Fulcrum Equity Management

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CIK 1737888

13F portfolio (2026-Q1)

$103M

Positions

123

Implied 1Y CAGR

modeled · as filed

Long positions in SEC Section 13(f) securities (US-listed stocks, ADRs and ETFs), largest first · Δ vs 2025-Q4. A lagged quarterly snapshot (filed ≤45 days after quarter-end); excludes shorts, options, cash, and shares listed only on non-US exchanges — foreign companies held via a US listing or ADR (e.g. Alibaba, TSMC) ARE included.

Implied return what this book implies · modeled, not advice methodology →

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As filed = each book applied at its quarter-end (what the reported book did) · As copyable = applied at its statutory 45-day filing deadline (what a 13F follower could have earned).

Computing…

Hypothetical modeled performance constructed with hindsight — not actual results, and not indicative of future results. See the Disclaimer.

Exposures · what this manager owns, by sector & size (2026-Q1)

Holdings

123

Top 5

31.3%

Top 10

41.8%

Effective N

34.0

HHI

0.029

This quarter

33 new · 0 exit →

By sector

Unclassified61.1%

Information Technology12.6%

Consumer Discretionary6.0%

Utilities5.0%

Financials4.9%

Communication Services3.6%

Industrials2.2%

Health Care1.4%

Other3.1%

By market cap

Unknown64.2%

Mega (>$200B)25.7%

Large ($10–200B)9.1%

Small ($300M–2B)1.0%

By region

Other61.1%

North America36.6%

Europe1.7%

Asia-Pacific0.6%

By industry group GICS — finer than sector

Industry group	Weight	Names
Unclassified	63.02%	70
Semiconductors & Semiconductor Equipment	6.58%	7
Utilities	5.04%	2
Specialty Retail	5.03%	5
Technology Hardware & Equipment	2.81%	2
Software & IT Services	2.47%	2
Software	2.02%	4
Banks	1.86%	4
Machinery	1.58%	3
Pharmaceuticals & Biotechnology	1.37%	3
Oil, Gas & Consumable Fuels	1.28%	3
Equity Real Estate Investment Trusts (REITs)	1.16%	2
Electrical Equipment & Components	1.16%	2
Automobiles & Components	0.95%	1
Diversified Telecommunication Services	0.79%	3
Commercial Services & Supplies	0.76%	3
Capital Markets	0.58%	1
Media & Entertainment	0.38%	1
Beverages	0.29%	1
Construction & Engineering	0.24%	1
Metals & Mining	0.21%	1
Tobacco	0.20%	1
Aerospace & Defense	0.20%	1

Top holdings

#	Ticker	Name	Sector	Weight
1	ITOT	ISHARES TR	Unclassified	10.36%
2	URTH	ISHARES INC	Unclassified	8.09%
3	OKE	ONEOK INC /NEW/	Utilities	4.54%
4	XLK	SELECT SECTOR SPDR TR	Unclassified	4.50%
5	NVDA	NVIDIA CORP	Information Technology	3.86%
6	AAPL	Apple Inc.	Information Technology	2.58%
7	SCHD	SCHWAB STRATEGIC TR	Unclassified	2.27%
8	WMT	Walmart Inc.	Consumer Discretionary	2.04%
9	BRK.B	BERKSHIRE HATHAWAY INC	Financials	1.88%
10	XLE	SELECT SECTOR SPDR TR	Unclassified	1.73%

54/123 names classified · sector 38.9% of weight · industry 37.0% · mkt cap 35.8%; unclassified names shown, never dropped.

