Fulcrum Asset Management LLP

CIK

1353395

Location

LONDON, X0

Portfolio Value

Small $636,811,169

Diversification

Diversified

Filing Date

Global Rank

#2,294 / 8,623 ▲ 998 · as of Mar 2026

Top Industry

Oil & Gas Equipment & Services 16.1%

3Y Alpha vs SPY

-10.7%

Period ended 4 months ago

Filed May 14, 2026 · 3mo

16 quarters · since Jun 2020

Clone Performance

Jul 2023–Jul 2026 · vs SPY

Hypothetical growth of buying every stock this filer reported holding, rebalancing on each filing and indexed to the same start. Option positions cannot be bought this way and are left out.

Not a measure of this manager's performance. Most of Fulcrum Asset Management LLP's reported book is option positions, which a stock-only clone cannot replicate. The figures below are the return of the 56% that is ordinary stock — as little as 0% in one quarter — so a manager whose options thesis lost money can still show a large gain here.

Cloned portfolio

+25.4%

SPY

+65.3%

Annualised alpha

-10.4%

Max drawdown

−14.3%

Estimate. 13F holdings are quarter-lagged, so the clone rebalances about 45 days after each period end — when the filing becomes public — and it excludes option and short positions. It tracks 56% of reported value on average across 9 quarters. Past performance does not predict future results.

Portfolio Concentration

214 tracked positions · as of Mar 31, 2026 · Δ vs Dec 31, 2025

Top Position

8.1%

−3.7 pts

Top 5

22.7%

−12.5 pts

Top 10

35.6%

−11.9 pts

HHI

212

Diversified−147

Portfolio Trend

16 quarters · across all stocks

Sector Breakdown

As of Mar 31, 2026

Sector	% Portfolio	Value	Positions
Energy	29.5%	$188,054,254	51
Technology	22.3%	$141,904,121	30
Basic Materials	9.6%	$61,136,436	20
Industrials	9.2%	$58,648,704	17
Financial Services	7.5%	$47,972,586	17
Consumer Cyclical	5.5%	$35,079,314	17
Utilities	5.1%	$32,473,832	13
Consumer Defensive	4.0%	$25,204,347	3
Healthcare	3.6%	$22,954,677	12
Communication Services	3.1%	$19,502,676	5
Real Estate	0.4%	$2,369,940	28
Unclassified	0.2%	$1,510,282	1

Last Quarter's Activity

Export CSV

Mar 31, 2026 vs Dec 31, 2025

Added To

Positions the filer increased

25 positions

Ticker	Company	Δ Shares	Shares	Value
SLB	Slb Limited/Nv	+260,853	337,698	$17,354,300
KGC	Kinross Gold Corp	+148,346	175,316	$5,350,644
IAG	Iamgold Corp	+135,440	155,506	$2,926,622
NTR	Nutrien Ltd.	+86,110	91,990	$6,941,565
NEE	Nextera Energy Inc	+81,651	145,168	$13,483,203
NVDA	Nvidia Corp	+79,015	297,019	$51,800,113
WM	Waste Management Inc	+55,870	71,009	$16,317,158
MOS	Mosaic Co	+42,522	46,051	$1,174,300
APH	Amphenol Corp /De/	+38,576	53,150	$6,715,502
RSG	Republic Services, Inc.	+31,158	59,921	$13,123,897
WCN	Waste Connections, Inc.	+25,073	48,511	$7,880,126
AEM	Agnico Eagle Mines Ltd	+23,162	28,512	$5,787,365
AMZN	Amazon Com Inc	+22,152	106,427	$22,165,551
CTVA	Corteva, Inc.	+21,087	28,342	$2,372,508
CMG	Chipotle Mexican Grill Inc	+20,849	64,909	$2,077,737
AVGO	Broadcom Inc.	+19,424	71,950	$22,269,244
TDW	Tidewater Inc	+12,458	47,198	$3,943,392
MSFT	Microsoft Corp	+11,202	70,272	$26,012,586
CLH	Clean Harbors Inc	+8,986	15,555	$4,460,085
LRCX	Lam Research Corp	+8,108	15,104	$3,227,120
LEN	Lennar Corp /New/	+6,219	18,009	$1,563,901
LOW	Lowes Companies Inc	+6,055	9,010	$2,128,882
GOOGL	Alphabet Inc.	+5,483	50,344	$14,476,920
IBKR	Interactive Brokers Group, Inc.	+5,276	69,413	$4,655,529
BSX	Boston Scientific Corp	+4,292	42,851	$2,688,900
No positions match the current search.

