Bank of Marin

In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 17, 2026), Bank of Marin reported 129 stock positions worth $144.6 million. Its top holding was Microsoft (MSFT) at 5.8% of the portfolio, followed by Apple (AAPL, 5.2%) and SS Technology Select Sector (XLK, 4.3%). Compared with Q3 2025, it opened 5 new positions, sold out of 5, added to 15 and reduced 66. The biggest buy was Bank of Marin Bancorp (BMRC, shares +365%) and the biggest sale Microsoft (MSFT, shares −1%).

Most Recent 13F
Q2 2026
Location
Novato, CA
CIK
0001801145
Portfolio Value
$144.6M (Q4 2025)
SEC Filing
0001628280-26-008268 ↗ filed Feb 17, 2026

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 Q3 2025 Q4 2025: $144.6M $144.6M Q4 2025 Q1 2026: $136.8M Q1 2026 Q2 2026: $143.2M Q2 2026

Holdings 129 stocks · $144.6M
MSFT Microsoft Corp. 5.80% 17,336 $8.4M Reduce -1.4%
AAPL Apple Inc. 5.17% 27,469 $7.5M Reduce -1.0%
XLK SS Technology Select Sector 4.25% 42,702 $6.1M Reduce -2.9%
GOOGL Alphabet Inc. Class A 2.94% 13,567 $4.2M Add +1.7%
NVDA Nvidia Corp. 2.85% 22,091 $4.1M Reduce -15.6%
AMZN Amazon.com Inc. 2.56% 16,016 $3.7M Reduce -4.7%
VOO Vanguard S&P 500 ETF 2.48% 5,716 $3.6M Reduce -2.3%
VO Vngrd Mrngstr MD-Cap ETF-Usd 2.33% 11,595 $3.4M No change
XLY SS Consumer Disc Select Sect 2.22% 26,890 $3.2M Reduce -1.9%
XLV SS Health Care Select Sector 2.09% 19,480 $3.0M Reduce -1.0%
QQQ Invesco QQQ Trust Series 1 2.02% 4,755 $2.9M Reduce -1.0%
VOX Vanguard Communication Servi 1.96% 14,606 $2.8M No change
BMRC Bank of Marin Bancorp filed as BANK MARIN BANCORP 1.87% 104,046 $2.7M Add +364.7%
COST Costco Wholesale Corp. 1.70% 2,850 $2.5M No change
XLC SS Comm Select Sector SPDR 1.52% 18,633 $2.2M Reduce -4.5%
SCHO Schwab Short-Term US Treas 1.37% 81,095 $2.0M Add +0.5%
SPY SS SPDR S&P 500 ETF Trust-US 1.36% 2,883 $2.0M Reduce -1.7%
VFH Vanguard Financials ETF 1.22% 13,173 $1.8M Reduce -1.6%
XLF SS Financial Select Sector 1.21% 31,986 $1.8M Reduce -1.9%
XLI SS Industrial Select Sector 1.21% 11,279 $1.7M Reduce -0.8%
LLY Eli Lilly & Co. 1.15% 1,553 $1.7M Reduce -1.3%
DHR Danaher Corp. 1.15% 7,263 $1.7M Reduce -3.5%
V Visa Inc. Class A 1.09% 4,492 $1.6M Reduce -0.0%
BRK.B Berkshire Hathaway Inc. Class B 1.08% 3,107 $1.6M No change
IVV iShares Core S&P 500 ETF 1.07% 2,265 $1.6M Reduce -1.6%
ANET Arista Networks Inc. 1.02% 11,251 $1.5M Reduce -4.3%
GOVT iShares US Treasury Bond ETF 1.02% 63,984 $1.5M No change
XLP SS Consumer Staples Sel Sect 0.99% 18,465 $1.4M Reduce -1.0%
BAC Bank of America Corp. filed as BANK AMERICA CORP 0.92% 24,263 $1.3M Reduce -1.8%
JPM JPMorgan Chase & Co. 0.91% 4,101 $1.3M Reduce -0.1%
TLN Talen Energy Corp. 0.87% 3,340 $1.3M Reduce -7.2%
VEA Vanguard Ftse Developed ETF 0.85% 19,620 $1.2M No change
BNDX Vanguard Total Intl Bond ETF 0.84% 25,130 $1.2M Add +0.3%
AMD Advanced Micro Devices 0.84% 5,652 $1.2M No change
CRM Salesforce Inc. 0.83% 4,516 $1.2M Reduce -1.5%
BSX Boston Scientific Corp. 0.83% 12,510 $1.2M Reduce -0.0%
EFA iShares MSCI Eafe ETF 0.81% 12,122 $1.2M Reduce -1.9%
META Meta Platforms Inc. Class A 0.79% 1,728 $1.1M Reduce -1.1%
TMO Thermo Fisher Scientific Inc. 0.78% 1,952 $1.1M Reduce -0.1%
PFF iShares Preferred & Income S 0.78% 36,377 $1.1M Add +6.3%
VB Vanguard Most SM-Cap ETF-Usd 0.77% 4,300 $1.1M No change
