Passive Capital Management, LLC.

In its 13F for Q1 2024 (holdings as of March 31, 2024, filed September 25, 2024), Passive Capital Management, LLC. reported 59 stock positions worth $255.5 million. Its top holding was Vanguard Real Estate ETF (VNQ) at 18.2% of the portfolio, followed by Vanguard Tax-Exempt Bond ETF (VTEB, 13.5%) and Dimensional US Core Equity 2 (DFAC, 9.9%). Compared with Q4 2023, it opened 5 new positions, added to 15 and reduced 12. The biggest buy was Dimensional US Core Equity 2 (DFAC, shares +4%) and the biggest sale Vanguard Real Estate ETF (VNQ, shares −1%).

Most Recent 13F
Q2 2026
Location
BALTIMORE, MD
CIK
0001958250
Portfolio Value
$255.5M (Q1 2024)
SEC Filing
0001214659-24-016716 ↗ filed Sep 25, 2024

Holdings Value

0$100.0M$200.0M$300.0M$400.0M Q1 2024: $255.5M $255.5M Q1 2024 Q2 2024: $269.4M Q2 2024 Q3 2024: $286.5M Q3 2024 Q4 2024: $284.1M Q4 2024 Q1 2025: $315.8M Q1 2025 Q2 2025: $321.4M Q2 2025 Q3 2025: $306.6M Q3 2025 Q4 2025: $319.8M Q4 2025 Q1 2026: $334.9M Q1 2026 Q2 2026: $319.8M Q2 2026

Holdings 59 stocks · $255.5M
VNQ Vanguard Real Estate ETF 18.17% 536,943 $46.4M Reduce -0.8%
VTEB Vanguard Tax-Exempt Bond ETF 13.46% 679,649 $34.4M Add +6.3%
DFAC Dimensional US Core Equity 2 9.88% 789,775 $25.2M Add +3.6%
SCHO Schwab Short-Term US Treas 9.73% 515,543 $24.9M Add +0.9%
AVUS Avantis U.S. Equity ETF 6.91% 197,237 $17.7M Reduce -0.6%
SCHB Schwab US Broad Market ETF 4.43% 185,330 $11.3M Reduce -0.4%
AVDE Avantis International Equity 4.38% 175,601 $11.2M Add +2.5%
DFIC Dimensional International Co. 3.61% 344,413 $9.2M Reduce -4.3%
DFAT Dimensional US Target Value 3.08% 144,669 $7.9M Add +0.1%
AVEM Avantis Emerging Markets Eq 2.69% 118,741 $6.9M Add +0.8%
MUB iShares National Muni Bond E 2.44% 57,855 $6.2M Reduce -1.8%
AVUV Avantis US Small Cap Value 2.02% 54,973 $5.2M Add +2.0%
VTIP Vanguard Short-Term Tips 1.91% 102,058 $4.9M Add +13.1%
SCHR Schwab Intermediate-Term US 1.51% 78,904 $3.9M Reduce -2.3%
SCHH Schwab US REIT ETF 1.40% 176,183 $3.6M Add +0.3%
AVSC Avantis US Small Cap Equity 1.28% 62,500 $3.3M No change
DFEM Dimensional Emrg MRKT Core 1.14% 114,649 $2.9M Reduce -7.8%
SCHP Schwab U.S. Tips ETF 0.81% 39,664 $2.1M Add +4.1%
EMXC iShares MSCI Emr MRK Ex Chna 0.74% 33,000 $1.9M No change
STIP iShares 0-5 Year Tips Bond E 0.74% 18,946 $1.9M Reduce -8.2%
SCHF Schwab Intl Equity ETF 0.72% 46,863 $1.8M Add +1.8%
DFSD Dimensional Short Duration 0.61% 33,169 $1.6M Add +105.3%
VOO Vanguard S&P 500 ETF 0.57% 3,036 $1.5M No change
NOW ServiceNow Inc. 0.54% 1,811 $1.4M No change
SCHE Schwab Emrg Mrkts Eqty ETF 0.53% 54,000 $1.4M Add +2.7%
SCHA Schwab US Small-Cap ETF 0.51% 26,680 $1.3M Add +2.2%
AVDV Avantis Intl S/C Value ETF 0.47% 18,388 $1.2M No change
QQQ Invesco QQQ Trust Series 1 0.46% 2,668 $1.2M No change
SCHC Schwab Intl Small-Cap Equity 0.39% 27,651 $990K Reduce -0.3%
SPY SS SPDR S&P 500 ETF Trust-US 0.35% 1,723 $901K No change
LOW Lowe's Cos Inc. 0.32% 3,216 $819K No change
ACVA Acv Auctions Inc. Class A 0.31% 41,583 $781K No change
AVSU Avantis Resp US Equity ETF 0.27% 11,280 $693K Reduce -6.0%
ESGV Vanguard ESG US Stock ETF 0.27% 7,395 $689K Reduce -6.0%
DHS Wisdomtree US High Dividend 0.21% 6,062 $525K No change
BHRB Burke & Herbert Financial SE 0.21% 9,360 $524K No change
AAPL Apple Inc. 0.19% 2,782 $477K No change
VB Vanguard Most SM-Cap ETF-Usd 0.19% 2,074 $474K No change
VV Vngrd Mrgstr LRG-Cap ETF-Usd 0.18% 1,892 $454K No change
VEU Vanguard Ftse All-World Ex-U 0.17% 7,587 $445K No change
DFSI Dimensional Int Sus COR1 ETF 0.17% 13,100 $441K No change
PG The Procter & Gamble Co. 0.17% 2,633 $427K No change
DISV Dimensional International SM 0.16% 15,500 $421K No change
DFAI Dimensional International Co. 0.16% 13,890 $420K Add +2.0%
DFSU Dimensional US Sus CORE1 ETF 0.15% 10,800 $372K No change
R Ryder System Inc. 0.14% 3,027 $364K No change
JBGS JBG Smith Properties 0.13% 20,000 $321K Reduce -81.5%
VSGX Vanguard ESG Intl Stock ETF 0.12% 5,370 $309K No change
DTH Wisdomtree International Hig 0.11% 7,270 $288K No change
AVSD Avantis Reps Intern Equi ETF 0.11% 4,825 $275K No change
PLD Prologis Inc. 0.11% 2,100 $273K No change
VBR Vngrd Mrngst SL-CP Val ETF-U 0.10% 1,307 $251K No change
SHY iShares 1-3 Year Treasury Bo 0.09% 2,753 $225K No change
BAC Bank of America Corp. filed as BANK AMERICA CORP 0.09% 5,810 $220K New
HON Honeywell International Inc. 0.08% 1,044 $214K No change
DFAE Dimensional Emerging Core Eq 0.08% 8,235 $204K New
MA Mastercard Inc. Class A 0.08% 422 $203K New
DFSE Dimensional Em Sus CORE1 ETF 0.08% 6,300 $203K New
VXF Vanguard Extended Market ETF 0.08% 1,152 $202K New

