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Livermore
Livermore
ZHEN

Arrow Financial Corp

SEC CIK
0000717538
Latest filing
Jul 31, 2026

The latest 13F from Arrow Financial Corp covers Q2 2026 (filed Jul 31, 2026): 162 long positions worth $1.12B. The top 10 holdings make up 55.3% of the portfolio, and the largest is Vanguard S&P 500 ETF at 12.3%. Livermore has 22 filings on Form 13F from this institution, going back to Q1 2021.

What changed in Q2 2026

Share counts compared with Q1 2026: how many positions were new, added to, reduced or sold out, and the biggest buys and sells. Dollar amounts are estimated at the quarter-end prices implied by the filing.

Full comparison
New
7
Est. +$39.3M
Added
41
Est. +$24.2M
Reduced
88
Est. −$58.2M
Sold out
2
Est. −$2.65M

Top 5 holdings

Share of this quarter's portfolio value

  1. Vanguard S&P 500 ETF922908363
    12.3%$137.0M
  2. Invesco QQQ Trust Series I46090E103
    9.4%$105.3M
  3. AROWArrow Financial Corp
    6.8%$76.2MHistory
  4. iShares Core S&P Mid-Cap ETF464287507
    6.3%$69.8M
  5. iShares Core S&P Small Cap ETF464287804
    4.8%$53.6M

Share of portfolio

Top 5 holdings and the other 157 positions, by share of portfolio value

  1. Vanguard S&P 500 ETF12.3%
  2. Invesco QQQ Trust Series I9.4%
  3. AROW6.8%
  4. iShares Core S&P Mid-Cap ETF6.3%
  5. iShares Core S&P Small Cap ETF4.8%
  6. Other 157 positions60.4%

Biggest buys

New and added positions, by estimated amount bought

  1. iShares Ibonds 2027 Term High Yield and Income ETF46436E478
    +$32.9MNew
  2. iShares Tr464288653
    +$8.63MAdded
  3. iShares Tr46438G166
    +$3.32MNew
  4. J P Morgan Exchange Traded F46641Q332
    +$2.90MAdded
  5. Invesco QQQ Trust Series I46090E103
    +$2.67MAdded

Largest weight increases

New and added positions, by percentage points of the portfolio gained

  1. iShares Ibonds 2027 Term High Yield and Income ETF46436E478
    +2.95 pp0.0% → 3.0%
  2. Invesco QQQ Trust Series I46090E103
    +1.34 pp8.1% → 9.4%
  3. iShares Tr464288653
    +0.67 pp0.9% → 1.6%
  4. iShares Tr46438G166
    +0.30 pp0.0% → 0.3%
  5. Tema ETF Trust87975E834
    +0.28 pp1.6% → 1.9%

Biggest sells

Reduced and sold-out positions, by estimated amount sold

  1. iShares Ibonds 2026 Term High Yield and Income ETF46436E528
    −$27.7MReduced
  2. iShares Ibonds Dec 2027 Term Corporate ETF46435UAA9
    −$5.46MReduced
  3. iShares Ibonds Dec 2026 Term Corporate ETF46435GAA0
    −$5.45MReduced
  4. iShares Core S&P Small Cap ETF464287804
    −$3.61MReduced
  5. HONHoneywell International Inc
    −$2.33MSold outHistory

Largest weight decreases

Reduced and sold-out positions, by percentage points of the portfolio lost

  1. iShares Ibonds 2026 Term High Yield and Income ETF46436E528
    −2.86 pp3.1% → 0.3%
  2. iShares Ibonds Dec 2027 Term Corporate ETF46435UAA9
    −0.61 pp1.1% → 0.5%
  3. iShares Ibonds Dec 2026 Term Corporate ETF46435GAA0
    −0.60 pp1.0% → 0.4%
  4. State Street SPDR Portfolio S&P 500 Value ETF78464A508
    −0.25 pp4.4% → 4.2%
  5. HONHoneywell International Inc
    −0.23 pp0.2% → 0.0%History

Metrics

13F metrics for Q2 2026, computed only from the numbers in the filings. Definitions below.

Portfolio value
$1.12B
+$122.4M (+12.3%) vs. prior quarter
Positions
162
+5 vs. prior quarter
Top 10 concentration
55.3%
Top 10 as share of value
Turnover
5.8%
Q2 2026, one quarter
Average holding period
18.9 quarters
Weighted by value

How these are calculated

  • Portfolio value: the market value of all long positions in the 13F, as reported at quarter end, excluding options.
  • Top 10 concentration: the combined value of the 10 largest positions as a share of portfolio value.
  • Turnover: the smaller of this quarter's estimated purchases and estimated sales, divided by the average of this and last quarter's portfolio value. Estimates multiply the change in shares by the quarter-end price implied by the filing (market value divided by shares); new positions use this quarter's value and sold-out positions last quarter's. Only positions reported in shares count, and it is not calculated when the previous quarter was not filed.
  • Average holding period: how many consecutive quarters each current position has been held (including this one; a quarter without the position or without a filing starts the count over), weighted by this quarter's value. Counting starts with the first 13F in Livermore (Q1 2021), so positions held before then are understated.

