Bank of Marin

In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 5, 2025), Bank of Marin reported 129 stock positions worth $141.5 million. Its top holding was Microsoft (MSFT) at 6.4% of the portfolio, followed by Apple (AAPL, 5.0%) and SS Technology Select Sector (XLK, 4.4%). Compared with Q2 2025, it opened 8 new positions, sold out of 4, added to 43 and reduced 52. The biggest buy was Apple (AAPL, shares +1%) and the biggest sale an exit from T-Mobile US (TMUS).

Most Recent 13F
Q2 2026
Location
Novato, CA
CIK
0001801145
Portfolio Value
$141.5M (Q3 2025)
SEC Filing
0001628280-25-049072 ↗ filed Nov 5, 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 Q2 2025 Q3 2025: $141.5M $141.5M Q3 2025 Q4 2025: $144.6M Q4 2025 Q1 2026: $136.8M Q1 2026 Q2 2026: $143.2M Q2 2026

Holdings 129 stocks · $141.5M
MSFT Microsoft Corp. 6.44% 17,582 $9.1M Reduce -0.9%
AAPL Apple Inc. 5.00% 27,751 $7.1M Add +0.8%
XLK SS Technology Select Sector 4.38% 21,977 $6.2M Add +0.9%
NVDA Nvidia Corp. 3.45% 26,185 $4.9M Add +1.2%
AMZN Amazon.com Inc. 2.61% 16,799 $3.7M Reduce -0.1%
VOO Vanguard S&P 500 ETF 2.53% 5,852 $3.6M Reduce -4.0%
VO Vngrd Mrngstr MD-Cap ETF-Usd 2.41% 11,595 $3.4M No change
XLY SS Consumer Disc Select Sect 2.32% 13,705 $3.3M Reduce -2.6%
GOOGL Alphabet Inc. Class A 2.29% 13,337 $3.2M Reduce -0.2%
QQQ Invesco QQQ Trust Series 1 2.04% 4,805 $2.9M Reduce -2.5%
VOX Vanguard Communication Servi 1.94% 14,606 $2.7M Reduce -0.3%
XLV SS Health Care Select Sector 1.94% 19,670 $2.7M Reduce -2.0%
COST Costco Wholesale Corp. 1.86% 2,850 $2.6M Add +0.5%
XLC SS Comm Select Sector SPDR 1.63% 19,520 $2.3M Reduce -3.5%
SCHO Schwab Short-Term US Treas 1.39% 80,663 $2.0M Reduce -1.1%
SPY SS SPDR S&P 500 ETF Trust-US 1.38% 2,933 $2.0M Reduce -0.6%
VFH Vanguard Financials ETF 1.24% 13,380 $1.8M Reduce -0.8%
XLF SS Financial Select Sector 1.24% 32,590 $1.8M Reduce -8.3%
XLI SS Industrial Select Sector 1.24% 11,368 $1.8M Reduce -4.6%
ANET Arista Networks Inc. 1.21% 11,761 $1.7M Add +4.5%
BRK.B Berkshire Hathaway Inc. Class B 1.10% 3,107 $1.6M No change
IVV iShares Core S&P 500 ETF 1.09% 2,302 $1.5M No change
V Visa Inc. Class A 1.08% 4,493 $1.5M Add +2.3%
TLN Talen Energy Corp. 1.08% 3,599 $1.5M Reduce -9.1%
DHR Danaher Corp. 1.05% 7,524 $1.5M Add +8.9%
GOVT iShares US Treasury Bond ETF 1.05% 63,984 $1.5M No change
XLP SS Consumer Staples Sel Sect 1.03% 18,649 $1.5M Reduce -4.5%
JPM JPMorgan Chase & Co. 0.91% 4,103 $1.3M Add +4.6%
META Meta Platforms Inc. Class A 0.91% 1,748 $1.3M Reduce -4.2%
BAC Bank of America Corp. filed as BANK AMERICA CORP 0.90% 24,718 $1.3M Add +6.0%
BNDX Vanguard Total Intl Bond ETF 0.88% 25,057 $1.2M Reduce -0.7%
BSX Boston Scientific Corp. 0.86% 12,515 $1.2M Add +5.5%
LLY Eli Lilly & Co. 0.85% 1,573 $1.2M Add +2.3%
VEA Vanguard Ftse Developed ETF 0.83% 19,620 $1.2M Add +19.0%
