FC
Fulcrum Capital LLC: 13F Stock Holdings & Portfolio (Q3 2026)
Fulcrum Capital LLCCIK: 0001724090
Diversified strategyMomentum followerQuality / disciplined sizing
Total reported value
$524.9M
Reporting period: 2026-09-30 · Number of holdings: 101
Fulcrum Capital LLC disclosed 101 holdings in its latest 13F filing for the period ending 2026-09-30, with total reported value of $524.9M and a quarterly turnover rate of 14.5%.
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Personality snowflake
- Concentration
- 15.71
- Portfolio Stability
- 14.47
- Momentum
- 100
- Sector conviction
- 72.82
- Diversification
- 100
- Sizing Uniformity
- 82.69
Fulcrum Capital LLC's disclosed holdings carry a Herfindahl concentration index of 0.039 — mathematically equivalent to about 25 equally-sized positions, well below its 101 actual disclosed holdings. That gap points to a strategy built around a small core of high-conviction bets rather than broad diversification.
Position sizes vary widely across the portfolio (a coefficient of variation of 1.73), with a handful of outsized bets alongside many smaller positions.
No strong tilt toward either adding to existing winners or initiating outsized new positions was observed in the latest reported quarter.
Source and citation information
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Recent moves
View source Form 13F filing on SEC.govAdd MSFT
+21.4% $20.1M
Trim LRCX
-1.3% -$7.8M
Trim VO
+0.9% -$729.1K
Add AAPL
+2.5% $5.0M
Add NVDA
+1.9% $3.9M
Trim FSLR
+2.4% -$1.9M
Holdings Map
New buyAddUnchangedTrim
Top 10 holdings by weight
Full holdings list this quarter
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | MSFT | Microsoft CORP | Stock-Tech | 9.56% | +3.46% | +21.44% | |
| 2 | VO | Vanguard Mid-cap ETF | ETF-Other | 7.54% | -0.63% | +0.88% | |
| 3 | AAPL | Apple Inc | Stock-Tech | 6.25% | +0.61% | +2.45% | |
| 4 | FTNT | Fortinet Inc | Stock-Tech | 5.49% | +0.34% | -2.41% | |
| 5 | NVDA | Nvidia CORP | Stock-Tech | 5.28% | +0.45% | +1.90% | |
| 6 | AMZN | Amazon.com Inc | Stock-Consumer Disc | 5.09% | +0.10% | +4.06% | |
| 7 | GOOGL | Alphabet Inc-cl A | Stock-Comm Services | 5.06% | -0.45% | +1.68% | |
| 8 | LRCX | Lam Research CORP | Stock-Tech | 4.40% | -1.86% | -1.33% | |
| 9 | TT | Trane Technologies plc | Stock-Industrials | 3.10% | -0.42% | +1.95% | |
| 10 | MA | Mastercard Inc - A | Stock-Financials | 2.97% | +0.09% | +2.53% | |
| 11 | JPM | Jpmorgan Chase & Co | Stock-Financials | 2.42% | -0.12% | +0.60% | |
| 12 | EW | Edwards Lifesciences CORP | Stock-Healthcare | 2.18% | -0.23% | +0.92% | |
| 13 | CME | Cme Group Inc | Stock-Financials | 2.14% | +0.31% | +4.64% | |
| 14 | NFLX | Netflix Inc | Stock-Comm Services | 2.10% | +0.15% | +17.65% | |
| 15 | SPGI | S&p Global Inc | Stock-Financials | 2.01% | -0.02% | +8.51% | |
| 16 | WM | Waste Management Inc | Stock-Industrials | 1.91% | -0.24% | +3.48% | |
| 17 | UNH | Unitedhealth Group Inc | Stock-Healthcare | 1.62% | -0.36% | -1.35% | |
| 18 | VRTX | Vertex Pharmaceuticals Inc | Stock-Healthcare | 1.60% | -0.01% | +0.54% | |
| 19 | XBI | Ss Spdr S&p Biotech ETF | ETF-Tech | 1.53% | -0.14% | -2.22% | |
| 20 | ADBE | Adobe Inc | Stock-Tech | 1.52% | +0.06% | -5.02% | |
| 21 | ULTA | Ulta Beauty Inc | Stock-Consumer Disc | 1.35% | +0.23% | +6.26% | |
