Exchange Capital Management, Inc.
In its 13F for Q4 2024 (holdings as of December 31, 2024, filed February 4, 2025), Exchange Capital Management, Inc. reported 211 stock positions worth $629.6 million. Its top holding was Microsoft (MSFT) at 4.8% of the portfolio, followed by Alphabet Class A (GOOGL, 3.6%) and Amazon.com (AMZN, 3.5%). Compared with Q3 2024, it opened 25 new positions, sold out of 8, added to 62 and reduced 108. The biggest buy was a new position in BBLX BBB 1-5Y Corp. Bond ETF (BBBS) and the biggest sale an exit from Invesco Bulletshares 2024 CB (BSCO).
- Most Recent 13F
- Q2 2025
- Location
- Ann Arbor, MI
- CIK
- 0001317733
- Portfolio Value
- $629.6M (Q4 2024)
- SEC Filing
- 0001104659-25-009082 ↗ filed Feb 4, 2025
Holdings Value
Holdings 211 stocks · $629.6M
| MSFT Microsoft Corp. | 4.81% | 71,899 | $30.3M | Add +1.4% |
| GOOGL Alphabet Inc. Class A | 3.59% | 119,299 | $22.6M | Add +0.2% |
| AMZN Amazon.com Inc. | 3.51% | 100,626 | $22.1M | Reduce -2.1% |
| VGT Vanguard Info Tech ETF | 3.48% | 35,233 | $21.9M | Add +2.0% |
| DDWM Wisdomtree DY Inter Eq FD-US | 2.49% | 456,151 | $15.7M | Reduce -1.0% |
| BRK.B Berkshire Hathaway Inc. Class B | 2.28% | 31,609 | $14.3M | Reduce -13.9% |
| CRM Salesforce Inc. | 2.15% | 40,567 | $13.6M | Reduce -1.4% |
| BLK BlackRock Inc. | 2.06% | 12,636 | $13.0M | Reduce -1.9% |
| NOW ServiceNow Inc. | 1.96% | 11,651 | $12.4M | Reduce -11.7% |
| VFH Vanguard Financials ETF | 1.84% | 97,960 | $11.6M | Add +0.4% |
| MDY State Street SPDR S&P Midcap | 1.83% | 20,265 | $11.5M | Reduce -0.1% |
| IJR iShares Core S&P Small-Cap E | 1.73% | 94,387 | $10.9M | Reduce -4.7% |
| HEFA Isha Curr Hedged MSCI Eafe | 1.69% | 305,939 | $10.6M | Add +0.9% |
| SPMD SS SPDR P S&P 400 Midcap ETF | 1.64% | 188,370 | $10.3M | Add +18.6% |
| VCR Vanguard Consumer Discre ETF | 1.47% | 24,723 | $9.3M | Add +0.8% |
| VHT Vanguard Health Care ETF | 1.43% | 35,611 | $9.0M | Add +19.1% |
| KLAC KLA Corp. | 1.32% | 13,238 | $8.3M | Reduce -1.5% |
| AAPL Apple Inc. | 1.31% | 33,033 | $8.3M | Add +24.9% |
| JPM JPMorgan Chase & Co. | 1.30% | 34,112 | $8.2M | Reduce -0.2% |
| VIS Vanguard Industrials ETF | 1.29% | 31,898 | $8.1M | Add +12.3% |
| EMR Emerson Electric Co. | 1.28% | 65,119 | $8.1M | Reduce -2.4% |
| VOX Vanguard Communication Servi | 1.25% | 50,730 | $7.9M | Reduce -2.1% |
| GWRE Guidewire Software Inc. | 1.14% | 42,444 | $7.2M | Reduce -16.5% |
| FTEC Fidelity MSCI Info Tech Indx | 1.11% | 37,775 | $7.0M | Reduce -8.3% |
| SPSM SS SPDR P S&P 600 Small Cap | 1.09% | 153,323 | $6.9M | Add +19.6% |
| MNST Monster Beverage Corp. | 1.04% | 124,804 | $6.6M | No change |
| AGG iShares Core U.S. Aggregate | 1.03% | 66,923 | $6.5M | Reduce -9.7% |
| VEEV Veeva Systems Inc. Class A | 0.99% | 29,664 | $6.2M | Reduce -0.4% |
| IJH iShares Core S&P Midcap ETF | 0.98% | 98,694 | $6.1M | Reduce -12.0% |
