Bank of Marin

In its 13F for Q2 2025 (holdings as of June 30, 2025, filed August 14, 2025), Bank of Marin reported 125 stock positions worth $132.3 million. Its top holding was Microsoft (MSFT) at 6.7% of the portfolio, followed by Apple (AAPL, 4.3%) and SS Technology Select Sector (XLK, 4.2%). Compared with Q1 2025, it opened 45 new positions, sold out of 10, added to 32 and reduced 29. The biggest buy was a new position in SS Technology Select Sector (XLK) and the biggest sale Apple (AAPL, shares −1%).

Most Recent 13F
Q2 2026
Location
Novato, CA
CIK
0001801145
Portfolio Value
$132.3M (Q2 2025)
SEC Filing
0001801145-25-000006 ↗ filed Aug 14, 2025

Holdings Value

0$50.0M$100.0M$150.0M Q1 2024: $113.6M Q1 2024 Q2 2024: $116.0M Q2 2024 Q3 2024: $123.9M Q3 2024 Q4 2024: $126.1M Q4 2024 Q1 2025: $78.5M Q1 2025 Q2 2025: $132.3M $132.3M Q2 2025 Q3 2025: $141.5M Q3 2025 Q4 2025: $144.6M Q4 2025 Q1 2026: $136.8M Q1 2026 Q2 2026: $143.2M Q2 2026

