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Arrow Financial Corp

Q3 2026Quarter ended ⁨Sep 30, 2026⁩Filed ⁨Oct 26, 2026⁩

Filing on SEC EDGAR Compare institutions

Summary

Reported value: $1.1B
Positions: 162
Top 5 weight: 39.5%
Effective positions: 22.0
Options share: 0.0%

Filer and filing details

Filer of record: ARROW FINANCIAL CORP
CIK: 717538GLENS FALLS, NY
Period analysed: Q3 2026 · Quarter ended ⁨Sep 30, 2026⁩Filed with the SEC on ⁨Oct 26, 2026⁩
Last successful SEC check: Nov 13, 2026, 04:57 UTCHoldings period: Q3 2026 · Stored data synced: Oct 28, 2026, 02:42 UTC
Official source: Filing on SEC EDGARAll 13F filings on EDGAR
Signatory: Penko Ivanov, Chief Financial Officer⁨1⁩ other included managers

Key changes

Q2 2026 → Q3 2026

New 6Increased 26Reduced 97Exited 6Unverified 1

Key findings from the filings

The 5 largest positions make up ⁨39.5%⁩ of reported value in ⁨Q3 2026⁩⁨, compared with ⁨39.6%⁩ in ⁨Q2 2026⁩⁩. The largest is ⁨VANGUARD S&P 500 ETF⁩ at ⁨13.0%⁩.
Largest documented increase: ⁨ISHARES 10-20 YEAR TREASURY BOND ETF⁩ ⁨(TLH) ⁩— ⁨+32,113⁩ shares (⁨+18.2%⁩), about ⁨$2.96M⁩ at the period-end value per share.
Largest documented reduction: ⁨ISHARES IBONDS DEC 2027 TERM CORP⁩ ⁨(IBDS) ⁩— ⁨−56,771⁩ shares (⁨−27.1%⁩), about ⁨$1.37M⁩ at the period-end value per share.
⁨6⁩ new positions worth ⁨$8.58M⁩ in ⁨Q3 2026⁩, and ⁨6⁩ positions fully exited (worth ⁨$4.58M⁩ in ⁨Q2 2026⁩).
Reported value changed by ⁨−$20.53M⁩ from ⁨Q2 2026⁩ to ⁨Q3 2026⁩: ⁨−$18.13M⁩ from price moves on shares held in both quarters, ⁨−$6.01M⁩ from changes in share counts, ⁨+$8.58M⁩ from new positions and ⁨−$4.58M⁩ from exits⁨, and ⁨−$399.72K⁩ from lines that cannot be split (such as notes)⁩.A change in reported value is not an investment return: most of it can come from price moves.

Each finding is computed from the filed numbers shown on this page.

Largest documented changes

Security	Status	Share change	Weight
XOMEXXONMOBIL HOLDINGS	New position	+27,170	0.0% → 0.4%
EXXON MOBIL CORP	Exited	−27,009	0.3% → 0.0%
TLHISHARES 10-20 YEAR TREASURY BOND ETF	Increased	+32,113 (+18.2%)	1.6% → 1.8%
IBCBISHARES TR IBONDS DEC 2036 TERM CORP. ETF	Increased	+112,511 (+85.2%)	0.3% → 0.5%
VOOVANGUARD S&P 500 ETF	Increased	+3,474 (+1.7%)	12.3% → 13.0%
JEPIJ P MORGAN EXCHANGE TRADED FD EQUITY PREMIUM	Increased	+39,483 (+12.8%)	1.6% → 1.8%
MUMICRON TECHNOLOGY INC	New position	+2,023	0.0% → 0.2%
IBHGISHARES TR IBONDS 2027 TERM ETF	Increased	+95,836 (+6.4%)	3.0% → 3.2%
IBDSISHARES IBONDS DEC 2027 TERM CORP	Reduced	−56,771 (−27.1%)	0.5% → 0.3%
MSFTMICROSOFT CORP	Reduced	−2,641 (−7.4%)	1.2% → 1.6%

Changes compare filed share counts at two quarter ends. They are not trades made on a particular day, and a filing does not reveal purchase prices.

