13F HOLDINGS REPORT

Exchange Capital Management, Inc.

Quarter ended Q2 2025 · Filed July 21, 2025 · Accession 0001104659-25-069257

Total Value

$670.0M

Positions

206

Other Managers

Confidential Omitted

View on SEC.gov

Holdings (206)

#	Issuer	Ticker / CUSIP	Shares	Value	% of Filing
1	Microsoft Corp	MSFT	71,967	$35.8M	5.34%
2	Vanguard Sector Index Fds Vanguard Information Tec	92204A702	37,090	$24.6M	3.67%
3	Amazon.com Inc	AMZN	99,253	$21.8M	3.25%
4	Alphabet Inc. CL A	GOOG	116,505	$20.5M	3.06%
5	WisdomTree Dynamic Ccy Hdgd Intl Eq ETF	WT	441,635	$17.5M	2.61%
6	Berkshire Hathaway Inc	BRK-A	30,692	$14.9M	2.23%
7	BlackRock Inc	BLK	12,231	$12.8M	1.92%
8	Vanguard Financials ETF	92204A405	100,023	$12.7M	1.90%
9	iShares Currency Hedged MSCI EAFE	46434V803	325,525	$12.4M	1.84%
10	SPDR Portfolio S&P 400 Mid Cap ETF	78464A847	222,550	$12.1M	1.81%
11	ServiceNow Inc	NOW	11,308	$11.6M	1.74%
12	KLA-Tencor Corp	KLAC	12,683	$11.4M	1.70%
13	SPDR S&P MidCap 400 ETF	MDY	19,852	$11.2M	1.68%
14	Vanguard Health Care ETF	92204A504	44,069	$10.9M	1.63%
15	Salesforce.com Inc	CRM	39,104	$10.7M	1.59%
16	Vanguard Industrials ETF	92204A603	35,523	$9.9M	1.48%
17	Vanguard Consumer Discretionary ETF	92204A108	27,449	$9.9M	1.48%
18	iShares Core S&P Small-Cap	464287804	88,647	$9.7M	1.45%
19	JPMorgan Chase & Co	VYLD	32,762	$9.5M	1.42%
20	Vanguard Telecommunication Services ETF	92204A884	50,313	$8.6M	1.28%
21	Veeva Systems Inc	VEEV	29,276	$8.4M	1.26%
22	Emerson Electric Co	EMR	63,212	$8.4M	1.26%
23	SPDR S&P 600 Small Cap ETF	78468R853	188,609	$8.0M	1.20%
24	Monster Beverage Corp	MNST	124,804	$7.8M	1.17%
25	SPDR S&P 1500 ETF	78464A805	102,545	$7.7M	1.15%
26	Apple Inc	AAPL	35,149	$7.2M	1.08%
27	Fidelity MSCI Information Tech ETF	316092808	34,927	$6.9M	1.03%
28	iShares Core US Aggregate Bond	464287226	68,910	$6.8M	1.02%
29	Guidewire Software Inc	GWRE	27,564	$6.5M	0.97%
30	Raytheon Technologies Ord	RTX	43,362	$6.3M	0.95%
31	BONDBLOXX BBB 1 5 YR COR BND ETF	09789C754	118,577	$6.1M	0.91%
32	Honeywell International Inc	438516106	25,074	$5.8M	0.87%
33	Vanguard Utilities ETF	92204A876	32,423	$5.7M	0.85%
34	iShares Core S&P Mid-Cap	464287507	87,859	$5.4M	0.81%
35	SPDR SSGA MY2029 CORP BND ETF	78470P788	213,531	$5.3M	0.80%
36	Gilead Sciences Inc	GILD	46,147	$5.1M	0.76%
37	Home Depot Inc	HD	13,948	$5.1M	0.76%
38	SPDR SSGA MY2028 CORP BND ETF	78470P796	199,036	$5.0M	0.74%
39	Vanguard Materials ETF	92204A801	25,045	$4.9M	0.73%
40	Cheniere Energy Inc	LNG	19,899	$4.8M	0.72%
41	Comcast Corp	CCZ	133,668	$4.8M	0.71%
42	Visa Inc	V	13,081	$4.6M	0.69%
43	Amgen Inc	AMGN	16,466	$4.6M	0.69%
44	Walt Disney Co	254687106	36,091	$4.5M	0.67%
45	Procter & Gamble Co	742718109	28,085	$4.5M	0.67%
46	Vanguard Consumer Staples ETF	92204A207	20,170	$4.4M	0.66%
47	Merck & Co Inc	MRK	55,616	$4.4M	0.66%
48	Corteva Inc com	CTVA	56,901	$4.2M	0.63%
49	iShares Core MSCI Emerging Markets	46434G103	70,571	$4.2M	0.63%
50	Costco Wholesale Corp	22160K105	4,152	$4.1M	0.61%
