Exchange Capital Management, Inc.
In its 13F for Q1 2024 (holdings as of March 31, 2024, filed April 18, 2024), Exchange Capital Management, Inc. reported 188 stock positions worth $614.6 million. Its top holding was Microsoft (MSFT) at 5.1% of the portfolio, followed by Amazon.com (AMZN, 3.2%) and Alphabet Class A (GOOGL, 3.2%). Compared with Q4 2023, it opened 11 new positions, sold out of 4, added to 84 and reduced 76. The biggest buy was a new position in United Tech and the biggest sale an exit from RTX (RTX).
- Most Recent 13F
- Q2 2025
- Location
- Ann Arbor, MI
- CIK
- 0001317733
- Portfolio Value
- $614.6M (Q1 2024)
- SEC Filing
- 0001104659-24-048870 ↗ filed Apr 18, 2024
Holdings Value
Holdings 188 stocks · $614.6M
| MSFT Microsoft Corp. | 5.08% | 74,162 | $31.2M | Add +0.6% |
| AMZN Amazon.com Inc. | 3.19% | 108,620 | $19.6M | Add +2.3% |
| GOOGL Alphabet Inc. Class A | 3.15% | 128,381 | $19.4M | Add +1.8% |
| VGT Vanguard Info Tech ETF | 2.84% | 33,245 | $17.4M | Reduce -1.8% |
| BRK.B Berkshire Hathaway Inc. Class B | 2.73% | 39,955 | $16.8M | Add +1.4% |
| DDWM Wisdomtree DY Inter Eq FD-US | 2.67% | 480,374 | $16.4M | Add +0.7% |
| CRM Salesforce Inc. | 2.21% | 45,079 | $13.6M | Reduce -1.4% |
| IJR iShares Core S&P Small-Cap E | 2.06% | 114,332 | $12.6M | Reduce -10.0% |
| KLAC KLA Corp. | 2.00% | 17,593 | $12.3M | Reduce -3.4% |
| MDY State Street SPDR S&P Midcap | 1.98% | 21,845 | $12.2M | Reduce -1.4% |
| BLK BlackRock Finance Inc. | 1.86% | 13,704 | $11.4M | Reduce -1.3% |
| NOW ServiceNow Inc. | 1.73% | 13,942 | $10.6M | Reduce -0.3% |
| HEFA Isha Curr Hedged MSCI Eafe | 1.65% | 290,838 | $10.1M | Add +5.1% |
| VFH Vanguard Financials ETF | 1.57% | 94,135 | $9.6M | Add +1.4% |
| IJH iShares Core S&P Midcap ETF | 1.46% | 147,347 | $8.9M | Reduce -19.7% |
| MNST Monster Beverage Corp. | 1.37% | 141,804 | $8.4M | Reduce -0.3% |
| AGG iShares Core U.S. Aggregate | 1.34% | 83,843 | $8.2M | Add +1.8% |
| MRK Merck & Co. Inc. | 1.33% | 61,858 | $8.2M | Add +0.3% |
| EMR Emerson Electric Co. | 1.26% | 68,487 | $7.8M | Add +0.1% |
| VCR Vanguard Consumer Discre ETF | 1.24% | 23,962 | $7.6M | Add +0.6% |
| VHT Vanguard Health Care ETF | 1.21% | 27,485 | $7.4M | Add +0.5% |
| JPM JPMorgan Chase & Co. | 1.19% | 36,504 | $7.3M | Reduce -1.2% |
| VOX Vanguard Communication Servi | 1.13% | 52,866 | $6.9M | Reduce -1.0% |
| GWRE Guidewire Software Inc. | 1.13% | 59,310 | $6.9M | Reduce -2.5% |
| FTEC Fidelity MSCI Info Tech Indx | 1.12% | 44,366 | $6.9M | Reduce -1.8% |
| VEEV Veeva Systems Inc. Class A | 1.10% | 29,209 | $6.8M | Add +14.4% |
| HD Home Depot Inc. | 1.09% | 17,412 | $6.7M | Reduce -1.3% |
| CMCSA Comcast Corp. Class A | 1.08% | 152,785 | $6.6M | Add +6.6% |
| VIS Vanguard Industrials ETF | 0.98% | 24,606 | $6.0M | Add +0.8% |
| SCHX Schwab US Large-Cap ETF | 0.96% | 95,066 | $5.9M | Reduce -8.6% |
