Fulcrum Equity Management

In its 13F for Q1 2026 (holdings as of March 31, 2026, filed April 2, 2026), Fulcrum Equity Management reported 123 stock positions worth $102.7 million. Its top holding was iShares Core S&P Total U.S. (ITOT) at 10.4% of the portfolio, followed by iShares MSCI World ETF (URTH, 8.1%) and Oneok (OKE, 4.5%). Compared with Q4 2025, it opened 33 new positions, sold out of 27, added to 42 and reduced 36. The biggest buy was a new position in Schwab US DVD Equity ETF (SCHD) and the biggest sale an exit from Invesco Nasdaq 100 ETF (QQQM).

Most Recent 13F
Q2 2026
Location
PLANO, TX
CIK
0001737888
Portfolio Value
$102.7M (Q1 2026)
SEC Filing
0001737888-26-000004 ↗ filed Apr 2, 2026

Holdings Value

0$50.0M$100.0M$150.0M Q1 2024: $84.8M Q1 2024 Q2 2024: $111.4M Q2 2024 Q3 2024: $118.4M Q3 2024 Q4 2024: $101.1M Q4 2024 Q1 2025: $91.6M Q1 2025 Q2 2025: $97.4M Q2 2025 Q3 2025: $98.7M Q3 2025 Q4 2025: $104.5M Q4 2025 Q1 2026: $102.7M $102.7M Q1 2026 Q2 2026: $123.6M Q2 2026

