Fulcrum Equity Management
In its 13F for Q2 2025 (holdings as of June 30, 2025, filed August 25, 2025), Fulcrum Equity Management reported 102 stock positions worth $97.4 million. Its top holding was iShares Core S&P Total U.S. (ITOT) at 11.2% of the portfolio, followed by iShares MSCI World ETF (URTH, 8.0%) and SS SPDR S&P 500 ETF Trust-US (SPY, 7.1%). Compared with Q1 2025, it opened 32 new positions, sold out of 26, added to 34 and reduced 32. The biggest buy was a new position in Invesco S&P 500 Low Volatili (SPLV) and the biggest sale an exit from Invesco S&P 500 Equal Weight (RSP).
- Most Recent 13F
- Q2 2026
- Location
- PLANO, TX
- CIK
- 0001737888
- Portfolio Value
- $97.4M (Q2 2025)
- SEC Filing
- 0001737888-25-000006 ↗ filed Aug 25, 2025
Holdings Value
Holdings 102 stocks · $97.4M
| ITOT iShares Core S&P Total U.S. | 11.15% | 80,410 | $10.9M | Add +0.3% |
| URTH iShares MSCI World ETF | 8.04% | 46,192 | $7.8M | No change |
| SPY SS SPDR S&P 500 ETF Trust-US | 7.09% | 11,177 | $6.9M | Add +113.5% |
| SPLV Invesco S&P 500 Low Volatili | 4.98% | 66,540 | $4.8M | New |
| XLK SS Technology Select Sector | 4.82% | 18,539 | $4.7M | Reduce -0.9% |
| OKE Oneok Inc. | 4.13% | 49,213 | $4.0M | Add +3.4% |
| BRK.B Berkshire Hathaway Inc. Class B | 2.20% | 4,418 | $2.1M | Add +0.2% |
| XLF SS Financial Select Sector | 1.96% | 36,467 | $1.9M | Reduce -20.7% |
| XLC SS Comm Select Sector SPDR | 1.82% | 16,357 | $1.8M | Reduce -49.8% |
| NVDA Nvidia Corp. | 1.79% | 11,013 | $1.7M | Add +17.4% |
| IYW iShares Ustechnology ETF | 1.60% | 8,965 | $1.6M | Add +5.3% |
| WMT Walmart Inc. | 1.58% | 15,693 | $1.5M | Add +1.6% |
| QQQM Invesco Nasdaq 100 ETF | 1.53% | 6,553 | $1.5M | New |
| KIE SS SPDR S&P Insurance ETF | 1.51% | 24,649 | $1.5M | Reduce -3.5% |
| BIL SS SPDR BB 1-3M T-Bill ETF | 1.37% | 14,519 | $1.3M | Add +114.8% |
| XLU St Sr Utl SL SE SPDR ETF-Usd | 1.30% | 15,544 | $1.3M | Add +312.4% |
| XLP SS Consumer Staples Sel Sect | 1.28% | 15,432 | $1.2M | Add +72.1% |
| ENFR Alerian Energy Infrastructur | 1.11% | 33,442 | $1.1M | Reduce -10.5% |
| SCHB Schwab US Broad Market ETF | 1.02% | 41,805 | $996K | Add +19.4% |
| EINC Vaneck Energy Income ETF | 1.00% | 9,871 | $974K | Reduce -11.5% |
| XLI SS Industrial Select Sector | 1.00% | 6,584 | $971K | Reduce -19.9% |
| EMLP First Trust North American E | 0.99% | 25,819 | $968K | Reduce -11.4% |
| SCHG Schwab US Large-Cap Growth | 0.98% | 32,820 | $959K | Add +32.4% |
| SPYM Ste STR SPDR PT S&P 500 ETF | 0.98% | 13,111 | $953K | Reduce -39.8% |
| IVV iShares Core S&P 500 ETF | 0.96% | 1,512 | $939K | New |
| FXU First Trust Utilities Alphad | 0.96% | 21,953 | $930K | New |
| AAPL Apple Inc. | 0.92% | 4,370 | $897K | Reduce -33.1% |
