Exchange Bank

In its 13F for Q2 2024 (holdings as of June 30, 2024, filed July 10, 2024), Exchange Bank reported 109 stock positions worth $117.7 million. Its top holding was iShares Core U.S. Aggregate (AGG) at 5.4% of the portfolio, followed by Apple (AAPL, 5.2%) and Microsoft (MSFT, 3.7%). Compared with Q1 2024, it opened 2 new positions, sold out of 7, added to 23 and reduced 54. The biggest buy was Vanguard Total Bond Market (BND, shares +15%) and the biggest sale iShares Core U.S. Aggregate (AGG, shares −25%).

Most Recent 13F
Q2 2026
Location
SANTA ROSA, CA
CIK
0002001155
Portfolio Value
$117.7M (Q2 2024)
SEC Filing
0002001155-24-000003 ↗ filed Jul 10, 2024

Holdings Value

0$50.0M$100.0M$150.0M$200.0M Q1 2024: $121.7M Q1 2024 Q2 2024: $117.7M $117.7M Q2 2024 Q3 2024: $122.3M Q3 2024 Q4 2024: $124.4M Q4 2024 Q1 2025: $124.0M Q1 2025 Q2 2025: $126.4M Q2 2025 Q3 2025: $144.1M Q3 2025 Q4 2025: $144.6M Q4 2025 Q1 2026: $144.3M Q1 2026 Q2 2026: $160.6M Q2 2026

