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Livermore
Livermore
ZHEN

Exchange Bank

SEC CIK
0002001155
Latest filing
Jul 8, 2026

Holdings in Q4 2025

Holdings as of Dec 31, 2025, filed Jan 13, 2026. Long positions only; changes compare share counts with Q3 2025.

Institution overview
Positions
121
−3 vs. Q3 2025
Portfolio value
$144.6M
+$499.2K (+0.3%) vs. Q3 2025
Filed
Jan 13, 2026
SEC
Holdings of Exchange Bank in Q4 2025
SecurityClassSharesValue% of portfolioShare changeActionHistory
AAPLApple Inc.Stock29,034$7.89M5.5%+742+2.6%AddedHistory
JNJJohnson & JohnsonStock28,742$5.95M4.1%−1,113−3.7%ReducedHistory
iShares Tr464288414NATIONAL MUN ETF51,375$5.50M3.8%00.0%Unchanged–
MSFTMicrosoft CorpStock9,932$4.80M3.3%−96−1.0%ReducedHistory
CATCaterpillar IncStock8,287$4.75M3.3%+49+0.6%AddedHistory
iShares Core U.S. Aggregate Bond ETF464287226ETF36,775$3.67M2.5%−225−0.6%Reduced–
Vanguard Morningstar Total Stock Market ETF922908769ETF10,647$3.57M2.5%−2,018−15.9%Reduced–
JPMJPMorgan Chase & CoStock11,066$3.57M2.5%−619−5.3%ReducedHistory
CVXChevron CorpStock22,844$3.48M2.4%−35−0.2%ReducedHistory
IBMInternational Business Machines CorpStock11,616$3.44M2.4%−110−0.9%ReducedHistory
WMTWalmart Inc.Stock30,769$3.43M2.4%+20.0%AddedHistory
PGProcter & Gamble CoStock23,714$3.40M2.4%−429−1.8%ReducedHistory
Vanguard Total Bond Market ETF921937835ETF44,126$3.27M2.3%−3,638−7.6%Reduced–
XOMExxonMobil Holdings CorpCOM25,505$3.07M2.1%−46−0.2%ReducedHistory
GOOGLAlphabet Inc.Stock9,753$3.05M2.1%+25+0.3%AddedHistory
NVDANVIDIA CorpStock14,731$2.75M1.9%−538−3.5%ReducedHistory
UNPUnion Pacific CorpStock9,844$2.28M1.6%−87−0.9%ReducedHistory
BRK.ABerkshire Hathaway IncCL A3$2.26M1.6%00.0%UnchangedHistory
iShares Core S&P Mid-Cap ETF464287507ETF32,315$2.13M1.5%−350−1.1%Reduced–
KOCoca Cola CoStock30,226$2.11M1.5%−204−0.7%ReducedHistory
GOOGAlphabet Inc.Stock6,453$2.02M1.4%−50−0.8%ReducedHistory
Schwab U.S. Broad Market ETF808524102ETF77,100$2.02M1.4%−250−0.3%Reduced–
SPYSPDR S&P 500 ETF TrustETF2,881$1.96M1.4%−6−0.2%ReducedHistory
AMZNAmazon Com IncStock8,046$1.86M1.3%−119−1.5%ReducedHistory
PMPhilip Morris International Inc.Stock10,599$1.70M1.2%−528−4.7%ReducedHistory
BMYBristol Myers Squibb CoStock29,306$1.58M1.1%00.0%UnchangedHistory
NSCNorfolk Southern CorpStock5,356$1.55M1.1%−100−1.8%ReducedHistory
MRKMerck & Co., Inc.Stock14,441$1.52M1.1%−78−0.5%ReducedHistory
ADPAutomatic Data Processing IncStock5,810$1.49M1.0%00.0%UnchangedHistory
Vanguard Scottsdale FDS92206C409SHRT TRM CORP BD17,427$1.39M1.0%+574+3.4%Added–