Holdings in ⁨Q3 2026⁩

Search security, ticker or CUSIP

Change

	Ticker					Status
VANGUARD S&P 500 ETFEquities · 922908363	VOO	202,915	$142.22M	12.98%	+3,474 (+1.7%)	Increased
INVESCO QQQ TRUST SERIES 1Equities · 46090E103	QQQ	144,102	$106.6M	9.73%	+1,079 (+0.8%)	Increased
ARROW FINANCIAL CORPORATIONEquities · 042744102	AROW	1,833,064	$67.55M	6.16%	−26,899 (−1.4%)	Reduced
ISHARES CORE S&P MID-CAP ETFEquities · 464287507	IJH	905,894	$65.18M	5.95%	+300 (+0.0%)	Increased
ISHARES CORE MSCI DEV MKTS ETFEquities · 46435G326	IDEV	572,476	$51.23M	4.67%	+4,986 (+0.9%)	Increased
ISHARES CORE S&P SMALL-CAP ETFEquities · 464287804	IJR	353,715	$48.12M	4.39%	−7,472 (−2.1%)	Reduced
SPDR PORTFOLIO S&P 500 VALUE ETFEquities · 78464A508	SPYV	769,595	$47.05M	4.29%	−781 (−0.1%)	Reduced
ISHARES TR IBONDS 2027 TERM ETFEquities · 46436E478	IBHG	1,587,518	$34.58M	3.16%	+95,836 (+6.4%)	Increased
VANGUARD MID-CAP ETFEquities · 922908629	VO	286,754	$22.49M	2.05%	−10,525 (−3.5%)	Reduced
APPLE INCEquities · 037833100	AAPL	64,615	$21.52M	1.96%	−3,125 (−4.6%)	Reduced
NVIDIA CORPEquities · 67066G104	NVDA	93,793	$21.42M	1.95%	−2,742 (−2.8%)	Reduced
J P MORGAN EXCHANGE TRADED FD EQUITY PREMIUMEquities · 46641Q332	JEPI	346,877	$19.5M	1.78%	+39,483 (+12.8%)	Increased
ISHARES 10-20 YEAR TREASURY BOND ETFEquities · 464288653	TLH	208,368	$19.21M	1.75%	+32,113 (+18.2%)	Increased
TEMA ELECTRIFICATION ETFEquities · 87975E834	VOLT	526,041	$18.64M	1.70%	+24,768 (+4.9%)	Increased
ALPHABET INC CL AEquities · 02079K305	GOOGL	51,125	$17.59M	1.61%	−4 (−0.0%)	Reduced
MICROSOFT CORPEquities · 594918104	MSFT	33,284	$17.07M	1.56%	−2,641 (−7.4%)	Reduced
ISHARES IBONDS DEC 2032 TC ETFEquities · 46436E312	IBDX	625,745	$15.06M	1.37%	−5,137 (−0.8%)	Reduced
ISHARES IBONDS DEC 2033 CORPEquities · 46436E130	IBDY	606,324	$14.84M	1.35%	−3,734 (−0.6%)	Reduced
ISHARES IBONDS DEC 2031 TERM CORPEquities · 46436E486	IBDW	738,467	$14.81M	1.35%	−3,485 (−0.5%)	Reduced
ISHARES TR IBONDS DEC 2035Equities · 46438G372	IBCA	615,326	$14.81M	1.35%	−203 (−0.0%)	Reduced
ISHARES IBONDS DEC 2029 TERM CORPEquities · 46436E205	IBDU	652,334	$14.8M	1.35%	−3,628 (−0.6%)	Reduced
ISHARES IBONDS DEC 2030 TERM CORPEquities · 46436E726	IBDV	698,000	$14.76M	1.35%	−4,825 (−0.7%)	Reduced
ISHARES IBONDS DEC 2028 TERM CORPEquities · 46435U515	IBDT	588,817	$14.7M	1.34%	−2,689 (−0.5%)	Reduced
ISHARES IBONDS DEC 2034 TM CORPEquities · 46438G653	IBDZ	527,694	$13M	1.19%	+15,280 (+3.0%)	Increased