Trimmed

Positions the filer reduced

13 positions

Ticker	Company	Δ Shares	Shares	Value
AEE	Ameren Corp	−32,794	7,980	$877,161
BKR	Baker Hughes Co	−25,840	87,946	$5,369,103
WEC	Wec Energy Group, Inc.	−13,843	3,046	$352,635
RY	Royal Bank Of Canada	−11,832	3	$485
ARES	Ares Management Corp	−10,455	5,106	$557,064
EVRG	Evergy, Inc.	−10,401	5,280	$432,537
WFG	West Fraser Timber Co., Ltd	−9,840	1,489	$97,216
ED	Consolidated Edison Inc	−9,281	31,473	$3,562,114
MU	Micron Technology Inc	−7,788	21,469	$7,253,086
AEP	American Electric Power Co Inc	−3,128	7,754	$1,016,394
PSA	Public Storage	−1,986	135	$36,568
OII	Oceaneering International Inc	−65	38,817	$1,376,838
NVR	Nvr Inc	−3	25	$164,745
No positions match the current search.

New Positions

Positions the filer opened this quarter

25 positions

Ticker	Company	Shares	Value
DAR	Darling Ingredients Inc.	365,718	$22,619,658
HAL	Halliburton Co	511,950	$19,960,930
LBRT	Liberty Energy Inc.	427,054	$12,299,155
PUMP	ProPetro Holding Corp.	827,700	$11,927,157
WHD	Cactus, Inc.	222,480	$10,538,877
PTEN	Patterson Uti Energy Inc	940,736	$10,188,170
HP	Helmerich & Payne, Inc.	272,480	$9,817,454
CF	CF Industries Holdings, Inc.	73,201	$9,504,417
DVN	Devon Energy Corp/De	181,714	$9,143,848
GPRE	Green Plains Inc.	544,756	$8,961,236
NOV	NOV Inc.	436,176	$8,204,470
FTI	TechnipFMC plc	107,502	$7,431,613
PBF	PBF Energy Inc.	152,598	$7,266,716
DINO	HF Sinclair Corp	95,270	$5,943,895
PSX	Phillips 66	27,667	$5,040,374
OSK	Oshkosh Corp	30,326	$4,464,290
RGLD	Royal Gold Inc	17,519	$4,458,410
CVX	Chevron Corp	21,286	$4,404,073
AA	Alcoa Corp	65,662	$4,355,360
NBR	Nabors Industries Ltd	49,420	$4,253,085
MPC	Marathon Petroleum Corp	17,110	$4,177,919
RES	Rpc Inc	552,228	$3,909,774
BTU	Peabody Energy Corp	102,484	$3,376,847
VLO	Valero Energy Corp/Tx	13,012	$3,215,004
DNOW	DNOW Inc.	231,120	$2,752,639
No positions match the current search.

Sold Out

Positions the filer fully exited

12 positions

Ticker	Company	Shares	Value
TRV	Travelers Companies, Inc.	17,596	$5,103,895
ATR	Aptargroup, Inc.	14,471	$1,764,883
CHD	Church & Dwight Co Inc /De/	11,509	$965,029
NOW	ServiceNow, Inc.	5,000	$765,950
LNT	Alliant Energy Corp	7,358	$478,343
NKE	NIKE, Inc.	6,304	$401,627
VALE	Vale S.A.	28,982	$377,635
FTNT	Fortinet, Inc.	3,351	$266,102
WDAY	Workday, Inc.	1,050	$225,519
NGD	New Gold Inc. /FI	18,592	$161,936
GIL	Gildan Activewear Inc.	2,225	$138,973
BR	Broadridge Financial Solutions, Inc.	480	$107,121
No positions match the current search.

Portfolio Positions

Compact Export CSV View 13F filing

214 tracked positions · $636,811,169 total · filing declares 220 positions · $661,755,440 · as of Mar 31, 2026

All sectors Basic Materials Communication Services Consumer Cyclical Consumer Defensive Energy Financial Services Healthcare Industrials Real Estate Technology Utilities