Portfolio Sells Q4 2023 → Q1 2024
VNQ Vanguard Real Estate ETF Reduce -0.8% 18.17% −1.25
JBGS JBG Smith Properties Reduce -81.5% 0.13% −0.62
MUB iShares National Muni Bond E Reduce -1.8% 2.44% −0.16
DFIC Dimensional International Co. Reduce -4.3% 3.61% −0.13
DFEM Dimensional Emrg MRKT Core Reduce -7.8% 1.14% −0.12
SCHR Schwab Intermediate-Term US Reduce -2.3% 1.51% −0.12
STIP iShares 0-5 Year Tips Bond E Reduce -8.2% 0.74% −0.09
SCHC Schwab Intl Small-Cap Equity Reduce -0.3% 0.39% −0.01
AVSU Avantis Resp US Equity ETF Reduce -6.0% 0.27% −0.00
ESGV Vanguard ESG US Stock ETF Reduce -6.0% 0.27% −0.00
SCHB Schwab US Broad Market ETF Reduce -0.4% 4.43% +0.22
AVUS Avantis U.S. Equity ETF Reduce -0.6% 6.91% +0.34

Portfolio Buys Q4 2023 → Q1 2024
DFAC Dimensional US Core Equity 2 Add +3.6% 9.88% +0.82
DFSD Dimensional Short Duration Add +105.3% 0.61% +0.30
VTEB Vanguard Tax-Exempt Bond ETF Add +6.3% 13.46% +0.21
AVDE Avantis International Equity Add +2.5% 4.38% +0.18
VTIP Vanguard Short-Term Tips Add +13.1% 1.91% +0.17
BAC Bank of America Corp. New 0.09% +0.09
DFAE Dimensional Emerging Core Eq New 0.08% +0.08
MA Mastercard Inc. Class A New 0.08% +0.08
DFSE Dimensional Em Sus CORE1 ETF New 0.08% +0.08
VXF Vanguard Extended Market ETF New 0.08% +0.08
AVUV Avantis US Small Cap Value Add +2.0% 2.02% +0.05
SCHF Schwab Intl Equity ETF Add +1.8% 0.72% +0.02
SCHA Schwab US Small-Cap ETF Add +2.2% 0.51% +0.01
DFAT Dimensional US Target Value Add +0.1% 3.08% +0.01
DFAI Dimensional International Co. Add +2.0% 0.16% +0.01
SCHE Schwab Emrg Mrkts Eqty ETF Add +2.7% 0.53% +0.00
SCHP Schwab U.S. Tips ETF Add +4.1% 0.81% +0.00
AVEM Avantis Emerging Markets Eq Add +0.8% 2.69% −0.00
SCHH Schwab US REIT ETF Add +0.3% 1.40% −0.08
SCHO Schwab Short-Term US Treas Add +0.9% 9.73% −0.32

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 94$319.8MDFAC, VNQ, SCHO, AVUS, DFIC
Q1 2026 104$334.9MDFAC, VNQ, SCHO, DFIC, AVUS
Q4 2025 94$319.8MDFAC, VNQ, SCHO, AVUS, DFIC
Q3 2025 88$306.6MDFAC, VNQ, SCHO, AVUS, DFIC
Q2 2025 82$321.4MVNQ, DFAC, VTEB, SCHO, AVUS
Q1 2025 83$315.8MVNQ, DFAC, VTEB, SCHO, AVUS
Q4 2024 65$284.1MVNQ, DFAC, VTEB, SCHO, AVUS
Q3 2024 65$286.5MVNQ, VTEB, DFAC, SCHO, AVUS
Q2 2024 66$269.4MVNQ, VTEB, DFAC, SCHO, AVUS
Q1 2024 59$255.5MVNQ, VTEB, DFAC, SCHO, AVUS