ARROW FINL CORP

Ticker: AROW CUSIP: 042744102 Class: Common Stock

Ground Swell Capital, LLC's Holding History (CIK: 0001534450)

Note: Option positions (PUT/CALL) are excluded.

Q3 2014

Shares 64 Value ($000) $2 Avg Close $14.75 Range $14.28 - $15.29

Period	Shares	Value ($000)	Average Close	Price Range
Q3 2014	64	$2	$14.75	$14.28 - $15.29