Fulcrum Equity Management
In its 13F for Q4 2024 (holdings as of December 31, 2024, filed March 24, 2025), Fulcrum Equity Management reported 110 stock positions worth $101.1 million. Its top holding was iShares Core S&P Total U.S. (ITOT) at 10.2% of the portfolio, followed by iShares MSCI World ETF (URTH, 7.1%) and Oneok (OKE, 4.7%). Compared with Q3 2024, it opened 24 new positions, sold out of 51, added to 21 and reduced 59. The biggest buy was a new position in Invesco KBW Property & Casua (KBWP) and the biggest sale SS SPDR S&P 500 ETF Trust-US (SPY, shares −65%).
- Most Recent 13F
- Q2 2026
- Location
- PLANO, TX
- CIK
- 0001737888
- Portfolio Value
- $101.1M (Q4 2024)
- SEC Filing
- 0001737888-25-000001 ↗ filed Mar 24, 2025
Holdings Value
Holdings 110 stocks · $101.1M
| ITOT iShares Core S&P Total U.S. | 10.24% | 80,503 | $10.4M | Reduce -0.3% |
| URTH iShares MSCI World ETF | 7.11% | 46,192 | $7.2M | No change |
| OKE Oneok Inc. | 4.68% | 47,110 | $4.7M | Add +0.9% |
| XLK SS Technology Select Sector | 3.99% | 17,331 | $4.0M | Add +4.9% |
| XLF SS Financial Select Sector | 2.26% | 47,217 | $2.3M | Add +12.8% |
| BRK.B Berkshire Hathaway Inc. Class B | 1.98% | 4,410 | $2.0M | No change |
| XLC SS Comm Select Sector SPDR | 1.90% | 19,867 | $1.9M | Add +24.8% |
| XLY SS Consumer Disc Select Sect | 1.84% | 8,295 | $1.9M | Add +197.9% |
| KBWP Invesco KBW Property & Casua | 1.79% | 15,553 | $1.8M | New |
| SPYM Ste STR SPDR PT S&P 500 ETF | 1.76% | 25,799 | $1.8M | Reduce -5.3% |
| XLI SS Industrial Select Sector | 1.59% | 12,185 | $1.6M | Add +46.7% |
| XLU St Sr Utl SL SE SPDR ETF-Usd | 1.45% | 19,379 | $1.5M | Add +63.7% |
| SPY SS SPDR S&P 500 ETF Trust-US | 1.44% | 2,478 | $1.5M | Reduce -64.6% |
| WMT Walmart Inc. | 1.37% | 15,329 | $1.4M | No change |
| AAPL Apple Inc. | 1.36% | 5,510 | $1.4M | Add +1.4% |
| QQQM Invesco Nasdaq 100 ETF | 1.32% | 6,352 | $1.3M | Add +265.7% |
| ENFR Alerian Energy Infrastructur | 1.31% | 42,520 | $1.3M | Reduce -2.3% |
| NVDA Nvidia Corp. | 1.29% | 9,715 | $1.3M | Reduce -18.8% |
| EMLP First Trust North American E | 1.24% | 35,281 | $1.3M | Add +0.8% |
| FDN First Trust DJ Internet Ind | 1.24% | 5,170 | $1.3M | New |
| EINC Vaneck Energy Income ETF | 1.24% | 13,339 | $1.3M | Reduce -7.0% |
| IYF iShares US Financials ETF | 1.24% | 11,341 | $1.3M | New |
| SKYY First Trust Cloud Computing | 1.24% | 10,516 | $1.3M | New |
| UTES Virtus Reaves Utilities ETF | 1.21% | 19,253 | $1.2M | Reduce -16.1% |
| PPA Invesco Aerospace & Defense | 1.20% | 10,580 | $1.2M | Reduce -10.8% |
| IYW iShares Ustechnology ETF | 1.19% | 7,572 | $1.2M | Add +8.0% |
| FCOM Fidelity MSCI Comm Serv Indx | 1.19% | 20,504 | $1.2M | New |
| VOX Vanguard Communication Servi | 1.19% | 7,740 | $1.2M | New |
