Financial Consulate, Inc.
In its 13F for Q1 2026 (holdings as of March 31, 2026, filed April 21, 2026), Financial Consulate, Inc. reported 1,394 stock positions worth $802.6 million. Its top holding was Schwab US Large-Cap ETF (SCHX) at 16.6% of the portfolio, followed by Dimensional US High Profi Et (DUHP, 9.3%) and PIMCO Rafi Dynamic Multi-Fac (MFDX, 8.4%). Compared with Q4 2025, it opened 168 new positions, sold out of 105, added to 497 and reduced 204. The biggest buy was a new position in iShares 0-1 Year Treasury Bo (SHV) and the biggest sale Schwab US Large-Cap ETF (SCHX, shares −0%).
- Most Recent 13F
- Q2 2026
- Location
- HUNT VALLEY, MD
- CIK
- 0001624510
- Portfolio Value
- $802.6M (Q1 2026)
- SEC Filing
- 0001624510-26-000003 ↗ filed Apr 21, 2026
Holdings Value
Holdings 1,394 stocks · $802.6M
| SCHX Schwab US Large-Cap ETF | 16.59% | 5,192,173 | $133.1M | Reduce -0.2% |
| DUHP Dimensional US High Profi Et | 9.34% | 2,038,669 | $74.9M | Add +2.5% |
| MFDX PIMCO Rafi Dynamic Multi-Fac filed as PIMCO EQUITY SER | 8.37% | 1,686,385 | $67.2M | Add +1.0% |
| SCHF Schwab Intl Equity ETF | 5.72% | 1,854,408 | $45.9M | Add +1.7% |
| DIHP Dimensional International Hi | 4.96% | 1,236,578 | $39.8M | Add +3.5% |
| SHV iShares 0-1 Year Treasury Bo | 4.52% | 328,716 | $36.3M | New |
| VTIP Vanguard Short-Term Tips | 4.39% | 705,949 | $35.3M | Add +26.6% |
| DFAS Dimensional US Small Cap ETF | 3.75% | 422,592 | $30.1M | Reduce -0.5% |
| FNDB Schwab Fndmntl US BRD Mr ETF | 3.52% | 1,039,540 | $28.3M | Add +2.0% |
| SHY iShares 1-3 Year Treasury Bo | 3.33% | 323,277 | $26.7M | New |
| FLQM Franklin U.S. Mid Cap Multif | 2.57% | 376,016 | $20.7M | Reduce -1.1% |
| AAPL Apple Inc. | 2.44% | 77,287 | $19.6M | Reduce -1.0% |
| PULS Pgim Ultra Short Bond ETF | 2.44% | 395,811 | $19.6M | Add +72.3% |
| FNDE Schwab Fndmntl Em MRK Eq ETF | 2.16% | 453,683 | $17.4M | Add +2.8% |
| TCAF T Rowe PRC Cap Appreciation | 1.97% | 443,936 | $15.8M | Add +0.5% |
| MFUS PIMCO Rafi Dynamic Multi-Fac filed as PIMCO EQUITY SER | 1.92% | 263,494 | $15.4M | Add +245.9% |
| SCHD Schwab US DVD Equity ETF | 1.58% | 413,529 | $12.7M | Reduce -48.0% |
| FNDF Schwab Fndmn Intl LRG Co. ETF | 1.47% | 241,299 | $11.8M | Add +3.0% |
| MKC McCormick & Co.-Non VTG SHRS | 1.15% | 183,487 | $9.3M | Add +0.0% |
| GMF State Street SPDR S&P Emergi | 1.14% | 67,381 | $9.2M | Add +0.5% |
| PATK Patrick Industries Inc. | 0.73% | 52,645 | $5.8M | No change |
| SPGM State Street SPDR Portfolio | 0.63% | 67,103 | $5.1M | Add +49.8% |
