13F HOLDINGS REPORT

Exchange Bank

Quarter ended Q3 2025 · Filed October 31, 2025 · Accession 0002001155-25-000005

Total Value

$144.1M

Positions

193

Other Managers

Confidential Omitted

View on SEC.gov

Holdings (193)

#	Issuer	Ticker / CUSIP	Shares	Value	% of Filing
1	APPLE INC	AAPL	22,450	$5.7M	3.97%
2	ISHARES NATIONAL AMT-FREE MUNI	464288414	51,375	$5.5M	3.80%
3	JOHNSON & JOHNSON	JNJ	28,073	$5.2M	3.61%
4	VANGUARD TOTAL STOCK MARKET ETF	922908769	12,665	$4.2M	2.88%
5	CATERPILLAR INC	CAT	8,068	$3.8M	2.67%
6	MICROSOFT CORP	MSFT	7,359	$3.8M	2.65%
7	CHEVRON CORP	CVX	21,852	$3.4M	2.36%
8	JP MORGAN CHASE & CO	VYLD	10,675	$3.4M	2.34%
9	VANGUARD TOTAL BOND MARKET ETF	921937835	44,009	$3.3M	2.27%
10	INTERNATIONAL BUSINESS MACHS	INTR	10,961	$3.1M	2.15%
11	ISHARES CORE TOTAL US BOND	464287226	30,780	$3.1M	2.14%
12	WALMART INC	WMT	29,822	$3.1M	2.13%
13	EXXON MOBIL CORP	XOM	24,656	$2.8M	1.93%
14	PROCTER & GAMBLE CO	742718109	18,061	$2.8M	1.93%
15	NVIDIA CORP	NVDA	12,329	$2.3M	1.60%
16	BERKSHIRE HATHAWAY INC	BRK-A	3	$2.3M	1.57%
17	UNION PACIFIC CORP	UNP	9,007	$2.1M	1.48%
18	ALPHABET INC	GOOG	8,244	$2.0M	1.39%
19	SCHWAB US BROAD MARKET ETFT	808524102	77,350	$2.0M	1.38%
20	COCA-COLA CO	KO	29,082	$1.9M	1.34%
21	SPDR S&P 500 ETF	SPY	2,887	$1.9M	1.33%
22	ISHARES CORE S&P MID-CAP (MKT)	464287507	27,865	$1.8M	1.26%
23	PHILIP MORRIS INTERNATIONAL INC	718172109	11,127	$1.8M	1.25%
24	ORACLE CORP	ORCL-PD	6,387	$1.8M	1.25%
25	AUTOMATIC DATA PROCESSING INC	ADP	5,810	$1.7M	1.18%
26	NORFOLK SOUTHERN CORP	655844108	5,456	$1.6M	1.14%
27	APPLE INC	AAPL	5,842	$1.5M	1.03%
28	ALPHABET INC	GOOG	5,879	$1.4M	0.99%
29	MICROSOFT CORP	MSFT	2,669	$1.4M	0.96%
30	AMAZON COM INC SR	AMZN	6,262	$1.4M	0.95%
31	BRISTOL-MYERS SQUIBB CO	CELG-RI	29,306	$1.3M	0.92%
32	ISHARES CORE INTERNATIONAL	46435G672	25,043	$1.3M	0.89%
33	VANGUARD SHORT-TERM CORP BD IDX	92206C409	15,878	$1.3M	0.88%
34	TEXAS INSTRUMENTS INC	882508104	6,779	$1.2M	0.86%
35	MARSH & MCLENNAN COS INC	571748102	6,164	$1.2M	0.86%
36	MERCK & CO INC	MRK	14,519	$1.2M	0.85%
37	GE AEROSPACE	369604301	4,019	$1.2M	0.84%
38	ISHARES SHORT-TERM CORPORATE	464288646	22,163	$1.2M	0.82%
39	ISHARES ST NATIONAL AMTFREE MUNI	464288158	10,435	$1.1M	0.77%
40	NEXTERA ENERGY INC	NEE-PW	13,706	$1.0M	0.72%
41	HOME DEPOT INC	HD	2,547	$1.0M	0.72%
42	GLOBE LIFE INC	GL-PD	6,750	$965,048	0.67%
43	PROCTER & GAMBLE CO	742718109	6,082	$934,499	0.65%
44	ALTRIA GROUP INC	MO	13,690	$904,362	0.63%
45	ELI LILLY & CO	LLY	1,162	$886,606	0.62%