EFA iShares MSCI Eafe ETF 0.82% 12,352 $1.2M Reduce -4.8%
VB Vanguard Most SM-Cap ETF-Usd 0.77% 4,300 $1.1M No change
TIP iShares Tips Bond ETF 0.77% 9,799 $1.1M Reduce -1.6%
CRM Salesforce Inc. 0.77% 4,586 $1.1M Add +3.1%
PFF iShares Preferred & Income S 0.76% 34,205 $1.1M Reduce -1.7%
USFR Wisdomtree Floating Rate Tre 0.72% 20,264 $1.0M Reduce -9.8%
TMO Thermo Fisher Scientific Inc. 0.67% 1,953 $947K No change
BLV Vanguard Long-Term Bond ETF 0.66% 13,236 $938K Reduce -1.1%
HD Home Depot Inc. 0.66% 2,311 $936K Add +1.0%
VXF Vanguard Extended Market ETF 0.66% 4,441 $930K Reduce -2.4%
GLDM SPDR Gold Minishares Trust 0.65% 12,080 $924K Add +9.6%
AMD Advanced Micro Devices 0.65% 5,652 $914K Reduce -0.4%
VTI VG Morningstar TS MKT ETF-US 0.63% 2,708 $889K No change
ISRG Intuitive Surgical Inc. 0.62% 1,956 $875K No change
TSM Taiwan Semiconductor-SP ADR 0.61% 3,098 $865K Reduce -0.6%
MCD McDonald's Corp. 0.58% 2,687 $817K No change
SYK Stryker Corp. 0.56% 2,156 $797K No change
MLM Martin Marietta Materials 0.52% 1,178 $742K Reduce -0.4%
MCK McKesson Corp. 0.52% 960 $742K No change
SPDG SS SPDR P S&P Sec N D ETF 0.52% 18,407 $740K Reduce -1.8%
XMHQ Invesco S&P Midcap Qual ETF 0.52% 6,967 $731K Add +10.6%
ICSH iShares Ultra Short Duration 0.51% 14,340 $728K Reduce -0.9%
FERG Ferguson Enterprises Inc. 0.51% 3,239 $727K Reduce -11.4%
HON Honeywell International Inc. 0.51% 3,447 $726K No change
DYNF Ishrs US E F R A ETF-Usd Inc. 0.51% 12,199 $722K Add +37.2%
GS Goldman Sachs Group Inc. 0.51% 905 $721K No change
VOT Vngrd Mrngstr MC GRW ETF-Usd 0.48% 2,295 $674K Reduce -3.0%
IEMG iShares Core MSCI Emerging 0.47% 10,079 $664K Add +12.1%
CVX Chevron Corp. 0.46% 4,233 $657K Add +9.2%
ADBE Adobe Inc. 0.46% 1,853 $654K Reduce -1.1%
FENY Fidelity MSCI Energy Index 0.46% 26,249 $649K Reduce -1.5%
VGT Vanguard Info Tech ETF 0.46% 864 $645K No change
SCHW Schwab (charles) Corp. 0.45% 6,711 $641K Add +3.9%
PANW Palo Alto Networks Inc. 0.45% 3,131 $638K Reduce -0.7%
NFLX Netflix Inc. 0.45% 529 $634K Add +0.6%
SPGI S&P Global Inc. 0.45% 1,299 $632K No change
INTU Intuit Inc. 0.45% 923 $630K Add +3.0%
CGMU Cap Group Municipal Income 0.43% 22,251 $607K New
DE Deere & Co. 0.42% 1,299 $594K Add +2.2%
GEV GE Vernova Inc. 0.42% 961 $591K Reduce -26.4%
AVDE Avantis International Equity 0.42% 7,484 $590K Add +19.3%
JIRE JPMorgan Int Res Enh Eqty 0.41% 7,851 $577K Add +19.3%
ATI Ati Inc. 0.40% 6,872 $559K New
BMRC Bank of Marin Bancorp filed as BANK MARIN BANCORP 0.38% 22,390 $544K No change
ZTS Zoetis Inc. 0.38% 3,657 $535K Reduce -5.2%
XLE SS Energy Select Sector 0.37% 5,937 $530K Reduce -1.2%
SPSM SS SPDR P S&P 600 Small Cap 0.37% 11,227 $520K Reduce -0.9%
VV Vngrd Mrgstr LRG-Cap ETF-Usd 0.35% 1,627 $501K No change
CSGP Costar Group Inc. 0.35% 5,925 $500K Add +4.2%
