Who owns Arrow Financial (AROW)
Which tracked institutional funds hold AROW, how they are positioned, and who is buying versus exiting — from SEC Form 13F-HR filings. See AROW company fundamentals →
Ownership as of the 2026-Q2 13F filings (latest filed 2026-09-22). 13F is disclosed up to 45 days after quarter-end, so the most recent quarter fills in over the following weeks.
How the tape is positioned
The tracked-fund tape on AROW is one-sided between 2026-Q1 and 2026-Q2: 42 added or opened and 9 trimmed or exited — on balance accumulating.
A prompt to read the filings, not a verdict. 13F is a quarter-end snapshot disclosed up to 45 days late; a fund adds or exits for mandate, benchmark, and timing reasons that have nothing to do with a view on the stock. This is a starting question, not a signal to trade.
Conviction spread
AROW’s largest tracked holder by dollar value, BlackRock, Inc., sizes it at 0.0% of its own reported 13F book, while the median holder sizes it at 0.0% of theirs — a 0.0pp gap the other way — the median holder sizes AROW more heavily than its largest holder by dollar value does.
Book-share is each fund’s reported value in AROW divided by its whole reported 13F book, so it is comparable across funds of different sizes and is unaffected by stock splits. A higher share means a fund has committed more of its book to the name — a starting question about conviction, not a verdict or a signal to trade.
Institutional & insider positioning
Between 2026-Q1 and 2026-Q2, across 136 tracked filers holding AROW, 81 increased or opened the position and 57 reduced or closed it; over the same quarter, open-market insider Form 4s were net sales.
This fuses two public signals for the same quarter — how tracked institutions changed their positions and whether insiders bought or sold in the open market. It describes what was filed; it is a starting question, not a verdict or a signal to trade.
New buyers & exits
Funds opening or closing a position in AROW between the 2026-Q1 and 2026-Q2 13F filings, and the largest changes among funds holding it in both. New buyers and exits are counted on fund presence (split-invariant); adds and trims are measured on reported value.
New buyers 4
- Rhino Investment Partners, Inc$26M
- TRUST CO OF VERMONT$2M
- Forty-three Eighteen Advisors, LLC$1M
- XTX Topco Ltd$679K
Full exits 6
- ACADIAN ASSET MANAGEMENT LLC$8M
- MARSHALL WACE, LLP$4M
- MILLENNIUM MANAGEMENT LLC$2M
- Qube Research & Technologies Ltd$1M
- HighTower Advisors, LLC$1M
- JANE STREET GROUP, LLC$708K
Largest adds
- BlackRock, Inc.$15M
- Arrow Financial Corp$13M
- STATE STREET CORP$9M
- AMERICAN CENTURY COMPANIES INC$6M
- DIMENSIONAL FUND ADVISORS LP$5M
- GEODE CAPITAL MANAGEMENT, LLC$4M
Largest trims
- UBS Group AG$942K
- Squarepoint Ops LLC$349K
- FRANKLIN RESOURCES INC$259K
Institutional holders
One row per tracked fund, most shares held first (every row is from one quarter; reported value breaks ties). “% of value” is the fund’s share of this security’s tracked institutional value — not of shares outstanding.
