Fulcrum Equity Management
In its 13F for Q1 2025 (holdings as of March 31, 2025, filed May 1, 2025), Fulcrum Equity Management reported 96 stock positions worth $91.6 million. Its top holding was iShares Core S&P Total U.S. (ITOT) at 10.7% of the portfolio, followed by iShares MSCI World ETF (URTH, 7.7%) and Invesco S&P 500 Equal Weight (RSP, 5.2%). Compared with Q4 2024, it opened 17 new positions, sold out of 31, added to 25 and reduced 49. The biggest buy was Invesco S&P 500 Equal Weight (RSP, shares +2111%) and the biggest sale an exit from Invesco KBW Property & Casua (KBWP).
- Most Recent 13F
- Q2 2026
- Location
- PLANO, TX
- CIK
- 0001737888
- Portfolio Value
- $91.6M (Q1 2025)
- SEC Filing
- 0001737888-25-000004 ↗ filed May 1, 2025
Holdings Value
Holdings 96 stocks · $91.6M
| ITOT iShares Core S&P Total U.S. | 10.69% | 80,191 | $9.8M | Reduce -0.4% |
| URTH iShares MSCI World ETF | 7.73% | 46,192 | $7.1M | No change |
| RSP Invesco S&P 500 Equal Weight | 5.17% | 27,302 | $4.7M | Add +2110.7% |
| OKE Oneok Inc. | 5.16% | 47,599 | $4.7M | Add +1.0% |
| XLK SS Technology Select Sector | 4.22% | 18,699 | $3.9M | Add +7.9% |
| XLC SS Comm Select Sector SPDR | 3.43% | 32,549 | $3.1M | Add +63.8% |
| SPY SS SPDR S&P 500 ETF Trust-US | 3.20% | 5,236 | $2.9M | Add +111.3% |
| BRK.B Berkshire Hathaway Inc. Class B | 2.57% | 4,410 | $2.3M | No change |
| XLF SS Financial Select Sector | 2.50% | 46,009 | $2.3M | Reduce -2.6% |
| XLY SS Consumer Disc Select Sect | 1.77% | 8,201 | $1.6M | Reduce -1.1% |
| XLV SS Health Care Select Sector | 1.71% | 10,741 | $1.6M | Add +50.6% |
| KIE SS SPDR S&P Insurance ETF | 1.69% | 25,531 | $1.5M | New |
| AAPL Apple Inc. | 1.59% | 6,535 | $1.5M | Add +18.6% |
| SPYM Ste STR SPDR PT S&P 500 ETF | 1.56% | 21,770 | $1.4M | Reduce -15.6% |
| WMT Walmart Inc. | 1.48% | 15,450 | $1.4M | Add +0.8% |
| ENFR Alerian Energy Infrastructur | 1.34% | 37,363 | $1.2M | Reduce -12.1% |
| IYW iShares Ustechnology ETF | 1.31% | 8,510 | $1.2M | Add +12.4% |
| EINC Vaneck Energy Income ETF | 1.22% | 11,156 | $1.1M | Reduce -16.4% |
| PPA Invesco Aerospace & Defense | 1.22% | 9,556 | $1.1M | Reduce -9.7% |
| EMLP First Trust North American E | 1.19% | 29,129 | $1.1M | Reduce -17.4% |
| XTL SS SPDR S&P Telecom ETF | 1.19% | 10,900 | $1.1M | Add +31.8% |
| XLI SS Industrial Select Sector | 1.18% | 8,222 | $1.1M | Reduce -32.5% |
| NVDA Nvidia Corp. | 1.11% | 9,383 | $1.0M | Reduce -3.4% |
| ISHP First Trust S-Network E-Comm | 1.09% | 27,718 | $1.0M | New |
| MLPX Global X MLP & Energy Infras | 1.09% | 15,654 | $999K | Reduce -17.4% |
