Fulcrum Equity Management Q4 2025 Filing

Filed January 6, 2026

Portfolio Value

$104.5M

Holdings

117

Report Date

Q4 2025

Filing Type

13F-HR

All Holdings (117 positions)

#	Stock	Shares	Value	% Portfolio
1	ITOTISHARES TR	77,685	$11.6M	11.05%
2	URTHISHARES INC	46,192	$8.6M	8.21%
3	XLKSELECT SECTOR SPDR TR	40,465	$5.8M	5.57%
4	NVDANVIDIA CORPORATION	21,109	$3.9M	3.77%
5	OKEONEOK INC NEW	50,889	$3.7M	3.58%
6	AAPLAPPLE INC	9,168	$2.5M	2.38%
7	XLCSELECT SECTOR SPDR TR	19,313	$2.3M	2.18%
8	XLFSELECT SECTOR SPDR TR	38,363	$2.1M	2.01%
9	BRK/BBERKSHIRE HATHAWAY INC DEL	4,031	$2.0M	1.94%
10	WMTWALMART INC	16,775	$1.9M	1.79%
11	GOOGLALPHABET INC	5,797	$1.8M	1.74%
12	IYWISHARES TR	8,744	$1.7M	1.67%
13	MSFTMICROSOFT CORP	3,568	$1.7M	1.65%
14	QQQMINVESCO EXCH TRADED FD TR II	6,804	$1.7M	1.65%
15	XLYSELECT SECTOR SPDR TR	14,251	$1.7M	1.63%
16	XLVSELECT SECTOR SPDR TR	10,717	$1.7M	1.59%
17	AMZNAMAZON COM INC	7,126	$1.6M	1.57%
18	DYNFBLACKROCK ETF TRUST	20,291	$1.2M	1.18%
19	METAMETA PLATFORMS INC	1,846	$1.2M	1.17%
20	SPYMSPDR SERIES TRUST	14,758	$1.2M	1.13%
21	JPMJPMORGAN CHASE & CO.	3,674	$1.2M	1.13%
22	TSLATESLA INC	2,504	$1.1M	1.08%
23	SCHBSCHWAB STRATEGIC TR	42,025	$1.1M	1.05%
24	AVGOBROADCOM INC	3,059	$1.1M	1.01%
25	XLGINVESCO EXCHANGE TRADED FD T	17,832	$1.1M	1.01%
26	XLISELECT SECTOR SPDR TR	6,687	$1.0M	0.99%
27	IVEISHARES TR	4,747	$1.0M	0.96%
28	IVVISHARES TR	1,396	$956K	0.91%
29	GRNYTIDAL TRUST I	37,968	$940K	0.90%
30	SCHGSCHWAB STRATEGIC TR	27,245	$888K	0.85%
31	LOWLOWES COS INC	3,526	$850K	0.81%
32	XLUSELECT SECTOR SPDR TR	19,910	$849K	0.81%
33	LLYELI LILLY & CO	764	$821K	0.79%
34	FTECFIDELITY COVINGTON TRUST	3,547	$796K	0.76%
35	SPYSPDR S&P 500 ETF TR	1,159	$790K	0.76%
36	IVWISHARES TR	6,038	$744K	0.71%
37	SILASILA REALTY TRUST INC	30,677	$715K	0.68%
38	ASMLASML HOLDING N V	633	$677K	0.65%
39	EFVISHARES TR	8,995	$642K	0.61%
40	GEVGE VERNOVA INC	968	$632K	0.60%
41	KAMOMANAGED PORTFOLIO SERIES	25,065	$627K	0.60%
42	GSGOLDMAN SACHS GROUP INC	688	$604K	0.58%
43	SLVISHARES SILVER TR	9,258	$596K	0.57%
44	SIVRABRDN SILVER ETF TRUST	8,700	$588K	0.56%
45	REMXVANECK ETF TRUST	7,680	$567K	0.54%
46	APHAMPHENOL CORP NEW	4,137	$559K	0.53%
47	IUSBISHARES TR	11,581	$538K	0.51%
48	XTENBONDBLOXX ETF TRUST	11,333	$523K	0.50%
49	COSTCOSTCO WHSL CORP NEW	603	$520K	0.50%