AMAZON.COM INCEquities · 023135106	AMZN	37,363	$9.31M	0.85%	−991 (−2.6%)	Reduced
VANGUARD SMALL-CAP ETFEquities · 922908751	VB	29,153	$8.29M	0.76%	−1,052 (−3.5%)	Reduced
JP MORGAN CHASE & COEquities · 46625H100	JPM	22,957	$7.59M	0.69%	−869 (−3.6%)	Reduced
MARVELL TECHNOLOGY INCEquities · 573874104	MRVL	26,682	$7.05M	0.64%	+150 (+0.6%)	Increased
AB NEW YORK INTERMEDIATE MUNI ETFEquities · 00039J764	NYM	275,928	$6.64M	0.61%	+7,788 (+2.9%)	Increased
AMPHENOL CORP CL AEquities · 032095101	APH	73,680	$6.21M	0.57%	+36,186share count ×⁨2⁩: possibly a ⁨2⁩-for-1 split, not confirmed by an issuer record	Unverified change
ISHARES CORE U.S. AGGREGATEEquities · 464287226	AGG	61,616	$5.83M	0.53%	−561 (−0.9%)	Reduced
ISHARES TR IBONDS DEC 2036 TERM CORP. ETFEquities · 46438G166	IBCB	244,579	$5.78M	0.53%	+112,511 (+85.2%)	Increased
META PLATFORMS INC CL AEquities · 30303M102	META	7,924	$5.75M	0.52%	−129 (−1.6%)	Reduced
PALO ALTO NETWORKS INCEquities · 697435105	PANW	13,464	$5.35M	0.49%	−2,578 (−16.1%)	Reduced
JOHNSON & JOHNSONEquities · 478160104	JNJ	17,924	$4.75M	0.43%	−507 (−2.8%)	Reduced
LILLY ELI & COEquities · 532457108	LLY	4,015	$4.65M	0.42%	−391 (−8.9%)	Reduced
CISCO SYSTEMS INCEquities · 17275R102	CSCO	42,355	$4.56M	0.42%	−3,124 (−6.9%)	Reduced
VISA INC CL AEquities · 92826C839	V	12,385	$4.45M	0.41%	−1,093 (−8.1%)	Reduced
EXXONMOBIL HOLDINGSEquities · 30233Q108	XOM	27,170	$4.42M	0.40%	+27,170	New position
CATERPILLAR INCEquities · 149123101	CAT	5,324	$4.32M	0.39%	−309 (−5.5%)	Reduced
ORACLE CORPORATIONEquities · 68389X105	ORCL	30,852	$4.24M	0.39%	−286 (−0.9%)	Reduced
HOME DEPOT INCEquities · 437076102	HD	14,637	$4.16M	0.38%	−225 (−1.5%)	Reduced
BERKSHIRE HATHAWAY INC-CL BEquities · 084670702	BRK/B	7,816	$3.89M	0.36%	−1,193 (−13.2%)	Reduced
SALESFORCE INCEquities · 79466L302	CRM	16,936	$3.89M	0.35%	−1,156 (−6.4%)	Reduced
ISHARES NEW YORK MUNI BOND ETFMutual Funds · 464288323	NYF	74,341	$3.76M	0.34%	−8,534 (−10.3%)	Reduced
ISHARES IBONDS DEC 2027 TERM CORPEquities · 46435UAA9	IBDS	152,754	$3.68M	0.34%	−56,771 (−27.1%)	Reduced
VANGUARD SHORT TERM CORP BOND ETFEquities · 92206C409	VCSH	47,352	$3.66M	0.33%	−8,289 (−14.9%)	Reduced
ISHARES IBONDS DEC 2026 TERM CORPEquities · 46435GAA0	IBDR	148,253	$3.59M	0.33%	−52,516 (−26.2%)	Reduced
AMGEN INCEquities · 031162100	AMGN	8,015	$3.38M	0.31%	−426 (−5.0%)	Reduced
ALPHABET INC CL CEquities · 02079K107	GOOG	9,853	$3.36M	0.31%	−1,004 (−9.2%)	Reduced