| 22 | LIN | Linde plc | Stock-Materials | 1.33% | -0.17% | +2.96% | |
| 23 | UBER | Uber Technologies Inc | Stock-Industrials | 1.31% | -0.09% | +5.03% | |
| 24 | VUG | Vanguard Growth ETF | ETF-Other | 1.29% | +0.01% | +2.95% | |
| 25 | XYL | Xylem Inc | Stock-Industrials | 1.18% | -0.23% | +3.79% | |
| 26 | PEP | Pepsico Inc | Stock-Consumer Staples | 1.14% | -0.11% | +3.97% | |
| 27 | FSLR | First Solar Inc | Stock-Tech | 1.13% | -0.45% | +2.37% | |
| 28 | JQUA | Jpmorgan US Quality Factor | ETF-Other | 1.09% | -0.06% | -0.90% | |
| 29 | TMO | Thermo Fisher Scientific Inc | Stock-Healthcare | 0.93% | +0.21% | +2.41% | |
| 30 | NOW | Servicenow Inc | Stock-Tech | 0.89% | +0.20% | +2.21% | |
| 31 | LLY | Eli Lilly & Co | Stock-Healthcare | 0.84% | -0.07% | +1.04% | |
| 32 | IVV | Ishares Core S&p 500 ETF | ETF-Large Cap & Growth | 0.82% | -0.04% | -0.95% | |
| 33 | EOG | Eog Resources Inc | Stock-Energy | 0.81% | -0.04% | -4.88% | |
| 34 | ANET | Arista Networks Inc | Stock-Tech | 0.80% | +0.12% | +4.24% | |
| 35 | COIN | Coinbase Global Inc -class A | Stock-Financials | 0.75% | +0.16% | +5.36% | |
| 36 | DHI | Dr Horton Inc | Stock-Consumer Disc | 0.75% | -0.19% | +1.09% | |
| 37 | DXCM | Dexcom Inc | Stock-Healthcare | 0.73% | +0.14% | +3.00% | |
| 38 | INTU | Intuit Inc | Stock-Tech | 0.70% | — | +0.25% | |
| 39 | APH | Amphenol Corp-cl A | Stock-Tech | 0.69% | -0.04% | +110.24% | |
| 40 | PINS | Pinterest Inc- Class A | Stock-Comm Services | 0.50% | -0.07% | +3.86% | |
| 41 | CVLC | Calvert US L-c Cr Resp Index | ETF-Large Cap & Growth | 0.47% | -0.05% | -2.86% | |
| 42 | SPYM | Ste Str Spdr Pt S&p 500 ETF | ETF-Large Cap & Growth | 0.43% | -0.02% | — | |
| 43 | AMGN | Amgen Inc | Stock-Healthcare | 0.43% | +0.03% | -2.28% | |
| 44 | GOOG | Alphabet Inc-cl C | Stock-Comm Services | 0.40% | +0.23% | +168.10% | |
| 45 | VYM | Vanguard High Dvd Yield ETF | ETF-Other | 0.34% | -0.01% | +5.49% | |
| 46 | IWR | Ishares Russell Mid-cap ETF | ETF-Other | 0.30% | -0.03% | -0.49% | |
| 47 | ECL | Ecolab Inc | Stock-Materials | 0.29% | -0.02% | +0.18% | |
| 48 | COST | Costco Wholesale CORP | Stock-Consumer Staples | 0.21% | -0.02% | — | |
| 49 | AWK | American Water Works Co Inc | Stock-Utilities | 0.21% | -0.01% | +1.66% | |
| 50 | JNJ | Johnson & Johnson | Stock-Healthcare | 0.20% | -0.01% | -1.56% |
1–50 of 101
Portfolio Performance
Performance for Q4 2026
+2.9%
Performance Last 4 Quarters
+10.5%
- Stdev
- +11.8%
- Beta
- +0.94
- Alpha
- -3.4%
- Max Drawdown
- -8.3%
- Annualized Perf
- +18.4%
- Batting Avg vs S&P
- +33.3%
- Sortino
- +3.21
- Stutzer
- +0.44
- Treynor
- +0.19
- Sterling
- +1.14
- Calmar
- +2.21
- Information Ratio
- -1.53
- Tracking Error
- +3.2%
- Stdev Down
- +5.5%
- Winning Months %
- +66.7%
- Losing Months %
- +33.3%
- Best 12 Months
- +29.1%
- Worst 12 Months
- +2.9%
- Efficiency Ratio
- +0.63
- Sharpe
- +1.5
- Stdev Sectors
- +11.7%
- Skewness
- +0.22
- Kurtosis
- +0.19
- Upside Potential
- +4.79
Reported value over time
Sector allocation
Sector allocation over time
Quarterly history
| Period | Holdings | Total value | Stability | Top holdings | |
|---|---|---|---|---|---|
| 2026 Q3 | 101 | $524.9M | 14 | ||
| 2026 Q2 | 103 | $492.9M | 23 | ||
| 2026 Q1 | 101 | $460.6M | 15 | ||
| 2025 Q4 | 99 | $498.0M | 11 | ||