46	TARGET CORP	TGT	9,709	$870,898	0.60%
47	VANGUARD FTSE DEVELOPED MARKETS	921943858	14,368	$860,930	0.60%
48	BERKSHIRE HATHAWAY INC	BRK-A	1,607	$807,902	0.56%
49	AVANTIS INTL SMALL CAP VAL ETF	025072802	8,629	$768,240	0.53%
50	ISHARES MSCI EAFE (MKT)	464287465	8,207	$766,287	0.53%
51	BROADCOM INC COM	AVGO	2,263	$746,585	0.52%
52	MCDONALDS CORP	MCD	2,436	$740,277	0.51%
53	BANK OF NEW YORK MELLON CORP	064058100	6,735	$733,845	0.51%
54	ISHARES RUSSELL 2000 (MKT)	464287655	2,993	$724,186	0.50%
55	ISHARES CORE S&P 500 (MKT)	464287200	1,079	$722,176	0.50%
56	ISHARES FALN ANGLS USD BD ETF	46435G474	25,326	$703,556	0.49%
57	HONEYWELL INTERNATIONAL INC	438516106	3,315	$697,814	0.48%
58	FEDEX CORP	FDX	2,953	$696,347	0.48%
59	COSTCO WHOLESALE CORP	22160K105	731	$676,635	0.47%
60	ISHARES GOLD TRUST	IAU	9,269	$674,505	0.47%
61	PFIZER INC	PFE	26,203	$667,649	0.46%
62	HUNTINGTON BANCSHARES INC	HBANP	38,024	$656,674	0.46%
63	AMERICAN EXPRESS CO	AXP	1,966	$653,026	0.45%
64	BOEING CO	BA-PA	2,978	$642,741	0.45%
65	META PLATFORMS INC	META	874	$641,848	0.45%
66	SPDR BOFA ML CROSSOVER CORP BOND	78468R606	26,469	$633,669	0.44%
67	MONDELEZ INTL INC	609207105	9,983	$623,638	0.43%
68	ISHARES CORE TOTAL US BOND	464287226	6,220	$623,555	0.43%
69	GE VERNOVA INC	GEV	983	$604,448	0.42%
70	ISHARES MSCI USA MINIMUM	46429B697	6,300	$599,382	0.42%
71	LOWES COMPANIES INC	548661107	2,320	$583,042	0.40%
72	PEPSICO INC	PEP	4,070	$571,588	0.40%
73	VANGUARD S&P 500 ETF (MKT)	922908363	919	$562,778	0.39%
74	NVIDIA CORP	NVDA	2,940	$548,545	0.38%
75	BROADRIDGE FINANCIAL SOLUTIONS	11133T103	2,250	$535,883	0.37%
76	ISHARES ESG1 5 YR USD BD ETF	46435G243	21,166	$535,712	0.37%
77	ISHARES CORE S&P SMALL-CAP (MKT)	464287804	4,471	$531,288	0.37%
78	BECTON DICKINSON & CO	BDX	2,837	$531,001	0.37%
79	ISHARES MSCI USA QUALITY FACTOR	46432F339	2,684	$522,042	0.36%
80	VISA INC	V	1,521	$519,238	0.36%
81	RTX CORPORATION	RTX	2,893	$484,086	0.34%
82	3M CO	MMM	3,050	$473,300	0.33%
83	EMERSON ELECTRIC CO	EMR	3,539	$464,247	0.32%
84	VANGUARD EMERGING MARKETS STOCK	922042858	8,489	$459,935	0.32%
85	VANGUARD SMALL CAP VALUE ETF	922908611	2,199	$458,954	0.32%
86	AGILENT TECHNOLOGIES INC	A	3,404	$436,904	0.30%
87	AMPHENOL CORP	032095101	3,523	$435,971	0.30%
88	CISCO SYSTEMS INC	CSCO	6,309	$431,663	0.30%
89	AMAZON COM INC SR	AMZN	1,903	$417,842	0.29%
90	ISHARES INTERMEDIATE-TERM	464288638	7,672	$414,978	0.29%
91	WALT DISNEY CO	254687106	3,602	$412,433	0.29%
92	BLACKROCK INC	BLK	334	$389,398	0.27%