ACN Accenture PLC Class A 0.35% 2,024 $499K Reduce -20.7%
HELO JPMorgan Hedged Equity ETF 0.35% 7,632 $496K Add +12.2%
XLU St Sr Utl SL SE SPDR ETF-Usd 0.35% 5,662 $494K Reduce -8.9%
VEEV Veeva Systems Inc. Class A 0.35% 1,641 $489K Add +0.7%
XLB SS Materials Select Sector 0.34% 5,343 $479K Reduce -3.4%
VWO Vanguard Ftse Emerging Marke 0.34% 8,776 $475K Reduce -5.6%
ELV Elevance Health Inc. 0.33% 1,461 $472K Reduce -34.9%
IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS 0.33% 1,661 $469K Add +7.3%
MRK Merck & Co. Inc. 0.33% 5,522 $463K Reduce -5.7%
FICO Fair Isaac Corp. 0.32% 305 $456K Add +84.8%
ADI Analog Devices Inc. 0.32% 1,850 $455K No change
ETN Eaton Corp. PLC 0.32% 1,202 $450K Add +26.5%
ABBV Abbvie Inc. 0.31% 1,923 $445K Add +20.6%
VOE Vngrd Mrngstr MD-Cap Val ETF 0.30% 2,457 $429K Reduce -2.1%
GOOG Alphabet Inc. Class C 0.30% 1,740 $424K No change
EXPE Expedia Group Inc. 0.29% 1,951 $417K Add +1.6%
APD Air Products & Chemicals Inc. 0.29% 1,486 $405K Add +3.5%
MS Morgan Stanley 0.29% 2,548 $405K No change
QCOM Qualcomm Inc. 0.28% 2,400 $399K No change
XOM Exxon Mobil Corp. 0.28% 3,523 $397K No change
ITW Illinois Tool Works 0.28% 1,499 $391K Add +3.2%
SPHQ Invesco S&P 500 Quality ETF 0.27% 5,306 $389K Reduce -8.4%
IUSV iShares Core S&P U.S. Value 0.27% 3,820 $382K No change
SRLN SS Blackstone Sr Loan ETF 0.27% 9,171 $381K Reduce -0.8%
VNQ Vanguard Real Estate ETF 0.27% 4,140 $378K Reduce -6.6%
VCR Vanguard Consumer Discre ETF 0.25% 899 $356K No change
NKE Nike Inc. Class B 0.25% 5,021 $350K Add +2.0%
AVGO Broadcom Inc. 0.24% 1,050 $346K Add +20.0%
SPSC SPS Commerce Inc. 0.24% 3,243 $338K New
TT Trane Technologies PLC 0.23% 767 $324K No change
BLDR Builders Firstsource Inc. 0.23% 2,661 $323K New
MKL Markel Group Inc. 0.23% 168 $321K New
PGR Progressive Corp. 0.20% 1,168 $288K Reduce -32.6%
THC Tenet Healthcare Corp. 0.20% 1,395 $283K Add +1.1%
ELF Elf Beauty Inc. 0.20% 2,133 $283K New
ABT Abbott Laboratories 0.20% 2,071 $277K Add +16.9%
COF Capital One Financial Corp. 0.19% 1,266 $269K Add +8.6%
MAR Marriott International Class A 0.19% 1,023 $266K Reduce -3.4%
VIS Vanguard Industrials ETF 0.17% 833 $247K No change
NEE Nextera Energy Inc. 0.17% 3,232 $244K Add +11.2%
ECL Ecolab Inc. 0.17% 874 $239K Reduce -2.7%
WMT Walmart Inc. 0.17% 2,285 $235K Add +4.8%
DIS The Walt Disney Co. filed as DISNEY WALT CO 0.17% 2,045 $234K Reduce -5.4%
AVUV Avantis US Small Cap Value 0.16% 2,344 $233K New
MRSH Marsh & McLennan Cos 0.14% 1,008 $203K Add +5.4%
RTX RTX Corp. 0.14% 1,200 $201K New
Other holdings (1): bonds, preferreds, convertibles and warrants · $320K (not counted above)
SecurityClassShares / PrincipalValueChange
WELLS FARGO & COMPANY (WFC 7.5 PERP L) PERP PFD CNV A 259$320KNo change

Total filed on the 13F, all lines: $141.8M.

