Fulcrum Equity Management
Fulcrum Equity Management reported 129 US-listed holdings worth $123.6 million in its 13F for the quarter ended 30 September 2026, filed 21 October 2026. Its largest: iShares Trust (14.5%), iShares Inc. (7.7%) and Technology Select Sector SPDR ETF (5.3%). Against the quarter before, it opened 24 positions, added to 47, trimmed 49 and sold out of 35.
Reported holdings$123.6M-0.0% on Q2 2026
Positions129-11 on Q2 2026
The largest ten45.5%of its reported holdings
Latest 13FQ3 2026filed 21 October 2026
OpenedAdded toHeldTrimmed
The 14 largest of its 129 positions, each sized by its share of the reported holdings, coloured by the change in shares against Q2 2026.
What the fund reported holding at each quarter's end; hover a bar for the number of positions
What its reported holdings returned
Held through each quarter, the holdings it reported returned +23.5% over the 8 quarters to 30 September 2026, against +32.9% for the S&P 500.
Its reported holdingsThe S&P 500
Not the fund's own return: each 13F's holdings are kept unchanged until the next one, so trades inside a quarter, dividends, cash and fees are left out. A rough guide to how its picks have done over time.
What it did on the quarter
Opened 24Added 47Held 9Trimmed 49Sold out 35
Its positions against its 13F for the quarter to 30 June 2026; a change under 0.1% of a position counts as held
Opened 24
- ONEOK Inc. OKE$4.5 million
- Invesco Exch Traded FD Trust II QQQM$2.1 million
- Dimensional ETF Trust DFUV$1.2 million
- 2023 ETF Series Trust PQUS$953,436
- ExxonMobil Holdings Corp. XOM$712,640
- PIMCO ETF Trust SPLS$527,228
- iShares Trust IBB$313,269
- iShares Trust ICSH$299,537
and 16 more in the table below
Added to 47
- iShares Trust ITOT+33,288 shares · +45%
- SPDR S&P 500 SPY+1,069 shares · +269%
- iShares Trust ACWX+10,619 shares · +114%
- iShares A.i. Innovation and Tech Active ETF BAI+13,601 shares · +157%
- Financial Select Sector SPDR ETF XLF+7,576 shares · +18%
- Select Sector SPDR Trust XLV+2,255 shares · +29%
- iShares Core Total USD Bond Market ETF IUSB+8,605 shares · +41%
- SPDR Ser Trust SPYM+3,533 shares · +12%
and 39 more in the table below
Trimmed 49
- Invesco Exch Traded FD Trust II SPMO-8,123 shares · -58%
- Microsoft Corp. MSFT-1,869 shares · -48%
- Apple Inc. AAPL-2,335 shares · -22%
- SPDR Ser Trust BIL-7,414 shares · -63%
- Select Sector SPDR Trust XLE-9,182 shares · -50%
- Amazon.com Inc. AMZN-1,979 shares · -31%
- Schwab Strategic Trust SCHD-10,803 shares · -23%
- Schwab Strategic Trust SCHB-11,428 shares · -29%
and 41 more in the table below
Sold out of 35
- ONEOK Inc. OKE$4.5 million last quarter
- SPDR Ser Trust FLRN$920,441 last quarter
- Invesco Actively Managed Exc GSY$919,651 last quarter
- Vaneck ETF Trust CLOI$655,680 last quarter
- Select Sector SPDR Trust XLU$598,413 last quarter
- ExxonMobil Holdings Corp. XOM$591,469 last quarter
- Invesco Dorsey PTF$500,394 last quarter
- Invesco Exchange Traded FD T PSI$494,126 last quarter
What it holds