| SPTM SS SPDR P S&P 1500 Comp ETF | 0.95% | 83,394 | $6.0M | Add +5.2% |
| HD Home Depot Inc. | 0.92% | 14,959 | $5.8M | Reduce -4.8% |
| MRK Merck & Co. Inc. | 0.91% | 57,630 | $5.7M | Reduce -0.5% |
| HON Honeywell International Inc. | 0.82% | 22,822 | $5.2M | Add +7.9% |
| RTX RTX Corp. | 0.81% | 44,175 | $5.1M | Add +4.3% |
| PG The Procter & Gamble Co. | 0.78% | 29,179 | $4.9M | Reduce -0.7% |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 0.76% | 43,131 | $4.8M | Add +10.8% |
| VPU Vanguard Utilities ETF | 0.74% | 28,362 | $4.6M | Add +6.0% |
| VAW Vanguard Materials ETF | 0.73% | 24,382 | $4.6M | Add +0.2% |
| SCHX Schwab US Large-Cap ETF | 0.73% | 197,341 | $4.6M | Reduce -11.1% |
| V Visa Inc. Class A | 0.72% | 14,333 | $4.5M | Reduce -1.9% |
| CMCSA Comcast Corp. Class A | 0.70% | 117,880 | $4.4M | Reduce -19.8% |
| AMGN Amgen Inc. | 0.70% | 16,925 | $4.4M | Add +0.3% |
| GILD Gilead Sciences Inc. | 0.68% | 46,333 | $4.3M | Reduce -0.6% |
| ADBE Adobe Inc. | 0.66% | 9,357 | $4.2M | Add +0.5% |
| KVUE Kenvue Inc. | 0.65% | 192,770 | $4.1M | Reduce -0.9% |
| LNG Cheniere Energy Inc. | 0.63% | 18,588 | $4.0M | Add +0.3% |
| SBUX Starbucks Corp. | 0.62% | 42,450 | $3.9M | Reduce -1.8% |
| VDC Vanguard Consumer Staple ETF | 0.59% | 17,461 | $3.7M | Add +5.8% |
| USB US Bancorp | 0.58% | 76,804 | $3.7M | Reduce -2.3% |
| XLK SS Technology Select Sector | 0.58% | 15,669 | $3.6M | Reduce -2.5% |
| XOM Exxon Mobil Corp. | 0.57% | 33,131 | $3.6M | Reduce -2.9% |
| IEMG iShares Core MSCI Emerging | 0.57% | 68,129 | $3.6M | Add +1.1% |
| FHLC Fidelity MSCI Health Care | 0.56% | 53,545 | $3.5M | Reduce -0.8% |
| BSCX Invesco Bulletshares 2033 CB | 0.55% | 166,792 | $3.4M | Reduce -1.8% |
| PEP Pepsico Inc. | 0.53% | 21,888 | $3.3M | Add +2.8% |
| LMT Lockheed Martin Corp. | 0.51% | 6,661 | $3.2M | Reduce -1.9% |
| SCHM Schwab US Mid Cap ETF | 0.51% | 115,813 | $3.2M | Reduce -16.6% |
| CTVA Corteva Inc. | 0.51% | 56,337 | $3.2M | Add +0.8% |
| BSCT Invesco Bulletshares 2029 CB | 0.51% | 173,852 | $3.2M | Reduce -12.8% |
| BBBS BBLX BBB 1-5Y Corp. Bond ETF | 0.51% | 63,000 | $3.2M | New |
| BSCV Invesco Bulletshares 2031 CB | 0.50% | 195,360 | $3.1M | Reduce -1.7% |
| MCD McDonald's Corp. | 0.50% | 10,753 | $3.1M | Add +1.4% |
| BMY Bristol-Myers Squibb Co. | 0.49% | 54,533 | $3.1M | Add +26.8% |
| BSCW Invesco Bulletshares 2032 CB | 0.49% | 152,747 | $3.1M | Reduce -1.6% |
| MDT Medtronic PLC | 0.48% | 37,679 | $3.0M | Add +3.7% |
| BSCP Invesco Bulletshares 2025 CB | 0.46% | 141,015 | $2.9M | Reduce -32.2% |
| FDIS Fidelity MSCI Cons Discr Ind | 0.46% | 29,648 | $2.9M | Reduce -3.7% |
| BSCQ Invesco Bulletshares 2026 CB | 0.46% | 148,435 | $2.9M | Reduce -1.6% |
| ZBH Zimmer Biomet Holdings Inc. | 0.46% | 27,202 | $2.9M | Reduce -0.7% |
