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Arrow Financial
AROW

Name Holding Trade Value Shares
Change 		Change in
Stake
AF
1
Arrow Financial
New York
$32.7M +$32.3M +1,774,877 New
BIT
2
BlackRock Institutional Trust
California
$11.6M +$11.5M +629,184 New
Vanguard Group
3
Vanguard Group
Pennsylvania
$9.48M +$9.38M +515,098 New
Dimensional Fund Advisors
4
Dimensional Fund Advisors
Texas
$8.3M +$8.21M +450,579 New
BFA
5
BlackRock Fund Advisors
California
$6.72M +$6.65M +365,173 New
Invesco
6
Invesco
Georgia
$6.46M +$6.39M +350,844 New
Northern Trust
7
Northern Trust
Illinois
$4.43M +$4.39M +240,691 New
State Street
8
State Street
Massachusetts
$4.16M +$4.12M +225,981 New
Norges Bank
9
Norges Bank
Norway
$2.66M +$2.63M +144,309 New
WTNA
10
Wilmington Trust National Association
Delaware
$2.51M +$2.48M +136,333 New
Renaissance Technologies
11
Renaissance Technologies
New York
$2.12M +$2.1M +115,389 New
PSUF
12
People's United Financial
Connecticut
$2.12M +$2.1M +115,323 New
Bank of New York Mellon
13
Bank of New York Mellon
New York
$1.8M +$1.78M +97,888 New
ANI
14
American National Insurance
Texas
$1.36M +$1.35M +74,031 New
TCIM
15
TIAA CREF Investment Management
New York
$1.36M +$1.35M +73,985 New
Geode Capital Management
16
Geode Capital Management
Massachusetts
$1.27M +$1.25M +68,808 New
California Public Employees Retirement System
17
California Public Employees Retirement System
California
$1.1M +$1.09M +59,991 New
BIM
18
BlackRock Investment Management
Delaware
$914K +$904K +49,641 New
Wells Fargo
19
Wells Fargo
California
$865K +$856K +46,959 New
PPA
20
Parametric Portfolio Associates
Washington
$792K +$784K +43,033 New
Charles Schwab
21
Charles Schwab
California
$632K +$621K +34,097 New
UR
22
USCA RIA
Texas
$590K +$583K +32,021 New
Schroder Investment Management Group
23
Schroder Investment Management Group
United Kingdom
$531K +$525K +28,837 New
AllianceBernstein
24
AllianceBernstein
Tennessee
$478K +$473K +25,941 New
CS
25
Credit Suisse
Switzerland
$473K +$468K +25,713 New
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