| IAI iShares U.S. Broker-Dealers | 1.17% | 8,194 | $1.2M | New |
| MLPX Global X MLP & Energy Infras | 1.14% | 18,957 | $1.1M | Reduce -11.6% |
| PTF Invesco Dorsey Wright Tech | 1.11% | 15,454 | $1.1M | New |
| ACIO Aptus Collared Invest Opp | 1.10% | 27,642 | $1.1M | Reduce -5.7% |
| SCHA Schwab US Small-Cap ETF | 1.01% | 39,391 | $1.0M | Add +3.0% |
| XLV SS Health Care Select Sector | 0.97% | 7,134 | $981K | Reduce -9.6% |
| VST Vistra Corp. | 0.90% | 6,602 | $910K | Reduce -51.3% |
| LOW Lowe's Cos Inc. | 0.88% | 3,610 | $891K | Add +0.4% |
| XTL SS SPDR S&P Telecom ETF | 0.88% | 8,272 | $885K | New |
| ILCG iShares Morningstar Growth E | 0.84% | 9,472 | $849K | New |
| KCE SS SPDR S&P Cap MKTS ETF | 0.81% | 5,963 | $821K | New |
| MSFT Microsoft Corp. | 0.81% | 1,942 | $819K | Add +17.3% |
| SILA Sila Realty Trust Inc. | 0.80% | 33,358 | $811K | Add +0.3% |
| IUSB Ishr CR Unvrse Usd BD ETF-Ui | 0.79% | 17,754 | $802K | Reduce -36.9% |
| IVW iShares S&P 500 Growth ETF | 0.79% | 7,822 | $794K | Reduce -1.9% |
| SCHB Schwab US Broad Market ETF | 0.73% | 32,304 | $733K | Reduce -3.8% |
| RECS Columbia Resear Enh Cor ETF | 0.71% | 20,638 | $714K | Reduce -5.8% |
| HYG Ishr Ibx Usd Hiyld CB ETF-Ui | 0.70% | 9,049 | $712K | Reduce -40.7% |
| RSPU Invesco S&P 500 Equal Weight | 0.69% | 10,627 | $699K | New |
| VPU Vanguard Utilities ETF | 0.69% | 4,238 | $693K | New |
| QUAL iShares MSCI USA Quality Fac | 0.67% | 3,828 | $682K | Reduce -0.3% |
| SCHG Schwab US Large-Cap Growth | 0.67% | 24,441 | $681K | Reduce -7.8% |
| DYNF Ishrs US E F R A ETF-Usd Inc. | 0.67% | 13,255 | $679K | Reduce -2.2% |
| ABBV Abbvie Inc. | 0.65% | 3,671 | $652K | Reduce -49.0% |
| VONG Vanguard Russell 1000 Growth | 0.63% | 6,161 | $636K | New |
| AVGO Broadcom Inc. | 0.57% | 2,479 | $575K | Reduce -15.4% |
| EFG iShares MSCI Eafe Growth ETF | 0.55% | 5,738 | $556K | Add +15.2% |
| EFV iShares MSCI Eafe Value ETF | 0.54% | 10,498 | $551K | Add +0.6% |
| KHPI Kensington Hedged PRM in ETF filed as MANAGED PORTFOLIO SERIES | 0.54% | 21,463 | $542K | New |
| GOOGL Alphabet Inc. Class A | 0.54% | 2,861 | $542K | Reduce -2.1% |
| TLT iShares 20+ Year Treasury BD | 0.54% | 6,199 | $541K | Reduce -5.0% |
| AMZN Amazon.com Inc. | 0.52% | 2,379 | $522K | Reduce -8.7% |
| BKHY BNY Mellon High Yield ETF | 0.52% | 10,926 | $521K | Reduce -9.5% |
| VLO Valero Energy Corp. | 0.46% | 3,822 | $469K | Reduce -53.8% |
| TSLA Tesla Inc. | 0.44% | 1,103 | $445K | Add +4.8% |
| SCHZ Schwab US Aggregate Bond ETF | 0.44% | 19,585 | $445K | Reduce -3.8% |
| COST Costco Wholesale Corp. | 0.43% | 472 | $433K | Reduce -25.4% |
| XOM Exxon Mobil Corp. | 0.42% | 3,915 | $421K | Reduce -47.2% |
| DUK Duke Energy Corp. | 0.41% | 3,842 | $414K | Reduce -4.6% |
| PG The Procter & Gamble Co. | 0.40% | 2,393 | $401K | Reduce -25.6% |
