Fulcrum Asset Management LLP
LONDON, X0
$1.0bn in 1,027 US stocks at the end of 30 June 2026. The top 10 are 22.1% of the money. It changed about 64.9% of the portfolio this quarter.
Value
$1.0bn
Stocks
1,027
Top 10 share
22.1%
Turnover
64.9%
What changed this quarter
New
Bought for the first time this quarter.
- AppleAAPL3.3% of the fund
- WalmartWMT1.8% of the fund
- Cardinal HealthCAH1.7% of the fund
- MckessonMCK1.5% of the fund
- Meta PlatformsMETA1.5% of the fund
- CencoraCOR1.5% of the fund
- Immunocore HldgsIMCR1.4% of the fund
- Eli LillyLLY1.1% of the fund
- Costco WholesaleCOST1.0% of the fund
- Quanta ServicesPWR1.0% of the fund
- TeslaTSLA1.0% of the fund
- GE VernovaGEV0.9% of the fund
- FortinetFTNT0.9% of the fund
- ExxonMobil HoldingsXOM0.7% of the fund
- CaterpillarCAT0.7% of the fund
- KrogerKR0.7% of the fund
- Howmet AerospaceHWM0.7% of the fund
- WoodwardWWD0.7% of the fund
- Arista NetworksANET0.7% of the fund
- Monster BeverageMNST0.7% of the fund
- JPMorgan Chase0.6% of the fund
- American ExpressAXP0.6% of the fund
- Abbott LaboratoriesABT0.6% of the fund
- Taiwan Semiconductor ManufacturingTSM0.6% of the fund
- Vertiv HoldingsVRT0.5% of the fund
Added
Bought more of a stock they already held.
- Baker HughesBKR0.6% of the fund+21%
- Morgan StanleyMS0.6% of the fund+53%
- CortevaCTVA0.6% of the fund+140%
- Arthur J. GallagherAJG0.6% of the fund+225%
- ChevronCVX0.6% of the fund+55%
- PrologisPLD0.5% of the fund+585%
- Bank of AmericaBAC0.5% of the fund+57%
- OktaOKTA0.5% of the fund+1695%
- Chipotle Mexican GrillCMG0.5% of the fund+132%
- TJX CompaniesTJX0.4% of the fund+64%
- T-Mobile USTMUS0.3% of the fund+587%
- S&P GlobalSPGI0.3% of the fund+4%
- KLAKLAC0.3% of the fund+30%
- Lowe's CompaniesLOW0.3% of the fund+32%
- SynopsysSNPS0.2% of the fund+4801%
- NewmontNEM0.2% of the fund+524%
- Boston ScientificBSX0.2% of the fund+11%
- CamecoCCJ0.2% of the fund+59%
- PultegroupPHM0.1% of the fund+42%
- PTCPTC<0.1% of the fund+31%
- NexGen EnergyNXE<0.1% of the fund+87%
- Microchip TechnologyMCHP<0.1% of the fund+306%
- Home DepotHD<0.1% of the fund+46%
- Uranium EnergyUEC<0.1% of the fund+128%
- Denison MinesDNN<0.1% of the fund+129%
Cut
Sold some of their stake.
- NvidiaNVDA4.5% of the fund-22%
- Micron TechnologyMU2.4% of the fund-4%
- Amazon.comAMZN2.0% of the fund-20%
- MicrosoftMSFT1.8% of the fund-31%
- BroadcomAVGO1.6% of the fund-41%
- AlphabetGOOG1.6% of the fund-30%
- AlphabetGOOGL1.3% of the fund-25%
- AmphenolAPH0.8% of the fund-15%
- SLB LimitedSLB0.7% of the fund-53%
- Republic ServicesRSG0.6% of the fund-50%
- Advanced Micro DevicesAMD0.6% of the fund-15%
- NextEra EnergyNEE0.5% of the fund-58%
- Johnson & JohnsonJNJ0.5% of the fund-9%
- Interactive Brokers GroupIBKR0.5% of the fund-16%
- VisaV0.5% of the fund-42%
- JPMorgan ChaseJPM0.5% of the fund-61%
- MastercardMA0.5% of the fund-29%
- AmetekAME0.5% of the fund-8%
- HalliburtonHAL0.5% of the fund-74%
- Waste ConnectionsWCN0.4% of the fund-49%
- Lam ResearchLRCX0.3% of the fund-44%
- Darling IngredientsDAR0.3% of the fund-82%
- Eversource EnergyES0.3% of the fund-31%
- Devon EnergyDVN0.3% of the fund-57%
- Applied MaterialsAMAT0.3% of the fund-64%
Sold out
Sold their entire stake.
