Fulcrum Asset Management LLP

CIK

1353395

Location

LONDON, X0

Portfolio Value

Small $635,703,406

Diversification

Diversified

Filing Date

Global Rank

#2,283 / 8,603 ▲ 987 · as of Mar 2026

Top Industry

Oil & Gas Equipment & Services 16.1%

3Y Alpha vs SPY

-12.8%

Period ended 3 months ago

Filed May 14, 2026 · 56d

16 quarters · since Jun 2020

Clone Performance

Jul 2023–Jul 2026 · vs SPY

Hypothetical growth of cloning every reported 13F position and rebalancing on each filing, indexed to the same start.

Cloned portfolio

+26.1%

SPY

+76.5%

Annualised alpha

-12.8%

Max drawdown

−15.3%

Estimate. 13F holdings are quarter-lagged and long-only, so the clone rebalances about 45 days after each period end — when the filing becomes public — and excludes options and short positions. Past performance does not predict future results.

Portfolio Concentration

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

Top Position

8.1%

−3.7 pts

Top 5

22.8%

−12.6 pts

Top 10

35.6%

−12.0 pts

HHI

213

Diversified−149

Portfolio Trend

16 quarters · across all stocks

Sector Breakdown

As of Mar 31, 2026

Sector	% Portfolio	Value	Positions
Energy	29.6%	$188,054,254	51
Technology	22.2%	$140,952,650	30
Basic Materials	9.6%	$61,136,436	20
Industrials	9.2%	$58,648,704	17
Financial Services	7.5%	$47,816,294	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 positions · $635,703,406 total · 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%	8.15%
MSFT	Microsoft Corp Technology	Added	70,272	+11,202	$26,012,586	−8.9%	4.09%
DAR	Darling Ingredients Inc. Consumer Defensive	NEW	365,718	NEW	$22,619,658	NEW	3.56%
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%	3.49%
HAL	Halliburton Co Energy	NEW	511,950	NEW	$19,960,930	NEW	3.14%
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%	2.57%
GOOGL	Alphabet Inc. Communication Services	Added	50,344	+5,483	$14,476,920	+3.1%	2.28%
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	1.88%
JPM	Jpmorgan Chase & Co Financial Services	Added	38,377	+1,562	$11,288,978	−4.8%	1.78%
WHD	Cactus, Inc. Energy	NEW	222,480	NEW	$10,538,877	NEW	1.66%
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	1.50%
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%	1.06%
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	0.94%
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	0.69%
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	0.62%
TMO	Thermo Fisher Scientific Inc. Healthcare	Added	7,907	+99	$3,886,527	−14.1%	0.61%