ISRG Intuitive Surgical Inc. 0.75% 1,926 $1.1M Reduce -1.5%
TIP iShares Tips Bond ETF 0.74% 9,742 $1.1M Reduce -0.6%
GLDM SPDR Gold Minishares Trust 0.71% 12,080 $1.0M No change
USFR Wisdomtree Floating Rate Tre 0.70% 20,203 $1.0M Reduce -0.3%
VXF Vanguard Extended Market ETF 0.63% 4,375 $915K Reduce -1.5%
BLV Vanguard Long-Term Bond ETF 0.63% 13,122 $912K Reduce -0.9%
VTI VG Morningstar TS MKT ETF-US 0.63% 2,697 $904K Reduce -0.4%
TSM Taiwan Semiconductor-SP ADR 0.61% 2,882 $876K Reduce -7.0%
ATI Ati Inc. 0.59% 7,423 $852K Add +8.0%
MCD McDonald's Corp. 0.57% 2,687 $821K No change
SYK Stryker Corp. 0.55% 2,281 $802K Add +5.8%
GS Goldman Sachs Group Inc. 0.55% 905 $795K No change
HD Home Depot Inc. 0.55% 2,310 $795K Reduce -0.0%
MCK McKesson Corp. 0.54% 960 $787K No change
DYNF Ishrs US E F R A ETF-Usd Inc. 0.53% 12,647 $769K Add +3.7%
SPDG SS SPDR P S&P Sec N D ETF 0.51% 18,211 $743K Reduce -1.1%
ICSH iShares Ultra Short Duration 0.50% 14,295 $723K Reduce -0.3%
IEMG iShares Core MSCI Emerging 0.50% 10,695 $719K Add +6.1%
XMHQ Invesco S&P Midcap Qual ETF 0.49% 6,967 $714K No change
CGMU Cap Group Municipal Income 0.49% 25,925 $710K Add +16.5%
MLM Martin Marietta Materials 0.48% 1,114 $694K Reduce -5.4%
SPGI S&P Global Inc. 0.47% 1,299 $679K No change
FERG Ferguson Enterprises Inc. 0.47% 3,049 $679K Reduce -5.9%
HON Honeywell International Inc. 0.46% 3,443 $672K Reduce -0.1%
VGT Vanguard Info Tech ETF 0.45% 864 $651K No change
FENY Fidelity MSCI Energy Index 0.45% 26,261 $650K Add +0.1%
ADBE Adobe Inc. 0.44% 1,830 $640K Reduce -1.2%
SCHW Schwab (charles) Corp. 0.44% 6,325 $632K Reduce -5.8%
VOT Vngrd Mrngstr MC GRW ETF-Usd 0.44% 2,257 $630K Reduce -1.7%
CVX Chevron Corp. 0.43% 4,117 $627K Reduce -2.7%
AVDE Avantis International Equity 0.43% 7,484 $616K No change
DE Deere & Co. 0.42% 1,299 $605K No change
GEV GE Vernova Inc. 0.42% 920 $601K Reduce -4.3%
FICO Fair Isaac Corp. 0.41% 348 $588K Add +14.1%
JIRE JPMorgan Int Res Enh Eqty 0.41% 7,851 $588K No change
MRK Merck & Co. Inc. 0.40% 5,522 $581K No change
INTU Intuit Inc. 0.39% 856 $567K Reduce -7.3%
PANW Palo Alto Networks Inc. 0.37% 2,939 $541K Reduce -6.1%
GOOG Alphabet Inc. Class C 0.37% 1,718 $539K Reduce -1.3%
XLE SS Energy Select Sector 0.36% 11,750 $525K Reduce -1.0%
SPSM SS SPDR P S&P 600 Small Cap 0.36% 11,060 $518K Reduce -1.5%
VV Vngrd Mrgstr LRG-Cap ETF-Usd 0.35% 1,627 $512K No change
ELV Elevance Health Inc. 0.35% 1,461 $512K No change
ARM Arm Holdings PLC-ADR 0.35% 4,685 $512K New
EXPE Expedia Group Inc. 0.35% 1,802 $511K Reduce -7.6%
HELO JPMorgan Hedged Equity ETF 0.35% 7,632 $507K No change
ADI Analog Devices Inc. 0.35% 1,850 $502K No change
CSGP Costar Group Inc. 0.34% 7,396 $497K Add +24.8%
IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS 0.34% 1,661 $492K No change
XLU St Sr Utl SL SE SPDR ETF-Usd 0.33% 11,124 $475K Reduce -1.8%
XLB SS Materials Select Sector 0.33% 10,408 $472K Reduce -2.6%
ACN Accenture PLC Class A 0.33% 1,755 $471K Reduce -13.3%
NFLX Netflix Inc. 0.32% 5,006 $469K Reduce -5.4%
VWO Vanguard Ftse Emerging Marke 0.32% 8,604 $463K Reduce -2.0%
ZTS Zoetis Inc. 0.32% 3,657 $460K No change
MS Morgan Stanley 0.31% 2,543 $451K Reduce -0.2%
ABBV Abbvie Inc. 0.30% 1,923 $439K No change
VOE Vngrd Mrngstr MD-Cap Val ETF 0.30% 2,439 $433K Reduce -0.7%
XOM Exxon Mobil Corp. 0.29% 3,523 $424K No change