| MINT PIMCO Enhanced Short Maturit | 1.04% | 9,460 | $952K | New |
| IETC iShares U.S. Tech Independen | 1.03% | 12,592 | $944K | New |
| VFH Vanguard Financials ETF | 1.03% | 7,893 | $943K | New |
| SCHA Schwab US Small-Cap ETF | 0.99% | 38,705 | $907K | Reduce -1.7% |
| SILA Sila Realty Trust Inc. | 0.98% | 33,470 | $894K | Add +0.3% |
| FDN First Trust DJ Internet Ind | 0.96% | 3,961 | $880K | Reduce -23.4% |
| LOW Lowe's Cos Inc. | 0.87% | 3,421 | $798K | Reduce -5.2% |
| IUSB Ishr CR Unvrse Usd BD ETF-Ui | 0.86% | 17,091 | $788K | Reduce -3.7% |
| SCHB Schwab US Broad Market ETF | 0.82% | 35,022 | $754K | Add +8.4% |
| XLP SS Consumer Staples Sel Sect | 0.80% | 8,969 | $732K | New |
| JPST JPMorgan Ultra-Short Income | 0.80% | 14,456 | $732K | New |
| QUAL iShares MSCI USA Quality Fac | 0.80% | 4,265 | $729K | Add +11.4% |
| IVW iShares S&P 500 Growth ETF | 0.78% | 7,706 | $715K | Reduce -1.5% |
| ABBV Abbvie Inc. | 0.78% | 3,399 | $712K | Reduce -7.4% |
| AMZN Amazon.com Inc. | 0.73% | 3,519 | $670K | Add +47.9% |
| DYNF Ishrs US E F R A ETF-Usd Inc. | 0.69% | 13,025 | $635K | Reduce -1.7% |
| HYG Ishr Ibx Usd Hiyld CB ETF-Ui | 0.68% | 7,897 | $623K | Reduce -12.7% |
| SCHG Schwab US Large-Cap Growth | 0.68% | 24,782 | $621K | Add +1.4% |
| BIL SS SPDR BB 1-3M T-Bill ETF | 0.68% | 6,758 | $620K | New |
| GSST Goldman Sachs Ultra Short Bo | 0.61% | 11,121 | $562K | New |
| IVE iShares S&P 500 Value ETF | 0.59% | 2,813 | $536K | Add +39.3% |
| EFV iShares MSCI Eafe Value ETF | 0.52% | 8,065 | $475K | Reduce -23.2% |
| DUK Duke Energy Corp. | 0.52% | 3,868 | $472K | Add +0.7% |
| XOM Exxon Mobil Corp. | 0.51% | 3,929 | $467K | Add +0.4% |
| VLO Valero Energy Corp. | 0.50% | 3,462 | $457K | Reduce -9.4% |
| SCHZ Schwab US Aggregate Bond ETF | 0.49% | 19,267 | $446K | Reduce -1.6% |
| BKHY BNY Mellon High Yield ETF | 0.48% | 9,302 | $443K | Reduce -14.9% |
| AVGO Broadcom Inc. | 0.48% | 2,600 | $435K | Add +4.9% |
| META Meta Platforms Inc. Class A | 0.45% | 711 | $410K | Add +6.8% |
| COST Costco Wholesale Corp. | 0.44% | 429 | $406K | Reduce -9.1% |
| GOOGL Alphabet Inc. Class A | 0.44% | 2,604 | $403K | Reduce -9.0% |
| TLT iShares 20+ Year Treasury BD | 0.42% | 4,258 | $388K | Reduce -31.3% |
| JPM JPMorgan Chase & Co. | 0.42% | 1,565 | $384K | Reduce -0.8% |
| TSLA Tesla Inc. | 0.42% | 1,467 | $380K | Add +33.0% |
| SBUX Starbucks Corp. | 0.39% | 3,660 | $359K | No change |
| CGMS Cap Group US Multi-Sect Bond | 0.35% | 11,877 | $324K | Reduce -13.5% |
| KHPI Kensington Hedged PRM in ETF filed as MANAGED PORTFOLIO SERIES | 0.35% | 13,397 | $321K | Reduce -37.6% |
| CSCO Cisco Systems Inc. | 0.35% | 5,167 | $319K | New |
