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Who owns AROWWhat AROW owns

What ARROW FINANCIAL CORP owns

The company's own 13F portfolio · as of 2026-06-30 · long US-listed stakes only — private holdings, bonds and cash are not disclosable on a 13F

$1.12B

disclosed stock portfolio

162

positions

12.3%

in VOO

Positions, as of 2026-06-30

ordered by filed value · % of book = share of the disclosed stock portfolio · PUT/CALL tags = options positions (share-equivalents), not shares held

#IssuerSharesValue% of book
1VOOVANGUARD S&P 500 ETF199,441$137.0M12.3%
2QQQINVESCO QQQ TRUST SERIES 1143,023$105.3M9.4%
3AROWARROW FINANCIAL CORPORATION1.9M$76.2M6.8%
4IJHISHARES CORE S&P MID-CAP ETF905,594$69.8M6.3%
5IJRISHARES CORE S&P SMALL-CAP ETF361,187$53.6M4.8%
6IDEVISHARES CORE MSCI DEV MKTS ETF567,490$50.5M4.5%
7SPYVSPDR PORTFOLIO S&P 500 VALUE ETF770,376$46.8M4.2%
8IBHGISHARES TR IBONDS 2027 TERM ETF1.5M$32.9M3%
9VOVANGUARD MID-CAP ETF297,279$24.0M2.1%
10VOLTTEMA ELECTRIFICATION ETF501,273$21.0M1.9%
11AAPLAPPLE INC67,740$19.6M1.8%
12NVDANVIDIA CORP96,535$19.3M1.7%
13GOOGLALPHABET INC CL A51,129$18.3M1.6%
14TLHISHARES 10-20 YEAR TREASURY BOND ETF176,255$17.7M1.6%
15JEPIJ P MORGAN EXCHANGE TRADED FD EQUITY PREMIUM307,394$17.4M1.6%
16IBDXISHARES IBONDS DEC 2032 TC ETF630,882$15.9M1.4%
17IBCAISHARES TR IBONDS DEC 2035615,529$15.8M1.4%
18IBDYISHARES IBONDS DEC 2033 CORP610,058$15.7M1.4%
19IBDWISHARES IBONDS DEC 2031 TERM CORP741,952$15.5M1.4%
20IBDVISHARES IBONDS DEC 2030 TERM CORP702,825$15.3M1.4%
21IBDUISHARES IBONDS DEC 2029 TERM CORP655,962$15.2M1.4%
22IBDTISHARES IBONDS DEC 2028 TERM CORP591,506$14.9M1.3%
23MSFTMICROSOFT CORP35,925$13.4M1.2%
24IBDZISHARES IBONDS DEC 2034 TM CORP512,414$13.3M1.2%
25VBVANGUARD SMALL-CAP ETF30,205$9.2M0.8%
26AMZNAMAZON.COM INC38,354$9.1M0.8%
27MRVLMARVELL TECHNOLOGY INC26,532$7.9M0.7%
28JPMJP MORGAN CHASE & CO23,826$7.8M0.7%
29NYMAB NEW YORK INTERMEDIATE MUNI ETF268,140$6.7M0.6%
30APHAMPHENOL CORP CL A37,494$6.6M0.6%
31AGGISHARES CORE U.S. AGGREGATE62,177$6.2M0.6%
32CATCATERPILLAR INC5,633$6.0M0.5%
33PANWPALO ALTO NETWORKS INC16,042$5.5M0.5%
34CSCOCISCO SYSTEMS INC45,479$5.3M0.5%
35LLYLILLY ELI & CO4,406$5.3M0.5%
36HDHOME DEPOT INC14,862$5.2M0.5%
37IBDSISHARES IBONDS DEC 2027 TERM CORP209,525$5.1M0.5%
38IBDRISHARES IBONDS DEC 2026 TERM CORP200,769$4.9M0.4%
39JNJJOHNSON & JOHNSON18,431$4.7M0.4%
40VVISA INC CL A13,478$4.6M0.4%
41ORCLORACLE CORPORATION31,138$4.6M0.4%
42METAMETA PLATFORMS INC CL A8,053$4.5M0.4%
43BRK/BBERKSHIRE HATHAWAY INC-CL B9,009$4.5M0.4%
