13F HOLDINGS REPORT

Exchange Bank

Quarter ended Q2 2025 · Filed July 9, 2025 · Accession 0002001155-25-000003

Total Value

$126.4M

Positions

193

Other Managers

Confidential Omitted

View on SEC.gov

Holdings (193)

#	Issuer	Ticker / CUSIP	Shares	Value	% of Filing
1	ISHARES NATIONAL AMT-FREE MUNI	464288414	51,375	$5.4M	4.25%
2	APPLE INC	AAPL	21,743	$4.5M	3.53%
3	VANGUARD TOTAL STOCK MARKET ETF	922908769	12,657	$3.8M	3.04%
4	JOHNSON & JOHNSON	JNJ	23,450	$3.6M	2.83%
5	MICROSOFT CORP	MSFT	7,038	$3.5M	2.77%
6	CHEVRON CORP	CVX	21,630	$3.1M	2.45%
7	WALMART INC	WMT	30,126	$2.9M	2.33%
8	VANGUARD TOTAL BOND MARKET ETF	921937835	39,474	$2.9M	2.30%
9	CATERPILLAR INC	CAT	7,405	$2.9M	2.28%
10	JP MORGAN CHASE & CO	VYLD	9,863	$2.9M	2.26%
11	ISHARES CORE TOTAL US BOND	464287226	28,053	$2.8M	2.20%
12	PROCTER & GAMBLE CO	742718109	16,464	$2.6M	2.08%
13	EXXON MOBIL CORP	XOM	23,858	$2.6M	2.04%
14	BERKSHIRE HATHAWAY INC	BRK-A	3	$2.2M	1.73%
15	INTERNATIONAL BUSINESS MACHS	INTR	7,061	$2.1M	1.65%
16	COCA-COLA CO	KO	29,125	$2.1M	1.63%
17	PHILIP MORRIS INTERNATIONAL INC	718172109	11,143	$2.0M	1.61%
18	UNION PACIFIC CORP	UNP	8,820	$2.0M	1.61%
19	SCHWAB US BROAD MARKET ETFT	808524102	77,350	$1.8M	1.46%
20	NVIDIA CORP	NVDA	11,429	$1.8M	1.43%
21	AUTOMATIC DATA PROCESSING INC	ADP	5,810	$1.8M	1.42%
22	SPDR S&P 500 ETF	SPY	2,887	$1.8M	1.41%
23	ISHARES CORE S&P MID-CAP (MKT)	464287507	27,558	$1.7M	1.35%
24	NORFOLK SOUTHERN CORP	655844108	5,556	$1.4M	1.13%
25	TEXAS INSTRUMENTS INC	882508104	6,779	$1.4M	1.11%
26	BRISTOL-MYERS SQUIBB CO	CELG-RI	29,306	$1.4M	1.07%
27	MARSH & MCLENNAN COS INC	571748102	6,164	$1.3M	1.07%
28	ALPHABET INC	GOOG	7,640	$1.3M	1.07%
29	AMAZON COM INC SR	AMZN	5,639	$1.2M	0.98%
30	VANGUARD SHORT-TERM CORP BD IDX	92206C409	15,265	$1.2M	0.96%
31	ISHARES SHORT-TERM CORPORATE	464288646	22,163	$1.2M	0.93%
32	ISHARES CORE INTERNATIONAL	46435G672	22,592	$1.2M	0.91%
33	MICROSOFT CORP	MSFT	2,311	$1.1M	0.91%
34	MERCK & CO INC	MRK	14,519	$1.1M	0.91%
35	ORACLE CORP	ORCL-PD	5,176	$1.1M	0.90%
36	ISHARES ST NATIONAL AMTFREE MUNI	464288158	10,435	$1.1M	0.88%
37	ALPHABET INC	GOOG	5,922	$1.1M	0.83%
38	APPLE INC	AAPL	5,068	$1.0M	0.82%
39	PROCTER & GAMBLE CO	742718109	6,248	$995,431	0.79%
40	TARGET CORP	TGT	9,891	$975,749	0.77%
41	NEXTERA ENERGY INC	NEE-PW	13,361	$927,521	0.73%
42	ELI LILLY & CO	LLY	1,087	$847,349	0.67%
43	GLOBE LIFE INC	GL-PD	6,750	$838,958	0.66%
44	VANGUARD FTSE DEVELOPED MARKETS	921943858	14,273	$813,704	0.64%
