Exchange Bank

In its 13F for Q3 2024 (holdings as of September 30, 2024, filed October 10, 2024), Exchange Bank reported 114 stock positions worth $122.3 million. Its top holding was Apple (AAPL) at 5.5% of the portfolio, followed by Johnson & Johnson (JNJ, 3.4%) and Microsoft (MSFT, 3.3%). Compared with Q2 2024, it opened 6 new positions, sold out of 1, added to 16 and reduced 42. The biggest buy was a new position in Travelers Cos (TRV) and the biggest sale iShares Core U.S. Aggregate (AGG, shares −45%).

Most Recent 13F
Q2 2026
Location
SANTA ROSA, CA
CIK
0002001155
Portfolio Value
$122.3M (Q3 2024)
SEC Filing
0002001155-24-000004 ↗ filed Oct 10, 2024

Holdings Value

0$50.0M$100.0M$150.0M$200.0M Q1 2024: $121.7M Q1 2024 Q2 2024: $117.7M Q2 2024 Q3 2024: $122.3M $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 114 stocks · $122.3M
AAPL Apple Inc. 5.46% 28,641 $6.7M Reduce -1.8%
JNJ Johnson & Johnson 3.42% 25,806 $4.2M Reduce -1.6%
MSFT Microsoft Corp. 3.35% 9,507 $4.1M Reduce -2.8%
PG The Procter & Gamble Co. 3.24% 22,858 $4.0M Add +0.7%
MUB iShares National Muni Bond E 3.17% 35,687 $3.9M Reduce -7.5%
VTI VG Morningstar TS MKT ETF-US 3.06% 13,202 $3.7M Add +3.5%
AGG iShares Core U.S. Aggregate 2.99% 36,109 $3.7M Reduce -45.0%
BND Vanguard Total Bond Market 2.89% 47,064 $3.5M Reduce -1.0%
CVX Chevron Corp. 2.86% 23,750 $3.5M Reduce -0.3%
XOM Exxon Mobil Corp. 2.47% 25,769 $3.0M Reduce -0.1%
CAT Caterpillar Inc. 2.42% 7,578 $3.0M No change
WMT Walmart Inc. 2.40% 36,377 $2.9M No change
UNP Union Pacific Corp. 1.99% 9,849 $2.4M No change
JPM JPMorgan Chase & Co. 1.92% 11,149 $2.4M Reduce -10.1%
KO The Coca-Cola Co. 1.81% 30,847 $2.2M Reduce -0.4%
BRK.A Berkshire Hathaway Inc. Class A 1.70% 3 $2.1M No change
IJH iShares Core S&P Midcap ETF 1.63% 31,992 $2.0M Reduce -0.4%
MRK Merck & Co. Inc. 1.47% 15,801 $1.8M Add +0.4%
SCHB Schwab US Broad Market ETF 1.41% 26,000 $1.7M No change
IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS 1.40% 7,727 $1.7M No change
SPY SS SPDR S&P 500 ETF Trust-US 1.38% 2,941 $1.7M Reduce -0.3%
TGT Target Corp. 1.36% 10,680 $1.7M Reduce -6.5%
ADP Automatic Data Processing 1.30% 5,734 $1.6M No change
BMY Bristol-Myers Squibb Co. 1.26% 29,845 $1.5M No change
NVDA Nvidia Corp. 1.26% 12,692 $1.5M Reduce -1.5%
GOOGL Alphabet Inc. Class A 1.20% 8,873 $1.5M Reduce -0.1%
NSC Norfolk Southern Corp. 1.20% 5,906 $1.5M Reduce -2.5%
TXN Texas Instruments Inc. 1.19% 7,051 $1.5M Reduce -9.1%
PM Philip Morris International 1.14% 11,512 $1.4M Reduce -0.3%
MRSH Marsh & McLennan Cos 1.14% 6,239 $1.4M No change
VCSH Vanguard S/T Corp. Bond ETF 1.12% 17,260 $1.4M Add +6.4%
IAGG iShares Intl Aggregate Bond 1.00% 23,685 $1.2M Reduce -18.1%
GOOG Alphabet Inc. Class C 0.98% 7,165 $1.2M Add +0.6%
IGSB iShares 1-5Y Inv Grade Corp. 0.95% 22,163 $1.2M No change
NEE Nextera Energy Inc. 0.94% 13,669 $1.2M Reduce -0.5%
AMZN Amazon.com Inc. 0.92% 6,041 $1.1M Add +3.0%
HD Home Depot Inc. 0.82% 2,485 $1.0M Reduce -0.5%
PEP Pepsico Inc. 0.81% 5,855 $996K Add +7.5%
MCD McDonald's Corp. 0.74% 2,982 $908K Add +12.4%
ORCL Oracle Corp. 0.72% 5,190 $884K No change
LLY Eli Lilly & Co. 0.72% 989 $876K Reduce -11.8%
AXP American Express Co. 0.67% 3,035 $823K Reduce -3.3%
VEA Vanguard Ftse Developed ETF 0.64% 14,913 $788K Add +7.0%
MDLZ Mondelez International Inc. Class A 0.64% 10,647 $784K Reduce -0.8%
BRK.B Berkshire Hathaway Inc. Class B 0.64% 1,700 $782K Reduce -1.4%
FALN iShares Fallen Angels ETF 0.63% 28,247 $772K Reduce -9.4%
HON Honeywell International Inc. 0.63% 3,706 $766K No change
FDX FedEx Corp. 0.61% 2,705 $740K Reduce -2.9%