Holdings 123 stocks · $102.7M
ITOT iShares Core S&P Total U.S. 10.36% 74,708 $10.6M Reduce -3.8%
URTH iShares MSCI World ETF 8.09% 46,192 $8.3M No change
OKE Oneok Inc. 4.54% 51,550 $4.7M Add +1.3%
XLK SS Technology Select Sector 4.50% 34,759 $4.6M Reduce -14.1%
NVDA Nvidia Corp. 3.86% 22,738 $4.0M Add +7.7%
AAPL Apple Inc. 2.58% 10,426 $2.6M Add +13.7%
SCHD Schwab US DVD Equity ETF 2.27% 76,153 $2.3M New
WMT Walmart Inc. 2.04% 16,832 $2.1M Add +0.3%
BRK.B Berkshire Hathaway Inc. Class B 1.88% 4,030 $1.9M Reduce -0.0%
XLE SS Energy Select Sector 1.73% 29,055 $1.8M New
XLC SS Comm Select Sector SPDR 1.73% 16,005 $1.8M Reduce -17.1%
GOOGL Alphabet Inc. Class A 1.63% 5,838 $1.7M Add +0.7%
XLV SS Health Care Select Sector 1.41% 9,854 $1.4M Reduce -8.1%
SPYM Ste STR SPDR PT S&P 500 ETF 1.40% 18,789 $1.4M Add +27.3%
AMZN Amazon.com Inc. 1.38% 6,806 $1.4M Reduce -4.5%
XLI SS Industrial Select Sector 1.38% 8,736 $1.4M Add +30.6%
XLF SS Financial Select Sector 1.36% 28,312 $1.4M Reduce -26.2%
XLY SS Consumer Disc Select Sect 1.21% 11,383 $1.2M Reduce -20.1%
MSFT Microsoft Corp. 1.20% 3,319 $1.2M Reduce -7.0%
SPLV Invesco S&P 500 Low Volatili 1.10% 15,440 $1.1M New
JPM JPMorgan Chase & Co. 1.07% 3,746 $1.1M Add +2.0%
TSLA Tesla Inc. 0.95% 2,621 $974K Add +4.7%
AVGO Broadcom Inc. 0.94% 3,124 $967K Add +2.1%
ASML ASML Holding NV-NY Reg SHS filed as ASML HLDG NV 0.87% 676 $893K Add +6.8%
XLP SS Consumer Staples Sel Sect 0.86% 10,783 $884K New
IVE iShares S&P 500 Value ETF 0.84% 4,075 $860K Reduce -14.2%
META Meta Platforms Inc. Class A 0.83% 1,499 $858K Reduce -18.8%
GEV GE Vernova Inc. 0.82% 970 $847K Add +0.2%
LLY Eli Lilly & Co. 0.82% 915 $842K Add +19.8%
LOW Lowe's Cos Inc. 0.81% 3,544 $837K Add +0.5%
XLU St Sr Utl SL SE SPDR ETF-Usd 0.79% 17,618 $808K Reduce -11.5%
LDUR PIMCO Enhanced Low Duration 0.78% 8,362 $801K New
AVSF Avantis Short-Term Fixed Inc. 0.78% 17,107 $801K New
BIL SS SPDR BB 1-3M T-Bill ETF 0.75% 8,452 $775K New
DYNF Ishrs US E F R A ETF-Usd Inc. 0.75% 13,303 $774K Reduce -34.4%
XOM Exxon Mobil Corp. 0.73% 4,422 $750K Add +4.2%
SILA Sila Realty Trust Inc. 0.71% 30,802 $729K Add +0.4%
LST Leuthold Sel Ind filed as MANAGED PORTFOLIO SERIES 0.70% 17,802 $720K New
IVW iShares S&P 500 Growth ETF 0.69% 6,222 $704K Add +3.0%
SCHB Schwab US Broad Market ETF 0.68% 27,885 $700K Reduce -33.6%
GSY Invesco Ultra Short Duration 0.67% 13,687 $686K New
SLV iShares Silver Trust 0.62% 9,335 $636K Add +0.8%
REMX Vaneck Rar Earth ND STG-Usdi 0.61% 7,100 $625K Reduce -7.5%
SIVR Abrdn Physical Silver Shares 0.61% 8,700 $623K No change
COST Costco Wholesale Corp. 0.59% 610 $608K Add +1.2%
GS Goldman Sachs Group Inc. 0.58% 706 $597K Add +2.6%
APH Amphenol Corp. Class A 0.57% 4,606 $582K Add +11.3%
KAMO Kensington Credit Opport ETF filed as MANAGED PORTFOLIO SERIES 0.56% 23,369 $577K Reduce -6.8%
CORO Ish Intl CTRY Rot Act ETF 0.54% 17,363 $558K New
XLB SS Materials Select Sector 0.54% 11,128 $556K New
IUSB Ishr CR Unvrse Usd BD ETF-Ui 0.53% 11,735 $542K Add +1.3%
XTEN Bondbloxx BBG 10Y US TSY ETF 0.52% 11,610 $532K Add +2.4%
GLTR Abrdn Precious Metals Basket 0.52% 2,425 $530K No change
DUK Duke Energy Corp. 0.51% 3,972 $520K Add +0.6%
ACWX iShares MSCI Acwi Ex US ETF 0.51% 7,589 $520K New
AHR American Healthcare REIT Inc. 0.45% 9,905 $467K No change
KHPI Kensington Hedged PRM in ETF filed as MANAGED PORTFOLIO SERIES 0.43% 18,131 $439K Add +7.7%
SCHZ Schwab US Aggregate Bond ETF 0.41% 18,254 $424K Add +1.0%
XES SS SPDR S&P Og Eqp & Serv 0.41% 3,635 $423K New
PXJ Invesco Oil & Gas Services E 0.41% 10,147 $421K New
