ARCADIA INVESTMENT MANAGEMENT CORP/MI

KALAMAZOO, MI · CIK 1016972 · 13F filing filed 2023-02-08

No investment adviser registration (Form ADV) found for this filer. It may be a parent company whose subsidiaries are the registered advisers, a bank or insurer, or a manager based outside the US.

$428.8m reported value +3.8% vs Q3 2022

346positions

33.8%in top 10

78 new 48 added 95 reduced 13 sold out vs Q3 2022

Holdings, Q4 2022

The small lines show how much was held over the last 4 quarters (adjusted for stock splits).

#	Security	Ticker	Shares	Value	% of portfolio	Change	Shares change
1	STRYKER CORPORATION COM SYK	SYK	79,460	$19.4m4.53%	4.53%	Added +1.8k	+1,839 2.4%
2	THERMO FISHER SCIENTIFIC INC COM TMO	TMO	33,389	$18.4m4.29%	4.29%	Added +472	+472 1.4%
3	APPLE INC COM AAPL	AAPL	135,857	$17.7m4.12%	4.12%	Added +6.2k	+6,212 4.8%
4	MICROSOFT CORP COM MSFT	MSFT	61,696	$14.8m3.45%	3.45%	Added +4.2k	+4,233 7.4%
5	ACCENTURE PLC IRELAND SHS CLASS A ACN	ACN	54,027	$14.4m3.36%	3.36%	Reduced -891	-891 -1.6%
6	BROADCOM INC COM AVGO	AVGO	22,917	$12.8m2.99%	2.99%	Reduced -122	-122 -0.5%
7	COSTCO WHSL CORP NEW COM COST	COST	27,683	$12.6m2.95%	2.95%	Reduced -717	-717 -2.5%
8	PALO ALTO NETWORKS INC COM PANW	PANW	83,275	$11.6m2.71%	2.71%	Reduced -5.0k	-4,971 -5.6%
9	STARBUCKS CORP COM SBUX	SBUX	116,975	$11.6m2.71%	2.71%	Reduced -3.0k	-2,962 -2.5%
10	ILLINOIS TOOL WKS INC COM ITW	ITW	51,809	$11.4m2.66%	2.66%	Reduced -1.3k	-1,332 -2.5%
11	VISA INC COM CL A V	V	52,776	$11.0m2.56%	2.56%	Added +1.4k	+1,395 2.7%
12	OREILLY AUTOMOTIVE INC COM ORLY	ORLY	12,407	$10.5m2.44%	2.44%	Reduced -1.1k	-1,058 -7.9%
13	TEXAS PACIFIC LAND CORPORATI COM TPL	TPL	4,324	$10.1m2.36%	2.36%	Added +1.1k	+1,056 32.3%
14	INTERCONTINENTAL EXCHANGE IN COM ICE	ICE	97,027	$10.0m2.32%	2.32%	Reduced -1.5k	-1,487 -1.5%
15	MONOLITHIC PWR SYS INC COM MPWR	MPWR	25,597	$9.1m2.11%	2.11%	Reduced -909	-909 -3.4%
16	AIR PRODS & CHEMS INC COM APD	APD	28,670	$8.8m2.06%	2.06%	Reduced -631	-631 -2.1%
17	ALPHABET INC CAP STK CL A GOOGL	GOOGL	94,223	$8.3m1.94%	1.94%	Added +2.3k	+2,335 2.5%
18	LAUDER ESTEE COS INC CL A EL	EL	33,043	$8.2m1.91%	1.91%	Reduced -724	-724 -2.1%
19	INTUIT COM INTU	INTU	20,151	$7.8m1.83%	1.83%	Reduced -1.1k	-1,077 -5.1%
20	BECTON DICKINSON & CO COM BDX	BDX	28,752	$7.3m1.71%	1.71%	Reduced -449	-449 -1.5%
21	BRISTOL-MYERS SQUIBB CO COM BMY	BMY	101,100	$7.3m1.70%	1.70%	Reduced -19.2k	-19,170 -15.9%