| MLPX Global X MLP & Energy Infras | 0.90% | 13,972 | $875K | Reduce -10.7% |
| AMZN Amazon.com Inc. | 0.88% | 3,907 | $857K | Add +11.0% |
| XLV SS Health Care Select Sector | 0.88% | 6,342 | $855K | Reduce -41.0% |
| IAK iShares U.S. Insurance ETF | 0.88% | 6,351 | $854K | New |
| XLY SS Consumer Disc Select Sect | 0.87% | 3,901 | $848K | Reduce -52.4% |
| QUAL iShares MSCI USA Quality Fac | 0.84% | 4,462 | $816K | Add +4.6% |
| SHY iShares 1-3 Year Treasury Bo | 0.81% | 9,475 | $785K | New |
| LOW Lowe's Cos Inc. | 0.78% | 3,440 | $763K | Add +0.6% |
| EFV iShares MSCI Eafe Value ETF | 0.78% | 11,966 | $760K | Add +48.4% |
| AVGO Broadcom Inc. | 0.74% | 2,628 | $725K | Add +1.1% |
| SILA Sila Realty Trust Inc. | 0.74% | 30,429 | $720K | Reduce -9.1% |
| DYNF Ishrs US E F R A ETF-Usd Inc. | 0.73% | 13,028 | $710K | Add +0.0% |
| META Meta Platforms Inc. Class A | 0.70% | 918 | $678K | Add +29.1% |
| IVW iShares S&P 500 Growth ETF | 0.67% | 5,902 | $650K | Reduce -23.4% |
| ABBV Abbvie Inc. | 0.66% | 3,443 | $639K | Add +1.3% |
| IUSB Ishr CR Unvrse Usd BD ETF-Ui | 0.63% | 13,311 | $615K | Reduce -22.1% |
| IVE iShares S&P 500 Value ETF | 0.59% | 2,955 | $577K | Add +5.0% |
| XTEN Bondbloxx BBG 10Y US TSY ETF | 0.57% | 12,082 | $558K | Add +116.7% |
| ACWV iShares MSCI Global Min Vol | 0.52% | 4,310 | $511K | New |
| GEV GE Vernova Inc. | 0.51% | 941 | $498K | Add +10.1% |
| IEMG iShares Core MSCI Emerging | 0.50% | 8,104 | $486K | Add +95.1% |
| TSLA Tesla Inc. | 0.50% | 1,531 | $486K | Add +4.4% |
| HYG Ishr Ibx Usd Hiyld CB ETF-Ui | 0.48% | 5,769 | $465K | Reduce -26.9% |
| GOOGL Alphabet Inc. Class A | 0.48% | 2,633 | $464K | Add +1.1% |
| SPMO Invesco S&P 500 Momentum ETF | 0.48% | 4,117 | $463K | Add +88.9% |
| DUK Duke Energy Corp. | 0.47% | 3,893 | $459K | Add +0.7% |
| COST Costco Wholesale Corp. | 0.46% | 449 | $445K | Add +4.7% |
| JPM JPMorgan Chase & Co. | 0.46% | 1,530 | $444K | Reduce -2.2% |
| BKHY BNY Mellon High Yield ETF | 0.44% | 8,944 | $432K | Reduce -3.9% |
| MSFT Microsoft Corp. | 0.43% | 836 | $416K | Add +23.1% |
| XOM Exxon Mobil Corp. | 0.42% | 3,816 | $411K | Reduce -2.9% |
| SCHZ Schwab US Aggregate Bond ETF | 0.39% | 16,342 | $380K | Reduce -15.2% |
| KHPI Kensington Hedged PRM in ETF filed as MANAGED PORTFOLIO SERIES | 0.39% | 14,993 | $379K | Add +11.9% |
| FLHY Franklin High Yield Corporat | 0.38% | 15,385 | $375K | New |
| VLO Valero Energy Corp. | 0.38% | 2,735 | $368K | Reduce -21.0% |
| AHR American Healthcare REIT Inc. | 0.37% | 9,905 | $364K | No change |
| FTEC Fidelity MSCI Info Tech Indx | 0.37% | 1,824 | $360K | New |
| EFG iShares MSCI Eafe Growth ETF | 0.34% | 2,997 | $336K | Reduce -0.8% |
| SBUX Starbucks Corp. | 0.34% | 3,636 | $333K | Reduce -0.7% |
