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VOL. XII · NO. 117Established MMXIV · George Town, Grand CaymanAtlantic Edition · $4.50

The Cayman Journal

Finance · Business · Technology · Caribbean & Global Affairs
13F HOLDINGS REPORT

Exchange Capital Management, Inc.

Quarter ended Q1 2023 · Filed February 1, 2023 · Accession 0001104659-23-008839

Total Value
$456.1M
Positions
161
Other Managers
0
Confidential Omitted
No
View on SEC.gov

Holdings (161)

#IssuerTicker / CUSIPSharesValue% of Filing
1Microsoft CorpMSFT74,563$17.9M3.92%
2WisdomTree Dynamic Ccy Hdgd Intl Eq ETFWT486,963$14.2M3.12%
3Berkshire Hathaway IncBRK-A40,844$12.6M2.77%
4iShares Core S&P Small-Cap464287804124,345$11.8M2.58%
5Alphabet Inc. CL AGOOG124,467$11.0M2.41%
6Vanguard Sector Index Fds Vanguard Information Tec92204A70232,477$10.4M2.27%
7SPDR(R) S&P MidCap 400 ETFMDY23,394$10.4M2.27%
8BlackRock IncBLK14,228$10.1M2.21%
9KLA-Tencor CorpKLAC23,026$8.7M1.90%
10iShares Core S&P Mid-Cap46428750734,802$8.4M1.85%
11Amazon.com IncAMZN98,789$8.3M1.82%
12Invesco BulletShares 2023 Corp Bd ETFIVZ384,788$8.1M1.77%
13iShares Currency Hedged MSCI EAFE46434V803267,279$7.2M1.58%
14Vanguard Financials ETF92204A40585,849$7.1M1.56%
15Merck & Co IncMRK63,800$7.1M1.55%
16iShares Core US Aggregate Bond46428722670,181$6.8M1.49%
17Emerson Electric CoEMR70,214$6.7M1.48%
18Vanguard Health Care ETF92204A50425,817$6.4M1.40%
19Salesforce.com IncCRM46,458$6.2M1.35%
20Schwab US Mid-Cap ETF(TM)80852450892,561$6.1M1.33%
21Home Depot IncHD18,542$5.9M1.28%
22ServiceNow IncNOW14,103$5.5M1.20%
23Schwab US Large-Cap ETF(TM)808524201120,019$5.4M1.19%
24Biogen Idec IncBIIB19,395$5.4M1.18%
25Johnson & JohnsonJNJ29,162$5.2M1.13%
26Procter & Gamble Co74271810932,867$5.0M1.09%
27Amgen IncAMGN18,878$5.0M1.09%
28Vanguard Consumer Discretionary ETF92204A10822,375$4.9M1.07%
29PepsiCo IncPEP27,025$4.9M1.07%
30Starbucks CorpSBUX48,579$4.8M1.06%
31JPMorgan Chase & CoVYLD35,675$4.8M1.05%
32Fidelity(R) MSCI Information Tech ETF31609280850,476$4.8M1.05%
33Comcast CorpCCZ125,457$4.4M0.96%
34Vanguard Telecommunication Services ETF92204A88452,931$4.4M0.95%
35Vanguard Industrials ETF92204A60323,486$4.3M0.94%
36Visa IncV20,636$4.3M0.94%
37Walt Disney Co25468710649,187$4.3M0.94%
38Schwab US Small-Cap ETF(TM)808524607104,231$4.2M0.93%
39Invesco BulletShares 2024 Corp Bd ETFIVZ197,656$4.0M0.89%
40Exxon Mobil CorporationXOM36,579$4.0M0.88%
41Raytheon Technologies OrdRTX39,629$4.0M0.88%
42Fidelity(R) MSCI Health Care ETF31609260062,056$4.0M0.87%
43Veeva Systems IncVEEV24,398$3.9M0.86%
44Pfizer IncPFE76,068$3.9M0.85%
45Guidewire Software IncGWRE59,468$3.7M0.82%
46Honeywell International Inc43851610616,953$3.6M0.80%
47Vanguard Materials ETF92204A80120,969$3.6M0.78%
48Microchip Technology IncMCHPP49,341$3.5M0.76%
49Adobe Systems IncADBE9,742$3.3M0.72%
50iShares Short-Term National Muni Bond46428815830,745$3.2M0.70%