| NVDA Nvidia Corp. | 0.59% | 27,348 | $4.8M | Reduce -0.2% |
| VOO Vanguard S&P 500 ETF | 0.48% | 6,418 | $3.8M | Add +7.5% |
| TXG 10X Genomics Inc. Class A | 0.41% | 156,457 | $3.3M | No change |
| MSFT Microsoft Corp. | 0.37% | 8,080 | $3.0M | Reduce -2.8% |
| SCHB Schwab US Broad Market ETF | 0.33% | 106,928 | $2.7M | Reduce -3.4% |
| PNC PNC Financial Services Group | 0.32% | 12,426 | $2.6M | Add +0.0% |
| DFAT Dimensional US Target Value | 0.32% | 41,354 | $2.6M | Reduce -1.2% |
| IVV iShares Core S&P 500 ETF | 0.32% | 3,950 | $2.6M | Add +4.7% |
| AMZN Amazon.com Inc. | 0.29% | 11,340 | $2.4M | Reduce -3.7% |
| GOOG Alphabet Inc. Class C | 0.28% | 7,774 | $2.2M | Add +6.5% |
| LMT Lockheed Martin Corp. | 0.25% | 3,362 | $2.0M | Reduce -1.5% |
| GOOGL Alphabet Inc. Class A | 0.22% | 6,155 | $1.8M | Add +0.7% |
| CAT Caterpillar Inc. | 0.20% | 2,257 | $1.6M | Add +2.0% |
| SCHG Schwab US Large-Cap Growth | 0.19% | 53,093 | $1.5M | Reduce -8.9% |
| RTX RTX Corp. | 0.17% | 7,257 | $1.4M | Reduce -7.3% |
| VGT Vanguard Info Tech ETF | 0.17% | 1,999 | $1.4M | No change |
| XOM Exxon Mobil Corp. | 0.16% | 7,743 | $1.3M | Reduce -20.7% |
| COST Costco Wholesale Corp. | 0.16% | 1,250 | $1.2M | Add +1.1% |
| JPM JPMorgan Chase & Co. | 0.15% | 4,095 | $1.2M | Add +1.7% |
| MA Mastercard Inc. Class A | 0.14% | 2,294 | $1.1M | Reduce -10.4% |
| LLY Eli Lilly & Co. | 0.14% | 1,245 | $1.1M | Add +0.8% |
| CWI State Street SPDR MSCI Acwi | 0.14% | 29,613 | $1.1M | Reduce -1.6% |
| PG The Procter & Gamble Co. | 0.13% | 7,430 | $1.1M | Reduce -3.0% |
| SCHW Schwab (charles) Corp. | 0.13% | 11,221 | $1.1M | Add +0.3% |
| ITOT iShares Core S&P Total U.S. | 0.13% | 7,293 | $1.0M | No change |
| BRK.B Berkshire Hathaway Inc. Class B | 0.13% | 2,166 | $1.0M | Add +0.5% |
| TSLA Tesla Inc. | 0.13% | 2,779 | $1.0M | Add +6.9% |
| CEG Constellation Energy | 0.12% | 3,552 | $992K | Add +1.3% |
| UPS United Parcel Service Class B | 0.12% | 9,887 | $973K | Add +0.5% |
| MGP INGREDIENTS INC (MGPI 1.875 11/15/41) | 0.12% | 994,000 | $959K | Add +0.7% |
| FAST Fastenal Co. | 0.12% | 20,547 | $953K | Add +0.1% |
| BLACKSTONE MORTGAGE TR (BXMT 5.5 03/15/27) | 0.12% | 954,000 | $948K | Add +0.1% |
| SAREPTA THERAPEUTICS INC (SRPT 1.25 09/15/27) | 0.11% | 999,000 | $920K | New |
| MRK Merck & Co. Inc. | 0.11% | 7,558 | $909K | Reduce -13.2% |
| PEBBLEBROOK HOTEL TRUST (PEB 1.75 12/15/26) | 0.11% | 894,000 | $882K | No change |
| JNJ Johnson & Johnson | 0.11% | 3,524 | $862K | Add +5.0% |
