Fulcrum Capital LLC

In its 13F for Q4 2024 (holdings as of December 31, 2024, filed January 13, 2025), Fulcrum Capital LLC reported 113 stock positions worth $477.6 million. Its top holding was Vngrd Mrngstr MD-Cap ETF-Usd (VO) at 10.0% of the portfolio, followed by Apple (AAPL, 8.4%) and Microsoft (MSFT, 6.5%). Compared with Q3 2024, it opened 7 new positions, sold out of 3, added to 41 and reduced 21. The biggest buy was Apple (AAPL, shares +45%) and the biggest sale D.R. Horton (DHI, shares −2%).

Most Recent 13F
Q2 2026
Location
SEATTLE, WA
CIK
0001724090
Portfolio Value
$477.6M (Q4 2024)
SEC Filing
0001724090-25-000001 ↗ filed Jan 13, 2025

Holdings Value

0$100.0M$200.0M$300.0M$400.0M$500.0M Q1 2024: $421.4M Q1 2024 Q2 2024: $439.2M Q2 2024 Q3 2024: $459.1M Q3 2024 Q4 2024: $477.6M $477.6M Q4 2024 Q1 2025: $451.1M Q1 2025 Q2 2025: $472.8M Q2 2025 Q3 2025: $487.7M Q3 2025 Q4 2025: $498.0M Q4 2025 Q1 2026: $460.6M Q1 2026 Q2 2026: $492.9M Q2 2026

