EB
Exchange Bank Quarterly 13F Portfolio Update (Q2 2026)
Exchange BankCIK: 0002001155
Diversified strategyMomentum followerQuality / disciplined sizing
Total reported value
$160.6M
Reporting period: 2026-06-30 · Number of holdings: 205
Exchange Bank disclosed 205 holdings in its latest 13F filing for the period ending 2026-06-30, with total reported value of $160.6M and a quarterly turnover rate of 19.6%.
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Personality snowflake
- Concentration
- 7.18
- Portfolio Stability
- 19.55
- Momentum
- 100
- Sector conviction
- 44.88
- Diversification
- 100
- Sizing Uniformity
- 88.4
Exchange Bank's disclosed holdings carry a Herfindahl concentration index of 0.018 — mathematically equivalent to about 56 equally-sized positions, well below its 205 actual disclosed holdings. That gap points to a strategy built around a small core of high-conviction bets rather than broad diversification.
Position sizes are fairly uniform across the portfolio (a coefficient of variation of 1.16), suggesting a disciplined, rules-based approach to how much capital goes into each idea.
No strong tilt toward either adding to existing winners or initiating outsized new positions was observed in the latest reported quarter.
Sector classification currently covers about 69% of this portfolio's disclosed value; the remainder includes holdings (e.g. unmapped tickers, options, or other security types) not yet covered by our sector mapping.
Source and citation information
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Recent moves
View source Form 13F filing on SEC.govAdd CAT
0.0% $2.7M
Trim CVX
-1.7% -$989.8K
Trim MUB
-16.8% -$857.0K
Trim XOM
+0.4% -$782.4K
Add VTI
+19.9% $1.4M
Sold out HON
Holdings Map
New buyAddUnchangedTrim
Top 10 holdings by weight
Full holdings list this quarter
Showing top 130 holdings (of 205 total)
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | AAPL | Apple Inc | Stock-Tech | 5.08% | +0.06% | -1.20% | |
| 2 | CAT | Caterpillar Inc | Stock-Industrials | 4.95% | +1.28% | — | |
| 3 | JNJ | Johnson & Johnson | Stock-Healthcare | 4.24% | -0.44% | -3.04% | |
| 4 | VTI | Vanguard Total Stock Mkt ETF | ETF-Other | 3.08% | +0.60% | +19.93% | |
| 5 | MUB | Ishares National Muni Bond E | ETF-Other | 2.87% | -0.92% | -16.83% | |
| 6 | AGG | Ishares Core U.s. Aggregate | ETF-Other | 2.28% | -0.30% | -1.14% | |
| 7 | CVX | Chevron CORP | Stock-Energy | 2.28% | -0.94% | -1.74% | |
| 8 | MSFT | Microsoft CORP | Stock-Tech | 2.24% | -0.31% | -2.75% | |
| 9 | JPM | Jpmorgan Chase & Co | Stock-Financials | 2.21% | -0.05% | -1.88% | |
| 10 | GOOGL | Alphabet Inc-cl A | Stock-Comm Services | 2.21% | +0.28% | +2.42% | |
| 11 | PG | Procter & Gamble Co/the | Stock-Consumer Staples | 2.12% | -0.24% | -1.54% | |
| 12 | BND | Vanguard Total Bond Market | ETF-Other | 2.11% | -0.14% | +4.44% | |
| 13 | XOM | Exxon Mobil CORP | Stock-Energy | 2.06% | -0.78% | +0.39% | |
| 14 | IBM | Intl Business Machines CORP | Stock-Tech | 2.01% | +0.06% | -1.02% | |
| 15 | WMT | Walmart Inc | Stock-Consumer Staples | 2.00% | -0.53% | -3.45% | |
| 16 | UNP | Union Pacific CORP | Stock-Industrials | 1.59% | +0.02% | — | |
| 17 | IJH | Ishares Core S&p Midcap ETF | ETF-Other | 1.58% | +0.04% | -0.21% | |
| 18 | KO | Coca-cola Co/the | Stock-Consumer Staples | 1.57% | -0.02% | +2.50% | |
| 19 | NVDA | Nvidia CORP | Stock-Tech | 1.54% | -0.01% | -3.36% | |
