Arrow Financial Top Holdings and 13F Report (2025) About Arrow FinancialArrow Financial NASDAQ: AROW has filed 13-F forms with the SEC as an investor. Arrow Financial is itself a publicly traded company. For more information on Arrow Financial stock, visit the Arrow Financial stock profile here.Investment ActivityArrow Financial has $949.68 million in total holdings as of June 30, 2025.Arrow Financial owns shares of 160 different stocks, but just 33 companies or ETFs make up 80% of its holdings.Approximately 2.81% of the portfolio was purchased this quarter.About 3.43% of the portfolio was sold this quarter.This quarter, Arrow Financial has purchased 155 new stocks and bought additional shares in 48 stocks.Arrow Financial sold shares of 75 stocks and completely divested from 3 stocks this quarter.Largest Holdings Vanguard S&P 500 ETF $122,516,118Invesco QQQ $87,366,537iShares Core S&P Mid-Cap ETF $54,183,835Arrow Financial $49,889,414iShares Core S&P Small-Cap ETF $42,019,273 Largest New Holdings this Quarter 11135F101 - Broadcom $821,437 Holding025537101 - American Electric Power $559,578 Holding842587107 - Southern $445,192 Holding539830109 - Lockheed Martin $243,149 Holding90353T100 - Uber Technologies $233,250 Holding Largest Purchases this Quarter iShares iBonds 2026 Term High Yield and Income ETF 389,382 shares (about $9.05M)Real Estate Select Sector SPDR Fund 106,229 shares (about $4.40M)iShares Core MSCI International Developed Markets ETF 55,216 shares (about $4.20M)ISHARES IBONDS DEC 2034 TM CORP 91,755 shares (about $2.40M)Broadcom 2,980 shares (about $821.44K) Largest Sales this Quarter iShares iBonds 2025 Term High Yield and Income ETF 382,099 shares (about $8.89M)iShares 10-20 Year Treasury Bond ETF 17,127 shares (about $1.74M)iShares iBonds Dec 2025 Term Corporate ETF 69,050 shares (about $1.74M)Vanguard Mid-Cap ETF 5,517 shares (about $1.54M)Vanguard S&P 500 ETF 1,511 shares (about $858.29K) Sector Allocation Over TimeMap of 500 Largest Holdings ofArrow Financial Selling Neutral Buying Latest 13F Holdings and Changes Since Previous Quarterly FilingIssuer NameHoldings ValueApproximate Purchase/SaleChange in SharesShares Held% of PortfolioSectorVOOVanguard S&P 500 ETF$122,516,118$858,293 ▼-0.7%215,68612.9%ETFQQQInvesco QQQ$87,366,537$124,119 ▲0.1%158,3769.2%FinanceIJHiShares Core S&P Mid-Cap ETF$54,183,835$459,258 ▲0.9%873,6525.7%ETFAROWArrow Financial$49,889,414$28,269 ▲0.1%1,888,3205.3%FinanceIJRiShares Core S&P Small-Cap ETF$42,019,273$58,907 ▲0.1%384,4774.4%ETFSPYVSPDR Portfolio S&P 500 Value ETF$41,849,180$194,548 ▲0.5%799,5644.4%ETFIDEViShares Core MSCI International Developed Markets ETF$38,657,367$4,198,625 ▲12.2%508,3824.1%ETFVOVanguard Mid-Cap ETF$28,891,608$1,543,807 ▼-5.1%103,2483.0%ETFIBHEiShares iBonds 2025 Term High Yield and Income ETF$20,201,062$8,885,713 ▼-30.5%868,6762.1%ETFMSFTMicrosoft$17,749,081$790,384 ▼-4.3%35,6831.9%Computer and TechnologyIBHFiShares iBonds 2026 Term High Yield and Income ETF$16,824,583$9,045,344 ▲116.3%724,2611.8%ETFNVDANVIDIA$16,344,224$11,533 ▲0.1%103,4511.7%Computer and TechnologyIBDXiShares iBonds Dec 2032 Term Corporate ETF$14,968,697$131,280 ▼-0.9%591,9991.6%ETFAAPLApple$14,733,258$161,879 ▼-1.1%71,8101.6%Computer and TechnologyIBDYiShares iBonds Dec 2033 Term Corporate ETF$14,671,352$116,909 ▼-0.8%566,3521.5%ETFIBDWiShares iBonds Dec 2031 Term Corporate ETF$14,585,160$132,657 ▼-0.9%693,2111.5%ETFIBDViShares iBonds Dec 2030 Term Corporate ETF$14,465,368$134,276 ▼-0.9%658,1151.5%ETFIBDUiShares iBonds Dec 2029 Term Corporate ETF$14,391,041$136,597 ▼-0.9%616,8471.5%ETFIBDTiShares iBonds Dec 2028 Term Corporate ETF$14,178,031$221,561 ▼-1.5%557,7511.5%ETFIBDRiShares iBonds Dec 2026 Term Corporate ETF$13,904,319$183,378 ▼-1.3%573,3741.5%ETFIBDSiShares iBonds Dec 2027 Term Corporate ETF$13,865,621$175,326 ▼-1.2%571,3071.5%ETFIBDQiShares iBonds Dec 2025 Term Corporate ETF$11,910,745$1,738,679 ▼-12.7%473,0241.3%ETFVBVanguard Small-Cap ETF$11,642,590$382,960 ▼-3.2%49,1291.2%ETFGOOGLAlphabet$10,141,331$66,615 ▼-0.7%57,5461.1%Computer and TechnologyXLREReal Estate Select Sector SPDR Fund$9,724,878$4,400,005 ▲82.6%234,7871.0%ETFAMZNAmazon.com$8,647,915$658 ▼0.0%39,4180.9%Retail/WholesaleJPMJPMorgan Chase & Co.$7,630,721$172,207 ▼-2.2%26,3210.8%FinanceORCLOracle$7,158,383$663,323 ▼-8.5%32,7420.8%Computer and TechnologyAGGiShares Core U.S. Aggregate Bond ETF$6,477,859$191,952 ▼-2.9%65,3010.7%FinanceISHARES IBONDS DEC 2034 TM CORP$6,275,251$2,397,558 ▲61.8%240,1550.7%EquitiesMETAMeta Platforms$5,775,554$47,976 ▼-0.8%7,8250.6%Computer and TechnologyTLHiShares 10-20 Year Treasury Bond ETF$5,582,513$1,740,103 ▼-23.8%54,9460.6%ETFVCSHVanguard Short-Term Corporate Bond ETF$5,569,771$314,502 ▼-5.3%70,0600.6%ETFHDHome Depot$5,182,456$237,949 ▲4.8%14,1350.5%Retail/WholesaleVVisa$4,981,352$103,675 ▲2.1%14,0300.5%Business ServicesBRK.BBerkshire Hathaway$4,520,090$1,457 ▲0.0%9,3050.5%FinanceSPYSPDR S&P 500 ETF Trust$4,519,573$6,796 ▼-0.2%7,3150.5%FinanceNFLXNetflix$4,502,155$199,530 ▼-4.2%3,3620.5%Consumer DiscretionaryNYFiShares New York Muni Bond ETF$4,498,379$126,648 ▼-2.7%86,2750.5%ETFAPHAmphenol$4,370,774$433,216 ▼-9.0%44,2610.5%Computer and TechnologyCRMSalesforce$4,315,592$110,167 ▼-2.5%15,8260.5%Computer and TechnologyLLYEli Lilly and Company$4,087,855$80,292 ▲2.0%5,2440.4%MedicalBLACKROCK INC$3,790,941$53,512 ▲1.4%3,6130.4%EquitiesICEIntercontinental Exchange$3,625,735$44,583 ▲1.2%19,7620.4%FinanceCOSTCostco Wholesale$3,584,573$78,205 ▼-2.1%3,6210.4%Retail/WholesaleCSCOCisco Systems$3,495,018$241,928 ▼-6.5%50,3750.4%Computer and TechnologySYKStryker$3,469,675$115,920 ▼-3.2%8,7700.4%MedicalXOMExxon Mobil$3,385,136$140,463 ▼-4.0%31,4020.4%EnergyWMTWalmart$3,264,484$48,694 ▲1.5%33,3860.3%Retail/WholesaleBACBank of America$3,209,432$79,498 ▲2.5%67,8240.3%FinanceJNJJohnson & Johnson$3,087,077$60,794 ▼-1.9%20,2100.3%MedicalPGProcter & Gamble$3,082,523$13,861 ▲0.5%19,3480.3%Consumer StaplesDISWalt Disney$3,009,350$6,573 ▲0.2%24,2670.3%Consumer DiscretionaryCATCaterpillar$2,884,012$35,715 ▲1.3%7,4290.3%IndustrialsTJXTJX