Showing ⁨50⁩ of ⁨168⁩

Sectors & concentration

Sector mix in ⁨Q3 2026⁩

Funds & ETFs68.9% (+0.4 pp)

Technology12.4% (+1.0 pp)

Financials8.7% (−0.7 pp)

Industrials2.6% (−0.4 pp)

Consumer discretionary2.4% (−0.2 pp)

Health care2.1% (+0.0 pp)

Consumer staples1.3% (−0.0 pp)

Energy0.7% (+0.4 pp)

Utilities0.6% (−0.0 pp)

Communication0.2% (−0.0 pp)

Materials0.1% (+0.0 pp)

Q3 2026 Q2 2026

Sectors come from each issuer’s SEC industry code (SIC), grouped broadly. This is not a commercial index classification.

Concentration

Concentration	Q3 2026	Q2 2026
Largest position	13.0%	12.3%
Top 5 weight	39.5%	39.6%
Top 10 weight	55.3%	55.3%
Effective positions	22.0	22.6
Options share	0.0%	0.0%

History

Reported value and positions by period

$978MQ3 2025160 Positions

$1BQ4 2025159 Positions

$994MQ1 2026157 Positions

$1.1BQ2 2026162 Positions

$1.1BQ3 2026162 Positions

Only periods stored for this page are shown (⁨5⁩). Older filings are on SEC EDGAR. A change in reported value is not an investment return: most of it can come from price moves.

Largest holdings across periods (shares)

Security	Q3 2025	Q4 2025	Q1 2026	Q2 2026	Q3 2026
VOOVANGUARD S&P 500 ETF	212,34513.3%	197,21712.3%	202,12212.2%	199,44112.3%	202,91513.0%
QQQINVESCO QQQ TRUST SERIES 1	152,4289.4%	139,3878.5%	139,4028.1%	143,0239.4%	144,1029.7%
AROWARROW FINANCIAL CORPORATION	1,857,3325.4%	1,871,7355.9%	1,878,8396.3%	1,859,9636.8%	1,833,0646.2%
IJHISHARES CORE S&P MID-CAP ETF	865,7715.8%	830,3195.5%	924,4866.3%	905,5946.3%	905,8945.9%
IDEVISHARES CORE MSCI DEV MKTS ETF	502,6834.1%	546,2674.5%	558,2404.7%	567,4904.5%	572,4764.7%
IJRISHARES CORE S&P SMALL-CAP ETF	377,8764.6%	356,0114.3%	385,5204.8%	361,1874.8%	353,7154.4%
SPYVSPDR PORTFOLIO S&P 500 VALUE ETF	784,6844.4%	783,1994.4%	781,3254.4%	770,3764.2%	769,5954.3%
IBHGISHARES TR IBONDS 2027 TERM ETF	not held	not held	not held	1,491,6823.0%	1,587,5183.2%
VOVANGUARD MID-CAP ETF	99,9683.0%	95,5062.8%	77,0652.2%	297,2792.1%	286,7542.1%
AAPLAPPLE INC	71,9821.9%	71,3401.9%	69,1861.8%	67,7401.8%	64,6152.0%
NVDANVIDIA CORP	101,5751.9%	102,2841.9%	99,9761.8%	96,5351.7%	93,7932.0%
JEPIJ P MORGAN EXCHANGE TRADED FD EQUITY PREMIUM	not held	195,2861.1%	256,0581.5%	307,3941.6%	346,8771.8%
TLHISHARES 10-20 YEAR TREASURY BOND ETF	47,7480.5%	43,1780.4%	90,2640.9%	176,2551.6%	208,3681.8%
VOLTTEMA ELECTRIFICATION ETF	not held	370,9461.1%	463,6441.6%	501,2731.9%	526,0411.7%
GOOGLALPHABET INC CL A	56,8971.4%	54,9741.7%	52,9431.5%	51,1291.6%	51,1251.6%