22	HOME DEPOT INC COM HD	HD	21,775	$6.9m1.60%	1.60%	Reduced -736	-736 -3.3%
23	TRACTOR SUPPLY CO COM TSCO	TSCO	30,468	$6.9m1.60%	1.60%	Reduced -1.4k	-1,409 -4.4%
24	ADOBE INC COM ADBE	ADBE	18,705	$6.3m1.47%	1.47%	Reduced -133	-133 -0.7%
25	AMERICAN EXPRESS CO COM AXP	AXP	40,568	$6.0m1.40%	1.40%	Reduced -853	-853 -2.1%
26	AUTOMATIC DATA PROCESSING IN COM ADP	ADP	24,346	$5.8m1.36%	1.36%	Reduced -177	-177 -0.7%
27	VEEVA SYS INC CL A COM VEEV	VEEV	34,487	$5.6m1.30%	1.30%	Added +1.3k	+1,290 3.9%
28	SUNCOR ENERGY INC NEW COM SU	SU	173,707	$5.5m1.29%	1.29%	Added +13.5k	+13,500 8.4%
29	TRANE TECHNOLOGIES PLC SHS TT	TT	28,148	$4.7m1.10%	1.10%	Reduced -6	-6 -0.0%
30	AMAZON COM INC COM AMZN	AMZN	55,196	$4.6m1.08%	1.08%	Reduced -5.4k	-5,400 -8.9%
31	FASTENAL CO COM FAST	FAST	93,592	$4.4m1.03%	1.03%	Reduced -3.4k	-3,385 -3.5%
32	CBRE GROUP INC CL A CBRE	CBRE	55,938	$4.3m1.00%	1.00%	Reduced -1.6k	-1,600 -2.8%
33	WATSCO INC COM WSO	WSO	17,138	$4.3m1.00%	1.00%	Reduced -370	-370 -2.1%
34	ALPHABET INC CAP STK CL C GOOG	GOOG	48,121	$4.3m1.00%	1.00%	Reduced -825	-825 -1.7%
35	SERVICENOW INC COM NOW	NOW	10,855	$4.2m0.98%	0.98%	Reduced -303	-303 -2.7%
36	DANAHER CORPORATION COM DHR	DHR	15,358	$4.1m0.95%	0.95%	Reduced -150	-150 -1.0%
37	ORACLE CORP COM ORCL	ORCL	48,859	$4.0m0.93%	0.93%	Added +2.9k	+2,893 6.3%
38	ISHARES TR MSCI EAFE ETF EFA	EFA	59,053	$3.9m0.90%	0.90%	Added +12.1k	+12,080 25.7%
39	MONDELEZ INTL INC CL A MDLZ	MDLZ	55,287	$3.7m0.86%	0.86%	Reduced -7.3k	-7,336 -11.7%
40	ECOLAB INC COM ECL	ECL	25,132	$3.7m0.85%	0.85%	Reduced -1.7k	-1,665 -6.2%
41	PEPSICO INC COM PEP	PEP	19,776	$3.6m0.83%	0.83%	Added +68	+68 0.3%
42	ISHARES TR RUSSELL 2000 ETF IWM	IWM	18,013	$3.1m0.73%	0.73%	Reduced -6.4k	-6,402 -26.2%
43	ESSENTIAL UTILS INC COM WTRG	WTRG	61,917	$3.0m0.69%	0.69%	Reduced -2.5k	-2,459 -3.8%
44	DIGITAL RLTY TR INC COM DLR	DLR	29,285	$2.9m0.68%	0.68%	Reduced -12.6k	-12,644 -30.2%
45	PIMCO ETF TR ENHAN SHRT MA AC MINT	MINT	28,135	$2.8m0.65%	0.65%	Reduced -49.9k	-49,890 -63.9%
46	NEXSTAR MEDIA GROUP INC COMMON STOCK NXST	NXST	14,272	$2.5m0.58%	0.58%	Reduced -166	-166 -1.1%
47	ISHARES TR CORE S&P500 ETF IVV	IVV	6,398	$2.5m0.57%	0.57%	Unchanged
48	NASDAQ INC COM NDAQ	NDAQ	38,807	$2.4m0.56%	0.56%	Reduced -5.5k	-5,457 -12.3%
49	ZSCALER INC COM ZS	ZS	19,732	$2.2m0.51%	0.51%	Added +2.0k	+2,003 11.3%
50	ZOETIS INC CL A ZTS	ZTS	15,023	$2.2m0.51%	0.51%	Reduced -4.7k	-4,718 -23.9%
