Exchange Bank 13F annual report
Exchange Bank is an investment fund managing more than $118 billion ran by Renee Pilkenton. There are currently 107 companies in Mrs. Pilkenton’s portfolio. The largest investments include Ishares Core Total Us Bond and Apple Inc, together worth $12.5 billion.
$118 billion Assets Under Management (AUM)
As of 3rd July 2024, Exchange Bank’s top holding is 65,606 shares of Ishares Core Total Us Bond currently worth over $6.37 billion and making up 5.4% of the portfolio value.
In addition, the fund holds 29,155 shares of Apple Inc worth $6.14 billion, whose value grew 22.8% in the past six months.
The third-largest holding is Microsoft worth $4.37 billion and the next is Ishares National Amt-free Muni worth $4.11 billion, with 38,592 shares owned.
Currently, Exchange Bank's portfolio is worth at least $118 billion. The total portfolio value may be much higher due to cash
assets that are not publicly disclosed such as fixed income, real estate, or cash equivalents.
Careers at Exchange Bank
The Exchange Bank office and employees reside in Santa Rosa, California. According to the last 13-F report filed with the SEC, Renee Pilkenton serves as the Trust Operations and Compliance Manager at Exchange Bank.
Recent trades
In the most recent 13F filing, Exchange Bank revealed that it had opened a new position in
Ishares Floating Rate Bond (mkt) and bought 4,401 shares worth $225 million.
The investment fund also strengthened its position in Vanguard Total Bond Market Etf by buying
6,070 additional shares.
This makes their stake in Vanguard Total Bond Market Etf total 47,548 shares worth $3.43 billion.
On the other hand, there are companies that Exchange Bank is getting rid of from its portfolio.
Exchange Bank closed its position in Intel on 10th July 2024.
It sold the previously owned 5,501 shares for $243 million.
Renee Pilkenton also disclosed a decreased stake in Ishares Core Total Us Bond by 0.3%.
This leaves the value of the investment at $6.37 billion and 65,606 shares.
One of the smallest hedge funds
The two most similar investment funds to Exchange Bank are Braun-bostich & Associates and New Vernon Investment Management. They manage $118 billion and $118 billion respectively.
Renee Pilkenton investment strategy
Exchange Bank’s portfolio is diversified across 12 sectors.
Currently, their heaviest sector is Technology — making up 11.5% of
the total portfolio value.
The fund focuses on investments in the United States as
59.8% of the portfolio companies
are based in the United States.
The majority of the companies in the fund’s portfolio are large-cap stocks.
Stocks with a size of more than $10 billion in market cap make up
62% of the total holdings value.
On the other hand, small-cap stocks make up only 0.9% of the portfolio.
The average market cap of the portfolio companies is close to $241 billion.
The complete list of Exchange Bank trades based on 13F SEC filings
These positions were updated on July 10th based on the fund’s latest 13F filing. Quickly find out what the most recently closed or increased positions are.
| Security | Shares Owned | Value | Allocation |
|---|---|---|---|
| Ishares Core Total Us Bond |
25.39%
65,606
|
$6,368,374,000 | 5.41% |
| Apple Inc |
0.61%
29,155
|
$6,140,630,000 | 5.22% |
| Microsoft Corporation |
6.25%
9,776
|
$4,369,381,000 | 3.71% |
| Ishares National Amt-free Muni |
18.22%
38,592
|
$4,111,978,000 | 3.49% |
| Johnson & Johnson |
1.72%
26,226
|
$3,833,191,000 | 3.26% |
| Procter & Gamble Co. |
