Fulcrum Equity Management — Q1 2025 13F Holdings

Holdings as of March 31, 2025

Portfolio value

$91.55B

Holdings count

96 positions reported

Accession #

0001737888-25-000004

Form 13F-HR

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All Reported Positions

96 positions sorted by value

96 positions

Issuer	CUSIP	Valuev	Weight	Shares/Prin.	Discretion	Voting (Sole/Shared/None)
ISHARES TRCORE S&P TTL STK	464287150	$9.78B	10.69%	80,191shares	SOLE	0 / 0 / 80,191
ISHARES INCMSCI WORLD ETF	464286392	$7.08B	7.73%	46,192shares	SOLE	0 / 0 / 46,192
INVESCO EXCHANGE TRADED FD TS&P500 EQL WGT	46137V357	$4.73B	5.17%	27,302shares	SOLE	0 / 0 / 27,302
ONEOK INC NEWCOM	682680103	$4.72B	5.16%	47,599shares	SOLE	0 / 0 / 47,599
SELECT SECTOR SPDR TRTECHNOLOGY	81369Y803	$3.86B	4.22%	18,699shares	SOLE	1,598 / 0 / 17,101
SELECT SECTOR SPDR TRCOMMUNICATION	81369Y852	$3.14B	3.43%	32,549shares	SOLE	1,295 / 0 / 31,254
SPDR S&P 500 ETF TRTR UNIT	78462F103	$2.93B	3.20%	5,236shares	SOLE	55 / 0 / 5,181
BERKSHIRE HATHAWAY INC DELCL B NEW	084670702	$2.35B	2.57%	4,410shares	SOLE	0 / 0 / 4,410
SELECT SECTOR SPDR TRFINANCIAL	81369Y605	$2.29B	2.50%	46,009shares	SOLE	3,184 / 0 / 42,825
SELECT SECTOR SPDR TRSBI CONS DISCR	81369Y407	$1.62B	1.77%	8,201shares	SOLE	358 / 0 / 7,843
SELECT SECTOR SPDR TRSBI HEALTHCARE	81369Y209	$1.57B	1.71%	10,741shares	SOLE	1,001 / 0 / 9,740
SPDR SER TRS&P INS ETF	78464A789	$1.55B	1.69%	25,531shares	SOLE	0 / 0 / 25,531
APPLE INCCOM	037833100	$1.45B	1.59%	6,535shares	SOLE	0 / 0 / 6,535
SPDR SER TRPORTFOLIO S&P500	78464A854	$1.43B	1.56%	21,770shares	SOLE	0 / 0 / 21,770
WALMART INCCOM	931142103	$1.36B	1.48%	15,450shares	SOLE	0 / 0 / 15,450
ALPS ETF TRALERIAN ENERGY	00162Q676	$1.22B	1.34%	37,363shares	SOLE	0 / 0 / 37,363
ISHARES TRU.S. TECH ETF	464287721	$1.20B	1.31%	8,510shares	SOLE	0 / 0 / 8,510
VANECK ETF TRUSTENERGY INCME ET	92189H870	$1.12B	1.22%	11,156shares	SOLE	0 / 0 / 11,156
INVESCO EXCHANGE TRADED FD TAEROSPACE DEFN	46137V100	$1.11B	1.22%	9,556shares	SOLE	0 / 0 / 9,556
FIRST TR EXCHANGE-TRADED FDNO AMER ENERGY	33738D101	$1.09B	1.19%	29,129shares	SOLE	0 / 0 / 29,129
SPDR SER TRS&P TELECOM	78464A540	$1.09B	1.19%	10,900shares	SOLE	0 / 0 / 10,900
SELECT SECTOR SPDR TRINDL	81369Y704	$1.08B	1.18%	8,222shares	SOLE	563 / 0 / 7,659
NVIDIA CORPORATIONCOM	67066G104	$1.02B	1.11%	9,383shares	SOLE	0 / 0 / 9,383
FIRST TR EXCHANGE TRADED FDS NETWRK E-COM	33738R829	$1.00B	1.09%	27,718shares	SOLE	0 / 0 / 27,718
GLOBAL X FDSGLB X MLP ENRG I	37954Y293	$998.86M	1.09%	15,654shares	SOLE	0 / 0 / 15,654
PIMCO ETF TRENHAN SHRT MA AC	72201R833	$951.89M	1.04%	9,460shares	SOLE	0 / 0 / 9,460
ISHARES U S ETF TRU.S. TECH INDEPD	46431W648	$943.67M	1.03%	12,592shares	SOLE	0 / 0 / 12,592
VANGUARD WORLD FDFINANCIALS ETF	92204A405	$943.00M	1.03%	7,893shares	SOLE	0 / 0 / 7,893
SCHWAB STRATEGIC TRUS SML CAP ETF	808524607	$906.86M	0.99%	38,705shares	SOLE	0 / 0 / 38,705
SILA REALTY TRUST INCCOMMON STOCK	146280508	$893.99M	0.98%	33,470shares	SOLE	0 / 0 / 33,470
