Fulcrum Equity Management
In its 13F for Q4 2025 (holdings as of December 31, 2025, filed January 6, 2026), Fulcrum Equity Management reported 117 stock positions worth $104.5 million. Its top holding was iShares Core S&P Total U.S. (ITOT) at 11.1% of the portfolio, followed by iShares MSCI World ETF (URTH, 8.2%) and SS Technology Select Sector (XLK, 5.6%). Compared with Q3 2025, it opened 34 new positions, sold out of 11, added to 46 and reduced 33. The biggest buy was Nvidia (NVDA, shares +66%) and the biggest sale SS SPDR S&P 500 ETF Trust-US (SPY, shares −91%).
- Most Recent 13F
- Q2 2026
- Location
- PLANO, TX
- CIK
- 0001737888
- Portfolio Value
- $104.5M (Q4 2025)
- SEC Filing
- 0001737888-26-000003 ↗ filed Jan 6, 2026
Holdings Value
Holdings 117 stocks · $104.5M
| ITOT iShares Core S&P Total U.S. | 11.05% | 77,685 | $11.6M | Reduce -1.9% |
| URTH iShares MSCI World ETF | 8.21% | 46,192 | $8.6M | No change |
| XLK SS Technology Select Sector | 5.58% | 40,465 | $5.8M | Reduce -4.2% |
| NVDA Nvidia Corp. | 3.77% | 21,109 | $3.9M | Add +65.8% |
| OKE Oneok Inc. | 3.58% | 50,889 | $3.7M | Add +1.7% |
| AAPL Apple Inc. | 2.39% | 9,168 | $2.5M | Add +94.0% |
| XLC SS Comm Select Sector SPDR | 2.18% | 19,313 | $2.3M | Reduce -3.4% |
| XLF SS Financial Select Sector | 2.01% | 38,363 | $2.1M | Add +6.5% |
| BRK.B Berkshire Hathaway Inc. Class B | 1.94% | 4,031 | $2.0M | Reduce -8.2% |
| WMT Walmart Inc. | 1.79% | 16,775 | $1.9M | Add +6.7% |
| GOOGL Alphabet Inc. Class A | 1.74% | 5,797 | $1.8M | Add +102.6% |
| IYW iShares Ustechnology ETF | 1.67% | 8,744 | $1.7M | Reduce -32.9% |
| MSFT Microsoft Corp. | 1.65% | 3,568 | $1.7M | Add +272.4% |
| QQQM Invesco Nasdaq 100 ETF | 1.65% | 6,804 | $1.7M | Add +3.3% |
| XLY SS Consumer Disc Select Sect | 1.63% | 14,251 | $1.7M | Reduce -1.5% |
| XLV SS Health Care Select Sector | 1.59% | 10,717 | $1.7M | Add +69.5% |
| AMZN Amazon.com Inc. | 1.57% | 7,126 | $1.6M | Add +92.7% |
| DYNF Ishrs US E F R A ETF-Usd Inc. | 1.18% | 20,291 | $1.2M | Reduce -7.6% |
| META Meta Platforms Inc. Class A | 1.17% | 1,846 | $1.2M | Add +105.1% |
| SPYM Ste STR SPDR PT S&P 500 ETF | 1.13% | 14,758 | $1.2M | Reduce -1.8% |
| JPM JPMorgan Chase & Co. | 1.13% | 3,674 | $1.2M | Add +145.1% |
| TSLA Tesla Inc. | 1.08% | 2,504 | $1.1M | Add +78.3% |
| SCHB Schwab US Broad Market ETF | 1.05% | 42,025 | $1.1M | Reduce -0.2% |
| AVGO Broadcom Inc. | 1.01% | 3,059 | $1.1M | Add +87.8% |
| XLG Invesco S&P 500 Top 50 ETF | 1.01% | 17,832 | $1.1M | Add +28.6% |
| XLI SS Industrial Select Sector | 0.99% | 6,687 | $1.0M | Reduce -32.5% |
| IVE iShares S&P 500 Value ETF | 0.96% | 4,747 | $1.0M | Add +44.0% |
| IVV iShares Core S&P 500 ETF | 0.92% | 1,396 | $956K | Reduce -8.9% |