Portfolio Sells Q2 2025 → Q3 2025
TMUS T-Mobile US Inc. Sold out 0.00% −0.38
SHW The Sherwin-Williams Co. Sold out 0.00% −0.36
ELV Elevance Health Inc. Reduce -34.9% 0.33% −0.33
GTLB Gitlab Inc. Class A Sold out 0.00% −0.32
MSFT Microsoft Corp. Reduce -0.9% 6.44% −0.23
ACN Accenture PLC Class A Reduce -20.7% 0.35% −0.22
AMZN Amazon.com Inc. Reduce -0.1% 2.61% −0.18
JNJ Johnson & Johnson Sold out 0.00% −0.18
XLF SS Financial Select Sector Reduce -8.3% 1.24% −0.17
XLP SS Consumer Staples Sel Sect Reduce -4.5% 1.03% −0.16
PGR Progressive Corp. Reduce -32.6% 0.20% −0.15
USFR Wisdomtree Floating Rate Tre Reduce -9.8% 0.72% −0.13
SCHO Schwab Short-Term US Treas Reduce -1.1% 1.39% −0.11
META Meta Platforms Inc. Class A Reduce -4.2% 0.91% −0.11
XLV SS Health Care Select Sector Reduce -2.0% 1.94% −0.11
GEV GE Vernova Inc. Reduce -26.4% 0.42% −0.10
XLI SS Industrial Select Sector Reduce -4.6% 1.24% −0.09
FERG Ferguson Enterprises Inc. Reduce -11.4% 0.51% −0.09
ADBE Adobe Inc. Reduce -1.1% 0.46% −0.09
VOO Vanguard S&P 500 ETF Reduce -4.0% 2.53% −0.08
ZTS Zoetis Inc. Reduce -5.2% 0.38% −0.08
BNDX Vanguard Total Intl Bond ETF Reduce -0.7% 0.88% −0.07
EFA iShares MSCI Eafe ETF Reduce -4.8% 0.82% −0.06
TIP iShares Tips Bond ETF Reduce -1.6% 0.77% −0.06
VFH Vanguard Financials ETF Reduce -0.8% 1.24% −0.06
PFF iShares Preferred & Income S Reduce -1.7% 0.76% −0.04
BLV Vanguard Long-Term Bond ETF Reduce -1.1% 0.66% −0.04
ICSH iShares Ultra Short Duration Reduce -0.9% 0.51% −0.04
PANW Palo Alto Networks Inc. Reduce -0.7% 0.45% −0.04
DIS The Walt Disney Co. Reduce -5.4% 0.17% −0.04
SPHQ Invesco S&P 500 Quality ETF Reduce -8.4% 0.27% −0.04
XLU St Sr Utl SL SE SPDR ETF-Usd Reduce -8.9% 0.35% −0.03
VOT Vngrd Mrngstr MC GRW ETF-Usd Reduce -3.0% 0.48% −0.03
VNQ Vanguard Real Estate ETF Reduce -6.6% 0.27% −0.03
MAR Marriott International Class A Reduce -3.4% 0.19% −0.03
XLB SS Materials Select Sector Reduce -3.4% 0.34% −0.03
SPDG SS SPDR P S&P Sec N D ETF Reduce -1.8% 0.52% −0.03
XLC SS Comm Select Sector SPDR Reduce -3.5% 1.63% −0.03
MRK Merck & Co. Inc. Reduce -5.7% 0.33% −0.02
SRLN SS Blackstone Sr Loan ETF Reduce -0.8% 0.27% −0.02
QQQ Invesco QQQ Trust Series 1 Reduce -2.5% 2.04% −0.02
FENY Fidelity MSCI Energy Index Reduce -1.5% 0.46% −0.01
ECL Ecolab Inc. Reduce -2.7% 0.17% −0.01
VWO Vanguard Ftse Emerging Marke Reduce -5.6% 0.34% −0.01
XLE SS Energy Select Sector Reduce -1.2% 0.37% −0.01
VOE Vngrd Mrngstr MD-Cap Val ETF Reduce -2.1% 0.30% −0.01
VXF Vanguard Extended Market ETF Reduce -2.4% 0.66% −0.01