| Fund | Shares | Reported value | % of value | Quarter |
|---|---|---|---|---|
| BlackRock, Inc. added | 1,399,785 | $57M | 17.1% | 2026-Q2 |
| Rhino Investment Partners, Inc added | 847,563 | $26M | 7.8% | 2026-Q2 |
| DIMENSIONAL FUND ADVISORS LP trimmed | 725,492 | $30M | 8.9% | 2026-Q2 |
| VANGUARD CAPITAL MANAGEMENT LLC trimmed | 623,719 | $26M | 7.6% | 2026-Q2 |
| STATE STREET CORP added | 490,098 | $20M | 6.0% | 2026-Q2 |
| AMERICAN CENTURY COMPANIES INC added | 432,990 | $18M | 5.3% | 2026-Q2 |
| GEODE CAPITAL MANAGEMENT, LLC added | 409,589 | $17M | 5.0% | 2026-Q2 |
| MORGAN STANLEY added | 224,482 | $9M | 2.7% | 2026-Q2 |
| HOTCHKIS & WILEY CAPITAL MANAGEMENT LLC added | 189,939 | $8M | 2.3% | 2026-Q2 |
| RENAISSANCE TECHNOLOGIES LLC trimmed | 186,721 | $8M | 2.3% | 2026-Q2 |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP added | 149,239 | $6M | 1.8% | 2026-Q2 |
| TWO SIGMA INVESTMENTS, LP added | 144,861 | $6M | 1.8% | 2026-Q2 |
| NORTHERN TRUST CORP added | 141,937 | $6M | 1.7% | 2026-Q2 |
| VANGUARD PORTFOLIO MANAGEMENT LLC added | 136,862 | $6M | 1.7% | 2026-Q2 |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC added | 125,799 | $5M | 1.5% | 2026-Q2 |
| Connor, Clark & Lunn Investment Management Ltd. added | 121,870 | $5M | 1.5% | 2026-Q2 |
| Rockefeller Capital Management L.P. added | 120,712 | $5M | 1.5% | 2026-Q2 |
| AQR CAPITAL MANAGEMENT LLC added | 116,804 | $5M | 1.4% | 2026-Q2 |
| GOLDMAN SACHS GROUP INC added | 99,248 | $4M | 1.2% | 2026-Q2 |
| VANGUARD FIDUCIARY TRUST CO added | 96,076 | $4M | 1.2% | 2026-Q2 |
| Bank of New York Mellon Corp added | 89,370 | $4M | 1.1% | 2026-Q2 |
| VOYA INVESTMENT MANAGEMENT LLC trimmed | 82,267 | $3M | 1.0% | 2026-Q2 |
| MARTINGALE ASSET MANAGEMENT L P added | 75,510 | $3M | 0.9% | 2026-Q2 |
| FMR LLC added | 65,192 | $3M | 0.8% | 2026-Q2 |
| SEGALL BRYANT & HAMILL, LLC trimmed | 64,794 | $3M | 0.8% | 2026-Q2 |
| JOHNSON INVESTMENT COUNSEL INC | 62,192 | $3M | 0.8% | 2026-Q2 |
| CITADEL ADVISORS LLC added | 59,188 | $2M | 0.7% | 2026-Q2 |
| PRICE T ROWE ASSOCIATES INC /MD/ added | 55,668 | $2M | 0.7% | 2026-Q2 |
| TRUST CO OF VERMONT trimmed | 54,365 | $2M | 0.7% | 2026-Q2 |
| LOS ANGELES CAPITAL MANAGEMENT LLC added | 52,908 | $2M | 0.6% | 2026-Q2 |
| Nuveen, LLC added | 50,718 | $2M | 0.6% | 2026-Q2 |
| Quantinno Capital Management LP added | 41,833 | $2M | 0.5% | 2026-Q2 |
| BANK OF AMERICA CORP /DE/ trimmed | 31,929 | $1M | 0.4% | 2026-Q2 |
| Integrated Quantitative Investments LLC added | 31,124 | $1M | 0.4% | 2026-Q2 |
| LAZARD ASSET MANAGEMENT LLC added | 30,157 | $1M | 0.4% | 2026-Q2 |
| AMERIPRISE FINANCIAL INC added | 28,217 | $1M | 0.3% | 2026-Q2 |
| SummerHaven Investment Management, LLC | 27,574 | $1M | 0.3% | 2026-Q2 |