FIRST TR EXCHANGE-TRADED FDDJ INTERNT IDX	33733E302	$879.94M	0.96%	3,961shares	SOLE	0 / 0 / 3,961
LOWES COS INCCOM	548661107	$797.80M	0.87%	3,421shares	SOLE	0 / 0 / 3,421
ISHARES TRCORE TOTAL USD	46434V613	$787.58M	0.86%	17,091shares	SOLE	0 / 0 / 17,091
SCHWAB STRATEGIC TRUS BRD MKT ETF	808524102	$754.02M	0.82%	35,022shares	SOLE	0 / 0 / 35,022
SELECT SECTOR SPDR TRSBI CONS STPLS	81369Y308	$732.50M	0.80%	8,969shares	SOLE	836 / 0 / 8,133
J P MORGAN EXCHANGE TRADED FULTRA SHRT ETF	46641Q837	$731.90M	0.80%	14,456shares	SOLE	0 / 0 / 14,456
ISHARES TRMSCI USA QLT FCT	46432F339	$728.88M	0.80%	4,265shares	SOLE	0 / 0 / 4,265
ISHARES TRS&P 500 GRWT ETF	464287309	$715.39M	0.78%	7,706shares	SOLE	0 / 0 / 7,706
ABBVIE INCCOM	00287Y109	$712.22M	0.78%	3,399shares	SOLE	0 / 0 / 3,399
AMAZON COM INCCOM	023135106	$669.52M	0.73%	3,519shares	SOLE	0 / 0 / 3,519
BLACKROCK ETF TRUSTISHARES US EQUIT	09290C103	$635.10M	0.69%	13,025shares	SOLE	0 / 0 / 13,025
ISHARES TRIBOXX HI YD ETF	464288513	$623.00M	0.68%	7,897shares	SOLE	0 / 0 / 7,897
SCHWAB STRATEGIC TRUS LCAP GR ETF	808524300	$620.53M	0.68%	24,782shares	SOLE	0 / 0 / 24,782
SPDR SER TRBLOOMBERG 1-3 MO	78468R663	$619.91M	0.68%	6,758shares	SOLE	0 / 0 / 6,758
GOLDMAN SACHS ETF TRULTRA SHORT BOND	381430230	$562.06M	0.61%	11,121shares	SOLE	0 / 0 / 11,121
ISHARES TRS&P 500 VAL ETF	464287408	$536.02M	0.59%	2,813shares	SOLE	0 / 0 / 2,813
ISHARES TREAFE VALUE ETF	464288877	$475.34M	0.52%	8,065shares	SOLE	0 / 0 / 8,065
DUKE ENERGY CORP NEWCOM NEW	26441C204	$471.78M	0.52%	3,868shares	SOLE	0 / 0 / 3,868
EXXON MOBIL CORPCOM	30231G102	$467.32M	0.51%	3,929shares	SOLE	0 / 0 / 3,929
VALERO ENERGY CORPCOM	91913Y100	$457.26M	0.50%	3,462shares	SOLE	0 / 0 / 3,462
SCHWAB STRATEGIC TRUS AGGREGATE B	808524839	$446.23M	0.49%	19,267shares	SOLE	0 / 0 / 19,267
BNY MELLON ETF TRUSTHIGH YIELD ETF	09661T800	$443.04M	0.48%	9,302shares	SOLE	0 / 0 / 9,302
BROADCOM INCCOM	11135F101	$435.38M	0.48%	2,600shares	SOLE	0 / 0 / 2,600
META PLATFORMS INCCL A	30303M102	$409.82M	0.45%	711shares	SOLE	0 / 0 / 711
COSTCO WHSL CORP NEWCOM	22160K105	$405.79M	0.44%	429shares	SOLE	0 / 0 / 429
ALPHABET INCCAP STK CL A	02079K305	$402.64M	0.44%	2,604shares	SOLE	0 / 0 / 2,604
ISHARES TR20 YR TR BD ETF	464287432	$387.56M	0.42%	4,258shares	SOLE	0 / 0 / 4,258
JPMORGAN CHASE & CO.COM	46625H100	$383.89M	0.42%	1,565shares	SOLE	0 / 0 / 1,565
TESLA INCCOM	88160R101	$380.19M	0.42%	1,467shares	SOLE	0 / 0 / 1,467
STARBUCKS CORPCOM	855244109	$359.01M	0.39%	3,660shares	SOLE	0 / 0 / 3,660
CAPITAL GRP FIXED INCM ETF TUS MULTI-SECTOR	14020Y300	$324.24M	0.35%	11,877shares	SOLE	0 / 0 / 11,877
MANAGED PORTFOLIO SERIESKENSINGTON HEDGE	56167N183	$321.00M	0.35%	13,397shares	SOLE	0 / 0 / 13,397
CISCO SYS INCCOM	17275R102	$318.86M	0.35%	5,167shares	SOLE	0 / 0 / 5,167
TARGA RES CORPCOM	87612G101	$312.59M	0.34%	1,559shares	SOLE	0 / 0 / 1,559
CHEVRON CORP NEWCOM	166764100	$309.99M	0.34%	1,853shares	SOLE	0 / 0 / 1,853
ISHARES TREAFE GRWTH ETF	464288885	$302.05M	0.33%	3,021shares	SOLE	0 / 0 / 3,021