AMAT Applied Materials Inc. 0.40% 1,203 $411K Add +19.8%
IAU iShares Gold Trust 0.39% 4,560 $402K Add +2.1%
NFLX Netflix Inc. 0.38% 4,081 $392K Reduce -4.6%
TSM Taiwan Semiconductor-SP ADR 0.38% 1,155 $390K Add +17.6%
AVEM Avantis Emerging Markets Eq 0.38% 4,804 $387K Add +6.0%
GLD SPDR Gold Shares 0.37% 895 $385K No change
BAI Ishrs AI in and Tech Act ETF 0.37% 11,543 $380K Add +1.5%
LRCX Lam Research Corp. 0.37% 1,768 $378K Add +30.6%
GOVT iShares US Treasury Bond ETF 0.36% 16,000 $367K New
QUAL iShares MSCI USA Quality Fac 0.35% 1,890 $362K No change
THRO iShares U.S. Thematic Rotati 0.35% 9,833 $356K Add +0.0%
IYW iShares Ustechnology ETF 0.34% 1,940 $352K Reduce -77.8%
JCI Johnson Controls Internation 0.34% 2,686 $352K Add +1.3%
SPMO Invesco S&P 500 Momentum ETF 0.34% 3,130 $351K Reduce -0.5%
GE General Electric filed as GE AEROSPACE 0.34% 1,230 $349K Add +6.8%
FTXL First Trust Nasdaq Semicondu 0.33% 2,318 $342K Reduce -12.6%
ASTS Ast Spacemobile Inc. 0.33% 4,094 $339K New
V Visa Inc. Class A 0.33% 1,109 $335K Reduce -4.8%
PLTR Palantir Technologies Inc. Class A 0.32% 2,247 $329K Reduce -6.1%
MOO Vaneck Agribusiness ETF 0.31% 3,813 $322K New
EFV iShares MSCI Eafe Value ETF 0.30% 4,142 $308K Reduce -54.0%
RSPG Invesco S&P 500 Equal Weight 0.30% 2,788 $305K New
TTE Totalenergies SE 0.30% 3,343 $304K No change
RY Royal Bank of Canada 0.29% 1,846 $299K Add +1.4%
PSI Invesco Semiconductors ETF 0.29% 3,164 $299K Reduce -19.6%
KO The Coca-Cola Co. 0.29% 3,901 $297K Add +0.8%
ABBV Abbvie Inc. 0.29% 1,355 $295K Add +3.4%
MBB iShares MBS ETF 0.29% 3,088 $293K Add +0.2%
SHLD Global X Defense Tech ETF 0.29% 4,138 $293K New
ROKT SS SPDR S&P Kensho FF ETF 0.28% 2,926 $291K New
GRNY Fundstr Gran SH US LRG Cap 0.28% 11,875 $283K Reduce -68.7%
NBIS Nebius Group NV 0.28% 2,727 $283K Reduce -4.2%
HSBC HSBC Holdings PLC-Spons ADR filed as HSBC HLDGS PLC 0.27% 3,352 $277K No change
NVS Novartis AG-Sponsored ADR 0.27% 1,805 $276K No change
BLCR iShares LRG CP CR Act ETF-Ui 0.27% 6,632 $272K New
IAGG iShares Intl Aggregate Bond 0.26% 5,322 $266K Add +2.5%
KNCT Invesco Next Gen Connectivit 0.26% 1,910 $265K Reduce -15.9%
ALKT Alkami Technology Inc. 0.26% 16,850 $264K New
ENB Enbridge Inc. 0.25% 4,810 $260K Add +2.0%
ORCL Oracle Corp. 0.25% 1,759 $259K Reduce -9.2%
XTL SS SPDR S&P Telecom ETF 0.25% 1,354 $255K New
FTXG First Trust Nasdaq Food & Be 0.25% 11,418 $253K New
VZ Verizon Communications Inc. 0.24% 4,973 $250K Reduce -0.6%
SCHG Schwab US Large-Cap Growth 0.24% 8,481 $247K Reduce -68.9%
EME Emcor Group Inc. 0.24% 331 $244K New
ANET Arista Networks Inc. 0.24% 1,983 $243K Reduce -35.2%
AMD Advanced Micro Devices 0.23% 1,180 $240K New
BBP Virtus Biotech ETF-Usd Inc. 0.23% 2,889 $240K Reduce -30.4%
CEF Sprott Physical Gold and Sil 0.23% 5,018 $239K New
CTRA Coterra Energy Inc. 0.23% 6,723 $236K New
SAN Banco Santander SA-Spon ADR 0.23% 20,893 $236K No change
CSD Invesco S&P Spin-Off ETF 0.23% 2,053 $231K Reduce -20.9%
DASH DoorDash Inc. Class A 0.22% 1,530 $230K Add +10.4%
CHT Chunghwa Telecom LT-Spon ADR 0.22% 5,374 $227K No change
PSCT Invesco S&P Smallcap Informa 0.21% 3,608 $217K Reduce -15.6%
NEM Newmont Corp. 0.21% 1,998 $216K New
FCG First Trust Natural Gas ETF 0.21% 6,817 $216K New
MA Mastercard Inc. Class A 0.21% 426 $213K Reduce -8.4%
CASY Casey's General Stores Inc. 0.21% 292 $213K New
PM Philip Morris International 0.20% 1,254 $207K No change
RTX RTX Corp. 0.20% 1,056 $204K New
MRVL Marvell Technology Inc. 0.20% 2,031 $201K New
BITF Bitfarms Ltd./Canada 0.06% 30,500 $59K Reduce -35.9%