93	NETFLIX INC	NFLX	321	$384,854	0.27%
94	DUKE ENERGY CORP	DUKB	3,045	$376,821	0.26%
95	VANGUARD HIGH DIVIDEND YIELD	921946406	2,666	$375,774	0.26%
96	ALPHABET INC	GOOG	1,484	$360,762	0.25%
97	ILLINOIS TOOL WORKS INC	452308109	1,367	$356,459	0.25%
98	MASTERCARD INC	MA	624	$354,937	0.25%
99	NORTHROP GRUMMAN CORP	NOC	559	$340,611	0.24%
100	META PLATFORMS INC	META	455	$334,143	0.23%
101	JOHNSON & JOHNSON	JNJ	1,782	$330,418	0.23%
102	BROADCOM INC COM	AVGO	1,001	$330,240	0.23%
103	BOOKING HLDGS INC	BKNG	61	$329,355	0.23%
104	MASTERCARD INC	MA	570	$324,220	0.23%
105	DUPONT DE NEMOURS INC	DD	4,107	$319,935	0.22%
106	JP MORGAN CHASE & CO	VYLD	1,010	$318,584	0.22%
107	GLOBAL X US INFRASTRUCTURE ETF	37954Y673	6,651	$316,787	0.22%
108	ABBVIE INC	ABBV	1,354	$313,505	0.22%
109	ISHARES CORE S&P MID-CAP (MKT)	464287507	4,800	$313,248	0.22%
110	ABBOTT LABORATORIES	ABLZF	2,205	$295,338	0.20%
111	ADOBE SYSTEMS INC	ADBE	823	$290,316	0.20%
112	AON PLC SHS CL A	AON	805	$287,046	0.20%
113	CSX CORP	CSX	7,895	$280,352	0.19%
114	VANGUARD TOTAL BOND MARKET ETF	921937835	3,755	$279,259	0.19%
115	VISA INC	V	790	$269,691	0.19%
116	NORTHERN TRUST CORP	NTRSO	2,000	$269,200	0.19%
117	AMERICAN EXPRESS CO	AXP	713	$236,830	0.16%
118	PNC FINANCIAL SERVICES GROUP	693475105	1,140	$229,061	0.16%
119	TAIWAN SEMICONDUCTOR	874039100	810	$226,226	0.16%
120	TESLA INC	TSLA	504	$224,139	0.16%
121	UNITEDHEALTH GROUP INC	UNH	637	$219,957	0.15%
122	GENERAL MILLS INC	370334104	4,350	$219,327	0.15%
123	UNION PACIFIC CORP	UNP	924	$218,405	0.15%
124	INTERNATIONAL BUSINESS MACHS	INTR	765	$215,853	0.15%
125	THE TRAVELERS COMPANIES INC	TRV	773	$215,839	0.15%
126	GENUINE PARTS CO	GPC	1,554	$215,385	0.15%
127	SPDR NUVEEN ICE MUNICIPAL BOND	78468R721	4,622	$210,625	0.15%
128	ENTERPRISE PRODUCTS PARTNERS L P	293792107	6,701	$209,540	0.15%
129	ISHARES FLOATING RATE BOND (MKT)	46429B655	4,080	$208,427	0.14%
130	SERVICENOW INC SR CV	NOW	225	$207,063	0.14%
131	EVERSOURCE ENERGY	ES	2,889	$205,523	0.14%
132	LAM RESEARCH CORP	LRCX	1,497	$200,448	0.14%
133	CAPITAL ONE FINANCIAL CORP	14040H105	927	$197,061	0.14%
134	QUALCOMM INC	QCOM	1,173	$195,141	0.14%
135	MEDTRONIC PLC	MDT	2,024	$192,766	0.13%
136	VANGUARD REAL ESTATE ETF	922908553	2,108	$192,713	0.13%
137	ABBVIE INC	ABBV	822	$190,326	0.13%
138	MICROCHIP TECHNOLOGY INC	MCHPP	2,932	$188,293	0.13%
139	AT&T INC	T-PC	6,147	$173,592	0.12%
140	TJX COS INC NEW	872540109	1,178	$170,270	0.12%
141	BANK OF AMERICA CORP	060505104	3,195	$164,829	0.11%
