Arrow Financial Corp
In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 5, 2026), Arrow Financial Corp reported 159 stock positions worth $1.0 billion. Its top holding was Vanguard S&P 500 ETF (VOO) at 12.3% of the portfolio, followed by Invesco QQQ Trust Series 1 (QQQ, 8.5%) and Arrow Financial (AROW, 5.9%). Compared with Q3 2025, it opened 7 new positions, sold out of 8, added to 45 and reduced 90. The biggest buy was a new position in iShares Ibonds Dec 2035 TC (IBCA) and the biggest sale an exit from iShares Ibonds 2025 H/Y (IBHE).
- Most Recent 13F
- Q2 2026
- Location
- Glens Falls, NY
- CIK
- 0000717538
- Portfolio Value
- $1.0B (Q4 2025)
- SEC Filing
- 0000717538-26-000011 ↗ filed Feb 5, 2026
Holdings Value
Holdings 159 stocks · $1.0B
| VOO Vanguard S&P 500 ETF | 12.33% | 197,217 | $123.7M | Reduce -7.1% |
| QQQ Invesco QQQ Trust Series 1 | 8.54% | 139,387 | $85.6M | Reduce -8.6% |
| AROW Arrow Financial Corp. | 5.86% | 1,871,735 | $58.8M | Add +0.8% |
| IJH iShares Core S&P Midcap ETF | 5.46% | 830,319 | $54.8M | Reduce -4.1% |
| IDEV iShares Core MSCI Dev MKTS | 4.49% | 546,267 | $45.1M | Add +8.7% |
| SPYV SS SPDR P S&P 500 Value ETF | 4.44% | 783,199 | $44.5M | Reduce -0.2% |
| IJR iShares Core S&P Small-Cap E | 4.27% | 356,011 | $42.8M | Reduce -5.8% |
| IBHF iShares Ibond 2026 HY & Inc. | 2.80% | 1,215,960 | $28.1M | Add +34.9% |
| VO Vngrd Mrngstr MD-Cap ETF-Usd | 2.76% | 95,506 | $27.7M | Reduce -4.5% |
| AAPL Apple Inc. | 1.93% | 71,340 | $19.4M | Reduce -0.9% |
| NVDA Nvidia Corp. | 1.90% | 102,284 | $19.1M | Add +0.7% |
| GOOGL Alphabet Inc. Class A | 1.72% | 54,974 | $17.2M | Reduce -3.4% |
| MSFT Microsoft Corp. | 1.65% | 34,325 | $16.6M | Reduce -3.7% |
| IBDX iShares Ibonds Dec 2032 TC | 1.52% | 599,146 | $15.3M | Add +3.8% |
| IBDW iShares Ibonds Dec 2031 Corp. | 1.48% | 703,778 | $14.9M | Add +4.2% |
| IBCA iShares Ibonds Dec 2035 TC | 1.47% | 568,567 | $14.7M | New |
| IBDV iShares Ibonds Dec 2030 Corp. | 1.47% | 667,192 | $14.7M | Add +3.6% |
| IBDY iShares Ibonds Dec 2033 Corp. | 1.45% | 555,895 | $14.5M | Add +0.8% |
| IBDT iShares Ibonds Dec 2028 ETF | 1.43% | 563,080 | $14.3M | Add +3.4% |
| IBDU iShares Ibonds Dec 2029 Term | 1.41% | 603,395 | $14.1M | Add +0.2% |
| IBDR iShares Ibonds Dec 2026 Term | 1.40% | 577,982 | $14.0M | Add +3.4% |
| IBDS Ishrs Ibnds Dec 27 Corp. ETF | 1.40% | 576,590 | $14.0M | Add +3.5% |
| VB Vanguard Most SM-Cap ETF-Usd | 1.16% | 45,248 | $11.7M | Reduce -4.5% |
| JEPI JPMorgan Equity Premium Inco | 1.11% | 195,286 | $11.2M | New |
| VOLT Tema Electrification | 1.07% | 370,946 | $10.7M | New |
| IBDZ ISHARESIBONDSDEC2034TMCORP | 1.05% | 400,877 | $10.6M | Add +39.4% |
| AMZN Amazon.com Inc. | 0.89% | 38,814 | $9.0M | Reduce -1.2% |
| JPM JPMorgan Chase & Co. | 0.82% | 25,415 | $8.2M | Reduce -2.3% |
| AGG iShares Core U.S. Aggregate | 0.65% | 64,846 | $6.5M | Reduce -0.1% |