ORCLOracle CorpStock6,287$1.23M0.8%−100−1.6%ReducedHistory
iShares Tr46435G672CORE INTL AGGR24,366$1.22M0.8%−677−2.7%Reduced–
GEGeneral Electric CoStock3,952$1.22M0.8%−67−1.7%ReducedHistory
LLYEli Lilly & CoStock1,110$1.19M0.8%−104−8.6%ReducedHistory
TXNTexas Instruments IncStock6,779$1.18M0.8%00.0%UnchangedHistory
iShares Tr464288646ISHS 1-5YR INVS22,163$1.17M0.8%00.0%Unchanged–
MRSHMarsh & McLennan Companies, Inc.Stock6,170$1.14M0.8%+6+0.1%AddedHistory
iShares Tr464288158SHRT NAT MUN ETF10,435$1.11M0.8%00.0%Unchanged–
NEENextera Energy IncStock13,740$1.10M0.8%+34+0.2%AddedHistory
TGTTarget CorpStock10,444$1.02M0.7%00.0%UnchangedHistory
AVGOBroadcom Inc.Stock2,935$1.02M0.7%−329−10.1%ReducedHistory
AXPAmerican Express CoStock2,616$967.8K0.7%−63−2.4%ReducedHistory
GLGlobe Life Inc.COM6,750$944.1K0.7%00.0%UnchangedHistory
HDHome Depot, Inc.Stock2,689$925.3K0.6%−254−8.6%ReducedHistory
Vanguard Ftse Developed Markets ETF921943858ETF14,642$914.7K0.6%−39−0.3%Reduced–
SPDR Series Trust78468R606ST PORT HIGH ETF37,412$885.5K0.6%+10,943+41.3%Added–
BRK.BBerkshire Hathaway IncStock1,752$880.6K0.6%00.0%UnchangedHistory
BNYBank of New York Mellon CorpStock7,555$877.1K0.6%00.0%UnchangedHistory
VVisa Inc.Stock2,409$844.9K0.6%+98+4.2%AddedHistory
METAMeta Platforms, Inc.Stock1,262$833.0K0.6%−67−5.0%ReducedHistory
American Centy ETF Tr025072802INTL SMCP VLU8,629$810.9K0.6%00.0%Unchanged–
IAUiShares Gold TrustETF9,989$810.8K0.6%+720+7.8%AddedHistory
MCDMcDonalds CorpStock2,615$799.2K0.6%+4+0.2%AddedHistory
iShares MSCI Eafe ETF464287465ETF8,233$790.6K0.5%+26+0.3%Added–
MOAltria Group, Inc.Stock13,546$781.1K0.5%−144−1.1%ReducedHistory
FDXFedEx CorpStock2,703$780.8K0.5%−250−8.5%ReducedHistory
iShares Core S&P 500 ETF464287200ETF1,104$756.2K0.5%+25+2.3%Added–
COSTCostco Wholesale CorpStock852$734.7K0.5%+32+3.9%AddedHistory
iShares Tr46435G474FALN ANGLS USD26,854$733.1K0.5%+464+1.8%Added–
HONHoneywell International IncCOM3,738$729.2K0.5%+14+0.4%AddedHistory
PEPPepsiCo IncStock5,034$722.5K0.5%+88+1.8%AddedHistory
MAMastercard IncStock1,221$697.0K0.5%+27+2.3%AddedHistory
iShares Core S&P Small Cap ETF464287804ETF5,558$668.0K0.5%+32+0.6%Added–
HBANHuntington Bancshares IncCOM38,024$659.7K0.5%00.0%UnchangedHistory
BABoeing CoStock3,008$653.1K0.5%+20+0.7%AddedHistory
GEVGE Vernova Inc.Stock985$643.8K0.4%+2+0.2%AddedHistory
CSCOCisco Systems, Inc.Stock8,249$635.4K0.4%−163−1.9%ReducedHistory
PFEPfizer IncStock25,282$629.5K0.4%−2,022−7.4%ReducedHistory
Vanguard S&P 500 ETF922908363ETF990$620.9K0.4%+26+2.7%Added–
RTXRTX CorpStock3,364$617.0K0.4%−29−0.9%ReducedHistory