| Company | Shares | Value | Of its book | Change in shares |
|---|---|---|---|---|
| iShares Trust ITOT | 108.1K | $18.0 million | 14.54% | +33.3K |
| iShares Inc. URTH | 46.2K | $9.5 million | 7.71% | no change |
| Technology Select Sector SPDR ETF XLK | 33.7K | $6.6 million | 5.33% | +237 |
| NVIDIA Corp. NVDA | 22.0K | $5.0 million | 4.07% | -496 |
| ONEOK Inc. OKE | 52.5K | $4.5 million | 3.63% | new |
| SPDR Ser Trust SPYM | 31.8K | $2.9 million | 2.31% | +3.5K |
| Apple Inc. AAPL | 8.3K | $2.8 million | 2.24% | -2.3K |
| Financial Select Sector SPDR ETF XLF | 50.5K | $2.7 million | 2.18% | +7.6K |
| Alphabet Inc. GOOGL | 6.4K | $2.2 million | 1.78% | +413 |
| Invesco Exch Traded FD Trust II QQQM | 7.0K | $2.1 million | 1.73% | new |
| Berkshire Hathaway Inc. Class B BRKB | 3.7K | $1.8 million | 1.49% | -348 |
| Walmart Inc. WMT | 16.5K | $1.7 million | 1.39% | -371 |
| Select Sector SPDR Trust XLI | 10.2K | $1.7 million | 1.38% | -281 |
| Select Sector SPDR Trust XLV | 10.1K | $1.7 million | 1.38% | +2.3K |
| iShares Trust ACWX | 19.9K | $1.5 million | 1.22% | +10.6K |
| Broadcom Inc. AVGO | 4.2K | $1.5 million | 1.19% | +526 |
| Select Sector SPDR Trust XLC | 12.2K | $1.4 million | 1.10% | -1.3K |
| Select Sector SPDR Trust XLY | 12.1K | $1.3 million | 1.07% | -1.1K |
| iShares Core Total USD Bond Market ETF IUSB | 29.6K | $1.3 million | 1.05% | +8.6K |
| JPMorgan Chase & Co. JPM | 3.9K | $1.3 million | 1.05% | +168 |
| Advanced Micro Devices Inc. AMD | 2.1K | $1.3 million | 1.05% | +170 |
| Dimensional ETF Trust DFUV | 22.4K | $1.2 million | 1.00% | new |
| Eli Lilly & Co. LLY | 1.0K | $1.2 million | 0.94% | +170 |
| Schwab Strategic Trust SCHD | 35.8K | $1.2 million | 0.94% | -10.8K |
| SPDR S&P 500 SPY | 1.5K | $1.1 million | 0.91% | +1.1K |
| Amazon.com Inc. AMZN | 4.5K | $1.1 million | 0.90% | -2.0K |
| iShares S&P Growth Index FD IVW | 7.7K | $1.1 million | 0.88% | +857 |
| ASML Holding N.V. ASML | 583 | $1.1 million | 0.85% | -125 |
| iShares A.i. Innovation and Tech Active ETF BAI | 22.3K | $1.1 million | 0.85% | +13.6K |
| Microsoft Corp. MSFT | 2.0K | $1.1 million | 0.85% | -1.9K |
| GE Vernova Inc. GEV | 1.1K | $1.0 million | 0.83% | +71 |
| BlackRock ETF Trust DYNF | 14.7K | $1.0 million | 0.82% | +1.3K |
| 2023 ETF Series Trust PQUS | 33.4K | $953,436 | 0.77% | new |
| Palantir Technologies Inc. PLTR | 4.9K | $919,606 | 0.74% | +787 |
| Invesco Exch Traded FD Trust II SPMO | 5.9K | $895,474 | 0.72% | -8.1K |
| iShares S&P 500 Value ETF IVE | 3.9K | $882,661 | 0.71% | +452 |
| Meta Platforms, Inc. META | 1.2K | $863,058 | 0.70% | -204 |
| Schwab Strategic Trust SCHB | 28.0K | $820,215 | 0.66% | -11.4K |
| Micron Technology Inc. MU | 757 | $806,322 | 0.65% | +236 |
| Yandex N V NBIS | 3.4K | $795,205 | 0.64% | -516 |
| Tesla, Inc. TSLA | 2.2K | $765,325 | 0.62% | -451 |
| Roundhill ETF Trust DRAM | 12.3K | $740,315 | 0.60% | -4.0K |
| BlackRock ETF Trust CORO | 19.7K | $714,687 | 0.58% | +2.1K |
| ExxonMobil Holdings Corp. XOM | 4.4K | $712,640 | 0.58% | new |
