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Arrow Financial Corp — 13F Holdings & Portfolio

CIK 717538 · latest 13F-HR filed 2026-07-31

Backtest portfolio

Arrow Financial Corp manages $1.12B in 13F-reported U.S. long-equity assets across 281 reported positions as of its 2026-06-30 13F-HR filing. Its largest disclosed positions are VOO (12.15%), QQQ (9.40%), AROW (6.83%). Quarter over quarter (versus its 2026-03-31 filing) the fund opened 7 new positions and exited 2; 80 existing positions rose in reported value and 36 fell.

AUM is the long-equity portion reported on Form 13F-HR. Excludes short positions, cash, foreign holdings, and non-13F assets. For informational purposes only — not investment advice.

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AUM
$1.12B

Long-equity book

Holdings
281

Distinct positions

Period
2026-06-30

Filed 2026-07-31

Q/Q Activity
+7 / −2 / ↑80 / ↓36

vs 2026-03-31

Portfolio charts

Latest quarter's book, what changed, and how the portfolio has evolved across filings.

Portfolio map

Q2 26
VOO12.3% · -1%QQQ9.4% · +3%AROW6.8% · -1%IJH6.3% · -2%IJR4.8% · -6%IDEV4.5% · +2%SPYV4.2% · -1%IBHG3.0% · newVO2.1% · +286%VOLT1.9% · +8%AAPL1.8% · -2%NVDA1.7% · -3%GOOGL1.6% · -3%TLH1.6% · +95%JEPI1.6% · +20%IBDX1.4% · +3%IBCA1.4% · +5%IBDY1.4% · +3%IBDW1.4% · +3%IBDV1.4% · +3%IBDU1.4% · +2%IBDT1.3% · +2%MSFT1.2% · +1%IBDZ1.2% · +16%VB0.8% · -3%AMZN0.8% · -2%MRVL0.7% · -7%JPM0.7% · -2%NYM0.6% · +4%APH0.6% · -4%AGG0.6% · -0%CAT0.5% · -5%PANW0.5% · +3%CSCO0.5% · -4%LLY0.5% · -6%HD0.5% · +0%IBDS0.5% · -52%IBDR0.4% · -53%JNJ0.4% · -3%V0.4% · -2%ORCL0.4% · -0%META0.4% · +1%BRK.B0.4% · -1%NYF0.4% · -4%VCSH0.4% · -8%GOOG0.3% · +1%XOM0.3% · -1%BAC0.3% · -4%IBCB0.3% · newBLK0.3% · -1%COST0.3% · -1%WMT0.3% · -4%AMGN0.3% · -3%MS0.3% · -4%TJX0.3% · -2%PWR0.3% · -3%XLK0.3% · -10%AVGO0.3% · +20%CRM0.3% · +4%IBHF0.3% · -91%

Box size = position value; colour = change in share count vs the prior quarter (green added, red trimmed, blue new). Rows split across managers or share classes are combined. Click a box for the stock.

Sector mix

% of 13F value

Sectors from each company's SIC code; funds and ETFs grouped separately.

Biggest buys and sells

Q1 26 → Q2 26

Estimated from the change in shares held × the quarter-end price, so price moves alone don't count as buying. New and exited positions are included.

13F assets and positions

4 quarters

Total reported 13F value (bars) and number of positions (line) each quarter. Value changes include market moves.

Top positions over time

reported value

The eight largest current positions, valued at each quarter end.

Concentration

top 10 = 55.3%

Cumulative share of the portfolio held in the largest N positions.

Firm Profile & Key People

As of the firm’s regulatory filing dated Mar 31, 2026.