- Trane Technologies-100%
- TechnipFMCFTI-100%
- Travelers Companies-100%
- Nabors IndustriesNBR-100%
- Royal GoldRGLD-100%
- OshkoshOSK-100%
- AlcoaAA-100%
- L3harris TechnologiesLHX-100%
- American Electric PowerAEP-100%
- Equinox GoldEQX-100%
- Comstock ResourcesCRK-100%
- AmerenAEE-100%
- AeroVironmentAVAV-100%
- CVR EnergyCVI-100%
- OGE EnergyOGE-100%
- Vale S A-100%
- Fortinet INC Comp-100%
- LindeLIN-100%
- Equinor ASAEQNR-100%
- TRI Pointe Homes-100%
- International SeawaysINSW-100%
- Teekay TankersTNK-100%
- DHT HoldingsDHT-100%
- Scorpio TankersSTNG-100%
- TormTRMD-100%
Holdings
- Immunocore HldgsIMCR
- Share
- 1.4%
- Value
- $14m
- Shares
- 470,025
New
- JPMorgan Chase
- Share
- 0.6%
- Value
- $6m
- Shares
- 448,500,000
New
- Endeavour SilverEXK
- Share
- 0.3%
- Value
- $3m
- Shares
- 351,888
New
- Canadian Natural ResourcesCNQ
- Share
- 0.3%
- Value
- $3m
- Shares
- 72,052
New
| Company | Share of fund | Value | Shares | Change |
|---|---|---|---|---|
| NvidiaNVDA | 4.5% | $45m | 232,336 | -22% |
| AppleAAPL | 3.3% | $33m | 117,131 | New |
| Micron TechnologyMU | 2.4% | $24m | 20,696 | -4% |
| Amazon.comAMZN | 2.0% | $20m | 84,971 | -20% |
| MicrosoftMSFT | 1.8% | $18m | 48,559 | -31% |
| WalmartWMT | 1.8% | $18m | 155,672 | New |
| Cardinal HealthCAH | 1.7% | $17m | 70,116 | New |
| BroadcomAVGO | 1.6% | $16m | 42,754 | -41% |
| AlphabetGOOG | 1.6% | $16m | 44,571 | -30% |
| MckessonMCK | 1.5% | $15m | 20,716 | New |
| Meta PlatformsMETA | 1.5% | $15m | 27,270 | New |
| CencoraCOR | 1.5% | $15m | 51,748 | New |
| Immunocore HldgsIMCR | 1.4% | $14m | 470,025 | New |
| AlphabetGOOGL | 1.3% | $13m | 37,652 | -25% |
| Eli LillyLLY | 1.1% | $11m | 8,675 | New |
| Costco WholesaleCOST | 1.0% | $10m | 10,779 | New |
| Quanta ServicesPWR | 1.0% | $10m | 13,896 | New |
| TeslaTSLA | 1.0% | $10m | 23,815 | New |
| GE VernovaGEV | 0.9% | $10m | 8,624 | New |
| FortinetFTNT | 0.9% | $9m | 56,540 | New |
| AmphenolAPH | 0.8% | $8m | 45,241 | -15% |
| ExxonMobil HoldingsXOM | 0.7% | $7m | 54,371 | New |
| SLB LimitedSLB | 0.7% | $7m | 159,459 | -53% |
| CaterpillarCAT | 0.7% | $7m | 7,158 | New |
| KrogerKR | 0.7% | $7m | 128,703 | New |
| Howmet AerospaceHWM | 0.7% | $7m | 26,546 | New |
| WoodwardWWD | 0.7% | $7m | 16,194 | New |
| Arista NetworksANET | 0.7% | $7m | 41,760 | New |
| Monster BeverageMNST | 0.7% | $7m | 66,932 | New |
| Republic ServicesRSG | 0.6% | $6m | 29,873 | -50% |
| JPMorgan Chase | 0.6% | $6m | 448,500,000 | New |
| American ExpressAXP | 0.6% | $6m | 18,607 | New |
| Advanced Micro DevicesAMD | 0.6% | $6m | 11,489 | -15% |
| Baker HughesBKR | 0.6% | $6m | 106,609 | +21% |
| Abbott LaboratoriesABT | 0.6% | $6m | 63,409 | New |
| Taiwan Semiconductor ManufacturingTSM | 0.6% | $6m | 12,902 | New |
| Morgan StanleyMS | 0.6% | $6m | 27,158 | +53% |
| CortevaCTVA | 0.6% | $6m | 68,091 | +140% |
| Arthur J. GallagherAJG | 0.6% | $6m | 24,583 | +225% |
| ChevronCVX | 0.6% | $6m | 32,955 | +55% |
| PrologisPLD | 0.5% | $5m | 38,983 | +585% |
| NextEra EnergyNEE | 0.5% | $5m | 60,762 | -58% |
| Johnson & JohnsonJNJ | 0.5% | $5m | 20,815 | -9% |
| Vertiv HoldingsVRT | 0.5% | $5m | 17,377 | New |
| ShopifySHOP | 0.5% | $5m | 46,316 | New |
| Travelers CompaniesTRV | 0.5% | $5m | 15,488 | New |