Sector allocation over time · how the GICS mix & top names shifted quarter by quarter

top 5/sector, rest → “Other” · 30 quarters

Information TechnologyNVDA, AAPL, MSFT, VEEV, VRSK · other

UtilitiesOKE, DUK, VST, TRGP, WTRG · other

Consumer DiscretionaryWMT, LOW, AMZN, LULU, TSLA · other

Health CareABBV, JNJ, ZTS, IDXX, TECH · other

IndustrialsASML, ROL, TRU, GPN, BALL · other

FinancialsBRK.B, JPM, V, PYPL, MA · other

EnergyVLO, XOM, COP, PSX, CVX · other

MaterialsPG, KMB, ENTG, CLX, IP · other

Communication ServicesGOOGL, META, NXST, NFLX, ASTS · other

Real EstateSILA, CUBE, AHR, DLR, MPT · other

Consumer StaplesINGR, PEP, CAG, KO, CVS · other

UnclassifiedSPY, SHY, IEF, QTEC, FXL · other

Sector is classified on each name's CURRENT fundamentals, not point-in-time — apparent sector drift can reflect the market re-rating a holding, not a manager trade. 13F is a lagged quarterly snapshot of long positions in US-listed securities only — foreign companies held via a US listing or ADR ARE included, but shares listed only on non-US exchanges (plus shorts, options and cash) are not. Latest quarter: 38.9% of the book is sector-classified (unclassified names shown, never dropped).

Style box · size × value-growth placement of the reported book (2026-Q1), classified on current fundamentals (not point-in-time) — load it into PORT to overlay your own portfolio

Only 34% of book weight classified — the grid is NOT representative of the whole book.

holdings, colored by sector (43 classified)Fulcrum Equity Management centroid (Large Growth)

Information TechnologyConsumer DiscretionaryUtilitiesCommunication ServicesFinancialsIndustrialsReal EstateHealth CareEnergyConsumer StaplesMaterials

Style box summary for Fulcrum Equity Management: centroid Large Growth. Heaviest cells: Large Growth 20.8%, Mid Core 4.5%, Large Core 3.6%.

Classified: 33.6% of book weight (43/123 names) · unclassified 66.4%: ITOT, URTH, XLK, SCHD, BRK.B, XLE, XLC, XLV, SPYM, XLI +70 more. Size: cap 70/20/10 bands; style: value/growth composite on our own metrics — not Morningstar's model.

Contribution holdings-based, any period

No contribution data for this period.