Assets Under Management
$377.3M
Discretionary
$377.3M
Employees
10
Accounts
2
Address
6100 CHEVY CHASE DR.
SUITE 100
LAUREL, MD 20707
Phone
(301) 260-1001
Website
Name Title / Status Ownership Type
BARRATO, JOSEPH, JOHN ControlMANAGING MEMBER, CHIEF EXECUTIVE OFFICER, PRESIDENT
since Dec 2007
75% or moreIndividual
BARRATO, ISABELLA, WATSONCOMPLIANCE OFFICER
since Mar 2025
Less than 5%Individual
GUYER, JONATHAN, SCHIEF COMPLIANCE OFFICER
since Feb 2025
Less than 5%Individual
Ownership & leadership changes · 10 filings with changes since Mar 23, 2012

From the firm’s regulatory filings, newest first. Dates are filing dates: a filing that no longer lists someone does not say when they left.

Mar 31, 2025 filing
  • ChangedBARRATO, ISABELLA, WATSON · title ASSISTANT COMPLIANCE OFFICER → COMPLIANCE OFFICER
Mar 17, 2025 filing
  • No longer listedLEWIS, CHRISTOPHER, HARDY · CHIEF COMPLIANCE OFFICER · Less than 5% · control person · listed since Jul 2021
  • No longer listedSERRAPERE, JOHN, RALPH · MANAGING MEMBER, DIRECTOR OF RESEARCH · Less than 5% · control person · listed since Feb 2007
  • AddedBARRATO, ISABELLA, WATSON · ASSISTANT COMPLIANCE OFFICER · Less than 5%
  • AddedGUYER, JONATHAN, S · CHIEF COMPLIANCE OFFICER · Less than 5%
Mar 31, 2023 filing
  • No longer listedWIDDER, SCOTT, BARTH · PRESIDENT OF SALES · Less than 5% · control person · listed since Jan 2020
Apr 1, 2022 filing
  • No longer listedGRIFFITH, JACOB, LOUIS · OWNER · 25–50% · control person · listed since Dec 2007
  • No longer listedSTELLJES, KRISTIN, E · CHIEF COMPLIANCE OFFICER · Less than 5% · control person · listed since Feb 2018
  • Listed againLEWIS, CHRISTOPHER, HARDY · CHIEF COMPLIANCE OFFICER · Less than 5% · control person
  • ChangedBARRATO, JOSEPH, JOHN · ownership 25–50% → 75% or more
Dec 3, 2020 filing
  • No longer listedFLAIG, WILLIAM, EDWARD · CHIEF INVESTMENT OFFICER · Less than 5% · listed since Jan 2007
Oct 19, 2020 filing
  • AddedSERRAPERE, JOHN, RALPH · MANAGING MEMBER, DIRECTOR OF RESEARCH · Less than 5% · control person
  • AddedWIDDER, SCOTT, BARTH · PRESIDENT OF SALES · Less than 5% · control person
  • ChangedBARRATO, JOSEPH, JOHN · title MANAGING PARTNER, CHIEF EXECUTIVE OFFICER, DIRECTOR OF INVESTMENT STRATEGIES → MANAGING MEMBER, CHIEF EXECUTIVE OFFICER, PRESIDENT
  • ChangedGRIFFITH, JACOB, LOUIS · title MANAGING PARTNER, PRESIDENT, DIRECTOR OF SALES → OWNER
Feb 8, 2018 filing
  • No longer listedLEWIS, CHRISTOPHER, HARDY · CHIEF COMPLIANCE OFFICER · Less than 5% · control person · listed since Apr 2017
  • Listed againSTELLJES, KRISTIN, E · CHIEF COMPLIANCE OFFICER · Less than 5% · control person
Apr 17, 2017 filing
  • No longer listedSTELLJES, KRISTIN, E · CHIEF COMPLIANCE OFFICER · Less than 5% · control person · listed since Jun 2015
  • AddedLEWIS, CHRISTOPHER, HARDY · CHIEF COMPLIANCE OFFICER · Less than 5% · control person
Jun 22, 2015 filing
  • No longer listedCHIN, SOTHARA, NMN · CHIEF COMPLIANCE OFFICER · Less than 5% · control person · listed since Apr 2016
  • AddedSTELLJES, KRISTIN, E · CHIEF COMPLIANCE OFFICER · Less than 5% · control person
Jun 26, 2014 filing
  • No longer listedBASSETT, PATRICK, TERENCE · CHIEF COMPLIANCE OFFICER · Less than 5% · listed since Jan 2007
  • AddedCHIN, SOTHARA, NMN · CHIEF COMPLIANCE OFFICER · Less than 5% · control person
Older changes (1 more filing)
Mar 23, 2012 filing (earliest on record)
  • ListedBARRATO, JOSEPH, JOHN · MANAGING PARTNER, CHIEF EXECUTIVE OFFICER, DIRECTOR OF INVESTMENT STRATEGIES · 25–50% · control person
  • ListedBASSETT, PATRICK, TERENCE · CHIEF COMPLIANCE OFFICER · Less than 5%
  • ListedFLAIG, WILLIAM, EDWARD · CHIEF INVESTMENT OFFICER · Less than 5%
  • ListedGRIFFITH, JACOB, LOUIS · MANAGING PARTNER, PRESIDENT, DIRECTOR OF SALES · 25–50% · control person

