Arrow Financial Corporation (AROW) Ownership
AROW ownership summary
as of October 18, 2026- Institutions
- 54.1% of shares outstanding
- Insiders
- 2.96% of shares outstanding
- Shares outstanding
- 18.5M
- Float
- 16.2M shares available to trade
- Short interest
- 3.66% 664K shares short
- Days to cover
- 7.63 short interest up 7.7% vs prior month
- Institutions 54.10%
- Insiders 2.96%
- Other investors 42.94%
AROW top institutional holders
20 largest| # | Holder | % of shares | Shares | Value | Change | Reported |
|---|---|---|---|---|---|---|
| 1 | ARROW FINANCIAL CORP(Junk) | 10.04% | 1.9M | $68.5M | −18,876 (−1.0%) | June 30, 2026 |
| 2 | BlackRock Inc | 7.56% | 1.4M | $51.6M | +148,528 (+11.9%) | June 30, 2026 |
| 3 | Rhino Investment Partners, Inc. | 4.58% | 848K | $31.2M | +847,563 (0.0%) | June 30, 2026 |
| 4 | Dimensional Fund Advisors, Inc. | 3.92% | 725K | $26.7M | −4,979 (−0.7%) | June 30, 2026 |
| 5 | Vanguard Capital Management, LLC | 3.37% | 624K | $23.0M | −13,808 (−2.2%) | June 30, 2026 |
| 6 | State Street Corp | 2.65% | 490K | $18.1M | +151,943 (+44.9%) | June 30, 2026 |
| 7 | American Century Companies Inc | 2.34% | 433K | $16.0M | +89,734 (+26.1%) | June 30, 2026 |
| 8 | Geode Capital Management, LLC | 2.21% | 410K | $15.1M | +38,798 (+10.5%) | June 30, 2026 |
| 9 | Acadian Asset Management LLC | 1.86% | 345K | $12.7M | +92,609 (+36.7%) | June 30, 2026 |
| 10 | Morgan Stanley - Brokerage Accounts | 1.21% | 224K | $8.3M | +46,673 (+26.2%) | June 30, 2026 |
| 11 | Hotchkis & Wiley Capital Management LLC | 1.03% | 190K | $7.0M | +3,700 (+2.0%) | June 30, 2026 |
| 12 | Renaissance Technologies Corp | 1.01% | 187K | $6.9M | −43,563 (−18.9%) | June 30, 2026 |
| 13 | Arrowstreet Capital Limited Partnership | 0.81% | 149K | $5.5M | +34,790 (+30.4%) | June 30, 2026 |
| 14 | Two Sigma Investments LLC | 0.78% | 145K | $5.3M | +58,344 (+67.4%) | June 30, 2026 |
| 15 | Northern Trust Corp | 0.77% | 142K | $5.2M | +8,466 (+6.3%) | June 30, 2026 |
| 16 | Vanguard Portfolio Management, LLC | 0.74% | 137K | $5.0M | +15,287 (+12.6%) | June 30, 2026 |
| 17 | Charles Schwab Investment Management Inc | 0.68% | 126K | $4.6M | +3,538 (+2.9%) | June 30, 2026 |
| 18 | Connor Clark & Lunn Inv Mgmt Ltd | 0.66% | 122K | $4.5M | +18,610 (+18.0%) | June 30, 2026 |
| 19 | Rockefeller Capital Management L.P. | 0.65% | 121K | $4.4M | +407 (+0.3%) | June 30, 2026 |
| 20 | AQR Capital Management LLC | 0.63% | 117K | $4.3M | +19,777 (+20.4%) | June 30, 2026 |
Value at the latest close. Change = shares bought or sold in the latest quarterly filing (13F). In the top 20, 16 holders added 1.6M shares and 4 cut 81K.
