Exchange Capital Management, Inc.
In its 13F for Q2 2024 (holdings as of June 30, 2024, filed July 23, 2024), Exchange Capital Management, Inc. reported 193 stock positions worth $613.9 million. Its top holding was Microsoft (MSFT) at 5.3% of the portfolio, followed by Alphabet Class A (GOOGL, 3.6%) and Amazon.com (AMZN, 3.3%). Compared with Q1 2024, it opened 11 new positions, sold out of 6, added to 49 and reduced 118. The biggest buy was a new position in RTX (RTX) and the biggest sale an exit from United Tech.
- Most Recent 13F
- Q2 2025
- Location
- Ann Arbor, MI
- CIK
- 0001317733
- Portfolio Value
- $613.9M (Q2 2024)
- SEC Filing
- 0001104659-24-081772 ↗ filed Jul 23, 2024
Holdings Value
Holdings 193 stocks · $613.9M
| MSFT Microsoft Corp. | 5.30% | 72,733 | $32.5M | Reduce -1.9% |
| GOOGL Alphabet Inc. Class A | 3.65% | 123,013 | $22.4M | Reduce -4.2% |
| AMZN Amazon.com Inc. | 3.33% | 105,635 | $20.4M | Reduce -2.8% |
| VGT Vanguard Info Tech ETF | 3.27% | 34,827 | $20.1M | Add +4.8% |
| DDWM Wisdomtree DY Inter Eq FD-US | 2.63% | 474,205 | $16.2M | Reduce -1.3% |
| BRK.B Berkshire Hathaway Inc. Class B | 2.54% | 38,382 | $15.6M | Reduce -3.9% |
| KLAC KLA Corp. | 2.21% | 16,424 | $13.5M | Reduce -6.6% |
| IJR iShares Core S&P Small-Cap E | 1.84% | 105,854 | $11.3M | Reduce -7.4% |
| MDY State Street SPDR S&P Midcap | 1.81% | 20,769 | $11.1M | Reduce -4.9% |
| CRM Salesforce Inc. | 1.81% | 43,191 | $11.1M | Reduce -4.2% |
| NOW ServiceNow Inc. | 1.75% | 13,618 | $10.7M | Reduce -2.3% |
| BLK BlackRock Finance Inc. | 1.72% | 13,392 | $10.5M | Reduce -2.3% |
| HEFA Isha Curr Hedged MSCI Eafe | 1.71% | 294,632 | $10.5M | Add +1.3% |
| VFH Vanguard Financials ETF | 1.60% | 98,320 | $9.8M | Add +4.5% |
| AGG iShares Core U.S. Aggregate | 1.30% | 81,955 | $8.0M | Reduce -2.3% |
| VHT Vanguard Health Care ETF | 1.26% | 29,046 | $7.7M | Add +5.7% |
| VCR Vanguard Consumer Discre ETF | 1.25% | 24,599 | $7.7M | Add +2.7% |
| GWRE Guidewire Software Inc. | 1.23% | 54,900 | $7.6M | Reduce -7.4% |
| EMR Emerson Electric Co. | 1.23% | 68,627 | $7.6M | Add +0.2% |
| FTEC Fidelity MSCI Info Tech Indx | 1.23% | 43,888 | $7.5M | Reduce -1.1% |
| IJH iShares Core S&P Midcap ETF | 1.23% | 128,628 | $7.5M | Reduce -12.7% |
| MRK Merck & Co. Inc. | 1.20% | 59,591 | $7.4M | Reduce -3.7% |
| VOX Vanguard Communication Servi | 1.20% | 53,335 | $7.4M | Add +0.9% |
| JPM JPMorgan Chase & Co. | 1.19% | 36,138 | $7.3M | Reduce -1.0% |
| VIS Vanguard Industrials ETF | 1.03% | 26,793 | $6.3M | Add +8.9% |
| MNST Monster Beverage Corp. | 1.02% | 124,804 | $6.2M | Reduce -12.0% |
| SPMD SS SPDR P S&P 400 Midcap ETF | 1.01% | 121,457 | $6.2M | Add +43.0% |
| CMCSA Comcast Corp. Class A | 0.96% | 150,183 | $5.9M | Reduce -1.7% |
| AAPL Apple Inc. | 0.95% | 27,752 | $5.8M | Reduce -5.5% |