Show all 129 holdings

Other holdings (1): bonds, preferreds, convertibles and warrants · $278K (not counted above)
SecurityClassShares / PrincipalValueChange
WELLS FARGO & COMPANY (WFC 7.5 PERP L) PERP PFD CNV A 229$278KReduce -11.6%

Total filed on the 13F, all lines: $144.8M.

Portfolio Sells Q3 2025 → Q4 2025
MSFT Microsoft Corp. Reduce -1.4% 5.80% −0.64
NVDA Nvidia Corp. Reduce -15.6% 2.85% −0.60
APD Air Products & Chemicals Inc. Sold out 0.00% −0.29
SPSC SPS Commerce Inc. Sold out 0.00% −0.24
BLDR Builders Firstsource Inc. Sold out 0.00% −0.23
MKL Markel Group Inc. Sold out 0.00% −0.23
TLN Talen Energy Corp. Reduce -7.2% 0.87% −0.22
ANET Arista Networks Inc. Reduce -4.3% 1.02% −0.19
MRSH Marsh & McLennan Cos Sold out 0.00% −0.14
XLK SS Technology Select Sector Reduce -2.9% 4.25% −0.13
NFLX Netflix Inc. Reduce -5.4% 0.32% −0.12
META Meta Platforms Inc. Class A Reduce -1.1% 0.79% −0.12
XLC SS Comm Select Sector SPDR Reduce -4.5% 1.52% −0.12
HD Home Depot Inc. Reduce -0.0% 0.55% −0.11
VEEV Veeva Systems Inc. Class A Reduce -7.4% 0.23% −0.11
XLY SS Consumer Disc Select Sect Reduce -1.9% 2.22% −0.10
PANW Palo Alto Networks Inc. Reduce -6.1% 0.37% −0.08
ETN Eaton Corp. PLC Reduce -5.8% 0.25% −0.07
VOO Vanguard S&P 500 ETF Reduce -2.3% 2.48% −0.05
INTU Intuit Inc. Reduce -7.3% 0.39% −0.05
AMZN Amazon.com Inc. Reduce -4.7% 2.56% −0.05
HON Honeywell International Inc. Reduce -0.1% 0.46% −0.05
MLM Martin Marietta Materials Reduce -5.4% 0.48% −0.04
FERG Ferguson Enterprises Inc. Reduce -5.9% 0.47% −0.04
XLP SS Consumer Staples Sel Sect Reduce -1.0% 0.99% −0.04
VOT Vngrd Mrngstr MC GRW ETF-Usd Reduce -1.7% 0.44% −0.04
NKE Nike Inc. Class B Reduce -5.8% 0.21% −0.04
BSX Boston Scientific Corp. Reduce -0.0% 0.83% −0.04
BLV Vanguard Long-Term Bond ETF Reduce -0.9% 0.63% −0.03
CVX Chevron Corp. Reduce -2.7% 0.43% −0.03
TIP iShares Tips Bond ETF Reduce -0.6% 0.74% −0.03
XLF SS Financial Select Sector Reduce -1.9% 1.21% −0.03
XLI SS Industrial Select Sector Reduce -0.8% 1.21% −0.03
ACN Accenture PLC Class A Reduce -13.3% 0.33% −0.03