Quarter-over-quarter changes

Changes in reported position value vs the prior 13F, so price moves count too, not just shares bought or sold.

Arrow Financial Corp Holdings (2026-06-30)

Rows tagged Call or Put are options positions, not stock. Per SEC Form 13F-HR, Value shows the notional value of the underlying (shares covered × underlying price), not the option premium. Shares is the number of underlying shares covered (divide by 100 for contract count).

# Issuer Symbol CUSIP Value Weight Shares Type
1 VANGUARD S&P 500 ETF VOO 922908363 $135.7M 12.15% 197,546 SH
2 INVESCO QQQ TRUST SERIES 1 QQQ 46090E103 $105.0M 9.40% 142,558 SH
3 ARROW FINANCIAL CORPORATION AROW 042744102 $76.2M 6.83% 1,859,963 SH
4 ISHARES CORE S&P MID-CAP ETF IJH 464287507 $69.5M 6.22% 900,920 SH
5 ISHARES CORE S&P SMALL-CAP ETF IJR 464287804 $52.7M 4.72% 355,256 SH
6 ISHARES CORE MSCI DEV MKTS ETF IDEV 46435G326 $49.6M 4.44% 556,703 SH
7 SPDR PORTFOLIO S&P 500 VALUE ETF SPYV 78464A508 $46.7M 4.19% 768,816 SH
8 ISHARES TR IBONDS 2027 TERM ETF IBHG 46436E478 $32.8M 2.94% 1,485,967 SH
9 VANGUARD MID-CAP ETF VO 922908629 $22.0M 1.97% 272,722 SH
10 TEMA ELECTRIFICATION ETF VOLT 87975E834 $20.7M 1.85% 492,970 SH
11 NVIDIA CORP NVDA 67066G104 $18.1M 1.62% 90,581 SH
12 APPLE INC AAPL 037833100 $18.0M 1.62% 62,347 SH
13 J P MORGAN EXCHANGE TRADED FD EQUITY PREMIUM JEPI 46641Q332 $17.0M 1.52% 301,184 SH
14 ISHARES 10-20 YEAR TREASURY BOND ETF TLH 464288653 $17.0M 1.52% 169,299 SH
15 ALPHABET INC CL A GOOGL 02079K305 $16.7M 1.50% 46,721 SH
16 ISHARES IBONDS DEC 2032 TC ETF IBDX 46436E312 $15.5M 1.39% 614,518 SH
17 ISHARES TR IBONDS DEC 2035 IBCA 46438G372 $15.4M 1.38% 599,394 SH
18 ISHARES IBONDS DEC 2033 CORP IBDY 46436E130 $15.3M 1.37% 594,070 SH
19 ISHARES IBONDS DEC 2031 TERM CORP IBDW 46436E486 $15.0M 1.35% 722,167 SH
20 ISHARES IBONDS DEC 2030 TERM CORP IBDV 46436E726 $15.0M 1.34% 686,293 SH
21 ISHARES IBONDS DEC 2029 TERM CORP IBDU 46436E205 $14.8M 1.33% 640,402 SH
22 ISHARES IBONDS DEC 2028 TERM CORP IBDT 46435U515 $14.7M 1.32% 583,391 SH
23 ISHARES IBONDS DEC 2034 TM CORP IBDZ 46438G653 $12.9M 1.16% 496,552 SH
