Fulcrum Asset Management LLP

CIK 0001353395 · Q1 2026

13F Equity AUM

$661.8M

+23.1% QoQ

Positions

219

-39 QoQ

AUM Rank

#4,226

Top 34%

Skill Alpha (FF)

-2.8%/yr^ns

No Clear Edge

Rank #6,100 · Top 74%

vs S&P -1.2%/yr (unadj.)

Quarters Tracked

~4 years

Portfolio Concentration

Top 5: 14.0%Top 10: 22.1%Top 20: 33.7%

NVDA4.5%

AAPL3.3%

MU2.4%

AMZN2.0%

MSFT1.8%

WMT1.8%

CAH1.6%

AVGO1.6%

GOOG1.6%

MCK1.5%

Others (980)77.9%

HHI (Herfindahl-Hirschman Index) measures portfolio concentration. Low (<1500) = diversified, Moderate (1500-2500), High (>2500) = concentrated bets.

Sector Allocation

Technology25.7%

Industrials14.9%

Healthcare9.8%

Financial Services9.5%

Energy9.4%

Consumer Cyclical9.3%

Communication Services5.7%

Consumer Defensive5.1%

Other10.5%

Portfolio weight by GICS sector based on latest 13F filing. Sectors below 2% are grouped as “Other.”

Position Sizing

Positions: 990Median: 0.01%Avg: 0.10%

0–0.5%

942(49.1%)

0.5–1%

32(20.9%)

1–3%

14(22.1%)

3–5%

2(7.8%)

5%+

0(0.0%)

Count of positions per weight bucket — (%) = combined portfolio weight

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Portfolio Overlap

Shared: 0Unique: 219vs 20 funds

0%Low

219

Fund positions

Consensus CUSIPs

Jaccard similarity of this fund’s portfolio vs the consensus of top 20 funds by AUM. Low (<15%) = contrarian, Moderate (15-40%), High (>40%) = follows the crowd.

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Position Changes This Quarter

New834Increased59Decreased91Exited27

New Positions

AAPL3.3%

+117K

WMT1.8%

+156K

CAH1.6%

+70K

MCK1.5%

+21K

META1.5%

+27K

ABG1.4%

+52K

IMCR1.4%

+470K

LLY1.1%

+9K

COST1.0%

+11K

PWR1.0%

+14K

Increased

CMG0.5%

+86K(+132%)

DML0.1%

+86K(+129%)

NXE0.1%

+42K(+87%)

CTVA0.6%

+40K(+140%)

OKTA0.5%

+36K(+1695%)

PLD0.5%

+33K(+585%)

BAC0.5%

+32K(+57%)

U6Z0.1%

+25K(+128%)

NEM0.2%

+20K(+524%)

BKR0.6%

+19K(+21%)

Decreased

PTEN0.2%

-767,620(-82%)

PUMP0.2%

-688,950(-83%)

G3V0.0%

-544,736(-100%)

RES0.1%

-468,354(-85%)

HAL0.5%

-378,609(-74%)

LBRT0.3%

-326,520(-76%)

NOV0.2%

-326,183(-75%)

DAR0.3%

-301,652(-82%)

HP0.2%

-218,100(-80%)

DNOW0.1%

-190,516(-82%)

Exited

-27,854

FTI

-107,502

TRAVELERS COS INC/TH…

-19,028

NBRWF

-49,420

-65,662

-30,326

-17,519

-4,362

-7,754

-45,814

Quarter-over-quarter changes compared to prior 13F filing. New = first appearance; Exited = no longer held.

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Holdings

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