13F HOLDINGS REPORT

Exchange Capital Management, Inc.

Quarter ended Q1 2025 · Filed May 1, 2025 · Accession 0001104659-25-043090

Total Value

$616.7M

Positions

207

Other Managers

Confidential Omitted

View on SEC.gov

Holdings (207)

#	Issuer	Ticker / CUSIP	Shares	Value	% of Filing
1	Microsoft Corp	MSFT	72,539	$27.2M	4.42%
2	Vanguard Sector Index Fds Vanguard Information Tec	92204A702	37,404	$20.3M	3.29%
3	Amazon.com Inc	AMZN	99,435	$18.9M	3.07%
4	Alphabet Inc. CL A	GOOG	118,006	$18.2M	2.96%
5	Berkshire Hathaway Inc	BRK-A	31,317	$16.7M	2.70%
6	WisdomTree Dynamic Ccy Hdgd Intl Eq ETF	WT	453,317	$16.7M	2.70%
7	Vanguard Financials ETF	92204A405	100,086	$12.0M	1.94%
8	BlackRock Inc	BLK	12,444	$11.8M	1.91%
9	iShares Currency Hedged MSCI EAFE	46434V803	309,169	$11.2M	1.82%
10	Salesforce.com Inc	CRM	39,901	$10.7M	1.74%
11	SPDR S&P MidCap 400 ETF	MDY	20,031	$10.7M	1.73%
12	Vanguard Health Care ETF	92204A504	40,351	$10.7M	1.73%
13	SPDR Portfolio S&P 400 Mid Cap ETF	78464A847	205,914	$10.5M	1.71%
14	iShares Core S&P Small-Cap	464287804	91,442	$9.6M	1.55%
15	ServiceNow Inc	NOW	11,498	$9.2M	1.48%
16	KLA-Tencor Corp	KLAC	13,068	$8.9M	1.44%
17	Vanguard Industrials ETF	92204A603	34,595	$8.6M	1.39%
18	Vanguard Consumer Discretionary ETF	92204A108	25,710	$8.4M	1.36%
19	JPMorgan Chase & Co	VYLD	33,325	$8.2M	1.33%
20	Guidewire Software Inc	GWRE	41,211	$7.7M	1.25%
21	Vanguard Telecommunication Services ETF	92204A884	51,528	$7.6M	1.24%
22	Monster Beverage Corp	MNST	124,804	$7.3M	1.18%
23	Emerson Electric Co	EMR	64,485	$7.1M	1.15%
24	Apple Inc	AAPL	31,740	$7.1M	1.14%
25	SPDR S&P 600 Small Cap ETF	78468R853	170,720	$7.0M	1.13%
26	Veeva Systems Inc	VEEV	29,613	$6.9M	1.11%
27	iShares Core US Aggregate Bond	464287226	66,240	$6.6M	1.06%
28	SPDR S&P 1500 ETF	78464A805	95,550	$6.5M	1.05%
29	Fidelity MSCI Information Tech ETF	316092808	36,813	$5.9M	0.96%
30	Raytheon Technologies Ord	RTX	44,112	$5.8M	0.95%
31	iShares Core S&P Mid-Cap	464287507	94,408	$5.5M	0.89%
32	Vanguard Utilities ETF	92204A876	31,071	$5.3M	0.86%
33	Amgen Inc	AMGN	16,742	$5.2M	0.85%
34	Home Depot Inc	HD	14,191	$5.2M	0.84%
35	Gilead Sciences Inc	GILD	46,108	$5.2M	0.84%
36	Merck & Co Inc	MRK	57,322	$5.1M	0.83%
37	Honeywell International Inc	438516106	23,796	$5.0M	0.82%
38	Procter & Gamble Co	742718109	28,857	$4.9M	0.80%
39	Visa Inc	V	13,791	$4.8M	0.78%
40	Comcast Corp	CCZ	130,312	$4.8M	0.78%