13F filings by quarter

22 quarters, going back to Q1 2021. Bars show each quarter's 13F portfolio value; quarters without a filing are left blank.

Peak $1.12B (Q2 2026)

Q1 2021: $753.7MQ2 2021: $788.3MQ3 2021: $775.0MQ4 2021: $844.9MQ1 2022: $835.7MQ2 2022: $733.3MQ3 2022: $685.6MQ4 2022: $737.2MQ1 2023: $767.3MQ2 2023: $828.9MQ3 2023: $853.0MQ4 2023: $963.8MQ1 2024: $1.01BQ2 2024: $1.03BQ3 2024: $1.08BQ4 2024: $1.05BQ1 2025: $894.5MQ2 2025: $949.7MQ3 2025: $978.0MQ4 2025: $1.00BQ1 2026: $994.0MQ2 2026: $1.12B
Q1 2021Q2 2026
13F filings of Arrow Financial Corp by quarter
QuarterFiledPositionsValueTop 3 holdingsChangesFiling
Q2 2026Jul 31, 2026162$1.12BVanguard S&P 500 ETFInvesco QQQ Trust Series IAROWvs. Q1 2026SEC
Q1 2026May 11, 2026157$994.0MVanguard S&P 500 ETFInvesco QQQ Trust Series IAROWvs. Q4 2025SEC
Q4 2025Feb 5, 2026159$1.00BVanguard S&P 500 ETFInvesco QQQ Trust Series IAROWvs. Q3 2025SEC
Q3 2025Oct 21, 2025160$978.0MVanguard S&P 500 ETFInvesco QQQ Trust Series IiShares Core S&P Mid-Cap ETFvs. Q2 2025SEC
Q2 2025Aug 11, 2025160$949.7MVanguard S&P 500 ETFInvesco QQQ Trust Series IiShares Core S&P Mid-Cap ETFvs. Q1 2025SEC
Q1 2025May 5, 2025155$894.5MVanguard S&P 500 ETFInvesco QQQ Trust Series IiShares Core S&P Mid-Cap ETFvs. Q4 2024SEC
Q4 2024Feb 14, 2025167$1.05BVanguard S&P 500 ETFInvesco QQQ Trust Series IAROWvs. Q3 2024SEC
Q3 2024Nov 4, 2024340$1.08BVanguard S&P 500 ETFInvesco QQQ Trust Series IAROWvs. Q2 2024SEC
Q2 2024Jul 30, 2024336$1.03BVanguard S&P 500 ETFInvesco QQQ Trust Series IiShares Core S&P Mid-Cap ETFvs. Q1 2024SEC
Q1 2024May 21, 2024333$1.01BVanguard S&P 500 ETFiShares Core S&P Small Cap ETFiShares Core S&P Mid-Cap ETFvs. Q4 2023SEC
Q4 2023Feb 12, 2024348$963.8MVanguard S&P 500 ETFiShares Core S&P Small Cap ETFState Street SPDR Portfolio S&P 500 Value ETFvs. Q3 2023SEC
Q3 2023Nov 13, 2023344$853.0MVanguard S&P 500 ETFiShares Core S&P Small Cap ETFState Street SPDR Portfolio S&P 500 Value ETFvs. Q2 2023SEC
Q2 2023Aug 9, 2023324$828.9MVanguard S&P 500 ETFiShares Core S&P Small Cap ETFiShares Core S&P Mid-Cap ETFvs. Q1 2023SEC
Q1 2023May 3, 2023324$767.3MVanguard S&P 500 ETFiShares Core S&P Mid-Cap ETFiShares Core S&P Small Cap ETFvs. Q4 2022SEC
Q4 2022Feb 2, 2023333$737.2MVanguard S&P 500 ETFAROWiShares Core S&P Mid-Cap ETFvs. Q3 2022SEC
Q3 2022Nov 7, 2022339$685.6MVanguard S&P 500 ETFAROWiShares Core S&P Mid-Cap ETFvs. Q2 2022SEC
Q2 2022Jul 25, 2022352$733.3MVanguard S&P 500 ETFAROWiShares Core S&P Mid-Cap ETFvs. Q1 2022SEC
Q1 2022Apr 26, 2022354$835.7MVanguard S&P 500 ETFAROWVanguard Morningstar Mid-Cap ETFvs. Q4 2021SEC
Q4 2021Jan 28, 2022333$844.9MVanguard S&P 500 ETFVanguard Morningstar Mid-Cap ETFAROWvs. Q3 2021SEC
Q3 2021Oct 21, 2021325$775.0MVanguard S&P 500 ETFVanguard Morningstar Mid-Cap ETFAROWvs. Q2 2021SEC
Q2 2021Jul 21, 2021330$788.3MVanguard S&P 500 ETFVanguard Morningstar Mid-Cap ETFAROWvs. Q1 2021SEC
Q1 2021Apr 30, 2021315$753.7MVanguard S&P 500 ETFVanguard Morningstar Mid-Cap ETFAROW–SEC