Arrow Financial Corp

Glens Falls, NY · CIK 717538 · 13F filing filed 2026-02-05

No investment adviser registration (Form ADV) found for this filer. It may be a parent company whose subsidiaries are the registered advisers, a bank or insurer, or a manager based outside the US.

Legal entityArrow Financial Corporation (US)

Other 13F filers in this group: Arrow Bank National Association files a notice

$1.0bn reported value +2.6% vs Q3 2025

159positions

52.9%in top 10

7 new 45 added 90 reduced 8 sold out vs Q3 2025

This report includes the holdings of 1 other manager that shares the investment decisions:

Arrow Bank National Association – reports through this filing

Shares in two reports are counted once in each security's totals.

Holdings, Q4 2025

The small lines show how much was held over the last 4 quarters (adjusted for stock splits).

#	Security	Ticker	Shares	Value	% of portfolio	Change	Shares change
1	VANGUARD INDEX FDS S&P 500 ETF SHS VOO	VOO	197,217	$123.7m12.33%	12.33%	Reduced -15.1k	-15,128 -7.1%
2	INVESCO QQQ TR UNIT SER 1 QQQ	QQQ	139,387	$85.6m8.54%	8.54%	Reduced -13.0k	-13,041 -8.6%
3	ARROW FINL CORP COM AROW	AROW	1,871,735	$58.8m5.86%	5.86%	Added +14.4k	+14,403 0.8%
4	ISHARES TR CORE S&P MCP ETF IJH	IJH	830,319	$54.8m5.46%	5.46%	Reduced -35.5k	-35,452 -4.1%
5	ISHARES TR CORE MSCI INTL IDEV	IDEV	546,267	$45.1m4.49%	4.49%	Added +43.6k	+43,584 8.7%
6	SPDR SERIES TRUST PRTFLO S&P500 VL SPYV	SPYV	783,199	$44.5m4.44%	4.44%	Reduced -1.5k	-1,485 -0.2%
7	ISHARES TR CORE S&P SCP ETF IJR	IJR	356,011	$42.8m4.27%	4.27%	Reduced -21.9k	-21,865 -5.8%
8	ISHARES TR IBONDS 2026 TERM IBHF	IBHF	1,215,960	$28.1m2.80%	2.80%	Added +314.4k	+314,399 34.9%
9	VANGUARD INDEX FDS MID CAP ETF VO	VO	95,506	$27.7m2.76%	2.76%	Reduced -4.5k	-4,462 -4.5%
10	APPLE INC COM AAPL	AAPL	71,340	$19.4m1.93%	1.93%	Reduced -642	-642 -0.9%
11	NVIDIA CORPORATION COM NVDA	NVDA	102,284	$19.1m1.90%	1.90%	Added +709	+709 0.7%
12	ALPHABET INC CAP STK CL A GOOGL	GOOGL	54,974	$17.2m1.72%	1.72%	Reduced -1.9k	-1,923 -3.4%
13	MICROSOFT CORP COM MSFT	MSFT	34,325	$16.6m1.65%	1.65%	Reduced -1.3k	-1,335 -3.7%
14	ISHARES TR IBONDS DEC 2032 IBDX	IBDX	599,146	$15.3m1.52%	1.52%	Added +22.2k	+22,170 3.8%
15	ISHARES TR IBONDS DEC 2031 IBDW	IBDW	703,778	$14.9m1.48%	1.48%	Added +28.1k	+28,076 4.2%
16	ISHARES TR IBONDS DEC 2035 IBCA	IBCA	568,567	$14.7m1.47%	1.47%	New
17	ISHARES TR IBONDS DEC 2030 IBDV	IBDV	667,192	$14.7m1.47%	1.47%	Added +23.2k	+23,165 3.6%