Holdings 113 stocks · $477.6M
VO Vngrd Mrngstr MD-Cap ETF-Usd 9.96% 180,152 $47.6M Add +2.2%
AAPL Apple Inc. 8.39% 160,032 $40.1M Add +44.7%
MSFT Microsoft Corp. 6.49% 73,519 $31.0M Add +0.3%
NVDA Nvidia Corp. 4.84% 172,286 $23.1M Reduce -4.2%
AMZN Amazon.com Inc. 4.65% 101,212 $22.2M Add +1.1%
GOOGL Alphabet Inc. Class A 4.25% 107,158 $20.3M Add +0.3%
MA Mastercard Inc. Class A 3.27% 29,631 $15.6M Add +0.5%
TT Trane Technologies PLC 3.24% 41,883 $15.5M Reduce -1.7%
JPM JPMorgan Chase & Co. 2.54% 50,670 $12.1M Reduce -0.5%
FTNT Fortinet Inc. 2.49% 126,020 $11.9M Add +0.7%
UNH Unitedhealth Group Inc. 2.39% 22,561 $11.4M Add +16.5%
ADBE Adobe Inc. 2.37% 25,433 $11.3M Add +2.9%
SPGI S&P Global Inc. 2.21% 21,225 $10.6M Add +0.4%
NFLX Netflix Inc. 2.19% 11,725 $10.5M Reduce -2.5%
CME Cme Group Inc. 2.17% 44,717 $10.4M Add +0.9%
WM Waste Management Inc. 2.03% 48,103 $9.7M Add +0.9%
EW Edwards Lifesciences Corp. 1.89% 122,012 $9.0M Add +3.5%
IVV iShares Core S&P 500 ETF 1.77% 14,364 $8.5M Reduce -8.3%
ZTS Zoetis Inc. 1.73% 50,818 $8.3M Add +3.2%
INTU Intuit Inc. 1.70% 12,944 $8.1M Add +1.1%
ULTA Ulta Beauty Inc. 1.65% 18,150 $7.9M Add +2.5%
PEP Pepsico Inc. 1.61% 50,440 $7.7M Add +2.0%
HSY The Hershey Co. 1.40% 39,354 $6.7M Add +2.8%
XYL Xylem Inc. 1.38% 56,610 $6.6M Add +1.9%
EA Electronic Arts Inc. 1.36% 44,404 $6.5M Add +1.1%
VRTX Vertex Pharmaceuticals Inc. 1.31% 15,494 $6.2M Add +0.7%
FSLR First Solar Inc. 1.29% 34,879 $6.1M Add +1.1%
DHI D.R. Horton Inc. 1.25% 42,614 $6.0M Reduce -2.3%
LIN Linde PLC 1.23% 14,035 $5.9M Add +2.0%
EOG EOG Resources Inc. 1.15% 44,777 $5.5M Add +1.9%
ABT Abbott Laboratories 1.06% 44,659 $5.1M Add +2.4%
FANG Diamondback Energy Inc. 0.98% 28,558 $4.7M Add +1.2%
PYPL PayPal Holdings Inc. 0.95% 53,303 $4.5M Reduce -3.8%
XBI SS SPDR S&P Biotech ETF 0.94% 49,666 $4.5M Add +3.0%
VUG Vanguard Mrngstar GR ETF-Sui 0.89% 10,332 $4.2M Add +16.4%
JQUA JPMorgan US Quality Factor 0.86% 71,404 $4.1M Add +17.3%
WST West Pharmaceutical Services 0.58% 8,429 $2.8M Add +3.8%
AMGN Amgen Inc. 0.54% 9,945 $2.6M Reduce -0.4%
IWR iShares Russell Mid-Cap ETF 0.43% 23,209 $2.1M No change
ALGN Align Technology Inc. 0.40% 9,212 $1.9M Add +5.6%
V Visa Inc. Class A 0.38% 5,757 $1.8M Reduce -2.2%
COST Costco Wholesale Corp. 0.36% 1,858 $1.7M No change
GOOG Alphabet Inc. Class C 0.35% 8,799 $1.7M Reduce -1.7%
ECL Ecolab Inc. 0.33% 6,669 $1.6M Reduce -0.2%
VYM Vanguard High DVD Yield ETF 0.29% 10,765 $1.4M No change
BRK.B Berkshire Hathaway Inc. Class B 0.26% 2,770 $1.3M No change
VZ Verizon Communications Inc. 0.25% 30,112 $1.2M Reduce -0.4%
XLV SS Health Care Select Sector 0.25% 8,700 $1.2M No change
CVLC Calvert US L-C CR Resp Index 0.24% 15,718 $1.2M Add +1.5%
BCC Boise Cascade Co. 0.23% 9,187 $1.1M New
WELL Welltower Inc. 0.16% 6,126 $772K Reduce -3.8%
HD Home Depot Inc. 0.16% 1,980 $770K Reduce -5.3%
TMUS T-Mobile US Inc. 0.15% 3,330 $735K No change
SYK Stryker Corp. 0.14% 1,915 $689K Add +26.4%
SCHD Schwab US DVD Equity ETF 0.13% 22,995 $628K No change
AWK American Water Works Co. Inc. 0.13% 4,813 $599K Reduce -2.2%
JNJ Johnson & Johnson 0.12% 3,952 $572K Add +6.9%
AVGO Broadcom Inc. 0.12% 2,465 $571K Reduce -15.0%
ATO Atmos Energy Corp. 0.12% 4,100 $571K No change
MAR Marriott International Class A 0.12% 2,000 $558K No change
SPY SS SPDR S&P 500 ETF Trust-US 0.11% 930 $545K No change
QCOM Qualcomm Inc. 0.11% 3,420 $525K No change
DHR Danaher Corp. 0.11% 2,230 $512K No change
VDC Vanguard Consumer Staple ETF 0.11% 2,420 $512K No change
ESGD iShares Trust iShares ESG Aw 0.10% 6,482 $494K No change
NOW ServiceNow Inc. 0.10% 465 $493K No change
LAMR Lamar Advertising Co. Class A 0.10% 3,898 $475K No change
XOM Exxon Mobil Corp. 0.09% 4,203 $452K New
PH Parker Hannifin Corp. 0.09% 709 $451K No change
PG The Procter & Gamble Co. 0.09% 2,675 $448K Reduce -4.6%
AMT American Tower Corp. 0.09% 2,385 $437K No change
CRM Salesforce Inc. 0.09% 1,283 $429K Reduce -10.8%
PEG Public Service Enterprise GP 0.09% 4,809 $406K No change
KO The Coca-Cola Co. 0.08% 6,500 $405K No change
TTD Trade Desk Inc./the Class A filed as THE TRADE DESK INC 0.08% 3,400 $400K No change
AES AES Corp. 0.08% 31,032 $399K Reduce -0.2%
TMO Thermo Fisher Scientific Inc. 0.08% 760 $395K No change
ARES Ares Management Corp. Class A 0.08% 2,198 $389K No change
ALSN Allison Transmission Holding 0.08% 3,600 $389K No change
SPG Simon Property Group Inc. 0.08% 2,246 $387K New
ROP Roper Technologies Inc. 0.08% 738 $384K No change
DFAC Dimensional US Core Equity 2 0.08% 11,065 $383K No change
VTI VG Morningstar TS MKT ETF-US 0.08% 1,291 $374K Reduce -20.5%
ORI Old Republic Intl Corp. 0.08% 10,228 $370K No change
MS Morgan Stanley 0.08% 2,921 $367K No change
EPD Enterprise Products Partners 0.08% 11,703 $367K No change
ABBV Abbvie Inc. 0.07% 1,979 $352K No change
CMI Cummins Inc. 0.07% 1,002 $349K No change
PAYX Paychex Inc. 0.07% 2,428 $340K Add +8.1%
VPU Vanguard Utilities ETF 0.07% 2,050 $335K No change
WSM Williams-Sonoma Inc. 0.07% 1,800 $333K Reduce -51.6%
WSO Watsco Inc. 0.07% 671 $318K Add +8.4%
TXN Texas Instruments Inc. 0.07% 1,691 $317K Add +7.7%
UL Unilever PLC 0.07% 5,585 $317K Add +7.0%
IWB iShares Russell 1000 ETF 0.06% 957 $308K No change
SNA Snap-on Inc. 0.06% 893 $303K No change
OKE Oneok Inc. 0.06% 3,000 $301K No change
COP Conocophillips 0.06% 3,020 $299K No change
BDX Becton Dickinson and Co. 0.06% 1,275 $289K No change
PCAR Paccar Inc. 0.06% 2,765 $288K No change