| SCHX Schwab US Large-Cap ETF | 0.93% | 88,514 | $5.7M | Reduce -6.9% |
| HD Home Depot Inc. | 0.91% | 16,242 | $5.6M | Reduce -6.7% |
| AMGN Amgen Inc. | 0.88% | 17,225 | $5.4M | Reduce -3.1% |
| ADBE Adobe Inc. | 0.87% | 9,649 | $5.4M | Reduce -1.3% |
| VEEV Veeva Systems Inc. Class A | 0.84% | 28,294 | $5.2M | Reduce -3.1% |
| PG The Procter & Gamble Co. | 0.80% | 29,943 | $4.9M | Reduce -1.2% |
| SPTM SS SPDR P S&P 1500 Comp ETF | 0.80% | 74,331 | $4.9M | Add +7.1% |
| BSCO Invesco Bulletshares 2024 CB | 0.80% | 234,181 | $4.9M | Reduce -4.5% |
| SCHM Schwab US Mid Cap ETF | 0.78% | 61,315 | $4.8M | Reduce -13.0% |
| VAW Vanguard Materials ETF | 0.77% | 24,503 | $4.7M | Reduce -0.8% |
| BIIB Biogen Inc. | 0.76% | 20,139 | $4.7M | Reduce -1.0% |
| HON Honeywell International Inc. | 0.73% | 21,122 | $4.5M | Add +2.3% |
| BSCP Invesco Bulletshares 2025 CB | 0.71% | 214,496 | $4.4M | Reduce -1.2% |
| RTX RTX Corp. | 0.70% | 42,910 | $4.3M | New |
| XLK SS Technology Select Sector | 0.69% | 18,647 | $4.2M | Reduce -6.7% |
| SPSM SS SPDR P S&P 600 Small Cap | 0.67% | 98,664 | $4.1M | Add +44.6% |
| V Visa Inc. Class A | 0.66% | 15,514 | $4.1M | Reduce -8.5% |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 0.65% | 40,430 | $4.0M | Reduce -5.0% |
| XOM Exxon Mobil Corp. | 0.65% | 34,831 | $4.0M | Reduce -1.4% |
| FHLC Fidelity MSCI Health Care | 0.62% | 55,355 | $3.8M | Reduce -1.8% |
| KVUE Kenvue Inc. | 0.60% | 203,669 | $3.7M | Reduce -2.1% |
| PEP Pepsico Inc. | 0.59% | 21,977 | $3.6M | Reduce -2.5% |
| IEMG iShares Core MSCI Emerging | 0.58% | 67,062 | $3.6M | Add +0.9% |
| MCHP Microchip Technology Inc. | 0.58% | 38,587 | $3.5M | Reduce -6.8% |
| VPU Vanguard Utilities ETF | 0.57% | 23,462 | $3.5M | Add +19.8% |
| BSCT Invesco Bulletshares 2029 CB | 0.56% | 189,937 | $3.4M | Add +12.6% |
| SBUX Starbucks Corp. | 0.56% | 44,021 | $3.4M | Reduce -2.6% |
| VDC Vanguard Consumer Staple ETF | 0.53% | 16,140 | $3.3M | Add +10.0% |
| LMT Lockheed Martin Corp. | 0.53% | 7,001 | $3.3M | Add +6.5% |
| LRCX Lam Research Corp. | 0.53% | 3,068 | $3.3M | Reduce -4.1% |
| USB US Bancorp | 0.53% | 81,486 | $3.2M | Reduce -0.9% |
| GD General Dynamics Corp. | 0.53% | 11,122 | $3.2M | Reduce -0.8% |
| SCHA Schwab US Small-Cap ETF | 0.52% | 67,845 | $3.2M | Reduce -13.7% |
| CTVA Corteva Inc. | 0.51% | 57,839 | $3.1M | Reduce -2.4% |
| BSCS Invesco Bulletshares 2028 CB | 0.50% | 154,193 | $3.1M | Add +10.0% |
| LNG Cheniere Energy Inc. | 0.50% | 17,420 | $3.0M | Reduce -0.8% |
| ZBH Zimmer Biomet Holdings Inc. | 0.50% | 28,029 | $3.0M | Reduce -1.9% |
| BSCQ Invesco Bulletshares 2026 CB | 0.48% | 154,288 | $3.0M | Reduce -0.3% |
| MDT Medtronic PLC | 0.47% | 36,355 | $2.9M | Add +3.1% |
| BSCV Invesco Bulletshares 2031 CB | 0.45% | 174,313 | $2.8M | Add +20.7% |
| MCD McDonald's Corp. | 0.45% | 10,757 | $2.7M | Reduce -3.1% |