51	ABBVIE INC COM ABBV	ABBV	12,533	$2.0m0.47%	0.47%	Added +3.9k	+3,902 45.2%
52	NVIDIA CORPORATION COM NVDA	NVDA	13,712	$2.0m0.47%	0.47%	Added +3.0k	+3,015 28.2%
53	SYSCO CORP COM SYY	SYY	26,185	$2.0m0.47%	0.47%	Added +5.2k	+5,185 24.7%
54	EAST WEST BANCORP INC COM EWBC	EWBC	29,467	$1.9m0.45%	0.45%	Added +16.7k	+16,687 130.6%
55	EMERSON ELEC CO COM EMR	EMR	18,896	$1.8m0.42%	0.42%	Added +2.2k	+2,244 13.5%
56	VALMONT INDS INC COM VMI	VMI	5,130	$1.7m0.40%	0.40%	Reduced -135	-135 -2.6%
57	PROCTER AND GAMBLE CO COM PG	PG	10,945	$1.7m0.39%	0.39%	Added +995	+995 10.0%
58	VANGUARD BD INDEX FDS SHORT TRM BOND BSV	BSV	20,329	$1.5m0.36%	0.36%	Reduced -20.1k	-20,130 -49.8%
59	AMGEN INC COM AMGN	AMGN	5,532	$1.5m0.34%	0.34%	Added +1.3k	+1,256 29.4%
60	ABBOTT LABS COM ABT	ABT	11,272	$1.2m0.29%	0.29%	Reduced -3.3k	-3,294 -22.6%
61	VANGUARD INTL EQUITY INDEX F FTSE EMR MKT ETF VWO	VWO	31,306	$1.2m0.28%	0.28%	Added +6.6k	+6,590 26.7%
62	WALMART INC COM WMT	WMT	8,556	$1.2m0.28%	0.28%	Added +2.6k	+2,636 44.5%
63	UNITED RENTALS INC COM URI	URI	3,381	$1.2m0.28%	0.28%	Added +350	+350 11.6%
64	CHEVRON CORP NEW COM CVX	CVX	6,693	$1.2m0.28%	0.28%	Unchanged
65	MDU RES GROUP INC COM MDU	MDU	38,367	$1.2m0.27%	0.27%	Reduced -636	-636 -1.6%
66	VANGUARD MUN BD FDS TAX EXEMPT BD VTEB	VTEB	23,500	$1.2m0.27%	0.27%	Unchanged
67	REVVITY INC COM RVTY	RVTY	7,760	$1.1m0.25%	0.25%	Reduced -1.7k	-1,690 -17.9%
68	VANGUARD SCOTTSDALE FDS SHRT TRM CORP BD VCSH	VCSH	14,109	$1.1m0.25%	0.25%	Reduced -28.9k	-28,888 -67.2%
69	CVS HEALTH CORP COM CVS	CVS	11,000	$1.0m0.24%	0.24%	Unchanged
70	RPM INTL INC COM RPM	RPM	10,042	$978.6k0.23%	0.23%	Reduced -875	-875 -8.0%
71	CARMAX INC COM KMX	KMX	16,009	$974.8k0.23%	0.23%	Reduced -295	-295 -1.8%
72	PFIZER INC COM PFE	PFE	18,338	$939.6k0.22%	0.22%	Unchanged
73	ISHARES TR IBONDS DEC24 ETF IBDP	IBDP	36,975	$902.9k0.21%	0.21%	Reduced -1.8k	-1,800 -4.6%
74	VERISK ANALYTICS INC COM VRSK	VRSK	5,060	$892.7k0.21%	0.21%	Reduced -3.0k	-3,043 -37.5%
75	NIKE INC CL B NKE	NKE	7,465	$873.5k0.20%	0.20%	Reduced -2.3k	-2,273 -23.3%
76	JOHNSON & JOHNSON COM JNJ	JNJ	4,502	$795.3k0.19%	0.19%	Reduced -5	-5 -0.1%
77	ISHARES TR IBONDS DEC23 ETF IBONDS DEC23 ETF		31,475	$787.8k0.18%	0.18%	Reduced -1.8k	-1,800 -5.4%
78	STATE STR CORP COM STT	STT	9,800	$760.2k0.18%	0.18%	Unchanged
79	ISHARES TR IBONDS DEC25 ETF IBDQ	IBDQ	27,850	$677.3k0.16%	0.16%	Unchanged