| NYM AB New York Inter Muni ETF filed as AB ACTIVE ETFS INC | 0.63% | 251,559 | $6.3M | New |
| VCSH Vanguard S/T Corp. Bond ETF | 0.58% | 73,115 | $5.8M | Add +9.2% |
| ORCL Oracle Corp. | 0.58% | 29,776 | $5.8M | Reduce -5.6% |
| APH Amphenol Corp. Class A | 0.54% | 40,293 | $5.4M | Reduce -4.7% |
| LLY Eli Lilly & Co. | 0.53% | 4,943 | $5.3M | Reduce -5.6% |
| META Meta Platforms Inc. Class A | 0.51% | 7,718 | $5.1M | Reduce -1.0% |
| HD Home Depot Inc. | 0.50% | 14,687 | $5.1M | Add +2.8% |
| SPY SS SPDR S&P 500 ETF Trust-US | 0.50% | 7,367 | $5.0M | Reduce -0.4% |
| V Visa Inc. Class A | 0.47% | 13,565 | $4.8M | Reduce -2.1% |
| BRK.B Berkshire Hathaway Inc. Class B | 0.47% | 9,453 | $4.8M | Add +2.8% |
| NYF iShares New York Muni Bond E | 0.47% | 88,471 | $4.7M | Add +2.8% |
| TLH iShares 10-20 Year Treasury | 0.44% | 43,178 | $4.4M | Reduce -9.6% |
| JNJ Johnson & Johnson | 0.41% | 20,022 | $4.1M | Reduce -0.5% |
| CRM Salesforce Inc. | 0.41% | 15,546 | $4.1M | Reduce -1.0% |
| CAT Caterpillar Inc. | 0.39% | 6,829 | $3.9M | Reduce -8.5% |
| BLK BlackRock Inc. | 0.38% | 3,538 | $3.8M | Reduce -0.4% |
| GOOG Alphabet Inc. Class C | 0.36% | 11,631 | $3.6M | Add +1.0% |
| CSCO Cisco Systems Inc. | 0.36% | 46,962 | $3.6M | Reduce -4.0% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.36% | 65,101 | $3.6M | Reduce -2.5% |
| WMT Walmart Inc. | 0.36% | 32,115 | $3.6M | Reduce -2.3% |
| XOM Exxon Mobil Corp. | 0.35% | 29,441 | $3.5M | Reduce -3.4% |
| TJX TJX Companies Inc. filed as TJX COS INC NEW | 0.32% | 21,218 | $3.3M | Reduce -3.5% |
| ICE Intercontinental Exchange Inc. | 0.31% | 19,490 | $3.2M | Add +0.1% |
| COST Costco Wholesale Corp. | 0.31% | 3,553 | $3.1M | Reduce -3.4% |
| TMO Thermo Fisher Scientific Inc. | 0.30% | 5,123 | $3.0M | Reduce -4.9% |
| AMGN Amgen Inc. | 0.30% | 9,066 | $3.0M | Reduce -7.3% |
| MCD McDonald's Corp. | 0.29% | 9,451 | $2.9M | Add +3.1% |
| MS Morgan Stanley | 0.29% | 16,270 | $2.9M | Reduce -3.3% |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 0.29% | 25,184 | $2.9M | Add +2.5% |
| NFLX Netflix Inc. | 0.28% | 30,350 | $2.8M | Reduce -6.8% |
| SYK Stryker Corp. | 0.28% | 7,922 | $2.8M | Reduce -6.0% |
| PG The Procter & Gamble Co. | 0.28% | 19,419 | $2.8M | Add +0.4% |
| KO The Coca-Cola Co. | 0.24% | 34,716 | $2.4M | Add +0.0% |
| XLK SS Technology Select Sector | 0.24% | 16,856 | $2.4M | Reduce -0.1% |
| TRV The Travelers Cos Inc. | 0.24% | 8,145 | $2.4M | Reduce -5.7% |
| PANW Palo Alto Networks Inc. | 0.23% | 12,490 | $2.3M | Add +8.2% |
| GD General Dynamics Corp. | 0.22% | 6,694 | $2.3M | Reduce -1.7% |
| MRVL Marvell Technology Inc. | 0.22% | 26,459 | $2.2M | Add +7.0% |
| ABT Abbott Laboratories | 0.22% | 17,739 | $2.2M | Add +1.4% |
| TMUS T-Mobile US Inc. | 0.22% | 10,811 | $2.2M | Add +1.1% |
| CMI Cummins Inc. | 0.22% | 4,268 | $2.2M | Reduce -8.3% |