45	ALTRIA GROUP INC	MO	13,840	$811,441	0.64%
46	GE AEROSPACE	369604301	3,032	$780,407	0.62%
47	HONEYWELL INTERNATIONAL INC	438516106	3,249	$756,625	0.60%
48	BERKSHIRE HATHAWAY INC	BRK-A	1,557	$756,343	0.60%
49	HOME DEPOT INC	HD	2,056	$753,809	0.60%
50	ISHARES FALN ANGLS USD BD ETF	46435G474	27,183	$737,747	0.58%
51	ISHARES MSCI EAFE (MKT)	464287465	8,207	$733,625	0.58%
52	COSTCO WHOLESALE CORP	22160K105	735	$727,606	0.58%
53	AVANTIS INTL SMALL CAP VAL ETF	025072802	8,629	$684,106	0.54%
54	MONDELEZ INTL INC	609207105	9,983	$673,254	0.53%
55	ISHARES RUSSELL 2000 (MKT)	464287655	2,993	$645,860	0.51%
56	AMERICAN EXPRESS CO	AXP	2,011	$641,470	0.51%
57	HUNTINGTON BANCSHARES INC	HBANP	38,024	$637,282	0.50%
58	SPDR BOFA ML CROSSOVER CORP BOND	78468R606	26,369	$627,581	0.50%
59	ISHARES CORE TOTAL US BOND	464287226	6,220	$617,024	0.49%
60	FEDEX CORP	FDX	2,703	$614,418	0.49%
61	BANK OF NEW YORK MELLON CORP	064058100	6,735	$613,626	0.49%
62	VANGUARD SMALL CAP VALUE ETF	922908611	3,127	$609,798	0.48%
63	ISHARES MSCI USA MINIMUM	46429B697	6,300	$591,381	0.47%
64	BROADCOM INC COM	AVGO	2,119	$584,103	0.46%
65	MCDONALDS CORP	MCD	1,988	$580,834	0.46%
66	META PLATFORMS INC	META	751	$554,306	0.44%
67	ISHARES CORE S&P 500 (MKT)	464287200	892	$553,845	0.44%
68	ISHARES GOLD TRUST	IAU	8,785	$547,832	0.43%
69	BROADRIDGE FINANCIAL SOLUTIONS	11133T103	2,250	$546,818	0.43%
70	PEPSICO INC	PEP	4,128	$545,061	0.43%
71	ISHARES ESG1 5 YR USD BD ETF	46435G243	21,166	$532,748	0.42%
72	VANGUARD S&P 500 ETF (MKT)	922908363	919	$522,020	0.41%
73	LOWES COMPANIES INC	548661107	2,338	$518,734	0.41%
74	ISHARES CORE S&P SMALL-CAP (MKT)	464287804	4,503	$492,135	0.39%
75	BECTON DICKINSON & CO	BDX	2,837	$488,674	0.39%
76	3M CO	MMM	3,008	$457,939	0.36%
77	PFIZER INC	PFE	18,674	$452,657	0.36%
78	CISCO SYSTEMS INC	CSCO	6,425	$445,767	0.35%
79	WALT DISNEY CO	254687106	3,582	$444,203	0.35%
80	VISA INC	V	1,227	$435,648	0.34%
81	AGILENT TECHNOLOGIES INC	A	3,504	$413,508	0.33%
82	NETFLIX INC	NFLX	308	$412,453	0.33%
83	ISHARES INTERMEDIATE-TERM	464288638	7,672	$408,841	0.32%
84	ISHARES MSCI USA QUALITY FACTOR	46432F339	2,231	$407,872	0.32%
85	GE VERNOVA INC	GEV	733	$387,867	0.31%
86	VANGUARD EMERGING MARKETS STOCK	922042858	7,553	$373,573	0.30%
87	DUKE ENERGY CORP	DUKB	3,045	$359,310	0.28%
88	BLACKROCK INC	BLK	338	$354,650	0.28%
89	BOOKING HLDGS INC	BKNG	61	$353,143	0.28%
90	MASTERCARD INC	MA	624	$350,651	0.28%
91	EMERSON ELECTRIC CO	EMR	2,617	$348,926	0.28%
92	VANGUARD HIGH DIVIDEND YIELD	921946406	2,577	$343,540	0.27%