Showing 1–50 of 214 positions by value · page 1 of 5

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	% of Portfolio
NVDA	Nvidia Corp Technology	Added	297,019	+79,015	$51,800,113	+27.4%	8.13%
MSFT	Microsoft Corp Technology	Added	70,272	+11,202	$26,012,586	−8.9%	4.08%
DAR	Darling Ingredients Inc. Consumer Defensive	NEW	365,718	NEW	$22,619,658	NEW	3.55%
AVGO	Broadcom Inc. Technology	Added	71,950	+19,424	$22,269,244	+22.5%	3.50%
AMZN	Amazon Com Inc Consumer Cyclical	Added	106,427	+22,152	$22,165,551	+13.9%	3.48%
HAL	Halliburton Co Energy	NEW	511,950	NEW	$19,960,930	NEW	3.13%
SLB	Slb Limited/Nv Energy	Added	337,698	+260,853	$17,354,300	+488.4%	2.73%
WM	Waste Management Inc Industrials	Added	71,009	+55,870	$16,317,158	+390.6%	2.56%
GOOGL	Alphabet Inc. Communication Services	Added	50,344	+5,483	$14,476,920	+3.1%	2.27%
NEE	Nextera Energy Inc Utilities	Added	145,168	+81,651	$13,483,203	+164.4%	2.12%
RSG	Republic Services, Inc. Industrials	Added	59,921	+31,158	$13,123,897	+115.3%	2.06%
LBRT	Liberty Energy Inc. Energy	NEW	427,054	NEW	$12,299,155	NEW	1.93%
PUMP	ProPetro Holding Corp. Energy	NEW	827,700	NEW	$11,927,157	NEW	1.87%
JPM	Jpmorgan Chase & Co Financial Services	Added	38,377	+1,562	$11,288,978	−4.8%	1.77%
WHD	Cactus, Inc. Energy	NEW	222,480	NEW	$10,538,877	NEW	1.65%
PTEN	Patterson Uti Energy Inc Energy	NEW	940,736	NEW	$10,188,170	NEW	1.60%
HP	Helmerich & Payne, Inc. Energy	NEW	272,480	NEW	$9,817,454	NEW	1.54%
CF	CF Industries Holdings, Inc. Basic Materials	NEW	73,201	NEW	$9,504,417	NEW	1.49%
DVN	Devon Energy Corp/De Energy	NEW	181,714	NEW	$9,143,848	NEW	1.44%
GPRE	Green Plains Inc. Basic Materials	NEW	544,756	NEW	$8,961,236	NEW	1.41%
NOV	NOV Inc. Energy	NEW	436,176	NEW	$8,204,470	NEW	1.29%
WCN	Waste Connections, Inc. Industrials	Added	48,511	+25,073	$7,880,126	+91.7%	1.24%
V	Visa Inc. Financial Services	Added	24,976	+1,120	$7,548,746	−9.8%	1.19%
FTI	TechnipFMC plc Energy	NEW	107,502	NEW	$7,431,613	NEW	1.17%
PBF	PBF Energy Inc. Energy	NEW	152,598	NEW	$7,266,716	NEW	1.14%
MU	Micron Technology Inc Technology	Reduced	21,469	-7,788	$7,253,086	−13.1%	1.14%
NTR	Nutrien Ltd. Basic Materials	Added	91,990	+86,110	$6,941,565	+1812.7%	1.09%
APH	Amphenol Corp /De/ Technology	Added	53,150	+38,576	$6,715,502	+241.0%	1.05%
MA	Mastercard Inc Financial Services	Added	13,337	+575	$6,663,965	−8.5%	1.05%
DINO	HF Sinclair Corp Energy	NEW	95,270	NEW	$5,943,895	NEW	0.93%
AEM	Agnico Eagle Mines Ltd Basic Materials	Added	28,512	+23,162	$5,787,365	+538.1%	0.91%
JNJ	Johnson & Johnson Healthcare	Added	22,876	+1,697	$5,591,809	+27.6%	0.88%
BKR	Baker Hughes Co Energy	Reduced	87,946	-25,840	$5,369,103	+3.6%	0.84%
KGC	Kinross Gold Corp Basic Materials	Added	175,316	+148,346	$5,350,644	+604.5%	0.84%
PSX	Phillips 66 Energy	NEW	27,667	NEW	$5,040,374	NEW	0.79%
IBKR	Interactive Brokers Group, Inc. Financial Services	Added	69,413	+5,276	$4,655,529	+12.9%	0.73%
AME	Ametek Inc/ Industrials	Added	21,485	+782	$4,605,524	+8.4%	0.72%
ES	Eversource Energy Utilities	Added	65,726	+2,390	$4,553,497	+6.8%	0.72%
OSK	Oshkosh Corp Industrials	NEW	30,326	NEW	$4,464,290	NEW	0.70%
CLH	Clean Harbors Inc Industrials	Added	15,555	+8,986	$4,460,085	+189.6%	0.70%
RGLD	Royal Gold Inc Basic Materials	NEW	17,519	NEW	$4,458,410	NEW	0.70%
CVX	Chevron Corp Energy	NEW	21,286	NEW	$4,404,073	NEW	0.69%
AMAT	Applied Materials Inc /De Technology	Added	12,860	+238	$4,395,419	+35.5%	0.69%
AA	Alcoa Corp Basic Materials	NEW	65,662	NEW	$4,355,360	NEW	0.68%
NBR	Nabors Industries Ltd Energy	NEW	49,420	NEW	$4,253,085	NEW	0.67%
PGR	Progressive Corp/Oh/ Financial Services	Added	21,216	+754	$4,205,859	−9.7%	0.66%
MPC	Marathon Petroleum Corp Energy	NEW	17,110	NEW	$4,177,919	NEW	0.66%
TDW	Tidewater Inc Energy	Added	47,198	+12,458	$3,943,392	+124.7%	0.62%
RES	Rpc Inc Energy	NEW	552,228	NEW	$3,909,774	NEW	0.61%
TMO	Thermo Fisher Scientific Inc. Healthcare	Added	7,907	+99	$3,886,527	−14.1%	0.61%

Covers the securities this platform tracks: U.S.-listed common stock and the put/call positions reported on it. A 13F can also report security types outside that coverage — preferred shares, bonds, warrants, untracked share classes — so the filing's own declared total can exceed the figures above. The source filing is linked at the top of this table.