| VTI VG Morningstar TS MKT ETF-US | 0.44% | 10,108 | $2.7M | Add +1.6% |
| BSCX Invesco Bulletshares 2033 CB | 0.43% | 129,535 | $2.7M | Add +443.7% |
| BSCR Invesco Bulletshares 2027 CB | 0.43% | 136,123 | $2.6M | Add +0.3% |
| BAB Invesco Taxable Municipal Bo | 0.42% | 98,869 | $2.6M | Reduce -13.9% |
| LOW Lowe's Cos Inc. | 0.42% | 11,627 | $2.6M | Reduce -4.5% |
| FDIS Fidelity MSCI Cons Discr Ind | 0.41% | 31,349 | $2.5M | Reduce -2.6% |
| GILD Gilead Sciences Inc. | 0.41% | 36,812 | $2.5M | Reduce -1.7% |
| SUB iShares Short-Term National | 0.41% | 24,144 | $2.5M | Reduce -22.2% |
| JNJ Johnson & Johnson | 0.40% | 16,677 | $2.4M | Add +3.9% |
| BSCW Invesco Bulletshares 2032 CB | 0.40% | 121,395 | $2.4M | Add +43.7% |
| IVV iShares Core S&P 500 ETF | 0.39% | 4,390 | $2.4M | Reduce -7.3% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.38% | 58,312 | $2.3M | Reduce -5.3% |
| MCO Moody's Corp. | 0.37% | 5,344 | $2.2M | Reduce -3.0% |
| XHLF Bondbloxx BBG 6 MTH US Treas | 0.36% | 44,388 | $2.2M | Add +12.4% |
| AMAT Applied Materials Inc. | 0.35% | 9,219 | $2.2M | Reduce -4.8% |
| IHDG Wisdomtree International Hed | 0.35% | 47,188 | $2.2M | Add +8.1% |
| FIDU Fidelity MSCI Indust Indx | 0.34% | 32,178 | $2.1M | Reduce -1.6% |
| FNCL Fidelity MSCI Financial Indx | 0.34% | 35,699 | $2.1M | Reduce -2.7% |
| VLO Valero Energy Corp. | 0.33% | 13,060 | $2.0M | Reduce -3.4% |
| ACN Accenture PLC Class A | 0.33% | 6,698 | $2.0M | Reduce -0.4% |
| BSCU Invesco Bulletshares 2030 CB | 0.33% | 124,862 | $2.0M | Add +55.2% |
| FCOM Fidelity MSCI Comm Serv Indx | 0.31% | 36,657 | $1.9M | Reduce -4.2% |
| IBDP iShares Ibonds Dec 2024 Term | 0.31% | 75,973 | $1.9M | Reduce -0.5% |
| COST Costco Wholesale Corp. | 0.31% | 2,223 | $1.9M | Add +7.9% |
| VWO Vanguard Ftse Emerging Marke | 0.30% | 42,747 | $1.9M | Reduce -3.5% |
| CNRG SS SPDR S&P Kensho CLP ETF | 0.30% | 30,495 | $1.8M | Add +2.5% |
| BMY Bristol-Myers Squibb Co. | 0.30% | 43,919 | $1.8M | Add +25.0% |
| LLY Eli Lilly & Co. | 0.29% | 1,960 | $1.8M | Reduce -1.8% |
| XONE Bondbloxx BBG 1 Dur US Treas | 0.29% | 35,715 | $1.8M | Add +21.3% |
| SPY SS SPDR S&P 500 ETF Trust-US | 0.29% | 3,221 | $1.8M | Reduce -3.7% |
Portfolio Sells Q1 2024 → Q2 2024
| UNITED TECH CORP | Sold out | 0.00% | −0.69 |
| CRM Salesforce Inc. | Reduce -4.2% | 1.81% | −0.40 |
| MNST Monster Beverage Corp. | Reduce -12.0% | 1.02% | −0.35 |
| VEEV Veeva Systems Inc. Class A | Reduce -3.1% | 0.84% | −0.26 |
| IJH iShares Core S&P Midcap ETF | Reduce -12.7% | 1.23% | −0.23 |
| IJR iShares Core S&P Small-Cap E | Reduce -7.4% | 1.84% | −0.22 |
| DIS The Walt Disney Co. | Reduce -5.0% | 0.65% | −0.19 |
| BRK.B Berkshire Hathaway Inc. Class B | Reduce -3.9% | 2.54% | −0.19 |
| HD Home Depot Inc. | Reduce -6.7% | 0.91% | −0.18 |
