13F HOLDINGS REPORT

Exchange Capital Management, Inc.

Quarter ended Q4 2023 · Filed October 30, 2023 · Accession 0001104659-23-112530

Total Value

$529.9M

Positions

176

Other Managers

Confidential Omitted

View on SEC.gov

Holdings (176)

#	Issuer	Ticker / CUSIP	Shares	Value	% of Filing
1	Microsoft Corp	MSFT	73,175	$23.1M	4.36%
2	Alphabet Inc. CL A	GOOG	127,493	$16.7M	3.15%
3	WisdomTree Dynamic Ccy Hdgd Intl Eq ETF	WT	479,374	$14.6M	2.76%
4	Berkshire Hathaway Inc	BRK-A	39,839	$14.0M	2.63%
5	Vanguard Sector Index Fds Vanguard Information Tec	92204A702	33,373	$13.8M	2.61%
6	Amazon.com Inc	AMZN	106,822	$13.6M	2.56%
7	Invesco BulletShares 2023 Corp Bd ETF	IVZ	606,853	$12.9M	2.43%
8	iShares Core S&P Small-Cap	464287804	127,260	$12.0M	2.27%
9	iShares iBonds Dec 2023 Term Corporate	46434VAX8	436,148	$11.1M	2.09%
10	SPDR(R) S&P MidCap 400 ETF	MDY	22,682	$10.4M	1.95%
11	Salesforce.com Inc	CRM	46,500	$9.4M	1.78%
12	BlackRock Inc	BLK	14,257	$9.2M	1.74%
13	iShares Core S&P Mid-Cap	464287507	36,836	$9.2M	1.73%
14	KLA-Tencor Corp	KLAC	19,539	$9.0M	1.69%
15	Monster Beverage Corp	MNST	157,790	$8.4M	1.58%
16	iShares Currency Hedged MSCI EAFE	46434V803	273,206	$8.2M	1.55%
17	ServiceNow Inc	NOW	14,335	$8.0M	1.51%
18	iShares Core US Aggregate Bond	464287226	83,848	$7.9M	1.49%
19	Vanguard Financials ETF	92204A405	88,929	$7.1M	1.35%
20	Emerson Electric Co	EMR	69,947	$6.8M	1.27%
21	Comcast Corp	CCZ	148,354	$6.6M	1.24%
22	Merck & Co Inc	MRK	61,791	$6.4M	1.20%
23	Vanguard Consumer Discretionary ETF	92204A108	22,587	$6.1M	1.15%
24	Vanguard Health Care ETF	92204A504	25,750	$6.1M	1.14%
25	Schwab US Mid-Cap ETF(TM)	808524508	86,158	$5.8M	1.10%
26	Fidelity(R) MSCI Information Tech ETF	316092808	46,539	$5.7M	1.08%
27	Guidewire Software Inc	GWRE	62,339	$5.6M	1.06%
28	Home Depot Inc	HD	18,037	$5.4M	1.03%
29	Schwab US Large-Cap ETF(TM)	808524201	107,512	$5.4M	1.03%
30	JPMorgan Chase & Co	VYLD	37,435	$5.4M	1.02%
31	Vanguard Telecommunication Services ETF	92204A884	51,258	$5.4M	1.02%
32	Veeva Systems Inc	VEEV	25,780	$5.2M	0.99%
33	Apple Inc	AAPL	29,987	$5.1M	0.97%
34	Biogen Idec Inc	BIIB	19,378	$5.0M	0.94%
35	Amgen Inc	AMGN	18,244	$4.9M	0.93%
36	Adobe Systems Inc	ADBE	9,577	$4.9M	0.92%
37	Invesco BulletShares 2024 Corp Bd ETF	IVZ	231,503	$4.8M	0.90%
38	KENVUE ORD	KVUE	233,066	$4.7M	0.88%
39	Procter & Gamble Co	742718109	31,703	$4.6M	0.87%
40	Vanguard Industrials ETF	92204A603	23,494	$4.6M	0.86%
41	Walt Disney Co	254687106	56,141	$4.6M	0.86%
42	Visa Inc	V	19,493	$4.5M	0.85%
43	Starbucks Corp	SBUX	47,190	$4.3M	0.81%
