Fulcrum Capital LLC
Long book
$460.6M
Q1 2026
Positions
101
Top-10 weight
48%
concentration
Last quarter
+13.3%
SPY +14.8%
Turnover
6%
of book per quarter
Strategy in plain words
auto-generated from filingsFulcrum Capital LLC is a diversified fundamental manager, running a $460.6M US long book across 101 positions.
The portfolio is moderately concentrated (top 10 ≈ 48% of the book). The book barely moves quarter to quarter — a patient, low-turnover holder. Current anchor positions: VANGUARD MID-CAP ETF, MICROSOFT CORP, APPLE INC, ALPHABET INC-CL A, AMAZON.COM INC.
Over the last 9 quarters its long book ran on average 1.3pp per quarter behind the S&P 500, beating the index in 1 of 9 quarters. We rate its filings as signal-bearing: position changes reflect genuine views.
Implied long-book return vs S&P 500
methodology: positions priced quarterly, no shorts/options Fund long book S&P 500
Q1 2024
+4.0%
Q2 2024
+4.7%
Q3 2024
+0.6%
Q4 2024
-4.3%
Q1 2025
+9.9%
Q2 2025
+5.6%
Q3 2025
+1.8%
Q4 2025
-6.5%
Q1 2026
+13.3%
Sector allocation
Technology 41%
Services media 13%
Healthcare 11%
Financials 8%
Consumer discretionary 8%
Industrials 8%
Utilities 4%
Consumer staples 2%
Long book by quarter
What does Fulcrum Capital own?
Q1 2026 13F| Company | Sector | Shares | Value | % of book | Change |
|---|---|---|---|---|---|
| MSFT MICROSOFT CORP | Technology | 83.4K | $30.9M | 6.7% | +8.3% |
| AAPL APPLE INC | Technology | 99.6K | $25.3M | 5.5% | -1.5% |
| GOOGL ALPHABET INC-CL A | Technology | 80.4K | $23.1M | 5.0% | -20.0% |
| AMZN AMAZON.COM INC | Consumer discretionary | 108.1K | $22.5M | 4.9% | +0.1% |
| NVDA NVIDIA CORP | Technology | 124.9K | $21.8M | 4.7% | -3.2% |
| LRCX LAM RESEARCH CORP | Industrials | 76.4K | $16.3M | 3.5% | -2.1% |
| TT TRANE TECHNOLOGIES PLC | Technology | 36.9K | $15.4M | 3.3% | -0.4% |
| FTNT FORTINET INC | Technology | 174.6K | $14.3M | 3.1% | +21.2% |
| MA MASTERCARD INC - A | Services media | 28.5K | $14.2M | 3.1% | +1.7% |
| NFLX NETFLIX INC | Services media | 143.4K | $13.8M | 3.0% | +19.7% |
| CME CME GROUP INC | Financials | 43.1K | $12.7M | 2.8% | -1.6% |
| JPM JPMORGAN CHASE & CO | Financials | 40.1K | $11.8M | 2.6% | -11.4% |
| WM WASTE MANAGEMENT INC | Utilities | 49.0K | $11.3M | 2.4% | -0.2% |
| EW EDWARDS LIFESCIENCES CORP | Healthcare | 137.3K | $11.0M | 2.4% | +0.1% |
| SPGI S&P GLOBAL INC | Services media | 25.3K | $10.8M | 2.3% | +16.5% |
| ADBE ADOBE INC | Technology | 36.0K | $8.8M | 1.9% | -0.8% |
| LIN LINDE PLC | Materials | 15.0K | $7.4M | 1.6% | +3.8% |
| VRTX VERTEX PHARMACEUTICALS INC | Healthcare | 16.5K | $7.4M | 1.6% | -0.7% |
| PEP PEPSICO INC | Consumer staples | 47.4K | $7.4M | 1.6% | -1.0% |
| ZTS ZOETIS INC | Healthcare | 61.9K | $7.3M | 1.6% | -1.9% |
| UBER UBER TECHNOLOGIES INC | Services media | 99.0K | $7.1M | 1.5% | +28.0% |