18	ISHARES TR IBONDS DEC 2033 IBDY	IBDY	555,895	$14.5m1.45%	1.45%	Added +4.5k	+4,543 0.8%
19	ISHARES TR IBDS DEC28 ETF IBDT	IBDT	563,080	$14.3m1.43%	1.43%	Added +18.6k	+18,609 3.4%
20	ISHARES TR IBONDS DEC 29 IBDU	IBDU	603,395	$14.1m1.41%	1.41%	Added +1.1k	+1,122 0.2%
21	ISHARES TR IBONDS DEC2026 IBDR	IBDR	577,982	$14.0m1.40%	1.40%	Added +18.8k	+18,834 3.4%
22	ISHARES TR IBONDS 27 ETF IBDS	IBDS	576,590	$14.0m1.40%	1.40%	Added +19.7k	+19,657 3.5%
23	VANGUARD INDEX FDS SMALL CP ETF VB	VB	45,248	$11.7m1.16%	1.16%	Reduced -2.1k	-2,114 -4.5%
24	J P MORGAN EXCHANGE TRADED F EQUITY PREMIUM JEPI	JEPI	195,286	$11.2m1.11%	1.11%	New
25	TEMA ETF TRUST ELECTRIFICATION VOLT	VOLT	370,946	$10.7m1.07%	1.07%	New
26	ISHARES TR IBONDS DEC 2034 IBDZ	IBDZ	400,877	$10.6m1.05%	1.05%	Added +113.2k	+113,245 39.4%
27	AMAZON COM INC COM AMZN	AMZN	38,814	$9.0m0.89%	0.89%	Reduced -455	-455 -1.2%
28	JPMORGAN CHASE & CO COM JPM	JPM	25,415	$8.2m0.82%	0.82%	Reduced -610	-610 -2.3%
29	ISHARES TR CORE US AGGBD ET AGG	AGG	64,846	$6.5m0.65%	0.65%	Reduced -80	-80 -0.1%
30	AB ACTIVE ETFS INC NEW YO INTER ETF NYM	NYM	251,559	$6.3m0.63%	0.63%	New
31	VANGUARD SCOTTSDALE FDS SHRT TRM CORP BD VCSH	VCSH	73,115	$5.8m0.58%	0.58%	Added +6.2k	+6,186 9.2%
32	ORACLE CORP COM ORCL	ORCL	29,776	$5.8m0.58%	0.58%	Reduced -1.8k	-1,755 -5.6%
33	AMPHENOL CORP CL A APH	APH	40,293	$5.4m0.54%	0.54%	Reduced -2.0k	-1,998 -4.7%
34	ELI LILLY & CO COM LLY	LLY	4,943	$5.3m0.53%	0.53%	Reduced -291	-291 -5.6%
35	META PLATFORMS INC CL A META	META	7,718	$5.1m0.51%	0.51%	Reduced -76	-76 -1.0%
36	HOME DEPOT INC COM HD	HD	14,687	$5.1m0.50%	0.50%	Added +394	+394 2.8%
37	SPDR S&P 500 ETF TR TR UNIT SPY	SPY	7,367	$5.0m0.50%	0.50%	Reduced -31	-31 -0.4%
38	VISA INC COM CL A V	V	13,565	$4.8m0.47%	0.47%	Reduced -294	-294 -2.1%
39	BERKSHIRE HATHAWAY INC DEL CL B NEW BRK.B	BRK.B	9,453	$4.8m0.47%	0.47%	Added +261	+261 2.8%
40	ISHARES TR NEW YORK MUN ETF NYF	NYF	88,471	$4.7m0.47%	0.47%	Added +2.4k	+2,396 2.8%
41	ISHARES TR 10-20 YR TRS ETF TLH	TLH	43,178	$4.4m0.44%	0.44%	Reduced -4.6k	-4,570 -9.6%
42	JOHNSON & JOHNSON COM JNJ	JNJ	20,022	$4.1m0.41%	0.41%	Reduced -107	-107 -0.5%
43	SALESFORCE INC COM CRM	CRM	15,546	$4.1m0.41%	0.41%	Reduced -155	-155 -1.0%
44	CATERPILLAR INC COM CAT	CAT	6,829	$3.9m0.39%	0.39%	Reduced -632	-632 -8.5%
45	BLACKROCK INC COM BLK	BLK	3,538	$3.8m0.38%	0.38%	Reduced -15	-15 -0.4%