| ADBE Adobe Inc. | 0.21% | 5,986 | $2.1M | Reduce -10.6% |
| UNP Union Pacific Corp. | 0.20% | 8,812 | $2.0M | Add +8.5% |
| HON Honeywell International Inc. | 0.20% | 10,285 | $2.0M | Reduce -1.6% |
| WMB Williams Cos Inc. | 0.20% | 33,192 | $2.0M | Reduce -9.0% |
| MA Mastercard Inc. Class A | 0.20% | 3,438 | $2.0M | Reduce -1.6% |
| DHR Danaher Corp. | 0.19% | 8,389 | $1.9M | Reduce -0.2% |
| TSLA Tesla Inc. | 0.19% | 4,226 | $1.9M | Reduce -4.5% |
| PWR Quanta Services Inc. | 0.19% | 4,440 | $1.9M | Reduce -0.2% |
| AVGO Broadcom Inc. | 0.17% | 4,904 | $1.7M | Add +23.6% |
| MAS Masco Corp. | 0.15% | 24,028 | $1.5M | Add +1.6% |
| YUM Yum! Brands Inc. | 0.14% | 9,515 | $1.4M | Reduce -1.2% |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 0.14% | 4,797 | $1.4M | Reduce -1.4% |
| PEP Pepsico Inc. | 0.14% | 9,895 | $1.4M | Reduce -5.6% |
| ABBV Abbvie Inc. | 0.14% | 6,169 | $1.4M | Add +7.8% |
| XLB SS Materials Select Sector | 0.14% | 30,954 | $1.4M | Add +0.8% |
| VRTX Vertex Pharmaceuticals Inc. | 0.14% | 3,085 | $1.4M | Reduce -4.7% |
| BND Vanguard Total Bond Market | 0.14% | 18,645 | $1.4M | Add +3.1% |
| COP Conocophillips | 0.14% | 14,725 | $1.4M | Reduce -3.7% |
| RTX RTX Corp. | 0.13% | 7,054 | $1.3M | Reduce -3.8% |
| XLF SS Financial Select Sector | 0.12% | 22,832 | $1.3M | No change |
| CVX Chevron Corp. | 0.12% | 7,943 | $1.2M | Reduce -1.6% |
| LOW Lowe's Cos Inc. | 0.11% | 4,766 | $1.1M | Reduce -3.8% |
| IR Ingersoll-Rand Inc. | 0.11% | 14,460 | $1.1M | Reduce -10.3% |
| TER Teradyne Inc. | 0.11% | 5,914 | $1.1M | Reduce -18.5% |
| MUB iShares National Muni Bond E | 0.11% | 10,163 | $1.1M | No change |
| UNH Unitedhealth Group Inc. | 0.11% | 3,227 | $1.1M | Reduce -20.0% |
| AXP American Express Co. | 0.10% | 2,839 | $1.1M | Reduce -5.7% |
| AWK American Water Works Co. Inc. | 0.10% | 7,774 | $1.0M | Reduce -4.3% |
| AEP American Electric Power | 0.10% | 8,595 | $991K | Add +19.9% |
| GE General Electric filed as GE AEROSPACE | 0.10% | 3,153 | $971K | Reduce -0.8% |
Portfolio Sells Q3 2025 → Q4 2025
| IBHE iShares Ibonds 2025 H/Y Inc. | Sold out | 0.00% | −1.59 |
| XLRE SS Real Estate Select Sector | Reduce -91.0% | 0.09% | −0.98 |
| VOO Vanguard S&P 500 ETF | Reduce -7.1% | 12.33% | −0.97 |
| QQQ Invesco QQQ Trust Series 1 | Reduce -8.6% | 8.54% | −0.82 |
| ORCL Oracle Corp. | Reduce -5.6% | 0.58% | −0.33 |
| IJR iShares Core S&P Small-Cap E | Reduce -5.8% | 4.27% | −0.33 |
| IJH iShares Core S&P Midcap ETF | Reduce -4.1% | 5.46% | −0.31 |
| VO Vngrd Mrngstr MD-Cap ETF-Usd | Reduce -4.5% | 2.76% | −0.24 |
| MSFT Microsoft Corp. | Reduce -3.7% | 1.65% | −0.23 |
| NFLX Netflix Inc. | Reduce -6.8% | 0.28% | −0.12 |
| META Meta Platforms Inc. Class A | Reduce -1.0% | 0.51% | −0.08 |
| VB Vanguard Most SM-Cap ETF-Usd | Reduce -4.5% | 1.16% | −0.07 |
| TLH iShares 10-20 Year Treasury | Reduce -9.6% | 0.44% | −0.07 |