| GRNY Fundstr Gran SH US LRG Cap | 0.90% | 37,968 | $940K | New |
| SCHG Schwab US Large-Cap Growth | 0.85% | 27,245 | $889K | Reduce -17.7% |
| LOW Lowe's Cos Inc. | 0.81% | 3,526 | $850K | Add +2.0% |
| XLU St Sr Utl SL SE SPDR ETF-Usd | 0.81% | 19,910 | $850K | Add +33.8% |
| LLY Eli Lilly & Co. | 0.79% | 764 | $821K | Add +92.0% |
| FTEC Fidelity MSCI Info Tech Indx | 0.76% | 3,547 | $797K | Add +81.1% |
| SPY SS SPDR S&P 500 ETF Trust-US | 0.76% | 1,159 | $790K | Reduce -91.4% |
| IVW iShares S&P 500 Growth ETF | 0.71% | 6,038 | $744K | Reduce -3.2% |
| SILA Sila Realty Trust Inc. | 0.68% | 30,677 | $715K | Add +0.4% |
| ASML ASML Holding NV-NY Reg SHS | 0.65% | 633 | $677K | Add +15.1% |
| EFV iShares MSCI Eafe Value ETF | 0.61% | 8,995 | $642K | Reduce -1.8% |
| GEV GE Vernova Inc. | 0.61% | 968 | $633K | Add +1.5% |
| KAMO Kensington Credit Opport ETF filed as MANAGED PORTFOLIO SERIES | 0.60% | 25,065 | $627K | New |
| GS Goldman Sachs Group Inc. | 0.58% | 688 | $605K | Add +67.4% |
| SLV iShares Silver Trust | 0.57% | 9,258 | $596K | New |
| SIVR Abrdn Physical Silver Shares | 0.56% | 8,700 | $588K | New |
| REMX Vaneck Rar Earth ND STG-Usdi | 0.54% | 7,680 | $568K | New |
| APH Amphenol Corp. Class A | 0.54% | 4,137 | $559K | Add +50.3% |
| IUSB Ishr CR Unvrse Usd BD ETF-Ui | 0.52% | 11,581 | $539K | Add +4.6% |
| XTEN Bondbloxx BBG 10Y US TSY ETF | 0.50% | 11,333 | $524K | Reduce -19.0% |
| COST Costco Wholesale Corp. | 0.50% | 603 | $520K | Add +57.4% |
| XOM Exxon Mobil Corp. | 0.49% | 4,242 | $510K | Add +11.1% |
| IWC iShares Micro-Cap ETF | 0.49% | 3,226 | $509K | Add +95.9% |
| GLTR Abrdn Precious Metals Basket | 0.48% | 2,425 | $499K | New |
| IEMG iShares Core MSCI Emerging | 0.46% | 7,123 | $479K | Reduce -8.8% |
| AHR American Healthcare REIT Inc. | 0.45% | 9,905 | $466K | No change |
| DUK Duke Energy Corp. | 0.44% | 3,947 | $463K | Add +0.7% |
| KHPI Kensington Hedged PRM in ETF filed as MANAGED PORTFOLIO SERIES | 0.41% | 16,839 | $432K | Add +1.4% |
| PLTR Palantir Technologies Inc. Class A | 0.41% | 2,393 | $425K | Add +50.7% |
| SCHZ Schwab US Aggregate Bond ETF | 0.40% | 18,077 | $422K | Reduce -2.5% |
| V Visa Inc. Class A | 0.39% | 1,165 | $409K | New |
| ANET Arista Networks Inc. | 0.38% | 3,061 | $401K | Add +93.0% |
| NFLX Netflix Inc. | 0.38% | 4,277 | $401K | Add +125.1% |
| SBIO Alps Medical Breakthroughs | 0.37% | 7,498 | $384K | New |
| THRO iShares U.S. Thematic Rotati | 0.36% | 9,831 | $379K | Reduce -8.5% |
| BAI Ishrs AI in and Tech Act ETF | 0.36% | 11,375 | $379K | Add +1.7% |
| ORCL Oracle Corp. | 0.36% | 1,938 | $378K | Add +56.0% |
| QUAL iShares MSCI USA Quality Fac | 0.36% | 1,890 | $375K | Reduce -57.9% |
