Exchange Capital Management, Inc.
In its 13F for Q3 2024 (holdings as of September 30, 2024, filed November 1, 2024), Exchange Capital Management, Inc. reported 194 stock positions worth $628.0 million. Its top holding was Microsoft (MSFT) at 4.9% of the portfolio, followed by Vanguard Info Tech ETF (VGT, 3.2%) and Alphabet Class A (GOOGL, 3.1%). Compared with Q2 2024, it opened 7 new positions, sold out of 6, added to 52 and reduced 122. The biggest buy was a new position in Lam Research (LRCX) and the biggest sale an exit from Biogen (BIIB).
- Most Recent 13F
- Q2 2025
- Location
- Ann Arbor, MI
- CIK
- 0001317733
- Portfolio Value
- $628.0M (Q3 2024)
- SEC Filing
- 0001104659-24-113302 ↗ filed Nov 1, 2024
Holdings Value
Holdings 194 stocks · $628.0M
| MSFT Microsoft Corp. | 4.86% | 70,880 | $30.5M | Reduce -2.5% |
| VGT Vanguard Info Tech ETF | 3.23% | 34,546 | $20.3M | Reduce -0.8% |
| GOOGL Alphabet Inc. Class A | 3.15% | 119,099 | $19.8M | Reduce -3.2% |
| AMZN Amazon.com Inc. | 3.05% | 102,758 | $19.1M | Reduce -2.7% |
| BRK.B Berkshire Hathaway Inc. Class B | 2.69% | 36,724 | $16.9M | Reduce -4.3% |
| DDWM Wisdomtree DY Inter Eq FD-US | 2.63% | 460,903 | $16.5M | Reduce -2.8% |
| BLK BlackRock Inc. | 1.95% | 12,875 | $12.2M | Reduce -3.9% |
| NOW ServiceNow Inc. | 1.88% | 13,194 | $11.8M | Reduce -3.1% |
| IJR iShares Core S&P Small-Cap E | 1.84% | 99,045 | $11.6M | Reduce -6.4% |
| MDY State Street SPDR S&P Midcap | 1.84% | 20,296 | $11.6M | Reduce -2.3% |
| CRM Salesforce Inc. | 1.79% | 41,130 | $11.3M | Reduce -4.8% |
| HEFA Isha Curr Hedged MSCI Eafe | 1.71% | 303,141 | $10.7M | Add +2.9% |
| VFH Vanguard Financials ETF | 1.71% | 97,527 | $10.7M | Reduce -0.8% |
| KLAC KLA Corp. | 1.66% | 13,442 | $10.4M | Reduce -18.2% |
| GWRE Guidewire Software Inc. | 1.48% | 50,856 | $9.3M | Reduce -7.4% |
| SPMD SS SPDR P S&P 400 Midcap ETF | 1.38% | 158,843 | $8.7M | Add +30.8% |
| VHT Vanguard Health Care ETF | 1.34% | 29,905 | $8.4M | Add +3.0% |
| VCR Vanguard Consumer Discre ETF | 1.33% | 24,526 | $8.4M | Reduce -0.3% |
| VOX Vanguard Communication Servi | 1.20% | 51,836 | $7.5M | Reduce -2.8% |
| AGG iShares Core U.S. Aggregate | 1.19% | 74,072 | $7.5M | Reduce -9.6% |
| VIS Vanguard Industrials ETF | 1.18% | 28,406 | $7.4M | Add +6.0% |
| EMR Emerson Electric Co. | 1.16% | 66,694 | $7.3M | Reduce -2.8% |
| JPM JPMorgan Chase & Co. | 1.15% | 34,170 | $7.2M | Reduce -5.5% |
| FTEC Fidelity MSCI Info Tech Indx | 1.14% | 41,191 | $7.2M | Reduce -6.2% |
| IJH iShares Core S&P Midcap ETF | 1.11% | 112,196 | $7.0M | Reduce -12.8% |
| MRK Merck & Co. Inc. | 1.05% | 57,907 | $6.6M | Reduce -2.8% |
| MNST Monster Beverage Corp. | 1.04% | 124,804 | $6.5M | No change |
| HD Home Depot Inc. | 1.01% | 15,715 | $6.4M | Reduce -3.2% |
| VEEV Veeva Systems Inc. Class A | 1.00% | 29,784 | $6.3M | Add +5.3% |