PHILLIPS 66COM	718546104	$301.17M	0.33%	2,439shares	SOLE	0 / 0 / 2,439
AMERICAN HEALTHCARE REIT INCCOM SHS	398182303	$300.12M	0.33%	9,905shares	SOLE	0 / 0 / 9,905
SELECT SECTOR SPDR TRSBI INT-UTILS	81369Y886	$297.19M	0.32%	3,769shares	SOLE	351 / 0 / 3,418
SELECT SECTOR SPDR TRENERGY	81369Y506	$294.27M	0.32%	3,149shares	SOLE	0 / 0 / 3,149
INGREDION INCCOM	457187102	$294.14M	0.32%	2,175shares	SOLE	0 / 0 / 2,175
VANECK ETF TRUSTCLO ETF	92189H748	$289.47M	0.32%	5,478shares	SOLE	0 / 0 / 5,478
FRANKLIN TEMPLETON ETF TRSENIOR LOAN ETF	35473P595	$287.80M	0.31%	11,957shares	SOLE	0 / 0 / 11,957
GE VERNOVA INCCOM	36828A101	$261.01M	0.29%	855shares	SOLE	0 / 0 / 855
BONDBLOXX ETF TRUSTBLOOMBERG TEN YR	09789C812	$259.67M	0.28%	5,576shares	SOLE	0 / 0 / 5,576
CME GROUP INCCOM	12572Q105	$257.70M	0.28%	971shares	SOLE	0 / 0 / 971
MICROSOFT CORPCOM	594918104	$254.94M	0.28%	679shares	SOLE	0 / 0 / 679
ISHARES TRRUSSELL 2000 ETF	464287655	$248.37M	0.27%	1,245shares	SOLE	0 / 0 / 1,245
AMGEN INCCOM	031162100	$246.91M	0.27%	793shares	SOLE	0 / 0 / 793
GOLDMAN SACHS GROUP INCCOM	38141G104	$243.10M	0.27%	445shares	SOLE	0 / 0 / 445
PEPSICO INCCOM	713448108	$238.19M	0.26%	1,589shares	SOLE	0 / 0 / 1,589
ISHARES TRMBS ETF	464288588	$234.96M	0.26%	2,505shares	SOLE	0 / 0 / 2,505
ELI LILLY & COCOM	532457108	$234.56M	0.26%	284shares	SOLE	0 / 0 / 284
PROCTER AND GAMBLE COCOM	742718109	$226.74M	0.25%	1,330shares	SOLE	0 / 0 / 1,330
ISHARES INCMSCI EMRG CHN	46434G764	$224.28M	0.24%	4,071shares	SOLE	0 / 0 / 4,071
ISHARES INCCORE MSCI EMKT	46434G103	$224.20M	0.24%	4,154shares	SOLE	0 / 0 / 4,154
VERIZON COMMUNICATIONS INCCOM	92343V104	$219.00M	0.24%	4,828shares	SOLE	0 / 0 / 4,828
CARNIVAL CORPUNIT 99/99/9999	143658300	$216.76M	0.24%	11,099shares	SOLE	0 / 0 / 11,099
COLGATE PALMOLIVE COCOM	194162103	$215.49M	0.24%	2,300shares	SOLE	0 / 0 / 2,300
ATMOS ENERGY CORPCOM	049560105	$215.33M	0.24%	1,393shares	SOLE	0 / 0 / 1,393
INVESCO EXCHANGE TRADED FD TS&P 500 TOP 50	46137V233	$211.32M	0.23%	4,592shares	SOLE	0 / 0 / 4,592
UNIVERSAL CORP VACOM	913456109	$207.39M	0.23%	3,700shares	SOLE	0 / 0 / 3,700
VIPER ENERGY INCCL A	927959106	$203.92M	0.22%	4,517shares	SOLE	0 / 0 / 4,517
PARKER-HANNIFIN CORPCOM	701094104	$203.63M	0.22%	335shares	SOLE	0 / 0 / 335
INVESCO EXCH TRADED FD TR IIS&P 500 MOMNTM	46138E339	$201.62M	0.22%	2,179shares	SOLE	0 / 0 / 2,179
BANCO SANTANDER S.A.ADR	05964H105	$100.28M	0.11%	14,967shares	SOLE	0 / 0 / 14,967

Filing Metadata

Form type

13F-HR

Filing date

May 1, 2025

Holdings as of

March 31, 2025

Accession

0001737888-25-000004

CIK

0001737888

View on SEC

Portfolio Snapshot

Total Portfolio Value

$91.55B

Number of Positions

96 reported by filer

Top 10 Concentration

46.4%

Top 20 Concentration

60.7%

Unique Issuers

By CUSIP

Avg. Position Size

$953.67M

Across 96 holdings

Top 5 Holdings

ISHARES TR10.7%

ISHARES INC7.7%

INVESCO EXCHANGE TRADED FD T5.2%

ONEOK INC NEW5.2%

SELECT SECTOR SPDR TR4.2%