| Taiwan Semiconductor Manufacturing Company Limited TSM | 1.5K | $693,865 | 0.56% | -198 |
| Lowe's Companies Inc. LOW | 3.6K | $666,505 | 0.54% | +56 |
| Amphenol Corp. APH | 7.9K | $665,470 | 0.54% | +226 |
| Schwab Strategic Trust SCHZ | 29.7K | $655,406 | 0.53% | +9.2K |
| Applied Materials Inc. AMAT | 1.1K | $569,691 | 0.46% | -87 |
| Select Sector SPDR Trust XLE | 9.1K | $562,664 | 0.46% | -9.2K |
| PIMCO ETF Trust SPLS | 9.6K | $527,228 | 0.43% | new |
| First Trust ETFs FTXL | 2.1K | $523,811 | 0.42% | +166 |
| BlackRock ETF Trust BLCR | 10.4K | $511,548 | 0.41% | +3.4K |
| iShares Silver Trust SLV | 9.3K | $505,035 | 0.41% | no change |
| Kensington Credit Opportunities ETF KAMO | 21.1K | $504,786 | 0.41% | -938 |
| Abrdn Silver ETF Trust SIVR | 8.7K | $498,597 | 0.40% | no change |
| Costco Wholesale Corp. COST | 512 | $466,234 | 0.38% | -78 |
| iShares Trust GOVT | 21.2K | $464,631 | 0.38% | +3.3K |
| Marvell Technology, Inc. MRVL | 1.7K | $460,531 | 0.37% | +354 |
| Abrdn Precious Metals Basket GLTR | 2.4K | $451,778 | 0.37% | no change |
| Schwab Strategic Trust SCHG | 12.5K | $447,595 | 0.36% | -7.0K |
| iShares Trust IYW | 1.7K | $438,408 | 0.35% | -745 |
| Lam Research Corp. LRCX | 1.3K | $437,929 | 0.35% | -348 |
| Arista Networks, Inc. ANET | 2.1K | $432,832 | 0.35% | +132 |
| Visa Inc. V | 1.2K | $423,009 | 0.34% | +46 |
| Vaneck ETF Trust REMX | 6.6K | $422,510 | 0.34% | -44 |
| Duke Energy Corp. DUK | 3.6K | $405,731 | 0.33% | -439 |
| Kensington Hedged Premium Income ETF KHPI | 15.7K | $405,731 | 0.33% | +512 |
| General Electric Co. GE | 1.3K | $393,518 | 0.32% | +104 |
| SPDR Ser Trust BIL | 4.3K | $392,677 | 0.32% | -7.4K |
| Goldman Sachs Group Inc. GS | 432 | $389,235 | 0.32% | -259 |
| Dell Technologies Inc. DELL | 719 | $386,897 | 0.31% | -83 |
| Johnson Controls International plc JCI | 2.6K | $383,517 | 0.31% | -82 |
| Bondbloxx ETF Trust XTEN | 9.0K | $381,577 | 0.31% | +1.5K |
| Royal Bank of Canada RY | 1.9K | $368,999 | 0.30% | +22 |
| iShares Gold Trust IAU | 4.6K | $356,136 | 0.29% | no change |
| BlackRock ETF Trust IALT | 11.7K | $350,283 | 0.28% | +1.1K |
| SPDR Gold Trust GLD | 901 | $343,137 | 0.28% | +6 |
| Invesco Exchange Traded FD T KNCT | 1.6K | $336,066 | 0.27% | -423 |
| HSBC Holdings plc HSBC | 3.4K | $332,887 | 0.27% | no change |
| Global X FDS SHLD | 5.5K | $330,201 | 0.27% | +180 |
| iShares Trust VLUE | 1.7K | $330,128 | 0.27% | -46 |
| Coca-Cola Co. KO | 3.8K | $324,720 | 0.26% | -5 |
| Applied Optoelectronics, Inc. AAOI | 3.3K | $323,091 | 0.26% | -951 |
| iShares Trust IBB | 1.5K | $313,269 | 0.25% | new |
| AbbVie Inc. ABBV | 1.2K | $312,768 | 0.25% | -87 |
| Intel Corp. INTC | 2.5K | $305,384 | 0.25% | +235 |
| iShares Trust ICSH | 5.9K | $299,537 | 0.24% | new |
| SPDR Ser Trust XBI | 1.9K | $298,908 | 0.24% | new |
| Alphabet Inc. GOOG | 871 | $296,785 | 0.24% | -100 |
| BlackRock ETF Trust THRO | 6.7K | $295,429 | 0.24% | +790 |