| SCHA Schwab US Small-Cap ETF | 0.10% | 28,364 | $825K | Add +193.6% |
| TJX TJX Companies Inc. filed as TJX COS INC NEW | 0.10% | 4,987 | $796K | Reduce -20.8% |
| CVX Chevron Corp. | 0.10% | 3,762 | $778K | Add +1.2% |
| MCD McDonald's Corp. | 0.10% | 2,492 | $774K | Add +6.0% |
| BRK.A Berkshire Hathaway Inc. Class A | 0.09% | 1 | $718K | No change |
| SCHM Schwab US Mid Cap ETF | 0.09% | 22,981 | $712K | Add +0.1% |
| V Visa Inc. Class A | 0.09% | 2,277 | $688K | Reduce -21.0% |
| VTI VG Morningstar TS MKT ETF-US | 0.09% | 2,126 | $682K | Add +2.9% |
| HD Home Depot Inc. | 0.08% | 2,035 | $669K | Reduce -4.3% |
| ABBV Abbvie Inc. | 0.08% | 3,069 | $667K | Add +2.0% |
| CSX CSX Corp. | 0.08% | 15,956 | $655K | Add +0.5% |
| DOCU Docusign Inc. | 0.08% | 13,782 | $653K | Reduce -2.1% |
| MLCI Mount Logan Capital Inc. | 0.08% | 174,957 | $626K | Reduce -6.9% |
| HPE Hewlett Packard Enterprise | 0.08% | 26,305 | $626K | Reduce -3.2% |
| SNAP INC (SNAP 0 05/01/27) | 0.08% | 655,000 | $618K | No change |
| REDFIN CORP (RDFN 0.5 04/01/27) | 0.07% | 592,000 | $567K | Reduce -3.3% |
| EXC Exelon Corp. | 0.07% | 11,557 | $567K | Add +2.4% |
| META Meta Platforms Inc. Class A | 0.07% | 971 | $556K | Add +9.5% |
| BANDWIDTH INC (BAND 0.5 04/01/28) | 0.07% | 612,000 | $545K | Reduce -45.0% |
| VIS Vanguard Industrials ETF | 0.06% | 1,656 | $517K | No change |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 0.06% | 2,131 | $516K | Add +1.7% |
| T AT&T Inc. | 0.06% | 17,427 | $505K | Reduce -20.5% |
| LRCX Lam Research Corp. | 0.06% | 2,254 | $482K | Add +4.5% |
| PEP Pepsico Inc. | 0.06% | 3,062 | $476K | Reduce -10.7% |
| BNDX Vanguard Total Intl Bond ETF | 0.06% | 9,736 | $468K | Reduce -7.5% |
| URI United Rentals Inc. | 0.06% | 636 | $463K | Add +0.3% |
| IWF iShares Russell 1000 Growth | 0.06% | 1,036 | $442K | Reduce -3.2% |
| XLY SS Consumer Disc Select Sect | 0.05% | 4,038 | $440K | Reduce -0.7% |
| SCHZ Schwab US Aggregate Bond ETF | 0.05% | 18,718 | $435K | Reduce -3.4% |
| DHR Danaher Corp. | 0.05% | 2,290 | $434K | Reduce -30.6% |
| EGY Vaalco Energy Inc. | 0.05% | 66,900 | $424K | No change |
| HEI.A Heico Corp. Class A | 0.05% | 1,965 | $415K | Reduce -24.3% |
| ASML ASML Holding NV-NY Reg SHS filed as ASML HLDG NV | 0.05% | 303 | $400K | Reduce -27.9% |
| LIN Linde PLC | 0.05% | 793 | $393K | Add +0.8% |
| UBER Uber Technologies Inc. | 0.05% | 5,417 | $390K | Reduce -30.6% |
| ISRG Intuitive Surgical Inc. | 0.05% | 835 | $385K | Reduce -12.5% |