| XYL XYLEM INC | Industrials | 59.2K | $7.1M | 1.5% | +0.7% |
| FSLR FIRST SOLAR INC | Technology | 34.6K | $6.8M | 1.5% | -10.7% |
| UNH UNITEDHEALTH GROUP INC | Financials | 25.0K | $6.8M | 1.5% | -1.7% |
| INTU INTUIT INC | Technology | 15.3K | $6.6M | 1.4% | +1.9% |
| ULTA ULTA BEAUTY INC | Consumer discretionary | 12.4K | $6.5M | 1.4% | -28.2% |
| DHI DR HORTON INC | Industrials | 46.8K | $6.4M | 1.4% | +1.1% |
| EOG EOG RESOURCES INC | Energy | 39.3K | $5.7M | 1.2% | -13.0% |
| ABT ABBOTT LABORATORIES | Healthcare | 48.3K | $5.0M | 1.1% | -0.7% |
| AMGN AMGEN INC | Healthcare | 10.0K | $3.5M | 0.8% | -0.9% |
| LLY ELI LILLY & CO | Healthcare | 3.8K | $3.5M | 0.8% | -0.3% |
| DXCM DEXCOM INC | Healthcare | 44.7K | $2.8M | 0.6% | +8.9% |
| PINS PINTEREST INC- CLASS A | Technology | 139.2K | $2.6M | 0.6% | +2.3% |
| PYPL PAYPAL HOLDINGS INC | Services media | 52.8K | $2.4M | 0.5% | +0.8% |
| TTD TRADE DESK INC/THE -CLASS A | Technology | 72.7K | $1.6M | 0.4% | +5.9% |
| ECL ECOLAB INC | Other | 5.4K | $1.4M | 0.3% | -0.4% |
| COST COSTCO WHOLESALE CORP | Consumer discretionary | 1.2K | $1.2M | 0.3% | -12.3% |
| AWK AMERICAN WATER WORKS CO INC | Utilities | 8.1K | $1.1M | 0.2% | +5.7% |
| JNJ JOHNSON & JOHNSON | Healthcare | 4.4K | $1.1M | 0.2% | -4.3% |
| ATO ATMOS ENERGY CORP | Utilities | 4.1K | $757K | 0.2% | Held |
| GOOG ALPHABET INC-CL C | Technology | 2.5K | $707K | 0.2% | -43.7% |
| MAR MARRIOTT INTERNATIONAL -CL A | Services media | 2.0K | $667K | 0.1% | Held |
| AVGO BROADCOM INC | Technology | 2.0K | $605K | 0.1% | -8.0% |
| KO COCA-COLA CO/THE | Consumer staples | 7.7K | $586K | 0.1% | -1.7% |
| V VISA INC-CLASS A SHARES | Services media | 1.9K | $563K | 0.1% | -0.9% |
| ABBV ABBVIE INC | Healthcare | 2.3K | $508K | 0.1% | -9.0% |
| CMI CUMMINS INC | Industrials | 917 | $493K | 0.1% | -11.3% |
| MS MORGAN STANLEY | Financials | 2.9K | $476K | 0.1% | -5.6% |
| EPD ENTERPRISE PRODUCTS PARTNERS | Utilities | 11.7K | $443K | 0.1% | Held |
| COP CONOCOPHILLIPS | Energy | 3.3K | $441K | 0.1% | +7.8% |
13F filing history
| Period | Form | Filed | Entries | Reported value | Flags | Source |
|---|---|---|---|---|---|---|
| Q1 2026 | 13F-HR | Apr 30, 2026 | 101 | $460.6M | canonical | SEC ↗ |
| Q4 2025 | 13F-HR | Jan 15, 2026 | 99 | $498.0M | canonical | SEC ↗ |
| Q3 2025 | 13F-HR | Oct 28, 2025 | 100 | $487.7M | canonical | SEC ↗ |
| Q2 2025 | 13F-HR | Jul 24, 2025 | 99 | $472.8M | canonical | SEC ↗ |
| Q1 2025 | 13F-HR | Apr 8, 2025 | 107 | $451.1M | canonical | SEC ↗ |
| Q4 2024 | 13F-HR | Jan 13, 2025 | 113 | $477.6M | canonical | SEC ↗ |
| Q3 2024 | 13F-HR | Oct 22, 2024 | 109 | $459.1M | canonical | SEC ↗ |
| Q2 2024 | 13F-HR | Jul 22, 2024 | 109 | $439.2M | canonical | SEC ↗ |
| Q1 2024 | 13F-HR | Apr 17, 2024 | 116 | $421.4M | canonical | SEC ↗ |
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