24 MICROSOFT CORP MSFT 594918104 $12.0M 1.07% 32,045 SH
25 AMAZON.COM INC AMZN 023135106 $8.7M 0.78% 36,374 SH
26 VANGUARD SMALL-CAP ETF VB 922908751 $8.5M 0.76% 28,172 SH
27 MARVELL TECHNOLOGY INC MRVL 573874104 $7.4M 0.67% 24,999 SH
28 AB NEW YORK INTERMEDIATE MUNI ETF NYM 00039J764 $6.7M 0.60% 268,140 SH
29 AMPHENOL CORP CL A APH 032095101 $6.3M 0.57% 35,946 SH
30 JP MORGAN CHASE & CO JPM 46625H100 $6.2M 0.55% 18,869 SH
31 ISHARES CORE U.S. AGGREGATE AGG 464287226 $6.2M 0.55% 62,177 SH
32 PALO ALTO NETWORKS INC PANW 697435105 $5.3M 0.48% 15,678 SH
33 CISCO SYSTEMS INC CSCO 17275R102 $5.2M 0.47% 44,321 SH
34 CATERPILLAR INC CAT 149123101 $5.1M 0.46% 4,779 SH
35 ISHARES IBONDS DEC 2027 TERM CORP IBDS 46435UAA9 $5.1M 0.45% 209,525 SH
36 ISHARES IBONDS DEC 2026 TERM CORP IBDR 46435GAA0 $4.9M 0.44% 200,769 SH
37 HOME DEPOT INC HD 437076102 $4.8M 0.43% 13,612 SH
38 ISHARES NEW YORK MUNI BOND ETF NYF 464288323 $4.5M 0.40% 82,875 SH
39 VISA INC CL A V 92826C839 $4.4M 0.39% 12,682 SH
40 META PLATFORMS INC CL A META 30303M102 $4.3M 0.38% 7,608 SH
41 BERKSHIRE HATHAWAY INC-CL B BRK.B 084670702 $4.2M 0.38% 8,404 SH
42 VANGUARD SHORT TERM CORP BOND ETF VCSH 92206C409 $4.1M 0.37% 52,014 SH
43 ORACLE CORPORATION ORCL 68389X105 $4.1M 0.36% 27,643 SH
44 LILLY ELI & CO LLY 532457108 $3.8M 0.34% 3,151 SH
45 JOHNSON & JOHNSON JNJ 478160104 $3.7M 0.33% 14,427 SH
46 ALPHABET INC CL C GOOG 02079K107 $3.5M 0.31% 9,812 SH
47 ISHARES TR IBONDS DEC 2036 TERM CORP. ETF IBCB 46438G166 $3.3M 0.30% 131,610 SH
48 BANK OF AMERICA CORP BAC 060505104 $3.2M 0.29% 56,452 SH
49 COSTCO WHOLESALE CORP COST 22160K105 $3.1M 0.28% 3,311 SH
50 WALMART INC WMT 931142103 $3.1M 0.28% 27,257 SH
Filing History
Period Filed AUM Holdings Accession
2026-06-30 2026-07-31 $1.12B 281 0000717538-26-000112
2026-03-31 2026-05-11 $994.0M 278 0000717538-26-000062
2025-12-31 2026-02-05 $1.00B 318 0000717538-26-000011
2025-09-30 2025-10-21 $978.0M 288 0000717538-25-000086
Filer Information
Address
250 GLEN ST
GLENS FALLS, NY 12801
Phone
(518) 415-4299
Filing Manager
Arrow Financial Corp
Glens Falls, NY
Signatory
Penko Ivanov
Chief Financial Officer