| GD General Dynamics Corp. | 0.46% | 10,890 | $2.9M | Reduce -0.5% |
| JNJ Johnson & Johnson | 0.45% | 19,693 | $2.8M | Add +14.0% |
| BSCS Invesco Bulletshares 2028 CB | 0.44% | 137,188 | $2.8M | Reduce -13.2% |
| VTI VG Morningstar TS MKT ETF-US | 0.43% | 9,440 | $2.7M | Reduce -2.7% |
| IHDG Wisdomtree International Hed | 0.43% | 61,937 | $2.7M | Add +12.4% |
| LOW Lowe's Cos Inc. | 0.42% | 10,817 | $2.7M | Reduce -3.4% |
| XONE Bondbloxx BBG 1 Dur US Treas | 0.42% | 53,642 | $2.7M | Add +32.7% |
| BSCU Invesco Bulletshares 2030 CB | 0.42% | 161,377 | $2.6M | Reduce -1.2% |
| BSCR Invesco Bulletshares 2027 CB | 0.41% | 133,762 | $2.6M | Reduce -2.2% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.38% | 53,925 | $2.4M | Reduce -2.4% |
| FNCL Fidelity MSCI Financial Indx | 0.37% | 33,997 | $2.3M | Reduce -3.1% |
| XTWO Bondbloxx BBG 2Y US TSY ETF | 0.37% | 47,567 | $2.3M | New |
| ACN Accenture PLC Class A | 0.37% | 6,626 | $2.3M | Reduce -0.2% |
| MCO Moody's Corp. | 0.37% | 4,888 | $2.3M | Reduce -3.3% |
| COST Costco Wholesale Corp. | 0.36% | 2,465 | $2.3M | Add +9.9% |
| FIDU Fidelity MSCI Indust Indx | 0.35% | 31,164 | $2.2M | Reduce -1.2% |
| DDLS Wisdmtre DY Int Smlcap Ef-US | 0.35% | 62,186 | $2.2M | Add +6.3% |
| MCHP Microchip Technology Inc. | 0.34% | 37,541 | $2.2M | Reduce -1.4% |
| IVV iShares Core S&P 500 ETF | 0.34% | 3,620 | $2.1M | Reduce -1.9% |
| SCHA Schwab US Small-Cap ETF | 0.34% | 81,789 | $2.1M | Reduce -18.4% |
| LRCX Lam Research Corp. | 0.33% | 29,076 | $2.1M | Reduce -0.2% |
| GOOG Alphabet Inc. Class C | 0.33% | 10,816 | $2.1M | Add +80.2% |
| FCOM Fidelity MSCI Comm Serv Indx | 0.32% | 34,089 | $2.0M | Reduce -3.0% |
| VWO Vanguard Ftse Emerging Marke | 0.30% | 42,726 | $1.9M | Add +5.1% |
| SPY SS SPDR S&P 500 ETF Trust-US | 0.28% | 3,028 | $1.8M | Reduce -2.1% |
| EFX Equifax Inc. | 0.26% | 6,515 | $1.7M | Add +3.4% |
| ECL Ecolab Inc. | 0.26% | 6,978 | $1.6M | Add +0.4% |
| VLO Valero Energy Corp. | 0.25% | 12,835 | $1.6M | No change |
| XHLF Bondbloxx BBG 6 MTH US Treas | 0.25% | 31,339 | $1.6M | Reduce -30.8% |
| CNRG SS SPDR S&P Kensho CLP ETF | 0.24% | 25,120 | $1.5M | Add +7.5% |
| LLY Eli Lilly & Co. | 0.24% | 1,951 | $1.5M | Reduce -0.4% |
Portfolio Sells Q3 2024 → Q4 2024
| BSCO Invesco Bulletshares 2024 CB | Sold out | 0.00% | −0.76 |
| BRK.B Berkshire Hathaway Inc. Class B | Reduce -13.9% | 2.28% | −0.42 |
| GWRE Guidewire Software Inc. | Reduce -16.5% | 1.14% | −0.34 |
| KLAC KLA Corp. | Reduce -1.5% | 1.32% | −0.33 |
| IBDP iShares Ibonds Dec 2024 Term | Sold out | 0.00% | −0.32 |
| CMCSA Comcast Corp. Class A | Reduce -19.8% | 0.70% | −0.27 |
| BSCP Invesco Bulletshares 2025 CB | Reduce -32.2% | 0.46% | −0.22 |
| BAB Invesco Taxable Municipal Bo | Reduce -76.4% | 0.06% | −0.22 |
| IBDY iShares Ibonds Dec 2033 Corp. | Sold out | 0.00% | −0.20 |