| TRGP Targa Resources Corp. | 0.34% | 1,559 | $313K | Reduce -13.0% |
| CVX Chevron Corp. | 0.34% | 1,853 | $310K | Add +0.1% |
| EFG iShares MSCI Eafe Growth ETF | 0.33% | 3,021 | $302K | Reduce -47.4% |
| PSX Phillips 66 | 0.33% | 2,439 | $301K | Add +6.5% |
| AHR American Healthcare REIT Inc. | 0.33% | 9,905 | $300K | No change |
| XLU St Sr Utl SL SE SPDR ETF-Usd | 0.32% | 3,769 | $297K | Reduce -80.5% |
| XLE SS Energy Select Sector | 0.32% | 3,149 | $294K | No change |
| INGR Ingredion Inc. | 0.32% | 2,175 | $294K | Reduce -8.7% |
| CLOI Vaneck Clo ETF | 0.32% | 5,478 | $289K | Reduce -12.0% |
| FLBL Franklin Senior Loan ETF | 0.31% | 11,957 | $288K | Reduce -11.7% |
| GEV GE Vernova Inc. | 0.29% | 855 | $261K | Reduce -3.5% |
| XTEN Bondbloxx BBG 10Y US TSY ETF | 0.28% | 5,576 | $260K | New |
| CME Cme Group Inc. | 0.28% | 971 | $258K | New |
| MSFT Microsoft Corp. | 0.28% | 679 | $255K | Reduce -65.0% |
| IWM iShares Russell 2000 ETF | 0.27% | 1,245 | $248K | Add +16.7% |
| AMGN Amgen Inc. | 0.27% | 793 | $247K | Reduce -12.6% |
| GS Goldman Sachs Group Inc. | 0.27% | 445 | $243K | Reduce -1.1% |
| PEP Pepsico Inc. | 0.26% | 1,589 | $238K | Reduce -7.8% |
| MBB iShares MBS ETF | 0.26% | 2,505 | $235K | Reduce -27.3% |
| LLY Eli Lilly & Co. | 0.26% | 284 | $235K | Reduce -13.9% |
| PG The Procter & Gamble Co. | 0.25% | 1,330 | $227K | Reduce -44.4% |
| EMXC iShares MSCI Emr MRK Ex Chna | 0.24% | 4,071 | $224K | Reduce -18.1% |
| IEMG iShares Core MSCI Emerging | 0.24% | 4,154 | $224K | New |
| VZ Verizon Communications Inc. | 0.24% | 4,828 | $219K | New |
| CCL Carnival Corp. | 0.24% | 11,099 | $217K | Reduce -1.0% |
| CL Colgate-Palmolive Co. | 0.24% | 2,300 | $215K | Reduce -20.8% |
| ATO Atmos Energy Corp. | 0.24% | 1,393 | $215K | New |
| XLG Invesco S&P 500 Top 50 ETF | 0.23% | 4,592 | $211K | New |
| UVV Universal Corp. | 0.23% | 3,700 | $207K | Reduce -13.0% |
| VNOM Viper Energy Inc. | 0.22% | 4,517 | $204K | Reduce -9.4% |
| PH Parker Hannifin Corp. | 0.22% | 335 | $204K | New |
| SPMO Invesco S&P 500 Momentum ETF | 0.22% | 2,179 | $202K | Reduce -2.0% |
| SAN Banco Santander SA-Spon ADR | 0.11% | 14,967 | $100K | Add +5.5% |
Portfolio Sells Q4 2024 → Q1 2025
| KBWP Invesco KBW Property & Casua | Sold out | 0.00% | −1.79 |
| QQQM Invesco Nasdaq 100 ETF | Sold out | 0.00% | −1.32 |
| IYF iShares US Financials ETF | Sold out | 0.00% | −1.24 |
| SKYY First Trust Cloud Computing | Sold out | 0.00% | −1.24 |
| UTES Virtus Reaves Utilities ETF | Sold out | 0.00% | −1.21 |
| FCOM Fidelity MSCI Comm Serv Indx | Sold out | 0.00% | −1.19 |