44	Exxon Mobil Corporation	XOM	35,159	$4.1M	0.78%
45	PepsiCo Inc	PEP	24,350	$4.1M	0.78%
46	Vanguard Materials ETF	92204A801	23,126	$4.0M	0.75%
47	Invesco BulletShares 2025 Corp Bd ETF	IVZ	196,828	$4.0M	0.75%
48	Schwab US Small-Cap ETF(TM)	808524607	95,515	$4.0M	0.75%
49	Technology Select Sector SPDR(R) ETF	81369Y803	21,741	$3.6M	0.67%
50	Fidelity(R) MSCI Health Care ETF	316092600	57,593	$3.5M	0.66%
51	Microchip Technology Inc	MCHPP	44,102	$3.4M	0.65%
52	Honeywell International Inc	438516106	17,667	$3.3M	0.62%
53	iShares Short-Term National Muni Bond	464288158	31,057	$3.2M	0.60%
54	SPDR(R) S&P 1500 ETF	78464A805	59,575	$3.1M	0.59%
55	Cheniere Energy Inc	LNG	18,110	$3.0M	0.57%
56	McDonald s Corp	MCD	11,280	$3.0M	0.56%
57	iShares Core MSCI Emerging Markets	46434G103	61,810	$2.9M	0.56%
58	PowerShares Build America Bond ETF	IVZ	113,127	$2.9M	0.54%
59	Gilead Sciences Inc	GILD	37,740	$2.8M	0.53%
60	Corteva Inc com	CTVA	54,121	$2.8M	0.52%
61	Raytheon Technologies Ord	RTX	38,443	$2.8M	0.52%
62	Medtronic Inc	MDT	34,891	$2.7M	0.52%
63	Lockheed Martin Corp	LMT	6,605	$2.7M	0.51%
64	U.S. Bancorp	USB-PS	81,024	$2.7M	0.51%
65	Zimmer Biomet Holdings INC	ZBH	23,695	$2.7M	0.50%
66	3M Co	MMM	28,348	$2.7M	0.50%
67	Lowe s Companies Inc	548661107	12,660	$2.6M	0.50%
68	Vanguard Consumer Staples ETF	92204A207	14,212	$2.6M	0.49%
69	General Dynamics Corp	GD	11,466	$2.5M	0.48%
70	Pfizer Inc	PFE	70,677	$2.3M	0.44%
71	Fidelity(R) MSCI Consumer Discret ETF	316092204	33,270	$2.3M	0.44%
72	Invesco BulletShares 2026 Corp Bd ETF	IVZ	119,368	$2.2M	0.42%
73	Accenture PLC	ACN	7,226	$2.2M	0.42%
74	Vanguard Total Stock Market ETF	922908769	10,446	$2.2M	0.42%
75	iShares Core S&P 500	464287200	5,092	$2.2M	0.41%
76	Bristol-Myers Squibb Company	CELG-RI	36,345	$2.1M	0.40%
77	Lam Research Corp	LRCX	3,295	$2.1M	0.39%
78	Valero Energy Corp	VLO	13,836	$2.0M	0.37%
79	SPDR(R) Kensho Clean Power ETF	78468R655	28,922	$2.0M	0.37%
80	Johnson & Johnson	JNJ	12,325	$1.9M	0.36%
81	Invesco BulletShares 2027 Corp Bd ETF	IVZ	101,206	$1.9M	0.36%
82	Moody s Corporation	MCO	5,981	$1.9M	0.36%
83	Fidelity(R) MSCI Industrials ETF	316092709	34,291	$1.9M	0.35%
84	Invesco BulletShares 2028 Corp Bd ETF	IVZ	94,916	$1.8M	0.35%
85	Bank of America Corporation	060505104	66,994	$1.8M	0.35%
86	Fidelity(R) MSCI Financials ETF	316092501	39,309	$1.8M	0.35%
87	INVSC BLTSHRS 2029 CORP BND ETF	IVZ	104,287	$1.8M	0.34%
88	Dominion Resources Inc	D	40,588	$1.8M	0.34%
89	Vanguard FTSE Emerging Markets ETF	922042858	43,586	$1.7M	0.32%
90	SPDR(R) S&P 500 ETF	SPY	3,801	$1.6M	0.31%
