Financial Consulate, Inc.
In its 13F for Q2 2025 (holdings as of June 30, 2025, filed July 18, 2025), Financial Consulate, Inc. reported 37 stock positions worth $506.5 million. Its top holding was Schwab US Large-Cap ETF (SCHX) at 22.7% of the portfolio, followed by Dimensional US High Profi Et (DUHP, 13.2%) and PIMCO Rafi Dynamic Multi-Fac (MFDX, 11.5%). Compared with Q1 2025, it opened 13 new positions, sold out of 2, added to 11 and reduced 12. The biggest buy was Dimensional US High Profi Et (DUHP, shares +110%) and the biggest sale PIMCO Rafi Dynamic Multi-Fac (MFDX, shares −12%).
- Most Recent 13F
- Q2 2026
- Location
- HUNT VALLEY, MD
- CIK
- 0001624510
- Portfolio Value
- $506.5M (Q2 2025)
- SEC Filing
- 0001624510-25-000006 ↗ filed Jul 18, 2025
Holdings Value
Holdings 37 stocks · $506.5M
| SCHX Schwab US Large-Cap ETF | 22.69% | 4,703,142 | $114.9M | Add +14.2% |
| DUHP Dimensional US High Profi Et | 13.16% | 1,874,235 | $66.6M | Add +109.5% |
| MFDX PIMCO Rafi Dynamic Multi-Fac filed as PIMCO EQUITY SER | 11.55% | 1,627,837 | $58.5M | Reduce -12.1% |
| SCHF Schwab Intl Equity ETF | 7.98% | 1,829,904 | $40.4M | Reduce -1.9% |
| FNDB Schwab Fndmntl US BRD Mr ETF | 6.74% | 1,422,825 | $34.1M | Reduce -13.1% |
| DFAS Dimensional US Small Cap ETF | 5.00% | 397,666 | $25.3M | Add +12.1% |
| DIHP Dimensional International Hi | 4.85% | 832,618 | $24.6M | New |
| VTIP Vanguard Short-Term Tips | 4.65% | 468,427 | $23.5M | Add +4.5% |
| SCHD Schwab US DVD Equity ETF | 4.18% | 799,472 | $21.2M | Add +2.6% |
| FLQM Franklin U.S. Mid Cap Multif | 3.86% | 359,563 | $19.5M | Add +8.0% |
| TCAF T Rowe PRC Cap Appreciation | 3.59% | 514,761 | $18.2M | Reduce -1.1% |
| GMF State Street SPDR S&P Emergi | 2.26% | 90,694 | $11.5M | Add +4.2% |
| FNDF Schwab Fndmn Intl LRG Co. ETF | 1.48% | 187,835 | $7.5M | New |
| PULS Pgim Ultra Short Bond ETF | 1.17% | 119,032 | $5.9M | Add +1.4% |
| DFAT Dimensional US Target Value | 0.69% | 64,317 | $3.5M | Reduce -52.6% |
| MFUS PIMCO Rafi Dynamic Multi-Fac filed as PIMCO EQUITY SER | 0.67% | 63,537 | $3.4M | New |
| VOO Vanguard S&P 500 ETF | 0.66% | 5,916 | $3.4M | Add +0.1% |
| SPGM State Street SPDR Portfolio | 0.56% | 41,176 | $2.8M | Add +4.5% |
| SCHB Schwab US Broad Market ETF | 0.55% | 117,334 | $2.8M | Reduce -3.7% |
| IVV iShares Core S&P 500 ETF | 0.47% | 3,867 | $2.4M | Reduce -3.4% |
| SCHR Schwab Intermediate-Term US | 0.43% | 87,925 | $2.2M | Reduce -1.8% |
| SCHG Schwab US Large-Cap Growth | 0.34% | 58,221 | $1.7M | Add +0.1% |
| TURN 180 Degree Capital Corp. | 0.29% | 367,482 | $1.5M | Reduce -1.9% |
| VGT Vanguard Info Tech ETF | 0.26% | 1,999 | $1.3M | New |
| ITOT iShares Core S&P Total U.S. | 0.24% | 9,020 | $1.2M | New |
| BRK.B Berkshire Hathaway Inc. Class B | 0.21% | 2,188 | $1.1M | New |
| CWI State Street SPDR MSCI Acwi | 0.19% | 30,171 | $985K | New |
| GOOGL Alphabet Inc. Class A | 0.19% | 5,553 | $979K | New |
| PENNYMAC CORP (PMT 5.5 03/15/26) | 0.19% | 961,000 | $966K | New |
| BLACKSTONE MORTGAGE TR (BXMT 5.5 03/15/27) | 0.19% | 973,000 | $961K | New |
| VTI VG Morningstar TS MKT ETF-US | 0.12% | 1,991 | $605K | Reduce -13.3% |
| BNDX Vanguard Total Intl Bond ETF | 0.10% | 10,526 | $521K | No change |
| AGG iShares Core U.S. Aggregate | 0.10% | 5,203 | $516K | Reduce -13.6% |
| VIS Vanguard Industrials ETF | 0.10% | 1,749 | $490K | New |