Holdings 125 stocks · $132.3M
MSFT Microsoft Corp. 6.67% 17,734 $8.8M Add +1.3%
AAPL Apple Inc. 4.27% 27,535 $5.6M Reduce -1.1%
XLK SS Technology Select Sector 4.17% 21,783 $5.5M New
NVDA Nvidia Corp. 3.09% 25,883 $4.1M Add +2.5%
AMZN Amazon.com Inc. 2.79% 16,815 $3.7M Add +3.4%
VOO Vanguard S&P 500 ETF 2.62% 6,095 $3.5M New
VO Vngrd Mrngstr MD-Cap ETF-Usd 2.45% 11,595 $3.2M New
XLY SS Consumer Disc Select Sect 2.31% 14,067 $3.1M New
COST Costco Wholesale Corp. 2.12% 2,837 $2.8M Add +0.8%
QQQ Invesco QQQ Trust Series 1 2.05% 4,927 $2.7M Reduce -3.8%
XLV SS Health Care Select Sector 2.04% 20,068 $2.7M Reduce -0.5%
VOX Vanguard Communication Servi 1.90% 14,656 $2.5M New
GOOGL Alphabet Inc. Class A 1.78% 13,361 $2.4M Add +2.5%
XLC SS Comm Select Sector SPDR 1.66% 20,230 $2.2M New
SCHO Schwab Short-Term US Treas 1.50% 81,581 $2.0M Reduce -5.2%
XLF SS Financial Select Sector 1.41% 35,530 $1.9M New
SPY SS SPDR S&P 500 ETF Trust-US 1.38% 2,952 $1.8M Add +0.0%
XLI SS Industrial Select Sector 1.33% 11,920 $1.8M New
VFH Vanguard Financials ETF 1.30% 13,486 $1.7M New
XLP SS Consumer Staples Sel Sect 1.19% 19,519 $1.6M New
V Visa Inc. Class A 1.18% 4,393 $1.6M New
BRK.B Berkshire Hathaway Inc. Class B 1.14% 3,107 $1.5M No change
GOVT iShares US Treasury Bond ETF 1.11% 63,984 $1.5M Reduce -0.5%
IVV iShares Core S&P 500 ETF 1.08% 2,302 $1.4M No change
DHR Danaher Corp. 1.03% 6,911 $1.4M Add +3.1%
META Meta Platforms Inc. Class A 1.02% 1,825 $1.3M Add +5.9%
BSX Boston Scientific Corp. 0.96% 11,863 $1.3M No change
BNDX Vanguard Total Intl Bond ETF 0.94% 25,234 $1.2M New
CRM Salesforce Inc. 0.92% 4,450 $1.2M Add +1.3%
LLY Eli Lilly & Co. 0.91% 1,538 $1.2M Reduce -0.1%
EFA iShares MSCI Eafe ETF 0.88% 12,970 $1.2M Reduce -2.9%
TLN Talen Energy Corp. 0.87% 3,961 $1.2M New
ANET Arista Networks Inc. 0.87% 11,252 $1.2M No change
JPM JPMorgan Chase & Co. 0.86% 3,922 $1.1M Reduce -4.4%
USFR Wisdomtree Floating Rate Tre 0.85% 22,459 $1.1M New
BAC Bank of America Corp. filed as BANK AMERICA CORP 0.83% 23,307 $1.1M No change
TIP iShares Tips Bond ETF 0.83% 9,961 $1.1M Reduce -2.1%
PFF iShares Preferred & Income S 0.81% 34,791 $1.1M Reduce -3.0%
ISRG Intuitive Surgical Inc. 0.80% 1,956 $1.1M No change
VB Vanguard Most SM-Cap ETF-Usd 0.77% 4,300 $1.0M New
VEA Vanguard Ftse Developed ETF 0.71% 16,485 $940K New
BLV Vanguard Long-Term Bond ETF 0.70% 13,385 $931K New
VXF Vanguard Extended Market ETF 0.66% 4,548 $876K New
ELV Elevance Health Inc. 0.66% 2,244 $873K Add +48.7%
SYK Stryker Corp. 0.64% 2,156 $853K New
HD Home Depot Inc. 0.63% 2,289 $839K Add +1.5%
VTI VG Morningstar TS MKT ETF-US 0.62% 2,708 $823K New
AMD Advanced Micro Devices 0.61% 5,674 $805K Reduce -13.2%
HON Honeywell International Inc. 0.61% 3,447 $803K Reduce -0.7%
FERG Ferguson Enterprises Inc. 0.60% 3,657 $796K Add +6.4%
TMO Thermo Fisher Scientific Inc. 0.60% 1,953 $792K New
MCD McDonald's Corp. 0.59% 2,687 $785K Reduce -1.1%
ACN Accenture PLC Class A 0.58% 2,552 $763K Add +0.5%
ICSH iShares Ultra Short Duration 0.56% 14,476 $734K Reduce -2.0%
SPDG SS SPDR P S&P Sec N D ETF 0.55% 18,737 $728K Reduce -2.6%
ADBE Adobe Inc. 0.55% 1,874 $725K No change
GLDM SPDR Gold Minishares Trust 0.55% 11,024 $722K New
TSM Taiwan Semiconductor-SP ADR 0.53% 3,118 $706K New
INTU Intuit Inc. 0.53% 896 $706K Add +7.7%
NFLX Netflix Inc. 0.53% 526 $704K New
MCK McKesson Corp. 0.53% 960 $703K No change
GEV GE Vernova Inc. 0.52% 1,305 $691K Add +33.3%
SPGI S&P Global Inc. 0.52% 1,299 $685K No change
VOT Vngrd Mrngstr MC GRW ETF-Usd 0.51% 2,367 $673K New