| SCHM Schwab US Mid Cap ETF | 0.93% | 70,492 | $5.7M | Reduce -16.6% |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 0.85% | 42,561 | $5.2M | Reduce -0.6% |
| BSCO Invesco Bulletshares 2024 CB | 0.84% | 245,202 | $5.1M | Reduce -0.3% |
| AMGN Amgen Inc. | 0.82% | 17,770 | $5.1M | Reduce -0.4% |
| VAW Vanguard Materials ETF | 0.82% | 24,704 | $5.1M | Add +1.9% |
| AAPL Apple Inc. | 0.82% | 29,378 | $5.0M | Add +0.2% |
| ADBE Adobe Inc. | 0.80% | 9,778 | $4.9M | Add +5.9% |
| PG The Procter & Gamble Co. | 0.80% | 30,310 | $4.9M | Add +0.1% |
| V Visa Inc. Class A | 0.77% | 16,956 | $4.7M | Reduce -3.6% |
| SPMD SS SPDR P S&P 400 Midcap ETF | 0.74% | 84,917 | $4.5M | Add +805.3% |
| KVUE Kenvue Inc. | 0.73% | 208,040 | $4.5M | Reduce -3.7% |
| SPTM SS SPDR P S&P 1500 Comp ETF | 0.72% | 69,422 | $4.5M | Add +8.7% |
| BSCP Invesco Bulletshares 2025 CB | 0.72% | 217,163 | $4.4M | Add +3.5% |
| BIIB Biogen Inc. | 0.71% | 20,348 | $4.4M | Add +0.3% |
| UNITED TECH CORP filed as RTX | 0.69% | 43,465 | $4.2M | New |
| HON Honeywell International Inc. | 0.69% | 20,649 | $4.2M | Add +19.1% |
| XLK SS Technology Select Sector | 0.68% | 19,979 | $4.2M | Reduce -3.4% |
| SBUX Starbucks Corp. | 0.67% | 45,178 | $4.1M | Reduce -0.7% |
| XOM Exxon Mobil Corp. | 0.67% | 35,345 | $4.1M | Reduce -0.2% |
| PEP Pepsico Inc. | 0.64% | 22,536 | $3.9M | Reduce -3.2% |
| FHLC Fidelity MSCI Health Care | 0.64% | 56,348 | $3.9M | Reduce -1.3% |
| SCHA Schwab US Small-Cap ETF | 0.63% | 78,643 | $3.9M | Reduce -16.4% |
| ZBH Zimmer Biomet Holdings Inc. | 0.61% | 28,571 | $3.8M | Add +24.4% |
| MCHP Microchip Technology Inc. | 0.60% | 41,392 | $3.7M | Reduce -2.6% |
| USB US Bancorp | 0.60% | 82,226 | $3.7M | Add +0.1% |
| IEMG iShares Core MSCI Emerging | 0.56% | 66,432 | $3.4M | Add +6.1% |
| CTVA Corteva Inc. | 0.56% | 59,284 | $3.4M | Add +11.3% |
| SUB iShares Short-Term National | 0.53% | 31,047 | $3.3M | Add +0.8% |
| GD General Dynamics Corp. | 0.52% | 11,210 | $3.2M | No change |
| MCD McDonald's Corp. | 0.51% | 11,104 | $3.1M | Reduce -0.1% |
| LRCX Lam Research Corp. | 0.51% | 3,199 | $3.1M | Reduce -0.4% |
| LOW Lowe's Cos Inc. | 0.50% | 12,180 | $3.1M | Reduce -2.3% |
| BSCT Invesco Bulletshares 2029 CB | 0.50% | 168,744 | $3.1M | Add +38.8% |
| MDT Medtronic PLC | 0.50% | 35,274 | $3.1M | Add +3.1% |
| BAB Invesco Taxable Municipal Bo | 0.50% | 114,834 | $3.0M | Reduce -1.4% |
| VDC Vanguard Consumer Staple ETF | 0.49% | 14,674 | $3.0M | No change |
| LMT Lockheed Martin Corp. | 0.49% | 6,573 | $3.0M | Reduce -0.1% |
| BSCQ Invesco Bulletshares 2026 CB | 0.48% | 154,772 | $3.0M | Add +7.9% |
| SPSM SS SPDR P S&P 600 Small Cap | 0.48% | 68,231 | $2.9M | Add +810.5% |
| LNG Cheniere Energy Inc. | 0.46% | 17,563 | $2.8M | Reduce -0.1% |
| BSCS Invesco Bulletshares 2028 CB | 0.46% | 140,223 | $2.8M | Add +29.0% |