Show all 113 holdings

Portfolio Sells Q3 2024 → Q4 2024
DHI D.R. Horton Inc. Reduce -2.3% 1.25% −0.56
HUM Humana Inc. Sold out 0.00% −0.47
TT Trane Technologies PLC Reduce -1.7% 3.24% −0.37
IVV iShares Core S&P 500 ETF Reduce -8.3% 1.77% −0.20
AMGN Amgen Inc. Reduce -0.4% 0.54% −0.16
TGT Target Corp. Sold out 0.00% −0.06
WSM Williams-Sonoma Inc. Reduce -51.6% 0.07% −0.06
AES AES Corp. Reduce -0.2% 0.08% −0.05
CMCSA Comcast Corp. Class A Sold out 0.00% −0.05
ECL Ecolab Inc. Reduce -0.2% 0.33% −0.04
VZ Verizon Communications Inc. Reduce -0.4% 0.25% −0.04
AWK American Water Works Co. Inc. Reduce -2.2% 0.13% −0.03
HD Home Depot Inc. Reduce -5.3% 0.16% −0.02
VTI VG Morningstar TS MKT ETF-US Reduce -20.5% 0.08% −0.02
WELL Welltower Inc. Reduce -3.8% 0.16% −0.02
PG The Procter & Gamble Co. Reduce -4.6% 0.09% −0.01
CRM Salesforce Inc. Reduce -10.8% 0.09% +0.00
AVGO Broadcom Inc. Reduce -15.0% 0.12% +0.01
PYPL PayPal Holdings Inc. Reduce -3.8% 0.95% +0.01
GOOG Alphabet Inc. Class C Reduce -1.7% 0.35% +0.02
V Visa Inc. Class A Reduce -2.2% 0.38% +0.03
NVDA Nvidia Corp. Reduce -4.2% 4.84% +0.09
JPM JPMorgan Chase & Co. Reduce -0.5% 2.54% +0.20
NFLX Netflix Inc. Reduce -2.5% 2.19% +0.33