Options reported separately and not counted above: TSLA puts ($433K), TSLA calls ($298K), ARKG calls ($26K), TLT calls ($7K).

Portfolio Sells Q4 2025 → Q1 2026
QQQM Invesco Nasdaq 100 ETF Sold out 0.00% −1.65
IYW iShares Ustechnology ETF Reduce -77.8% 0.34% −1.33
XLK SS Technology Select Sector Reduce -14.1% 4.50% −1.08
XLG Invesco S&P 500 Top 50 ETF Sold out 0.00% −1.01
IVV iShares Core S&P 500 ETF Sold out 0.00% −0.92
FTEC Fidelity MSCI Info Tech Indx Sold out 0.00% −0.76
SPY SS SPDR S&P 500 ETF Trust-US Sold out 0.00% −0.76
ITOT iShares Core S&P Total U.S. Reduce -3.8% 10.36% −0.70
XLF SS Financial Select Sector Reduce -26.2% 1.36% −0.65
GRNY Fundstr Gran SH US LRG Cap Reduce -68.7% 0.28% −0.62
SCHG Schwab US Large-Cap Growth Reduce -68.9% 0.24% −0.61
IWC iShares Micro-Cap ETF Sold out 0.00% −0.49
IEMG iShares Core MSCI Emerging Sold out 0.00% −0.46
MSFT Microsoft Corp. Reduce -7.0% 1.20% −0.46
XLC SS Comm Select Sector SPDR Reduce -17.1% 1.73% −0.45
DYNF Ishrs US E F R A ETF-Usd Inc. Reduce -34.4% 0.75% −0.43
XLY SS Consumer Disc Select Sect Reduce -20.1% 1.21% −0.42
SCHB Schwab US Broad Market ETF Reduce -33.6% 0.68% −0.37
SBIO Alps Medical Breakthroughs Sold out 0.00% −0.37
SPYG SS SPDR P S&P 500 Growth ETF Sold out 0.00% −0.34
VONG Vanguard Russell 1000 Growth Sold out 0.00% −0.34
META Meta Platforms Inc. Class A Reduce -18.8% 0.83% −0.33
PKB Invesco Building & Construct Sold out 0.00% −0.33
XBI SS SPDR S&P Biotech ETF Sold out 0.00% −0.32
EFV iShares MSCI Eafe Value ETF Reduce -54.0% 0.30% −0.32
AIRR First Trust Rba American Ind Sold out 0.00% −0.31
FYC First Trust Small Cap Growth Sold out 0.00% −0.30
PPA Invesco Aerospace & Defense Sold out 0.00% −0.30
ITA iShares U.S. Aerospace & Def Sold out 0.00% −0.29
GLDM SPDR Gold Minishares Trust Sold out 0.00% −0.26
ILCG iShares Morningstar Growth E Sold out 0.00% −0.25
GURU Global X Guru Index ETF Sold out 0.00% −0.25
VLUE iShares MSCI USA Value Facto Sold out 0.00% −0.24
CNRG SS SPDR S&P Kensho CLP ETF Sold out 0.00% −0.24
NVO Novo-Nordisk A/S-Spons ADR Sold out 0.00% −0.23
QQQ Invesco QQQ Trust Series 1 Sold out 0.00% −0.21
BN Brookfield Corp. Sold out 0.00% −0.21
FOXA Fox Corp. Class A Sold out 0.00% −0.20
CTAS Cintas Corp. Sold out 0.00% −0.19
GOOG Alphabet Inc. Class C Sold out 0.00% −0.19
AMZN Amazon.com Inc. Reduce -4.5% 1.38% −0.19
XLV SS Health Care Select Sector Reduce -8.1% 1.41% −0.18
ANET Arista Networks Inc. Reduce -35.2% 0.24% −0.15
IVE iShares S&P 500 Value ETF Reduce -14.2% 0.84% −0.13
ORCL Oracle Corp. Reduce -9.2% 0.25% −0.11
PLTR Palantir Technologies Inc. Class A Reduce -6.1% 0.32% −0.09
BBP Virtus Biotech ETF-Usd Inc. Reduce -30.4% 0.23% −0.08
V Visa Inc. Class A Reduce -4.8% 0.33% −0.06
BRK.B Berkshire Hathaway Inc. Class B Reduce -0.0% 1.88% −0.06
BITF Bitfarms Ltd./Canada Reduce -35.9% 0.06% −0.05

