Fulcrum Equity Management
In its 13F for Q3 2025 (holdings as of September 30, 2025, filed January 6, 2026), Fulcrum Equity Management reported 94 stock positions worth $98.7 million. Its top holding was iShares Core S&P Total U.S. (ITOT) at 11.7% of the portfolio, followed by SS SPDR S&P 500 ETF Trust-US (SPY, 9.1%) and iShares MSCI World ETF (URTH, 8.5%). Compared with Q2 2025, it opened 25 new positions, sold out of 33, added to 40 and reduced 21. The biggest buy was SS SPDR S&P 500 ETF Trust-US (SPY, shares +21%) and the biggest sale an exit from Invesco S&P 500 Low Volatili (SPLV).
- Most Recent 13F
- Q2 2026
- Location
- PLANO, TX
- CIK
- 0001737888
- Portfolio Value
- $98.7M (Q3 2025)
- SEC Filing
- 0001737888-26-000001 ↗ filed Jan 6, 2026
Holdings Value
Holdings 94 stocks · $98.7M
| ITOT iShares Core S&P Total U.S. | 11.68% | 79,152 | $11.5M | Reduce -1.6% |
| SPY SS SPDR S&P 500 ETF Trust-US | 9.09% | 13,469 | $9.0M | Add +20.5% |
| URTH iShares MSCI World ETF | 8.49% | 46,192 | $8.4M | No change |
| XLK SS Technology Select Sector | 6.03% | 21,113 | $6.0M | Add +13.9% |
| OKE Oneok Inc. | 3.70% | 50,022 | $3.7M | Add +1.6% |
| IYW iShares Ustechnology ETF | 2.58% | 13,022 | $2.6M | Add +45.3% |
| NVDA Nvidia Corp. | 2.41% | 12,733 | $2.4M | Add +15.6% |
| XLC SS Comm Select Sector SPDR | 2.40% | 19,995 | $2.4M | Add +22.2% |
| BRK.B Berkshire Hathaway Inc. Class B | 2.23% | 4,389 | $2.2M | Reduce -0.7% |
| XLF SS Financial Select Sector | 1.97% | 36,021 | $1.9M | Reduce -1.2% |
| XLY SS Consumer Disc Select Sect | 1.76% | 7,231 | $1.7M | Add +85.4% |
| QQQM Invesco Nasdaq 100 ETF | 1.65% | 6,584 | $1.6M | Add +0.5% |
| WMT Walmart Inc. | 1.64% | 15,727 | $1.6M | Add +0.2% |
| XLI SS Industrial Select Sector | 1.55% | 9,914 | $1.5M | Add +50.6% |
| DYNF Ishrs US E F R A ETF-Usd Inc. | 1.32% | 21,966 | $1.3M | Add +68.6% |
| AAPL Apple Inc. | 1.22% | 4,727 | $1.2M | Add +8.2% |
| SPYM Ste STR SPDR PT S&P 500 ETF | 1.19% | 15,022 | $1.2M | Add +14.6% |
| SCHB Schwab US Broad Market ETF | 1.10% | 42,121 | $1.1M | Add +0.8% |
| SCHG Schwab US Large-Cap Growth | 1.07% | 33,107 | $1.1M | Add +0.9% |
| PKB Invesco Building & Construct | 1.05% | 10,862 | $1.0M | New |
| IVV iShares Core S&P 500 ETF | 1.04% | 1,533 | $1.0M | Add +1.4% |
| ITA iShares U.S. Aerospace & Def | 0.96% | 4,553 | $953K | New |
| PPA Invesco Aerospace & Defense | 0.96% | 6,126 | $952K | New |
| ROKT SS SPDR S&P Kensho FF ETF | 0.96% | 12,461 | $950K | New |
| AIRR First Trust Rba American Ind | 0.95% | 9,694 | $937K | New |
| XTL SS SPDR S&P Telecom ETF | 0.94% | 6,665 | $933K | New |
| XLV SS Health Care Select Sector | 0.89% | 6,324 | $880K | Reduce -0.3% |