41	Vanguard Materials ETF	92204A801	25,147	$4.7M	0.77%
42	Kenvue	KVUE	192,852	$4.6M	0.75%
43	Cheniere Energy Inc	LNG	18,826	$4.4M	0.71%
44	Walt Disney Co	254687106	42,860	$4.2M	0.69%
45	Vanguard Consumer Staples ETF	92204A207	18,590	$4.1M	0.66%
46	Starbucks Corp	SBUX	41,466	$4.1M	0.66%
47	Exxon Mobil Corporation	XOM	32,864	$3.9M	0.63%
48	iShares Core MSCI Emerging Markets	46434G103	69,407	$3.7M	0.61%
49	Schwab US Large-Cap ETF(TM)	808524201	168,588	$3.7M	0.60%
50	SPDR SSGA MY2029 CORP BND ETF	78470P788	150,332	$3.7M	0.60%
51	BONDBLOXX BBB 1 5 YR COR BND ETF	09789C754	72,722	$3.7M	0.60%
52	Corteva Inc com	CTVA	56,740	$3.6M	0.58%
53	Johnson & Johnson	JNJ	21,394	$3.5M	0.58%
54	Medtronic Inc	MDT	39,368	$3.5M	0.57%
55	SPDR SSGA MY2028 CORP BND ETF	78470P796	141,320	$3.5M	0.57%
56	Fidelity MSCI Health Care ETF	316092600	51,094	$3.5M	0.57%
57	Invesco BulletShares 2033 Corp Bond ETF	IVZ	165,950	$3.5M	0.56%
58	McDonald s Corp	MCD	11,082	$3.5M	0.56%
59	Bristol-Myers Squibb Company	CELG-RI	54,673	$3.3M	0.54%
60	Technology Select Sector SPDR ETF	81369Y803	15,457	$3.2M	0.52%
61	U.S. Bancorp	USB-PS	75,556	$3.2M	0.52%
62	Invesco BulletShares 2031 Corp Bond ETF	IVZ	193,980	$3.2M	0.51%
63	Zimmer Biomet Holdings INC	ZBH	27,462	$3.1M	0.50%
64	Invesco BulletShares 2032 Corp Bond ETF	IVZ	151,820	$3.1M	0.50%
65	PepsiCo Inc	PEP	20,431	$3.1M	0.50%
66	BNDBLXX BLMBRG 2 YR TRG US TR ETF	09789C853	61,619	$3.0M	0.49%
67	General Dynamics Corp	GD	10,830	$3.0M	0.48%
68	Lockheed Martin Corp	LMT	6,605	$3.0M	0.48%
69	WisdomTree International Hedged Quality Dividend G	WT	67,733	$2.9M	0.48%
70	Costco Wholesale Corp	22160K105	2,992	$2.8M	0.46%
71	Adobe Systems Inc	ADBE	7,366	$2.8M	0.46%
72	Invesco BulletShares 2026 Corp Bond ETF	IVZ	144,934	$2.8M	0.46%
73	BNDBLXX BLMBRG 1 YR TRG US TR ETF	09789C861	55,922	$2.8M	0.45%
74	Invesco BulletShares 2025 Corp Bond ETF	IVZ	130,892	$2.7M	0.44%
75	Schwab US Mid-Cap ETF(TM)	808524508	102,079	$2.7M	0.43%
76	Invesco BulletShares 2030 Corp Bond ETF	IVZ	160,250	$2.7M	0.43%
77	Invesco BulletShares 2027 Corp Bond ETF	IVZ	130,174	$2.6M	0.41%
78	Vanguard Total Stock Market ETF	922908769	9,182	$2.5M	0.41%
79	Lowe s Companies Inc	548661107	10,602	$2.5M	0.40%
80	Fidelity MSCI Consumer Discret ETF	316092204	29,078	$2.5M	0.40%
81	WisdomTree Dyn Ccy Hdgd Intl SmCp Eq ETF	WT	65,977	$2.3M	0.38%
82	SPDR SSGA MY2034 CORP BND ETF	78470P739	94,282	$2.3M	0.37%