| AVGO Broadcom Inc. | 0.05% | 1,240 | $384K | Add +74.2% |
| MRSH Marsh & McLennan Cos | 0.05% | 2,210 | $383K | Reduce -0.4% |
| MPWR Monolithic Power Systems Inc. | 0.05% | 350 | $383K | Reduce -33.7% |
| TSM Taiwan Semiconductor-SP ADR | 0.05% | 1,126 | $380K | Add +47.2% |
| SPECTRUM BRANDS INC (SPB 3.375 06/01/29) | 0.05% | 378,000 | $376K | No change |
| COR Cencora Inc. | 0.05% | 1,177 | $370K | Add +1.6% |
Other holdings (8): bonds, preferreds, convertibles and warrants · $4K (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| OXY.WS Occidental Petroleum-CW27 | *W EXP 08/03/202 | 61 | $3K | No change |
| ASPSW Altisource Portfolio - 30 | *W EXP 04/30/203 | 1,550 | $589 | No change |
| ASPSZ Altisource Portfolio - 29C | *W EXP 04/02/202 | 1,550 | $310 | No change |
| OPENW Opendoor Technologies Inc.-26 | *W EXP 11/20/202 | 71 | $43 | No change |
| OPENL Opendoor Technologies Inc.-26 | *W EXP 11/20/202 | 71 | $18 | No change |
| OPENZ Opendoor Technologies Inc.-26 | *W EXP 11/20/202 | 71 | $17 | No change |
| GME.WS Gamestop Corp. | *W EXP 10/30/202 | 2 | $8 | No change |
| DSX.WS Diana Shipping Inc.-28 | *W EXP 12/14/202 | 25 | $6 | No change |
Total filed on the 13F, all lines: $802.6M.
Portfolio Sells Q4 2025 → Q1 2026
| SCHX Schwab US Large-Cap ETF | Reduce -0.2% | 16.59% | −2.55 |
| SCHD Schwab US DVD Equity ETF | Reduce -48.0% | 1.58% | −1.40 |
| AAPL Apple Inc. | Reduce -1.0% | 2.44% | −0.46 |
| FLQM Franklin U.S. Mid Cap Multif | Reduce -1.1% | 2.57% | −0.35 |
| DFAS Dimensional US Small Cap ETF | Reduce -0.5% | 3.75% | −0.30 |
| MSFT Microsoft Corp. | Reduce -2.8% | 0.37% | −0.18 |
| MLCI Mount Logan Capital Inc. | Reduce -6.9% | 0.08% | −0.13 |
| PENNYMAC CORP (PMT 5.5 03/15/26) | Sold out | 0.00% | −0.13 |
| NVDA Nvidia Corp. | Reduce -0.2% | 0.59% | −0.10 |
| SUMMIT HOTEL PROPERTIES (INN 1.5 02/15/26) | Sold out | 0.00% | −0.08 |
| AMZN Amazon.com Inc. | Reduce -3.7% | 0.29% | −0.08 |
| SCHG Schwab US Large-Cap Growth | Reduce -8.9% | 0.19% | −0.07 |
| BANDWIDTH INC (BAND 0.5 04/01/28) | Reduce -45.0% | 0.07% | −0.07 |
| SCHB Schwab US Broad Market ETF | Reduce -3.4% | 0.33% | −0.06 |
| MA Mastercard Inc. Class A | Reduce -10.4% | 0.14% | −0.06 |
| V Visa Inc. Class A | Reduce -21.0% | 0.09% | −0.05 |
| DOCU Docusign Inc. | Reduce -2.1% | 0.08% | −0.05 |
| DHR Danaher Corp. | Reduce -30.6% | 0.05% | −0.05 |
| TMO Thermo Fisher Scientific Inc. | Reduce -88.8% | 0.00% | −0.05 |
| INTU Intuit Inc. | Reduce -91.0% | 0.00% | −0.04 |
| NOW ServiceNow Inc. | Reduce -43.1% | 0.02% | −0.04 |