| AAPL Apple Inc. | 0.98% | 26,441 | $6.2M | Reduce -4.7% |
| CMCSA Comcast Corp. Class A | 0.98% | 146,970 | $6.1M | Reduce -2.1% |
| SPSM SS SPDR P S&P 600 Small Cap | 0.93% | 128,205 | $5.8M | Add +29.9% |
| SPTM SS SPDR P S&P 1500 Comp ETF | 0.88% | 79,305 | $5.6M | Add +6.7% |
| AMGN Amgen Inc. | 0.87% | 16,871 | $5.4M | Reduce -2.1% |
| VAW Vanguard Materials ETF | 0.82% | 24,336 | $5.1M | Reduce -0.7% |
| RTX RTX Corp. | 0.82% | 42,352 | $5.1M | Reduce -1.3% |
| PG The Procter & Gamble Co. | 0.81% | 29,393 | $5.1M | Reduce -1.8% |
| SCHX Schwab US Large-Cap ETF | 0.80% | 73,959 | $5.0M | Reduce -16.4% |
| ADBE Adobe Inc. | 0.77% | 9,315 | $4.8M | Reduce -3.5% |
| BSCO Invesco Bulletshares 2024 CB | 0.76% | 225,562 | $4.8M | Reduce -3.7% |
| VPU Vanguard Utilities ETF | 0.74% | 26,765 | $4.7M | Add +14.1% |
| KVUE Kenvue Inc. | 0.72% | 194,567 | $4.5M | Reduce -4.5% |
| HON Honeywell International Inc. | 0.70% | 21,149 | $4.4M | Add +0.1% |
| BSCP Invesco Bulletshares 2025 CB | 0.68% | 208,069 | $4.3M | Reduce -3.0% |
| SBUX Starbucks Corp. | 0.67% | 43,241 | $4.2M | Reduce -1.8% |
| V Visa Inc. Class A | 0.64% | 14,614 | $4.0M | Reduce -5.8% |
| XOM Exxon Mobil Corp. | 0.64% | 34,112 | $4.0M | Reduce -2.1% |
| LMT Lockheed Martin Corp. | 0.63% | 6,791 | $4.0M | Reduce -3.0% |
| FHLC Fidelity MSCI Health Care | 0.63% | 53,960 | $3.9M | Reduce -2.5% |
| GILD Gilead Sciences Inc. | 0.62% | 46,627 | $3.9M | Add +26.7% |
| IEMG iShares Core MSCI Emerging | 0.62% | 67,373 | $3.9M | Add +0.5% |
| SCHM Schwab US Mid Cap ETF | 0.61% | 46,289 | $3.8M | Reduce -24.5% |
| BSCT Invesco Bulletshares 2029 CB | 0.60% | 199,272 | $3.7M | Add +4.9% |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 0.60% | 38,913 | $3.7M | Reduce -3.8% |
| BSCX Invesco Bulletshares 2033 CB | 0.58% | 169,842 | $3.7M | Add +31.1% |
| XLK SS Technology Select Sector | 0.58% | 16,069 | $3.6M | Reduce -13.8% |
| PEP Pepsico Inc. | 0.58% | 21,283 | $3.6M | Reduce -3.2% |
| VDC Vanguard Consumer Staple ETF | 0.57% | 16,500 | $3.6M | Add +2.2% |
| USB US Bancorp | 0.57% | 78,602 | $3.6M | Reduce -3.5% |
| LNG Cheniere Energy Inc. | 0.53% | 18,526 | $3.3M | Add +6.3% |
| BSCV Invesco Bulletshares 2031 CB | 0.53% | 198,776 | $3.3M | Add +14.0% |
| GD General Dynamics Corp. | 0.53% | 10,944 | $3.3M | Reduce -1.6% |
| CTVA Corteva Inc. | 0.52% | 55,868 | $3.3M | Reduce -3.4% |
| MDT Medtronic PLC | 0.52% | 36,320 | $3.3M | Reduce -0.1% |
| BSCW Invesco Bulletshares 2032 CB | 0.52% | 155,180 | $3.3M | Add +27.8% |
| BSCS Invesco Bulletshares 2028 CB | 0.52% | 157,986 | $3.2M | Add +2.5% |
| MCD McDonald's Corp. | 0.51% | 10,602 | $3.2M | Reduce -1.4% |
| MCHP Microchip Technology Inc. | 0.49% | 38,061 | $3.1M | Reduce -1.4% |
| LOW Lowe's Cos Inc. | 0.48% | 11,201 | $3.0M | Reduce -3.7% |