80	EXXON MOBIL CORP COM XOM	XOM	5,969	$658.4k0.15%	0.15%	Reduced -570	-570 -8.7%
81	INGERSOLL RAND INC COM IR	IR	12,030	$628.6k0.15%	0.15%	Reduced -373	-373 -3.0%
82	ISHARES INC MSCI EM ASIA ETF EEMA	EEMA	9,434	$597.4k0.14%	0.14%	Reduced -150	-150 -1.6%
83	SPROTT ASSET MANAGEMENT LP TR UNIT CEF	CEF	33,000	$591.7k0.14%	0.14%	Unchanged
84	FORTIVE CORP COM FTV	FTV	8,899	$571.8k0.13%	0.13%	Reduced -250	-250 -2.7%
85	S&P GLOBAL INC COM SPGI	SPGI	1,680	$562.7k0.13%	0.13%	Unchanged
86	TRIMBLE INC COM TRMB	TRMB	10,955	$553.9k0.13%	0.13%	Reduced -591	-591 -5.1%
87	ISHARES TR RUS 1000 VAL ETF IWD	IWD	3,295	$499.7k0.12%	0.12%	Reduced -434	-434 -11.6%
88	STERICYCLE INC COM SRCL	SRCL	10,000	$498.9k0.12%	0.12%	Unchanged
89	ISHARES TR IBONDS DEC2026 IBDR	IBDR	20,975	$489.8k0.11%	0.11%	Unchanged
90	RITCHIE BROS AUCTIONEERS COM RBA	RBA	8,271	$478.3k0.11%	0.11%	Added +1.1k	+1,130 15.8%
91	NETFLIX INC COM NFLX	NFLX	1,400	$412.8k0.10%	0.10%	Reduced -1.4k	-1,370 -49.5%
92	KAMAN CORP NOTE 3.250% 5/0 KAMN 3.25 05.01.24	KAMN 3.25 05.01.24	440,000	$412.0k0.10%	0.10%	Unchanged
93	WALGREENS BOOTS ALLIANCE INC COM WBA	WBA	10,267	$383.6k0.09%	0.09%	Unchanged
94	FREEPORT-MCMORAN INC CL B FCX	FCX	10,000	$380.0k0.09%	0.09%	New
95	EXPEDITORS INTL WASH INC COM EXPD	EXPD	3,650	$379.3k0.09%	0.09%	Unchanged
96	SPDR SER TR BLOOMBERG SHT TE SJNK	SJNK	14,995	$363.5k0.08%	0.08%	Reduced -120.1k	-120,075 -88.9%
97	BERKSHIRE HATHAWAY INC DEL CL B NEW BRK.B	BRK.B	1,101	$340.1k0.08%	0.08%	Reduced -250	-250 -18.5%
98	COSTAR GROUP INC COM CSGP	CSGP	4,400	$340.0k0.08%	0.08%	New
99	PAYPAL HLDGS INC COM PYPL	PYPL	4,706	$335.2k0.08%	0.08%	Reduced -18.5k	-18,530 -79.8%
100	HALLIBURTON CO COM HAL	HAL	8,305	$326.8k0.08%	0.08%	Reduced -9.2k	-9,195 -52.5%

Sold out since Q3 2022

Security	Ticker	Shares held before	Value then
ISHARES TR		23,800	$596.0k23.8k shares
STANLEY BLACK & DECKER INC SWK	SWK	3,672	$276.0k3.7k shares
MEDIFAST INC MED	MED	1,861	$202.0k1.9k shares
ABIOMED INC ABMD	ABMD	537	$132.0k537 shares
CITRIX SYS INC CTXS	CTXS	1,100	$114.0k1.1k shares
ILLUMINA INC ILMN	ILMN	550	$105.0k550 shares
VANGUARD TAX-MANAGED FDS VEA	VEA	842	$31.0k842 shares
MARAVAI LIFESCIENCES HLDGS I MRVI	MRVI	975	$25.0k975 shares
LEIDOS HOLDINGS INC LDOS	LDOS	225	$20.0k225 shares
ONEOK INC NEW OKE	OKE	275	$14.0k275 shares
MEDTRONIC PLC MDT	MDT	134	$11.0k134 shares
INTEL CORP INTC	INTC	143	$4.0k143 shares
DISCOVER FINL SVCS DFS	DFS	29	$3.0k29 shares