| SPGI S&P Global Inc. | Reduce -69.2% | 0.01% | −0.04 |
| UBER Uber Technologies Inc. | Reduce -30.6% | 0.05% | −0.04 |
| WST West Pharmaceutical Services | Sold out | 0.00% | −0.04 |
| HEI.A Heico Corp. Class A | Reduce -24.3% | 0.05% | −0.04 |
| VEEV Veeva Systems Inc. Class A | Reduce -54.0% | 0.02% | −0.04 |
| TJX TJX Companies Inc. | Reduce -20.8% | 0.10% | −0.03 |
| CDNS Cadence Design SYS Inc. | Reduce -43.7% | 0.03% | −0.03 |
| TXN Texas Instruments Inc. | Reduce -78.3% | 0.01% | −0.03 |
| PCOR Procore Technologies Inc. | Reduce -60.2% | 0.01% | −0.03 |
| ISRG Intuitive Surgical Inc. | Reduce -12.5% | 0.05% | −0.03 |
| CBRE CBRE Group Inc. Class A | Reduce -23.2% | 0.04% | −0.03 |
| AGG iShares Core U.S. Aggregate | Reduce -29.2% | 0.05% | −0.03 |
| TDG Transdigm Group Inc. | Reduce -21.2% | 0.04% | −0.03 |
| TYL Tyler Technologies Inc. | Reduce -60.1% | 0.01% | −0.03 |
| VMC Vulcan Materials Co. | Reduce -30.3% | 0.04% | −0.03 |
| CPRT Copart Inc. | Reduce -60.1% | 0.01% | −0.02 |
| KNSL Kinsale Capital Group Inc. | Reduce -59.3% | 0.01% | −0.02 |
| MARRIOTT VACATION WORLDW (VAC 0 01/15/26) | Sold out | 0.00% | −0.02 |
| SHW The Sherwin-Williams Co. | Reduce -47.4% | 0.02% | −0.02 |
| CSGP Costar Group Inc. | Reduce -48.4% | 0.01% | −0.02 |
| SNPS Synopsys Inc. | Reduce -62.3% | 0.01% | −0.02 |
| MCO Moody's Corp. | Reduce -24.2% | 0.03% | −0.02 |
| RTX RTX Corp. | Reduce -7.3% | 0.17% | −0.02 |
| WCN Waste Connections Inc. | Reduce -32.4% | 0.03% | −0.02 |
| SPYM Ste STR SPDR PT S&P 500 ETF | Reduce -32.6% | 0.03% | −0.02 |
| MANH Manhattan Associates Inc. | Reduce -60.2% | 0.01% | −0.02 |
| IJR iShares Core S&P Small-Cap E | Reduce -30.3% | 0.04% | −0.02 |
| DFAT Dimensional US Target Value | Reduce -1.2% | 0.32% | −0.02 |
| SPYG SS SPDR P S&P 500 Growth ETF | Reduce -29.6% | 0.03% | −0.02 |
Portfolio Buys Q4 2025 → Q1 2026
| SHV iShares 0-1 Year Treasury Bo | New | 4.52% | +4.52 |
| SHY iShares 1-3 Year Treasury Bo | New | 3.33% | +3.33 |
| MFUS PIMCO Rafi Dynamic Multi-Fac | Add +245.9% | 1.92% | +1.33 |
| PULS Pgim Ultra Short Bond ETF | Add +72.3% | 2.44% | +0.88 |
| VTIP Vanguard Short-Term Tips | Add +26.6% | 4.39% | +0.62 |
| SPGM State Street SPDR Portfolio | Add +49.8% | 0.63% | +0.16 |
| SAREPTA THERAPEUTICS INC (SRPT 1.25 09/15/27) | New | 0.11% | +0.11 |
| SCHA Schwab US Small-Cap ETF | Add +193.6% | 0.10% | +0.07 |
| CAT Caterpillar Inc. | Add +2.0% | 0.20% | +0.03 |
| FNDF Schwab Fndmn Intl LRG Co. ETF | Add +3.0% | 1.47% | +0.02 |