| ZBH Zimmer Biomet Holdings Inc. | 0.47% | 27,393 | $3.0M | Reduce -2.3% |
| BSCQ Invesco Bulletshares 2026 CB | 0.47% | 150,837 | $3.0M | Reduce -2.2% |
| JNJ Johnson & Johnson | 0.45% | 17,275 | $2.8M | Add +3.6% |
| BSCU Invesco Bulletshares 2030 CB | 0.44% | 163,329 | $2.8M | Add +30.8% |
| VTI VG Morningstar TS MKT ETF-US | 0.44% | 9,702 | $2.7M | Reduce -4.0% |
| FDIS Fidelity MSCI Cons Discr Ind | 0.43% | 30,782 | $2.7M | Reduce -1.8% |
| BSCR Invesco Bulletshares 2027 CB | 0.43% | 136,741 | $2.7M | Add +0.5% |
| SCHA Schwab US Small-Cap ETF | 0.41% | 50,124 | $2.6M | Reduce -26.1% |
| IHDG Wisdomtree International Hed | 0.40% | 55,087 | $2.5M | Add +16.7% |
| MCO Moody's Corp. | 0.38% | 5,055 | $2.4M | Reduce -5.4% |
| LRCX Lam Research Corp. | 0.38% | 2,913 | $2.4M | New |
| ACN Accenture PLC Class A | 0.37% | 6,640 | $2.3M | Reduce -0.9% |
| XHLF Bondbloxx BBG 6 MTH US Treas | 0.36% | 45,265 | $2.3M | Add +2.0% |
| FIDU Fidelity MSCI Indust Indx | 0.36% | 31,544 | $2.3M | Reduce -2.0% |
| FNCL Fidelity MSCI Financial Indx | 0.36% | 35,076 | $2.2M | Reduce -1.8% |
| BMY Bristol-Myers Squibb Co. | 0.35% | 43,002 | $2.2M | Reduce -2.1% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.35% | 55,221 | $2.2M | Reduce -5.3% |
| DDLS Wisdmtre DY Int Smlcap Ef-US | 0.34% | 58,491 | $2.1M | Add +52.1% |
| IVV iShares Core S&P 500 ETF | 0.34% | 3,689 | $2.1M | Reduce -16.0% |
| XONE Bondbloxx BBG 1 Dur US Treas | 0.32% | 40,410 | $2.0M | Add +13.2% |
| IBDP iShares Ibonds Dec 2024 Term | 0.32% | 79,632 | $2.0M | Add +4.8% |
| COST Costco Wholesale Corp. | 0.32% | 2,243 | $2.0M | Add +0.9% |
| VWO Vanguard Ftse Emerging Marke | 0.31% | 40,646 | $1.9M | Reduce -4.9% |
| FCOM Fidelity MSCI Comm Serv Indx | 0.31% | 35,132 | $1.9M | Reduce -4.2% |
| SUB iShares Short-Term National | 0.30% | 17,531 | $1.9M | Reduce -27.4% |
| EFX Equifax Inc. | 0.29% | 6,303 | $1.9M | Reduce -3.3% |
| AMAT Applied Materials Inc. | 0.28% | 8,824 | $1.8M | Reduce -4.3% |
| ECL Ecolab Inc. | 0.28% | 6,953 | $1.8M | Reduce -1.1% |
| SPY SS SPDR S&P 500 ETF Trust-US | 0.28% | 3,093 | $1.8M | Reduce -4.0% |
| BAB Invesco Taxable Municipal Bo | 0.28% | 64,171 | $1.8M | Reduce -35.1% |
| LLY Eli Lilly & Co. | 0.28% | 1,958 | $1.7M | Reduce -0.1% |
Portfolio Sells Q2 2024 → Q3 2024
| BIIB Biogen Inc. | Sold out | 0.00% | −0.76 |
| KLAC KLA Corp. | Reduce -18.2% | 1.66% | −0.55 |
| LRCX Lam Research Corp. | Sold out | 0.00% | −0.53 |
| GOOGL Alphabet Inc. Class A | Reduce -3.2% | 3.15% | −0.50 |
| MSFT Microsoft Corp. | Reduce -2.5% | 4.86% | −0.44 |
| AMZN Amazon.com Inc. | Reduce -2.7% | 3.05% | −0.28 |
| IBTO iShares Ibonds Dec 2033 Tres | Sold out | 0.00% | −0.19 |
| SCHM Schwab US Mid Cap ETF | Reduce -24.5% | 0.61% | −0.16 |
| MRK Merck & Co. Inc. | Reduce -2.8% | 1.05% | −0.15 |
