIX INC 29,063 3,597,000 0.89%
32 SOUTHWEST AIRLS CO 67,726 3,375,000 0.84%
33 HONEYWELL INTL INC 26,764 3,101,000 0.77%
34 MASCO CORP 97,984 3,098,000 0.77%
35 FEDEX CORP 16,630 3,096,000 0.77%
36 GENERAL MLS INC 48,391 2,989,000 0.74%
37 BRISTOL MYERS SQUIBB CO 50,758 2,967,000 0.74%
38 CELGENE CORP 25,396 2,940,000 0.73%
39 PAYPAL HLDGS INC 74,082 2,924,000 0.72%
40 BLACKROCK INC 7,429 2,827,000 0.70%
41 PHILLIPS 66 32,665 2,822,000 0.70%
42 BANK AMER CORP 122,739 2,713,000 0.67%
43 UNION PAC CORP 25,730 2,668,000 0.66%
44 VULCAN MATLS CO 21,000 2,628,000 0.65%
45 HOME DEPOT INC 19,475 2,611,000 0.65%
46 UNITEDHEALTH GROUP INC 16,075 2,573,000 0.64%
47 STARBUCKS CORP 45,666 2,535,000 0.63%
48 CVS HEALTH CORP 31,820 2,512,000 0.62%
49 UNITED TECHNOLOGIES CORP 22,446 2,461,000 0.61%
50 COSTCO WHSL CORP NEW 14,784 2,366,000 0.59%
Page 1 of 7

Portfolio data is normalized using SEC Form 13F filings, including the Original 13F-HR (0000717538-17-000051, filed 2017.02.14).

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.