ARROW FINANCIAL CORP

FundStock

CIK 0000717538 · Q2 2026

13F Equity AUM

$1.1B

+12.3% QoQ

Positions

162

+5 QoQ

AUM Rank

#2,243

Top 26%

Skill Alpha (FF)

-0.1%/yr^ns

No Clear Edge

Rank #2,941 · Top 35%

vs S&P -1.9%/yr (unadj.)

Quarters Tracked

~13 years

Portfolio Concentration

Top 5: 39.6%Top 10: 55.3%Top 20: 70.5%

VOO12.3%

NDQ9.4%

AROW6.8%

IJH6.3%

IJR4.8%

IDEV4.5%

SPYV4.2%

IBHG3.0%

VO2.1%

VOLT1.9%

Others (152)44.7%

HHI (Herfindahl-Hirschman Index) measures portfolio concentration. Low (<1500) = diversified, Moderate (1500-2500), High (>2500) = concentrated bets.

Sector Allocation

Financial Services77.6%

Technology8.6%

Communication Services3.0%

Healthcare2.4%

Industrials2.3%

Consumer Cyclical2.2%

Other3.8%

Portfolio weight by GICS sector based on latest 13F filing. Sectors below 2% are grouped as “Other.”

Position Sizing

Positions: 162Median: 0.13%Avg: 0.62%

0–0.5%

130(19.0%)

0.5–1%

8(5.3%)

1–3%

17(27.3%)

3–5%

3(13.5%)

5%+

4(34.8%)

Count of positions per weight bucket — (%) = combined portfolio weight

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Portfolio Overlap

Shared: 0Unique: 162vs 20 funds

0%Low

162

Fund positions

Consensus CUSIPs

Jaccard similarity of this fund’s portfolio vs the consensus of top 20 funds by AUM. Low (<15%) = contrarian, Moderate (15-40%), High (>40%) = follows the crowd.

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Position Changes This Quarter

New7Increased42Decreased87Exited2

New Positions

IBHG3.0%

+1.5M

ISHARES TR IBONDS DE…0.3%

+132K

HONEYWELL TECHNOLOGI…0.1%

+5K

HONEYWELL AEROSPACE …0.1%

+5K

DE0.0%

+352

UBER0.0%

+4K

SHW0.0%

+597

Increased

VO2.1%

+220K(+286%)

TLH1.6%

+86K(+95%)

IBDZ1.2%

+71K(+16%)

JEPI1.6%

+51K(+20%)

VOLT1.9%

+38K(+8%)

IBCA1.4%

+29K(+5%)

IBDY1.4%

+20K(+3%)

IBDW1.4%

+19K(+3%)

IBDV1.4%

+18K(+3%)

IBDX1.4%

+16K(+3%)

Decreased

IBHF0.3%

-1,225,161(-91%)

IBDS0.5%

-225,249(-52%)

IBDR0.4%

-224,783(-53%)

IJR4.8%

-24,333(-6%)

IJH6.3%

-18,892(-2%)

AROW6.8%

-18,876(-1%)

SPYV4.2%

-10,949(-1%)

XLRE0.0%

-8,229(-99%)

IR0.0%

-5,009(-47%)

VCSH0.4%

-4,779(-8%)

Exited

HON

-10,307

INTU

-750

Quarter-over-quarter changes compared to prior 13F filing. New = first appearance; Exited = no longer held.

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Holdings

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