| MDY State Street SPDR S&P Midcap | Reduce -4.9% | 1.81% | −0.17 |
| SCHM Schwab US Mid Cap ETF | Reduce -13.0% | 0.78% | −0.16 |
| BLK BlackRock Finance Inc. | Reduce -2.3% | 1.72% | −0.14 |
| MRK Merck & Co. Inc. | Reduce -3.7% | 1.20% | −0.13 |
| KVUE Kenvue Inc. | Reduce -2.1% | 0.60% | −0.12 |
| CMCSA Comcast Corp. Class A | Reduce -1.7% | 0.96% | −0.12 |
| ZBH Zimmer Biomet Holdings Inc. | Reduce -1.9% | 0.50% | −0.12 |
| SUB iShares Short-Term National | Reduce -22.2% | 0.41% | −0.12 |
| SBUX Starbucks Corp. | Reduce -2.6% | 0.56% | −0.11 |
| V Visa Inc. Class A | Reduce -8.5% | 0.66% | −0.11 |
| SCHA Schwab US Small-Cap ETF | Reduce -13.7% | 0.52% | −0.11 |
| LOW Lowe's Cos Inc. | Reduce -4.5% | 0.42% | −0.09 |
| BAB Invesco Taxable Municipal Bo | Reduce -13.9% | 0.42% | −0.07 |
| USB US Bancorp | Reduce -0.9% | 0.53% | −0.07 |
| MCD McDonald's Corp. | Reduce -3.1% | 0.45% | −0.06 |
| NKE Nike Inc. Class B | Reduce -0.2% | 0.22% | −0.06 |
| SHM SS SPDR N Ice St Muni ETF | Sold out | 0.00% | −0.05 |
| VAW Vanguard Materials ETF | Reduce -0.8% | 0.77% | −0.05 |
| PEP Pepsico Inc. | Reduce -2.5% | 0.59% | −0.05 |
| TFI SS SPDR N Ice Muni Bond ETF | Sold out | 0.00% | −0.05 |
| ACN Accenture PLC Class A | Reduce -0.4% | 0.33% | −0.05 |
| CTVA Corteva Inc. | Reduce -2.4% | 0.51% | −0.05 |
| INTC Intel Corp. | Reduce -21.7% | 0.05% | −0.04 |
| DDWM Wisdomtree DY Inter Eq FD-US | Reduce -1.3% | 2.63% | −0.04 |
| VLO Valero Energy Corp. | Reduce -3.4% | 0.33% | −0.04 |
| AGG iShares Core U.S. Aggregate | Reduce -2.3% | 1.30% | −0.04 |
| MAS Masco Corp. | Reduce -4.9% | 0.16% | −0.04 |
| MA Mastercard Inc. Class A | Sold out | 0.00% | −0.04 |
| GILD Gilead Sciences Inc. | Reduce -1.7% | 0.41% | −0.03 |
| WM Waste Management Inc. | Sold out | 0.00% | −0.03 |
| IWM iShares Russell 2000 ETF | Sold out | 0.00% | −0.03 |
| SCHX Schwab US Large-Cap ETF | Reduce -6.9% | 0.93% | −0.03 |
| BSCO Invesco Bulletshares 2024 CB | Reduce -4.5% | 0.80% | −0.03 |
| WDAY Workday Inc. Class A | Reduce -1.5% | 0.14% | −0.03 |
| MCHP Microchip Technology Inc. | Reduce -6.8% | 0.58% | −0.03 |
| EFX Equifax Inc. | Reduce -0.8% | 0.26% | −0.03 |
| CMS CMS Energy Corp. | Reduce -12.4% | 0.16% | −0.03 |
| ETSY Etsy Inc. | Reduce -0.3% | 0.15% | −0.02 |
| CMP Compass Minerals Internation | Reduce -5.2% | 0.04% | −0.02 |
| FHLC Fidelity MSCI Health Care | Reduce -1.8% | 0.62% | −0.02 |
| LQD Ishr Ibx Usd Invgd CB ETF-Ui | Reduce -8.8% | 0.18% | −0.02 |
Portfolio Buys Q1 2024 → Q2 2024
| RTX RTX Corp. | New | 0.70% | +0.70 |
| VGT Vanguard Info Tech ETF | Add +4.8% | 3.27% | +0.43 |
| BSCX Invesco Bulletshares 2033 CB | Add +443.7% | 0.43% | +0.35 |
| SPMD SS SPDR P S&P 400 Midcap ETF | Add +43.0% | 1.01% | +0.28 |
| SPSM SS SPDR P S&P 600 Small Cap | Add +44.6% | 0.67% | +0.19 |
| BSCW Invesco Bulletshares 2032 CB | Add +43.7% | 0.40% | +0.12 |