VFH Vanguard Financials ETF Reduce -1.6% 1.22% −0.02
VXF Vanguard Extended Market ETF Reduce -1.5% 0.63% −0.02
SPY SS SPDR S&P 500 ETF Trust-US Reduce -1.7% 1.36% −0.02
XLU St Sr Utl SL SE SPDR ETF-Usd Reduce -1.8% 0.33% −0.02
THC Tenet Healthcare Corp. Reduce -6.0% 0.18% −0.02
ADBE Adobe Inc. Reduce -1.2% 0.44% −0.02
QQQ Invesco QQQ Trust Series 1 Reduce -1.0% 2.02% −0.02
SPHQ Invesco S&P 500 Quality ETF Reduce -6.8% 0.26% −0.02
USFR Wisdomtree Floating Rate Tre Reduce -0.3% 0.70% −0.02
VNQ Vanguard Real Estate ETF Reduce -1.0% 0.25% −0.02
VWO Vanguard Ftse Emerging Marke Reduce -2.0% 0.32% −0.02
IVV iShares Core S&P 500 ETF Reduce -1.6% 1.07% −0.02
SCHW Schwab (charles) Corp. Reduce -5.8% 0.44% −0.02
ICSH iShares Ultra Short Duration Reduce -0.3% 0.50% −0.01
XLB SS Materials Select Sector Reduce -2.6% 0.33% −0.01
XLE SS Energy Select Sector Reduce -1.0% 0.36% −0.01

Portfolio Buys Q3 2025 → Q4 2025
BMRC Bank of Marin Bancorp Add +364.7% 1.87% +1.49
GOOGL Alphabet Inc. Class A Add +1.7% 2.94% +0.65
ARM Arm Holdings PLC-ADR New 0.35% +0.35
IFF Intl Flavors & Fragrances New 0.28% +0.28
ATI Ati Inc. Add +8.0% 0.59% +0.19
FCX Freeport-McMoran Inc. New 0.17% +0.17
IWF iShares Russell 1000 Growth New 0.14% +0.14
FICO Fair Isaac Corp. Add +14.1% 0.41% +0.08
CGMU Cap Group Municipal Income Add +16.5% 0.49% +0.06
RWT Redwood Trust Inc. New 0.04% +0.04
IEMG iShares Core MSCI Emerging Add +6.1% 0.50% +0.03
DYNF Ishrs US E F R A ETF-Usd Inc. Add +3.7% 0.53% +0.02
PFF iShares Preferred & Income S Add +6.3% 0.78% +0.01
SRLN SS Blackstone Sr Loan ETF Add +3.2% 0.27% +0.00
FENY Fidelity MSCI Energy Index Add +0.1% 0.45% −0.01
SYK Stryker Corp. Add +5.8% 0.55% −0.01
CSGP Costar Group Inc. Add +24.8% 0.34% −0.01
SCHO Schwab Short-Term US Treas Add +0.5% 1.37% −0.02
ELF Elf Beauty Inc. Add +48.1% 0.17% −0.03
BNDX Vanguard Total Intl Bond ETF Add +0.3% 0.84% −0.04

Notes & Other Activity Q3 2025 → Q4 2025
WELLS FARGO & COMPANY (WFC 7.5 PERP L) PERP PFD CNV A Reduce -11.6% 229 $278K

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