SPY SS SPDR S&P 500 ETF Trust-US Reduce -0.6% 1.38% +0.00
SPSM SS SPDR P S&P 600 Small Cap Reduce -0.9% 0.37% +0.00
XLY SS Consumer Disc Select Sect Reduce -2.6% 2.32% +0.01

Portfolio Buys Q2 2025 → Q3 2025
AAPL Apple Inc. Add +0.8% 5.00% +0.72
CGMU Cap Group Municipal Income New 0.43% +0.43
ATI Ati Inc. New 0.40% +0.40
NVDA Nvidia Corp. Add +1.2% 3.45% +0.36
ANET Arista Networks Inc. Add +4.5% 1.21% +0.34
SPSC SPS Commerce Inc. New 0.24% +0.24
BLDR Builders Firstsource Inc. New 0.23% +0.23
MKL Markel Group Inc. New 0.23% +0.23
XLK SS Technology Select Sector Add +0.9% 4.38% +0.21
ELF Elf Beauty Inc. New 0.20% +0.20
AVUV Avantis US Small Cap Value New 0.16% +0.16
DYNF Ishrs US E F R A ETF-Usd Inc. Add +37.2% 0.51% +0.14
RTX RTX Corp. New 0.14% +0.14
VEA Vanguard Ftse Developed ETF Add +19.0% 0.83% +0.12
GLDM SPDR Gold Minishares Trust Add +9.6% 0.65% +0.11
FICO Fair Isaac Corp. Add +84.8% 0.32% +0.09
ABBV Abbvie Inc. Add +20.6% 0.31% +0.09
BAC Bank of America Corp. Add +6.0% 0.90% +0.07
AVDE Avantis International Equity Add +19.3% 0.42% +0.07
AVGO Broadcom Inc. Add +20.0% 0.24% +0.06
IEMG iShares Core MSCI Emerging Add +12.1% 0.47% +0.06
ETN Eaton Corp. PLC Add +26.5% 0.32% +0.06
JIRE JPMorgan Int Res Enh Eqty Add +19.3% 0.41% +0.06
JPM JPMorgan Chase & Co. Add +4.6% 0.91% +0.06
EXPE Expedia Group Inc. Add +1.6% 0.29% +0.05
XMHQ Invesco S&P Midcap Qual ETF Add +10.6% 0.52% +0.05
CVX Chevron Corp. Add +9.2% 0.46% +0.04
HELO JPMorgan Hedged Equity ETF Add +12.2% 0.35% +0.03
HD Home Depot Inc. Add +1.0% 0.66% +0.03
DHR Danaher Corp. Add +8.9% 1.05% +0.02
NEE Nextera Energy Inc. Add +11.2% 0.17% +0.02
THC Tenet Healthcare Corp. Add +1.1% 0.20% +0.02
ABT Abbott Laboratories Add +16.9% 0.20% +0.01
CSGP Costar Group Inc. Add +4.2% 0.35% +0.01
SCHW Schwab (charles) Corp. Add +3.9% 0.45% +0.01
WMT Walmart Inc. Add +4.8% 0.17% +0.01
ITW Illinois Tool Works Add +3.2% 0.28% +0.00
COF Capital One Financial Corp. Add +8.6% 0.19% +0.00
VEEV Veeva Systems Inc. Class A Add +0.7% 0.35% −0.01
IBM Intl Business Machines Corp. Add +7.3% 0.33% −0.01
MRSH Marsh & McLennan Cos Add +5.4% 0.14% −0.01
NKE Nike Inc. Class B Add +2.0% 0.25% −0.02
APD Air Products & Chemicals Inc. Add +3.5% 0.29% −0.02
LLY Eli Lilly & Co. Add +2.3% 0.85% −0.06
DE Deere & Co. Add +2.2% 0.42% −0.07
NFLX Netflix Inc. Add +0.6% 0.45% −0.08
INTU Intuit Inc. Add +3.0% 0.45% −0.09
V Visa Inc. Class A Add +2.3% 1.08% −0.09
BSX Boston Scientific Corp. Add +5.5% 0.86% −0.10
CRM Salesforce Inc. Add +3.1% 0.77% −0.15

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