93	VANGUARD REAL ESTATE ETF	922908553	3,750	$333,976	0.26%
94	JP MORGAN CHASE & CO	VYLD	1,129	$327,309	0.26%
95	ADOBE SYSTEMS INC	ADBE	833	$322,272	0.26%
96	MASTERCARD INC	MA	570	$320,305	0.25%
97	ILLINOIS TOOL WORKS INC	452308109	1,237	$305,850	0.24%
98	ISHARES CORE S&P MID-CAP (MKT)	464287507	4,800	$297,696	0.24%
99	NORTHROP GRUMMAN CORP	NOC	593	$296,489	0.23%
100	GLOBAL X US INFRASTRUCTURE ETF	37954Y673	6,651	$289,851	0.23%
101	AON PLC SHS CL A	AON	805	$287,192	0.23%
102	DUPONT DE NEMOURS INC	DD	4,079	$279,779	0.22%
103	RTX CORPORATION	RTX	1,910	$278,898	0.22%
104	VANGUARD TOTAL BOND MARKET ETF	921937835	3,755	$276,481	0.22%
105	JOHNSON & JOHNSON	JNJ	1,782	$272,202	0.22%
106	CSX CORP	CSX	7,933	$258,854	0.20%
107	AMERICAN EXPRESS CO	AXP	808	$257,736	0.20%
108	AT&T INC	T-PC	8,848	$256,061	0.20%
109	ALPHABET INC	GOOG	1,388	$244,609	0.19%
110	INTERNATIONAL BUSINESS MACHS	INTR	765	$225,507	0.18%
111	UNITEDHEALTH GROUP INC	UNH	708	$220,875	0.17%
112	SERVICENOW INC SR CV	NOW	213	$218,980	0.17%
113	ABBVIE INC	ABBV	1,154	$214,207	0.17%
114	PNC FINANCIAL SERVICES GROUP	693475105	1,140	$212,519	0.17%
115	THE TRAVELERS COMPANIES INC	TRV	790	$211,356	0.17%
116	AMERICAN CENTURY US QUALITY	025072307	1,928	$210,383	0.17%
117	ISHARES FLOATING RATE BOND (MKT)	46429B655	4,080	$208,162	0.16%
118	SPDR NUVEEN ICE MUNICIPAL BOND	78468R721	4,622	$206,465	0.16%
119	MICROCHIP TECHNOLOGY INC	MCHPP	2,932	$206,325	0.16%
120	BOEING CO	BA-PA	978	$204,920	0.16%
121	CAPITAL ONE FINANCIAL CORP	14040H105	927	$197,229	0.16%
122	GENUINE PARTS CO	GPC	1,604	$194,583	0.15%
123	UNION PACIFIC CORP	UNP	817	$187,975	0.15%
124	QUALCOMM INC	QCOM	1,173	$186,812	0.15%
125	MEDTRONIC PLC	MDT	2,082	$181,487	0.14%
126	SALESFORCE	CRM	634	$172,885	0.14%
127	CHEVRON CORP	CVX	1,207	$172,830	0.14%
128	TAIWAN SEMICONDUCTOR	874039100	761	$172,359	0.14%
129	ABBOTT LABORATORIES	ABLZF	1,249	$169,876	0.13%
130	HOME DEPOT INC	HD	461	$169,021	0.13%
131	UNITED PARCEL SERVICE	UPS	1,645	$166,047	0.13%
132	ACCENTURE PLC	ACN	535	$159,907	0.13%
133	ABBVIE INC	ABBV	822	$152,580	0.12%
134	CISCO SYSTEMS INC	CSCO	2,103	$145,906	0.12%
135	BLACKROCK INC	BLK	138	$144,796	0.11%
136	LOCKHEED MARTIN CORP	LMT	305	$141,259	0.11%
137	PEPSICO INC	PEP	1,051	$138,774	0.11%
138	BANK OF AMERICA CORP	060505104	2,908	$137,607	0.11%
139	LINDE PLC	LIN	288	$135,124	0.11%
140	ILLINOIS TOOL WORKS INC	452308109	532	$131,537	0.10%
141	EXXON MOBIL CORP	XOM	1,134	$122,245	0.10%
