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Livermore
Livermore
ZHEN

Passive Capital Management, LLC.

SEC CIK
0001958250
Latest filing
Aug 10, 2026

The latest 13F from Passive Capital Management, LLC. covers Q2 2026 (filed Aug 10, 2026): 94 long positions worth $319.6M. The top 10 holdings make up 70.8% of the portfolio, and the largest is Dimensional U.S. Core Equity 2 ETF at 16.7%. Livermore has 19 filings on Form 13F from this institution, going back to Q4 2021.

What changed in Q2 2026

Share counts compared with Q1 2026: how many positions were new, added to, reduced or sold out, and the biggest buys and sells. Dollar amounts are estimated at the quarter-end prices implied by the filing.

Full comparison
New
5
Est. +$2.72M
Added
18
Est. +$1.03M
Reduced
42
Est. −$29.6M
Sold out
15
Est. −$4.90M

Top 5 holdings

Share of this quarter's portfolio value

  1. Dimensional U.S. Core Equity 2 ETF25434V708
    16.7%$53.4M
  2. Vanguard Real Estate ETF922908553
    12.0%$38.4M
  3. Schwab Strategic Tr808524862
    8.9%$28.4M
  4. American Centy ETF Tr025072885
    6.6%$21.0M
  5. Dimensional ETF Trust25434V799
    6.0%$19.3M

Biggest buys

New and added positions, by estimated amount bought

  1. American Centy ETF Tr025072281
    +$1.03MNew
  2. T. Rowe Price Tax-Efficient Equity I779918408
    +$754.9KNew
  3. BHRBBurke & Herbert Financial Services Corp.
    +$543.0KNewHistory
  4. Vanguard Malvern FDS922020805
    +$434.7KAdded
  5. American Centy ETF Tr025072299
    +$385.4KNew

Largest weight increases

New and added positions, by percentage points of the portfolio gained

  1. American Centy ETF Tr025072885
    +0.35 pp6.2% → 6.6%
  2. American Centy ETF Tr025072281
    +0.32 pp0.0% → 0.3%
  3. T. Rowe Price Tax-Efficient Equity I779918408
    +0.24 pp0.0% → 0.2%
  4. Vanguard Malvern FDS922020805
    +0.18 pp1.0% → 1.2%
  5. BHRBBurke & Herbert Financial Services Corp.
    +0.17 pp0.0% → 0.2%History

Biggest sells

Reduced and sold-out positions, by estimated amount sold

  1. Vanguard Morningstar Growth ETF922908736
    −$7.57MReducedConverted for a 6-for-1 split
  2. Vanguard Information Technology ETF92204A702
    −$6.75MReducedConverted for a 8-for-1 split
  3. JBGSJBG Smith Properties
    −$3.40MReducedHistory
  4. Dimensional U.S. Core Equity 2 ETF25434V708
    −$2.79MReduced
  5. Schwab Strategic Tr808524862
    −$1.66MReduced

Largest weight decreases

Reduced and sold-out positions, by percentage points of the portfolio lost

  1. JBGSJBG Smith Properties
    −0.85 pp1.0% → 0.1%History
  2. Dimensional ETF Trust25434V799
    −0.41 pp6.4% → 6.0%
  3. AUBAtlantic Union Bankshares Corp
    −0.31 pp0.3% → 0.0%History
  4. Dimensional ETF Trust25434V864
    −0.26 pp3.7% → 3.5%
  5. American Centy ETF Tr025072877
    −0.17 pp1.5% → 1.3%

Metrics

13F metrics for Q2 2026, computed only from the numbers in the filings. Definitions below.

Portfolio value
$319.6M
−$15.3M (−4.6%) vs. prior quarter
Positions
94
−10 vs. prior quarter
Top 10 concentration
70.8%
Top 10 as share of value
Turnover
1.1%
Q2 2026, one quarter
Average holding period
16.9 quarters
Weighted by value

How these are calculated

  • Portfolio value: the market value of all long positions in the 13F, as reported at quarter end, excluding options.
  • Top 10 concentration: the combined value of the 10 largest positions as a share of portfolio value.
  • Turnover: the smaller of this quarter's estimated purchases and estimated sales, divided by the average of this and last quarter's portfolio value. Estimates multiply the change in shares by the quarter-end price implied by the filing (market value divided by shares); new positions use this quarter's value and sold-out positions last quarter's. Only positions reported in shares count, and it is not calculated when the previous quarter was not filed.
  • Average holding period: how many consecutive quarters each current position has been held (including this one; a quarter without the position or without a filing starts the count over), weighted by this quarter's value. Counting starts with the first 13F in Livermore (Q4 2021), so positions held before then are understated.