83	Fidelity MSCI Financials ETF	316092501	32,871	$2.3M	0.37%
84	Moody s Corporation	MCO	4,742	$2.2M	0.36%
85	Bank of America Corporation	060505104	51,529	$2.2M	0.35%
86	Fidelity MSCI Industrials ETF	316092709	30,925	$2.1M	0.34%
87	Lam Research Corp	LRCX	28,496	$2.1M	0.34%
88	Accenture PLC	ACN	6,633	$2.1M	0.34%
89	Equifax Inc	EFX	7,931	$1.9M	0.31%
90	Vanguard FTSE Emerging Markets ETF	922042858	42,244	$1.9M	0.31%
91	Fidelity MSCI Telecommunication Svc ETF	316092873	32,954	$1.9M	0.30%
92	Ecolab Inc	ECL	7,074	$1.8M	0.29%
93	Microchip Technology Inc	MCHPP	36,936	$1.8M	0.29%
94	Roper Industries Inc	ROP	2,959	$1.7M	0.28%
95	Valero Energy Corp	VLO	12,835	$1.7M	0.27%
96	iShares Core S&P 500	464287200	2,992	$1.7M	0.27%
97	Schwab US Small-Cap ETF(TM)	808524607	71,649	$1.7M	0.27%
98	SPDR S&P 500 ETF	SPY	2,986	$1.7M	0.27%
99	Alphabet Inc. CL C	GOOG	10,476	$1.6M	0.27%
100	Fortinet, Inc.	FTNT	16,620	$1.6M	0.26%
101	iShares iBonds 2025 Corp Bond ETF	46434VBD1	59,837	$1.5M	0.24%
102	Eli Lilly and Co	LLY	1,807	$1.5M	0.24%
103	Clorox Co	CLX	9,776	$1.4M	0.23%
104	SPDR Kensho Clean Power ETF	78468R655	28,232	$1.4M	0.23%
105	WisdomTree EmMkts ex-Stt-Ownd EntrprsETF	WT	44,010	$1.4M	0.22%
106	S&Pglobal Inc Com	SPGI	2,600	$1.3M	0.21%
107	QCR Holdings Inc	QCRH	18,250	$1.3M	0.21%
108	Consumer Discret Sel Sect SPDR ETF	81369Y407	6,297	$1.2M	0.20%
109	Domino s Pizza Inc	DPZ	2,706	$1.2M	0.20%
110	Applied Materials Inc	038222105	8,375	$1.2M	0.20%
111	iShares Short-Term National Muni Bond	464288158	11,395	$1.2M	0.20%
112	BNDBLXX BLMBRG 6 MNTH TRG US TR ETF	09789C788	23,891	$1.2M	0.20%
113	Ishares Ibonds Dec 2033 Term Treasury ETF	46436E148	49,151	$1.2M	0.19%
114	Industrial Select Sector SPDR ETF	81369Y704	9,009	$1.2M	0.19%
115	SPDR SSGA MY2030 CORP BND ETF	78470P770	47,763	$1.2M	0.19%
116	Union Pacific Corp	UNP	4,964	$1.2M	0.19%
117	Core Laboratories NV	CLB	73,627	$1.1M	0.18%
118	Intercontinental Exchange Inc	45866F104	6,335	$1.1M	0.18%
119	Masco Corp	MAS	15,431	$1.1M	0.17%
120	Fidelity MSCI Consumer Staples ETF	316092303	20,977	$1.1M	0.17%
121	SPDR SSGA MY2033 CORP BND ETF NV	78470P747	41,994	$1.0M	0.17%
122	Unilever PLC	UNLYF	16,965	$1.0M	0.16%
123	Workday Inc	WDAY	4,257	$994,137	0.16%
124	CME Group Inc	CME	3,719	$986,614	0.16%
125	Coca-Cola Co	KO	13,547	$970,270	0.16%
126	BNDBLXX BLMBRG 3 YR TRG US TR ETF	09789C846	18,477	$915,166	0.15%
127	Vanguard Tax-Exempt Bond ETF	922907746	17,961	$891,225	0.14%