| SPMO Invesco S&P 500 Momentum ETF | 0.36% | 3,146 | $375K | Reduce -25.8% |
| IAU iShares Gold Trust | 0.35% | 4,466 | $363K | New |
| SPYG SS SPDR P S&P 500 Growth ETF | 0.34% | 3,375 | $360K | Reduce -1.1% |
| GE General Electric filed as GE AEROSPACE | 0.34% | 1,152 | $355K | Add +57.0% |
| GLD SPDR Gold Shares | 0.34% | 895 | $355K | New |
| VONG Vanguard Russell 1000 Growth | 0.34% | 2,891 | $352K | Add +0.6% |
| AVEM Avantis Emerging Markets Eq | 0.33% | 4,531 | $349K | New |
| PKB Invesco Building & Construct | 0.33% | 3,716 | $344K | Reduce -65.8% |
| FTXL First Trust Nasdaq Semicondu | 0.33% | 2,652 | $344K | New |
| XBI SS SPDR S&P Biotech ETF | 0.32% | 2,741 | $334K | New |
| BBP Virtus Biotech ETF-Usd Inc. | 0.32% | 4,152 | $332K | New |
| AIRR First Trust Rba American Ind | 0.31% | 3,283 | $323K | Reduce -66.1% |
| JCI Johnson Controls Internation | 0.30% | 2,651 | $317K | Add +24.6% |
| FYC First Trust Small Cap Growth | 0.30% | 3,274 | $315K | New |
| DASH DoorDash Inc. Class A | 0.30% | 1,386 | $314K | Reduce -1.4% |
| PPA Invesco Aerospace & Defense | 0.30% | 1,983 | $311K | Reduce -67.6% |
| PSI Invesco Semiconductors ETF | 0.30% | 3,937 | $310K | New |
| RY Royal Bank of Canada | 0.30% | 1,821 | $310K | Add +5.1% |
| ITA iShares U.S. Aerospace & Def | 0.29% | 1,433 | $308K | Reduce -68.5% |
| KNCT Invesco Next Gen Connectivit | 0.29% | 2,272 | $304K | New |
| ABBV Abbvie Inc. | 0.29% | 1,311 | $300K | Reduce -32.4% |
| TSM Taiwan Semiconductor-SP ADR | 0.29% | 982 | $298K | New |
| MBB iShares MBS ETF | 0.28% | 3,081 | $293K | Reduce -2.7% |
| GLDM SPDR Gold Minishares Trust | 0.26% | 3,233 | $276K | Reduce -12.7% |
| KO The Coca-Cola Co. | 0.26% | 3,872 | $271K | New |
| MA Mastercard Inc. Class A | 0.25% | 465 | $265K | New |
| HSBC HSBC Holdings PLC-Spons ADR filed as HSBC HLDGS PLC | 0.25% | 3,352 | $264K | Add +3.0% |
| ILCG iShares Morningstar Growth E | 0.25% | 2,530 | $263K | Reduce -2.0% |
| IAGG iShares Intl Aggregate Bond | 0.25% | 5,193 | $260K | Reduce -2.2% |
| CSD Invesco S&P Spin-Off ETF | 0.25% | 2,596 | $259K | New |
| GURU Global X Guru Index ETF | 0.25% | 4,131 | $258K | New |
| AMAT Applied Materials Inc. | 0.25% | 1,004 | $258K | New |
| VLUE iShares MSCI USA Value Facto | 0.24% | 1,857 | $254K | New |
| NVS Novartis AG-Sponsored ADR | 0.24% | 1,805 | $249K | Add +3.2% |
Portfolio Sells Q3 2025 → Q4 2025
| SPY SS SPDR S&P 500 ETF Trust-US | Reduce -91.4% | 0.76% | −8.33 |
| ROKT SS SPDR S&P Kensho FF ETF | Sold out | 0.00% | −0.96 |
| XTL SS SPDR S&P Telecom ETF | Sold out | 0.00% | −0.94 |
| IYW iShares Ustechnology ETF | Reduce -32.9% | 1.67% | −0.91 |
| GGME Invesco Next Gen Media and G | Sold out | 0.00% | −0.88 |