COST Costco Wholesale Corp. 0.59% 817 $724K No change
MO Altria Group Inc. 0.59% 14,018 $715K Reduce -0.7%
GL Globe Life Inc. 0.58% 6,750 $715K No change
PFE Pfizer Inc. 0.57% 23,893 $691K No change
BDX Becton Dickinson and Co. 0.56% 2,840 $685K No change
EFA iShares MSCI Eafe ETF 0.54% 7,857 $657K No change
IWM iShares Russell 2000 ETF 0.54% 2,971 $656K No change
VBR Vngrd Mrngst SL-CP Val ETF-U 0.53% 3,255 $654K Add +7.9%
LOW Lowe's Cos Inc. 0.51% 2,299 $623K Reduce -0.7%
USMV iShares MSCI USA Min Vol Fac 0.51% 6,800 $621K Reduce -2.9%
IJR iShares Core S&P Small-Cap E 0.50% 5,197 $608K No change
CSCO Cisco Systems Inc. 0.49% 11,239 $598K Reduce -0.9%
MA Mastercard Inc. Class A 0.48% 1,200 $593K Reduce -0.3%
SPHY SS SPDR P High Yield ETF 0.47% 23,960 $576K Reduce -36.2%
A Agilent Technologies Inc. 0.47% 3,836 $570K No change
VNQ Vanguard Real Estate ETF 0.46% 5,826 $568K Reduce -10.3%
HBAN Huntington Bancshares Inc. 0.46% 38,024 $559K No change
BNY Bank of New York Mellon Corp. filed as BANK NEW YORK MELLON CORP 0.45% 7,658 $550K Reduce -10.5%
GE General Electric filed as GE AEROSPACE 0.45% 2,894 $546K Add +2.7%
META Meta Platforms Inc. Class A 0.42% 901 $516K Reduce -4.9%
ADBE Adobe Inc. 0.41% 964 $499K No change
BR Broadridge Financial Solutio 0.40% 2,250 $484K No change
UNH Unitedhealth Group Inc. 0.39% 825 $482K No change
ITW Illinois Tool Works 0.38% 1,783 $467K No change
SUSB iShares ESG Aware 1-5 Year U 0.38% 18,333 $461K Add +42.1%
BLK BlackRock Finance Inc. 0.37% 473 $449K No change
V Visa Inc. Class A 0.36% 1,604 $441K Reduce -0.4%
MMM 3M Co. 0.35% 3,160 $432K No change
LQD Ishr Ibx Usd Invgd CB ETF-Ui 0.34% 3,722 $421K No change
VOO Vanguard S&P 500 ETF 0.33% 758 $400K No change
VWO Vanguard Ftse Emerging Marke 0.32% 8,215 $393K Add +4.1%
DD Dupont DE Nemours Inc. 0.32% 4,403 $392K Reduce -0.2%
QUAL iShares MSCI USA Quality Fac 0.32% 2,184 $392K Add +31.6%
ABBV Abbvie Inc. 0.31% 1,939 $383K No change
EMR Emerson Electric Co. 0.31% 3,476 $380K No change
VYM Vanguard High DVD Yield ETF 0.29% 2,795 $358K Add +12.0%
AVGO Broadcom Inc. 0.29% 2,040 $352K No change
DUK Duke Energy Corp. 0.29% 3,045 $351K No change
DIS The Walt Disney Co. filed as DISNEY WALT CO 0.28% 3,505 $337K No change
SUB iShares Short-Term National 0.26% 2,965 $315K No change
NOC Northrop Grumman Corp. 0.26% 596 $315K No change
LMT Lockheed Martin Corp. 0.25% 514 $300K No change
GPC Genuine Parts Co. 0.24% 2,124 $297K No change
RTX RTX Corp. 0.24% 2,421 $293K Add +3.3%
BKNG Booking Holdings Inc. 0.24% 69 $291K No change
IVV iShares Core S&P 500 ETF 0.24% 500 $288K Reduce -3.7%
AON Aon PLC Class A 0.24% 832 $288K No change
TRV The Travelers Cos Inc. 0.23% 1,223 $286K New
MCHP Microchip Technology Inc. 0.23% 3,432 $276K No change
CSX CSX Corp. 0.22% 7,933 $274K No change
UPS United Parcel Service Class B 0.22% 2,009 $274K No change
MDT Medtronic PLC 0.22% 2,952 $266K No change
ACN Accenture PLC Class A 0.21% 737 $261K Reduce -0.7%
DOW Dow Inc. 0.21% 4,627 $253K Reduce -0.0%
FICO Fair Isaac Corp. 0.21% 130 $253K Reduce -8.4%
T AT&T Inc. 0.21% 11,419 $251K No change
AMAT Applied Materials Inc. 0.20% 1,180 $238K New
PNC PNC Financial Services Group 0.19% 1,230 $227K New
FLOT iShares Floating Rate Bond E 0.18% 4,401 $225K No change
LIN Linde PLC 0.18% 470 $224K No change
QCOM Qualcomm Inc. 0.18% 1,307 $222K No change
TFI SS SPDR N Ice Muni Bond ETF 0.18% 4,622 $216K No change
CRM Salesforce Inc. 0.17% 764 $209K New
NFLX Netflix Inc. 0.17% 293 $208K New
PAYX Paychex Inc. 0.17% 1,523 $204K New
TSM Taiwan Semiconductor-SP ADR 0.17% 1,172 $204K No change