128	SPDR SSGA MY2032 CORP BND ETF	78470P754	36,420	$888,058	0.14%
129	Schwab US Broad Market ETF(TM)	808524102	41,242	$887,939	0.14%
130	iShares National AMT-Free Muni Bond	464288414	8,394	$885,063	0.14%
131	Linde plc	LIN	1,892	$880,991	0.14%
132	Pfizer Inc	PFE	34,362	$870,724	0.14%
133	WisdomTree Emerging Mkts Qual Div Gr ETF	WT	35,703	$867,940	0.14%
134	ASML Holding NV	ASMLF	1,280	$848,166	0.14%
135	Invesco BulletShares 2029 Corp Bond ETF	IVZ	45,002	$833,887	0.14%
136	Fidelity MSCI Materials ETF	316092881	17,106	$826,542	0.13%
137	CMS Energy Corp	CMS-PC	10,738	$806,563	0.13%
138	Nike Inc	NKE	12,678	$804,805	0.13%
139	SPDR SSGA MY2026 MUNI BND ETF IV	78470P721	31,750	$791,369	0.13%
140	NextEra Energy Inc	NEE-PW	11,071	$784,823	0.13%
141	WisdomTree Emerging Markets SmCp Div ETF	WT	16,103	$777,936	0.13%
142	Vanguard Small-Cap ETF	922908751	3,436	$761,960	0.12%
143	SPDR SSGA MY2027 MUNI BND ETF NV	78470P713	29,950	$740,364	0.12%
144	SPDR SSGA MY2027 CORP BND ETF	78470P812	29,058	$724,271	0.12%
145	SPDR SSGA MY2031 CORP BND ETF	78470P762	29,235	$718,012	0.12%
146	Canadian National Railway Co	136375102	7,049	$686,996	0.11%
147	Vanguard Sector Index Fds Vanguard Energy Etf	92204A306	5,237	$679,334	0.11%
148	Autodesk Inc.	ADSK	2,568	$672,302	0.11%
149	Invesco BulletShares 2028 Corp Bond ETF	IVZ	32,439	$660,134	0.11%
150	iShares iBonds 2025 Muni Bond ETF	46435U432	22,710	$607,493	0.10%
151	iShares Global Clean Energy	464288224	52,182	$595,918	0.10%
152	3M Co	MMM	4,021	$590,533	0.10%
153	SPDR SSGA MY2026 CORP BND ETF	78470P820	22,682	$568,865	0.09%
154	SPDR SSGA My2030 Municipal Bond ETF	78470P671	22,640	$555,020	0.09%
155	Chevron Corp	CVX	3,260	$545,365	0.09%
156	Charles Schwab Corp	SCHW-PJ	6,740	$527,607	0.09%
157	Oracle Corporation	ORCL-PD	3,756	$525,126	0.09%
158	General Electric Co	369604301	2,613	$522,992	0.08%
159	Wal-Mart Stores Inc	WMT	5,860	$514,443	0.08%
160	SPDR Portfolio Mortgage Backed Bond ETF	78464A383	22,806	$502,868	0.08%
161	AT&T Inc	T-PC	17,668	$499,644	0.08%
162	Fidelity MSCI Utilities ETF	316092865	9,501	$484,094	0.08%
163	MarketAxess Holdings Inc	MKTX	2,065	$446,763	0.07%
164	SPDR SSGA MY2028 MUNI BND ETF	78470P697	17,649	$433,195	0.07%
165	UnitedHealth Group Inc	UNH	823	$431,046	0.07%
166	iShares iBonds 2029 Muni Bond ETF	46436E163	16,869	$422,400	0.07%
167	iShares MSCI Emerging Mkts ex China ETF	46434G764	7,561	$416,535	0.07%
