| Arrow Financial Corp | 1,859,963 | $76.2m | 6.8% |
| BlackRock, Inc. | 1,399,785 | $57.4m | 0.0% |
| DIMENSIONAL FUND ADVISORS LP | 725,492 | $29.7m | 0.0% |
| Rhino Investment Partners, Inc | 847,563 | $26.1m | 7.9% |
| VANGUARD CAPITAL MANAGEMENT LLC | 623,719 | $25.6m | 0.0% |
| STATE STREET CORP | 490,098 | $20.1m | 0.0% |
| AMERICAN CENTURY COMPANIES INC | 432,990 | $17.7m | 0.0% |
| GEODE CAPITAL MANAGEMENT, LLC | 409,589 | $16.8m | 0.0% |
| ACADIAN ASSET MANAGEMENT LLC | 345,161 | $14.1m | 0.0% |
| MORGAN STANLEY | 224,482 | $9.2m | 0.0% |
| HOTCHKIS & WILEY CAPITAL MANAGEMENT LLC | 189,939 | $7.8m | 0.0% |
| RENAISSANCE TECHNOLOGIES LLC | 186,721 | $7.7m | 0.0% |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP | 149,239 | $6.1m | 0.0% |
| TWO SIGMA INVESTMENTS, LP | 144,861 | $5.9m | 0.0% |
| NORTHERN TRUST CORP | 141,937 | $5.8m | 0.0% |
| VANGUARD PORTFOLIO MANAGEMENT LLC | 136,862 | $5.6m | 0.0% |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC | 125,799 | $5.2m | 0.0% |
| Connor, Clark & Lunn Investment Management Ltd. | 121,870 | $5.0m | 0.0% |
| Rockefeller Capital Management L.P. | 120,712 | $4.9m | 0.0% |
| AQR CAPITAL MANAGEMENT LLC | 116,804 | $4.8m | 0.0% |
| GOLDMAN SACHS GROUP INC | 99,248 | $4.1m | 0.0% |
| VANGUARD FIDUCIARY TRUST CO | 96,076 | $3.9m | 0.0% |
| Bank of New York Mellon Corp | 89,370 | $3.7m | 0.0% |
| VOYA INVESTMENT MANAGEMENT LLC | 82,267 | $3.4m | 0.0% |
| MARTINGALE ASSET MANAGEMENT L P | 75,510 | $3.1m | 0.1% |