| BLK BlackRock Inc. | Reduce -0.4% | 0.38% | −0.05 |
| LEN Lennar Corp. Class A | Sold out | 0.00% | −0.05 |
| COST Costco Wholesale Corp. | Reduce -3.4% | 0.31% | −0.04 |
| SYK Stryker Corp. | Reduce -6.0% | 0.28% | −0.04 |
| WMB Williams Cos Inc. | Reduce -9.0% | 0.20% | −0.04 |
| UNH Unitedhealth Group Inc. | Reduce -20.0% | 0.11% | −0.04 |
| MINT PIMCO Enhanced Short Maturit | Reduce -30.0% | 0.07% | −0.03 |
| ADBE Adobe Inc. | Reduce -10.6% | 0.21% | −0.03 |
| FISV Fiserv Inc. | Sold out | 0.00% | −0.03 |
| XLU St Sr Utl SL SE SPDR ETF-Usd | Reduce -28.3% | 0.06% | −0.03 |
| SHY iShares 1-3 Year Treasury Bo | Sold out | 0.00% | −0.03 |
| HON Honeywell International Inc. | Reduce -1.6% | 0.20% | −0.03 |
| IBMN iShares Ibonds Dec 2025 Term | Sold out | 0.00% | −0.02 |
| TROW T Rowe Price Group Inc. | Sold out | 0.00% | −0.02 |
| JPM JPMorgan Chase & Co. | Reduce -2.3% | 0.82% | −0.02 |
| IR Ingersoll-Rand Inc. | Reduce -10.3% | 0.11% | −0.02 |
| SHW The Sherwin-Williams Co. | Sold out | 0.00% | −0.02 |
| GIS General Mills Inc. | Sold out | 0.00% | −0.02 |
| AGG iShares Core U.S. Aggregate | Reduce -0.1% | 0.65% | −0.02 |
| ADP Automatic Data Processing | Reduce -2.4% | 0.09% | −0.02 |
| SYY Sysco Corp. | Reduce -4.9% | 0.08% | −0.02 |
| AWK American Water Works Co. Inc. | Reduce -4.3% | 0.10% | −0.01 |
| GD General Dynamics Corp. | Reduce -1.7% | 0.22% | −0.01 |
| LOW Lowe's Cos Inc. | Reduce -3.8% | 0.11% | −0.01 |
| VNQ Vanguard Real Estate ETF | Reduce -13.0% | 0.06% | −0.01 |
| TSLA Tesla Inc. | Reduce -4.5% | 0.19% | −0.01 |
| TRV The Travelers Cos Inc. | Reduce -5.7% | 0.24% | −0.01 |
| ECL Ecolab Inc. | Reduce -8.4% | 0.06% | −0.01 |
| COP Conocophillips | Reduce -3.7% | 0.14% | −0.01 |
| LYB Lyondellbasell Indu Class A | Reduce -19.4% | 0.02% | −0.01 |
| V Visa Inc. Class A | Reduce -2.1% | 0.47% | −0.01 |
| CL Colgate-Palmolive Co. | Reduce -10.8% | 0.05% | −0.01 |
| PEP Pepsico Inc. | Reduce -5.6% | 0.14% | −0.01 |
| NEE Nextera Energy Inc. | Reduce -16.4% | 0.06% | −0.01 |
| MA Mastercard Inc. Class A | Reduce -1.6% | 0.20% | −0.01 |
| CVX Chevron Corp. | Reduce -1.6% | 0.12% | −0.01 |
| D Dominion Energy Inc. | Reduce -1.9% | 0.08% | −0.01 |
Portfolio Buys Q3 2025 → Q4 2025
| IBCA iShares Ibonds Dec 2035 TC | New | 1.47% | +1.47 |
| JEPI JPMorgan Equity Premium Inco | New | 1.11% | +1.11 |
| VOLT Tema Electrification | New | 1.07% | +1.07 |
| IBHF iShares Ibond 2026 HY & Inc. | Add +34.9% | 2.80% | +0.64 |
| NYM AB New York Inter Muni ETF | New | 0.63% | +0.63 |
| AROW Arrow Financial Corp. | Add +0.8% | 5.86% | +0.48 |
| IDEV iShares Core MSCI Dev MKTS | Add +8.7% | 4.49% | +0.37 |
| IBDZ ISHARESIBONDSDEC2034TMCORP | Add +39.4% | 1.05% | +0.28 |
| JEPQ JPM Nasdaq Equity Premium | New | 0.08% | +0.08 |
| MCK McKesson Corp. | New | 0.08% | +0.08 |
| GOOG Alphabet Inc. Class C | Add +1.0% | 0.36% | +0.08 |