| AGG iShares Core U.S. Aggregate | Reduce -9.7% | 1.03% | −0.16 |
| MCHP Microchip Technology Inc. | Reduce -1.4% | 0.34% | −0.14 |
| DDWM Wisdomtree DY Inter Eq FD-US | Reduce -1.0% | 2.49% | −0.14 |
| IJH iShares Core S&P Midcap ETF | Reduce -12.0% | 0.98% | −0.14 |
| MRK Merck & Co. Inc. | Reduce -0.5% | 0.91% | −0.14 |
| NKE Nike Inc. Class B | Reduce -40.2% | 0.13% | −0.13 |
| SCHZ Schwab US Aggregate Bond ETF | Reduce -61.7% | 0.07% | −0.12 |
| LMT Lockheed Martin Corp. | Reduce -1.9% | 0.51% | −0.12 |
| IJR iShares Core S&P Small-Cap E | Reduce -4.7% | 1.73% | −0.12 |
| XHLF Bondbloxx BBG 6 MTH US Treas | Reduce -30.8% | 0.25% | −0.11 |
| IBDR iShares Ibonds Dec 2026 Term | Reduce -75.4% | 0.03% | −0.10 |
| SCHM Schwab US Mid Cap ETF | Reduce -16.6% | 0.51% | −0.10 |
| BSCT Invesco Bulletshares 2029 CB | Reduce -12.8% | 0.51% | −0.09 |
| SUB iShares Short-Term National | Reduce -29.8% | 0.21% | −0.09 |
| HD Home Depot Inc. | Reduce -4.8% | 0.92% | −0.09 |
| LQD Ishr Ibx Usd Invgd CB ETF-Ui | Reduce -63.4% | 0.05% | −0.09 |
| BSCS Invesco Bulletshares 2028 CB | Reduce -13.2% | 0.44% | −0.08 |
| IBDS Ishrs Ibnds Dec 27 Corp. ETF | Reduce -69.8% | 0.03% | −0.08 |
| SCHA Schwab US Small-Cap ETF | Reduce -18.4% | 0.34% | −0.08 |
| SCHX Schwab US Large-Cap ETF | Reduce -11.1% | 0.73% | −0.07 |
| GD General Dynamics Corp. | Reduce -0.5% | 0.46% | −0.07 |
| XOM Exxon Mobil Corp. | Reduce -2.9% | 0.57% | −0.07 |
| FHLC Fidelity MSCI Health Care | Reduce -0.8% | 0.56% | −0.07 |
| KVUE Kenvue Inc. | Reduce -0.9% | 0.65% | −0.06 |
| AMAT Applied Materials Inc. | Reduce -2.8% | 0.22% | −0.06 |
| LOW Lowe's Cos Inc. | Reduce -3.4% | 0.42% | −0.06 |
| SBUX Starbucks Corp. | Reduce -1.8% | 0.62% | −0.06 |
| LRCX Lam Research Corp. | Reduce -0.2% | 0.33% | −0.04 |
| IBHD iShares Ibonds 2024 H/Y Inc. | Sold out | 0.00% | −0.04 |
| IBDT iShares Ibonds Dec 2028 ETF | Sold out | 0.00% | −0.04 |
| VTEB Vanguard Tax-Exempt Bond ETF | Reduce -17.8% | 0.17% | −0.04 |
| BSCX Invesco Bulletshares 2033 CB | Reduce -1.8% | 0.55% | −0.04 |
| LLY Eli Lilly & Co. | Reduce -0.4% | 0.24% | −0.04 |
| FTEC Fidelity MSCI Info Tech Indx | Reduce -8.3% | 1.11% | −0.04 |
| IEF iShares 7-10 Year Treasury B | Sold out | 0.00% | −0.03 |
| SPMB SS SPDR P Mort Back Bond ETF | Reduce -14.1% | 0.16% | −0.03 |
| PG The Procter & Gamble Co. | Reduce -0.7% | 0.78% | −0.03 |
| CMP Compass Minerals Internation | Sold out | 0.00% | −0.03 |
| VUG Vanguard Mrngstar GR ETF-Sui | Sold out | 0.00% | −0.03 |
| ASML ASML Holding NV-NY Reg SHS | Reduce -1.7% | 0.14% | −0.03 |
| KO The Coca-Cola Co. | Reduce -4.0% | 0.15% | −0.03 |
Portfolio Buys Q3 2024 → Q4 2024
| BBBS BBLX BBB 1-5Y Corp. Bond ETF | New | 0.51% | +0.51 |
| GOOGL Alphabet Inc. Class A | Add +0.2% | 3.59% | +0.44 |
| XTWO Bondbloxx BBG 2Y US TSY ETF | New | 0.37% | +0.37 |