Companies$2,816,066$26,056 ▼-0.9%22,8040.3%Retail/WholesaleAMGNAmgen$2,794,612$226,998 ▼-7.5%10,0090.3%MedicalMCDMcDonald's$2,672,187$73,627 ▲2.8%9,1460.3%Retail/WholesaleADBEAdobe$2,617,243$196,922 ▲8.1%6,7650.3%Computer and TechnologyTMUST-Mobile US$2,537,469$176,551 ▼-6.5%10,6500.3%Computer and TechnologyABTAbbott Laboratories$2,454,844$194,902 ▼-7.4%18,0490.3%MedicalHONHoneywell International$2,423,349$18,863 ▲0.8%10,4060.3%Multi-Sector ConglomeratesMSMorgan Stanley$2,389,267$41,695 ▼-1.7%16,9620.3%FinanceKOCocaCola$2,388,379$105,064 ▲4.6%33,7580.3%Consumer StaplesWMBWilliams Companies$2,382,949$245,210 ▼-9.3%37,9390.3%EnergyTRVTravelers Companies$2,369,869$69,293 ▼-2.8%8,8580.2%FinanceXLKTechnology Select Sector SPDR Fund$2,267,9280.0%8,9560.2%ETFPANWPalo Alto Networks$2,177,779$129,332 ▲6.3%10,6420.2%Computer and TechnologyTMOThermo Fisher Scientific$2,079,605$105,420 ▲5.3%5,1290.2%MedicalMAMastercard$2,069,063$50,575 ▼-2.4%3,6820.2%Business ServicesGOOGAlphabet$2,043,888$92,243 ▼-4.3%11,5220.2%Computer and TechnologyGDGeneral Dynamics$2,011,871$111,122 ▲5.8%6,8980.2%AerospaceUNPUnion Pacific$1,943,256$63,272 ▼-3.2%8,4460.2%TransportationMRVLMarvell Technology$1,699,085$302,711 ▲21.7%21,9520.2%Computer and TechnologyDHRDanaher$1,663,880$81,189 ▲5.1%8,4230.2%MedicalPWRQuanta Services$1,649,185$73,348 ▲4.7%4,3620.2%ConstructionBNDVanguard Total Bond Market ETF$1,591,439$130,988 ▼-7.6%21,6140.2%ETFUNHUnitedHealth Group$1,574,825$225,242 ▲16.7%5,0480.2%MedicalCMICummins$1,564,140$6,550 ▼-0.4%4,7760.2%Auto/Tires/TrucksMASMasco$1,527,714$76,331 ▲5.3%23,7370.2%ConstructionVRTXVertex Pharmaceuticals$1,470,050$36,952 ▼-2.5%3,3020.2%MedicalMINTPIMCO Enhanced Short Maturity Exchange-Traded Fund$1,415,131$432,602 ▼-23.4%14,0760.1%ETFTSLATesla$1,404,375$25,413 ▼-1.8%4,4210.1%Auto/Tires/TrucksYUMYum! Brands$1,400,153$7,409 ▼-0.5%9,4490.1%Retail/WholesaleCOPConocoPhillips$1,394,111$9,692 ▲0.7%15,5350.1%EnergyIBMInternational Business Machines$1,375,738$171,562 ▼-11.1%4,6670.1%Computer and TechnologyXLBMaterials Select Sector SPDR Fund$1,338,927$74,892 ▲5.9%15,2500.1%ETFPEPPepsiCo$1,328,718$35,519 ▼-2.6%10,0630.1%Consumer StaplesIRIngersoll Rand$1,323,810$192,562 ▼-12.7%15,9150.1%IndustrialsMUBiShares National Muni Bond ETF$1,293,2530.0%12,3780.1%ETFXLFFinancial Select Sector SPDR Fund$1,260,179$90,862 ▲7.8%24,0630.1%ETFCVXChevron$1,145,233$39,950 ▼-3.4%7,9980.1%EnergyLOWLowe's Companies$1,124,881$45,705 ▲4.2%5,0700.1%Retail/WholesaleABBVAbbVie$1,067,501$38,052 ▼-3.4%5,7510.1%MedicalRTXRTX$1,062,004$30,518 ▼-2.8%7,2730.1%AerospaceAWKAmerican Water Works$1,039,430$87,778 ▲9.2%7,4720.1%UtilitiesXLUUtilities Select Sector SPDR Fund$948,072$325,742 ▼-25.6%11,6100.1%ETFSYYSysco$936,600$4,847 ▲0.5%12,3660.1%Consumer StaplesADPAutomatic Data Processing$887,5750.0%2,8780.1%Computer and TechnologyXLVHealth Care Select Sector SPDR Fund$879,5050.0%6,5250.1%ETFAXPAmerican Express$840,193$15,630 ▼-1.8%2,6340.1%FinanceShowing largest 100 holdings. 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