Holdings· 123 positions (2026-Q1) · largest first · Δ vs 2025-Q4

#	Security	Shares	Value	Weight	Δ QoQ
1	ITOTISHARES TR	74,708	$11M	10.4%	TRIM −4%
2	URTHISHARES INC	46,192	$8M	8.1%	HOLD
3	OKEONEOK INC NEW	51,550	$5M	4.5%	HOLD
4	XLKSELECT SECTOR SPDR TR	34,759	$5M	4.5%	TRIM −14%
5	NVDANVIDIA CORPORATION	22,738	$4M	3.9%	ADD 8%
6	AAPLAPPLE INC	10,426	$3M	2.6%	ADD 14%
7	SCHDSCHWAB STRATEGIC TR	76,153	$2M	2.3%	NEW
8	WMTWALMART INC	16,832	$2M	2.0%	HOLD
9	BRK.BBERKSHIRE HATHAWAY INC DEL	4,030	$2M	1.9%	HOLD
10	XLESELECT SECTOR SPDR TR	29,055	$2M	1.7%	NEW
11	XLCSELECT SECTOR SPDR TR	16,005	$2M	1.7%	TRIM −17%
12	GOOGLALPHABET INC	5,838	$2M	1.6%	HOLD
13	XLVSELECT SECTOR SPDR TR	9,854	$1M	1.4%	TRIM −8%
14	SPYMSPDR SERIES TRUST	18,789	$1M	1.4%	ADD 27%
15	AMZNAMAZON COM INC	6,806	$1M	1.4%	TRIM −4%
16	XLISELECT SECTOR SPDR TR	8,736	$1M	1.4%	ADD 31%
17	XLFSELECT SECTOR SPDR TR	28,312	$1M	1.4%	TRIM −26%
18	XLYSELECT SECTOR SPDR TR	11,383	$1M	1.2%	TRIM −20%
19	MSFTMICROSOFT CORP	3,319	$1M	1.2%	TRIM −7%
20	SPLVINVESCO EXCH TRADED FD TR II	15,440	$1M	1.1%	NEW
21	JPMJPMORGAN CHASE & CO	3,746	$1M	1.1%	HOLD
22	TSLATESLA INC	2,621	$974,357	0.9%	ADD 5%
23	AVGOBROADCOM INC	3,124	$966,861	0.9%	ADD 2%
24	ASMLASML HOLDING N V	676	$892,881	0.9%	ADD 7%
25	XLPSELECT SECTOR SPDR TR	10,783	$883,952	0.9%	NEW
26	IVEISHARES TR	4,075	$860,371	0.8%	TRIM −14%
27	METAMETA PLATFORMS INC	1,499	$857,702	0.8%	TRIM −19%
28	GEVGE VERNOVA INC	970	$846,713	0.8%	HOLD
29	LLYELI LILLY & CO	915	$842,012	0.8%	ADD 20%
30	LOWLOWES COS INC	3,544	$837,277	0.8%	HOLD
31	XLUSELECT SECTOR SPDR TR	17,618	$808,476	0.8%	TRIM −12%
32	LDURPIMCO ETF TR	8,362	$801,235	0.8%	NEW
33	AVSFAMERICAN CENTY ETF TR	17,107	$800,603	0.8%	NEW
34	BILSPDR SERIES TRUST	8,452	$774,541	0.8%	NEW
35	DYNFBLACKROCK ETF TRUST	13,303	$773,989	0.8%	TRIM −34%
36	XOMEXXON MOBIL CORP	4,422	$750,260	0.7%	ADD 4%
37	SILASILA REALTY TRUST INC	30,802	$729,391	0.7%	HOLD
38	LSTLEUTHOLD SELECT INDUSTRIES ETF	17,802	$720,096	0.7%	NEW
39	IVWISHARES TR	6,222	$703,772	0.7%	ADD 3%
40	SCHBSCHWAB STRATEGIC TR	27,885	$699,923	0.7%	TRIM −34%
41	GSYINVESCO ACTIVELY MANAGED EXC	13,687	$685,999	0.7%	NEW
42	SLVISHARES SILVER TR	9,335	$636,087	0.6%	HOLD
43	REMXVANECK ETF TRUST	7,100	$624,800	0.6%	TRIM −8%
44	SIVRABRDN SILVER ETF TRUST	8,700	$623,007	0.6%	HOLD
45	COSTCOSTCO WHSL CORP NEW	610	$607,919	0.6%	HOLD
46	GSGOLDMAN SACHS GROUP INC	706	$597,464	0.6%	ADD 3%
47	APHAMPHENOL CORP	4,606	$581,990	0.6%	ADD 11%
48	KAMOKENSINGTON CREDIT OPPORTUNITIES ETF	23,369	$576,721	0.6%	TRIM −7%
49	COROBLACKROCK ETF TRUST	17,363	$558,273	0.5%	NEW
50	XLBSELECT SECTOR SPDR TR	11,128	$556,066	0.5%	NEW
51	IUSBISHARES TR	11,735	$542,059	0.5%	HOLD
52	XTENBONDBLOXX ETF TRUST	11,610	$532,448	0.5%	ADD 2%
53	GLTRABRDN PRECIOUS METALS BASKET	2,425	$530,396	0.5%	HOLD
54	DUKDUKE ENERGY CORP NEW	3,972	$520,066	0.5%	HOLD
55	ACWXISHARES TR	7,589	$519,619	0.5%	NEW
56	AHRAMERICAN HEALTHCARE REIT INC	9,905	$467,120	0.5%	HOLD
57	KHPIMANAGED PORTFOLIO SERIES	18,131	$438,954	0.4%	ADD 8%
58	SCHZSCHWAB STRATEGIC TR	18,254	$423,866	0.4%	HOLD
59	XESSPDR SERIES TRUST	3,635	$422,894	0.4%	NEW
60	PXJINVESCO EXCHANGE TRADED FD T	10,147	$420,532	0.4%	NEW
61	AMATAPPLIED MATLS INC	1,203	$411,173	0.4%	ADD 20%
62	IAUISHARES GOLD TR	4,560	$402,010	0.4%	ADD 2%