| META Meta Platforms Inc. Class A | 0.39% | 666 | $390K | Reduce -25.5% |
| IVE iShares S&P 500 Value ETF | 0.38% | 2,019 | $385K | Reduce -0.3% |
| JPM JPMorgan Chase & Co. | 0.37% | 1,578 | $378K | Reduce -49.6% |
| CGMS Cap Group US Multi-Sect Bond | 0.37% | 13,737 | $375K | New |
| SBUX Starbucks Corp. | 0.33% | 3,660 | $334K | Reduce -11.1% |
| CLOI Vaneck Clo ETF | 0.33% | 6,228 | $329K | Reduce -48.4% |
| FLBL Franklin Senior Loan ETF | 0.33% | 13,542 | $329K | Reduce -52.2% |
| INGR Ingredion Inc. | 0.32% | 2,383 | $328K | Reduce -40.9% |
| SSO Proshares Ultra S&P500 | 0.32% | 3,463 | $320K | Reduce -20.9% |
| TRGP Targa Resources Corp. | 0.32% | 1,792 | $320K | Reduce -42.8% |
| MBB iShares MBS ETF | 0.31% | 3,446 | $316K | Reduce -6.5% |
| GEV GE Vernova Inc. | 0.29% | 886 | $291K | Add +3.6% |
| AHR American Healthcare REIT Inc. | 0.28% | 9,905 | $282K | No change |
| CCL Carnival Corp. | 0.28% | 11,207 | $279K | No change |
| EMXC iShares MSCI Emr MRK Ex Chna | 0.27% | 4,973 | $276K | Add +1.8% |
| XLE SS Energy Select Sector | 0.27% | 3,149 | $270K | Reduce -39.5% |
| NXST Nexstar Media Group Inc. | 0.27% | 1,700 | $269K | Reduce -29.6% |
| CVX Chevron Corp. | 0.27% | 1,851 | $268K | Reduce -52.2% |
| CL Colgate-Palmolive Co. | 0.26% | 2,903 | $264K | Reduce -45.0% |
| PEP Pepsico Inc. | 0.26% | 1,724 | $262K | Reduce -50.0% |
| PSX Phillips 66 | 0.26% | 2,290 | $261K | Reduce -42.3% |
| LMT Lockheed Martin Corp. | 0.26% | 531 | $258K | Reduce -41.0% |
| GS Goldman Sachs Group Inc. | 0.25% | 450 | $258K | Add +9.5% |
| LLY Eli Lilly & Co. | 0.25% | 330 | $255K | Reduce -41.3% |
| VNOM Viper Energy Inc. | 0.24% | 4,984 | $245K | Reduce -47.8% |
| AMGN Amgen Inc. | 0.23% | 907 | $236K | Reduce -54.4% |
| IWM iShares Russell 2000 ETF | 0.23% | 1,067 | $236K | New |
| TLN Talen Energy Corp. | 0.23% | 1,170 | $236K | New |
| UVV Universal Corp. | 0.23% | 4,255 | $233K | Reduce -51.2% |
| IYZ iShares US Telecommunication | 0.23% | 8,495 | $228K | New |
| KMB Kimberly-Clark Corp. | 0.22% | 1,708 | $224K | Reduce -57.0% |
| CEG Constellation Energy | 0.22% | 1,000 | $224K | New |
Portfolio Sells Q3 2024 → Q4 2024
| SPY SS SPDR S&P 500 ETF Trust-US | Reduce -64.6% | 1.44% | −1.96 |
| RSP Invesco S&P 500 Equal Weight | Reduce -86.1% | 0.21% | −1.13 |
| KIE SS SPDR S&P Insurance ETF | Sold out | 0.00% | −1.12 |
| TPYP Managed Portfolio Series | Sold out | 0.00% | −1.10 |
| SPHQ Invesco S&P 500 Quality ETF | Sold out | 0.00% | −1.04 |
| IDU iShares US Utilities ETF | Sold out | 0.00% | −0.99 |
| POCT Innovator U.S. Equity Power | Sold out | 0.00% | −0.97 |
| IAK iShares U.S. Insurance ETF | Sold out | 0.00% | −0.96 |
| AMZA Infracap MLP ETF | Sold out | 0.00% | −0.95 |
| MLPA Global X MLP ETF | Sold out | 0.00% | −0.95 |
