# EDGAR Filing Document

**Accession Number:** 0001624510
**File Stem:** 0001624510-25-000006
**Filing Date:** 2025-7
**Character Count:** 7912
**Document Hash:** d95feab79156c104f3fb21a93d0aead9
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001624510-25-000006.hdr.sgml**: 20250718

**ACCESSION NUMBER**: 0001624510-25-000006

**CONFORMED SUBMISSION TYPE**: 13F-HR

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250630

**FILED AS OF DATE**: 20250718

**DATE AS OF CHANGE**: 20250717

**EFFECTIVENESS DATE**: 20250718

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** FINANCIAL CONSULATE, INC
- **CENTRAL INDEX KEY:** 0001624510

**ORGANIZATION NAME:**
- **EIN:** 521281169
- **STATE OF INCORPORATION:** MD
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 13F-HR
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-16386
- **FILM NUMBER:** 251131893

**BUSINESS ADDRESS:**
- **STREET 1:** 11019 MCCORMICK ROAD
- **STREET 2:** SUITE 200
- **CITY:** HUNT VALLEY
- **STATE:** MD
- **ZIP:** 21031
- **BUSINESS PHONE:** (410) 823-7283

**MAIL ADDRESS:**
- **STREET 1:** 11019 MCCORMICK ROAD
- **STREET 2:** SUITE 200
- **CITY:** HUNT VALLEY
- **STATE:** MD
- **ZIP:** 21031

### FORM 13F COVER PAGE

**Report for the Calendar Year or Quarter Ended:** 06-30-2025

**Check here if Amendment** [ ] **Amendment Number:** 

**This Amendment (Check only one.):** [ ] is a restatement.

[ ] adds new holdings entries.

**Institutional Investment Manager Filing this Report:**

**Name:** FINANCIAL CONSULATE INC<br>**Address:** 11019 MCCORMICK ROAD<br>SUITE 200<br>HUNT VALLEY, MD 21031

**Form 13F File Number:** 028-16386

**CRD Number (if applicable):** 000106898

**SEC File Number (if applicable):** 801-18829

The institutional investment manager filing this report and the person by whom it is signed hereby represent that the person signing the report is authorized to submit it, that all information contained herein is true, correct and complete, and that it is understood that all required items, statements, schedules, lists, and tables, are considered integral parts of this form.

**Person Signing this Report on Behalf of Reporting Manager:**

**Name:** Michael McCarthy<br>**Title:** CEO President and CCO<br>**Phone:** 410-823-7283

**Signature, Place, and Date of Signing:**

Michael McCarthy  Hunt Valley, MD  07-17-2025<br>[Signature]  [City, State]  [Date]

**Report Type (Check only one.):**

[x] **13F HOLDINGS REPORT.** (Check here if all holdings of this reporting manager are reported in this report.)

[ ] **13F NOTICE.** (Check here if no holdings are reported in this report, and all holdings are reported by other reporting manager(s).)

[ ] **13F COMBINATION REPORT.** (Check here if a portion of the holdings for this reporting manager are reported in this report and a portion are reported by other reporting manager(s).)

### Form 13F Summary Page

**Report Summary:**

**Number of Other Included Managers:** 0

**Form 13F Information Table Entry Total:** 37

**Form 13F Information Table Value Total:** $506509859

      (round to nearest dollar)

**List of Other Included Managers:**

Provide a numbered list of the name(s) and Form 13F file number(s) of all institutional investment managers with respect to which this report is filed, other than the manager filing this report.

[If there are no entries in this list, state “NONE” and omit the column headings and list entries.]