51	Kenvue	KVUE	187,366	$3.9M	0.59%
52	Technology Select Sector SPDR ETF	81369Y803	15,101	$3.8M	0.57%
53	Johnson & Johnson	JNJ	24,725	$3.8M	0.56%
54	Schwab US Large-Cap ETF	808524201	151,666	$3.7M	0.55%
55	Starbucks Corp	SBUX	40,253	$3.7M	0.55%
56	Adobe Systems Inc	ADBE	9,294	$3.6M	0.54%
57	Medtronic Inc	MDT	41,026	$3.6M	0.53%
58	WisdomTree International Hedged Quality Dividend G	WT	77,675	$3.5M	0.52%
59	Exxon Mobil Corporation	XOM	32,350	$3.5M	0.52%
60	Invesco BulletShares 2033 Corp Bond ETF	IVZ	161,506	$3.4M	0.51%
61	SPDR SSGA MY2034 CORP BND ETF	78470P739	138,616	$3.4M	0.51%
62	SPDR SSGA MY2030 CORP BND ETF	78470P770	135,739	$3.4M	0.50%
63	McDonald s Corp	MCD	11,245	$3.3M	0.49%
64	Fidelity MSCI Health Care ETF	316092600	49,599	$3.2M	0.47%
65	Invesco BulletShares 2031 Corp Bond ETF	IVZ	188,958	$3.1M	0.47%
66	General Dynamics Corp	GD	10,528	$3.1M	0.46%
67	Lockheed Martin Corp	LMT	6,610	$3.1M	0.46%
68	Invesco BulletShares 2032 Corp Bond ETF	IVZ	148,401	$3.1M	0.46%
69	BNDBLXX BLMBRG 2 YR TRG US TR ETF	09789C853	57,821	$2.9M	0.43%
70	U.S. Bancorp	USB-PS	61,329	$2.8M	0.41%
71	WisdomTree Dyn Ccy Hdgd Intl SmCp Eq ETF	WT	69,995	$2.8M	0.41%
72	Lam Research Corp	LRCX	27,541	$2.7M	0.40%
73	Fidelity MSCI Consumer Discret ETF	316092204	28,357	$2.7M	0.40%
74	SPDR SSGA MY2027 CORP BND ETF	78470P812	104,012	$2.6M	0.39%
75	SPDR SSGA MY2026 CORP BND ETF	78470P820	101,977	$2.6M	0.38%
76	Schwab US Mid-Cap ETF	808524508	90,793	$2.5M	0.38%
77	Bristol-Myers Squibb Company	CELG-RI	54,893	$2.5M	0.38%
78	BNDBLXX BLMBRG 1 YR TRG US TR ETF	09789C861	50,949	$2.5M	0.38%
79	Vanguard Total Stock Market ETF	922908769	8,120	$2.5M	0.37%
80	Microchip Technology Inc	MCHPP	34,857	$2.5M	0.37%
81	PepsiCo Inc	PEP	18,502	$2.4M	0.36%
82	Fidelity MSCI Financials ETF	316092501	31,955	$2.4M	0.35%
83	Fidelity MSCI Industrials ETF	316092709	30,156	$2.3M	0.35%
84	Lowe s Companies Inc	548661107	10,521	$2.3M	0.35%
85	Moody s Corporation	MCO	4,548	$2.3M	0.34%
86	Bank of America Corporation	060505104	48,105	$2.3M	0.34%
87	SPDR Kensho Clean Power ETF	78468R655	36,344	$2.2M	0.32%
88	Equifax Inc	EFX	7,857	$2.0M	0.30%
89	Vanguard FTSE Emerging Markets ETF	922042858	41,177	$2.0M	0.30%
90	Fidelity MSCI Telecommunication Svc ETF	316092873	30,879	$2.0M	0.30%
91	Ecolab Inc	ECL	7,224	$1.9M	0.29%
92	Zimmer Biomet Holdings INC	ZBH	21,301	$1.9M	0.29%
93	Accenture PLC	ACN	6,474	$1.9M	0.29%
94	Fortinet, Inc.	FTNT	17,588	$1.9M	0.28%
95	Alphabet Inc. CL C	GOOG	10,361	$1.8M	0.27%
96	Roper Industries Inc	ROP	3,122	$1.8M	0.26%
97	SPDR S&P 500 ETF	SPY	2,821	$1.7M	0.26%
98	Invesco BulletShares 2025 Corp Bond ETF	IVZ	84,095	$1.7M	0.26%
99	Valero Energy Corp	VLO	12,775	$1.7M	0.26%
100	iShares Core S&P 500	464287200	2,693	$1.7M	0.25%
101	SPDR SSGA MY2033 CORP BND ETF NV	78470P747	66,095	$1.6M	0.24%
102	Schwab US Small-Cap ETF	808524607	63,477	$1.6M	0.24%
103	WisdomTree EmMkts ex-Stt-Ownd EntrprsETF	WT	45,901	$1.6M	0.24%
104	Applied Materials Inc	038222105	8,295	$1.5M	0.23%