| VPU Vanguard Utilities ETF | 0.45% | 19,584 | $2.8M | Add +1.1% |
| GILD Gilead Sciences Inc. | 0.45% | 37,440 | $2.7M | Add +0.9% |
| FDIS Fidelity MSCI Cons Discr Ind | 0.43% | 32,200 | $2.7M | Reduce -2.1% |
| BSCR Invesco Bulletshares 2027 CB | 0.43% | 135,785 | $2.6M | Add +10.9% |
| VTI VG Morningstar TS MKT ETF-US | 0.42% | 9,947 | $2.6M | Reduce -3.7% |
| JNJ Johnson & Johnson | 0.41% | 16,052 | $2.5M | Add +32.2% |
| IVV iShares Core S&P 500 ETF | 0.40% | 4,733 | $2.5M | Reduce -1.5% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.38% | 61,579 | $2.3M | Reduce -3.1% |
| ACN Accenture PLC Class A | 0.38% | 6,726 | $2.3M | Reduce -1.7% |
| BSCV Invesco Bulletshares 2031 CB | 0.38% | 144,379 | $2.3M | Add +49.4% |
| VLO Valero Energy Corp. | 0.38% | 13,521 | $2.3M | Reduce -0.4% |
| FIDU Fidelity MSCI Indust Indx | 0.36% | 32,718 | $2.2M | Reduce -1.9% |
| FNCL Fidelity MSCI Financial Indx | 0.35% | 36,700 | $2.2M | Reduce -5.1% |
| MCO Moody's Corp. | 0.35% | 5,507 | $2.2M | Reduce -2.6% |
| IHDG Wisdomtree International Hed | 0.33% | 43,653 | $2.0M | Add +31.0% |
| AMAT Applied Materials Inc. | 0.32% | 9,681 | $2.0M | Reduce -2.6% |
| XHLF Bondbloxx BBG 6 MTH US Treas | 0.32% | 39,500 | $2.0M | Add +24.4% |
| CNRG SS SPDR S&P Kensho CLP ETF | 0.31% | 29,761 | $1.9M | Add +0.7% |
| IBDP iShares Ibonds Dec 2024 Term | 0.31% | 76,389 | $1.9M | No change |
| BMY Bristol-Myers Squibb Co. | 0.31% | 35,135 | $1.9M | Add +0.1% |
| FCOM Fidelity MSCI Comm Serv Indx | 0.31% | 38,268 | $1.9M | Reduce -1.0% |
| VWO Vanguard Ftse Emerging Marke | 0.30% | 44,301 | $1.9M | Reduce -0.8% |
| EFX Equifax Inc. | 0.29% | 6,570 | $1.8M | Reduce -0.3% |
| SPY SS SPDR S&P 500 ETF Trust-US | 0.28% | 3,345 | $1.7M | Reduce -4.7% |
| NKE Nike Inc. Class B | 0.28% | 18,304 | $1.7M | Add +1.6% |
| BSCW Invesco Bulletshares 2032 CB | 0.28% | 84,500 | $1.7M | New |
| ECL Ecolab Inc. | 0.27% | 7,071 | $1.6M | Add +0.1% |
| DPZ Domino's Pizza Inc. | 0.25% | 3,140 | $1.6M | Reduce -0.6% |
| LLY Eli Lilly & Co. | 0.25% | 1,995 | $1.6M | Add +19.1% |
Portfolio Sells Q4 2023 → Q1 2024
| RTX RTX Corp. | Sold out | 0.00% | −0.58 |
| IJR iShares Core S&P Small-Cap E | Reduce -10.0% | 2.06% | −0.41 |
| IJH iShares Core S&P Midcap ETF | Reduce -19.7% | 1.46% | −0.37 |
| SCHM Schwab US Mid Cap ETF | Reduce -16.6% | 0.93% | −0.21 |
| SCHA Schwab US Small-Cap ETF | Reduce -16.4% | 0.63% | −0.17 |
| BLK BlackRock Finance Inc. | Reduce -1.3% | 1.86% | −0.16 |
| SBUX Starbucks Corp. | Reduce -0.7% | 0.67% | −0.11 |
| KVUE Kenvue Inc. | Reduce -3.7% | 0.73% | −0.11 |
| VGT Vanguard Info Tech ETF | Reduce -1.8% | 2.84% | −0.10 |
| MNST Monster Beverage Corp. | Reduce -0.3% | 1.37% | −0.10 |
| AMGN Amgen Inc. | Reduce -0.4% | 0.82% | −0.10 |
| SCHX Schwab US Large-Cap ETF | Reduce -8.6% | 0.96% | −0.09 |
| BSCO Invesco Bulletshares 2024 CB | Reduce -0.3% | 0.84% | −0.09 |