| INNOVATOR IBD 50 ETF | Sold out | 0.00% | −0.87 |
| IPO Renaissance Ipo ETF | Sold out | 0.00% | −0.82 |
| PKB Invesco Building & Construct | Reduce -65.8% | 0.33% | −0.72 |
| ITA iShares U.S. Aerospace & Def | Reduce -68.5% | 0.29% | −0.67 |
| PPA Invesco Aerospace & Defense | Reduce -67.6% | 0.30% | −0.67 |
| AIRR First Trust Rba American Ind | Reduce -66.1% | 0.31% | −0.64 |
| ITOT iShares Core S&P Total U.S. | Reduce -1.9% | 11.05% | −0.62 |
| XLI SS Industrial Select Sector | Reduce -32.5% | 0.99% | −0.56 |
| QUAL iShares MSCI USA Quality Fac | Reduce -57.9% | 0.36% | −0.53 |
| XLK SS Technology Select Sector | Reduce -4.2% | 5.58% | −0.45 |
| ACWI iShares MSCI Acwi ETF | Sold out | 0.00% | −0.30 |
| BRK.B Berkshire Hathaway Inc. Class B | Reduce -8.2% | 1.94% | −0.30 |
| XLE SS Energy Select Sector | Sold out | 0.00% | −0.28 |
| RECS Columbia Resear Enh Cor ETF | Sold out | 0.00% | −0.25 |
| XLC SS Comm Select Sector SPDR | Reduce -3.4% | 2.18% | −0.22 |
| SCHG Schwab US Large-Cap Growth | Reduce -17.7% | 0.85% | −0.22 |
| BIL SS SPDR BB 1-3M T-Bill ETF | Sold out | 0.00% | −0.22 |
| SPOT Spotify Technology SA | Sold out | 0.00% | −0.21 |
| ABBV Abbvie Inc. | Reduce -32.4% | 0.29% | −0.17 |
| SPMO Invesco S&P 500 Momentum ETF | Reduce -25.8% | 0.36% | −0.16 |
| XTEN Bondbloxx BBG 10Y US TSY ETF | Reduce -19.0% | 0.50% | −0.16 |
| DYNF Ishrs US E F R A ETF-Usd Inc. | Reduce -7.6% | 1.18% | −0.14 |
| XLY SS Consumer Disc Select Sect | Reduce -1.5% | 1.63% | −0.13 |
| IVV iShares Core S&P 500 ETF | Reduce -8.9% | 0.92% | −0.12 |
| AUPH Aurinia Pharmaceuticals Inc. | Sold out | 0.00% | −0.12 |
| NVO Novo-Nordisk A/S-Spons ADR | Reduce -17.9% | 0.23% | −0.09 |
| DASH DoorDash Inc. Class A | Reduce -1.4% | 0.30% | −0.09 |
| IEMG iShares Core MSCI Emerging | Reduce -8.8% | 0.46% | −0.06 |
| SPYM Ste STR SPDR PT S&P 500 ETF | Reduce -1.8% | 1.13% | −0.06 |
| IVW iShares S&P 500 Growth ETF | Reduce -3.2% | 0.71% | −0.05 |
| THRO iShares U.S. Thematic Rotati | Reduce -8.5% | 0.36% | −0.05 |
| SCHB Schwab US Broad Market ETF | Reduce -0.2% | 1.05% | −0.04 |
| SCHZ Schwab US Aggregate Bond ETF | Reduce -2.5% | 0.40% | −0.04 |
| IAGG iShares Intl Aggregate Bond | Reduce -2.2% | 0.25% | −0.03 |
| MBB iShares MBS ETF | Reduce -2.7% | 0.28% | −0.02 |
| GLDM SPDR Gold Minishares Trust | Reduce -12.7% | 0.26% | −0.02 |
| ILCG iShares Morningstar Growth E | Reduce -2.0% | 0.25% | −0.02 |
| SPYG SS SPDR P S&P 500 Growth ETF | Reduce -1.1% | 0.34% | −0.02 |
| EFV iShares MSCI Eafe Value ETF | Reduce -1.8% | 0.61% | −0.01 |
Portfolio Buys Q3 2025 → Q4 2025
| NVDA Nvidia Corp. | Add +65.8% | 3.77% | +1.36 |
| AAPL Apple Inc. | Add +94.0% | 2.39% | +1.17 |
| MSFT Microsoft Corp. | Add +272.4% | 1.65% | +1.15 |