105	Intercontinental Exchange Inc	45866F104	8,132	$1.5M	0.22%
106	SPDR SSGA MY2032 CORP BND ETF	78470P754	59,411	$1.5M	0.22%
107	Invesco BulletShares 2030 Corp Bond ETF	IVZ	85,197	$1.4M	0.21%
108	SPDR SSGA MY2031 CORP BND ETF	78470P762	54,542	$1.4M	0.20%
109	Consumer Discret Sel Sect SPDR ETF	81369Y407	6,130	$1.3M	0.20%
110	S&Pglobal Inc Com	SPGI	2,516	$1.3M	0.20%
111	Eli Lilly and Co	LLY	1,702	$1.3M	0.20%
112	Industrial Select Sector SPDR ETF	81369Y704	8,979	$1.3M	0.20%
113	Clorox Co	CLX	10,871	$1.3M	0.19%
114	GlaxoSmithKline PLC	GLAXF	33,503	$1.3M	0.19%
115	QCR Holdings Inc	QCRH	18,250	$1.2M	0.18%
116	iShares Short-Term National Muni Bond	464288158	11,487	$1.2M	0.18%
117	Domino s Pizza Inc	DPZ	2,682	$1.2M	0.18%
118	Ishares Ibonds Dec 2033 Term Treasury ETF	46436E148	49,151	$1.2M	0.18%
119	iShares iBonds 2025 Corp Bond ETF	46434VBD1	47,115	$1.2M	0.18%
120	BNDBLXX BLMBRG 3 YR TRG US TR ETF	09789C846	22,875	$1.1M	0.17%
121	Unilever PLC	UNLYF	18,588	$1.1M	0.17%
122	Union Pacific Corp	UNP	4,892	$1.1M	0.17%
123	Workday Inc	WDAY	4,516	$1.1M	0.16%
124	WisdomTree Emerging Mkts Qual Div Gr ETF	WT	38,909	$1.1M	0.16%
125	Fidelity MSCI Consumer Staples ETF	316092303	20,562	$1.1M	0.16%
126	CME Group Inc	CME	3,771	$1.0M	0.16%
127	Masco Corp	MAS	16,079	$1.0M	0.15%
128	WisdomTree Emerging Markets SmCp Div ETF	WT	18,225	$1.0M	0.15%
129	ASML Holding NV	ASMLF	1,243	$996,128	0.15%
130	Schwab US Broad Market ETF	808524102	39,842	$949,433	0.14%
131	SPDR SSGA MY2026 MUNI BND ETF IV	78470P721	37,678	$936,863	0.14%
132	Autodesk Inc.	ADSK	3,008	$931,187	0.14%
133	Nike Inc	NKE	12,665	$899,728	0.13%
134	Linde plc	LIN	1,876	$880,182	0.13%
135	iShares National AMT-Free Muni Bond	464288414	8,324	$869,692	0.13%
136	SPDR SSGA MY2027 MUNI BND ETF NV	78470P713	34,988	$860,880	0.13%
137	Invesco BulletShares 2029 Corp Bond ETF	IVZ	44,830	$838,321	0.13%
138	Fidelity MSCI Materials ETF	316092881	16,543	$824,979	0.12%
139	Oracle Corporation	ORCL-PD	3,756	$821,174	0.12%
140	Vanguard Small-Cap ETF	922908751	3,436	$814,292	0.12%
141	iShares Global Clean Energy	464288224	61,183	$802,106	0.12%
142	Pfizer Inc	PFE	33,079	$801,826	0.12%
143	Coca-Cola Co	KO	11,327	$801,419	0.12%
144	Vanguard Sector Index Fds Vanguard Energy Etf	92204A306	6,557	$781,019	0.12%
145	NextEra Energy Inc	NEE-PW	11,170	$775,421	0.12%
146	SPDR SSGA My2030 Municipal Bond ETF	78470P671	31,663	$775,110	0.12%
147	Canadian National Railway Co	136375102	7,038	$732,234	0.11%
148	SPDR SSGA MY2028 MUNI BND ETF	78470P697	28,138	$688,115	0.10%
149	General Electric Co	369604301	2,613	$672,560	0.10%
150	Charles Schwab Corp	SCHW-PJ	7,365	$671,983	0.10%
151	Vanguard Tax-Exempt Bond ETF	922907746	13,669	$670,191	0.10%
152	Invesco BulletShares 2028 Corp Bond ETF	IVZ	32,321	$662,257	0.10%
153	Broadcom Inc Com	AVGO	2,219	$611,734	0.09%
154	iShares iBonds 2025 Muni Bond ETF	46435U432	22,710	$607,799	0.09%
155	3M Co	MMM	3,881	$590,853	0.09%
156	Wal-Mart Stores Inc	WMT	6,034	$589,998	0.09%