| QUAL iShares MSCI USA Quality Fac | 0.88% | 4,491 | $873K | Add +0.7% |
| LOW Lowe's Cos Inc. | 0.88% | 3,457 | $869K | Add +0.5% |
| GGME Invesco Next Gen Media and G | 0.88% | 13,482 | $868K | New |
| INNOVATOR IBD 50 ETF | 0.87% | 23,018 | $860K | New |
| AMZN Amazon.com Inc. | 0.82% | 3,698 | $812K | Reduce -5.3% |
| IPO Renaissance Ipo ETF | 0.82% | 16,342 | $810K | New |
| XLG Invesco S&P 500 Top 50 ETF | 0.81% | 13,868 | $798K | Add +127.4% |
| SILA Sila Realty Trust Inc. | 0.78% | 30,548 | $767K | Add +0.4% |
| IVW iShares S&P 500 Growth ETF | 0.76% | 6,236 | $753K | Add +5.7% |
| GOOGL Alphabet Inc. Class A | 0.70% | 2,861 | $696K | Add +8.7% |
| IVE iShares S&P 500 Value ETF | 0.69% | 3,297 | $681K | Add +11.6% |
| META Meta Platforms Inc. Class A | 0.67% | 900 | $661K | Reduce -2.0% |
| XTEN Bondbloxx BBG 10Y US TSY ETF | 0.66% | 13,998 | $653K | Add +15.9% |
| XLU St Sr Utl SL SE SPDR ETF-Usd | 0.66% | 7,438 | $649K | Reduce -52.1% |
| TSLA Tesla Inc. | 0.63% | 1,404 | $624K | Reduce -8.3% |
| EFV iShares MSCI Eafe Value ETF | 0.63% | 9,161 | $621K | Reduce -23.4% |
| GEV GE Vernova Inc. | 0.59% | 954 | $587K | Add +1.4% |
| AVGO Broadcom Inc. | 0.54% | 1,629 | $537K | Reduce -38.0% |
| ASML ASML Holding NV-NY Reg SHS | 0.54% | 550 | $532K | New |
| IUSB Ishr CR Unvrse Usd BD ETF-Ui | 0.52% | 11,076 | $517K | Reduce -16.8% |
| IEMG iShares Core MSCI Emerging | 0.52% | 7,809 | $515K | Reduce -3.6% |
| SPMO Invesco S&P 500 Momentum ETF | 0.52% | 4,239 | $513K | Add +3.0% |
| MSFT Microsoft Corp. | 0.50% | 958 | $496K | Add +14.6% |
| DUK Duke Energy Corp. | 0.49% | 3,919 | $485K | Add +0.7% |
| JPM JPMorgan Chase & Co. | 0.48% | 1,499 | $473K | Reduce -2.0% |
| ABBV Abbvie Inc. | 0.46% | 1,940 | $449K | Reduce -43.6% |
| FTEC Fidelity MSCI Info Tech Indx | 0.44% | 1,959 | $435K | Add +7.4% |
| SCHZ Schwab US Aggregate Bond ETF | 0.44% | 18,547 | $435K | Add +13.5% |
| XOM Exxon Mobil Corp. | 0.44% | 3,818 | $430K | Add +0.1% |
| KHPI Kensington Hedged PRM in ETF filed as MANAGED PORTFOLIO SERIES | 0.43% | 16,603 | $424K | Add +10.7% |
| AHR American Healthcare REIT Inc. | 0.42% | 9,905 | $416K | No change |
| THRO iShares U.S. Thematic Rotati | 0.41% | 10,745 | $407K | Add +21.1% |
| DASH DoorDash Inc. Class A | 0.39% | 1,406 | $382K | Add +13.8% |
| BAI Ishrs AI in and Tech Act ETF | 0.39% | 11,184 | $382K | New |
| SPYG SS SPDR P S&P 500 Growth ETF | 0.36% | 3,414 | $357K | Add +1.5% |
| COST Costco Wholesale Corp. | 0.36% | 383 | $355K | Reduce -14.7% |
| ORCL Oracle Corp. | 0.35% | 1,242 | $349K | Add +0.3% |
| VONG Vanguard Russell 1000 Growth | 0.35% | 2,875 | $346K | Add +2.0% |