MLM Martin Marietta Materials 0.49% 1,183 $649K Add +19.6%
DE Deere & Co. 0.49% 1,271 $646K Add +1.8%
PANW Palo Alto Networks Inc. 0.49% 3,154 $645K Add +6.3%
GS Goldman Sachs Group Inc. 0.48% 905 $641K No change
FENY Fidelity MSCI Energy Index 0.47% 26,653 $625K Reduce -3.0%
XMHQ Invesco S&P Midcap Qual ETF 0.47% 6,299 $619K Add +5.8%
ZTS Zoetis Inc. 0.45% 3,857 $601K New
SCHW Schwab (charles) Corp. 0.45% 6,462 $590K Add +7.1%
VGT Vanguard Info Tech ETF 0.43% 864 $573K New
CVX Chevron Corp. 0.42% 3,877 $555K Reduce -18.8%
IEMG iShares Core MSCI Emerging 0.41% 8,992 $540K Add +1.0%
BMRC Bank of Marin Bancorp filed as BANK MARIN BANCORP 0.39% 22,390 $511K Reduce -13.5%
XLE SS Energy Select Sector 0.39% 6,007 $509K New
XLU St Sr Utl SL SE SPDR ETF-Usd 0.38% 6,218 $508K New
TMUS T-Mobile US Inc. 0.38% 2,089 $498K New
XLB SS Materials Select Sector 0.37% 5,529 $486K Reduce -0.9%
DYNF Ishrs US E F R A ETF-Usd Inc. 0.37% 8,890 $484K Add +38.0%
SPSM SS SPDR P S&P 600 Small Cap 0.36% 11,326 $482K Reduce -0.6%
SHW The Sherwin-Williams Co. 0.36% 1,381 $474K New
VEEV Veeva Systems Inc. Class A 0.35% 1,630 $469K New
JIRE JPMorgan Int Res Enh Eqty 0.35% 6,583 $466K New
AVDE Avantis International Equity 0.35% 6,273 $464K New
VV Vngrd Mrgstr LRG-Cap ETF-Usd 0.35% 1,627 $464K New
MRK Merck & Co. Inc. 0.35% 5,856 $464K Reduce -24.5%
PGR Progressive Corp. 0.35% 1,732 $462K Add +8.4%
VWO Vanguard Ftse Emerging Marke 0.35% 9,299 $460K New
CSGP Costar Group Inc. 0.35% 5,684 $457K Add +7.0%
IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS 0.34% 1,548 $456K Add +5.4%
ADI Analog Devices Inc. 0.33% 1,850 $440K Reduce -17.8%
HELO JPMorgan Hedged Equity ETF 0.32% 6,804 $426K Add +31.8%
GTLB Gitlab Inc. Class A 0.32% 9,249 $417K Add +45.3%
VOE Vngrd Mrngstr MD-Cap Val ETF 0.31% 2,511 $413K New
SPHQ Invesco S&P 500 Quality ETF 0.31% 5,793 $413K No change
APD Air Products & Chemicals Inc. 0.31% 1,435 $405K Add +2.4%
VNQ Vanguard Real Estate ETF 0.30% 4,432 $395K New
SRLN SS Blackstone Sr Loan ETF 0.29% 9,242 $384K Reduce -3.2%
QCOM Qualcomm Inc. 0.29% 2,400 $382K Reduce -11.9%
XOM Exxon Mobil Corp. 0.29% 3,523 $380K No change
IUSV iShares Core S&P U.S. Value 0.27% 3,820 $361K No change
ITW Illinois Tool Works 0.27% 1,452 $359K Add +4.4%
MS Morgan Stanley 0.27% 2,548 $359K No change
NKE Nike Inc. Class B 0.26% 4,920 $350K Add +31.1%
ETN Eaton Corp. PLC 0.26% 950 $339K Add +10.1%
TT Trane Technologies PLC 0.25% 767 $335K No change
VCR Vanguard Consumer Discre ETF 0.25% 899 $326K New
EXPE Expedia Group Inc. 0.24% 1,920 $324K Reduce -9.1%
GOOG Alphabet Inc. Class C 0.23% 1,740 $309K No change
FICO Fair Isaac Corp. 0.23% 165 $302K New
ABBV Abbvie Inc. 0.22% 1,595 $296K No change
MAR Marriott International Class A 0.22% 1,059 $289K No change
DIS The Walt Disney Co. filed as DISNEY WALT CO 0.20% 2,162 $268K No change
COF Capital One Financial Corp. 0.19% 1,166 $248K New
THC Tenet Healthcare Corp. 0.18% 1,380 $243K New
ECL Ecolab Inc. 0.18% 898 $242K Reduce -1.3%
AVGO Broadcom Inc. 0.18% 875 $241K New
ABT Abbott Laboratories 0.18% 1,771 $241K Reduce -1.3%
VIS Vanguard Industrials ETF 0.18% 833 $233K New
JNJ Johnson & Johnson 0.18% 1,524 $233K Reduce -20.8%
WMT Walmart Inc. 0.16% 2,181 $213K New
MRSH Marsh & McLennan Cos 0.16% 956 $209K Add +13.7%
NEE Nextera Energy Inc. 0.15% 2,907 $202K Reduce -29.2%
Other holdings (1): bonds, preferreds, convertibles and warrants · $304K (not counted above)
SecurityClassShares / PrincipalValueChange
WELLS FARGO & COMPANY (WFC 7.5 PERP L) PERP PFD CNV A 259$304KNew