51Vanguard Consumer Staples ETF92204A20716,598$3.2M0.70%
52Invesco BulletShares 2025 Corp Bd ETFIVZ157,192$3.2M0.69%
53Lockheed Martin CorpLMT6,298$3.1M0.67%
543M CoMMM25,381$3.0M0.67%
55McDonald s CorpMCD11,320$3.0M0.65%
56Apple IncAAPL22,895$3.0M0.65%
57Gilead Sciences IncGILD34,159$2.9M0.64%
58Cheniere Energy IncLNG19,523$2.9M0.64%
59General Dynamics CorpGD11,685$2.9M0.64%
60Technology Select Sector SPDR(R) ETF81369Y80322,875$2.8M0.62%
61iShares Core MSCI Emerging Markets46434G10360,591$2.8M0.62%
62Corteva Inc comCTVA48,055$2.8M0.62%
63PowerShares Build America Bond ETFIVZ107,213$2.8M0.60%
64Bristol-Myers Squibb CompanyCELG-RI38,045$2.7M0.60%
65Lowe s Companies Inc54866110713,014$2.6M0.57%
66Medtronic IncMDT32,083$2.5M0.55%
67Zimmer Biomet Holdings INCZBH19,427$2.5M0.54%
68SPDR(R) S&P 1500 ETF78464A80551,015$2.4M0.53%
69Bank of America Corporation06050510470,939$2.3M0.52%
70Dominion Resources IncD37,578$2.3M0.51%
71U.S. BancorpUSB-PS52,625$2.3M0.50%
72SPDR(R) Kensho Clean Power ETF78468R65526,916$2.2M0.48%
73Accenture PLCACN7,854$2.1M0.46%
74Vanguard Total Stock Market ETF92290876910,592$2.0M0.44%
75Fidelity(R) MSCI Consumer Discret ETF31609220435,246$2.0M0.44%
76Fidelity(R) MSCI Financials ETF31609250141,549$2.0M0.44%
77iShares Core S&P 5004642872004,966$1.9M0.42%
78Valero Energy CorpVLO14,625$1.9M0.41%
79Fidelity(R) MSCI Industrials ETF31609270936,256$1.8M0.40%
80CMS Energy CorpCMS-PC28,744$1.8M0.40%
81Moody s CorporationMCO6,287$1.8M0.38%
82SPDR(R) Portfolio Mortgage Backed Bond ETF78464A38378,302$1.7M0.37%
83Invesco BulletShares 2026 Corp Bd ETFIVZ89,478$1.7M0.37%
84INVSC BLTSHRS 2029 CORP BND ETFIVZ94,806$1.7M0.37%
85Vanguard FTSE Emerging Markets ETF92204285842,323$1.6M0.36%
86Invesco BulletShares 2028 Corp Bd ETFIVZ83,916$1.6M0.36%
87Compass Minerals International IncCOMP38,967$1.6M0.35%
88Schwab US Aggregate Bond ETF(TM)80852483933,917$1.5M0.34%
89iShares iBoxx $ Invst Grade Crp Bond46428724214,507$1.5M0.34%
90Nike IncNKE12,792$1.5M0.33%
91Etsy Inc comETSY11,899$1.4M0.31%
92Vanguard Utilities ETF92204A8768,923$1.4M0.30%
93Coca-Cola CoKO20,550$1.3M0.29%
94iShares iBonds Dec 2023 Term Corporate46434VAX852,148$1.3M0.29%
95Invesco BulletShares 2027 Corp Bd ETFIVZ68,708$1.3M0.29%
96Fidelity(R) MSCI Telecommunication Svc ETF31609287341,935$1.3M0.29%
97Lam Research CorpLRCX3,061$1.3M0.28%
98Union Pacific CorpUNP5,743$1.2M0.26%
99Industrial Select Sector SPDR(R) ETF81369Y70412,010$1.2M0.26%
100Fidelity(R) MSCI Consumer Staples ETF31609230325,538$1.1M0.25%
101SPDR(R) S&P 500 ETFSPY2,911$1.1M0.24%
102Consumer Discret Sel Sect SPDR(R) ETF81369Y4078,510$1.1M0.24%
103iShares iBonds Dec 2025 Term Corporate46434VBD144,032$1.1M0.23%
104Applied Materials Inc03822210510,978$1.1M0.23%
105S&Pglobal Inc ComSPGI3,045$1.0M0.22%
106NextEra Energy IncNEE-PW11,667$975,3610.21%
107Costco Wholesale Corp22160K1052,058$939,4770.21%