142	HOME DEPOT INC	HD	396	$160,455	0.11%
143	CHEVRON CORP	CVX	1,027	$159,484	0.11%
144	NETFLIX INC	NFLX	130	$155,859	0.11%
145	BLACKROCK INC	BLK	133	$155,061	0.11%
146	LOCKHEED MARTIN CORP	LMT	306	$152,757	0.11%
147	ALPHABET INC	GOOG	624	$151,975	0.11%
148	CISCO SYSTEMS INC	CSCO	2,103	$143,887	0.10%
149	ILLINOIS TOOL WORKS INC	452308109	532	$138,724	0.10%
150	TAIWAN SEMICONDUCTOR	874039100	493	$137,689	0.10%
151	LINDE PLC	LIN	288	$136,800	0.09%
152	ISHARES CORE S&P SMALL-CAP (MKT)	464287804	1,055	$125,366	0.09%
153	PEPSICO INC	PEP	876	$123,026	0.09%
154	LOCKHEED MARTIN CORP	LMT	229	$114,319	0.08%
155	EXXON MOBIL CORP	XOM	895	$100,911	0.07%
156	EMERSON ELECTRIC CO	EMR	768	$100,747	0.07%
157	WALMART INC	WMT	945	$97,392	0.07%
158	COCA-COLA CO	KO	1,348	$89,399	0.06%
159	BANK OF NEW YORK MELLON CORP	064058100	820	$89,347	0.06%
160	HONEYWELL INTERNATIONAL INC	438516106	409	$86,095	0.06%
161	RTX CORPORATION	RTX	500	$83,665	0.06%
162	TJX COS INC NEW	872540109	570	$82,388	0.06%
163	COSTCO WHOLESALE CORP	22160K105	89	$82,381	0.06%
164	CATERPILLAR INC	CAT	170	$81,116	0.06%
165	VANGUARD SHORT-TERM CORP BD IDX	92206C409	975	$77,932	0.05%
166	MEDTRONIC PLC	MDT	810	$77,144	0.05%
167	BERKSHIRE HATHAWAY INC	BRK-A	145	$72,897	0.05%
168	MONDELEZ INTL INC	609207105	1,161	$72,528	0.05%
169	TESLA INC	TSLA	161	$71,600	0.05%
170	LINDE PLC	LIN	148	$70,300	0.05%
171	ADOBE SYSTEMS INC	ADBE	196	$69,139	0.05%
172	BANK OF AMERICA CORP	060505104	1,331	$68,666	0.05%
173	TARGET CORP	TGT	735	$65,930	0.05%
174	3M CO	MMM	355	$55,089	0.04%
175	AT&T INC	T-PC	1,949	$55,040	0.04%
176	MCDONALDS CORP	MCD	175	$53,181	0.04%
177	SERVICENOW INC SR CV	NOW	57	$52,456	0.04%
178	QUALCOMM INC	QCOM	312	$51,904	0.04%
179	BOOKING HLDGS INC	BKNG	8	$43,194	0.03%
180	CAPITAL ONE FINANCIAL CORP	14040H105	188	$39,965	0.03%
181	ELI LILLY & CO	LLY	52	$39,676	0.03%
182	MICROCHIP TECHNOLOGY INC	MCHPP	500	$32,110	0.02%
183	ABBOTT LABORATORIES	ABLZF	238	$31,878	0.02%
184	VANGUARD EMERGING MARKETS STOCK	922042858	580	$31,425	0.02%
185	UNITEDHEALTH GROUP INC	UNH	91	$31,422	0.02%
186	GENUINE PARTS CO	GPC	225	$31,185	0.02%
187	ISHARES FALN ANGLS USD BD ETF	46435G474	1,064	$29,558	0.02%
188	PFIZER INC	PFE	1,101	$28,053	0.02%
189	VANGUARD S&P 500 ETF (MKT)	922908363	45	$27,557	0.02%
190	VANGUARD REAL ESTATE ETF	922908553	250	$22,855	0.02%
191	VANGUARD FTSE DEVELOPED MARKETS	921943858	313	$18,755	0.01%
192	PNC FINANCIAL SERVICES GROUP	693475105	90	$18,084	0.01%
193	BOEING CO	BA-PA	10	$2,158	0.00%