| BAB Invesco Taxable Municipal Bo | Reduce -35.1% | 0.28% | −0.14 |
| SCHX Schwab US Large-Cap ETF | Reduce -16.4% | 0.80% | −0.13 |
| IBHD iShares Ibonds 2024 H/Y Inc. | Reduce -72.1% | 0.04% | −0.12 |
| SUB iShares Short-Term National | Reduce -27.4% | 0.30% | −0.11 |
| SCHA Schwab US Small-Cap ETF | Reduce -26.1% | 0.41% | −0.11 |
| IJH iShares Core S&P Midcap ETF | Reduce -12.8% | 1.11% | −0.11 |
| XLK SS Technology Select Sector | Reduce -13.8% | 0.58% | −0.11 |
| ADBE Adobe Inc. | Reduce -3.5% | 0.77% | −0.11 |
| AGG iShares Core U.S. Aggregate | Reduce -9.6% | 1.19% | −0.10 |
| MCHP Microchip Technology Inc. | Reduce -1.4% | 0.49% | −0.09 |
| ETSY Etsy Inc. | Reduce -54.9% | 0.06% | −0.09 |
| FTEC Fidelity MSCI Info Tech Indx | Reduce -6.2% | 1.14% | −0.08 |
| AMAT Applied Materials Inc. | Reduce -4.3% | 0.28% | −0.07 |
| EMR Emerson Electric Co. | Reduce -2.8% | 1.16% | −0.07 |
| DIS The Walt Disney Co. | Reduce -3.8% | 0.60% | −0.06 |
| VLO Valero Energy Corp. | Reduce -1.7% | 0.28% | −0.06 |
| ASML ASML Holding NV-NY Reg SHS | Reduce -4.9% | 0.17% | −0.06 |
| CNRG SS SPDR S&P Kensho CLP ETF | Reduce -23.4% | 0.24% | −0.06 |
| DPZ Domino's Pizza Inc. | Reduce -4.2% | 0.19% | −0.05 |
| INTC Intel Corp. | Sold out | 0.00% | −0.05 |
| IVV iShares Core S&P 500 ETF | Reduce -16.0% | 0.34% | −0.05 |
| LQD Ishr Ibx Usd Invgd CB ETF-Ui | Reduce -29.0% | 0.13% | −0.05 |
| BSCO Invesco Bulletshares 2024 CB | Reduce -3.7% | 0.76% | −0.04 |
| VGT Vanguard Info Tech ETF | Reduce -0.8% | 3.23% | −0.04 |
| JPM JPMorgan Chase & Co. | Reduce -5.5% | 1.15% | −0.04 |
| VEA Vanguard Ftse Developed ETF | Reduce -47.9% | 0.04% | −0.03 |
| BSCP Invesco Bulletshares 2025 CB | Reduce -3.0% | 0.68% | −0.03 |
| BAC Bank of America Corp. | Reduce -5.3% | 0.35% | −0.03 |
| SPMB SS SPDR P Mort Back Bond ETF | Reduce -15.0% | 0.19% | −0.03 |
| F Ford Motor Co. | Sold out | 0.00% | −0.03 |
| ZBH Zimmer Biomet Holdings Inc. | Reduce -2.3% | 0.47% | −0.02 |
| GOOG Alphabet Inc. Class C | Reduce -2.6% | 0.16% | −0.02 |
| V Visa Inc. Class A | Reduce -5.8% | 0.64% | −0.02 |
| SIRI Sirius XM Holdings Inc. | Sold out | 0.00% | −0.02 |
| SCHB Schwab US Broad Market ETF | Reduce -13.1% | 0.15% | −0.02 |
| XOM Exxon Mobil Corp. | Reduce -2.1% | 0.64% | −0.02 |
| CRM Salesforce Inc. | Reduce -4.8% | 1.79% | −0.02 |
| KBE SS SPDR S&P Bank ETF | Reduce -26.9% | 0.07% | −0.02 |
| PEP Pepsico Inc. | Reduce -3.2% | 0.58% | −0.01 |
| TER Teradyne Inc. | Reduce -4.1% | 0.08% | −0.01 |
| CVX Chevron Corp. | Reduce -4.9% | 0.09% | −0.01 |
Portfolio Buys Q2 2024 → Q3 2024
| LRCX Lam Research Corp. | New | 0.38% | +0.38 |
| SPMD SS SPDR P S&P 400 Midcap ETF | Add +30.8% | 1.38% | +0.37 |
| SPSM SS SPDR P S&P 600 Small Cap | Add +29.9% | 0.93% | +0.26 |
| GILD Gilead Sciences Inc. | Add +26.7% | 0.62% | +0.21 |