iShares MSCI USA Min Vol Factor ETF46429B697ETF6,300$593.2K0.4%00.0%Unchanged–
MDLZMondelez International, Inc.Stock10,976$590.8K0.4%−168−1.5%ReducedHistory
iShares Tr46435G243ESG AWRE 1 5 YR22,671$572.2K0.4%+1,505+7.1%Added–
LOWLowes Companies IncStock2,320$559.5K0.4%00.0%UnchangedHistory
EMREmerson Electric CoStock4,151$550.9K0.4%−156−3.6%ReducedHistory
BDXBecton Dickinson & CoStock2,837$550.6K0.4%00.0%UnchangedHistory
MMM3M CoStock3,405$545.1K0.4%00.0%UnchangedHistory
iShares MSCI USA Quality Factor ETF46432F339ETF2,660$528.3K0.4%−24−0.9%Reduced–
BRBroadridge Financial Solutions, Inc.Stock2,250$502.1K0.3%00.0%UnchangedHistory
ABBVAbbVie Inc.Stock2,170$495.8K0.3%−6−0.3%ReducedHistory
BLKBlackRock, Inc.Stock461$493.4K0.3%−6−1.3%ReducedHistory
Vanguard Ftse Emerging Markets ETF922042858ETF9,053$486.7K0.3%−16−0.2%Reduced–
ITWIllinois Tool Works IncStock1,944$478.8K0.3%+45+2.4%AddedHistory
Vanguard Morningstar Small-Cap Value ETF922908611ETF2,199$465.7K0.3%00.0%Unchanged–
AAgilent Technologies, Inc.COM3,404$463.2K0.3%00.0%UnchangedHistory
iShares Tr464288638ISHS 5-10YR INVT7,672$413.4K0.3%00.0%Unchanged–
Vanguard High Dividend Yield Index ETF921946406ETF2,787$400.0K0.3%+121+4.5%Added–
NFLXNetflix IncStock4,240$397.5K0.3%−270−6.0%ReducedConverted for a 10-for-1 splitHistory
BKNGBooking Holdings Inc.Stock74$396.3K0.3%+5+7.2%AddedHistory
iShares Russell 2000 ETF464287655ETF1,576$387.9K0.3%−1,417−47.3%Reduced–
DISWalt Disney CoStock3,398$386.6K0.3%−204−5.7%ReducedHistory
TSMTaiwan Semiconductor Manufacturing Co LtdADR1,254$381.1K0.3%−49−3.8%ReducedHistory
APHAmphenol CorpCL A2,645$357.4K0.2%−878−24.9%ReducedHistory
ADBEAdobe Inc.Stock1,021$357.3K0.2%+2+0.2%AddedHistory
DUKDuke Energy CORPStock3,045$356.9K0.2%00.0%UnchangedHistory
NOCNorthrop Grumman CorpStock559$318.7K0.2%00.0%UnchangedHistory
Global X FDS37954Y673US INFR DEV ETF6,651$317.9K0.2%00.0%Unchanged–
ABTAbbott LaboratoriesStock2,336$292.7K0.2%−107−4.4%ReducedHistory
CSXCSX CorpStock7,895$286.2K0.2%00.0%UnchangedHistory
TSLATesla, Inc.Stock634$285.1K0.2%−31−4.7%ReducedHistory

Sold out since Q3 2025 (5)

Positions held at the end of Q3 2025 that are gone from this filing.

Positions of Exchange Bank sold out since Q3 2025
SecurityClassShares in Q3 2025Value in Q3 2025% of portfolio in Q3 2025History
DDDuPont de Nemours, Inc.COM4,107$319.9K0.2%History
UNHUnitedHealth Group IncStock728$251.4K0.2%History
Vanguard Real Estate ETF922908553ETF2,358$215.6K0.1%–
LINLinde PLCStock436$207.1K0.1%History
ESEversource EnergyStock2,889$205.5K0.1%History