91	Fidelity(R) MSCI Telecommunication Svc ETF	316092873	39,108	$1.6M	0.29%
92	Nike Inc	NKE	15,994	$1.5M	0.29%
93	Compass Minerals International Inc	COMP	53,035	$1.5M	0.28%
94	Applied Materials Inc	038222105	10,495	$1.5M	0.27%
95	Schwab US Aggregate Bond ETF(TM)	808524839	30,626	$1.4M	0.26%
96	Consumer Discret Sel Sect SPDR(R) ETF	81369Y407	8,356	$1.3M	0.25%
97	BNDBLXX BLMBRG 6 MNTH TRG US TR ETF	09789C788	26,621	$1.3M	0.25%
98	SPDR(R) Portfolio Mortgage Backed Bond ETF	78464A383	63,947	$1.3M	0.25%
99	iShares iBoxx $ Invst Grade Crp Bond	464287242	12,637	$1.3M	0.24%
100	Domino s Pizza Inc	DPZ	3,240	$1.2M	0.23%
101	CMS Energy Corp	CMS-PC	22,674	$1.2M	0.23%
102	Ecolab Inc	ECL	7,026	$1.2M	0.22%
103	Industrial Select Sector SPDR(R) ETF	81369Y704	11,607	$1.2M	0.22%
104	Vanguard Utilities ETF	92204A876	8,970	$1.1M	0.22%
105	Costco Wholesale Corp	22160K105	2,005	$1.1M	0.21%
106	iShares iBonds Dec 2023 Term Muni Bd ETF	46435G318	43,921	$1.1M	0.21%
107	WisdomTree International Hedged Quality Dividend G	WT	28,868	$1.1M	0.21%
108	Union Pacific Corp	UNP	5,372	$1.1M	0.21%
109	S&Pglobal Inc Com	SPGI	2,945	$1.1M	0.20%
110	Coca-Cola Co	KO	18,947	$1.1M	0.20%
111	iShares iBonds Dec 2025 Term Corporate	46434VBD1	42,433	$1.0M	0.20%
112	Etsy Inc com	ETSY	15,309	$988,655	0.19%
113	Roper Industries Inc	ROP	2,040	$987,931	0.19%
114	Fidelity(R) MSCI Consumer Staples ETF	316092303	23,015	$979,970	0.18%
115	Fidelity(R) MSCI Materials ETF	316092881	20,190	$892,178	0.17%
116	QCR Holdings Inc	QCRH	18,250	$885,490	0.17%
117	iShares iBonds Dec 2024 Term Corporate	46434VBG4	35,334	$873,803	0.16%
118	Equifax Inc	EFX	4,763	$872,486	0.16%
119	ASML Holding NV	ASMLF	1,480	$871,217	0.16%
120	Vanguard Small-Cap ETF	922908751	4,501	$851,004	0.16%
121	Unilever PLC	UNLYF	16,532	$816,681	0.15%
122	Fortinet, Inc.	FTNT	13,890	$815,065	0.15%
123	Canadian National Railway Co	136375102	7,285	$789,184	0.15%
124	Alphabet Inc. CL C	GOOG	5,921	$780,684	0.15%
125	CME Group Inc	CME	3,808	$762,438	0.14%
126	Linde plc	LIN	2,044	$761,083	0.14%
127	Schwab US Broad Market ETF(TM)	808524102	15,227	$759,041	0.14%
128	WisdomTree EmMkts ex-Stt-Ownd EntrprsETF	WT	28,107	$749,616	0.14%
129	Intercontinental Exchange Inc	45866F104	6,761	$743,845	0.14%
130	Constellation Brands Inc	STZ	2,925	$735,157	0.14%
131	Chevron Corp	CVX	4,298	$724,729	0.14%
132	WisdomTree Dyn Ccy Hdgd Intl SmCp Eq ETF	WT	23,049	$705,061	0.13%
133	NextEra Energy Inc	NEE-PW	11,975	$686,048	0.13%
134	Clorox Co	CLX	5,021	$658,052	0.12%