Holdings 109 stocks · $117.7M
AGG iShares Core U.S. Aggregate 5.41% 65,606 $6.4M Reduce -25.4%
AAPL Apple Inc. 5.22% 29,155 $6.1M Reduce -0.6%
MSFT Microsoft Corp. 3.71% 9,776 $4.4M Reduce -6.3%
MUB iShares National Muni Bond E 3.49% 38,592 $4.1M Reduce -18.2%
JNJ Johnson & Johnson 3.26% 26,226 $3.8M Reduce -1.7%
PG The Procter & Gamble Co. 3.18% 22,698 $3.7M Reduce -2.4%
CVX Chevron Corp. 3.17% 23,833 $3.7M Reduce -1.3%
BND Vanguard Total Bond Market 2.91% 47,548 $3.4M Add +14.6%
VTI VG Morningstar TS MKT ETF-US 2.90% 12,749 $3.4M Add +6.6%
XOM Exxon Mobil Corp. 2.52% 25,801 $3.0M Reduce -1.2%
CAT Caterpillar Inc. 2.15% 7,578 $2.5M No change
JPM JPMorgan Chase & Co. 2.13% 12,405 $2.5M Reduce -1.0%
WMT Walmart Inc. 2.09% 36,377 $2.5M Reduce -1.3%
UNP Union Pacific Corp. 1.89% 9,849 $2.2M Reduce -1.5%
KO The Coca-Cola Co. 1.68% 30,968 $2.0M Reduce -1.7%
MRK Merck & Co. Inc. 1.66% 15,744 $1.9M Reduce -1.7%
IJH iShares Core S&P Midcap ETF 1.60% 32,112 $1.9M Reduce -0.8%
BRK.A Berkshire Hathaway Inc. Class A 1.56% 3 $1.8M No change
TGT Target Corp. 1.44% 11,428 $1.7M No change
SCHB Schwab US Broad Market ETF 1.39% 26,000 $1.6M No change
GOOGL Alphabet Inc. Class A 1.37% 8,880 $1.6M Reduce -0.0%
SPY SS SPDR S&P 500 ETF Trust-US 1.36% 2,950 $1.6M Add +8.5%
NVDA Nvidia Corp. 1.35% 12,886 $1.6M Reduce -4.6%
TXN Texas Instruments Inc. 1.28% 7,759 $1.5M Reduce -0.6%
IAGG iShares Intl Aggregate Bond 1.23% 28,914 $1.4M Add +4.6%
ADP Automatic Data Processing 1.16% 5,734 $1.4M Reduce -5.1%
IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS 1.14% 7,727 $1.3M Reduce -0.6%
MRSH Marsh & McLennan Cos 1.12% 6,239 $1.3M No change
GOOG Alphabet Inc. Class C 1.11% 7,124 $1.3M Reduce -3.4%
NSC Norfolk Southern Corp. 1.10% 6,056 $1.3M No change
VCSH Vanguard S/T Corp. Bond ETF 1.06% 16,216 $1.3M Add +9.5%
BMY Bristol-Myers Squibb Co. 1.05% 29,845 $1.2M Reduce -3.1%
PM Philip Morris International 0.99% 11,553 $1.2M Reduce -1.5%
IGSB iShares 1-5Y Inv Grade Corp. 0.97% 22,163 $1.1M Add +0.2%
AMZN Amazon.com Inc. 0.96% 5,866 $1.1M Reduce -2.1%
LLY Eli Lilly & Co. 0.86% 1,122 $1.0M Reduce -3.5%
NEE Nextera Energy Inc. 0.83% 13,732 $972K Reduce -0.2%
PEP Pepsico Inc. 0.76% 5,445 $898K Reduce -2.2%
SPHY SS SPDR P High Yield ETF 0.74% 37,573 $873K Add +11.4%
HD Home Depot Inc. 0.73% 2,498 $860K Reduce -0.2%
FDX FedEx Corp. 0.71% 2,786 $835K No change
FALN iShares Fallen Angels ETF 0.69% 31,191 $817K Add +0.7%
HON Honeywell International Inc. 0.67% 3,706 $791K Reduce -1.9%
ORCL Oracle Corp. 0.62% 5,190 $733K Reduce -0.9%
AXP American Express Co. 0.62% 3,137 $726K Add +0.9%
MDLZ Mondelez International Inc. Class A 0.60% 10,727 $702K Add +0.7%
BRK.B Berkshire Hathaway Inc. Class B 0.60% 1,725 $702K Reduce -2.8%
COST Costco Wholesale Corp. 0.59% 817 $694K Add +1.1%
VEA Vanguard Ftse Developed ETF 0.59% 13,932 $689K Add +7.4%
MCD McDonald's Corp. 0.57% 2,652 $676K Reduce -0.2%
PFE Pfizer Inc. 0.57% 23,893 $669K Reduce -4.7%
BDX Becton Dickinson and Co. 0.56% 2,840 $664K No change
MO Altria Group Inc. 0.55% 14,113 $643K Reduce -1.5%
EFA iShares MSCI Eafe ETF 0.52% 7,857 $615K Add +5.0%
IWM iShares Russell 2000 ETF 0.51% 2,971 $603K Reduce -4.0%
USMV iShares MSCI USA Min Vol Fac 0.50% 7,000 $588K No change
GL Globe Life Inc. 0.47% 6,750 $555K No change
IJR iShares Core S&P Small-Cap E 0.47% 5,197 $554K Reduce -3.6%
VBR Vngrd Mrngst SL-CP Val ETF-U 0.47% 3,017 $551K Add +6.3%
VNQ Vanguard Real Estate ETF 0.46% 6,492 $544K Reduce -2.2%
CSCO Cisco Systems Inc. 0.46% 11,339 $539K Reduce -5.4%
ADBE Adobe Inc. 0.46% 964 $536K Reduce -4.1%
MA Mastercard Inc. Class A 0.45% 1,204 $531K Reduce -1.1%
BNY Bank of New York Mellon Corp. filed as BANK NEW YORK MELLON CORP 0.44% 8,556 $512K Reduce -1.3%
LOW Lowe's Cos Inc. 0.43% 2,315 $510K Add +2.1%
HBAN Huntington Bancshares Inc. 0.43% 38,024 $501K No change
A Agilent Technologies Inc. 0.42% 3,836 $497K No change
META Meta Platforms Inc. Class A 0.41% 947 $477K Reduce -2.2%
GE General Electric filed as GE AEROSPACE 0.38% 2,819 $448K Add +0.7%
BR Broadridge Financial Solutio 0.38% 2,250 $443K No change
V Visa Inc. Class A 0.36% 1,611 $423K Reduce -4.5%
ITW Illinois Tool Works 0.36% 1,783 $423K No change
UNH Unitedhealth Group Inc. 0.36% 825 $420K Add +14.3%
LQD Ishr Ibx Usd Invgd CB ETF-Ui 0.34% 3,722 $399K No change
EMR Emerson Electric Co. 0.33% 3,476 $383K Reduce -0.8%
VOO Vanguard S&P 500 ETF 0.32% 758 $379K No change
BLK BlackRock Finance Inc. 0.32% 473 $372K Reduce -3.3%
DD Dupont DE Nemours Inc. 0.30% 4,410 $355K No change
DIS The Walt Disney Co. filed as DISNEY WALT CO 0.30% 3,505 $348K Reduce -6.1%
VWO Vanguard Ftse Emerging Marke 0.29% 7,892 $345K Add +18.9%
ABBV Abbvie Inc. 0.28% 1,939 $333K Reduce -1.4%
AVGO Broadcom Inc. 0.28% 204 $328K Reduce -13.9%
MMM 3M Co. 0.27% 3,160 $323K No change
SUSB iShares ESG Aware 1-5 Year U 0.27% 12,897 $316K Add +36.3%
QQQ Invesco QQQ Trust Series 1 0.27% 658 $315K Reduce -11.0%
MCHP Microchip Technology Inc. 0.27% 3,432 $314K No change
SUB iShares Short-Term National 0.26% 2,965 $310K No change
DUK Duke Energy Corp. 0.26% 3,045 $305K No change
VYM Vanguard High DVD Yield ETF 0.25% 2,495 $296K Add +20.2%
GPC Genuine Parts Co. 0.25% 2,124 $294K No change
IVV iShares Core S&P 500 ETF 0.24% 519 $284K Add +5.3%
QUAL iShares MSCI USA Quality Fac 0.24% 1,660 $283K Add +15.0%
UPS United Parcel Service Class B 0.23% 2,009 $275K No change
BKNG Booking Holdings Inc. 0.23% 69 $273K Reduce -9.2%
CSX CSX Corp. 0.23% 7,933 $265K No change
QCOM Qualcomm Inc. 0.22% 1,307 $260K No change
NOC Northrop Grumman Corp. 0.22% 596 $260K No change
DOW Dow Inc. 0.21% 4,629 $246K No change
AON Aon PLC Class A 0.21% 832 $244K Reduce -4.3%
LMT Lockheed Martin Corp. 0.20% 514 $240K No change