| IBDY iShares Ibonds Dec 2033 Corp. | New | 0.20% | +0.20 |
| VPU Vanguard Utilities ETF | Add +14.1% | 0.74% | +0.18 |
| VEEV Veeva Systems Inc. Class A | Add +5.3% | 1.00% | +0.15 |
| VIS Vanguard Industrials ETF | Add +6.0% | 1.18% | +0.15 |
| BSCX Invesco Bulletshares 2033 CB | Add +31.1% | 0.58% | +0.15 |
| DDLS Wisdmtre DY Int Smlcap Ef-US | Add +52.1% | 0.34% | +0.13 |
| BSCW Invesco Bulletshares 2032 CB | Add +27.8% | 0.52% | +0.12 |
| BSCU Invesco Bulletshares 2030 CB | Add +30.8% | 0.44% | +0.11 |
| CLB Core Laboratories Inc. | Add +138.9% | 0.19% | +0.10 |
| VHT Vanguard Health Care ETF | Add +3.0% | 1.34% | +0.09 |
| SPTM SS SPDR P S&P 1500 Comp ETF | Add +6.7% | 0.88% | +0.08 |
| BSCV Invesco Bulletshares 2031 CB | Add +14.0% | 0.53% | +0.07 |
| MKTX Marketaxess Holdings Inc. | New | 0.07% | +0.07 |
| IHDG Wisdomtree International Hed | Add +16.7% | 0.40% | +0.05 |
| JNJ Johnson & Johnson | Add +3.6% | 0.45% | +0.05 |
| FTNT Fortinet Inc. | Add +5.4% | 0.20% | +0.05 |
| VDE Vanguard Energy ETF | New | 0.04% | +0.04 |
| DGRE Wisdomtree Emerging Markets | Add +46.7% | 0.13% | +0.04 |
| MAS Masco Corp. | Add +3.9% | 0.20% | +0.04 |
| VDC Vanguard Consumer Staple ETF | Add +2.2% | 0.57% | +0.04 |
| DGS Wisdomtree Em Small Cap | Add +49.3% | 0.11% | +0.04 |
| MA Mastercard Inc. Class A | New | 0.04% | +0.04 |
| BSCT Invesco Bulletshares 2029 CB | Add +4.9% | 0.60% | +0.04 |
| LNG Cheniere Energy Inc. | Add +6.3% | 0.53% | +0.03 |
| WEC WEC Energy Group Inc. | New | 0.03% | +0.03 |
| XONE Bondbloxx BBG 1 Dur US Treas | Add +13.2% | 0.32% | +0.03 |
| FITB Fifth Third Bancorp | New | 0.03% | +0.03 |
| IEMG iShares Core MSCI Emerging | Add +0.5% | 0.62% | +0.03 |
| XSOE Wisdmtree Emerg MKT Ex-St Ow | Add +11.7% | 0.20% | +0.03 |
| CLX Clorox Company | Add +5.7% | 0.14% | +0.03 |
| UL Unilever PLC | Add +2.5% | 0.17% | +0.03 |
| IBMR iShares Ibonds Dec 2029 M BD | Add +39.0% | 0.08% | +0.02 |
| BSCS Invesco Bulletshares 2028 CB | Add +2.5% | 0.52% | +0.02 |
| IBMO iShares Ibonds Dec 2026 Term | Add +30.3% | 0.07% | +0.02 |
| IBMQ iShares Ibonds Dec 2028 Muni | Add +27.5% | 0.07% | +0.01 |
| WMT Walmart Inc. | Add +4.1% | 0.08% | +0.01 |
| IBHE iShares Ibonds 2025 H/Y Inc. | Add +35.7% | 0.06% | +0.01 |
| ADSK Autodesk Inc. | Add +9.0% | 0.09% | +0.01 |
| ICLN iShares Global Clean Energy | Add +10.2% | 0.09% | +0.01 |
| WDAY Workday Inc. Class A | Add +2.9% | 0.15% | +0.01 |
| VTEB Vanguard Tax-Exempt Bond ETF | Add +6.7% | 0.21% | +0.01 |
| IBMP iShares Ibonds Dec 2027 Term | Add +23.6% | 0.07% | +0.01 |
| CME Cme Group Inc. | Add +0.4% | 0.13% | +0.01 |
| IBDQ iShares Ibonds Dec 2025 Term | Add +7.3% | 0.21% | +0.01 |
| VOO Vanguard S&P 500 ETF | Add +18.9% | 0.06% | +0.01 |
| COST Costco Wholesale Corp. | Add +0.9% | 0.32% | +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 |