| BSCU Invesco Bulletshares 2030 CB | Add +55.2% | 0.33% | +0.12 |
| VPU Vanguard Utilities ETF | Add +19.8% | 0.57% | +0.11 |
| IBMN iShares Ibonds Dec 2025 Term | New | 0.09% | +0.09 |
| CLB Core Laboratories Inc. | New | 0.09% | +0.09 |
| SPTM SS SPDR P S&P 1500 Comp ETF | Add +7.1% | 0.80% | +0.08 |
| BSCV Invesco Bulletshares 2031 CB | Add +20.7% | 0.45% | +0.07 |
| VOX Vanguard Communication Servi | Add +0.9% | 1.20% | +0.07 |
| ROP Roper Technologies Inc. | Add +33.6% | 0.25% | +0.06 |
| COST Costco Wholesale Corp. | Add +7.9% | 0.31% | +0.06 |
| BSCT Invesco Bulletshares 2029 CB | Add +12.6% | 0.56% | +0.06 |
| HEFA Isha Curr Hedged MSCI Eafe | Add +1.3% | 1.71% | +0.06 |
| IBMR iShares Ibonds Dec 2029 M BD | New | 0.06% | +0.06 |
| IBMQ iShares Ibonds Dec 2028 Muni | New | 0.05% | +0.05 |
| IBMP iShares Ibonds Dec 2027 Term | New | 0.05% | +0.05 |
| IBMO iShares Ibonds Dec 2026 Term | New | 0.05% | +0.05 |
| SCHW Schwab (charles) Corp. | New | 0.05% | +0.05 |
| XONE Bondbloxx BBG 1 Dur US Treas | Add +21.3% | 0.29% | +0.05 |
| VIS Vanguard Industrials ETF | Add +8.9% | 1.03% | +0.05 |
| VHT Vanguard Health Care ETF | Add +5.7% | 1.26% | +0.05 |
| VDC Vanguard Consumer Staple ETF | Add +10.0% | 0.53% | +0.05 |
| LMT Lockheed Martin Corp. | Add +6.5% | 0.53% | +0.05 |
| GSK GSK PLC-Spon ADR | New | 0.05% | +0.05 |
| HON Honeywell International Inc. | Add +2.3% | 0.73% | +0.05 |
| VUG Vanguard Mrngstar GR ETF-Sui | New | 0.04% | +0.04 |
| BSCS Invesco Bulletshares 2028 CB | Add +10.0% | 0.50% | +0.04 |
| MUB iShares National Muni Bond E | Add +27.8% | 0.20% | +0.04 |
| XHLF Bondbloxx BBG 6 MTH US Treas | Add +12.4% | 0.36% | +0.04 |
| FBTC Fidelity Wise Origin Bitcoin | New | 0.04% | +0.04 |
| GOOG Alphabet Inc. Class C | Add +1.1% | 0.18% | +0.03 |
| VFH Vanguard Financials ETF | Add +4.5% | 1.60% | +0.03 |
| VTEB Vanguard Tax-Exempt Bond ETF | Add +19.4% | 0.19% | +0.03 |
| IEMG iShares Core MSCI Emerging | Add +0.9% | 0.58% | +0.03 |
| IHDG Wisdomtree International Hed | Add +8.1% | 0.35% | +0.02 |
| VTI VG Morningstar TS MKT ETF-US | Add +1.6% | 0.44% | +0.02 |
| DDLS Wisdmtre DY Int Smlcap Ef-US | Add +9.5% | 0.22% | +0.02 |
| DGRE Wisdomtree Emerging Markets | Add +23.4% | 0.09% | +0.02 |
| VCR Vanguard Consumer Discre ETF | Add +2.7% | 1.25% | +0.01 |
| XSOE Wisdmtree Emerg MKT Ex-St Ow | Add +3.1% | 0.17% | +0.01 |
| DGS Wisdomtree Em Small Cap | Add +17.0% | 0.07% | +0.01 |
| ICLN iShares Global Clean Energy | Add +15.6% | 0.07% | +0.01 |
| VOO Vanguard S&P 500 ETF | Add +5.5% | 0.05% | +0.00 |
| IBHE iShares Ibonds 2025 H/Y Inc. | Add +7.0% | 0.04% | +0.00 |
| SCHO Schwab Short-Term US Treas | Add +3.6% | 0.05% | +0.00 |
| FNDA Schwab Fndmntl US SM Co. ETF | Add +4.4% | 0.04% | +0.00 |
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 |