| CVX Chevron Corp. | Add +1.2% | 0.10% | +0.02 |
| MUB iShares National Muni Bond E | Add +5971.4% | 0.02% | +0.02 |
| TSM Taiwan Semiconductor-SP ADR | Add +47.2% | 0.05% | +0.02 |
| AVGO Broadcom Inc. | Add +74.2% | 0.05% | +0.01 |
| BE Bloom Energy Corp. Class A | Add +0.9% | 0.04% | +0.01 |
| ESGU iShares ESG Aware MSCI USA | New | 0.01% | +0.01 |
| JNJ Johnson & Johnson | Add +5.0% | 0.11% | +0.01 |
| MU Micron Technology Inc. | Add +20.1% | 0.04% | +0.01 |
| LRCX Lam Research Corp. | Add +4.5% | 0.06% | +0.01 |
| COST Costco Wholesale Corp. | Add +1.1% | 0.16% | +0.01 |
| PRM Perimeter Solutions Inc. | New | 0.01% | +0.01 |
| APH Amphenol Corp. Class A | Add +1950.0% | 0.01% | +0.01 |
| MO Altria Group Inc. | Add +335.3% | 0.01% | +0.01 |
| EFV iShares MSCI Eafe Value ETF | New | 0.01% | +0.01 |
| GEV GE Vernova Inc. | Add +9.5% | 0.03% | +0.01 |
| TRGP Targa Resources Corp. | Add +5.2% | 0.03% | +0.01 |
| INTC Intel Corp. | Add +23.9% | 0.03% | +0.01 |
| GLD SPDR Gold Shares | Add +24.6% | 0.04% | +0.01 |
| VCSH Vanguard S/T Corp. Bond ETF | Add +52.6% | 0.03% | +0.01 |
| KGC Kinross Gold Corp. | Add +353.0% | 0.01% | +0.01 |
| NVS Novartis AG-Sponsored ADR | Add +213.0% | 0.01% | +0.01 |
| FAST Fastenal Co. | Add +0.1% | 0.12% | +0.01 |
| SLV iShares Silver Trust | Add +52.7% | 0.02% | +0.01 |
| EMXC iShares MSCI Emr MRK Ex Chna | New | 0.01% | +0.01 |
| LOW Lowe's Cos Inc. | Add +214.9% | 0.01% | +0.01 |
| SYK Stryker Corp. | Add +329.6% | 0.01% | +0.01 |
| WAT Waters Corp. | New | 0.01% | +0.01 |
| VPL Vanguard Ftse Pacific ETF | Add +27.8% | 0.03% | +0.01 |
| AMAT Applied Materials Inc. | Add +33.0% | 0.01% | +0.01 |
| EFG iShares MSCI Eafe Growth ETF | Add +86.5% | 0.01% | +0.00 |
| XLE SS Energy Select Sector | Add +1.0% | 0.02% | +0.00 |
| TAK Takeda Pharmaceutic-SP ADR | Add +238.0% | 0.01% | +0.00 |
| TTE Totalenergies SE | Add +341.1% | 0.01% | +0.00 |
| VZ Verizon Communications Inc. | Add +0.2% | 0.04% | +0.00 |
| SCCO Southern Copper Corp. | Add +1.3% | 0.04% | +0.00 |
| IYW iShares Ustechnology ETF | Add +800.0% | 0.00% | +0.00 |
| HON Honeywell International Inc. | Add +3.8% | 0.05% | +0.00 |
| NEM Newmont Corp. | Add +129.6% | 0.01% | +0.00 |
| LPL LG Display Co. Ltd.-ADR | Add +2375.7% | 0.00% | +0.00 |
| CDE Coeur Mining Inc. | Add +5110.0% | 0.00% | +0.00 |
Notes & Other Activity Q4 2025 → Q1 2026
| MOS The Mosaic Co. | COM | Sold out | 0 | $6before exit |
Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.
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 |