| SPYG SS SPDR P S&P 500 Growth ETF | 0.33% | 3,365 | $321K | New |
| XLG Invesco S&P 500 Top 50 ETF | 0.33% | 6,099 | $318K | Add +32.8% |
| THRO iShares U.S. Thematic Rotati | 0.32% | 8,874 | $316K | New |
| CSCO Cisco Systems Inc. | 0.32% | 4,464 | $310K | Reduce -13.6% |
| VONG Vanguard Russell 1000 Growth | 0.32% | 2,819 | $308K | New |
| DASH DoorDash Inc. Class A | 0.31% | 1,236 | $305K | New |
| TMB Thornburg Multi Sector B ETF | 0.31% | 11,770 | $300K | New |
| GS Goldman Sachs Group Inc. | 0.30% | 411 | $291K | Reduce -7.6% |
| TRGP Targa Resources Corp. | 0.30% | 1,667 | $290K | Add +6.9% |
| APH Amphenol Corp. Class A | 0.29% | 2,871 | $284K | New |
| JPIE JPMorgan Income ETF | 0.28% | 5,933 | $275K | New |
| ORCL Oracle Corp. | 0.28% | 1,238 | $271K | New |
| XLE SS Energy Select Sector | 0.27% | 3,149 | $267K | No change |
| MBB iShares MBS ETF | 0.27% | 2,814 | $264K | Add +12.3% |
| NFLX Netflix Inc. | 0.26% | 192 | $257K | New |
| CME Cme Group Inc. | 0.26% | 919 | $253K | Reduce -5.4% |
| CHT Chunghwa Telecom LT-Spon ADR | 0.26% | 5,374 | $250K | New |
| SSO Proshares Ultra S&P500 | 0.25% | 2,499 | $244K | New |
| IAGG iShares Intl Aggregate Bond | 0.24% | 4,493 | $230K | New |
| RY Royal Bank of Canada | 0.23% | 1,732 | $228K | New |
| SPOT Spotify Technology SA | 0.23% | 296 | $227K | New |
| ILCG iShares Morningstar Growth E | 0.23% | 2,339 | $227K | New |
| RTX RTX Corp. | 0.23% | 1,545 | $226K | New |
| JCI Johnson Controls Internation | 0.23% | 2,127 | $225K | New |
| JQUA JPMorgan US Quality Factor | 0.23% | 3,700 | $222K | New |
| COWG Pacer US LRG Cap Cows GR LD | 0.23% | 6,313 | $222K | New |
| PM Philip Morris International | 0.22% | 1,189 | $217K | New |
| KMB Kimberly-Clark Corp. | 0.22% | 1,662 | $214K | New |
| PSX Phillips 66 | 0.22% | 1,787 | $213K | Reduce -26.7% |
| NVS Novartis AG-Sponsored ADR | 0.22% | 1,749 | $212K | New |
| VZ Verizon Communications Inc. | 0.21% | 4,810 | $208K | Reduce -0.4% |
| PH Parker Hannifin Corp. | 0.21% | 293 | $205K | Reduce -12.5% |
| AMGN Amgen Inc. | 0.21% | 732 | $204K | Reduce -7.7% |
| LST Leuthold Sel Ind filed as MANAGED PORTFOLIO SERIES | 0.21% | 5,500 | $202K | New |
Portfolio Sells Q1 2025 → Q2 2025
| RSP Invesco S&P 500 Equal Weight | Sold out | 0.00% | −5.17 |
| XLC SS Comm Select Sector SPDR | Reduce -49.8% | 1.82% | −1.61 |
| PPA Invesco Aerospace & Defense | Sold out | 0.00% | −1.22 |
| XTL SS SPDR S&P Telecom ETF | Sold out | 0.00% | −1.19 |
| ISHP First Trust S-Network E-Comm | Sold out | 0.00% | −1.09 |
| MINT PIMCO Enhanced Short Maturit | Sold out | 0.00% | −1.04 |
| IETC iShares U.S. Tech Independen | Sold out | 0.00% | −1.03 |
| VFH Vanguard Financials ETF | Sold out | 0.00% | −1.03 |
| SCHA Schwab US Small-Cap ETF | Sold out | 0.00% | −0.99 |