Portfolio Buys Q3 2024 → Q4 2024
AAPL Apple Inc. Add +44.7% 8.39% +2.78
AMZN Amazon.com Inc. Add +1.1% 4.65% +0.58
GOOGL Alphabet Inc. Class A Add +0.3% 4.25% +0.39
FTNT Fortinet Inc. Add +0.7% 2.49% +0.38
BCC Boise Cascade Co. New 0.23% +0.23
EW Edwards Lifesciences Corp. Add +3.5% 1.89% +0.20
ULTA Ulta Beauty Inc. Add +2.5% 1.65% +0.15
VUG Vanguard Mrngstar GR ETF-Sui Add +16.4% 0.89% +0.15
JQUA JPMorgan US Quality Factor Add +17.3% 0.86% +0.11
MA Mastercard Inc. Class A Add +0.5% 3.27% +0.09
XOM Exxon Mobil Corp. New 0.09% +0.09
SPG Simon Property Group Inc. New 0.08% +0.08
GS Goldman Sachs Group Inc. New 0.06% +0.06
IWF iShares Russell 1000 Growth New 0.05% +0.05
WCC Wesco International Inc. New 0.05% +0.05
WST West Pharmaceutical Services Add +3.8% 0.58% +0.05
PAYC Paycom Software Inc. New 0.05% +0.05
CME Cme Group Inc. Add +0.9% 2.17% +0.04
SYK Stryker Corp. Add +26.4% 0.14% +0.03
PAYX Paychex Inc. Add +8.1% 0.07% +0.01
WSO Watsco Inc. Add +8.4% 0.07% +0.00
CVLC Calvert US L-C CR Resp Index Add +1.5% 0.24% −0.00
KDP Keurig Dr Pepper Inc. Add +16.6% 0.05% −0.00
TXN Texas Instruments Inc. Add +7.7% 0.07% −0.00
EXR Extra Space Storage Inc. Add +11.6% 0.05% −0.01
UL Unilever PLC Add +7.0% 0.07% −0.01
MPT Medical Properties Trust Inc. Add +8.3% 0.02% −0.01
JNJ Johnson & Johnson Add +6.9% 0.12% −0.01
EA Electronic Arts Inc. Add +1.1% 1.36% −0.01
ABT Abbott Laboratories Add +2.4% 1.06% −0.03
EOG EOG Resources Inc. Add +1.9% 1.15% −0.03
INTU Intuit Inc. Add +1.1% 1.70% −0.03
UNH Unitedhealth Group Inc. Add +16.5% 2.39% −0.08
FANG Diamondback Energy Inc. Add +1.2% 0.98% −0.08
ALGN Align Technology Inc. Add +5.6% 0.40% −0.08
XBI SS SPDR S&P Biotech ETF Add +3.0% 0.94% −0.10
WM Waste Management Inc. Add +0.9% 2.03% −0.12
SPGI S&P Global Inc. Add +0.4% 2.21% −0.17
VO Vngrd Mrngstr MD-Cap ETF-Usd Add +2.2% 9.96% −0.17
LIN Linde PLC Add +2.0% 1.23% −0.20
HSY The Hershey Co. Add +2.8% 1.40% −0.20
PEP Pepsico Inc. Add +2.0% 1.61% −0.23
VRTX Vertex Pharmaceuticals Inc. Add +0.7% 1.31% −0.25
XYL Xylem Inc. Add +1.9% 1.38% −0.26
ZTS Zoetis Inc. Add +3.2% 1.73% −0.36
MSFT Microsoft Corp. Add +0.3% 6.49% −0.38
ADBE Adobe Inc. Add +2.9% 2.37% −0.42
FSLR First Solar Inc. Add +1.1% 1.29% −0.59

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 103$492.9MVO, LRCX, MSFT, AAPL, GOOGL
Q1 2026 101$460.6MVO, MSFT, AAPL, GOOGL, AMZN
Q4 2025 99$498.0MVO, MSFT, GOOGL, AAPL, AMZN
Q3 2025 100$487.7MMSFT, VO, AAPL, GOOGL, NVDA
Q2 2025 99$472.8MMSFT, VO, AMZN, NVDA, AAPL
Q1 2025 106$451.1MVO, AAPL, MSFT, AMZN, NVDA
Q4 2024 113$477.6MVO, AAPL, MSFT, NVDA, AMZN
Q3 2024 109$459.1MVO, MSFT, AAPL, NVDA, AMZN
Q2 2024 108$439.2MVO, MSFT, AAPL, NVDA, GOOG
Q1 2024 116$421.4MVO, MSFT, AAPL, NVDA, GOOGL