44NYFISHARES NEW YORK MUNI BOND ETF82,875$4.5M0.4%
45VCSHVANGUARD SHORT TERM CORP BOND ETF55,641$4.4M0.4%
46GOOGALPHABET INC CL C10,857$3.8M0.3%
47EXMOCEXXON MOBIL CORP27,009$3.7M0.3%
48BACBANK OF AMERICA CORP60,482$3.4M0.3%
49IBCBISHARES TR IBONDS DEC 2036 TERM CORP. ETF132,068$3.3M0.3%
50BLKBLACKROCK INC3,375$3.2M0.3%
51COSTCOSTCO WHOLESALE CORP3,395$3.2M0.3%
52WMTWALMART INC27,915$3.2M0.3%
53AMGNAMGEN INC8,441$3.1M0.3%
54MSMORGAN STANLEY14,622$3.1M0.3%
55TJXTJX COS INC20,146$3.1M0.3%
56PWRQUANTA SERVICES INC4,130$3.0M0.3%
57XLKTECHNOLOGY SELECT SECTOR SPDR FUND15,117$2.9M0.3%
58AVGOBROADCOM INC7,598$2.9M0.3%
59CRMSALESFORCE INC18,092$2.8M0.3%
60IBHFISHARES IBONDS 2026 TERM HIGH YIELD AND INC124,293$2.8M0.3%
61DISDISNEY WALT CO NEW28,384$2.7M0.2%
62PGPROCTER & GAMBLE CO18,182$2.7M0.2%
63KOCOCA COLA CO32,587$2.6M0.2%
64MCDMCDONALDS CORP9,690$2.6M0.2%
65CMICUMMINS INC3,494$2.5M0.2%
66ICEINTERCONTINENTAL EXCHANGE GROUP, INC20,130$2.5M0.2%
67TMOTHERMO FISHER SCIENTIFIC INC4,885$2.4M0.2%
68TRVTRAVELERS COMPANIES INC7,357$2.4M0.2%
69SYKSTRYKER CORPORATION7,482$2.4M0.2%
70TERTERADYNE INC4,857$2.4M0.2%
71UNPUNION PAC CORP8,341$2.3M0.2%
72GDGENERAL DYNAMICS CORP6,360$2.3M0.2%
73WMBWILLIAMS COS INC30,120$2.2M0.2%
74TMUST-MOBILE US INC11,871$2.0M0.2%
75MASMASCO CORP23,737$1.9M0.2%
76TSLATESLA INC4,544$1.9M0.2%
77NFLXNETFLIX INC25,620$1.8M0.2%
78MAMASTERCARD INC CL A3,388$1.7M0.2%
79ABTABBOTT LABS18,770$1.7M0.2%
80DHRDANAHER CORP8,586$1.6M0.1%
81YUMYUM BRANDS INC9,191$1.5M0.1%
82VRTXVERTEX PHARMACEUTICALS INC2,944$1.5M0.1%
83XLBMATERIALS SELECT SECTOR SPDR FUND28,611$1.5M0.1%
84ABBVABBVIE INC5,655$1.4M0.1%
85EATON CORP PLC3,334$1.4M0.1%
86COPCONOCOPHILLIPS13,601$1.4M0.1%
87SPYSPDR S&P 500 ETF TRUST1,864$1.4M0.1%
88RTXRTX CORPORATION6,799$1.3M0.1%
89INTCINTEL CORP8,835$1.2M0.1%
90AMATAPPLIED MATERIALS INC1,685$1.2M0.1%
91CVXCHEVRON CORPORATION7,316$1.2M0.1%
92XLFFINANCIAL SELECT SECTOR SPDR FUND22,502$1.2M0.1%
93PEPPEPSICO INC8,857$1.2M0.1%
94AEPAMERICAN ELEC PWR INC8,653$1.2M0.1%
95GEGE AEROSPACE3,139$1.2M0.1%
96IBMINTL. BUSINESS MACHINES CORP4,164$1.2M0.1%
97HONHONEYWELL TECHNOLOGIES5,247$1.2M0.1%
98HONAHONEYWELL AEROSPACE INC COM5,247$1.2M0.1%
99JEPQJ P MORGAN EXCHANGE TRADED FD NASDAQ EQT PREM18,696$1.1M0.1%
100MUBISHARES NATIONAL MUNI BOND ETF10,370$1.1M0.1%

Source: SEC Form 13F-HR filed by Arrow Financial Corp (CIK 717538), reporting period 2026-06-30. Values are quarter-end filed marks. Research, not investment advice.

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