| Interactive Brokers GroupIBKR | 0.5% | $5m | 58,186 | -16% |
| Bank of AmericaBAC | 0.5% | $5m | 87,717 | +57% |
| OktaOKTA | 0.5% | $5m | 37,982 | +1695% |
| Chipotle Mexican GrillCMG | 0.5% | $5m | 150,823 | +132% |
| VisaV | 0.5% | $5m | 14,554 | -42% |
| JPMorgan ChaseJPM | 0.5% | $5m | 15,051 | -61% |
| General ElectricGE | 0.5% | $5m | 13,087 | New |
| Affiliated Managers GroupAMG | 0.5% | $5m | 14,166 | New |
| BlackRockBLK | 0.5% | $5m | 5,081 | New |
| MastercardMA | 0.5% | $5m | 9,423 | -29% |
| AmetekAME | 0.5% | $5m | 19,728 | -8% |
| Caseys General StoresCASY | 0.5% | $5m | 5,974 | New |
| HalliburtonHAL | 0.5% | $5m | 133,341 | -74% |
| Ingersoll RandIR | 0.5% | $5m | 55,773 | New |
| Knight-Swift Transportation HoldingsKNX | 0.4% | $4m | 55,466 | New |
| Hunt J B Transport ServicesJBHT | 0.4% | $4m | 14,850 | New |
| TJX CompaniesTJX | 0.4% | $4m | 27,870 | +64% |
| SandiskSNDK | 0.4% | $4m | 2,012 | New |
| Waste ConnectionsWCN | 0.4% | $4m | 24,724 | -49% |
| Mettler Toledo InternationalMTD | 0.4% | $4m | 3,240 | New |
| IntelINTC | 0.4% | $4m | 28,250 | New |
| C. H. Robinson WorldwideCHRW | 0.4% | $4m | 19,996 | New |
| Western DigitalWDC | 0.4% | $4m | 5,658 | New |
| Landstar SystemLSTR | 0.4% | $4m | 17,540 | New |
| Lam ResearchLRCX | 0.3% | $4m | 8,534 | -44% |
| Talen EnergyTLN | 0.3% | $4m | 8,766 | New |
| T-Mobile USTMUS | 0.3% | $3m | 19,981 | +587% |
| Old Dominion Freight LineODFL | 0.3% | $3m | 15,624 | New |
| Darling IngredientsDAR | 0.3% | $3m | 64,066 | -82% |
| Constellation EnergyCEG | 0.3% | $3m | 12,998 | New |
| Eversource EnergyES | 0.3% | $3m | 45,525 | -31% |
| Devon EnergyDVN | 0.3% | $3m | 78,775 | -57% |
| Applied MaterialsAMAT | 0.3% | $3m | 4,640 | -64% |
| Franklin TempletonBEN | 0.3% | $3m | 96,568 | New |
| DanaherDHR | 0.3% | $3m | 16,459 | New |
| Consolidated EdisonED | 0.3% | $3m | 27,517 | -13% |
| HeicoHEI | 0.3% | $3m | 8,738 | New |
| Berkshire HathawayBRK-B | 0.3% | $3m | 6,000 | New |
| Deckers OutdoorDECK | 0.3% | $3m | 29,246 | New |
| AirbnbABNB | 0.3% | $3m | 20,076 | New |
| AARAIR | 0.3% | $3m | 20,634 | New |
| Endeavour SilverEXK | 0.3% | $3m | 351,888 | New |
| Canadian Natural ResourcesCNQ | 0.3% | $3m | 72,052 | New |
| American Water Works CompanyAWK | 0.3% | $3m | 21,376 | Held |
| Expeditors International of WashingtonEXPD | 0.3% | $3m | 17,148 | New |
| S&P GlobalSPGI | 0.3% | $3m | 7,076 | +4% |
| AppLovinAPP | 0.3% | $3m | 5,400 | New |
| Price T Rowe GroupTROW | 0.3% | $3m | 23,270 | New |
| Liberty EnergyLBRT | 0.3% | $3m | 100,534 | -76% |
| Uber TechnologiesUBER | 0.3% | $3m | 34,895 | New |
| Diamondback EnergyFANG | 0.3% | $3m | 14,508 | New |
| Williams SonomaWSM | 0.3% | $3m | 10,903 | New |
| KLAKLAC | 0.3% | $3m | 9,359 | +30% |
| Lowe's CompaniesLOW | 0.3% | $3m | 11,860 | +32% |
Showing the largest 100 of 1,027.
Over time and by industry
Value over time
Jun '25
Dec '25
Jun '26
Value is up 186.2% since 30 June 2025.
Where the money is
Technology25.2%
Industrials16.2%
Health care9.8%
Financial services9.4%
Retail & consumer8.8%
Energy8.0%
Media & telecom6.0%
Everyday goods5.5%
Materials3.7%
Utilities2.9%
Real estate1.0%
Other3.5%
From the fund's 13F filings. They list US stocks and options only, 45 days after each quarter, and leave out cash, bonds, shorts and foreign shares.