Fulcrum Capital LLC
In its 13F for Q1 2025 (holdings as of March 31, 2025, filed April 8, 2025), Fulcrum Capital LLC reported 106 stock positions worth $451.1 million. Its top holding was Vngrd Mrngstr MD-Cap ETF-Usd (VO) at 10.3% of the portfolio, followed by Apple (AAPL, 7.4%) and Microsoft (MSFT, 6.5%). Compared with Q4 2024, it opened 10 new positions, sold out of 17, added to 50 and reduced 24. The biggest buy was Alphabet Class C (GOOG, shares +1185%) and the biggest sale an exit from Alphabet Class A (GOOGL).
- Most Recent 13F
- Q2 2026
- Location
- SEATTLE, WA
- CIK
- 0001724090
- Portfolio Value
- $451.1M (Q1 2025)
- SEC Filing
- 0001724090-25-000004 ↗ filed Apr 8, 2025
Holdings Value
Holdings 106 stocks · $451.1M
| VO Vngrd Mrngstr MD-Cap ETF-Usd | 10.34% | 180,400 | $46.7M | Add +0.1% |
| AAPL Apple Inc. | 7.36% | 149,509 | $33.2M | Reduce -6.6% |
| MSFT Microsoft Corp. | 6.55% | 78,705 | $29.5M | Add +7.0% |
| AMZN Amazon.com Inc. | 4.33% | 102,623 | $19.5M | Add +1.4% |
| NVDA Nvidia Corp. | 4.20% | 174,824 | $18.9M | Add +1.5% |
| GOOG Alphabet Inc. Class C | 3.88% | 113,031 | $17.5M | Add +1184.6% |
| MA Mastercard Inc. Class A | 3.28% | 26,974 | $14.8M | Reduce -9.0% |
| TT Trane Technologies PLC | 3.14% | 42,046 | $14.2M | Add +0.4% |
| UNH Unitedhealth Group Inc. | 2.79% | 24,013 | $12.6M | Add +6.4% |
| FTNT Fortinet Inc. | 2.74% | 128,494 | $12.4M | Add +2.0% |
| JPM JPMorgan Chase & Co. | 2.64% | 48,561 | $11.9M | Reduce -4.2% |
| CME Cme Group Inc. | 2.55% | 43,392 | $11.5M | Reduce -3.0% |
| WM Waste Management Inc. | 2.45% | 47,767 | $11.1M | Reduce -0.7% |
| SPGI S&P Global Inc. | 2.36% | 20,946 | $10.6M | Reduce -1.3% |
| NFLX Netflix Inc. | 2.35% | 11,374 | $10.6M | Reduce -3.0% |
| ADBE Adobe Inc. | 2.19% | 25,782 | $9.9M | Add +1.4% |
| EW Edwards Lifesciences Corp. | 2.03% | 126,267 | $9.2M | Add +3.5% |
| ZTS Zoetis Inc. | 1.92% | 52,546 | $8.7M | Add +3.4% |
| PEP Pepsico Inc. | 1.68% | 50,528 | $7.6M | Add +0.2% |
| VRTX Vertex Pharmaceuticals Inc. | 1.67% | 15,578 | $7.6M | Add +0.5% |
| INTU Intuit Inc. | 1.66% | 12,192 | $7.5M | Reduce -5.8% |
| XYL Xylem Inc. | 1.53% | 57,905 | $6.9M | Add +2.3% |
| ULTA Ulta Beauty Inc. | 1.48% | 18,217 | $6.7M | Add +0.4% |
| LIN Linde PLC | 1.47% | 14,249 | $6.6M | Add +1.5% |
| EA Electronic Arts Inc. | 1.47% | 45,756 | $6.6M | Add +3.0% |
| ABT Abbott Laboratories | 1.35% | 45,748 | $6.1M | Add +2.4% |
| IVV iShares Core S&P 500 ETF | 1.33% | 10,655 | $6.0M | Reduce -25.8% |
| EOG EOG Resources Inc. | 1.28% | 44,895 | $5.8M | Add +0.3% |
| DHI D.R. Horton Inc. | 1.24% | 43,894 | $5.6M | Add +3.0% |