| 20 | GOOG | Alphabet Inc-cl C | Stock-Comm Services | 1.41% | +0.12% | -1.74% | |
| 21 | BRK-A | Berkshire Hathaway Inc-cl A | Stock-Other | 1.40% | -0.09% | — | |
| 22 | VEA | Vanguard Ftse Developed ETF | ETF-Other | 1.38% | +0.44% | +48.18% | |
| 23 | SCHB | Schwab US Broad Market ETF | ETF-Other | 1.36% | +0.03% | -1.08% | |
| 24 | VCSH | Vanguard S/t CORP Bond ETF | ETF-Corp Bonds | 1.33% | +0.27% | +40.48% | |
| 25 | TXN | Texas Instruments Inc | Stock-Tech | 1.26% | +0.35% | — | |
| 26 | VWO | Vanguard Ftse Emerging Marke | ETF-Emerging Markets | 1.16% | +0.25% | +28.94% | |
| 27 | MRK | Merck & Co. Inc. | Stock-Healthcare | 1.15% | -0.05% | -0.58% | |
| 28 | AMZN | Amazon.com Inc | Stock-Consumer Disc | 1.14% | +0.09% | +5.99% | |
| 29 | PM | Philip Morris International | Stock-Consumer Staples | 1.13% | -0.08% | -5.53% | |
| 30 | IAGG | Ishares Intl Aggregate Bond | ETF-Other | 1.09% | +0.10% | +21.23% | |
| 31 | BMY | Bristol-myers Squibb Co | Stock-Healthcare | 1.05% | -0.18% | — | |
| 32 | SPY | Ss Spdr S&p 500 ETF Trust-us | ETF-Large Cap & Growth | 1.03% | -0.26% | -22.75% | |
| 33 | NSC | Norfolk Southern CORP | Stock-Industrials | 0.99% | -0.06% | -3.42% | |
| 34 | GE | General Electric | Stock-Industrials | 0.89% | +0.11% | -3.17% | |
| 35 | LLY | Eli Lilly & Co | Stock-Healthcare | 0.81% | +0.15% | +4.90% | |
| 36 | TGT | Target CORP | Stock-Consumer Disc | 0.81% | -0.07% | -3.84% | |
| 37 | ADP | Automatic Data Processing | Stock-Tech | 0.79% | -0.03% | -1.95% | |
| 38 | GL | Globe Life Inc | Stock-Financials | 0.75% | +0.10% | — | |
| 39 | NEE | Nextera Energy Inc | Stock-Utilities | 0.75% | -0.13% | -0.39% | |
| 40 | SPHY | Ss Spdr P High Yield ETF | ETF-High Yield | 0.74% | +0.12% | +32.23% | |
| 41 | GEV | GE Vernova Inc | Stock-Industrials | 0.70% | +0.10% | -3.14% | |
| 42 | BNY | Bank Of New York Mellon CORP | Stock-Financials | 0.66% | +0.04% | -2.66% | |
| 43 | ABBV | Abbvie Inc | Stock-Healthcare | 0.65% | +0.32% | +91.01% | |
| 44 | MRSH | Marsh & Mclennan Cos | Stock-Financials | 0.64% | -0.10% | — | |
| 45 | IGSB | Ishares 1-5y Inv Grade CORP | ETF-Other | 0.63% | -0.07% | — | |
| 46 | QUAL | Ishares Msci USA Quality Fac | ETF-Other | 0.62% | +0.24% | +56.64% | |
| 47 | CSCO | Cisco Systems Inc | Stock-Tech | 0.61% | +0.17% | +1.74% | |
| 48 | MO | Altria Group Inc | Stock-Consumer Staples | 0.60% | -0.02% | -1.84% | |
| 49 | HD | Home Depot Inc | Stock-Consumer Disc | 0.59% | -0.02% | -0.07% | |
| 50 | AVGO | Broadcom Inc | Stock-Tech | 0.58% | +0.05% | +0.04% |
1–50 of 130
Portfolio Performance
Performance for Q3 2026
+3.5%
Performance Last 4 Quarters
+20.8%
- Stdev
- +9.6%
- Beta
- +0.67
- Alpha
- +1.3%
- Max Drawdown
- -5.9%
- Annualized Perf
- +15.4%
- Batting Avg vs S&P
- +41.7%
- Sortino
- +2.77
- Stutzer
- +0.44
- Treynor
- +0.22
- Sterling
- +1.06
- Calmar
- +2.62
- Information Ratio
- -0.88
- Tracking Error
- +5.9%
- Stdev Down
- +5.3%
- Winning Months %
- +77.8%
- Losing Months %
- +22.2%
- Best 12 Months
- +27.1%
- Worst 12 Months
- +7.2%
- Efficiency Ratio
- +0.56
- Sharpe
- +1.54
- Stdev Sectors
- +7%
- Skewness
- -0.47
- Kurtosis
- -0.31
- Upside Potential
- +4.35
Reported value over time
Sector allocation
Sector allocation over time
Quarterly history
Holding changes this quarter
Exchange Bank's most significant position changes for 2026-06-30: Sold out: Honeywell International Inc (HON); New buy: Micron Technology Inc (MU); New buy: ; New buy: ; New buy: Colgate-palmolive Co (CL).