**NONE**

### FORM 13F INFORMATION TABLE

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|  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | FIGI | VALUE (x$1000) | SHRS OR PRN AMT | SH/PRN | PUT/CALL | INVESTMENT DISCRETION | OTHER MANAGER | VOTING AUTHORITY | VOTING AUTHORITY | VOTING AUTHORITY |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | FIGI | VALUE (x$1000) | SHRS OR PRN AMT | SH/PRN | PUT/CALL | INVESTMENT DISCRETION | OTHER MANAGER | SOLE | SHARED | NONE |
| 180 DEGREE CAP CORP | COM NEW | 68235B208 |  | 1460227 | 367482 | SH |  | SOLE |  | 346136 | 0 | 21346 |
| ALPHABET INC | CAP STK CL A | 02079K305 |  | 978533 | 5553 | SH |  | SOLE |  | 3781 | 0 | 1772 |
| BERKSHIRE HATHAWAY INC DEL | CL B NEW | 084670702 |  | 1062622 | 2188 | SH |  | SOLE |  | 947 | 0 | 1241 |
| BLACKSTONE MORTGAGE TRUST IN | NOTE 5.500pcnt 3/1 | 09257WAE0 |  | 961043 | 973000 | SH |  | SOLE |  | 676000 | 0 | 297000 |
| DIMENSIONAL ETF TRUST | US HIGH PROFITAB | 25434V831 |  | 66647790 | 1874235 | SH |  | SOLE |  | 1557330 | 0 | 316905 |
| DIMENSIONAL ETF TRUST | US SMALL CAP ETF | 25434V500 |  | 25335272 | 397666 | SH |  | SOLE |  | 298592 | 0 | 99074 |
| DIMENSIONAL ETF TRUST | INTL HIGH PROFIT | 25434V765 |  | 24553900 | 832618 | SH |  | SOLE |  | 672214 | 0 | 160404 |
| DIMENSIONAL ETF TRUST | US TARGETED VLU | 25434V609 |  | 3470546 | 64317 | SH |  | SOLE |  | 53325 | 0 | 10992 |
| FRANKLIN TEMPLETON ETF TR | US MID CP MLTFCT | 35473P884 |  | 19527840 | 359563 | SH |  | SOLE |  | 236101 | 0 | 123462 |
| ISHARES TR | CORE S ETF | 464287200 |  | 2400821 | 3867 | SH |  | SOLE |  | 2808 | 0 | 1059 |
| ISHARES TR | CORE S TTL STK | 464287150 |  | 1218060 | 9020 | SH |  | SOLE |  | 8852 | 0 | 168 |
| ISHARES TR | CORE US AGGBD ET | 464287226 |  | 516138 | 5203 | SH |  | SOLE |  | 5203 | 0 | 0 |
| ISHARES TR | RUS 1000 GRW ETF | 464287614 |  | 454301 | 1070 | SH |  | SOLE |  | 530 | 0 | 540 |
| PENNYMAC CORP | NOTE 5.500pcnt 3/1 | 70932AAF0 |  | 965852 | 961000 | SH |  | SOLE |  | 664000 | 0 | 297000 |
| PGIM ETF TR | PGIM ULTRA SH BD | 69344A107 |  | 5923033 | 119032 | SH |  | SOLE |  | 93170 | 0 | 25862 |
| PIMCO EQUITY SER | RAFI DYN MULTI | 72202L371 |  | 58496344 | 1627837 | SH |  | SOLE |  | 1141971 | 0 | 485866 |
| PIMCO EQUITY SER | RAFI DYN ML US | 72202L363 |  | 3396053 | 63537 | SH |  | SOLE |  | 46269 | 0 | 17268 |
| SCHWAB STRATEGIC TR | US LRG CAP ETF | 808524201 |  | 114944786 | 4703142 | SH |  | SOLE |  | 3290672 | 0 | 1412470 |
| SCHWAB STRATEGIC TR | INTL EQTY ETF | 808524805 |  | 40440882 | 1829904 | SH |  | SOLE |  | 1512565 | 0 | 317339 |
| SCHWAB STRATEGIC TR | FUNDAMENTAL US B | 808524789 |  | 34119349 | 1422825 | SH |  | SOLE |  | 1194641 | 0 | 228184 |
| SCHWAB STRATEGIC TR | US DIVIDEND EQ | 808524797 |  | 21186010 | 799472 | SH |  | SOLE |  | 655378 | 0 | 144094 |
| SCHWAB STRATEGIC TR | FUNDAMENTAL INTL | 808524755 |  | 7517150 | 187835 | SH |  | SOLE |  | 152850 | 0 | 34985 |
| SCHWAB STRATEGIC TR | US BRD MKT ETF | 808524102 |  | 2796062 | 117334 | SH |  | SOLE |  | 109187 | 0 | 8147 |
| SCHWAB STRATEGIC TR | INT-TRM U.S TRES | 808524854 |  | 2200763 | 87925 | SH |  | SOLE |  | 74696 | 0 | 13229 |
| SCHWAB STRATEGIC TR | US LCAP GR ETF | 808524300 |  | 1700642 | 58221 | SH |  | SOLE |  | 19211 | 0 | 39010 |
| SCHWAB STRATEGIC TR | US AGGREGATE B | 808524839 |  | 445558 | 19172 | SH |  | SOLE |  | 19164 | 0 | 8 |
| SELECT SECTOR SPDR TR | SBI CONS DISCR | 81369Y407 |  | 489420 | 2252 | SH |  | SOLE |  | 2252 | 0 | 0 |
| SPDR INDEX SHS FDS | ASIA PACIF ETF | 78463X301 |  | 11463548 | 90694 | SH |  | SOLE |  | 59973 | 0 | 30721 |
| SPDR INDEX SHS FDS | PORTFLI MSCI GBL | 78463X475 |  | 2841131 | 41176 | SH |  | SOLE |  | 31502 | 0 | 9674 |
| SPDR INDEX SHS FDS | MSCI ACWI EXUS | 78463X848 |  | 985380 | 30171 | SH |  | SOLE |  | 26263 | 0 | 3908 |
| T ROWE PRICE ETF INC | CAP APPRECIATION | 87283Q867 |  | 18160771 | 514761 | SH |  | SOLE |  | 440586 | 0 | 74175 |
| VANGUARD CHARLOTTE FDS | TOTAL INT BD ETF | 92203J407 |  | 521143 | 10526 | SH |  | SOLE |  | 10526 | 0 | 0 |
| VANGUARD INDEX FDS | S 500 ETF SHS | 922908363 |  | 3360209 | 5916 | SH |  | SOLE |  | 1827 | 0 | 4089 |
| VANGUARD INDEX FDS | TOTAL STK MKT | 922908769 |  | 605090 | 1991 | SH |  | SOLE |  | 123 | 0 | 1868 |
| VANGUARD MALVERN FDS | STRM INFPROIDX | 922020805 |  | 23547850 | 468427 | SH |  | SOLE |  | 343009 | 0 | 125418 |
| VANGUARD WORLD FD | INF TECH ETF | 92204A702 |  | 1325897 | 1999 | SH |  | SOLE |  | 1982 | 0 | 17 |
| VANGUARD WORLD FD | INDUSTRIAL ETF | 92204A603 |  | 489843 | 1749 | SH |  | SOLE |  | 1634 | 0 | 115 |

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