| LRCX Lam Research Corp. | 1.19% | 74,088 | $5.4M | New |
| FANG Diamondback Energy Inc. | 1.08% | 30,402 | $4.9M | Add +6.5% |
| FSLR First Solar Inc. | 1.02% | 36,317 | $4.6M | Add +4.1% |
| XBI SS SPDR S&P Biotech ETF | 0.93% | 51,838 | $4.2M | Add +4.4% |
| JQUA JPMorgan US Quality Factor | 0.92% | 73,721 | $4.2M | Add +3.2% |
| VUG Vanguard Mrngstar GR ETF-Sui | 0.87% | 10,626 | $3.9M | Add +2.9% |
| PYPL PayPal Holdings Inc. | 0.76% | 52,371 | $3.4M | Reduce -1.8% |
| AMGN Amgen Inc. | 0.70% | 10,135 | $3.2M | Add +1.9% |
| DXCM Dexcom Inc. | 0.52% | 34,072 | $2.3M | New |
| IWR iShares Russell Mid-Cap ETF | 0.40% | 21,301 | $1.8M | Reduce -8.2% |
| V Visa Inc. Class A | 0.37% | 4,756 | $1.7M | Reduce -17.4% |
| SPYM Ste STR SPDR PT S&P 500 ETF | 0.37% | 25,338 | $1.7M | New |
| ECL Ecolab Inc. | 0.36% | 6,472 | $1.6M | Reduce -3.0% |
| BRK.B Berkshire Hathaway Inc. Class B | 0.36% | 3,009 | $1.6M | Add +8.6% |
| CVLC Calvert US L-C CR Resp Index | 0.34% | 22,548 | $1.6M | Add +43.5% |
| ALGN Align Technology Inc. | 0.33% | 9,282 | $1.5M | Add +0.8% |
| COST Costco Wholesale Corp. | 0.32% | 1,518 | $1.4M | Reduce -18.3% |
| VYM Vanguard High DVD Yield ETF | 0.31% | 10,765 | $1.4M | No change |
| VZ Verizon Communications Inc. | 0.30% | 30,130 | $1.4M | Add +0.1% |
| XLV SS Health Care Select Sector | 0.28% | 8,700 | $1.3M | No change |
| WELL Welltower Inc. | 0.20% | 5,957 | $913K | Reduce -2.8% |
| JNJ Johnson & Johnson | 0.18% | 4,981 | $826K | Add +26.0% |
| AWK American Water Works Co. Inc. | 0.15% | 4,695 | $693K | Reduce -2.5% |
| SCHD Schwab US DVD Equity ETF | 0.14% | 22,885 | $640K | Reduce -0.5% |
| IEFA iShares Core MSCI Eafe ETF | 0.14% | 8,381 | $634K | New |
| ATO Atmos Energy Corp. | 0.14% | 4,100 | $634K | No change |
| SBUX Starbucks Corp. | 0.13% | 6,022 | $591K | New |
| KO The Coca-Cola Co. | 0.12% | 7,839 | $561K | Add +20.6% |
| ABBV Abbvie Inc. | 0.12% | 2,566 | $538K | Add +29.7% |
| SPY SS SPDR S&P 500 ETF Trust-US | 0.12% | 957 | $535K | Add +2.9% |
| PG The Procter & Gamble Co. | 0.12% | 3,123 | $532K | Add +16.8% |
| VDC Vanguard Consumer Staple ETF | 0.12% | 2,420 | $530K | No change |
| MAR Marriott International Class A | 0.11% | 2,040 | $486K | Add +2.0% |
| ESGD iShares Trust iShares ESG Aw | 0.11% | 5,922 | $484K | Reduce -8.6% |
| BCC Boise Cascade Co. | 0.11% | 4,907 | $481K | Reduce -46.6% |
| AVGO Broadcom Inc. | 0.10% | 2,725 | $456K | Add +10.6% |
| LAMR Lamar Advertising Co. Class A | 0.10% | 3,970 | $452K | Add +1.9% |
| SPG Simon Property Group Inc. | 0.10% | 2,607 | $433K | Add +16.1% |
| XOM Exxon Mobil Corp. | 0.09% | 3,378 | $402K | Reduce -19.6% |