| MCHP Microchip Technology Inc. | Reduce -2.6% | 0.60% | −0.08 |
| MCD McDonald's Corp. | Reduce -0.1% | 0.51% | −0.08 |
| LNG Cheniere Energy Inc. | Reduce -0.1% | 0.46% | −0.08 |
| PEP Pepsico Inc. | Reduce -3.2% | 0.64% | −0.07 |
| BAB Invesco Taxable Municipal Bo | Reduce -1.4% | 0.50% | −0.07 |
| SHYF The Shyft Group Inc. | Sold out | 0.00% | −0.07 |
| GWRE Guidewire Software Inc. | Reduce -2.5% | 1.13% | −0.06 |
| V Visa Inc. Class A | Reduce -3.6% | 0.77% | −0.05 |
| ACN Accenture PLC Class A | Reduce -1.7% | 0.38% | −0.05 |
| LMT Lockheed Martin Corp. | Reduce -0.1% | 0.49% | −0.05 |
| NOW ServiceNow Inc. | Reduce -0.3% | 1.73% | −0.04 |
| MCO Moody's Corp. | Reduce -2.6% | 0.35% | −0.04 |
| CMS CMS Energy Corp. | Reduce -13.2% | 0.19% | −0.04 |
| MDY State Street SPDR S&P Midcap | Reduce -1.4% | 1.98% | −0.04 |
| FTEC Fidelity MSCI Info Tech Indx | Reduce -1.8% | 1.12% | −0.04 |
| XLK SS Technology Select Sector | Reduce -3.4% | 0.68% | −0.04 |
| BA The Boeing Co. | Sold out | 0.00% | −0.04 |
| XLP SS Consumer Staples Sel Sect | Sold out | 0.00% | −0.04 |
| INTC Intel Corp. | Reduce -7.2% | 0.10% | −0.03 |
| FDIS Fidelity MSCI Cons Discr Ind | Reduce -2.1% | 0.43% | −0.03 |
| LQD Ishr Ibx Usd Invgd CB ETF-Ui | Reduce -2.9% | 0.21% | −0.03 |
| SPGI S&P Global Inc. | Reduce -1.4% | 0.20% | −0.03 |
| SCHZ Schwab US Aggregate Bond ETF | Reduce -1.6% | 0.21% | −0.03 |
| XLY SS Consumer Disc Select Sect | Reduce -4.4% | 0.24% | −0.03 |
| VWO Vanguard Ftse Emerging Marke | Reduce -0.8% | 0.30% | −0.03 |
| SPMB SS SPDR P Mort Back Bond ETF | Reduce -0.3% | 0.22% | −0.03 |
| FHLC Fidelity MSCI Health Care | Reduce -1.3% | 0.64% | −0.02 |
| VTI VG Morningstar TS MKT ETF-US | Reduce -3.7% | 0.42% | −0.02 |
| FNCL Fidelity MSCI Financial Indx | Reduce -5.1% | 0.35% | −0.02 |
| FMAT Fidelity MSCI Materials Indx | Reduce -6.2% | 0.16% | −0.02 |
| SPY SS SPDR S&P 500 ETF Trust-US | Reduce -4.7% | 0.28% | −0.01 |
| KO The Coca-Cola Co. | Reduce -0.8% | 0.17% | −0.01 |
| CMA Comerica Inc. | Reduce -4.4% | 0.07% | −0.01 |
| HD Home Depot Inc. | Reduce -1.3% | 1.09% | −0.01 |
| VB Vanguard Most SM-Cap ETF-Usd | Reduce -3.8% | 0.15% | −0.01 |
| MMM 3M Co. | Reduce -0.5% | 0.08% | −0.01 |
| CME Cme Group Inc. | Reduce -0.3% | 0.13% | −0.01 |
Portfolio Buys Q4 2023 → Q1 2024
| UNITED TECH CORP | New | 0.69% | +0.69 |
| SPMD SS SPDR P S&P 400 Midcap ETF | Add +805.3% | 0.74% | +0.65 |
| SPSM SS SPDR P S&P 600 Small Cap | Add +810.5% | 0.48% | +0.42 |
| AMZN Amazon.com Inc. | Add +2.3% | 3.19% | +0.29 |
| BSCW Invesco Bulletshares 2032 CB | New | 0.28% | +0.28 |
| VEEV Veeva Systems Inc. Class A | Add +14.4% | 1.10% | +0.22 |
| BRK.B Berkshire Hathaway Inc. Class B | Add +1.4% | 2.73% | +0.21 |
| IBTO iShares Ibonds Dec 2033 Tres | New | 0.19% | +0.19 |
| BSCU Invesco Bulletshares 2030 CB | Add +281.1% | 0.21% | +0.15 |