142	NVIDIA CORP	NVDA	735	$116,123	0.09%
143	ISHARES CORE S&P SMALL-CAP (MKT)	464287804	1,055	$115,301	0.09%
144	ALPHABET INC	GOOG	624	$110,691	0.09%
145	VISA INC	V	301	$106,870	0.08%
146	LOCKHEED MARTIN CORP	LMT	229	$106,059	0.08%
147	EMERSON ELECTRIC CO	EMR	768	$102,397	0.08%
148	AMAZON COM INC SR	AMZN	456	$100,042	0.08%
149	COCA-COLA CO	KO	1,348	$95,372	0.08%
150	HONEYWELL INTERNATIONAL INC	438516106	409	$95,248	0.08%
151	WALMART INC	WMT	945	$92,402	0.07%
152	META PLATFORMS INC	META	120	$88,571	0.07%
153	COSTCO WHOLESALE CORP	22160K105	89	$88,105	0.07%
154	MONDELEZ INTL INC	609207105	1,161	$78,298	0.06%
155	VANGUARD SHORT-TERM CORP BD IDX	92206C409	975	$77,513	0.06%
156	ACCENTURE PLC	ACN	257	$76,814	0.06%
157	ADOBE SYSTEMS INC	ADBE	196	$75,828	0.06%
158	BANK OF NEW YORK MELLON CORP	064058100	820	$74,710	0.06%
159	TARGET CORP	TGT	735	$72,508	0.06%
160	TAIWAN SEMICONDUCTOR	874039100	318	$72,024	0.06%
161	MEDTRONIC PLC	MDT	810	$70,608	0.06%
162	BERKSHIRE HATHAWAY INC	BRK-A	145	$70,437	0.06%
163	LINDE PLC	LIN	148	$69,438	0.05%
164	MCDONALDS CORP	MCD	233	$68,076	0.05%
165	ELI LILLY & CO	LLY	86	$67,039	0.05%
166	CATERPILLAR INC	CAT	170	$65,996	0.05%
167	BANK OF AMERICA CORP	060505104	1,331	$62,983	0.05%
168	RTX CORPORATION	RTX	410	$59,868	0.05%
169	AT&T INC	T-PC	1,949	$56,404	0.04%
170	PFIZER INC	PFE	2,231	$54,079	0.04%
171	3M CO	MMM	355	$54,045	0.04%
172	QUALCOMM INC	QCOM	312	$49,689	0.04%
173	VANGUARD REAL ESTATE ETF	922908553	550	$48,983	0.04%
174	BOOKING HLDGS INC	BKNG	8	$46,314	0.04%
175	CAPITAL ONE FINANCIAL CORP	14040H105	188	$39,998	0.03%
176	UNITED PARCEL SERVICE	UPS	394	$39,771	0.03%
177	SALESFORCE	CRM	130	$35,450	0.03%
178	MICROCHIP TECHNOLOGY INC	MCHPP	500	$35,185	0.03%
179	ABBOTT LABORATORIES	ABLZF	238	$32,370	0.03%
180	PHILIP MORRIS INTERNATIONAL INC	718172109	175	$31,873	0.03%
181	ISHARES FALN ANGLS USD BD ETF	46435G474	1,064	$28,877	0.02%
182	VANGUARD EMERGING MARKETS STOCK	922042858	580	$28,687	0.02%
183	ALTRIA GROUP INC	MO	477	$27,967	0.02%
184	GENUINE PARTS CO	GPC	225	$27,295	0.02%
185	VANGUARD S&P 500 ETF (MKT)	922908363	45	$25,561	0.02%
186	NEXTERA ENERGY INC	NEE-PW	344	$23,880	0.02%
187	MERCK & CO INC	MRK	272	$21,532	0.02%
188	VANGUARD FTSE DEVELOPED MARKETS	921943858	313	$17,844	0.01%
189	UNITEDHEALTH GROUP INC	UNH	56	$17,470	0.01%
190	DUPONT DE NEMOURS INC	DD	251	$17,216	0.01%
191	PNC FINANCIAL SERVICES GROUP	693475105	90	$16,778	0.01%
192	BRISTOL-MYERS SQUIBB CO	CELG-RI	319	$14,767	0.01%
193	BOEING CO	BA-PA	10	$2,095	0.00%