| JPST JPMorgan Ultra-Short Income | Sold out | 0.00% | −0.87 |
| MINT PIMCO Enhanced Short Maturit | Sold out | 0.00% | −0.84 |
| PULS Pgim Ultra Short Bond ETF | Sold out | 0.00% | −0.76 |
| SNPE Xtrckr S&P 500 Scor&scrn ETF | Sold out | 0.00% | −0.59 |
| ABBV Abbvie Inc. | Reduce -49.0% | 0.65% | −0.56 |
| JNJ Johnson & Johnson | Sold out | 0.00% | −0.54 |
| COP Conocophillips | Sold out | 0.00% | −0.53 |
| XLP SS Consumer Staples Sel Sect | Sold out | 0.00% | −0.52 |
| VLO Valero Energy Corp. | Reduce -53.8% | 0.46% | −0.48 |
| XLRE SS Real Estate Select Sector | Sold out | 0.00% | −0.47 |
| VST Vistra Corp. | Reduce -51.3% | 0.90% | −0.46 |
| ETF SER SOLUTIONS | Sold out | 0.00% | −0.41 |
| BND Vanguard Total Bond Market | Sold out | 0.00% | −0.40 |
| BAH Booz Allen Hamilton Holdings | Sold out | 0.00% | −0.40 |
| EOG EOG Resources Inc. | Sold out | 0.00% | −0.39 |
| PFE Pfizer Inc. | Sold out | 0.00% | −0.37 |
| HYG Ishr Ibx Usd Hiyld CB ETF-Ui | Reduce -40.7% | 0.70% | −0.33 |
| IUSB Ishr CR Unvrse Usd BD ETF-Ui | Reduce -36.9% | 0.79% | −0.33 |
| ACWI iShares MSCI Acwi ETF | Sold out | 0.00% | −0.32 |
| D Dominion Energy Inc. | Sold out | 0.00% | −0.32 |
| XOM Exxon Mobil Corp. | Reduce -47.2% | 0.42% | −0.32 |
| BIL SS SPDR BB 1-3M T-Bill ETF | Sold out | 0.00% | −0.32 |
| AMGN Amgen Inc. | Reduce -54.4% | 0.23% | −0.31 |
| BWXT BWX Technologies Inc. | Sold out | 0.00% | −0.31 |
| EFA iShares MSCI Eafe ETF | Sold out | 0.00% | −0.29 |
| SHYG iShares 0-5 YR HY Corp. Bond | Sold out | 0.00% | −0.29 |
| QCOM Qualcomm Inc. | Sold out | 0.00% | −0.29 |
| FTEC Fidelity MSCI Info Tech Indx | Sold out | 0.00% | −0.28 |
| MCD McDonald's Corp. | Sold out | 0.00% | −0.28 |
| SO The Southern Co. | Sold out | 0.00% | −0.28 |
| CDW CDW Corp. | Sold out | 0.00% | −0.28 |
| RIO Rio Tinto PLC-Spon ADR | Sold out | 0.00% | −0.26 |
| HII Huntington Ingalls Industrie | Reduce -46.0% | 0.21% | −0.26 |
| KMB Kimberly-Clark Corp. | Reduce -57.0% | 0.22% | −0.26 |
| FLBL Franklin Senior Loan ETF | Reduce -52.2% | 0.33% | −0.26 |
| VET Vermilion Energy Inc. | Sold out | 0.00% | −0.25 |
| PEP Pepsico Inc. | Reduce -50.0% | 0.26% | −0.24 |
| CSCO Cisco Systems Inc. | Sold out | 0.00% | −0.23 |
| NRG NRG Energy Inc. | Sold out | 0.00% | −0.23 |
| KO The Coca-Cola Co. | Sold out | 0.00% | −0.23 |
Portfolio Buys Q3 2024 → Q4 2024
| KBWP Invesco KBW Property & Casua | New | 1.79% | +1.79 |
| XLY SS Consumer Disc Select Sect | Add +197.9% | 1.84% | +1.37 |
| FDN First Trust DJ Internet Ind | New | 1.24% | +1.24 |
| IYF iShares US Financials ETF | New | 1.24% | +1.24 |
| SKYY First Trust Cloud Computing | New | 1.24% | +1.24 |
| FCOM Fidelity MSCI Comm Serv Indx | New | 1.19% | +1.19 |
| VOX Vanguard Communication Servi | New | 1.19% | +1.19 |
| IAI iShares U.S. Broker-Dealers | New | 1.17% | +1.17 |