| APH Amphenol Corp. Class A | 0.34% | 2,752 | $341K | Reduce -4.1% |
| GS Goldman Sachs Group Inc. | 0.33% | 411 | $327K | No change |
| NVO Novo-Nordisk A/S-Spons ADR | 0.32% | 5,770 | $320K | New |
| LLY Eli Lilly & Co. | 0.31% | 398 | $303K | New |
| MBB iShares MBS ETF | 0.31% | 3,167 | $301K | Add +12.5% |
| ACWI iShares MSCI Acwi ETF | 0.30% | 2,115 | $292K | New |
| PLTR Palantir Technologies Inc. Class A | 0.29% | 1,588 | $290K | New |
| GLDM SPDR Gold Minishares Trust | 0.29% | 3,702 | $283K | New |
| XLE SS Energy Select Sector | 0.28% | 3,094 | $276K | Reduce -1.8% |
| IAGG iShares Intl Aggregate Bond | 0.28% | 5,310 | $272K | Add +18.2% |
| ILCG iShares Morningstar Growth E | 0.27% | 2,582 | $269K | Add +10.4% |
| RY Royal Bank of Canada | 0.26% | 1,732 | $255K | No change |
| IWC iShares Micro-Cap ETF | 0.25% | 1,647 | $246K | New |
| RECS Columbia Resear Enh Cor ETF | 0.25% | 6,059 | $244K | New |
| CHT Chunghwa Telecom LT-Spon ADR | 0.24% | 5,374 | $234K | No change |
| JCI Johnson Controls Internation | 0.24% | 2,127 | $234K | No change |
| ANET Arista Networks Inc. | 0.23% | 1,586 | $231K | New |
| HSBC HSBC Holdings PLC-Spons ADR filed as HSBC HLDGS PLC | 0.23% | 3,253 | $231K | New |
| NFLX Netflix Inc. | 0.23% | 190 | $228K | Reduce -1.0% |
| NVS Novartis AG-Sponsored ADR | 0.23% | 1,749 | $224K | No change |
| GE General Electric filed as GE AEROSPACE | 0.22% | 734 | $221K | New |
| BN Brookfield Corp. | 0.22% | 3,198 | $219K | New |
| BIL SS SPDR BB 1-3M T-Bill ETF | 0.22% | 2,333 | $214K | Reduce -83.9% |
| ENB Enbridge Inc. | 0.21% | 4,157 | $210K | New |
| VZ Verizon Communications Inc. | 0.21% | 4,691 | $206K | Reduce -2.5% |
| SPOT Spotify Technology SA | 0.21% | 294 | $205K | Reduce -0.7% |
| SAN Banco Santander SA-Spon ADR | 0.16% | 14,967 | $157K | No change |
| AUPH Aurinia Pharmaceuticals Inc. | 0.12% | 10,377 | $115K | New |
| BITF Bitfarms Ltd./Canada | 0.03% | 11,513 | $32K | New |
Portfolio Sells Q2 2025 → Q3 2025
| SPLV Invesco S&P 500 Low Volatili | Sold out | 0.00% | −4.98 |
| KIE SS SPDR S&P Insurance ETF | Sold out | 0.00% | −1.51 |
| XLP SS Consumer Staples Sel Sect | Sold out | 0.00% | −1.28 |
| BIL SS SPDR BB 1-3M T-Bill ETF | Reduce -83.9% | 0.22% | −1.15 |
| ENFR Alerian Energy Infrastructur | Sold out | 0.00% | −1.11 |
| EINC Vaneck Energy Income ETF | Sold out | 0.00% | −1.00 |
| EMLP First Trust North American E | Sold out | 0.00% | −0.99 |
| FXU First Trust Utilities Alphad | Sold out | 0.00% | −0.96 |
| MLPX Global X MLP & Energy Infras | Sold out | 0.00% | −0.90 |
| IAK iShares U.S. Insurance ETF | Sold out | 0.00% | −0.88 |
| SHY iShares 1-3 Year Treasury Bo | Sold out | 0.00% | −0.81 |