| Forty-three Eighteen Advisors, LLC new | 26,826 | $1M | 0.3% | 2026-Q2 |
| Gallagher Fiduciary Advisors, LLC trimmed | 25,106 | $1M | 0.3% | 2026-Q2 |
| Atria Investments, Inc trimmed | 24,999 | $1M | 0.3% | 2026-Q2 |
| CITIZENS FINANCIAL GROUP INC/RI added | 24,471 | $1M | 0.3% | 2026-Q2 |
| Private Advisor Group, LLC | 24,396 | $1,000K | 0.3% | 2026-Q2 |
| Creative Planning added | 22,103 | $906K | 0.3% | 2026-Q2 |
| ALLIANCEBERNSTEIN L.P. added | 22,083 | $741K | 0.2% | 2026-Q2 |
| COMMONWEALTH EQUITY SERVICES, LLC trimmed | 20,924 | $858K | 0.3% | 2026-Q2 |
| RHUMBLINE ADVISERS trimmed | 20,853 | $855K | 0.3% | 2026-Q2 |
| US BANCORP \DE\ trimmed | 20,067 | $823K | 0.2% | 2026-Q2 |
| Legato Capital Management LLC added | 19,976 | $819K | 0.2% | 2026-Q2 |
| Invesco Ltd. trimmed | 18,838 | $772K | 0.2% | 2026-Q2 |
| SUSQUEHANNA FUNDAMENTAL INVESTMENTS, LLC added | 16,986 | $696K | 0.2% | 2026-Q2 |
| Midwest Trust Co trimmed | 16,854 | $691K | 0.2% | 2026-Q2 |
| XTX Topco Ltd added | 16,566 | $679K | 0.2% | 2026-Q2 |
| DEUTSCHE BANK AG\ added | 16,031 | $657K | 0.2% | 2026-Q2 |
| STATE OF WISCONSIN INVESTMENT BOARD added | 15,799 | $648K | 0.2% | 2026-Q2 |
| ALPS ADVISORS INC added | 15,446 | $633K | 0.2% | 2026-Q2 |
| CITIGROUP INC added | 14,620 | $599K | 0.2% | 2026-Q2 |
| EDMP, INC. | 14,237 | $584K | 0.2% | 2026-Q2 |
| WELLS FARGO & COMPANY/MN added | 14,045 | $576K | 0.2% | 2026-Q2 |
| UBS Group AG trimmed | 13,149 | $539K | 0.2% | 2026-Q2 |
| SEI INVESTMENTS CO trimmed | 12,328 | $505K | 0.2% | 2026-Q2 |
| PRUDENTIAL FINANCIAL INC new | 10,766 | $441K | 0.1% | 2026-Q2 |
| FRANKLIN RESOURCES INC trimmed | 10,764 | $441K | 0.1% | 2026-Q2 |
| IEQ CAPITAL, LLC added | 10,604 | $435K | 0.1% | 2026-Q2 |
| Washington Trust Advisors, Inc. | 10,310 | $423K | 0.1% | 2026-Q2 |
| MetLife Investment Management, LLC | 9,861 | $404K | 0.1% | 2026-Q2 |
| Sequoia Financial Advisors, LLC new | 9,798 | $402K | 0.1% | 2026-Q2 |
| Mariner, LLC added | 9,596 | $393K | 0.1% | 2026-Q2 |
| RAYMOND JAMES FINANCIAL INC added | 9,141 | $375K | 0.1% | 2026-Q2 |
| STIFEL FINANCIAL CORP new | 8,991 | $369K | 0.1% | 2026-Q2 |
| Russell Investments Group, Ltd. added | 8,702 | $357K | 0.1% | 2026-Q2 |
| Odyssean, LLC | 8,542 | $350K | 0.1% | 2026-Q2 |
| IFG Advisory, LLC | 7,937 | $325K | 0.1% | 2026-Q2 |
| JPMORGAN CHASE & CO added | 7,769 | $320K | 0.1% | 2026-Q2 |
| MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. trimmed | 7,571 | $310K | 0.1% | 2026-Q2 |
| BARCLAYS PLC added | 7,489 | $307K | 0.1% | 2026-Q2 |
| Rafferty Asset Management, LLC new | 7,253 | $297K | 0.1% | 2026-Q2 |
| StoneX Group Inc. new | 6,739 | $257K | 0.1% | 2026-Q2 |
| NEW YORK STATE COMMON RETIREMENT FUND | 6,651 | $273K | 0.1% | 2026-Q2 |