46	ALPHABET INC CAP STK CL C GOOG	GOOG	11,631	$3.6m0.36%	0.36%	Added +114	+114 1.0%
47	CISCO SYS INC COM CSCO	CSCO	46,962	$3.6m0.36%	0.36%	Reduced -1.9k	-1,935 -4.0%
48	BANK AMERICA CORP COM BAC	BAC	65,101	$3.6m0.36%	0.36%	Reduced -1.7k	-1,696 -2.5%
49	WALMART INC COM WMT	WMT	32,115	$3.6m0.36%	0.36%	Reduced -738	-738 -2.2%
50	EXXON MOBIL CORP COM XOM	XOM	29,441	$3.5m0.35%	0.35%	Reduced -1.0k	-1,033 -3.4%
51	TJX COS INC NEW COM TJX	TJX	21,218	$3.3m0.32%	0.32%	Reduced -779	-779 -3.5%
52	INTERCONTINENTAL EXCHANGE IN COM ICE	ICE	19,490	$3.2m0.31%	0.31%	Added +25	+25 0.1%
53	COSTCO WHSL CORP NEW COM COST	COST	3,553	$3.1m0.31%	0.31%	Reduced -126	-126 -3.4%
54	THERMO FISHER SCIENTIFIC INC COM TMO	TMO	5,123	$3.0m0.30%	0.30%	Reduced -263	-263 -4.9%
55	AMGEN INC COM AMGN	AMGN	9,066	$3.0m0.30%	0.30%	Reduced -715	-715 -7.3%
56	MCDONALDS CORP COM MCD	MCD	9,451	$2.9m0.29%	0.29%	Added +283	+283 3.1%
57	MORGAN STANLEY COM NEW MS	MS	16,270	$2.9m0.29%	0.29%	Reduced -562	-562 -3.3%
58	DISNEY WALT CO COM DIS	DIS	25,184	$2.9m0.29%	0.29%	Added +607	+607 2.5%
59	NETFLIX INC COM NFLX	NFLX	30,350	$2.8m0.28%	0.28%	Reduced -2.2k	-2,230 -6.8%
60	STRYKER CORPORATION COM SYK	SYK	7,922	$2.8m0.28%	0.28%	Reduced -506	-506 -6.0%
61	PROCTER AND GAMBLE CO COM PG	PG	19,419	$2.8m0.28%	0.28%	Added +76	+76 0.4%
62	COCA COLA CO COM KO	KO	34,716	$2.4m0.24%	0.24%	Added +12	+12 0.0%
63	SELECT SECTOR SPDR TR TECHNOLOGY XLK	XLK	16,856	$2.4m0.24%	0.24%	Reduced -20	-20 -0.1%
64	TRAVELERS COMPANIES INC COM TRV	TRV	8,145	$2.4m0.24%	0.24%	Reduced -493	-493 -5.7%
65	PALO ALTO NETWORKS INC COM PANW	PANW	12,490	$2.3m0.23%	0.23%	Added +943	+943 8.2%
66	GENERAL DYNAMICS CORP COM GD	GD	6,694	$2.3m0.22%	0.22%	Reduced -114	-114 -1.7%
67	MARVELL TECHNOLOGY INC COM MRVL	MRVL	26,459	$2.2m0.22%	0.22%	Added +1.7k	+1,729 7.0%
68	ABBOTT LABS COM ABT	ABT	17,739	$2.2m0.22%	0.22%	Added +240	+240 1.4%
69	T-MOBILE US INC COM TMUS	TMUS	10,811	$2.2m0.22%	0.22%	Added +122	+122 1.1%
70	CUMMINS INC COM CMI	CMI	4,268	$2.2m0.22%	0.22%	Reduced -385	-385 -8.3%
71	ADOBE INC COM ADBE	ADBE	5,986	$2.1m0.21%	0.21%	Reduced -712	-712 -10.6%
72	UNION PAC CORP COM UNP	UNP	8,812	$2.0m0.20%	0.20%	Added +687	+687 8.5%
73	HONEYWELL INTL INC COM COM		10,285	$2.0m0.20%	0.20%	Reduced -172	-172 -1.6%
74	WILLIAMS COS INC COM WMB	WMB	33,192	$2.0m0.20%	0.20%	Reduced -3.3k	-3,274 -9.0%
75	MASTERCARD INCORPORATED CL A MA	MA	3,438	$2.0m0.20%	0.20%	Reduced -57	-57 -1.6%