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | CAT | Caterpillar Inc | +1.3% | — | Unchanged |
| 2 | VTI | Vanguard Total Stock Mkt ETF | +0.6% | +19.93% | Add |
| 3 | VEA | Vanguard Ftse Developed ETF | +0.4% | +48.18% | Add |
| 4 | TXN | Texas Instruments Inc | +0.4% | — | Unchanged |
| 5 | MU | Micron Technology Inc | +0.3% | NEW | New buy |
| 6 | ABBV | Abbvie Inc | +0.3% | +91.01% | Add |
| 7 | GOOGL | Alphabet Inc-cl A | +0.3% | +2.42% | Add |
| 8 | VCSH | Vanguard S/t CORP Bond ETF | +0.3% | +40.48% | Add |
| 9 | ✓ | +0.3% | NEW | New buy | |
| 10 | ✓ | +0.3% | NEW | New buy | |
| 11 | VWO | Vanguard Ftse Emerging Marke | +0.3% | +28.94% | Add |
| 12 | QUAL | Ishares Msci USA Quality Fac | +0.2% | +56.64% | Add |
| 13 | CL | Colgate-palmolive Co | +0.2% | NEW | New buy |
| 14 | BAC | Bank Of America CORP | +0.2% | NEW | New buy |
| 15 | INTC | Intel CORP | +0.2% | NEW | New buy |
| 16 | CSCO | Cisco Systems Inc | +0.2% | +1.74% | Add |
| 17 | VYM | Vanguard High Dvd Yield ETF | +0.2% | +61.00% | Add |
| 18 | LRCX | Lam Research CORP | +0.2% | +0.07% | Add |
| 19 | ABT | Abbott Laboratories | +0.2% | NEW | New buy |
| 20 | LLY | Eli Lilly & Co | +0.2% | +4.90% | Add |
| 21 | CRWD | Crowdstrike Holdings Inc - A | +0.2% | NEW | New buy |
| 22 | AMD | Advanced Micro Devices | +0.2% | NEW | New buy |
| 23 | ETN | Eaton Corporation plc | +0.2% | NEW | New buy |
| 24 | QCOM | Qualcomm Inc | +0.1% | NEW | New buy |
| 25 | VTEB | Vanguard Tax-exempt Bond ETF | +0.1% | NEW | New buy |
| 26 | DE | Deere & Co | +0.1% | NEW | New buy |
| 27 | GPC | Genuine Parts Co | +0.1% | NEW | New buy |
| 28 | QQQ | Invesco Qqq Trust Series 1 | +0.1% | NEW | New buy |
| 29 | VO | Vanguard Mid-cap ETF | +0.1% | NEW | New buy |
| 30 | GOOG | Alphabet Inc-cl C | +0.1% | -1.74% | Trim |
| 31 | SPHY | Ss Spdr P High Yield ETF | +0.1% | +32.23% | Add |
| 32 | UNH | Unitedhealth Group Inc | +0.1% | NEW | New buy |
| 33 | GE | General Electric | +0.1% | -3.17% | Trim |
| 34 | IAGG | Ishares Intl Aggregate Bond | +0.1% | +21.23% | Add |
| 35 | GL | Globe Life Inc | +0.1% | — | Unchanged |
| 36 | GEV | GE Vernova Inc | +0.1% | -3.14% | Trim |
| 37 | TSM | Taiwan Semiconductor-sp Adr | +0.1% | +4.78% | Add |
| 38 | AMZN | Amazon.com Inc | +0.1% | +5.99% | Add |
| 39 | VBR | Vanguard Small-cap Value ETF | +0.1% | +21.72% | Add |
| 40 | AAPL | Apple Inc | +0.1% | -1.20% | Trim |
| 41 | IBM | Intl Business Machines CORP | +0.1% | -1.02% | Trim |
| 42 | AVGO | Broadcom Inc | +0.1% | +0.04% | Add |
| 43 | APH | Amphenol Corp-cl A | +0.1% | — | Unchanged |
| 44 | IJH | Ishares Core S&p Midcap ETF | 0% | -0.21% | Trim |
| 45 | BNY | Bank Of New York Mellon CORP | 0% | -2.66% | Trim |