| FDN First Trust DJ Internet Ind | Sold out | 0.00% | −0.96 |
| XLY SS Consumer Disc Select Sect | Reduce -52.4% | 0.87% | −0.90 |
| XLV SS Health Care Select Sector | Reduce -41.0% | 0.88% | −0.84 |
| JPST JPMorgan Ultra-Short Income | Sold out | 0.00% | −0.80 |
| AAPL Apple Inc. | Reduce -33.1% | 0.92% | −0.66 |
| GSST Goldman Sachs Ultra Short Bo | Sold out | 0.00% | −0.61 |
| SPYM Ste STR SPDR PT S&P 500 ETF | Reduce -39.8% | 0.98% | −0.58 |
| XLF SS Financial Select Sector | Reduce -20.7% | 1.96% | −0.54 |
| TLT iShares 20+ Year Treasury BD | Sold out | 0.00% | −0.42 |
| CGMS Cap Group US Multi-Sect Bond | Sold out | 0.00% | −0.35 |
| CVX Chevron Corp. | Sold out | 0.00% | −0.34 |
| CLOI Vaneck Clo ETF | Sold out | 0.00% | −0.32 |
| FLBL Franklin Senior Loan ETF | Sold out | 0.00% | −0.31 |
| IWM iShares Russell 2000 ETF | Sold out | 0.00% | −0.27 |
| PEP Pepsico Inc. | Sold out | 0.00% | −0.26 |
| LLY Eli Lilly & Co. | Sold out | 0.00% | −0.26 |
| PG The Procter & Gamble Co. | Sold out | 0.00% | −0.25 |
| EMXC iShares MSCI Emr MRK Ex Chna | Sold out | 0.00% | −0.24 |
| CCL Carnival Corp. | Sold out | 0.00% | −0.24 |
| SILA Sila Realty Trust Inc. | Reduce -9.1% | 0.74% | −0.24 |
| CL Colgate-Palmolive Co. | Sold out | 0.00% | −0.24 |
| ATO Atmos Energy Corp. | Sold out | 0.00% | −0.24 |
| ENFR Alerian Energy Infrastructur | Reduce -10.5% | 1.11% | −0.23 |
| IUSB Ishr CR Unvrse Usd BD ETF-Ui | Reduce -22.1% | 0.63% | −0.23 |
| UVV Universal Corp. | Sold out | 0.00% | −0.23 |
| VNOM Viper Energy Inc. | Sold out | 0.00% | −0.22 |
| EINC Vaneck Energy Income ETF | Reduce -11.5% | 1.00% | −0.22 |
| HYG Ishr Ibx Usd Hiyld CB ETF-Ui | Reduce -26.9% | 0.48% | −0.20 |
| EMLP First Trust North American E | Reduce -11.4% | 0.99% | −0.20 |
| MLPX Global X MLP & Energy Infras | Reduce -10.7% | 0.90% | −0.19 |
| XLI SS Industrial Select Sector | Reduce -19.9% | 1.00% | −0.18 |
| KIE SS SPDR S&P Insurance ETF | Reduce -3.5% | 1.51% | −0.18 |
| VLO Valero Energy Corp. | Reduce -21.0% | 0.38% | −0.12 |
| INGR Ingredion Inc. | Reduce -32.1% | 0.21% | −0.12 |
| IVW iShares S&P 500 Growth ETF | Reduce -23.4% | 0.67% | −0.11 |
| PSX Phillips 66 | Reduce -26.7% | 0.22% | −0.11 |
| SCHZ Schwab US Aggregate Bond ETF | Reduce -15.2% | 0.39% | −0.10 |
| XOM Exxon Mobil Corp. | Reduce -2.9% | 0.42% | −0.09 |
| AMGN Amgen Inc. | Reduce -7.7% | 0.21% | −0.06 |
| SBUX Starbucks Corp. | Reduce -0.7% | 0.34% | −0.05 |
| BKHY BNY Mellon High Yield ETF | Reduce -3.9% | 0.44% | −0.04 |
Portfolio Buys Q1 2025 → Q2 2025
| SPLV Invesco S&P 500 Low Volatili | New | 4.98% | +4.98 |
| SPY SS SPDR S&P 500 ETF Trust-US | Add +113.5% | 7.09% | +3.89 |
| QQQM Invesco Nasdaq 100 ETF | New | 1.53% | +1.53 |