Portfolio Buys Q4 2025 → Q1 2026
SCHD Schwab US DVD Equity ETF New 2.27% +2.27
XLE SS Energy Select Sector New 1.73% +1.73
SPLV Invesco S&P 500 Low Volatili New 1.10% +1.10
OKE Oneok Inc. Add +1.3% 4.54% +0.96
XLP SS Consumer Staples Sel Sect New 0.86% +0.86
LDUR PIMCO Enhanced Low Duration New 0.78% +0.78
AVSF Avantis Short-Term Fixed Inc. New 0.78% +0.78
BIL SS SPDR BB 1-3M T-Bill ETF New 0.75% +0.75
LST Leuthold Sel Ind New 0.70% +0.70
GSY Invesco Ultra Short Duration New 0.67% +0.67
CORO Ish Intl CTRY Rot Act ETF New 0.54% +0.54
XLB SS Materials Select Sector New 0.54% +0.54
ACWX iShares MSCI Acwi Ex US ETF New 0.51% +0.51
XES SS SPDR S&P Og Eqp & Serv New 0.41% +0.41
PXJ Invesco Oil & Gas Services E New 0.41% +0.41
XLI SS Industrial Select Sector Add +30.6% 1.38% +0.38
GOVT iShares US Treasury Bond ETF New 0.36% +0.36
ASTS Ast Spacemobile Inc. New 0.33% +0.33
MOO Vaneck Agribusiness ETF New 0.31% +0.31
RSPG Invesco S&P 500 Equal Weight New 0.30% +0.30
SHLD Global X Defense Tech ETF New 0.29% +0.29
ROKT SS SPDR S&P Kensho FF ETF New 0.28% +0.28
SPYM Ste STR SPDR PT S&P 500 ETF Add +27.3% 1.40% +0.27
BLCR iShares LRG CP CR Act ETF-Ui New 0.27% +0.27
ALKT Alkami Technology Inc. New 0.26% +0.26
XTL SS SPDR S&P Telecom ETF New 0.25% +0.25
WMT Walmart Inc. Add +0.3% 2.04% +0.25
FTXG First Trust Nasdaq Food & Be New 0.25% +0.25
XOM Exxon Mobil Corp. Add +4.2% 0.73% +0.24
EME Emcor Group Inc. New 0.24% +0.24
AMD Advanced Micro Devices New 0.23% +0.23
CEF Sprott Physical Gold and Sil New 0.23% +0.23
CTRA Coterra Energy Inc. New 0.23% +0.23
ASML ASML Holding NV-NY Reg SHS Add +6.8% 0.87% +0.22
GEV GE Vernova Inc. Add +0.2% 0.82% +0.22
NEM Newmont Corp. New 0.21% +0.21
FCG First Trust Natural Gas ETF New 0.21% +0.21
CASY Casey's General Stores Inc. New 0.21% +0.21
RTX RTX Corp. New 0.20% +0.20
MRVL Marvell Technology Inc. New 0.20% +0.20
AAPL Apple Inc. Add +13.7% 2.58% +0.19
AMAT Applied Materials Inc. Add +19.8% 0.40% +0.15
LRCX Lam Research Corp. Add +30.6% 0.37% +0.15
TSM Taiwan Semiconductor-SP ADR Add +17.6% 0.38% +0.09
COST Costco Wholesale Corp. Add +1.2% 0.59% +0.09
NVDA Nvidia Corp. Add +7.7% 3.86% +0.09
DUK Duke Energy Corp. Add +0.6% 0.51% +0.06
SLV iShares Silver Trust Add +0.8% 0.62% +0.05
IAU iShares Gold Trust Add +2.1% 0.39% +0.04
AVEM Avantis Emerging Markets Eq Add +6.0% 0.38% +0.04

Options Activity Q4 2025 → Q1 2026
TSLA Tesla Inc. put New 8,500 $433K
TSLA Tesla Inc. call New 5,000 $298K
ARKG ARK Genomic Revolution ETF call New 20,000 $26K
TLT iShares 20+ Year Treasury BD call New 24,000 $7K

Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 140$123.6MITOT, URTH, XLK, OKE, NVDA
Q1 2026 123$102.7MITOT, URTH, OKE, XLK, NVDA
Q4 2025 117$104.5MITOT, URTH, XLK, NVDA, OKE
Q3 2025 94$98.7MITOT, SPY, URTH, XLK, OKE
Q2 2025 102$97.4MITOT, URTH, SPY, SPLV, XLK
Q1 2025 96$91.6MITOT, URTH, RSP, OKE, XLK
Q4 2024 110$101.1MITOT, URTH, OKE, XLK, XLF
Q3 2024Amended 137$118.4MITOT, URTH, OKE, SPY, XLK
Q2 2024 130$111.4MITOT, URTH, OKE, SPY, SPYM
Q1 2024 109$84.8MURTH, OKE, SPY, HYG, QQQM