| GOOGL Alphabet Inc. Class A | Add +102.6% | 1.74% | +1.03 |
| GRNY Fundstr Gran SH US LRG Cap | New | 0.90% | +0.90 |
| AMZN Amazon.com Inc. | Add +92.7% | 1.57% | +0.75 |
| XLV SS Health Care Select Sector | Add +69.5% | 1.59% | +0.70 |
| JPM JPMorgan Chase & Co. | Add +145.1% | 1.13% | +0.65 |
| KAMO Kensington Credit Opport ETF | New | 0.60% | +0.60 |
| SLV iShares Silver Trust | New | 0.57% | +0.57 |
| SIVR Abrdn Physical Silver Shares | New | 0.56% | +0.56 |
| REMX Vaneck Rar Earth ND STG-Usdi | New | 0.54% | +0.54 |
| META Meta Platforms Inc. Class A | Add +105.1% | 1.17% | +0.50 |
| LLY Eli Lilly & Co. | Add +92.0% | 0.79% | +0.48 |
| GLTR Abrdn Precious Metals Basket | New | 0.48% | +0.48 |
| AVGO Broadcom Inc. | Add +87.8% | 1.01% | +0.47 |
| TSLA Tesla Inc. | Add +78.3% | 1.08% | +0.45 |
| V Visa Inc. Class A | New | 0.39% | +0.39 |
| SBIO Alps Medical Breakthroughs | New | 0.37% | +0.37 |
| IAU iShares Gold Trust | New | 0.35% | +0.35 |
| GLD SPDR Gold Shares | New | 0.34% | +0.34 |
| AVEM Avantis Emerging Markets Eq | New | 0.33% | +0.33 |
| FTXL First Trust Nasdaq Semicondu | New | 0.33% | +0.33 |
| FTEC Fidelity MSCI Info Tech Indx | Add +81.1% | 0.76% | +0.32 |
| XBI SS SPDR S&P Biotech ETF | New | 0.32% | +0.32 |
| BBP Virtus Biotech ETF-Usd Inc. | New | 0.32% | +0.32 |
| FYC First Trust Small Cap Growth | New | 0.30% | +0.30 |
| PSI Invesco Semiconductors ETF | New | 0.30% | +0.30 |
| KNCT Invesco Next Gen Connectivit | New | 0.29% | +0.29 |
| TSM Taiwan Semiconductor-SP ADR | New | 0.29% | +0.29 |
| IVE iShares S&P 500 Value ETF | Add +44.0% | 0.96% | +0.27 |
| KO The Coca-Cola Co. | New | 0.26% | +0.26 |
| MA Mastercard Inc. Class A | New | 0.25% | +0.25 |
| CSD Invesco S&P Spin-Off ETF | New | 0.25% | +0.25 |
| GS Goldman Sachs Group Inc. | Add +67.4% | 0.58% | +0.25 |
| GURU Global X Guru Index ETF | New | 0.25% | +0.25 |
| AMAT Applied Materials Inc. | New | 0.25% | +0.25 |
| VLUE iShares MSCI USA Value Facto | New | 0.24% | +0.24 |
| IWC iShares Micro-Cap ETF | Add +95.9% | 0.49% | +0.24 |
| CNRG SS SPDR S&P Kensho CLP ETF | New | 0.24% | +0.24 |
| PSCT Invesco S&P Smallcap Informa | New | 0.23% | +0.23 |
| NBIS Nebius Group NV | New | 0.23% | +0.23 |
| LRCX Lam Research Corp. | New | 0.22% | +0.22 |
| QQQ Invesco QQQ Trust Series 1 | New | 0.21% | +0.21 |
| TTE Totalenergies SE | New | 0.21% | +0.21 |
| XLG Invesco S&P 500 Top 50 ETF | Add +28.6% | 1.01% | +0.20 |
| FOXA Fox Corp. Class A | New | 0.20% | +0.20 |
| CTAS Cintas Corp. | New | 0.19% | +0.19 |
| GOOG Alphabet Inc. Class C | New | 0.19% | +0.19 |
| PM Philip Morris International | New | 0.19% | +0.19 |
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 |