50	XOMEXXON MOBIL CORP	4,242	$510K	0.49%
51	IWCISHARES TR	3,226	$508K	0.49%
52	GLTRABRDN PRECIOUS METALS BASKET	2,425	$498K	0.48%
53	IEMGISHARES INC	7,123	$478K	0.46%
54	AHRAMERICAN HEALTHCARE REIT INC	9,905	$466K	0.45%
55	DUKDUKE ENERGY CORP NEW	3,947	$462K	0.44%
56	KHPIMANAGED PORTFOLIO SERIES	16,839	$432K	0.41%
57	PLTRPALANTIR TECHNOLOGIES INC	2,393	$425K	0.41%
58	SCHZSCHWAB STRATEGIC TR	18,077	$422K	0.40%
59	VVISA INC	1,165	$408K	0.39%
60	ANETARISTA NETWORKS INC	3,061	$401K	0.38%
61	NFLXNETFLIX INC	4,277	$401K	0.38%
62	SBIOALPS ETF TR	7,498	$384K	0.37%
63	THROBLACKROCK ETF TRUST	9,831	$379K	0.36%
64	BAIBLACKROCK ETF TRUST	11,375	$378K	0.36%
65	ORCLORACLE CORP	1,938	$377K	0.36%
66	QUALISHARES TR	1,890	$375K	0.36%
67	KLMNINVESCO EXCH TRADED FD TR II	3,146	$375K	0.36%
68	IAU*ISHARES GOLD TR	4,466	$362K	0.35%
69	SPYGSPDR SERIES TRUST	3,375	$360K	0.34%
70	GQ9SPDR GOLD TR	895	$354K	0.34%
71	GEGE AEROSPACE	1,152	$354K	0.34%
72	VONGVANGUARD SCOTTSDALE FDS	2,891	$352K	0.34%
73	AVEMAMERICAN CENTY ETF TR	4,531	$348K	0.33%
74	PKBINVESCO EXCHANGE TRADED FD T	3,716	$344K	0.33%
75	FTXLFIRST TR EXCHANGE TRADED FD	2,652	$343K	0.33%
76	XBISPDR SERIES TRUST	2,741	$334K	0.32%
77	BBPETFIS SER TR I	4,152	$331K	0.32%
78	AIRRFIRST TR EXCHANGE TRADED FD	3,283	$322K	0.31%
79	JCIJOHNSON CTLS INTL PLC	2,651	$317K	0.30%
80	FYCFIRST TR EXCHANGE-TRADED ALP	3,274	$314K	0.30%
81	DASHDOORDASH INC	1,386	$313K	0.30%
82	PPAINVESCO EXCHANGE TRADED FD T	1,983	$310K	0.30%
83	RYROYAL BK CDA	1,821	$310K	0.30%
84	PSIINVESCO EXCHANGE TRADED FD T	3,937	$310K	0.30%
85	ITA*ISHARES TR	1,433	$307K	0.29%
86	KNCTINVESCO EXCHANGE TRADED FD T	2,272	$304K	0.29%
87	ABBVABBVIE INC	1,311	$299K	0.29%
88	TSMTAIWAN SEMICONDUCTOR MFG LTD	982	$298K	0.29%
89	MBBISHARES TR	3,081	$293K	0.28%
90	GLDMWORLD GOLD TR	3,233	$276K	0.26%
91	KOCOCA COLA CO	3,872	$270K	0.26%
92	MAMASTERCARD INCORPORATED	465	$265K	0.25%
93	ILCGISHARES TR	2,530	$263K	0.25%
94	HBC2HSBC HLDGS PLC	3,352	$263K	0.25%
95	IAGGISHARES TR	5,193	$259K	0.25%
96	GURUGLOBAL X FDS	4,131	$258K	0.25%
97	CSDINVESCO EXCHANGE TRADED FD T	2,596	$258K	0.25%
98	AMATAPPLIED MATLS INC	1,004	$258K	0.25%
99	VLUEISHARES TR	1,857	$253K	0.24%
100	NVSNNOVARTIS AG	1,805	$248K	0.24%

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