135	Eli Lilly and Co	LLY	1,193	$640,612	0.12%
136	iShares iBonds Dec 2026 Term Corporate	46435GAA0	27,357	$638,368	0.12%
137	Masco Corp	MAS	11,913	$636,750	0.12%
138	BNDBLXX BLMBRG 1 YR TRG US TR ETF	09789C861	12,681	$630,626	0.12%
139	Intel Corp	INTC	16,791	$596,920	0.11%
140	Workday Inc	WDAY	2,736	$587,830	0.11%
141	SPDR(R) S&P Bank ETF	78464A797	13,091	$482,403	0.09%
142	DIMENSIONAL U S CORE EQUITY 2 ETF	25434V708	18,252	$478,202	0.09%
143	iShares National AMT-Free Muni Bond	464288414	4,642	$475,991	0.09%
144	iShares iBonds Dec 2027 Term Corp ETF	46435UAA9	19,787	$457,862	0.09%
145	Oracle Corporation	ORCL-PD	4,321	$457,680	0.09%
146	SHYFT GROUP ORD	825698103	30,000	$449,100	0.08%
147	Vanguard Tax-Exempt Bond ETF	922907746	9,335	$449,014	0.08%
148	iShares MSCI Emerging Mkts ex China ETF	46434G764	8,581	$427,591	0.08%
149	Health Care Select Sector SPDR(R) ETF	81369Y209	3,312	$426,387	0.08%
150	Fidelity(R) MSCI Utilities ETF	316092865	11,000	$417,133	0.08%
151	Financial Select Sector SPDR(R) ETF	81369Y605	12,470	$413,630	0.08%
152	Teradyne Inc	TER	3,836	$385,365	0.07%
153	Materials Select Sector SPDR(R) ETF	81369Y100	4,293	$337,215	0.06%
154	Comerica Inc	200340107	7,968	$331,070	0.06%
155	iShares Global Clean Energy	464288224	22,615	$330,631	0.06%
156	SPDR(R) Nuveen Barclays ST Muni Bd ETF	78468R739	7,065	$326,615	0.06%
157	Wal-Mart Stores Inc	WMT	2,014	$322,099	0.06%
158	Aspen Technology Inc	29109X106	1,476	$301,488	0.06%
159	Global X S&P 500(R) Catholic Values ETF	37954Y889	5,708	$298,528	0.06%
160	General Electric Co	369604301	2,663	$294,395	0.06%
161	SPDR(R) Nuveen Blmbg Barclays Muni Bd ETF	78468R721	6,500	$284,050	0.05%
162	Invesco FTSE RAFI US 1000 ETF	IVZ	8,580	$273,016	0.05%
163	Schwab Short-Term US Treasury ETF(TM)	808524862	5,700	$272,973	0.05%
164	PowerShares Dynamic Large Cap Growth ETF	IVZ	3,880	$263,025	0.05%
165	AT&T Inc	T-PC	17,486	$262,641	0.05%
166	Caterpillar Inc	CAT	924	$252,252	0.05%
167	Ishares Tr Ibds Dec28 Etf	46435U515	10,493	$252,154	0.05%
168	Stryker Corporation	SYK	884	$241,571	0.05%
169	Schwab Fundamental US Small Company ETF	808524763	4,557	$220,969	0.04%
170	Schwab US Large-Cap Growth ETF(TM)	808524300	2,960	$215,284	0.04%
171	Verizon Communications Inc	VZ	6,586	$213,456	0.04%
172	Consumer Staples Select Sector SPDR(R) ETF	81369Y308	3,089	$212,554	0.04%
173	iShares 7-10 Year Treasury Bond	464287440	2,264	$207,360	0.04%
174	Vanguard 500 ETF	922908363	518	$203,419	0.04%
175	Sirius XM Holdings Inc	SIRI	40,305	$182,179	0.03%
176	Ford Motor Co	345370860	13,637	$169,370	0.03%