2.35%
22,698
|
$3,743,354,000 | 3.18% |
| Chevron Corp. |
1.29%
23,833
|
$3,727,959,000 | 3.17% |
| Vanguard Total Bond Market Etf |
14.63%
47,548
|
$3,425,834,000 | 2.91% |
| Vanguard Total Stock Market Etf |
6.57%
12,749
|
$3,410,485,000 | 2.90% |
| Exxon Mobil Corp. |
1.16%
25,801
|
$2,970,211,000 | 2.52% |
| Caterpillar Inc. |
No change
7,578
|
$2,524,233,000 | 2.15% |
| Jp Morgan Chase & Co |
1.04%
12,405
|
$2,509,037,000 | 2.13% |
| Walmart Inc |
1.32%
36,377
|
$2,463,087,000 | 2.09% |
| Union Pacific Corp. |
1.50%
9,849
|
$2,228,434,000 | 1.89% |
| Coca-Cola Co |
1.73%
30,968
|
$1,971,113,000 | 1.68% |
| Merck & Co Inc |
1.69%
15,744
|
$1,949,109,000 | 1.66% |
| Ishares Core S&p Mid-cap (mkt) |
0.77%
32,112
|
$1,879,193,000 | 1.60% |
| Berkshire Hathaway Inc. |
2.81%
1,728
|
$2,538,454,000 | 2.16% |
| Target Corp |
No change
11,428
|
$1,691,800,000 | 1.44% |
| Schwab Us Broad Market Etft |
No change
26,000
|
$1,634,620,000 | 1.39% |
| Alphabet Inc |
1.57%
16,004
|
$2,924,175,000 | 2.49% |
| Spdr S&p 500 Etf |
8.54%
2,950
|
$1,605,449,000 | 1.36% |
| NVIDIA Corp |
853.81%
12,886
|
$1,591,937,000 | 1.35% |
| Texas Instruments Inc. |
0.64%
7,759
|
$1,509,358,000 | 1.28% |
| Ishares Core International |
4.59%
28,914
|
$1,443,387,000 | 1.23% |
| Automatic Data Processing Inc. |
5.07%
5,734
|
$1,368,650,000 | 1.16% |
| International Business Machs |
0.64%
7,727
|
$1,336,386,000 | 1.14% |
| Marsh & McLennan Cos., Inc. |
No change
6,239
|
$1,314,682,000 | 1.12% |
| Norfolk Southern Corp. |
No change
6,056
|
$1,300,162,000 | 1.11% |
| Vanguard Short-term Corp Bd Idx |
9.54%
16,216
|
$1,253,091,000 | 1.07% |
| Bristol-Myers Squibb Co. |
3.15%
29,845
|
$1,239,464,000 | 1.05% |
| Philip Morris International Inc |
1.46%
11,553
|
$1,170,666,000 | 0.99% |
| Ishares Short-term |
0.21%
22,163
|
$1,135,631,000 | 0.97% |
| Amazon Com Inc Sr |
2.07%
5,866
|
$1,133,606,000 | 0.96% |
| Eli Lilly & Co |
3.53%
1,122
|
$1,015,839,000 | 0.86% |
| NextEra Energy Inc |
0.23%
13,732
|
$972,364,000 | 0.83% |
| Pepsico Inc |
2.16%
5,445
|
$898,048,000 | 0.76% |
| Spdr Bofa Ml Crossover Corp Bond |
11.36%
37,573
|
$872,820,000 | 0.74% |
| Home Depot, Inc. |
0.16%
2,498
|
$859,911,000 | 0.73% |
| Fedex Corp |
No change
2,786
|
$835,356,000 | 0.71% |
| Ishares Faln Angls Usd |
0.66%
31,191
|
$816,892,000 | 0.69% |
| Honeywell International Inc |
1.85%
3,706
|
$791,380,000 | 0.67% |
| Oracle Corp. |
0.95%
5,190
|
$732,828,000 | 0.62% |
| American Express Co. |
0.90%
3,137
|
$726,372,000 | 0.62% |
| Mondelez International Inc. |
0.67%
10,727
|
$701,975,000 | 0.60% |
| Costco Wholesale Corp |
1.11%
817
|
$694,443,000 | 0.59% |
| Vanguard Ftse Developed Markets |
7.38%
13,932
|
$688,518,000 | 0.59% |
| Mcdonalds Corp |
0.19%
2,652
|
$675,836,000 | 0.57% |
| Pfizer Inc. |
4.69%
23,893
|
$668,527,000 | 0.57% |
| Becton Dickinson & Co. |
No change
2,840
|
$663,736,000 | 0.56% |
| Altria Group Inc. |
1.53%
14,113
|
$642,850,000 | 0.55% |
| Ishares Msci Eafe (mkt) |
4.98%
7,857
|
$615,439,000 | 0.52% |
| Ishares Russell 2000 (mkt) |
3.98%
2,971
|
$602,787,000 | 0.51% |
| Ishares Msci Usa Minimum |
No change
7,000
|
$587,720,000 | 0.50% |
| Globe Life Inc |
No change
6,750
|
$555,390,000 | 0.47% |
| Ishares Core S&p Small-cap (mkt) |
3.56%
5,197
|
$554,313,000 | 0.47% |
| Vanguard Small Cap Value Etf |
6.31%
3,017
|
$550,662,000 | 0.47% |
| Vanguard Real Estate Etf |
2.18%
6,492
|
$543,770,000 | 0.46% |
| Cisco Systems, Inc. |
5.36%
11,339
|
$538,717,000 | 0.46% |
| Adobe Systems Inc |