76	DANAHER CORPORATION COM DHR	DHR	8,389	$1.9m0.19%	0.19%	Reduced -17	-17 -0.2%
77	TESLA INC COM TSLA	TSLA	4,226	$1.9m0.19%	0.19%	Reduced -197	-197 -4.5%
78	QUANTA SVCS INC COM PWR	PWR	4,440	$1.9m0.19%	0.19%	Reduced -8	-8 -0.2%
79	BROADCOM INC COM AVGO	AVGO	4,904	$1.7m0.17%	0.17%	Added +937	+937 23.6%
80	MASCO CORP COM MAS	MAS	24,028	$1.5m0.15%	0.15%	Added +372	+372 1.6%
81	YUM BRANDS INC COM YUM	YUM	9,515	$1.4m0.14%	0.14%	Reduced -118	-118 -1.2%
82	INTERNATIONAL BUSINESS MACHS COM IBM	IBM	4,797	$1.4m0.14%	0.14%	Reduced -70	-70 -1.4%
83	PEPSICO INC COM PEP	PEP	9,895	$1.4m0.14%	0.14%	Reduced -585	-585 -5.6%
84	ABBVIE INC COM ABBV	ABBV	6,169	$1.4m0.14%	0.14%	Added +445	+445 7.8%
85	SELECT SECTOR SPDR TR SBI MATERIALS XLB	XLB	30,954	$1.4m0.14%	0.14%	Added +252	+252 0.8%
86	VERTEX PHARMACEUTICALS INC COM VRTX	VRTX	3,085	$1.4m0.14%	0.14%	Reduced -152	-152 -4.7%
87	VANGUARD BD INDEX FDS TOTAL BND MRKT BND	BND	18,645	$1.4m0.14%	0.14%	Added +563	+563 3.1%
88	CONOCOPHILLIPS COM COP	COP	14,725	$1.4m0.14%	0.14%	Reduced -568	-568 -3.7%
89	RTX CORPORATION COM RTX	RTX	7,054	$1.3m0.13%	0.13%	Reduced -280	-280 -3.8%
90	SELECT SECTOR SPDR TR FINANCIAL XLF	XLF	22,832	$1.3m0.12%	0.12%	Unchanged
91	CHEVRON CORP NEW COM CVX	CVX	7,943	$1.2m0.12%	0.12%	Reduced -125	-125 -1.6%
92	LOWES COS INC COM LOW	LOW	4,766	$1.1m0.11%	0.11%	Reduced -186	-186 -3.8%
93	INGERSOLL RAND INC COM IR	IR	14,460	$1.1m0.11%	0.11%	Reduced -1.7k	-1,659 -10.3%
94	TERADYNE INC COM TER	TER	5,914	$1.1m0.11%	0.11%	Reduced -1.3k	-1,344 -18.5%
95	ISHARES TR NATIONAL MUN ETF MUB	MUB	10,163	$1.1m0.11%	0.11%	Unchanged
96	UNITEDHEALTH GROUP INC COM UNH	UNH	3,227	$1.1m0.11%	0.11%	Reduced -809	-809 -20.0%
97	AMERICAN EXPRESS CO COM AXP	AXP	2,839	$1.1m0.10%	0.10%	Reduced -170	-170 -5.7%
98	AMERICAN WTR WKS CO INC NEW COM AWK	AWK	7,774	$1.0m0.10%	0.10%	Reduced -350	-350 -4.3%
99	AMERICAN ELEC PWR CO INC COM AEP	AEP	8,595	$991.1k0.10%	0.10%	Added +1.4k	+1,426 19.9%
100	GE AEROSPACE COM NEW GE	GE	3,153	$971.2k0.10%	0.10%	Reduced -26	-26 -0.8%

Sold out since Q3 2025

Security	Ticker	Shares held before	Value then
ISHARES TR IBHE	IBHE	669,534	$15.5m669.5k shares
LENNAR CORP LEN	LEN	3,518	$443.4k3.5k shares
FISERV INC FISV	FISV	2,169	$279.6k2.2k shares
ISHARES TR SHY	SHY	3,226	$267.6k3.2k shares
ISHARES TR		9,006	$241.3k9.0k shares
PRICE T ROWE GROUP INC TROW	TROW	2,303	$236.4k2.3k shares
SHERWIN WILLIAMS CO SHW	SHW	597	$206.7k597 shares
GENERAL MLS INC GIS	GIS	4,049	$204.2k4.0k shares