| ORI Old Republic Intl Corp. | 0.09% | 10,228 | $401K | No change |
| EPD Enterprise Products Partners | 0.09% | 11,703 | $400K | No change |
| PEG Public Service Enterprise GP | 0.09% | 4,809 | $396K | No change |
| AES AES Corp. | 0.08% | 30,690 | $381K | Reduce -1.1% |
| PAYX Paychex Inc. | 0.08% | 2,428 | $375K | No change |
| UL Unilever PLC | 0.08% | 6,258 | $373K | Add +12.1% |
| DRI Darden Restaurants Inc. | 0.08% | 1,789 | $372K | Add +21.3% |
| DFAC Dimensional US Core Equity 2 | 0.08% | 11,065 | $365K | No change |
| COP Conocophillips | 0.08% | 3,442 | $361K | Add +14.0% |
| MS Morgan Stanley | 0.08% | 3,066 | $358K | Add +5.0% |
| VTI VG Morningstar TS MKT ETF-US | 0.08% | 1,291 | $355K | No change |
| VPU Vanguard Utilities ETF | 0.08% | 2,050 | $350K | No change |
| IEMG iShares Core MSCI Emerging | 0.08% | 6,469 | $349K | New |
| ALSN Allison Transmission Holding | 0.08% | 3,600 | $344K | No change |
| WSO Watsco Inc. | 0.08% | 671 | $341K | No change |
| QCOM Qualcomm Inc. | 0.08% | 2,219 | $341K | Reduce -35.1% |
| META Meta Platforms Inc. Class A | 0.07% | 569 | $328K | New |
| CMI Cummins Inc. | 0.07% | 1,034 | $324K | Add +3.2% |
| ARES Ares Management Corp. Class A | 0.07% | 2,198 | $322K | No change |
| HD Home Depot Inc. | 0.07% | 879 | $322K | Reduce -55.6% |
| WSM Williams-Sonoma Inc. | 0.07% | 2,010 | $318K | Add +11.7% |
| TXN Texas Instruments Inc. | 0.07% | 1,691 | $304K | No change |
| SNA Snap-on Inc. | 0.07% | 893 | $301K | No change |
| OKE Oneok Inc. | 0.07% | 3,000 | $298K | No change |
| IWB iShares Russell 1000 ETF | 0.07% | 957 | $294K | No change |
| BDX Becton Dickinson and Co. | 0.06% | 1,275 | $292K | No change |
| GS Goldman Sachs Group Inc. | 0.06% | 526 | $287K | Add +5.2% |
| KDP Keurig Dr Pepper Inc. | 0.06% | 8,318 | $285K | Add +11.6% |
| PCAR Paccar Inc. | 0.06% | 2,876 | $280K | Add +4.0% |
| EXR Extra Space Storage Inc. | 0.06% | 1,693 | $251K | Add +2.0% |
| WTRG Essential Utilities Inc. | 0.05% | 6,250 | $247K | No change |
| WCC Wesco International Inc. | 0.05% | 1,429 | $222K | Add +9.9% |
Portfolio Sells Q4 2024 → Q1 2025
| GOOGL Alphabet Inc. Class A | Sold out | 0.00% | −4.25 |
| HSY The Hershey Co. | Sold out | 0.00% | −1.40 |
| AAPL Apple Inc. | Reduce -6.6% | 7.36% | −1.03 |
| WST West Pharmaceutical Services | Sold out | 0.00% | −0.58 |
| IVV iShares Core S&P 500 ETF | Reduce -25.8% | 1.33% | −0.44 |
| PYPL PayPal Holdings Inc. | Reduce -1.8% | 0.76% | −0.20 |
| TMUS T-Mobile US Inc. | Sold out | 0.00% | −0.15 |
| BCC Boise Cascade Co. | Reduce -46.6% | 0.11% | −0.12 |
| DHR Danaher Corp. | Sold out | 0.00% | −0.11 |
| NOW ServiceNow Inc. | Sold out | 0.00% | −0.10 |