4.08%
964
|
$535,542,000 | 0.46% |
| Mastercard Incorporated |
1.07%
1,204
|
$531,156,000 | 0.45% |
| Bank Of New York Mellon Corp |
1.30%
8,556
|
$512,420,000 | 0.44% |
| Lowes Companies Inc |
2.07%
2,315
|
$510,366,000 | 0.43% |
| Huntington Bancshares, Inc. |
No change
38,024
|
$501,156,000 | 0.43% |
| Agilent Technologies Inc. |
No change
3,836
|
$497,260,000 | 0.42% |
| Meta Platforms Inc |
2.17%
947
|
$477,497,000 | 0.41% |
| GE Aerospace |
0.68%
2,819
|
$448,135,000 | 0.38% |
| Broadridge Financial Solutions, Inc. |
No change
2,250
|
$443,250,000 | 0.38% |
| Visa Inc |
4.45%
1,611
|
$422,840,000 | 0.36% |
| Illinois Tool Works, Inc. |
No change
1,783
|
$422,501,000 | 0.36% |
| Unitedhealth Group Inc |
14.27%
825
|
$420,139,000 | 0.36% |
| Ishares Iboxx $ Invst Grade Crp |
No change
3,722
|
$398,701,000 | 0.34% |
| Emerson Electric Co. |
0.80%
3,476
|
$382,916,000 | 0.33% |
| Vanguard S&p 500 Etf (mkt) |
No change
758
|
$379,099,000 | 0.32% |
| Blackrock Inc. |
3.27%
473
|
$372,403,000 | 0.32% |
| DuPont de Nemours Inc |
No change
4,410
|
$354,962,000 | 0.30% |
| Walt Disney Co (The) |
6.06%
3,505
|
$348,011,000 | 0.30% |
| Vanguard Emerging Markets Stock |
18.89%
7,892
|
$345,356,000 | 0.29% |
| Abbvie Inc |
1.42%
1,939
|
$332,578,000 | 0.28% |
| Broadcom Inc. |
13.92%
204
|
$327,527,000 | 0.28% |
| 3M Co. |
No change
3,160
|
$322,921,000 | 0.27% |
| Ishares Esg1 5 Yr Usd |
36.32%
12,897
|
$315,848,000 | 0.27% |
| Invesco Qqq Tr |
10.96%
658
|
$315,254,000 | 0.27% |
| Microchip Technology, Inc. |
No change
3,432
|
$314,028,000 | 0.27% |
| Ishares St National Amtfree Muni |
No change
2,965
|
$309,991,000 | 0.26% |
| Duke Energy Corp. |
No change
3,045
|
$305,200,000 | 0.26% |
| Vanguard High Dividend Yield |
20.18%
2,495
|
$295,907,000 | 0.25% |
| Genuine Parts Co. |
No change
2,124
|
$293,792,000 | 0.25% |
| Ishares Core S&p 500 (mkt) |
5.27%
519
|
$284,013,000 | 0.24% |
| Ishares Msci Usa Quality Factor |
14.96%
1,660
|
$283,462,000 | 0.24% |
| United Parcel Service, Inc. |
No change
2,009
|
$274,932,000 | 0.23% |
| Booking Holdings Inc |
9.21%
69
|
$273,346,000 | 0.23% |
| CSX Corp. |
No change
7,933
|
$265,359,000 | 0.23% |
| Qualcomm, Inc. |
No change
1,307
|
$260,328,000 | 0.22% |
| Northrop Grumman Corp. |
No change
596
|
$259,825,000 | 0.22% |
| Dow Inc |
No change
4,629
|
$245,569,000 | 0.21% |
| Aon Plc Shs Cl A |
4.26%
832
|
$244,258,000 | 0.21% |
| Intel Corp. |
Closed
5,501
|
$242,979,000 | |
| Lockheed Martin Corp. |
No change
514
|
$240,091,000 | 0.20% |
| RTX Corp |
1.55%
2,343
|
$235,214,000 | 0.20% |
| Medtronic Plc |
No change
2,952
|
$232,352,000 | 0.20% |
| Salesforce Inc |
Closed
759
|
$228,596,000 | |
| Accenture plc |
14.51%
742
|
$225,131,000 | 0.19% |
| Ishares Floating Rate Bond (mkt) |
Opened
4,401
|
$224,846,000 | 0.19% |
| AT&T, Inc. |
38.02%
11,419
|
$218,218,000 | 0.19% |
| Boeing Co. |
Closed
1,117
|
$215,571,000 | |
| Valero Energy Corp. |
Closed
1,258
|
$214,728,000 | |
| Spdr Nuveen Bloomberg Barclays |
No change
4,622
|
$211,457,000 | 0.18% |
| Fair Isaac Corp. |
33.33%
142
|
$211,390,000 | 0.18% |
| PNC Financial Services Group Inc |
Closed
1,280
|
$206,847,000 | |
| Linde Plc. |
1.88%
470
|
$206,241,000 | 0.18% |
| Taiwan Semiconductor |
Opened
1,172
|
$203,705,000 | 0.17% |
| Verizon Communications Inc |
Closed
4,839
|
$203,045,000 | |
| Comcast Corp |
Closed
4,629
|
$200,668,000 | |
| No transactions found | |||
| Showing first 500 out of 114 holdings | |||
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