Portfolio Sells Q2 2024 → Q3 2024
AGG iShares Core U.S. Aggregate Reduce -45.0% 2.99% −2.42
MSFT Microsoft Corp. Reduce -2.8% 3.35% −0.37
MUB iShares National Muni Bond E Reduce -7.5% 3.17% −0.32
CVX Chevron Corp. Reduce -0.3% 2.86% −0.31
SPHY SS SPDR P High Yield ETF Reduce -36.2% 0.47% −0.27
QQQ Invesco QQQ Trust Series 1 Sold out 0.00% −0.27
IAGG iShares Intl Aggregate Bond Reduce -18.1% 1.00% −0.22
JPM JPMorgan Chase & Co. Reduce -10.1% 1.92% −0.21
GOOGL Alphabet Inc. Class A Reduce -0.1% 1.20% −0.17
LLY Eli Lilly & Co. Reduce -11.8% 0.72% −0.15
FDX FedEx Corp. Reduce -2.9% 0.61% −0.10
NVDA Nvidia Corp. Reduce -1.5% 1.26% −0.09
TXN Texas Instruments Inc. Reduce -9.1% 1.19% −0.09
TGT Target Corp. Reduce -6.5% 1.36% −0.08
FALN iShares Fallen Angels ETF Reduce -9.4% 0.63% −0.06
XOM Exxon Mobil Corp. Reduce -0.1% 2.47% −0.05
BND Vanguard Total Bond Market Reduce -1.0% 2.89% −0.02
IVV iShares Core S&P 500 ETF Reduce -3.7% 0.24% −0.01
DOW Dow Inc. Reduce -0.0% 0.21% −0.00
V Visa Inc. Class A Reduce -0.4% 0.36% +0.00
VNQ Vanguard Real Estate ETF Reduce -10.3% 0.46% +0.00
USMV iShares MSCI USA Min Vol Fac Reduce -2.9% 0.51% +0.01
BNY Bank of New York Mellon Corp. Reduce -10.5% 0.45% +0.01
SPY SS SPDR S&P 500 ETF Trust-US Reduce -0.3% 1.38% +0.02
META Meta Platforms Inc. Class A Reduce -4.9% 0.42% +0.02
DD Dupont DE Nemours Inc. Reduce -0.2% 0.32% +0.02
ACN Accenture PLC Class A Reduce -0.7% 0.21% +0.02
FICO Fair Isaac Corp. Reduce -8.4% 0.21% +0.03
CSCO Cisco Systems Inc. Reduce -0.9% 0.49% +0.03
MA Mastercard Inc. Class A Reduce -0.3% 0.48% +0.03
IJH iShares Core S&P Midcap ETF Reduce -0.4% 1.63% +0.03
MO Altria Group Inc. Reduce -0.7% 0.59% +0.04
BRK.B Berkshire Hathaway Inc. Class B Reduce -1.4% 0.64% +0.04
MDLZ Mondelez International Inc. Class A Reduce -0.8% 0.64% +0.04
AXP American Express Co. Reduce -3.3% 0.67% +0.06
LOW Lowe's Cos Inc. Reduce -0.7% 0.51% +0.08
HD Home Depot Inc. Reduce -0.5% 0.82% +0.09
NSC Norfolk Southern Corp. Reduce -2.5% 1.20% +0.10
NEE Nextera Energy Inc. Reduce -0.5% 0.94% +0.12
KO The Coca-Cola Co. Reduce -0.4% 1.81% +0.14
PM Philip Morris International Reduce -0.3% 1.14% +0.15
JNJ Johnson & Johnson Reduce -1.6% 3.42% +0.16
AAPL Apple Inc. Reduce -1.8% 5.46% +0.24