| PTF Invesco Dorsey Wright Tech | New | 1.11% | +1.11 |
| OKE Oneok Inc. | Add +0.9% | 4.68% | +1.09 |
| QQQM Invesco Nasdaq 100 ETF | Add +265.7% | 1.32% | +1.03 |
| XTL SS SPDR S&P Telecom ETF | New | 0.88% | +0.88 |
| ILCG iShares Morningstar Growth E | New | 0.84% | +0.84 |
| XLK SS Technology Select Sector | Add +4.9% | 3.99% | +0.84 |
| KCE SS SPDR S&P Cap MKTS ETF | New | 0.81% | +0.81 |
| RSPU Invesco S&P 500 Equal Weight | New | 0.69% | +0.69 |
| XLC SS Comm Select Sector SPDR | Add +24.8% | 1.90% | +0.69 |
| VPU Vanguard Utilities ETF | New | 0.69% | +0.69 |
| XLF SS Financial Select Sector | Add +12.8% | 2.26% | +0.66 |
| XLU St Sr Utl SL SE SPDR ETF-Usd | Add +63.7% | 1.45% | +0.64 |
| XLI SS Industrial Select Sector | Add +46.7% | 1.59% | +0.64 |
| VONG Vanguard Russell 1000 Growth | New | 0.63% | +0.63 |
| KHPI Kensington Hedged PRM in ETF | New | 0.54% | +0.54 |
| CGMS Cap Group US Multi-Sect Bond | New | 0.37% | +0.37 |
| IYW iShares Ustechnology ETF | Add +8.0% | 1.19% | +0.30 |
| AAPL Apple Inc. | Add +1.4% | 1.36% | +0.30 |
| EMLP First Trust North American E | Add +0.8% | 1.24% | +0.25 |
| IWM iShares Russell 2000 ETF | New | 0.23% | +0.23 |
| TLN Talen Energy Corp. | New | 0.23% | +0.23 |
| IYZ iShares US Telecommunication | New | 0.23% | +0.23 |
| CEG Constellation Energy | New | 0.22% | +0.22 |
| FDVV Fidelity High Dividend ETF | New | 0.22% | +0.22 |
| DHS Wisdomtree US High Dividend | New | 0.22% | +0.22 |
| SPMO Invesco S&P 500 Momentum ETF | New | 0.21% | +0.21 |
| TSLA Tesla Inc. | Add +4.8% | 0.44% | +0.21 |
| MSFT Microsoft Corp. | Add +17.3% | 0.81% | +0.21 |
| SCHA Schwab US Small-Cap ETF | Add +3.0% | 1.01% | +0.18 |
| GEV GE Vernova Inc. | Add +3.6% | 0.29% | +0.10 |
| EFG iShares MSCI Eafe Growth ETF | Add +15.2% | 0.55% | +0.10 |
| SILA Sila Realty Trust Inc. | Add +0.3% | 0.80% | +0.09 |
| GS Goldman Sachs Group Inc. | Add +9.5% | 0.25% | +0.08 |
| SAN Banco Santander SA-Spon ADR | New | 0.06% | +0.06 |
| LOW Lowe's Cos Inc. | Add +0.4% | 0.88% | +0.06 |
| EFV iShares MSCI Eafe Value ETF | Add +0.6% | 0.54% | +0.04 |
| EMXC iShares MSCI Emr MRK Ex Chna | Add +1.8% | 0.27% | +0.02 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 140 | $123.6M | ITOT, URTH, XLK, OKE, NVDA |
| Q1 2026 | 123 | $102.7M | ITOT, URTH, OKE, XLK, NVDA |
| Q4 2025 | 117 | $104.5M | ITOT, URTH, XLK, NVDA, OKE |
| Q3 2025 | 94 | $98.7M | ITOT, SPY, URTH, XLK, OKE |
| Q2 2025 | 102 | $97.4M | ITOT, URTH, SPY, SPLV, XLK |
| Q1 2025 | 96 | $91.6M | ITOT, URTH, RSP, OKE, XLK |
| Q4 2024 | 110 | $101.1M | ITOT, URTH, OKE, XLK, XLF |
| Q3 2024Amended | 137 | $118.4M | ITOT, URTH, OKE, SPY, XLK |
| Q2 2024 | 130 | $111.4M | ITOT, URTH, OKE, SPY, SPYM |
| Q1 2024 | 109 | $84.8M | URTH, OKE, SPY, HYG, QQQM |