AROW top mutual fund and ETF holders
20 largest| # | Holder | % of shares | Shares | Value | Change | Reported |
|---|---|---|---|---|---|---|
| 1 | iShares Russell 2000 ETF | 2.47% | 457K | $16.8M | +3,480 (+0.8%) | September 30, 2026 |
| 2 | Vanguard MStar Total Stk Mkt Idx Invest | 2.40% | 445K | $16.4M | — | August 31, 2026 |
| 3 | Avantis US Small Cap Value ETF | 2.34% | 434K | $16.0M | +768 (+0.2%) | September 30, 2026 |
| 4 | Fidelity Small Cap Index | 0.98% | 181K | $6.7M | +1,719 (+1.0%) | July 31, 2026 |
| 5 | iShares Russell 2000 Value ETF | 0.87% | 161K | $5.9M | +244 (+0.2%) | September 30, 2026 |
| 6 | State Street® SPDR® S&PRgnllBkgETF | 0.65% | 120K | $4.4M | +3,584 (+3.1%) | September 30, 2026 |
| 7 | DFA US Targeted Value I | 0.62% | 116K | $4.3M | — | August 31, 2026 |
| 8 | Vanguard Russell 2000 ETF | 0.52% | 96K | $3.5M | +1,178 (+1.2%) | September 30, 2026 |
| 9 | Dimensional US Targeted Value ETF | 0.51% | 95K | $3.5M | — | September 30, 2026 |
| 10 | DFA US Micro Cap I | 0.51% | 94K | $3.5M | — | August 31, 2026 |
| 11 | Schwab US Small-Cap ETF™ | 0.46% | 86K | $3.2M | +54 (+0.1%) | September 30, 2026 |
| 12 | DFA US Small Cap I | 0.41% | 75K | $2.8M | — | August 31, 2026 |
| 13 | First Trust Dow Jones Sel MicroCap ETF | 0.38% | 70K | $2.6M | — | September 30, 2026 |
| 14 | Fidelity Extended Market Index | 0.37% | 68K | $2.5M | −4,507 (−6.2%) | August 31, 2026 |
| 15 | Fidelity Small-Mid Multifactor ETF | 0.37% | 68K | $2.5M | — | September 30, 2026 |
| 16 | Fidelity VIP Disciplined Small Cap Init | 0.31% | 58K | $2.1M | — | July 31, 2026 |
| 17 | Dimensional US Small Cap ETF | 0.31% | 57K | $2.1M | — | September 30, 2026 |
| 18 | iShares Micro-Cap ETF | 0.28% | 53K | $1.9M | −364 (−0.7%) | September 30, 2026 |
| 19 | Fidelity® SAI Small-Mid Cap Momt Idx | 0.24% | 44K | $1.6M | +585 (+1.3%) | August 31, 2026 |
| 20 | Johnson Opportunity | 0.24% | 44K | $1.6M | −11,000 (−20.1%) | August 31, 2026 |
Funds report holdings monthly or quarterly; dates differ by fund.
AROW insider transactions
latest 8| Date | Name | Transaction | Price | Shares | Value |
|---|---|---|---|---|---|
| 2025-12-24 | David S Demarco | Buy | $31.78 | 3,035 | $96,452 |
| 2025-11-10 | Daniel James White | Buy | $30.14 | 1,644 | $49,550 |
| 2025-11-04 | Penko Krassimir Ivanov | Buy | $29.82 | 1,620 | $48,308 |
| 2025-09-10 | Penko Krassimir Ivanov | Buy | $29.10 | 5,000 | $145,500 |
| 2025-08-27 | Penko Krassimir Ivanov | Buy | $29.46 | 10,922 | $321,762 |
| 2025-08-26 | Penko Krassimir Ivanov | Buy | $29.46 | 1,078 | $31,758 |
| 2025-08-06 | Penko Krassimir Ivanov | Buy | $26.50 | 1,425 | $37,762 |
| 2025-05-01 | Raymond F O'conor | Sell | $23.78 | 2,000 | $47,560 |
Reported trades by company officers, directors and other filers (including disclosures by members of Congress where EODHD lists them). "—" where the filing gives no share count.
AROW shares outstanding
Year-end shares outstanding, adjusted for splits.
Who owns AROW
Institutional investors own 54.1% of Arrow Financial's shares and insiders 2.96%. The largest holder is ARROW FINANCIAL CORP(Junk) with 10.04% of the shares (1.9M), as of June 30, 2026. Among the top 20 institutions, 16 added shares and 4 reduced their stake in the latest filings. Short interest is 3.66% of the float, or 7.63 days of average trading volume. The share count rose 3.4% since 2014.
Related: AROW analyst forecast, AROW key metrics, AROW dividend history. See the AROW stock overview for the latest quote and news.
AROW ownership FAQ
Who owns the most Arrow Financial stock?
The largest shareholders of Arrow Financial are ARROW FINANCIAL CORP(Junk) (10.04%), BlackRock Inc (7.56%), Rhino Investment Partners, Inc. (4.58%), Dimensional Fund Advisors, Inc. (3.92%), Vanguard Capital Management, LLC (3.37%).
What percentage of Arrow Financial is owned by institutions?
Institutions hold 54.1% of Arrow Financial's shares outstanding; insiders hold 2.96%.
Which funds own Arrow Financial?
The largest fund holders of Arrow Financial are iShares Russell 2000 ETF (2.47%), Vanguard MStar Total Stk Mkt Idx Invest (2.40%), Avantis US Small Cap Value ETF (2.34%), Fidelity Small Cap Index (0.98%), iShares Russell 2000 Value ETF (0.87%).
What is Arrow Financial's short interest?
664K shares of Arrow Financial were sold short, 3.66% of the float; at the average daily volume it would take 7.63 days to cover.
Are insiders buying or selling Arrow Financial?
Of the latest 8 reported insider transactions in Arrow Financial (since May 1, 2025), 7 were purchases and 1 were sales.
How many shares of Arrow Financial are outstanding?
Arrow Financial has 18.5M shares outstanding, of which 16.2M are in the public float.