Portfolio Buys Q2 2024 → Q3 2024
TRV The Travelers Cos Inc. New 0.23% +0.23
AMAT Applied Materials Inc. New 0.20% +0.20
PNC PNC Financial Services Group New 0.19% +0.19
CRM Salesforce Inc. New 0.17% +0.17
NFLX Netflix Inc. New 0.17% +0.17
MCD McDonald's Corp. Add +12.4% 0.74% +0.17
PAYX Paychex Inc. New 0.17% +0.17
VTI VG Morningstar TS MKT ETF-US Add +3.5% 3.06% +0.16
SUSB iShares ESG Aware 1-5 Year U Add +42.1% 0.38% +0.11
QUAL iShares MSCI USA Quality Fac Add +31.6% 0.32% +0.08
VBR Vngrd Mrngst SL-CP Val ETF-U Add +7.9% 0.53% +0.07
GE General Electric Add +2.7% 0.45% +0.07
VEA Vanguard Ftse Developed ETF Add +7.0% 0.64% +0.06
PG The Procter & Gamble Co. Add +0.7% 3.24% +0.06
VCSH Vanguard S/T Corp. Bond ETF Add +6.4% 1.12% +0.06
PEP Pepsico Inc. Add +7.5% 0.81% +0.05
VYM Vanguard High DVD Yield ETF Add +12.0% 0.29% +0.04
RTX RTX Corp. Add +3.3% 0.24% +0.04
VWO Vanguard Ftse Emerging Marke Add +4.1% 0.32% +0.03
AMZN Amazon.com Inc. Add +3.0% 0.92% −0.04
GOOG Alphabet Inc. Class C Add +0.6% 0.98% −0.13
MRK Merck & Co. Inc. Add +0.4% 1.47% −0.19

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