63	NFLXNETFLIX INC	4,081	$392,388	0.4%	TRIM −5%
64	TSMTAIWAN SEMICONDUCTOR MFG LTD	1,155	$390,332	0.4%	ADD 18%
65	AVEMAMERICAN CENTY ETF TR	4,804	$387,102	0.4%	ADD 6%
66	GLDSPDR GOLD TR	895	$385,110	0.4%	HOLD
67	BAIBLACKROCK ETF TRUST	11,543	$380,355	0.4%	HOLD
68	LRCXLAM RESEARCH CORP	1,768	$377,757	0.4%	ADD 31%
69	GOVTISHARES TR	16,000	$366,569	0.4%	NEW
70	QUALISHARES TR	1,890	$362,457	0.4%	HOLD
71	THROBLACKROCK ETF TRUST	9,833	$356,157	0.3%	HOLD
72	IYWISHARES TR	1,940	$351,996	0.3%	TRIM −78%
73	JCIJOHNSON CONTROLS INTERNATION	2,686	$351,732	0.3%	HOLD
74	SPMOInvesco ETF Trust II - S&P500 Momentum ETF	3,130	$350,958	0.3%	HOLD
75	GEGE AEROSPACE	1,230	$349,046	0.3%	ADD 7%
76	FTXLFIRST TR EXCHANGE TRADED FD	2,318	$341,845	0.3%	TRIM −13%
77	ASTSAST SPACEMOBILE INC	4,094	$339,270	0.3%	NEW
78	VVISA INC	1,109	$335,218	0.3%	TRIM −5%
79	PLTRPALANTIR TECHNOLOGIES INC	2,247	$328,691	0.3%	TRIM −6%
80	MOOVANECK ETF TRUST	3,813	$322,199	0.3%	NEW
81	EFVISHARES TR	4,142	$307,950	0.3%	TRIM −54%
82	RSPGINVESCO EXCHANGE TRADED FD T	2,788	$305,202	0.3%	NEW
83	TTETotalEnergies SE	3,343	$304,146	0.3%	HOLD
84	RYROYAL BK CDA	1,846	$298,646	0.3%	HOLD
85	PSIINVESCO EXCHANGE TRADED FD T	3,164	$298,619	0.3%	TRIM −20%
86	KOCOCA COLA CO	3,901	$296,670	0.3%	HOLD
87	ABBVABBVIE INC	1,355	$294,648	0.3%	ADD 3%
88	MBBISHARES TR	3,088	$293,236	0.3%	HOLD
89	SHLDGLOBAL X FDS	4,138	$293,107	0.3%	NEW
90	ROKTSPDR SERIES TRUST	2,926	$291,020	0.3%	NEW
91	GRNYTidal TR Fundstrat Granny Shots US LC ETF	11,875	$283,456	0.3%	TRIM −69%
92	NBISNEBIUS GROUP N.V.	2,727	$282,954	0.3%	TRIM −4%
93	HSBCHSBC HLDGS PLC	3,352	$276,506	0.3%	HOLD
94	NVSNOVARTIS AG	1,805	$275,714	0.3%	HOLD
95	BLCRBLACKROCK ETF TRUST	6,632	$272,311	0.3%	NEW
96	IAGGISHARES TR	5,322	$266,309	0.3%	ADD 2%
97	KNCTINVESCO EXCHANGE TRADED FD T	1,910	$264,688	0.3%	TRIM −16%
98	ALKTALKAMI TECHNOLOGY INC	16,850	$264,040	0.3%	NEW
99	ENBENBRIDGE INC	4,810	$260,413	0.3%	ADD 2%
100	ORCLORACLE CORP	1,759	$258,774	0.3%	TRIM −9%
101	XTLSPDR SERIES TRUST	1,354	$254,633	0.2%	NEW
102	FTXGFIRST TR EXCHANGE TRADED FD	11,418	$252,747	0.2%	NEW
103	VZVERIZON COMMUNICATIONS INC	4,973	$249,645	0.2%	HOLD
104	SCHGSCHWAB U.S. LARGE-CAP GROWTH ETF	8,481	$247,040	0.2%	TRIM −69%
105	EMEEMCOR GROUP INC	331	$244,384	0.2%	NEW
106	ANETARISTA NETWORKS INC	1,983	$243,473	0.2%	TRIM −35%
107	AMDADVANCED MICRO DEVICES INC	1,180	$240,047	0.2%	NEW
108	BBPETFIS SER TR I	2,889	$239,968	0.2%	TRIM −30%
109	CEFSPROTT ASSET MANAGEMENT LP	5,018	$239,459	0.2%	NEW
110	CTRACOTERRA ENERGY INC	6,723	$236,256	0.2%	NEW
111	SANBANCO SANTANDER S.A.	20,893	$235,673	0.2%	HOLD
112	CSDINVESCO EXCHANGE TRADED FD T	2,053	$231,316	0.2%	TRIM −21%
113	DASHDOORDASH INC	1,530	$229,730	0.2%	ADD 10%
114	CHTCHUNGHWA TELECOM CO LTD	5,374	$226,998	0.2%	HOLD
115	PSCTINVESCO EXCH TRADED FD TR II	3,608	$216,749	0.2%	TRIM −16%
116	NEMNEWMONT CORP	1,998	$216,326	0.2%	NEW
117	FCGFIRST TR EXCHANGE-TRADED FD	6,817	$216,031	0.2%	NEW
118	MAMASTERCARD INCORPORATED	426	$212,868	0.2%	TRIM −8%
119	CASYCASEYS GEN STORES INC	292	$212,545	0.2%	NEW
120	PMPHILIP MORRIS INTL INC	1,254	$207,336	0.2%	HOLD
121	RTXRTX CORPORATION	1,056	$203,702	0.2%	NEW
122	MRVLMARVELL TECHNOLOGY INC	2,031	$201,171	0.2%	NEW
123	BITFARMS LTD	30,500	$59,475	0.1%	TRIM −36%

