EXCHANGE BANK

Filed: 10/31/2025ACC: 0002001155-25-000005

📋 What this filing means

EXCHANGE BANK filed this quarterly 13F‑HR report disclosing 124 equity positions with a total reported market value of $144.09M. This filing provides a transparent view of the manager's long equity holdings as of the quarter end.

124

Positions

$144.09M

Total AUM (reported)

1.16M

Total Shares

Allocation by class

COMMON STOCK$103.40M71.8%

MUTUAL FUNDS/EQ$18.96M13.2%

MUTUAL FUNDS/FI$13.59M9.4%

MUTUAL FUNDS /$6.80M4.7%

FOREIGN STOCK$1.13M0.8%

PARTNERSHIPS$209.5K0.1%

Portfolio Concentration

Top 3$18.21M12.6%

4–10$27.94M19.4%

11–25$36.19M25.1%

Rest$61.75M42.9%

Top 3 weight

12.6%

Top 10 weight

32.0%

Voting Authority Distribution

Total shares with voting rights: 1.16M

Sole

Full voting authority

1.10M

% of voting shares95.0%

Shared

Joint voting authority

0.00

% of voting shares0.0%

None

No voting authority

57.32K

% of voting shares5.0%

Investment Discretion (by position count)

Sole124

Shared0

Other0

Dominant voting typeSole · 95.0% of voting shares

Institutional Holdings124

Rows:

APPLE INC

SOLE

COMMON STOCK

Shares28.29K

TypeSH

Market value$7.20M

5.00%

Sole

25.36K

Shared

0.00

None

2.94K

JOHNSON & JOHNSON

SOLE

COMMON STOCK

Shares29.86K

TypeSH

Market value$5.54M

3.84%

Sole

28.96K

Shared

0.00

None

897.00

ISHARES NATIONAL AMT-FREE MUNI

SOLE

MUTUAL FUNDS /

Shares51.38K

TypeSH

Market value$5.47M

3.80%

Sole

51.38K

Shared

0.00

None

0.00

MICROSOFT CORP

SOLE

COMMON STOCK

Shares10.03K

TypeSH

Market value$5.19M

3.60%

Sole

8.62K

Shared

0.00

None

1.41K

VANGUARD TOTAL STOCK MARKET ETF

SOLE

MUTUAL FUNDS/EQ

Shares12.66K

TypeSH

Market value$4.16M

2.88%

Sole

12.66K

Shared

0.00

None

0.00

CATERPILLAR INC

SOLE

COMMON STOCK

Shares8.24K

TypeSH

Market value$3.93M

2.73%

Sole

8.18K

Shared

0.00

None

63.00

PROCTER & GAMBLE CO

SOLE

COMMON STOCK

Shares24.14K

TypeSH

Market value$3.71M

2.57%

Sole

23.70K

Shared

0.00

None

444.00

ISHARES CORE TOTAL US BOND

SOLE

MUTUAL FUNDS/FI

Shares37K

TypeSH

Market value$3.71M

2.57%

Sole

37K

Shared

0.00

None

0.00

JP MORGAN CHASE & CO

SOLE

COMMON STOCK

Shares11.69K

TypeSH

Market value$3.69M

2.56%

Sole

11.07K

Shared

0.00

None

610.00

CHEVRON CORP

SOLE

COMMON STOCK

Shares22.88K

TypeSH

Market value$3.55M

2.47%

Sole

22.58K

Shared

0.00

None

298.00

VANGUARD TOTAL BOND MARKET ETF

SOLE

MUTUAL FUNDS/FI

Shares47.76K

TypeSH

Market value$3.55M

2.47%

Sole

47.76K

Shared

0.00

None

0.00

INTERNATIONAL BUSINESS MACHS

SOLE

COMMON STOCK

Shares11.73K

TypeSH

Market value$3.31M

2.30%

Sole

11.60K

Shared

0.00

None

125.00

WALMART INC

SOLE

COMMON STOCK

Shares30.77K

TypeSH

Market value$3.17M

2.20%

Sole

30.42K

Shared

0.00

None

351.00

EXXON MOBIL CORP

SOLE

COMMON STOCK

Shares25.55K

TypeSH

Market value$2.88M

2.00%

Sole

22.57K

Shared

0.00

None

2.98K

NVIDIA CORP

SOLE

COMMON STOCK

Shares15.27K

TypeSH

Market value$2.85M

1.98%

Sole

10.80K

Shared

0.00

None

4.47K

ALPHABET INC

SOLE

COMMON STOCK

Shares9.73K

TypeSH

Market value$2.36M

1.64%

Sole

8.17K

Shared

0.00

None

1.56K

UNION PACIFIC CORP

SOLE

COMMON STOCK

Shares9.93K

TypeSH

Market value$2.35M

1.63%

Sole

8.21K

Shared

0.00

None

1.72K

BERKSHIRE HATHAWAY INC

SOLE

COMMON STOCK

Shares3.00

TypeSH

Market value$2.26M

1.57%

Sole

3.00

Shared

0.00

None

0.00

ISHARES CORE S&P MID-CAP (MKT)