| VOX Vanguard Communication Servi | Sold out | 0.00% | −1.19 |
| IAI iShares U.S. Broker-Dealers | Sold out | 0.00% | −1.17 |
| XLU St Sr Utl SL SE SPDR ETF-Usd | Reduce -80.5% | 0.32% | −1.13 |
| PTF Invesco Dorsey Wright Tech | Sold out | 0.00% | −1.11 |
| ACIO Aptus Collared Invest Opp | Sold out | 0.00% | −1.10 |
| VST Vistra Corp. | Sold out | 0.00% | −0.90 |
| ILCG iShares Morningstar Growth E | Sold out | 0.00% | −0.84 |
| KCE SS SPDR S&P Cap MKTS ETF | Sold out | 0.00% | −0.81 |
| RECS Columbia Resear Enh Cor ETF | Sold out | 0.00% | −0.71 |
| RSPU Invesco S&P 500 Equal Weight | Sold out | 0.00% | −0.69 |
| VPU Vanguard Utilities ETF | Sold out | 0.00% | −0.69 |
| VONG Vanguard Russell 1000 Growth | Sold out | 0.00% | −0.63 |
| MSFT Microsoft Corp. | Reduce -65.0% | 0.28% | −0.53 |
| XLI SS Industrial Select Sector | Reduce -32.5% | 1.18% | −0.41 |
| SSO Proshares Ultra S&P500 | Sold out | 0.00% | −0.32 |
| FDN First Trust DJ Internet Ind | Reduce -23.4% | 0.96% | −0.28 |
| NXST Nexstar Media Group Inc. | Sold out | 0.00% | −0.27 |
| LMT Lockheed Martin Corp. | Sold out | 0.00% | −0.26 |
| TLN Talen Energy Corp. | Sold out | 0.00% | −0.23 |
| IYZ iShares US Telecommunication | Sold out | 0.00% | −0.23 |
| KMB Kimberly-Clark Corp. | Sold out | 0.00% | −0.22 |
| CEG Constellation Energy | Sold out | 0.00% | −0.22 |
| FDVV Fidelity High Dividend ETF | Sold out | 0.00% | −0.22 |
| EFG iShares MSCI Eafe Growth ETF | Reduce -47.4% | 0.33% | −0.22 |
| SPHD Invesco S&P 500 High Dividen | Sold out | 0.00% | −0.22 |
| DHS Wisdomtree US High Dividend | Sold out | 0.00% | −0.22 |
| HII Huntington Ingalls Industrie | Sold out | 0.00% | −0.21 |
| GD General Dynamics Corp. | Sold out | 0.00% | −0.21 |
| RY Royal Bank of Canada | Sold out | 0.00% | −0.21 |
| IVV iShares Core S&P 500 ETF | Sold out | 0.00% | −0.20 |
| SPYM Ste STR SPDR PT S&P 500 ETF | Reduce -15.6% | 1.56% | −0.20 |
| KHPI Kensington Hedged PRM in ETF | Reduce -37.6% | 0.35% | −0.19 |
| NVDA Nvidia Corp. | Reduce -3.4% | 1.11% | −0.18 |
| PG The Procter & Gamble Co. | Reduce -44.4% | 0.25% | −0.15 |
| TLT iShares 20+ Year Treasury BD | Reduce -31.3% | 0.42% | −0.11 |
| GOOGL Alphabet Inc. Class A | Reduce -9.0% | 0.44% | −0.10 |
| XLY SS Consumer Disc Select Sect | Reduce -1.1% | 1.77% | −0.07 |
| MBB iShares MBS ETF | Reduce -27.3% | 0.26% | −0.06 |
| EMLP First Trust North American E | Reduce -17.4% | 1.19% | −0.05 |
| MLPX Global X MLP & Energy Infras | Reduce -17.4% | 1.09% | −0.04 |
| CCL Carnival Corp. | Reduce -1.0% | 0.24% | −0.04 |
| BKHY BNY Mellon High Yield ETF | Reduce -14.9% | 0.48% | −0.03 |