Show all 109 holdings

Portfolio Sells Q1 2024 → Q2 2024
AGG iShares Core U.S. Aggregate Reduce -25.4% 5.41% −1.67
MUB iShares National Muni Bond E Reduce -18.2% 3.49% −0.68
BMY Bristol-Myers Squibb Co. Reduce -3.1% 1.05% −0.32
JNJ Johnson & Johnson Reduce -1.7% 3.26% −0.21
INTC Intel Corp. Sold out 0.00% −0.20
CRM Salesforce Inc. Sold out 0.00% −0.19
BA The Boeing Co. Sold out 0.00% −0.18
VLO Valero Energy Corp. Sold out 0.00% −0.18
PNC PNC Financial Services Group Sold out 0.00% −0.17
VZ Verizon Communications Inc. Sold out 0.00% −0.17
CMCSA Comcast Corp. Class A Sold out 0.00% −0.16
UNP Union Pacific Corp. Reduce -1.5% 1.89% −0.13
IBM Intl Business Machines Corp. Reduce -0.6% 1.14% −0.08
T AT&T Inc. Reduce -38.0% 0.19% −0.08
MRK Merck & Co. Inc. Reduce -1.7% 1.66% −0.08
DIS The Walt Disney Co. Reduce -6.1% 0.30% −0.08
ADP Automatic Data Processing Reduce -5.1% 1.16% −0.08
HD Home Depot Inc. Reduce -0.2% 0.73% −0.06
MCD McDonald's Corp. Reduce -0.2% 0.57% −0.04
FICO Fair Isaac Corp. Reduce -33.3% 0.18% −0.04
PEP Pepsico Inc. Reduce -2.2% 0.76% −0.04
CSCO Cisco Systems Inc. Reduce -5.4% 0.46% −0.03
AON Aon PLC Class A Reduce -4.3% 0.21% −0.03
MA Mastercard Inc. Class A Reduce -1.1% 0.45% −0.03
V Visa Inc. Class A Reduce -4.5% 0.36% −0.03
IWM iShares Russell 2000 ETF Reduce -4.0% 0.51% −0.02
BLK BlackRock Finance Inc. Reduce -3.3% 0.32% −0.02
IJH iShares Core S&P Midcap ETF Reduce -0.8% 1.60% −0.02
IJR iShares Core S&P Small-Cap E Reduce -3.6% 0.47% −0.02
BRK.B Berkshire Hathaway Inc. Class B Reduce -2.8% 0.60% −0.02
ABBV Abbvie Inc. Reduce -1.4% 0.28% −0.01
VNQ Vanguard Real Estate ETF Reduce -2.2% 0.46% −0.01
LIN Linde PLC Reduce -1.9% 0.18% −0.01
PFE Pfizer Inc. Reduce -4.7% 0.57% −0.00
QQQ Invesco QQQ Trust Series 1 Reduce -11.0% 0.27% −0.00
EMR Emerson Electric Co. Reduce -0.8% 0.33% −0.00
BKNG Booking Holdings Inc. Reduce -9.2% 0.23% +0.01
RTX RTX Corp. Reduce -1.6% 0.20% +0.01
META Meta Platforms Inc. Class A Reduce -2.2% 0.41% +0.02
AVGO Broadcom Inc. Reduce -13.9% 0.28% +0.02
BNY Bank of New York Mellon Corp. Reduce -1.3% 0.44% +0.03
XOM Exxon Mobil Corp. Reduce -1.2% 2.52% +0.03
MO Altria Group Inc. Reduce -1.5% 0.55% +0.03
HON Honeywell International Inc. Reduce -1.9% 0.67% +0.04
CVX Chevron Corp. Reduce -1.3% 3.17% +0.04
ADBE Adobe Inc. Reduce -4.1% 0.46% +0.04
JPM JPMorgan Chase & Co. Reduce -1.0% 2.13% +0.07
AMZN Amazon.com Inc. Reduce -2.1% 0.96% +0.08
PG The Procter & Gamble Co. Reduce -2.4% 3.18% +0.08
ORCL Oracle Corp. Reduce -0.9% 0.62% +0.08