SOLE

MUTUAL FUNDS/EQ

Shares32.66K

TypeSH

Market value$2.13M

1.48%

Sole

32.66K

Shared

0.00

None

0.00

COCA-COLA CO

SOLE

COMMON STOCK

Shares30.43K

TypeSH

Market value$2.02M

1.40%

Sole

29.76K

Shared

0.00

None

674.00

SCHWAB US BROAD MARKET ETFT

SOLE

MUTUAL FUNDS/EQ

Shares77.35K

TypeSH

Market value$1.99M

1.38%

Sole

77.35K

Shared

0.00

None

0.00

SPDR S&P 500 ETF

SOLE

MUTUAL FUNDS/EQ

Shares2.89K

TypeSH

Market value$1.92M

1.33%

Sole

2.89K

Shared

0.00

None

0.00

PHILIP MORRIS INTERNATIONAL INC

SOLE

COMMON STOCK

Shares11.13K

TypeSH

Market value$1.80M

1.25%

Sole

10.86K

Shared

0.00

None

270.00

ORACLE CORP

SOLE

COMMON STOCK

Shares6.39K

TypeSH

Market value$1.80M

1.25%

Sole

5.95K

Shared

0.00

None

437.00

AMAZON COM INC SR

SOLE

COMMON STOCK

Shares8.16K

TypeSH

Market value$1.79M

1.24%

Sole

6.24K

Shared

0.00

None

1.92K

Issuer	Class	Shares	Type	Value / Portfolio %	Voting — Sole	None
APPLE INCSOLE	COMMON STOCK	28.29K	SH	$7.20M 5.00%	25.36K	2.94K
JOHNSON & JOHNSONSOLE	COMMON STOCK	29.86K	SH	$5.54M 3.84%	28.96K	897.00
ISHARES NATIONAL AMT-FREE MUNISOLE	MUTUAL FUNDS /	51.38K	SH	$5.47M 3.80%	51.38K	0.00
MICROSOFT CORPSOLE	COMMON STOCK	10.03K	SH	$5.19M 3.60%	8.62K	1.41K
VANGUARD TOTAL STOCK MARKET ETFSOLE	MUTUAL FUNDS/EQ	12.66K	SH	$4.16M 2.88%	12.66K	0.00
CATERPILLAR INCSOLE	COMMON STOCK	8.24K	SH	$3.93M 2.73%	8.18K	63.00
PROCTER & GAMBLE COSOLE	COMMON STOCK	24.14K	SH	$3.71M 2.57%	23.70K	444.00
ISHARES CORE TOTAL US BONDSOLE	MUTUAL FUNDS/FI	37K	SH	$3.71M 2.57%	37K	0.00
JP MORGAN CHASE & COSOLE	COMMON STOCK	11.69K	SH	$3.69M 2.56%	11.07K	610.00
CHEVRON CORPSOLE	COMMON STOCK	22.88K	SH	$3.55M 2.47%	22.58K	298.00
VANGUARD TOTAL BOND MARKET ETFSOLE	MUTUAL FUNDS/FI	47.76K	SH	$3.55M 2.47%	47.76K	0.00
INTERNATIONAL BUSINESS MACHSSOLE	COMMON STOCK	11.73K	SH	$3.31M 2.30%	11.60K	125.00
WALMART INCSOLE	COMMON STOCK	30.77K	SH	$3.17M 2.20%	30.42K	351.00
EXXON MOBIL CORPSOLE	COMMON STOCK	25.55K	SH	$2.88M 2.00%	22.57K	2.98K
NVIDIA CORPSOLE	COMMON STOCK	15.27K	SH	$2.85M 1.98%	10.80K	4.47K
ALPHABET INCSOLE	COMMON STOCK	9.73K	SH	$2.36M 1.64%	8.17K	1.56K
UNION PACIFIC CORPSOLE	COMMON STOCK	9.93K	SH	$2.35M 1.63%	8.21K	1.72K
BERKSHIRE HATHAWAY INCSOLE	COMMON STOCK	3.00	SH	$2.26M 1.57%	3.00	0.00
ISHARES CORE S&P MID-CAP (MKT)SOLE	MUTUAL FUNDS/EQ	32.66K	SH	$2.13M 1.48%	32.66K	0.00
COCA-COLA COSOLE	COMMON STOCK	30.43K	SH	$2.02M 1.40%	29.76K	674.00
SCHWAB US BROAD MARKET ETFTSOLE	MUTUAL FUNDS/EQ	77.35K	SH	$1.99M 1.38%	77.35K	0.00
SPDR S&P 500 ETFSOLE	MUTUAL FUNDS/EQ	2.89K	SH	$1.92M 1.33%	2.89K	0.00
PHILIP MORRIS INTERNATIONAL INCSOLE	COMMON STOCK	11.13K	SH	$1.80M 1.25%	10.86K	270.00
ORACLE CORPSOLE	COMMON STOCK	6.39K	SH	$1.80M 1.25%	5.95K	437.00
AMAZON COM INC SRSOLE	COMMON STOCK	8.16K	SH	$1.79M 1.24%	6.24K	1.92K

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