| SYK Stryker Corp. | Reduce -69.3% | 0.05% | −0.10 |
| PH Parker Hannifin Corp. | Sold out | 0.00% | −0.09 |
| AMT American Tower Corp. | Sold out | 0.00% | −0.09 |
| HD Home Depot Inc. | Reduce -55.6% | 0.07% | −0.09 |
| CRM Salesforce Inc. | Sold out | 0.00% | −0.09 |
| TTD Trade Desk Inc./the Class A | Sold out | 0.00% | −0.08 |
| TMO Thermo Fisher Scientific Inc. | Sold out | 0.00% | −0.08 |
| ROP Roper Technologies Inc. | Sold out | 0.00% | −0.08 |
| IDXX Idexx Laboratories Inc. | Sold out | 0.00% | −0.05 |
| CNI Canadian Natl Railway Co. | Sold out | 0.00% | −0.05 |
| NKE Nike Inc. Class B | Sold out | 0.00% | −0.05 |
| PAYC Paycom Software Inc. | Sold out | 0.00% | −0.05 |
| INTU Intuit Inc. | Reduce -5.8% | 1.66% | −0.04 |
| COST Costco Wholesale Corp. | Reduce -18.3% | 0.32% | −0.04 |
| QCOM Qualcomm Inc. | Reduce -35.1% | 0.08% | −0.03 |
| IWR iShares Russell Mid-Cap ETF | Reduce -8.2% | 0.40% | −0.03 |
| V Visa Inc. Class A | Reduce -17.4% | 0.37% | −0.01 |
| KNOW LABS INC | Sold out | 0.00% | −0.01 |
| XOM Exxon Mobil Corp. | Reduce -19.6% | 0.09% | −0.01 |
| AES AES Corp. | Reduce -1.1% | 0.08% | +0.00 |
| ESGD iShares Trust iShares ESG Aw | Reduce -8.6% | 0.11% | +0.00 |
| SCHD Schwab US DVD Equity ETF | Reduce -0.5% | 0.14% | +0.01 |
| MA Mastercard Inc. Class A | Reduce -9.0% | 3.28% | +0.01 |
| AWK American Water Works Co. Inc. | Reduce -2.5% | 0.15% | +0.03 |
| ECL Ecolab Inc. | Reduce -3.0% | 0.36% | +0.04 |
| WELL Welltower Inc. | Reduce -2.8% | 0.20% | +0.04 |
| JPM JPMorgan Chase & Co. | Reduce -4.2% | 2.64% | +0.10 |
| SPGI S&P Global Inc. | Reduce -1.3% | 2.36% | +0.15 |
| NFLX Netflix Inc. | Reduce -3.0% | 2.35% | +0.16 |
| CME Cme Group Inc. | Reduce -3.0% | 2.55% | +0.38 |
| WM Waste Management Inc. | Reduce -0.7% | 2.45% | +0.42 |
Portfolio Buys Q4 2024 → Q1 2025
| GOOG Alphabet Inc. Class C | Add +1184.6% | 3.88% | +3.53 |
| LRCX Lam Research Corp. | New | 1.19% | +1.19 |
| DXCM Dexcom Inc. | New | 0.52% | +0.52 |
| UNH Unitedhealth Group Inc. | Add +6.4% | 2.79% | +0.40 |
| VO Vngrd Mrngstr MD-Cap ETF-Usd | Add +0.1% | 10.34% | +0.38 |
| SPYM Ste STR SPDR PT S&P 500 ETF | New | 0.37% | +0.37 |
| VRTX Vertex Pharmaceuticals Inc. | Add +0.5% | 1.67% | +0.37 |
| ABT Abbott Laboratories | Add +2.4% | 1.35% | +0.29 |
| FTNT Fortinet Inc. | Add +2.0% | 2.74% | +0.25 |
| LIN Linde PLC | Add +1.5% | 1.47% | +0.24 |
| ZTS Zoetis Inc. | Add +3.4% | 1.92% | +0.18 |
| XYL Xylem Inc. | Add +2.3% | 1.53% | +0.16 |
| AMGN Amgen Inc. | Add +1.9% | 0.70% | +0.16 |
| IEFA iShares Core MSCI Eafe ETF | New | 0.14% | +0.14 |
| EW Edwards Lifesciences Corp. | Add +3.5% | 2.03% | +0.14 |