| XLU St Sr Utl SL SE SPDR ETF-Usd | Reduce -52.1% | 0.66% | −0.65 |
| ACWV iShares MSCI Global Min Vol | Sold out | 0.00% | −0.52 |
| HYG Ishr Ibx Usd Hiyld CB ETF-Ui | Sold out | 0.00% | −0.48 |
| BKHY BNY Mellon High Yield ETF | Sold out | 0.00% | −0.44 |
| FLHY Franklin High Yield Corporat | Sold out | 0.00% | −0.38 |
| VLO Valero Energy Corp. | Sold out | 0.00% | −0.38 |
| EFG iShares MSCI Eafe Growth ETF | Sold out | 0.00% | −0.34 |
| SBUX Starbucks Corp. | Sold out | 0.00% | −0.34 |
| CSCO Cisco Systems Inc. | Sold out | 0.00% | −0.32 |
| TMB Thornburg Multi Sector B ETF | Sold out | 0.00% | −0.31 |
| TRGP Targa Resources Corp. | Sold out | 0.00% | −0.30 |
| JPIE JPMorgan Income ETF | Sold out | 0.00% | −0.28 |
| CME Cme Group Inc. | Sold out | 0.00% | −0.26 |
| SSO Proshares Ultra S&P500 | Sold out | 0.00% | −0.25 |
| RTX RTX Corp. | Sold out | 0.00% | −0.23 |
| JQUA JPMorgan US Quality Factor | Sold out | 0.00% | −0.23 |
| COWG Pacer US LRG Cap Cows GR LD | Sold out | 0.00% | −0.23 |
| PM Philip Morris International | Sold out | 0.00% | −0.22 |
| KMB Kimberly-Clark Corp. | Sold out | 0.00% | −0.22 |
| PSX Phillips 66 | Sold out | 0.00% | −0.22 |
| PH Parker Hannifin Corp. | Sold out | 0.00% | −0.21 |
| AMGN Amgen Inc. | Sold out | 0.00% | −0.21 |
| LST Leuthold Sel Ind | Sold out | 0.00% | −0.21 |
| INGR Ingredion Inc. | Sold out | 0.00% | −0.21 |
| ABBV Abbvie Inc. | Reduce -43.6% | 0.46% | −0.20 |
| AVGO Broadcom Inc. | Reduce -38.0% | 0.54% | −0.20 |
| EFV iShares MSCI Eafe Value ETF | Reduce -23.4% | 0.63% | −0.15 |
| IUSB Ishr CR Unvrse Usd BD ETF-Ui | Reduce -16.8% | 0.52% | −0.11 |
| COST Costco Wholesale Corp. | Reduce -14.7% | 0.36% | −0.10 |
| AMZN Amazon.com Inc. | Reduce -5.3% | 0.82% | −0.06 |
| NFLX Netflix Inc. | Reduce -1.0% | 0.23% | −0.03 |
| META Meta Platforms Inc. Class A | Reduce -2.0% | 0.67% | −0.03 |
| SPOT Spotify Technology SA | Reduce -0.7% | 0.21% | −0.03 |
| VZ Verizon Communications Inc. | Reduce -2.5% | 0.21% | −0.00 |
| XLF SS Financial Select Sector | Reduce -1.2% | 1.97% | +0.00 |
| XLE SS Energy Select Sector | Reduce -1.8% | 0.28% | +0.01 |
| XLV SS Health Care Select Sector | Reduce -0.3% | 0.89% | +0.01 |
| IEMG iShares Core MSCI Emerging | Reduce -3.6% | 0.52% | +0.02 |
| JPM JPMorgan Chase & Co. | Reduce -2.0% | 0.48% | +0.02 |
Portfolio Buys Q2 2025 → Q3 2025
| SPY SS SPDR S&P 500 ETF Trust-US | Add +20.5% | 9.09% | +2.00 |
| XLK SS Technology Select Sector | Add +13.9% | 6.03% | +1.21 |
| PKB Invesco Building & Construct | New | 1.05% | +1.05 |
| IYW iShares Ustechnology ETF | Add +45.3% | 2.58% | +0.99 |
| ITA iShares U.S. Aerospace & Def | New | 0.96% | +0.96 |
