INTERNATIONAL BUSINESS MACHS

Ticker: IBM CUSIP: 459200101 Class: COM

Arrow Financial Corp's Holding History (CIK: 0000717538)

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

Q4 2025

Shares 4,797 Value ($000) $1,421 Avg Close $298.78 Range $262.11 - $324.90

Q3 2025

Shares 4,867 Value ($000) $1,373 Avg Close $259.55 Range $232.08 - $292.01

Q2 2025

Shares 4,667 Value ($000) $1,376 Avg Close $253.82 Range $210.49 - $292.56

Q1 2025

Shares 5,249 Value ($000) $1,305 Avg Close $239.40 Range $209.20 - $261.47

Q4 2024

Shares 5,270 Value ($000) $1,159 Avg Close $216.31 Range $196.83 - $233.32

Q3 2024

Shares 5,547 Value ($000) $1,226 Avg Close $188.97 Range $166.24 - $216.80

Q2 2024

Shares 5,602 Value ($000) $969 Avg Close $165.85 Range $154.39 - $183.50

Q1 2024

Shares 5,632 Value ($000) $1,075 Avg Close $172.56 Range $148.54 - $189.10

Q4 2023

Shares 5,626 Value ($000) $920 Avg Close $141.50 Range $126.39 - $156.49

Q3 2023

Shares 5,984 Value ($000) $840 Avg Close $131.75 Range $120.98 - $141.33

Q2 2023

Shares 6,029 Value ($000) $807 Avg Close $118.05 Range $110.47 - $128.27

Q1 2023

Shares 6,079 Value ($000) $797 Avg Close $120.73 Range $110.43 - $131.92

Q4 2022

Shares 6,569 Value ($000) $1 Avg Close $123.05 Range $102.35 - $137.32

Q3 2022

Shares 6,843 Value ($000) $813 Avg Close $115.64 Range $105.06 - $124.09

Q2 2022

Shares 6,975 Value ($000) $984 Avg Close $117.50 Range $107.95 - $126.60

Q1 2022

Shares 7,000 Value ($000) $910 Avg Close $112.10 Range $102.68 - $121.43

Q4 2021

Shares 7,035 Value ($000) $939 Avg Close $106.49 Range $97.83 - $117.62

Q3 2021

Shares 7,913 Value ($000) $1,100 Avg Close $112.12 Range $106.97 - $117.48

Q2 2021

Shares 8,033 Value ($000) $1,178 Avg Close $113.44 Range $102.70 - $121.73

Q1 2021

Shares 8,061 Value ($000) $1,073 Avg Close $98.07 Range $91.22 - $107.97

Q4 2020

Shares 8,126 Value ($000) $1,023 Avg Close $93.41 Range $81.15 - $103.82

Q3 2020

Shares 8,200 Value ($000) $998 Avg Close $93.86 Range $87.12 - $99.96

Q2 2020

Shares 8,365 Value ($000) $1,010 Avg Close $91.40 Range $78.00 - $102.76

Q1 2020

Shares 8,532 Value ($000) $947 Avg Close $98.28 Range $67.58 - $117.24

Q4 2019

Shares 9,151 Value ($000) $1,226 Avg Close $99.90 Range $95.55 - $107.55

Q3 2019

Shares 9,851 Value ($000) $1,433 Avg Close $102.47 Range $94.04 - $110.34

Q2 2019

Shares 9,861 Value ($000) $1,360 Avg Close $98.62 Range $91.51 - $103.66

Q1 2019

Shares 9,914 Value ($000) $1,398 Avg Close $94.64 Range $78.71 - $101.33

Q4 2018

Shares 9,964 Value ($000) $1,132 Avg Close $87.95 Range $74.66 - $107.42

Q3 2018

Shares 12,885 Value ($000) $1,948 Avg Close $101.25 Range $95.14 - $106.71

Q2 2018

Shares 13,634 Value ($000) $1,904 Avg Close $99.95 Range $94.63 - $110.30

Q1 2018

Shares 15,106 Value ($000) $2,318 Avg Close $107.30 Range $98.32 - $115.38

Q4 2017

Shares 15,834 Value ($000) $2,429 Avg Close $102.11 Range $96.94 - $108.49

Q3 2017

Shares 17,480 Value ($000) $2,536 Avg Close $96.87 Range $92.88 - $103.07

Q2 2017

Shares 19,935 Value ($000) $3,066 Avg Close $103.77 Range $98.95 - $115.36

Q1 2017

Shares 22,818 Value ($000) $3,974 Avg Close $114.39 Range $107.32 - $119.58

Q4 2016

Shares 22,940 Value ($000) $3,808 Avg Close $103.05 Range $95.06 - $110.31

Q3 2016

Shares 23,108 Value ($000) $3,671 Avg Close $101.76 Range $95.61 - $106.13

Q2 2016

Shares 23,260 Value ($000) $3,531 Avg Close $95.13 Range $90.08 - $99.15