| 46 | IJR | Ishares Core S&p Small-cap E | 0% | -0.40% | Trim |
| 47 | MCHP | Microchip Technology Inc | 0% | — | Unchanged |
| 48 | SCHB | Schwab US Broad Market ETF | 0% | -1.08% | Trim |
| 49 | AVDV | Avantis Intl S/c Value ETF | 0% | +13.09% | Add |
| 50 | NTRS | Northern Trust CORP | 0% | — | Unchanged |
1–50 of 134
Filing History
FAQ
What is Exchange Bank and what type of investor is it?
Exchange Bank is an investment manager that files SEC Form 13F quarterly, disclosing its U.S. public equity holdings to regulators. As of the most recent reporting period (2026-06-30), the firm manages a tracked equity portfolio valued at approximately $160.6M, spread across 205 disclosed positions.
What are Exchange Bank's largest equity positions?
Based on the latest 13F filing, Exchange Bank's top holdings by market value are:
1. Apple Inc (AAPL) — $8.2M (5.1%)
2. Caterpillar Inc (CAT) — $8.0M (5.0%)
3. Johnson & Johnson (JNJ) — $6.8M (4.2%)
4. Vanguard Total Stock Mkt ETF (VTI) — $4.9M (3.1%)
5. Ishares National Muni Bond E (MUB) — $4.6M (2.9%)
What changes did Exchange Bank make in its most recent portfolio filing?
In the latest reported quarter, Exchange Bank made 98 notable position adjustments: 17 new positions were initiated, 32 existing holdings were added to, 45 positions were partially reduced, and 4 were completely exited. The largest of these moves: Sold out: Honeywell International Inc (HON); New buy: Micron Technology Inc (MU); New buy: ; New buy: ; New buy: Colgate-palmolive Co (CL)
What sectors does Exchange Bank focus on?
Exchange Bank is concentrated in the following sectors based on its current disclosed equity portfolio:
• Information Technology: 24.6%
• Industrials: 17.6%
• Health Care: 13.3%
• Consumer Staples: 12.9%
• Financials: 10.6%
• Energy: 6.8%
💡
Data Source Notice: AlphaSMO is the web's most authoritative 13F / Inside Trader database. Institutional holdings and insider trades presented here are precisely computed to deliver accurate portfolio reporting.
Investment Profile
Exchange Bank returned an annualized 15.4% over the trailing 36 months — outperforming the S&P 500 by 1.3 points — based on a reconstructed track record of its disclosed 13F positions, with a beta of 0.67 (less volatile than the market) and a 42% quarterly batting average against the index.
Its portfolio is broadly diversified and long-term-holding.
Its turnover score has risen from 0 to 20 over the past 4 quarters — a shift toward more active trading.
It has added to its CAT position over the past two quarters (+$3.2M, now $8.0M), while trimming MSFT over the same stretch (-$1.2M, still holding $3.6M).
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Developer Access
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