| PPA Invesco Aerospace & Defense | New | 0.96% | +0.96 |
| ROKT SS SPDR S&P Kensho FF ETF | New | 0.96% | +0.96 |
| AIRR First Trust Rba American Ind | New | 0.95% | +0.95 |
| XTL SS SPDR S&P Telecom ETF | New | 0.94% | +0.94 |
| XLY SS Consumer Disc Select Sect | Add +85.4% | 1.76% | +0.88 |
| GGME Invesco Next Gen Media and G | New | 0.88% | +0.88 |
| INNOVATOR IBD 50 ETF | New | 0.87% | +0.87 |
| IPO Renaissance Ipo ETF | New | 0.82% | +0.82 |
| NVDA Nvidia Corp. | Add +15.6% | 2.41% | +0.62 |
| DYNF Ishrs US E F R A ETF-Usd Inc. | Add +68.6% | 1.32% | +0.59 |
| XLC SS Comm Select Sector SPDR | Add +22.2% | 2.40% | +0.57 |
| XLI SS Industrial Select Sector | Add +50.6% | 1.55% | +0.55 |
| ASML ASML Holding NV-NY Reg SHS | New | 0.54% | +0.54 |
| XLG Invesco S&P 500 Top 50 ETF | Add +127.4% | 0.81% | +0.48 |
| BAI Ishrs AI in and Tech Act ETF | New | 0.39% | +0.39 |
| NVO Novo-Nordisk A/S-Spons ADR | New | 0.32% | +0.32 |
| LLY Eli Lilly & Co. | New | 0.31% | +0.31 |
| AAPL Apple Inc. | Add +8.2% | 1.22% | +0.30 |
| ACWI iShares MSCI Acwi ETF | New | 0.30% | +0.30 |
| PLTR Palantir Technologies Inc. Class A | New | 0.29% | +0.29 |
| GLDM SPDR Gold Minishares Trust | New | 0.29% | +0.29 |
| IWC iShares Micro-Cap ETF | New | 0.25% | +0.25 |
| RECS Columbia Resear Enh Cor ETF | New | 0.25% | +0.25 |
| ANET Arista Networks Inc. | New | 0.23% | +0.23 |
| HSBC HSBC Holdings PLC-Spons ADR | New | 0.23% | +0.23 |
| GOOGL Alphabet Inc. Class A | Add +8.7% | 0.70% | +0.23 |
| GE General Electric | New | 0.22% | +0.22 |
| BN Brookfield Corp. | New | 0.22% | +0.22 |
| SPYM Ste STR SPDR PT S&P 500 ETF | Add +14.6% | 1.19% | +0.21 |
| ENB Enbridge Inc. | New | 0.21% | +0.21 |
| QQQM Invesco Nasdaq 100 ETF | Add +0.5% | 1.65% | +0.12 |
| AUPH Aurinia Pharmaceuticals Inc. | New | 0.12% | +0.12 |
| IVE iShares S&P 500 Value ETF | Add +11.6% | 0.69% | +0.10 |
| LOW Lowe's Cos Inc. | Add +0.5% | 0.88% | +0.10 |
| IVW iShares S&P 500 Growth ETF | Add +5.7% | 0.76% | +0.10 |
| XTEN Bondbloxx BBG 10Y US TSY ETF | Add +15.9% | 0.66% | +0.09 |
| THRO iShares U.S. Thematic Rotati | Add +21.1% | 0.41% | +0.09 |
| SCHG Schwab US Large-Cap Growth | Add +0.9% | 1.07% | +0.09 |
| GEV GE Vernova Inc. | Add +1.4% | 0.59% | +0.08 |
| ORCL Oracle Corp. | Add +0.3% | 0.35% | +0.08 |
| MSFT Microsoft Corp. | Add +14.6% | 0.50% | +0.08 |
| IVV iShares Core S&P 500 ETF | Add +1.4% | 1.04% | +0.08 |
| DASH DoorDash Inc. Class A | Add +13.8% | 0.39% | +0.07 |
| SCHB Schwab US Broad Market ETF | Add +0.8% | 1.10% | +0.07 |
| FTEC Fidelity MSCI Info Tech Indx | Add +7.4% | 0.44% | +0.07 |
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 |