| 2025 Q3 | 100 | $487.7M | 31 | ||
| 2025 Q2 | 99 | $472.8M | 0 | ||
| 2025 Q1 | 107 | $451.1M | 100 | ||
| 2024 Q4 | 113 | $477.6M | 0 | ||
| 2024 Q3 | 109 | $459.1M | 0 | ||
| 2024 Q2 | 109 | $439.2M | 0 | ||
| 2024 Q1 | 116 | $421.4M | 0 | ||
| 2023 Q4 | 119 | $386.7M | 0 | ||
| 2023 Q3 | 109 | $344.5M | 0 | ||
| 2023 Q2 | 115 | $380.3M | 0 | ||
| 2023 Q1 | 118 | $371.5M | 0 | ||
| 2022 Q4 | 101 | $346.0M | 0 | ||
| 2022 Q3 | 79 | $336.7M | 0 | ||
| 2022 Q2 | 73 | $318.2M | 0 | ||
| 2022 Q1 | 70 | $373.4M | 0 | ||
| 2021 Q4 | 85 | $461.2M | 0 | ||
| 2021 Q3 | 88 | $418.0M | 0 | ||
| 2021 Q2 | 82 | $398.6M | 93 | ||
| 2021 Q1 | 84 | $348.7M | 17 | ||
| 2020 Q4 | 81 | $334.3M | 20 | ||
| 2020 Q3 | 61 | $276.5M | 10 | ||
| 2020 Q2 | 65 | $263.9M | 30 | ||
| 2020 Q1 | 62 | $220.3M | 43 | ||
| 2019 Q4 | 73 | $322.9M | 12 | ||
| 2019 Q3 | 75 | $292.8M | 19 | ||
| 2019 Q2 | 60 | $273.2M | 15 | ||
| 2019 Q1 | 64 | $264.8M | 21 | ||
| 2018 Q4 | 54 | $221.9M | 32 | ||
| 2018 Q3 | 59 | $256.5M | 32 | ||
| 2018 Q2 | 54 | $209.5M | 45 | ||
| 2018 Q1 | 68 | $307.1M | 17 | ||
| 2017 Q4 | 73 | $308.4M | 0 |
Holding changes this quarter
Fulcrum Capital LLC's most significant position changes for 2026-09-30: Sold out: Trade Desk Inc/the -class A (TTD); New buy: Valero Energy CORP (VLO); Sold out: Oneok Inc (OKE); New buy: ; Sold out: Dick's Sporting Goods Inc (DKS).
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | MSFT | Microsoft CORP | +3.5% | +21.44% | Add |
| 2 | AAPL | Apple Inc | +0.6% | +2.45% | Add |
| 3 | NVDA | Nvidia CORP | +0.5% | +1.90% | Add |
| 4 | FTNT | Fortinet Inc | +0.3% | -2.41% | Trim |
| 5 | CME | Cme Group Inc | +0.3% | +4.64% | Add |
| 6 | ULTA | Ulta Beauty Inc | +0.2% | +6.26% | Add |
| 7 | GOOG | Alphabet Inc-cl C | +0.2% | +168.10% | Add |
| 8 | TMO | Thermo Fisher Scientific Inc | +0.2% | +2.41% | Add |
| 9 | NOW | Servicenow Inc | +0.2% | +2.21% | Add |
| 10 | COIN | Coinbase Global Inc -class A | +0.2% | +5.36% | Add |
| 11 | NFLX | Netflix Inc | +0.2% | +17.65% | Add |
| 12 | DXCM | Dexcom Inc | +0.1% | +3.00% | Add |
| 13 | ANET | Arista Networks Inc | +0.1% | +4.24% | Add |
| 14 | AMZN | Amazon.com Inc | +0.1% | +4.06% | Add |
| 15 | MA | Mastercard Inc - A | +0.1% | +2.53% | Add |
| 16 | VLO | Valero Energy CORP | +0.1% | NEW | New buy |
| 17 | ADBE | Adobe Inc | +0.1% | -5.02% | Trim |
| 18 | ✓ | +0.1% | NEW | New buy | |
| 19 | PAYX | Paychex Inc | 0% | NEW | New buy |
| 20 | GE | General Electric | 0% | NEW | New buy |
| 21 | AMGN | Amgen Inc | 0% | -2.28% | Trim |
| 22 | VUG | Vanguard Growth ETF | 0% | +2.95% | Add |
| 23 | PM | Philip Morris International | 0% | +16.70% | Add |
| 24 | META | Meta Platforms Inc-class A | 0% | — | Unchanged |
| 25 | PFE | Pfizer Inc | 0% | — | Unchanged |
| 26 | GSL | Global Ship Lease, Inc. | 0% | — | Unchanged |
| 27 | INTU | Intuit Inc | — | +0.25% | Add |
| 28 | V | Visa Inc-class A Shares | — | +4.78% | Add |
| 29 | COP | Conocophillips | — | — | Unchanged |
| 30 | KO | Coca-cola Co/the | — | — | Unchanged |
| 31 | XLV | Ss Health Care Select Sector | — | — | Unchanged |
| 32 | MPT | Medical Properties Trust Inc | — | +13.95% | Add |
| 33 | WCC | Wesco International Inc | — | — | Unchanged |
| 34 | ABBV | Abbvie Inc | — | — | Unchanged |
| 35 | SPY | Ss Spdr S&p 500 ETF Trust-us | — | — | Unchanged |