Portfolio Buys Q1 2024 → Q2 2024
BND Vanguard Total Bond Market Add +14.6% 2.91% +0.44
VTI VG Morningstar TS MKT ETF-US Add +6.6% 2.90% +0.34
SPY SS SPDR S&P 500 ETF Trust-US Add +8.5% 1.36% +0.20
FLOT iShares Floating Rate Bond E New 0.19% +0.19
TSM Taiwan Semiconductor-SP ADR New 0.17% +0.17
VCSH Vanguard S/T Corp. Bond ETF Add +9.5% 1.06% +0.12
COST Costco Wholesale Corp. Add +1.1% 0.59% +0.10
IAGG iShares Intl Aggregate Bond Add +4.6% 1.23% +0.09
SPHY SS SPDR P High Yield ETF Add +11.4% 0.74% +0.09
SUSB iShares ESG Aware 1-5 Year U Add +36.3% 0.27% +0.08
VWO Vanguard Ftse Emerging Marke Add +18.9% 0.29% +0.07
UNH Unitedhealth Group Inc. Add +14.3% 0.36% +0.06
VEA Vanguard Ftse Developed ETF Add +7.4% 0.59% +0.05
QUAL iShares MSCI USA Quality Fac Add +15.0% 0.24% +0.05
VYM Vanguard High DVD Yield ETF Add +20.2% 0.25% +0.04
AXP American Express Co. Add +0.9% 0.62% +0.04
IGSB iShares 1-5Y Inv Grade Corp. Add +0.2% 0.97% +0.03
EFA iShares MSCI Eafe ETF Add +5.0% 0.52% +0.03
IVV iShares Core S&P 500 ETF Add +5.3% 0.24% +0.03
VBR Vngrd Mrngst SL-CP Val ETF-U Add +6.3% 0.47% +0.02
FALN iShares Fallen Angels ETF Add +0.7% 0.69% +0.01
ACN Accenture PLC Class A Add +14.5% 0.19% +0.01
MDLZ Mondelez International Inc. Class A Add +0.7% 0.60% −0.02
GE General Electric Add +0.7% 0.38% −0.02
LOW Lowe's Cos Inc. Add +2.1% 0.43% −0.04

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 130$160.6MAAPL, CAT, JNJ, VTI, MUB
Q1 2026 117$144.3MAAPL, JNJ, MUB, CAT, CVX
Q4 2025 121$144.6MAAPL, JNJ, MUB, MSFT, CAT
Q3 2025 124$144.1MAAPL, JNJ, MUB, MSFT, VTI
Q2 2025 120$126.4MAAPL, MUB, MSFT, JNJ, VTI
Q1 2025 113$124.0MMUB, AAPL, JNJ, AGG, PG
Q4 2024 112$124.4MAAPL, MUB, MSFT, AGG, VTI
Q3 2024 114$122.3MAAPL, JNJ, MSFT, PG, MUB
Q2 2024 109$117.7MAGG, AAPL, MSFT, MUB, JNJ
Q1 2024 114$121.7MAGG, MUB, AAPL, MSFT, JNJ