Q1 2016

Shares 23,231 Value ($000) $3,518 Avg Close $84.07 Range $73.78 - $96.70

Q4 2015

Shares 24,488 Value ($000) $3,371 Avg Close $87.52 Range $82.31 - $94.87

Q3 2015

Shares 24,367 Value ($000) $3,531 Avg Close $95.35 Range $87.10 - $106.76

Q2 2015

Shares 25,799 Value ($000) $4,196 Avg Close $102.99 Range $96.57 - $107.49

Q1 2015

Shares 28,195 Value ($000) $4,525 Avg Close $96.47 Range $90.53 - $100.82

Q4 2014

Shares 29,805 Value ($000) $4,783 Avg Close $100.47 Range $91.12 - $114.79

Q3 2014

Shares 31,053 Value ($000) $5,895 Avg Close $114.33 Range $108.62 - $117.41

Q2 2014

Shares 31,469 Value ($000) $5,704 Avg Close $112.28 Range $107.17 - $118.40

Q1 2014

Shares 31,509 Value ($000) $6,065 Avg Close $109.22 Range $101.79 - $116.27

Q4 2013

Shares 36,933 Value ($000) $6,928 Avg Close $106.40 Range $101.46 - $111.01

Q3 2013

Shares 36,883 Value ($000) $6,830 Avg Close $111.55 Range $106.48 - $117.56

Q2 2013

Shares 41,950 Value ($000) $8,016 Avg Close $118.94 Range $109.29 - $125.13

Period	Shares	Value ($000)	Average Close	Price Range
Q4 2025	4,797	$1,421	$298.78	$262.11 - $324.90
Q3 2025	4,867	$1,373	$259.55	$232.08 - $292.01
Q2 2025	4,667	$1,376	$253.82	$210.49 - $292.56
Q1 2025	5,249	$1,305	$239.40	$209.20 - $261.47
Q4 2024	5,270	$1,159	$216.31	$196.83 - $233.32
Q3 2024	5,547	$1,226	$188.97	$166.24 - $216.80
Q2 2024	5,602	$969	$165.85	$154.39 - $183.50
Q1 2024	5,632	$1,075	$172.56	$148.54 - $189.10
Q4 2023	5,626	$920	$141.50	$126.39 - $156.49
Q3 2023	5,984	$840	$131.75	$120.98 - $141.33
Q2 2023	6,029	$807	$118.05	$110.47 - $128.27
Q1 2023	6,079	$797	$120.73	$110.43 - $131.92
Q4 2022	6,569	$1	$123.05	$102.35 - $137.32
Q3 2022	6,843	$813	$115.64	$105.06 - $124.09
Q2 2022	6,975	$984	$117.50	$107.95 - $126.60
Q1 2022	7,000	$910	$112.10	$102.68 - $121.43
Q4 2021	7,035	$939	$106.49	$97.83 - $117.62
Q3 2021	7,913	$1,100	$112.12	$106.97 - $117.48
Q2 2021	8,033	$1,178	$113.44	$102.70 - $121.73
Q1 2021	8,061	$1,073	$98.07	$91.22 - $107.97
Q4 2020	8,126	$1,023	$93.41	$81.15 - $103.82
Q3 2020	8,200	$998	$93.86	$87.12 - $99.96
Q2 2020	8,365	$1,010	$91.40	$78.00 - $102.76
Q1 2020	8,532	$947	$98.28	$67.58 - $117.24
Q4 2019	9,151	$1,226	$99.90	$95.55 - $107.55
Q3 2019	9,851	$1,433	$102.47	$94.04 - $110.34
Q2 2019	9,861	$1,360	$98.62	$91.51 - $103.66
Q1 2019	9,914	$1,398	$94.64	$78.71 - $101.33
Q4 2018	9,964	$1,132	$87.95	$74.66 - $107.42
Q3 2018	12,885	$1,948	$101.25	$95.14 - $106.71
Q2 2018	13,634	$1,904	$99.95	$94.63 - $110.30
Q1 2018	15,106	$2,318	$107.30	$98.32 - $115.38
Q4 2017	15,834	$2,429	$102.11	$96.94 - $108.49
Q3 2017	17,480	$2,536	$96.87	$92.88 - $103.07
Q2 2017	19,935	$3,066	$103.77	$98.95 - $115.36
Q1 2017	22,818	$3,974	$114.39	$107.32 - $119.58
Q4 2016	22,940	$3,808	$103.05	$95.06 - $110.31
Q3 2016	23,108	$3,671	$101.76	$95.61 - $106.13
Q2 2016	23,260	$3,531	$95.13	$90.08 - $99.15
Q1 2016	23,231	$3,518	$84.07	$73.78 - $96.70
Q4 2015	24,488	$3,371	$87.52	$82.31 - $94.87
Q3 2015	24,367	$3,531	$95.35	$87.10 - $106.76
Q2 2015	25,799	$4,196	$102.99	$96.57 - $107.49
Q1 2015	28,195	$4,525	$96.47	$90.53 - $100.82
Q4 2014	29,805	$4,783	$100.47	$91.12 - $114.79
Q3 2014	31,053	$5,895	$114.33	$108.62 - $117.41
Q2 2014	31,469	$5,704	$112.28	$107.17 - $118.40
Q1 2014	31,509	$6,065	$109.22	$101.79 - $116.27
Q4 2013	36,933	$6,928	$106.40	$101.46 - $111.01
Q3 2013	36,883	$6,830	$111.55	$106.48 - $117.56
Q2 2013	41,950	$8,016	$118.94	$109.29 - $125.13