| XLY SS Consumer Disc Select Sect | 0.10% | 2,252 | $489K | New |
| IWF iShares Russell 1000 Growth | 0.09% | 1,070 | $454K | New |
| SCHZ Schwab US Aggregate Bond ETF | 0.09% | 19,172 | $446K | Reduce -10.7% |
Portfolio Sells Q1 2025 → Q2 2025
| MFDX PIMCO Rafi Dynamic Multi-Fac | Reduce -12.1% | 11.55% | −3.39 |
| FNDB Schwab Fndmntl US BRD Mr ETF | Reduce -13.1% | 6.74% | −2.77 |
| SCHF Schwab Intl Equity ETF | Reduce -1.9% | 7.98% | −1.33 |
| DFAT Dimensional US Target Value | Reduce -52.6% | 0.69% | −1.08 |
| TCAF T Rowe PRC Cap Appreciation | Reduce -1.1% | 3.59% | −0.65 |
| DIGITALOCEAN HOLDINGS (DOCN 0 12/01/26) | Sold out | 0.00% | −0.20 |
| SCHM Schwab US Mid Cap ETF | Sold out | 0.00% | −0.14 |
| SCHR Schwab Intermediate-Term US | Reduce -1.8% | 0.43% | −0.13 |
| SCHB Schwab US Broad Market ETF | Reduce -3.7% | 0.55% | −0.11 |
| IVV iShares Core S&P 500 ETF | Reduce -3.4% | 0.47% | −0.09 |
| TURN 180 Degree Capital Corp. | Reduce -1.9% | 0.29% | −0.09 |
| AGG iShares Core U.S. Aggregate | Reduce -13.6% | 0.10% | −0.05 |
| VTI VG Morningstar TS MKT ETF-US | Reduce -13.3% | 0.12% | −0.04 |
| SCHZ Schwab US Aggregate Bond ETF | Reduce -10.7% | 0.09% | −0.04 |
Portfolio Buys Q1 2025 → Q2 2025
| DUHP Dimensional US High Profi Et | Add +109.5% | 13.16% | +5.67 |
| DIHP Dimensional International Hi | New | 4.85% | +4.85 |
| FNDF Schwab Fndmn Intl LRG Co. ETF | New | 1.48% | +1.48 |
| MFUS PIMCO Rafi Dynamic Multi-Fac | New | 0.67% | +0.67 |
| VGT Vanguard Info Tech ETF | New | 0.26% | +0.26 |
| ITOT iShares Core S&P Total U.S. | New | 0.24% | +0.24 |
| BRK.B Berkshire Hathaway Inc. Class B | New | 0.21% | +0.21 |
| CWI State Street SPDR MSCI Acwi | New | 0.19% | +0.19 |
| GOOGL Alphabet Inc. Class A | New | 0.19% | +0.19 |
| PENNYMAC CORP (PMT 5.5 03/15/26) | New | 0.19% | +0.19 |
| BLACKSTONE MORTGAGE TR (BXMT 5.5 03/15/27) | New | 0.19% | +0.19 |
| VIS Vanguard Industrials ETF | New | 0.10% | +0.10 |
| XLY SS Consumer Disc Select Sect | New | 0.10% | +0.10 |
| IWF iShares Russell 1000 Growth | New | 0.09% | +0.09 |
| SCHG Schwab US Large-Cap Growth | Add +0.1% | 0.34% | −0.03 |
| SPGM State Street SPDR Portfolio | Add +4.5% | 0.56% | −0.06 |
| VOO Vanguard S&P 500 ETF | Add +0.1% | 0.66% | −0.10 |
| SCHX Schwab US Large-Cap ETF | Add +14.2% | 22.69% | −0.26 |
| GMF State Street SPDR S&P Emergi | Add +4.2% | 2.26% | −0.28 |
| PULS Pgim Ultra Short Bond ETF | Add +1.4% | 1.17% | −0.30 |
| DFAS Dimensional US Small Cap ETF | Add +12.1% | 5.00% | −0.35 |
| FLQM Franklin U.S. Mid Cap Multif | Add +8.0% | 3.86% | −0.60 |
| VTIP Vanguard Short-Term Tips | Add +4.5% | 4.65% | −1.00 |
| SCHD Schwab US DVD Equity ETF | Add +2.6% | 4.18% | −1.32 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 1,440 | $898.5M | SCHX, DUHP, MFDX, SCHF, DIHP |
| Q1 2026 | 1,394 | $802.6M | SCHX, DUHP, MFDX, SCHF, DIHP |
| Q4 2025 | 1,330 | $731.4M | SCHX, DUHP, MFDX, SCHF, DIHP |
| Q3 2025 | 1,148 | $708.2M | SCHX, DUHP, MFDX, SCHF, DIHP |
| Q2 2025 | 37 | $506.5M | SCHX, DUHP, MFDX, SCHF, FNDB |
| Q1 2025 | 26 | $396.2M | SCHX, MFDX, FNDB, SCHF, DUHP |
| Q4 2024 | 31 | $377.1M | SCHX, SCHF, FNDB, MFDX, DUHP |
| Q3 2024 | 34 | $376.5M | SCHX, SCHF, FNDB, MFDX, DUHP |
| Q2 2024 | 35 | $341.2M | SCHX, SCHF, FNDB, DUHP, MFDX |
| Q1 2024 | 40 | $338.4M | SCHX, SCHF, FNDB, DUHP, MFDX |