Total filed on the 13F, all lines: $132.6M.

Portfolio Sells Q1 2025 → Q2 2025
AAPL Apple Inc. Reduce -1.1% 4.27% −3.60
XLV SS Health Care Select Sector Reduce -0.5% 2.04% −1.70
SCHO Schwab Short-Term US Treas Reduce -5.2% 1.50% −1.16
QQQ Invesco QQQ Trust Series 1 Reduce -3.8% 2.05% −1.01
GOVT iShares US Treasury Bond ETF Reduce -0.5% 1.11% −0.77
LLY Eli Lilly & Co. Reduce -0.1% 0.91% −0.71
TIP iShares Tips Bond ETF Reduce -2.1% 0.83% −0.61
CVX Chevron Corp. Reduce -18.8% 0.42% −0.60
PFF iShares Preferred & Income S Reduce -3.0% 0.81% −0.60
MRK Merck & Co. Inc. Reduce -24.5% 0.35% −0.54
EFA iShares MSCI Eafe ETF Reduce -2.9% 0.88% −0.51
MCD McDonald's Corp. Reduce -1.1% 0.59% −0.49
ELF Elf Beauty Inc. Sold out 0.00% −0.48
BLDR Builders Firstsource Inc. Sold out 0.00% −0.47
JPM JPMorgan Chase & Co. Reduce -4.4% 0.86% −0.42
FENY Fidelity MSCI Energy Index Reduce -3.0% 0.47% −0.42
ENTG Entegris Inc. Sold out 0.00% −0.42
IQLT iShares MSCI International Q Sold out 0.00% −0.40
ICSH iShares Ultra Short Duration Reduce -2.0% 0.56% −0.40
SPDG SS SPDR P S&P Sec N D ETF Reduce -2.6% 0.55% −0.38
IQV Iqvia Holdings Inc. Sold out 0.00% −0.37
BMRC Bank of Marin Bancorp Reduce -13.5% 0.39% −0.34
KNO Axs Knowledge Leaders ETF Sold out 0.00% −0.33
HON Honeywell International Inc. Reduce -0.7% 0.61% −0.33
PG The Procter & Gamble Co. Sold out 0.00% −0.31
JEF Jefferies Financial Group Inc. Sold out 0.00% −0.29
DUK Duke Energy Corp. Sold out 0.00% −0.28
PFE Pfizer Inc. Sold out 0.00% −0.26
AMD Advanced Micro Devices Reduce -13.2% 0.61% −0.25
ADI Analog Devices Inc. Reduce -17.8% 0.33% −0.25
QCOM Qualcomm Inc. Reduce -11.9% 0.29% −0.24
XLB SS Materials Select Sector Reduce -0.9% 0.37% −0.24
JNJ Johnson & Johnson Reduce -20.8% 0.18% −0.23
SPSM SS SPDR P S&P 600 Small Cap Reduce -0.6% 0.36% −0.23
NEE Nextera Energy Inc. Reduce -29.2% 0.15% −0.22
SRLN SS Blackstone Sr Loan ETF Reduce -3.2% 0.29% −0.21
EXPE Expedia Group Inc. Reduce -9.1% 0.24% −0.21
ABT Abbott Laboratories Reduce -1.3% 0.18% −0.12
ECL Ecolab Inc. Reduce -1.3% 0.18% −0.11