108Fidelity(R) MSCI Materials ETF31609288120,960$914,9060.20%
109QCR Holdings IncQCRH18,250$905,9300.20%
110iShares iBonds Dec 2024 Term Corporate46434VBG437,098$905,9290.20%
111Roper Industries IncROP2,020$872,8220.19%
112Canadian National Railway Co1363751027,286$866,1600.19%
113ASML Holding NVASMLF1,495$816,8680.18%
114Schwab US Broad Market ETF(TM)80852410218,171$814,2200.18%
115Constellation Brands IncSTZ3,258$754,9410.17%
116SHYFT GROUP ORD82569810330,000$745,8000.16%
117Chevron CorpCVX4,094$734,8320.16%
118Unilever PLCUNLYF13,842$696,9450.15%
119Equifax IncEFX3,544$688,8120.15%
120Domino s Pizza IncDPZ1,974$683,7940.15%
121Fortinet, Inc.FTNT13,880$678,5930.15%
122iShares iBonds Dec 2026 Term Corporate46435GAA028,286$660,4750.14%
123WisdomTree International Hedged Quality Dividend GWT18,431$656,6970.14%
124Linde plcLIN2,013$656,6000.14%
125WisdomTree EmMkts ex-Stt-Ownd EntrprsETFWT24,400$650,9950.14%
126Vanguard Small-Cap ETF9229087513,397$623,4850.14%
127iShares iBonds Dec 2023 Term Muni Bd ETF46435G31824,000$608,4000.13%
128SPDR(R) S&P Bank ETF78464A79713,474$608,3510.13%
129Clorox CoCLX4,021$564,2670.12%
130Intel CorpINTC20,641$545,5420.12%
131Fidelity(R) MSCI Utilities ETF31609286511,551$526,4730.12%
132Alphabet Inc. CL CGOOG5,905$523,9510.11%
133Health Care Select Sector SPDR(R) ETF81369Y2093,581$486,4790.11%
134iShares iBonds Dec 2027 Term Corp ETF46435UAA920,747$484,8630.11%
135WisdomTree Dyn Ccy Hdgd Intl SmCp Eq ETFWT15,572$466,3920.10%
136Workday IncWDAY2,653$443,9260.10%
137Financial Select Sector SPDR(R) ETF81369Y60512,607$431,1590.09%
138iShares MSCI Emerging Mkts ex China ETF46434G7648,710$413,4640.09%
139CME Group IncCME2,211$371,8020.08%
140iShares Global Clean Energy46428822418,180$360,8730.08%
141Materials Select Sector SPDR(R) ETF81369Y1004,366$339,1510.07%
142SPDR(R) Nuveen Barclays ST Muni Bd ETF78468R7397,065$331,9140.07%
143Aspen Technology Inc29109X1061,580$324,5320.07%
144AT&T IncT-PC17,235$317,2970.07%
145Wal-Mart Stores IncWMT2,202$312,1510.07%
146SPDR(R) Nuveen Blmbg Barclays Muni Bd ETF78468R7216,500$296,5300.07%
147Schwab Short-Term US Treasury ETF(TM)8085248625,697$274,8230.06%
148Ishares Tr Ibds Dec28 Etf46435U51510,980$266,7030.06%
149Global X S&P 500(R) Catholic Values ETF37954Y8895,708$265,5360.06%
150Consumer Staples Select Sector SPDR(R) ETF81369Y3083,343$249,2210.05%
151Verizon Communications IncVZ6,202$244,3630.05%
152PowerShares Dynamic Large Cap Growth ETFIVZ3,880$231,7910.05%
153Ecolab IncECL1,590$231,4400.05%
154Caterpillar IncCAT953$228,3010.05%
155General Electric Co3696043012,663$223,1330.05%
156iShares 7-10 Year Treasury Bond4642874402,317$221,9380.05%
157Stryker CorporationSYK864$211,2390.05%
158Wisconsin Energy CorpWEC2,246$210,5850.05%
159iShares Core S&P Total US Stock Mkt4642871502,447$207,5060.05%
160Fifth Third BancorpFITBM6,117$200,6990.04%
161Vanguard FTSE Developed Markets ETF9219438584,642$194,8250.04%