Position trends· top 15 holdings · shares held over 6 quarters

green added · red trimmed

Security

2024-Q4

2025-Q1

2025-Q2

2025-Q3

2025-Q4

2026-Q1

Latest value

ITOTISHARES TR

81K

80K

79K

78K

75K

$11M

URTHISHARES INC

46K

$8M

OKEONEOK INC NEW

47K

48K

49K

50K

51K

52K

$5M

XLKSELECT SECTOR SPDR TR

17K

19K

21K

40K

35K

$5M

NVDANVIDIA CORPORATION

10K

11K

13K

21K

23K

$4M

AAPLAPPLE INC

10K

$3M

SCHDSCHWAB STRATEGIC TR

—

76K

$2M

WMTWALMART INC

15K

16K

17K

$2M

BRK.BBERKSHIRE HATHAWAY INC DEL

$2M

XLESELECT SECTOR SPDR TR

—

29K

$2M

XLCSELECT SECTOR SPDR TR

20K

33K

16K

20K

19K

16K

$2M

GOOGLALPHABET INC

$2M

XLVSELECT SECTOR SPDR TR

11K

10K

$1M

SPYMSPDR SERIES TRUST

26K

22K

13K

15K

19K

$1M

AMZNAMAZON COM INC

$1M

Shares reported each quarter by the largest current holdings. Green = added vs the prior filing of that name, red = trimmed, grey = roughly held; a dash is a quarter with no 13F on file (a gap is skipped, not read as an exit). 13F is filed up to 45 days after quarter-end. Up to 40 quarters (10 years) available — use the selector above.

☆Fulcrum Equity Management