The primary objective of this observational study was to examine the association between passive transfer of immunity and growth performance in preweaning calves. A secondary objective was to evaluate the utility of a heart girth tape (HGT) to estimate body weight (BW) in preweaning calves. A total of 142 Holstein calves were enrolled in this study. Blood samples were collected 24 to 48 hours after birth and serum immunoglobulin G (IgG) concentration for each calf was measured by radial immunodiffusion assay. Calf BW was determined at birth, at 21 days, and at weaning using an electronic scale (ES) and HGT. A significant positive association was detected between serum IgG and both BW at 21 days and average daily gain (ADG) from 0 to 21 days of life. Additionally, ADG from 0 to 42 days of life showed a trend toward an improved rate of gain as IgG concentration increased. The Pearson correlation coefficient between BW obtained from ES and HGT was 0.81 at birth, 0.86 at 21 days, and 0.83 at weaning. The mean differences between BW obtained from ES and HGT were −3.1 kg at birth, −3.2 kg at 21 days, and −7.7 kg at weaning. In conclusion, serum IgG concentration in neonatal calves is an important contributing factor for the variation in growth performance of preweaning calves. The HGT can be used to estimate the BW of preweaning calves but has a tendency to overestimate weight, especially at weaning compared to birth and 21 days of age.