| Banco Santander, S.A. SAN | 20.9K | $288,964 | 0.23% | +1 |
| Invesco Exchange Traded FD T RSPT | 4.3K | $285,179 | 0.23% | new |
| iShares Trust PFF | 9.6K | $284,321 | 0.23% | new |
| Palo Alto Networks Inc. PANW | 707 | $280,898 | 0.23% | -515 |
| BlackRock ETF Trust II GGOV | 5.6K | $279,458 | 0.23% | +1.6K |
| First Trust Exchange Traded FD SKYY | 1.7K | $278,947 | 0.23% | new |
| Eaton Corp. plc ETN | 645 | $277,163 | 0.22% | new |
| iShares ETFs IEO | 2.1K | $273,504 | 0.22% | new |
| American Healthcare REIT, Inc. AHR | 5.3K | $271,063 | 0.22% | -4.6K |
| Tidal ETF Trust GRNY | 9.7K | $270,563 | 0.22% | -7.7K |
| Novartis AG NVS | 1.9K | $267,034 | 0.22% | +68 |
| SPDR Ser Trust XPH | 4.1K | $265,855 | 0.22% | new |
| AST SpaceMobile, Inc. ASTS | 4.5K | $263,693 | 0.21% | -950 |
| Cisco Systems, Inc. CSCO | 2.4K | $262,204 | 0.21% | +140 |
| Phillips 66 PSX | 1.0K | $260,756 | 0.21% | new |
| Fidelity Covington Trust FTEC | 866 | $259,788 | 0.21% | -281 |
| Emcor Group, Inc. EME | 336 | $253,518 | 0.21% | +16 |
| Alps ETF Trust SBIO | 4.3K | $251,574 | 0.20% | +241 |
| DoorDash, Inc. DASH | 1.4K | $249,628 | 0.20% | -314 |
| Analog Devices Inc. ADI | 624 | $247,547 | 0.20% | +103 |
| Philip Morris International Inc. PM | 1.3K | $244,250 | 0.20% | +25 |
| SPDR Ser Trust XTL | 1.1K | $233,167 | 0.19% | -174 |
| Canadian Imperial Bank of Commerce CM | 2.1K | $232,259 | 0.19% | -1 |
| Alkami Technology, Inc. ALKT | 16.9K | $230,677 | 0.19% | no change |
| Quanta Services, Inc. PWR | 357 | $229,380 | 0.19% | -26 |
| nVent Electric plc NVT | 1.4K | $225,320 | 0.18% | new |
| Archer-Daniels-Midland Co. ADM | 2.8K | $223,356 | 0.18% | new |
| Tower Semiconductor Ltd TSEM | 975 | $221,744 | 0.18% | -225 |
| Newmont Corp. NEM | 1.9K | $214,302 | 0.17% | -741 |
| Neos ETF Trust QQQI | 3.8K | $213,429 | 0.17% | -2.1K |
| Western Digital Corp. WDC | 469 | $213,144 | 0.17% | new |
| Deere & Co. DE | 317 | $212,881 | 0.17% | new |
| Citigroup Inc. C | 1.6K | $211,052 | 0.17% | +19 |
| Uber Technologies, Inc. UBER | 3.0K | $207,106 | 0.17% | new |
| iShares Trust IHE | 2.0K | $201,668 | 0.16% | new |
| Adma Biologics, Inc. ADMA | 12.7K | $127,822 | 0.10% | new |
| Sable Offshore Corp. SOC | 12.0K | $41,665 | 0.03% | new |
| iShares Trust TLT | 17 | $1,322 | 0.00% | -202 |
Every US-listed position in the fund's 13F for the quarter ended 30 September 2026, by the value it reported.
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Change is shares against its 13F for the quarter before; the 35 it sold out of are in the box above.Options it reported
| Company | Option | Shares under the options | Value of those shares |
|---|---|---|---|
| iShares Trust TLT | Calls | 24.0K | $1.9 million |
| ARK Investment Management LLC ARKG | Calls | 5.0K | $271,100 |
| Tesla, Inc. TSLA | Calls | 500 | $177,405 |
3 option lines. A 13F lists calls and puts by the shares they cover and what those shares were worth at the quarter's end, not what the options cost; they are not counted in the holdings above.