| EMXC iShares MSCI Emr MRK Ex Chna | Reduce -18.1% | 0.24% | −0.03 |
| CL Colgate-Palmolive Co. | Reduce -20.8% | 0.24% | −0.03 |
Portfolio Buys Q4 2024 → Q1 2025
| RSP Invesco S&P 500 Equal Weight | Add +2110.7% | 5.17% | +4.95 |
| SPY SS SPDR S&P 500 ETF Trust-US | Add +111.3% | 3.20% | +1.76 |
| KIE SS SPDR S&P Insurance ETF | New | 1.69% | +1.69 |
| XLC SS Comm Select Sector SPDR | Add +63.8% | 3.43% | +1.53 |
| ISHP First Trust S-Network E-Comm | New | 1.09% | +1.09 |
| MINT PIMCO Enhanced Short Maturit | New | 1.04% | +1.04 |
| IETC iShares U.S. Tech Independen | New | 1.03% | +1.03 |
| VFH Vanguard Financials ETF | New | 1.03% | +1.03 |
| XLP SS Consumer Staples Sel Sect | New | 0.80% | +0.80 |
| JPST JPMorgan Ultra-Short Income | New | 0.80% | +0.80 |
| XLV SS Health Care Select Sector | Add +50.6% | 1.71% | +0.74 |
| BIL SS SPDR BB 1-3M T-Bill ETF | New | 0.68% | +0.68 |
| GSST Goldman Sachs Ultra Short Bo | New | 0.61% | +0.61 |
| OKE Oneok Inc. | Add +1.0% | 5.16% | +0.48 |
| CSCO Cisco Systems Inc. | New | 0.35% | +0.35 |
| XTL SS SPDR S&P Telecom ETF | Add +31.8% | 1.19% | +0.31 |
| XTEN Bondbloxx BBG 10Y US TSY ETF | New | 0.28% | +0.28 |
| CME Cme Group Inc. | New | 0.28% | +0.28 |
| IEMG iShares Core MSCI Emerging | New | 0.24% | +0.24 |
| VZ Verizon Communications Inc. | New | 0.24% | +0.24 |
| ATO Atmos Energy Corp. | New | 0.24% | +0.24 |
| XLG Invesco S&P 500 Top 50 ETF | New | 0.23% | +0.23 |
| XLK SS Technology Select Sector | Add +7.9% | 4.22% | +0.23 |
| PH Parker Hannifin Corp. | New | 0.22% | +0.22 |
| AAPL Apple Inc. | Add +18.6% | 1.59% | +0.22 |
| AMZN Amazon.com Inc. | Add +47.9% | 0.73% | +0.21 |
| IVE iShares S&P 500 Value ETF | Add +39.3% | 0.59% | +0.20 |
| SILA Sila Realty Trust Inc. | Add +0.3% | 0.98% | +0.17 |
| QUAL iShares MSCI USA Quality Fac | Add +11.4% | 0.80% | +0.12 |
| WMT Walmart Inc. | Add +0.8% | 1.48% | +0.11 |
| IYW iShares Ustechnology ETF | Add +12.4% | 1.31% | +0.11 |
| DUK Duke Energy Corp. | Add +0.7% | 0.52% | +0.11 |
| SCHB Schwab US Broad Market ETF | Add +8.4% | 0.82% | +0.10 |
| XOM Exxon Mobil Corp. | Add +0.4% | 0.51% | +0.09 |
| CVX Chevron Corp. | Add +0.1% | 0.34% | +0.07 |
| PSX Phillips 66 | Add +6.5% | 0.33% | +0.07 |
| META Meta Platforms Inc. Class A | Add +6.8% | 0.45% | +0.06 |
| SAN Banco Santander SA-Spon ADR | Add +5.5% | 0.11% | +0.05 |
| IWM iShares Russell 2000 ETF | Add +16.7% | 0.27% | +0.04 |
| SCHG Schwab US Large-Cap Growth | Add +1.4% | 0.68% | +0.00 |
| TSLA Tesla Inc. | Add +33.0% | 0.42% | −0.03 |
| AVGO Broadcom Inc. | Add +4.9% | 0.48% | −0.09 |
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 |