| AVGO Broadcom Inc. | Add +23.6% | 0.17% | +0.04 |
| VCSH Vanguard S/T Corp. Bond ETF | Add +9.2% | 0.58% | +0.03 |
| SUSB iShares ESG Aware 1-5 Year U | Add +40.7% | 0.09% | +0.02 |
| XBI SS SPDR S&P Biotech ETF | New | 0.02% | +0.02 |
| IBDW iShares Ibonds Dec 2031 Corp. | Add +4.2% | 1.48% | +0.02 |
| AEP American Electric Power | Add +19.9% | 0.10% | +0.02 |
| ETN Eaton Corp. PLC | Add +91.2% | 0.04% | +0.01 |
| MRK Merck & Co. Inc. | Add +0.1% | 0.07% | +0.01 |
| IBDX iShares Ibonds Dec 2032 TC | Add +3.8% | 1.52% | +0.01 |
| MRVL Marvell Technology Inc. | Add +7.0% | 0.22% | +0.01 |
| IBDS Ishrs Ibnds Dec 27 Corp. ETF | Add +3.5% | 1.40% | +0.01 |
| IBDV iShares Ibonds Dec 2030 Corp. | Add +3.6% | 1.47% | +0.01 |
| IBDT iShares Ibonds Dec 2028 ETF | Add +3.4% | 1.43% | +0.01 |
| IBDR iShares Ibonds Dec 2026 Term | Add +3.4% | 1.40% | +0.01 |
| UNP Union Pacific Corp. | Add +8.5% | 0.20% | +0.01 |
| KO The Coca-Cola Co. | Add +0.0% | 0.24% | +0.01 |
| ABBV Abbvie Inc. | Add +7.8% | 0.14% | +0.01 |
| GEV GE Vernova Inc. | Add +3.2% | 0.05% | +0.00 |
| INTC Intel Corp. | Add +4.3% | 0.03% | +0.00 |
| MCD McDonald's Corp. | Add +3.1% | 0.29% | +0.00 |
| SO The Southern Co. | Add +17.0% | 0.06% | +0.00 |
| NYF iShares New York Muni Bond E | Add +2.8% | 0.47% | +0.00 |
| BRK.B Berkshire Hathaway Inc. Class B | Add +2.8% | 0.47% | +0.00 |
| BND Vanguard Total Bond Market | Add +3.1% | 0.14% | +0.00 |
| EMN Eastman Chemical Co. | Add +0.5% | 0.05% | −0.00 |
| XLB SS Materials Select Sector | Add +0.8% | 0.14% | −0.00 |
| LMT Lockheed Martin Corp. | Add +1.5% | 0.02% | −0.00 |
| VZ Verizon Communications Inc. | Add +7.0% | 0.04% | −0.00 |
| DIS The Walt Disney Co. | Add +2.5% | 0.29% | −0.00 |
| T AT&T Inc. | Add +4.1% | 0.02% | −0.00 |
| TXN Texas Instruments Inc. | Add +3.4% | 0.06% | −0.00 |
| PANW Palo Alto Networks Inc. | Add +8.2% | 0.23% | −0.01 |
| ABT Abbott Laboratories | Add +1.4% | 0.22% | −0.02 |
| MAS Masco Corp. | Add +1.6% | 0.15% | −0.02 |
| ICE Intercontinental Exchange Inc. | Add +0.1% | 0.31% | −0.02 |
| PG The Procter & Gamble Co. | Add +0.4% | 0.28% | −0.03 |
| IBDY iShares Ibonds Dec 2033 Corp. | Add +0.8% | 1.45% | −0.03 |
| NVDA Nvidia Corp. | Add +0.7% | 1.90% | −0.04 |
| IBDU iShares Ibonds Dec 2029 Term | Add +0.2% | 1.41% | −0.04 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 162 | $1.1B | VOO, QQQ, AROW, IJH, IJR |
| Q1 2026 | 157 | $994.0M | VOO, QQQ, AROW, IJH, IJR |
| Q4 2025 | 159 | $1.0B | VOO, QQQ, AROW, IJH, IDEV |
| Q3 2025 | 160 | $978.0M | VOO, QQQ, IJH, AROW, IJR |
| Q2 2025 | 160 | $949.7M | VOO, QQQ, IJH, AROW, IJR |
| Q1 2025 | 155 | $894.5M | VOO, QQQ, IJH, AROW, SPYV |
| Q4 2024 | 167 | $1.1B | VOO, QQQ, AROW, IJH, IJR |
| Q3 2024 | 340 | $1.1B | VOO, QQQ, AROW, IJH, IJR |
| Q2 2024 | 336 | $1.0B | VOO, QQQ, IJH, AROW, IJR |
| Q1 2024 | 333 | $1.0B | VOO, IJR, IJH, SPYV, AROW |