| 36 | WTRG | Essential Utilities Inc | — | — | Unchanged |
| 37 | UL | Unilever Plc-sponsored Adr | — | — | Unchanged |
| 38 | ALSN | Allison Transmission Holding | — | — | Unchanged |
| 39 | BRK-B | Berkshire Hathaway Inc-cl B | — | — | Unchanged |
| 40 | VRTX | Vertex Pharmaceuticals Inc | 0% | +0.54% | Add |
| 41 | PG | Procter & Gamble Co/the | 0% | -16.98% | Trim |
| 42 | VYM | Vanguard High Dvd Yield ETF | 0% | +5.49% | Add |
| 43 | VPU | Vanguard Utilities ETF | 0% | — | Unchanged |
| 44 | PEG | Public Service Enterprise Gp | 0% | — | Unchanged |
| 45 | DRI | Darden Restaurants Inc | 0% | -10.56% | Trim |
| 46 | MS | Morgan Stanley | 0% | — | Unchanged |
| 47 | CSCO | Cisco Systems Inc | 0% | — | Unchanged |
| 48 | MAR | Marriott International -cl A | 0% | — | Unchanged |
| 49 | PCAR | Paccar Inc | 0% | — | Unchanged |
| 50 | ORI | Old Republic Intl CORP | 0% | — | Unchanged |
1–50 of 107
Filing History
FAQ
What is Fulcrum Capital LLC and what type of investor is it?
Fulcrum Capital LLC is an investment manager that files SEC Form 13F quarterly, disclosing its U.S. public equity holdings to regulators. As of the most recent reporting period (2026-09-30), the firm manages a tracked equity portfolio valued at approximately $524.9M, spread across 101 disclosed positions.
What are Fulcrum Capital LLC's largest equity positions?
Based on the latest 13F filing, Fulcrum Capital LLC's top holdings by market value are:
1. Microsoft CORP (MSFT) — $50.2M (9.6%)
2. Vanguard Mid-cap ETF (VO) — $39.6M (7.5%)
3. Apple Inc (AAPL) — $32.8M (6.3%)
4. Fortinet Inc (FTNT) — $28.8M (5.5%)
5. Nvidia CORP (NVDA) — $27.7M (5.3%)
What changes did Fulcrum Capital LLC make in its most recent portfolio filing?
In the latest reported quarter, Fulcrum Capital LLC made 75 notable position adjustments: 4 new positions were initiated, 42 existing holdings were added to, 23 positions were partially reduced, and 6 were completely exited. The largest of these moves: Sold out: Trade Desk Inc/the -class A (TTD); New buy: Valero Energy CORP (VLO); Sold out: Oneok Inc (OKE); New buy: ; Sold out: Dick's Sporting Goods Inc (DKS)
What sectors does Fulcrum Capital LLC focus on?
Fulcrum Capital LLC is concentrated in the following sectors based on its current disclosed equity portfolio:
• Information Technology: 43.6%
• Financials: 12.4%
• Health Care: 10.3%
• Communication Services: 9.6%
• Industrials: 9.2%
• Consumer Discretionary: 8.8%
Investment Profile
Fulcrum Capital LLC returned an annualized 18.4% over the trailing 36 months — underperforming the S&P 500 by 3.4 points — based on a reconstructed track record of its disclosed 13F positions, with a beta of 0.94 (roughly in line with the market) and a 33% quarterly batting average against the index.
Its portfolio is broadly diversified and long-term-holding, with 43.6% of the portfolio concentrated in Information Technology.
Its turnover score has fallen from 31 to 14 over the past 4 quarters — a shift toward longer holding periods.
It has added to its FTNT position over the past two quarters (+$14.6M, now $28.8M), while trimming DHI over the same stretch (-$2.5M, still holding $3.9M).
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Developer Access
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