| MERCER GLOBAL ADVISORS INC /ADV new | 6,588 | $270K | 0.1% | 2026-Q2 |
| Corient Private Wealth LP trimmed | 6,174 | $253K | 0.1% | 2026-Q2 |
| PARR MCKNIGHT WEALTH MANAGEMENT GROUP, LLC trimmed | 6,000 | $246K | 0.1% | 2026-Q2 |
| FIRST TRUST ADVISORS LP trimmed | 5,826 | $239K | 0.1% | 2026-Q2 |
| Squarepoint Ops LLC trimmed | 5,664 | $232K | 0.1% | 2026-Q2 |
| Integrated Wealth Concepts LLC new | 5,610 | $230K | 0.1% | 2026-Q2 |
| INTECH INVESTMENT MANAGEMENT LLC trimmed | 5,452 | $223K | 0.1% | 2026-Q2 |
| LPL Financial LLC trimmed | 5,302 | $217K | 0.1% | 2026-Q2 |
| Aptus Capital Advisors, LLC new | 5,226 | $214K | 0.1% | 2026-Q2 |
| One Day In July LLC new | 5,161 | $212K | 0.1% | 2026-Q2 |
| Vanguard Global Advisers, LLC | 5,136 | $211K | 0.1% | 2026-Q2 |
| Aquatic Capital Management LLC added | 5,025 | $206K | 0.1% | 2026-Q2 |
| BNP PARIBAS FINANCIAL MARKETS added | 4,957 | $203K | 0.1% | 2026-Q2 |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE new | 4,920 | $202K | 0.1% | 2026-Q2 |
| Plante Moran Financial Advisors, LLC | 4,905 | $201K | 0.1% | 2026-Q2 |
| Police & Firemen's Retirement System of New Jersey | 4,600 | $189K | 0.1% | 2026-Q2 |
| ROYAL BANK OF CANADA added | 2,978 | $122K | 0.0% | 2026-Q2 |
| OSAIC HOLDINGS, INC. added | 2,595 | $106K | 0.0% | 2026-Q2 |
| ADIRONDACK TRUST CO | 2,456 | $101K | 0.0% | 2026-Q2 |
| Pinnacle Wealth Planning Services, Inc. | 1,745 | $72K | 0.0% | 2026-Q2 |
| Legal & General Group Plc added | 1,604 | $66K | 0.0% | 2026-Q2 |
Ownership over time
Tracked institutional holder count and total shares held by filing quarter (independent scales). The curated-era tail and any mid-ingest latest quarter are handled honestly — a partial quarter is not drawn as a collapse.
Reading this table
Funds hold the same stock for different reasons — an index fund “holds” almost everything, an active manager sizes a name to a mandate and a benchmark, and each fund entered at its own price and time. Because 13F is filed up to 45 days after quarter-end, every row is a backward-looking snapshot; a manager may have traded since. Share-class siblings (a company’s A and C shares) are rolled up to one line so a dual-class name is never double-counted. Compare like-for-like. A large holder is not an endorsement, and a fund exiting is not a warning — this is a starting question, not a verdict.
About 13F filings
A Form 13F is a quarterly disclosure that institutional investment managers with over $100 million in US-listed equities must file with the SEC. In plain English: it is a snapshot of the long stock positions a fund held at the end of a quarter. It covers long US-listed equities only — not short positions, options, cash, or private holdings — and the funds shown are the large sample we track, not the complete 13F universe.