157	SPDR SSGA My2029 Municipal Bond ETF	78470P689	24,170	$589,990	0.09%
158	BNDBLXX BLMBRG 6 MNTH TRG US TR ETF	09789C788	11,692	$588,594	0.09%
159	Invesco BulletShares 2026 Corp Bond ETF	IVZ	29,883	$583,316	0.09%
160	CMS Energy Corp	CMS-PC	8,360	$579,210	0.09%
161	Invesco BulletShares 2027 Corp Bond ETF	IVZ	28,130	$552,755	0.08%
162	AT&T Inc	T-PC	17,931	$518,916	0.08%
163	MarketAxess Holdings Inc	MKTX	2,270	$506,982	0.08%
164	Fidelity MSCI Utilities ETF	316092865	9,242	$486,148	0.07%
165	Teradyne Inc	TER	5,225	$469,832	0.07%
166	iShares MSCI Emerging Mkts ex China ETF	46434G764	7,401	$467,299	0.07%
167	Global X S&P 500 Catholic Values ETF	37954Y889	6,148	$463,867	0.07%
168	Chevron Corp	CVX	3,200	$458,208	0.07%
169	Core Laboratories NV	CLB	35,489	$408,833	0.06%
170	DIMENSIONAL U S CORE EQUITY 2 ETF	25434V708	11,387	$408,110	0.06%
171	FIDELITY WISE ORIGIN BITCOIN FUND	FBTC	4,300	$404,157	0.06%
172	Financial Select Sector SPDR ETF	81369Y605	7,569	$396,389	0.06%
173	iShares iBonds 2029 Muni Bond ETF	46436E163	15,629	$394,320	0.06%
174	Caterpillar Inc	CAT	1,011	$392,480	0.06%
175	Comerica Inc	200340107	6,518	$388,799	0.06%
176	iShares iBonds 2026 Muni Bond ETF	46435U259	14,899	$381,757	0.06%
177	iShares iBonds 2028 Muni Bond ETF	46435U325	14,484	$368,038	0.05%
178	Verizon Communications Inc	VZ	8,375	$362,372	0.05%
179	iShares iBonds 2027 Muni Bond ETF	46435U283	13,951	$353,658	0.05%
180	Health Care Select Sector SPDR ETF	81369Y209	2,559	$344,928	0.05%
181	Vanguard 500 ETF	922908363	602	$341,954	0.05%
182	Ge Vernova Llc Com	GEV	633	$334,952	0.05%
183	Materials Select Sector SPDR ETF	81369Y100	3,726	$327,145	0.05%
184	ISHARES IBONDS DEC 2030 TRM TRSY ETF	46436E593	16,239	$322,182	0.05%
185	Abbvie Inc	ABBV	1,716	$318,524	0.05%
186	Invesco FTSE RAFI US 1000 ETF	IVZ	7,485	$316,391	0.05%
187	SPDR S&P Bank ETF	78464A797	5,495	$306,401	0.05%
188	Stryker Corporation	SYK	754	$298,305	0.04%
189	PowerShares Dynamic Large Cap Growth ETF	IVZ	2,532	$297,358	0.04%
190	Southern Co	SOMN	3,120	$286,510	0.04%
191	iShares Russell 1000 Growth	464287614	653	$277,251	0.04%
192	Vanguard FTSE Developed Markets ETF	921943858	4,729	$269,621	0.04%
193	Johnson Controls Inc	G51502105	2,507	$264,789	0.04%
194	UnitedHealth Group Inc	UNH	838	$261,431	0.04%
195	Schwab Short-Term US Treasury ETF	808524862	10,651	$259,664	0.04%
196	iShares Russell Mid-Cap	464287499	2,794	$256,964	0.04%
197	NVIDIA Corp	NVDA	1,586	$250,578	0.04%
198	ISHARES IBONDS TERM TREASURY ETF	46436E833	11,179	$249,962	0.04%
199	Palo Alto Networks Inc	PANW	1,217	$249,047	0.04%
200	iShares MSCI ACWI ETF	464288257	1,865	$239,805	0.04%
201	iShares S&P 500 Growth	464287309	2,155	$237,266	0.04%
202	Mastercard Inc A	MA	413	$232,081	0.03%
203	Schwab Fundamental US Small Company ETF	808524763	7,736	$221,636	0.03%
204	iShares iBonds 2026 Corp Bond ETF	46435GAA0	8,521	$206,634	0.03%
205	iShares iBonds 2027 Corp Bond ETF	46435UAA9	8,444	$204,936	0.03%
206	Ford Motor Co	345370860	18,791	$203,886	0.03%