| SBUX Starbucks Corp. | New | 0.13% | +0.13 |
| EOG EOG Resources Inc. | Add +0.3% | 1.28% | +0.13 |
| EA Electronic Arts Inc. | Add +3.0% | 1.47% | +0.11 |
| CVLC Calvert US L-C CR Resp Index | Add +43.5% | 0.34% | +0.10 |
| FANG Diamondback Energy Inc. | Add +6.5% | 1.08% | +0.10 |
| BRK.B Berkshire Hathaway Inc. Class B | Add +8.6% | 0.36% | +0.09 |
| IEMG iShares Core MSCI Emerging | New | 0.08% | +0.08 |
| PEP Pepsico Inc. | Add +0.2% | 1.68% | +0.07 |
| META Meta Platforms Inc. Class A | New | 0.07% | +0.07 |
| JQUA JPMorgan US Quality Factor | Add +3.2% | 0.92% | +0.07 |
| JNJ Johnson & Johnson | Add +26.0% | 0.18% | +0.06 |
| MSFT Microsoft Corp. | Add +7.0% | 6.55% | +0.06 |
| VZ Verizon Communications Inc. | Add +0.1% | 0.30% | +0.05 |
| LLY Eli Lilly & Co. | New | 0.05% | +0.05 |
| CSCO Cisco Systems Inc. | New | 0.05% | +0.05 |
| CHD Church & Dwight Co. Inc. | New | 0.05% | +0.05 |
| ABBV Abbvie Inc. | Add +29.7% | 0.12% | +0.05 |
| KO The Coca-Cola Co. | Add +20.6% | 0.12% | +0.04 |
| DRI Darden Restaurants Inc. | Add +21.3% | 0.08% | +0.02 |
| PG The Procter & Gamble Co. | Add +16.8% | 0.12% | +0.02 |
| COP Conocophillips | Add +14.0% | 0.08% | +0.02 |
| UL Unilever PLC | Add +12.1% | 0.08% | +0.02 |
| SPG Simon Property Group Inc. | Add +16.1% | 0.10% | +0.01 |
| KDP Keurig Dr Pepper Inc. | Add +11.6% | 0.06% | +0.01 |
| SPY SS SPDR S&P 500 ETF Trust-US | Add +2.9% | 0.12% | +0.00 |
| EXR Extra Space Storage Inc. | Add +2.0% | 0.06% | +0.00 |
| GS Goldman Sachs Group Inc. | Add +5.2% | 0.06% | +0.00 |
| MS Morgan Stanley | Add +5.0% | 0.08% | +0.00 |
| PCAR Paccar Inc. | Add +4.0% | 0.06% | +0.00 |
| LAMR Lamar Advertising Co. Class A | Add +1.9% | 0.10% | +0.00 |
| WSM Williams-Sonoma Inc. | Add +11.7% | 0.07% | +0.00 |
| WCC Wesco International Inc. | Add +9.9% | 0.05% | −0.00 |
| CMI Cummins Inc. | Add +3.2% | 0.07% | −0.00 |
| XBI SS SPDR S&P Biotech ETF | Add +4.4% | 0.93% | −0.00 |
| MAR Marriott International Class A | Add +2.0% | 0.11% | −0.01 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 103 | $492.9M | VO, LRCX, MSFT, AAPL, GOOGL |
| Q1 2026 | 101 | $460.6M | VO, MSFT, AAPL, GOOGL, AMZN |
| Q4 2025 | 99 | $498.0M | VO, MSFT, GOOGL, AAPL, AMZN |
| Q3 2025 | 100 | $487.7M | MSFT, VO, AAPL, GOOGL, NVDA |
| Q2 2025 | 99 | $472.8M | MSFT, VO, AMZN, NVDA, AAPL |
| Q1 2025 | 106 | $451.1M | VO, AAPL, MSFT, AMZN, NVDA |
| Q4 2024 | 113 | $477.6M | VO, AAPL, MSFT, NVDA, AMZN |
| Q3 2024 | 109 | $459.1M | VO, MSFT, AAPL, NVDA, AMZN |
| Q2 2024 | 108 | $439.2M | VO, MSFT, AAPL, NVDA, GOOG |
| Q1 2024 | 116 | $421.4M | VO, MSFT, AAPL, NVDA, GOOGL |