| MRK Merck & Co. Inc. | Add +0.3% | 1.33% | +0.12 |
| ZBH Zimmer Biomet Holdings Inc. | Add +24.4% | 0.61% | +0.11 |
| MSFT Microsoft Corp. | Add +0.6% | 5.08% | +0.10 |
| CTVA Corteva Inc. | Add +11.3% | 0.56% | +0.10 |
| BSCT Invesco Bulletshares 2029 CB | Add +38.8% | 0.50% | +0.10 |
| BSCV Invesco Bulletshares 2031 CB | Add +49.4% | 0.38% | +0.09 |
| HEFA Isha Curr Hedged MSCI Eafe | Add +5.1% | 1.65% | +0.09 |
| VTEB Vanguard Tax-Exempt Bond ETF | Add +125.5% | 0.16% | +0.08 |
| BSCX Invesco Bulletshares 2033 CB | New | 0.08% | +0.08 |
| ADSK Autodesk Inc. | New | 0.08% | +0.08 |
| LLY Eli Lilly & Co. | Add +19.1% | 0.25% | +0.08 |
| IHDG Wisdomtree International Hed | Add +31.0% | 0.33% | +0.08 |
| JNJ Johnson & Johnson | Add +32.2% | 0.41% | +0.07 |
| MUB iShares National Muni Bond E | Add +101.8% | 0.16% | +0.07 |
| XONE Bondbloxx BBG 1 Dur US Treas | Add +56.0% | 0.24% | +0.07 |
| EMR Emerson Electric Co. | Add +0.1% | 1.26% | +0.07 |
| BSCS Invesco Bulletshares 2028 CB | Add +29.0% | 0.46% | +0.06 |
| SPTM SS SPDR P S&P 1500 Comp ETF | Add +8.7% | 0.72% | +0.05 |
| IBHE iShares Ibonds 2025 H/Y Inc. | New | 0.04% | +0.04 |
| DDLS Wisdmtre DY Int Smlcap Ef-US | Add +32.0% | 0.20% | +0.04 |
| IVW iShares S&P 500 Growth ETF | New | 0.04% | +0.04 |
| XHLF Bondbloxx BBG 6 MTH US Treas | Add +24.4% | 0.32% | +0.04 |
| MA Mastercard Inc. Class A | New | 0.04% | +0.04 |
| HON Honeywell International Inc. | Add +19.1% | 0.69% | +0.04 |
| WM Waste Management Inc. | New | 0.03% | +0.03 |
| IWF iShares Russell 1000 Growth | New | 0.03% | +0.03 |
| IWM iShares Russell 2000 ETF | New | 0.03% | +0.03 |
| ASML ASML Holding NV-NY Reg SHS | Add +0.5% | 0.23% | +0.03 |
| VFH Vanguard Financials ETF | Add +1.4% | 1.57% | +0.03 |
| IBDS Ishrs Ibnds Dec 27 Corp. ETF | Add +44.3% | 0.11% | +0.03 |
| COST Costco Wholesale Corp. | Add +10.8% | 0.25% | +0.03 |
| DGRE Wisdomtree Emerging Markets | Add +56.6% | 0.07% | +0.02 |
| IBDR iShares Ibonds Dec 2026 Term | Add +31.1% | 0.14% | +0.02 |
| DGS Wisdomtree Em Small Cap | Add +63.8% | 0.06% | +0.02 |
| ECL Ecolab Inc. | Add +0.1% | 0.27% | +0.01 |
| MAS Masco Corp. | Add +0.3% | 0.19% | +0.01 |
| IBDQ iShares Ibonds Dec 2025 Term | Add +17.3% | 0.20% | +0.01 |
| VIS Vanguard Industrials ETF | Add +0.8% | 0.98% | +0.01 |
| ORCL Oracle Corp. | Add +6.1% | 0.09% | +0.01 |
| SCHB Schwab US Broad Market ETF | Add +7.6% | 0.16% | +0.01 |
| FTNT Fortinet Inc. | Add +0.7% | 0.16% | +0.01 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2025 | 206 | $670.0M | MSFT, VGT, AMZN, GOOGL, DDWM |
| Q1 2025 | 207 | $616.7M | MSFT, VGT, AMZN, GOOGL, BRK.B |
| Q4 2024 | 211 | $629.6M | MSFT, GOOGL, AMZN, VGT, DDWM |
| Q3 2024 | 194 | $628.0M | MSFT, VGT, GOOGL, AMZN, BRK.B |
| Q2 2024 | 193 | $613.9M | MSFT, GOOGL, AMZN, VGT, DDWM |
| Q1 2024 | 188 | $614.6M | MSFT, AMZN, GOOGL, VGT, BRK.B |