| XLU St Sr Utl SL SE SPDR ETF-Usd | Add +312.4% | 1.30% | +0.98 |
| IVV iShares Core S&P 500 ETF | New | 0.96% | +0.96 |
| FXU First Trust Utilities Alphad | New | 0.96% | +0.96 |
| IAK iShares U.S. Insurance ETF | New | 0.88% | +0.88 |
| SHY iShares 1-3 Year Treasury Bo | New | 0.81% | +0.81 |
| BIL SS SPDR BB 1-3M T-Bill ETF | Add +114.8% | 1.37% | +0.69 |
| NVDA Nvidia Corp. | Add +17.4% | 1.79% | +0.68 |
| ACWV iShares MSCI Global Min Vol | New | 0.52% | +0.52 |
| XLP SS Consumer Staples Sel Sect | Add +72.1% | 1.28% | +0.48 |
| ITOT iShares Core S&P Total U.S. | Add +0.3% | 11.15% | +0.47 |
| FLHY Franklin High Yield Corporat | New | 0.38% | +0.38 |
| FTEC Fidelity MSCI Info Tech Indx | New | 0.37% | +0.37 |
| SPYG SS SPDR P S&P 500 Growth ETF | New | 0.33% | +0.33 |
| THRO iShares U.S. Thematic Rotati | New | 0.32% | +0.32 |
| VONG Vanguard Russell 1000 Growth | New | 0.32% | +0.32 |
| DASH DoorDash Inc. Class A | New | 0.31% | +0.31 |
| TMB Thornburg Multi Sector B ETF | New | 0.31% | +0.31 |
| SCHG Schwab US Large-Cap Growth | Add +32.4% | 0.98% | +0.31 |
| APH Amphenol Corp. Class A | New | 0.29% | +0.29 |
| IYW iShares Ustechnology ETF | Add +5.3% | 1.60% | +0.29 |
| XTEN Bondbloxx BBG 10Y US TSY ETF | Add +116.7% | 0.57% | +0.29 |
| JPIE JPMorgan Income ETF | New | 0.28% | +0.28 |
| ORCL Oracle Corp. | New | 0.28% | +0.28 |
| AVGO Broadcom Inc. | Add +1.1% | 0.74% | +0.27 |
| NFLX Netflix Inc. | New | 0.26% | +0.26 |
| EFV iShares MSCI Eafe Value ETF | Add +48.4% | 0.78% | +0.26 |
| CHT Chunghwa Telecom LT-Spon ADR | New | 0.26% | +0.26 |
| SPMO Invesco S&P 500 Momentum ETF | Add +88.9% | 0.48% | +0.26 |
| IEMG iShares Core MSCI Emerging | Add +95.1% | 0.50% | +0.25 |
| SSO Proshares Ultra S&P500 | New | 0.25% | +0.25 |
| META Meta Platforms Inc. Class A | Add +29.1% | 0.70% | +0.25 |
| IAGG iShares Intl Aggregate Bond | New | 0.24% | +0.24 |
| RY Royal Bank of Canada | New | 0.23% | +0.23 |
| SPOT Spotify Technology SA | New | 0.23% | +0.23 |
| ILCG iShares Morningstar Growth E | New | 0.23% | +0.23 |
| RTX RTX Corp. | New | 0.23% | +0.23 |
| JCI Johnson Controls Internation | New | 0.23% | +0.23 |
| JQUA JPMorgan US Quality Factor | New | 0.23% | +0.23 |
| COWG Pacer US LRG Cap Cows GR LD | New | 0.23% | +0.23 |
| GEV GE Vernova Inc. | Add +10.1% | 0.51% | +0.23 |
| PM Philip Morris International | New | 0.22% | +0.22 |
| KMB Kimberly-Clark Corp. | New | 0.22% | +0.22 |
| NVS Novartis AG-Sponsored ADR | New | 0.22% | +0.22 |
| LST Leuthold Sel Ind | New | 0.21% | +0.21 |
| SCHB Schwab US Broad Market ETF | Add +19.4% | 1.02% | +0.20 |
| AMZN Amazon.com Inc. | Add +11.0% | 0.88% | +0.15 |
| MSFT Microsoft Corp. | Add +23.1% | 0.43% | +0.15 |
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 |