Sources & method

Filings used

Q3 2026Original report: 0000717538-26-000130 · Oct 26, 2026⁨280⁩ rows as filed → ⁨162⁩ positions after combining managers
Q2 2026Original report: 0000717538-26-000112 · Jul 31, 2026⁨281⁩ rows as filed → ⁨162⁩ positions after combining managers
Q1 2026Original report: 0000717538-26-000062 · May 11, 2026⁨278⁩ rows as filed → ⁨157⁩ positions after combining managers
Q4 2025Original report: 0000717538-26-000011 · Feb 5, 2026⁨318⁩ rows as filed → ⁨159⁩ positions after combining managers
Q3 2025Original report: 0000717538-25-000086 · Oct 21, 2025⁨288⁩ rows as filed → ⁨160⁩ positions after combining managers

Data checks

⁨Q3 2026⁩: ⁨AMPHENOL CORP CL A⁩ share counts moved ×⁨2⁩, which may be a stock split. No issuer record confirms it, so the change is shown as unverified, not as a purchase or sale.
⁨Q2 2026⁩: ⁨VANGUARD MID-CAP ETF⁩ share counts moved ×⁨4⁩, which may be a stock split. No issuer record confirms it, so the change is shown as unverified, not as a purchase or sale.
⁨Q4 2025⁩: ⁨TECHNOLOGY SELECT SECTOR SPDR FUND⁩ share counts moved ×⁨2⁩, which may be a stock split. No issuer record confirms it, so the change is shown as unverified, not as a purchase or sale.
⁨Q4 2025⁩: ⁨MATERIALS SELECT SECTOR SPDR FUND⁩ share counts moved ×⁨2⁩, which may be a stock split. No issuer record confirms it, so the change is shown as unverified, not as a purchase or sale.
⁨Q4 2025⁩: ⁨CONS DISC SELECT SECTOR SPDR FUND⁩ share counts moved ×⁨2⁩, which may be a stock split. No issuer record confirms it, so the change is shown as unverified, not as a purchase or sale.
⁨Q4 2025⁩: ⁨UTILITIES SELECT SECTOR SPDR FUND⁩ share counts moved ×⁨2⁩, which may be a stock split. No issuer record confirms it, so the change is shown as unverified, not as a purchase or sale.

How these numbers are calculated

Source: the information tables of Form 13F-HR and 13F-HR/A filed by this filer on SEC EDGAR.
Amendments: a restatement replaces the original table; a new-holdings amendment adds rows. Nothing is counted twice.
Rows for the same security (CUSIP, share type and option side) are added together across managers and discretion types.
Values are US dollars as reported at the quarter end. Weights are each line’s share of the period’s total reported value; options count at the value the filer reported.
A change is classified by share count. A stock split adjusts the comparison only when the issuer recorded it in its own SEC filing (XBRL split ratio). A split suggested only by the 13F data, or a CUSIP change matched by ticker or name, is shown as an unverified change, never as a purchase or sale. For positions held in both quarters, the value change is split into a price effect and a share-count effect using the period-end value per share implied by the filing.
When a security’s CUSIP changes but the ticker or issuer stays the same, the two lines are shown as one holding with an unverified change.
If a filing’s value per share is about 1/1000 of what other covered filers reported for the same securities, the page flags that the filer may have reported thousands of dollars. This is an inference, not a confirmation, and values are never changed because of it.
Tickers are matched from CUSIPs through the open FIGI identifier standard; sectors come from issuers’ SEC industry codes. Unmatched lines stay unclassified.
No price information from before a filing’s publication date is used, and nothing here is a return, a forecast or a recommendation.