| AAPL Apple Inc. | Add +24.9% | 1.31% | +0.33 |
| VGT Vanguard Info Tech ETF | Add +2.0% | 3.48% | +0.25 |
| SPMD SS SPDR P S&P 400 Midcap ETF | Add +18.6% | 1.64% | +0.25 |
| MYCN State Street MY2034 Corporat | New | 0.22% | +0.22 |
| IBTO iShares Ibonds Dec 2033 Tres | New | 0.18% | +0.18 |
| GOOG Alphabet Inc. Class C | Add +80.2% | 0.33% | +0.17 |
| DIS The Walt Disney Co. | Add +10.8% | 0.76% | +0.17 |
| SPSM SS SPDR P S&P 600 Small Cap | Add +19.6% | 1.09% | +0.16 |
| VCR Vanguard Consumer Discre ETF | Add +0.8% | 1.47% | +0.14 |
| BMY Bristol-Myers Squibb Co. | Add +26.8% | 0.49% | +0.14 |
| VFH Vanguard Financials ETF | Add +0.4% | 1.84% | +0.13 |
| MYCH State Street MY2028 Corporat | New | 0.13% | +0.13 |
| MYCI State Street MY2029 Corporat | New | 0.13% | +0.13 |
| XTRE Bondbloxx BBG 3Y US TSY ETF | New | 0.13% | +0.13 |
| MYMF State Street MY2026 Municipa | New | 0.12% | +0.12 |
| HON Honeywell International Inc. | Add +7.9% | 0.82% | +0.12 |
| MYMG State Street MY2027 Municipa | New | 0.12% | +0.12 |
| VIS Vanguard Industrials ETF | Add +12.3% | 1.29% | +0.11 |
| LNG Cheniere Energy Inc. | Add +0.3% | 0.63% | +0.10 |
| XONE Bondbloxx BBG 1 Dur US Treas | Add +32.7% | 0.42% | +0.10 |
| MYCG State Street MY2027 Corporat | New | 0.09% | +0.09 |
| MYCM State Street MY2033 Corporat | New | 0.09% | +0.09 |
| VHT Vanguard Health Care ETF | Add +19.1% | 1.43% | +0.09 |
| MYCF State Street MY2026 Corporat | New | 0.08% | +0.08 |
| MYCJ State Street MY2030 Corporat | New | 0.08% | +0.08 |
| AVGO Broadcom Inc. | New | 0.08% | +0.08 |
| MYMJ State Street MY2030 Municipa | New | 0.07% | +0.07 |
| MYCL State Street MY2032 Corporat | New | 0.07% | +0.07 |
| UNH Unitedhealth Group Inc. | New | 0.07% | +0.07 |
| SPTM SS SPDR P S&P 1500 Comp ETF | Add +5.2% | 0.95% | +0.06 |
| MYMH State Street MY2028 Municipa | New | 0.06% | +0.06 |
| MYCK State Street MY2031 Corporat | New | 0.05% | +0.05 |
| IBTK iShares Ibonds Dec 2030 Trea | New | 0.05% | +0.05 |
| ABBV Abbvie Inc. | New | 0.04% | +0.04 |
| IWR iShares Russell Mid-Cap ETF | New | 0.04% | +0.04 |
| COST Costco Wholesale Corp. | Add +9.9% | 0.36% | +0.04 |
| GEV GE Vernova Inc. | New | 0.03% | +0.03 |
| IWM iShares Russell 2000 ETF | New | 0.03% | +0.03 |
| F Ford Motor Co. | New | 0.03% | +0.03 |
| IHDG Wisdomtree International Hed | Add +12.4% | 0.43% | +0.03 |
| VEA Vanguard Ftse Developed ETF | Add +91.4% | 0.06% | +0.03 |
| CLX Clorox Company | Add +16.6% | 0.16% | +0.02 |
| VDE Vanguard Energy ETF | Add +35.6% | 0.06% | +0.02 |
| VDC Vanguard Consumer Staple ETF | Add +5.8% | 0.59% | +0.01 |
| WDAY Workday Inc. Class A | Add +1.9% | 0.16% | +0.01 |
| IBDQ iShares Ibonds Dec 2025 Term | Add +5.6% | 0.22% | +0.01 |
| SCHW Schwab (charles) Corp. | Add +6.9% | 0.06% | +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 |