168	Global X S&P 500 Catholic Values ETF	37954Y889	6,148	$415,236	0.07%
169	iShares iBonds 2026 Muni Bond ETF	46435U259	15,399	$393,598	0.06%
170	iShares iBonds 2028 Muni Bond ETF	46435U325	15,519	$392,476	0.06%
171	Comerica Inc	200340107	6,518	$384,953	0.06%
172	GlaxoSmithKline PLC	GLAXF	9,884	$382,906	0.06%
173	iShares iBonds 2027 Muni Bond ETF	46435U283	14,986	$378,846	0.06%
174	Financial Select Sector SPDR ETF	81369Y605	7,557	$376,414	0.06%
175	DIMENSIONAL U S CORE EQUITY 2 ETF	25434V708	11,387	$375,657	0.06%
176	Broadcom Inc Com	AVGO	2,239	$374,916	0.06%
177	Health Care Select Sector SPDR ETF	81369Y209	2,560	$373,786	0.06%
178	Verizon Communications Inc	VZ	8,191	$371,529	0.06%
179	Teradyne Inc	TER	4,416	$364,762	0.06%
180	Etsy Inc com	ETSY	7,595	$358,332	0.06%
181	SPDR S&P Bank ETF	78464A797	6,724	$356,103	0.06%
182	Abbvie Inc	ABBV	1,690	$354,089	0.06%
183	Invesco FTSE RAFI US 1000 ETF	IVZ	8,580	$346,718	0.06%
184	Materials Select Sector SPDR ETF	81369Y100	3,726	$320,327	0.05%
185	Vanguard 500 ETF	922908363	612	$314,513	0.05%
186	ISHARES IBONDS DEC 2030 TRM TRSY ETF	46436E593	15,880	$312,201	0.05%
187	FIDELITY WISE ORIGIN BITCOIN FUND	FBTC	4,300	$309,471	0.05%
188	Caterpillar Inc	CAT	938	$309,352	0.05%
189	SPDR SSGA My2029 Municipal Bond ETF	78470P689	11,930	$291,721	0.05%
190	Vanguard FTSE Developed Markets ETF	921943858	5,633	$286,344	0.05%
191	PowerShares Build America Bond ETF	IVZ	10,595	$282,675	0.05%
192	Stryker Corporation	SYK	740	$275,465	0.04%
193	Southern Co	SOMN	2,869	$263,805	0.04%
194	Schwab Short-Term US Treasury ETF(TM)	808524862	10,827	$263,522	0.04%
195	PowerShares Dynamic Large Cap Growth ETF	IVZ	2,532	$243,173	0.04%
196	Wisconsin Energy Corp	WEC	2,182	$237,794	0.04%
197	iShares Russell Mid-Cap	464287499	2,794	$237,686	0.04%
198	Mastercard Inc A	MA	422	$231,307	0.04%
199	iShares Russell 1000 Growth	464287614	610	$220,265	0.04%
200	Schwab Fundamental US Small Company ETF	808524763	7,736	$211,889	0.03%
201	Schwab US Aggregate Bond ETF(TM)	808524839	9,058	$209,783	0.03%
202	iShares iBonds 2026 Corp Bond ETF	46435GAA0	8,521	$206,293	0.03%
203	iShares iBonds 2027 Corp Bond ETF	46435UAA9	8,444	$204,176	0.03%
204	Ameren Corp	AEE	2,025	$203,310	0.03%
205	Johnson Controls Inc	G51502105	2,507	$200,836	0.03%
206	iShares S&P 500 Growth	464287309	2,155	$200,049	0.03%
207	Ford Motor Co	345370860	19,926	$199,857	0.03%