Portfolio Buys Q1 2025 → Q2 2025
XLK SS Technology Select Sector New 4.17% +4.17
VOO Vanguard S&P 500 ETF New 2.62% +2.62
VO Vngrd Mrngstr MD-Cap ETF-Usd New 2.45% +2.45
XLY SS Consumer Disc Select Sect New 2.31% +2.31
VOX Vanguard Communication Servi New 1.90% +1.90
XLC SS Comm Select Sector SPDR New 1.66% +1.66
XLF SS Financial Select Sector New 1.41% +1.41
XLI SS Industrial Select Sector New 1.33% +1.33
VFH Vanguard Financials ETF New 1.30% +1.30
XLP SS Consumer Staples Sel Sect New 1.19% +1.19
V Visa Inc. Class A New 1.18% +1.18
BNDX Vanguard Total Intl Bond ETF New 0.94% +0.94
TLN Talen Energy Corp. New 0.87% +0.87
USFR Wisdomtree Floating Rate Tre New 0.85% +0.85
VB Vanguard Most SM-Cap ETF-Usd New 0.77% +0.77
VEA Vanguard Ftse Developed ETF New 0.71% +0.71
BLV Vanguard Long-Term Bond ETF New 0.70% +0.70
VXF Vanguard Extended Market ETF New 0.66% +0.66
SYK Stryker Corp. New 0.64% +0.64
VTI VG Morningstar TS MKT ETF-US New 0.62% +0.62
TMO Thermo Fisher Scientific Inc. New 0.60% +0.60
GLDM SPDR Gold Minishares Trust New 0.55% +0.55
TSM Taiwan Semiconductor-SP ADR New 0.53% +0.53
NFLX Netflix Inc. New 0.53% +0.53
VOT Vngrd Mrngstr MC GRW ETF-Usd New 0.51% +0.51
ZTS Zoetis Inc. New 0.45% +0.45
VGT Vanguard Info Tech ETF New 0.43% +0.43
XLE SS Energy Select Sector New 0.39% +0.39
XLU St Sr Utl SL SE SPDR ETF-Usd New 0.38% +0.38
TMUS T-Mobile US Inc. New 0.38% +0.38
SHW The Sherwin-Williams Co. New 0.36% +0.36
VEEV Veeva Systems Inc. Class A New 0.35% +0.35
JIRE JPMorgan Int Res Enh Eqty New 0.35% +0.35
AVDE Avantis International Equity New 0.35% +0.35
VV Vngrd Mrgstr LRG-Cap ETF-Usd New 0.35% +0.35
VWO Vanguard Ftse Emerging Marke New 0.35% +0.35
VOE Vngrd Mrngstr MD-Cap Val ETF New 0.31% +0.31
VNQ Vanguard Real Estate ETF New 0.30% +0.30
VCR Vanguard Consumer Discre ETF New 0.25% +0.25
FICO Fair Isaac Corp. New 0.23% +0.23
COF Capital One Financial Corp. New 0.19% +0.19
THC Tenet Healthcare Corp. New 0.18% +0.18
AVGO Broadcom Inc. New 0.18% +0.18
VIS Vanguard Industrials ETF New 0.18% +0.18
WMT Walmart Inc. New 0.16% +0.16
GEV GE Vernova Inc. Add +33.3% 0.52% +0.14
DYNF Ishrs US E F R A ETF-Usd Inc. Add +38.0% 0.37% −0.03
NKE Nike Inc. Class B Add +31.1% 0.26% −0.04
ETN Eaton Corp. PLC Add +10.1% 0.26% −0.04
GTLB Gitlab Inc. Class A Add +45.3% 0.32% −0.07

Notes & Other Activity Q1 2025 → Q2 2025
WELLS FARGO & COMPANY (WFC 7.5 PERP L) PERP PFD CNV A New 259 $304K

Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 132$143.2MXLK, MSFT, GOOGL, AAPL, NVDA
Q1 2026 134$136.8MAAPL, MSFT, XLK, GOOGL, NVDA
Q4 2025 129$144.6MMSFT, AAPL, XLK, GOOGL, NVDA
Q3 2025 129$141.5MMSFT, AAPL, XLK, NVDA, AMZN
Q2 2025 125$132.3MMSFT, AAPL, XLK, NVDA, AMZN
Q1 2025 90$78.5MMSFT, AAPL, AMZN, XLV, NVDA
Q4 2024 124$126.1MMSFT, AAPL, XLK, AMZN, NVDA
Q3 2024 124$123.9MMSFT, AAPL, XLK, VOO, XLV
Q2 2024 119$116.0MMSFT, AAPL, XLK, XLV, NVDA
Q1 2024 114$113.6MMSFT, AAPL, XLK, VOO, XLV