13F filings by quarter

19 quarters, going back to Q4 2021. Bars show each quarter's 13F portfolio value; quarters without a filing are left blank.

Peak $334.9M (Q1 2026)

Q4 2021: $176.5MQ1 2022: $186.6MQ2 2022: $196.4MQ3 2022: $189.2MQ4 2022: $219.8MQ1 2023: $229.2MQ2 2023: $235.5MQ3 2023: $223.6MQ4 2023: $246.2MQ1 2024: $255.5MQ2 2024: $269.4MQ3 2024: $286.5MQ4 2024: $284.1MQ1 2025: $315.8MQ2 2025: $321.4MQ3 2025: $306.6MQ4 2025: $319.8MQ1 2026: $334.9MQ2 2026: $319.6M
Q4 2021Q2 2026
13F filings of Passive Capital Management, LLC. by quarter
QuarterFiledPositionsValueTop 3 holdingsChangesFiling
Q2 2026Aug 10, 202694$319.6MDimensional U.S. Core Equity 2 ETFVanguard Real Estate ETFSchwab Strategic Trvs. Q1 2026SEC
Q1 2026May 14, 2026104$334.9MDimensional U.S. Core Equity 2 ETFVanguard Real Estate ETFSchwab Strategic Trvs. Q4 2025SEC
Q4 2025Feb 5, 202694$319.8MDimensional U.S. Core Equity 2 ETFVanguard Real Estate ETFSchwab Strategic Trvs. Q3 2025SEC
Q3 2025Nov 12, 202588$306.6MDimensional U.S. Core Equity 2 ETFVanguard Real Estate ETFSchwab Strategic Trvs. Q2 2025SEC
Q2 2025Aug 12, 202582$321.4MVanguard Real Estate ETFDimensional U.S. Core Equity 2 ETFVanguard Mun BD FDSvs. Q1 2025SEC
Q1 2025May 7, 202583$315.8MVanguard Real Estate ETFDimensional U.S. Core Equity 2 ETFVanguard Mun BD FDSvs. Q4 2024SEC
Q4 2024Feb 5, 202565$284.1MVanguard Real Estate ETFDimensional U.S. Core Equity 2 ETFVanguard Mun BD FDSvs. Q3 2024SEC
Q3 2024Nov 15, 202465$286.5MVanguard Real Estate ETFVanguard Mun BD FDSDimensional U.S. Core Equity 2 ETFvs. Q2 2024SEC
Q2 2024Sep 25, 202466$269.4MVanguard Real Estate ETFVanguard Mun BD FDSDimensional U.S. Core Equity 2 ETFvs. Q1 2024SEC
Q1 2024Sep 25, 202459$255.5MVanguard Real Estate ETFVanguard Mun BD FDSDimensional U.S. Core Equity 2 ETFvs. Q4 2023SEC
Q4 2023Sep 25, 202454$246.2MVanguard Real Estate ETFVanguard Mun BD FDSSchwab Strategic Trvs. Q3 2023SEC
Q3 2023Sep 25, 202454$223.6MVanguard Real Estate ETFVanguard Mun BD FDSSchwab Strategic Trvs. Q2 2023SEC
Q2 2023Sep 25, 202452$235.5MVanguard Real Estate ETFVanguard Mun BD FDSSchwab Strategic Trvs. Q1 2023SEC
Q1 2023Jul 28, 202352$229.2MVanguard Real Estate ETFVanguard Mun BD FDSSchwab Strategic Trvs. Q4 2022SEC
Q4 2022Jul 28, 202353$219.8MVanguard Real Estate ETFVanguard Mun BD FDSSchwab Strategic Trvs. Q3 2022SEC
Q3 2022Jul 28, 202347$189.2MVanguard Real Estate ETFVanguard Mun BD FDSSchwab Strategic Trvs. Q2 2022SEC
Q2 2022Jul 28, 202349$196.4MVanguard Real Estate ETFVanguard Mun BD FDSSchwab Strategic Trvs. Q1 2022SEC
Q1 2022Jul 28, 202347$186.6MVanguard Real Estate ETFVanguard Mun BD FDSSchwab Strategic Trvs. Q4 2021SEC
Q4 2021Jul 28, 202348$176.5MVanguard Real Estate ETFVanguard Mun BD FDSSchwab Strategic Tr–SEC