Q3 2025 · 13F-HR
Fulcrum Asset Management LLPholdings as filed
Filed 2025-11-18 · accession 0001353395-25-000004
$135.8M
Reported value
172
Positions
2025-09-30
Period end
Holdings as filed
| CUSIP | Ticker | Issuer | Value | % port. | Shares | Class | Voting |
|---|---|---|---|---|---|---|---|
| 67066G104 | NVDA | NVIDIA CORP | $17.8M | 13.1% | 95,431 | Common | SOLE |
| 594918104 | MSFT | MICROSOFT CORP COMP | $12.1M | 8.94% | 23,430 | Common | SOLE |
| 11135F101 | AVGO | BROADCOM INC COMP | $7.9M | 5.84% | 24,046 | Common | SOLE |
| 023135106 | AMZN | AMAZON.COM INC COMP | $6.9M | 5.08% | 31,442 | Common | SOLE |
| 92826C839 | V | VISA INC-CLASS A SHARES | $6.1M | 4.52% | 24,563 | Common | SOLE |
| 46625H100 | JPM | JPMORGAN CHASE & CO | $4.8M | 3.52% | 15,168 | Common | SOLE |
| 05722G100 | BKR | BAKER HUGHES CO COMP | $3.0M | 2.21% | 62,031 | Common | SOLE |
| 57636Q104 | MA | MASTERCARD INC - A | $3.0M | 2.20% | 5,258 | Common | SOLE |
| 806857108 | SLB | SLB LTD | $3.0M | 2.19% | 86,661 | Common | SOLE |
| 595112103 | MU | MICRON TECHNOLOGY INC COMP | $2.6M | 1.90% | 15,428 | Common | SOLE |
| 030420103 | AWK | AMERICAN WATER WORKS CO INC COMP | $2.4M | 1.77% | 17,234 | Common | SOLE |
| 760759100 | RSG | REPUBLIC SERVICES INC COMP | $2.3M | 1.67% | 9,884 | Common | SOLE |
| 65339F101 | NEE | NEXTERA ENERGY INC COMP | $2.1M | 1.58% | 28,465 | Common | SOLE |
| 743315103 | PGR | PROGRESSIVE CORP COMP | $2.1M | 1.54% | 8,447 | Common | SOLE |
| 98417E109 | — | TRAVELERS COS INC/THE | $2.0M | 1.49% | 7,249 | Common | SOLE |
| 45841N107 | IBKR | INTERACTIVE BROKERS GRO-CL A COMP | $1.8M | 1.34% | 110,170 | Common | SOLE |
| 88642R109 | TDW | TIDEWATER INC COMP | $1.8M | 1.31% | 33,428 | Common | SOLE |
| 478160104 | JNJ | JOHNSON & JOHNSON | $1.6M | 1.19% | 8,726 | Common | SOLE |
| 023608102 | AEE | AMEREN CORPORATION COMP | $1.6M | 1.16% | 15,096 | Common | SOLE |
| 883556102 | TMO | THERMO FISHER SCIENTIFIC INC COMP | $1.6M | 1.15% | 3,217 | Common | SOLE |
| 101137107 | BSX | BOSTON SCIENTIFIC CORP | $1.6M | 1.14% | 15,885 | Common | SOLE |
| 697435105 | PANW | PALO ALTO NETWORKS INC COMP | $1.5M | 1.14% | 7,596 | Common | SOLE |
| 30040W108 | ES | EVERSOURCE ENERGY COMP | $1.5M | 1.08% | 20,576 | Common | SOLE |
| 052769106 | ADSK | AUTODESK INC COMP | $1.4M | 1.03% | 4,391 | Common | SOLE |
| 723484101 | PNW | PINNACLE WEST CAPITAL COMP | $1.4M | 1.03% | 15,550 | Common | SOLE |
| 337738108 | FISV | FISERV INC COMP | $1.3M | 0.99% | 10,464 | Common | SOLE |
| 94106B101 | WCN | WASTE CONNECTIONS INC | $1.3M | 0.98% | 7,606 | Common | SOLE |
| 78409V104 | SPGI | S&P GLOBAL INC | $1.2M | 0.91% | 2,550 | Common | SOLE |
| 91324P102 | UNH | UNITEDHEALTH GROUP INC COMP | $1.2M | 0.86% | 3,383 | Common | SOLE |
| 219948106 | CPAY | CORPAY INC COMP | $1.2M | 0.86% | 4,049 | Common | SOLE |
| 617446448 | MS | MORGAN STANLEY COMP | $1.1M | 0.85% | 7,229 | Common | SOLE |
| 060505104 | BAC | BANK OF AMERICA CORP | $1.1M | 0.85% | 22,250 | Common | SOLE |
| 038222105 | AMAT | APPLIED MATERIALS INC COMP | $1.1M | 0.78% | 5,200 | Common | SOLE |
| 874054109 | TTWO | TAKE-TWO INTERACTIVE SOFTWRE COMP | $1.0M | 0.77% | 4,041 | Common | SOLE |
| 94106L109 | WM | WASTE MANAGEMENT INC | $1.0M | 0.76% | 4,689 | Common | SOLE |
| 032095101 | APH | AMPHENOL CORP-CL A COMP | $1.0M | 0.75% | 8,207 | Common | SOLE |
| 209115104 | ED | CONSOLIDATED EDISON INC COMP | $1.0M | 0.75% | 10,074 | Common | SOLE |
| 025537101 | AEP | AMERICAN ELECTRIC POWER COMP | $995,625 | 0.73% | 8,850 | Common | SOLE |
| 872540109 | TJX | TJX COMPANIES INC | $977,090 | 0.72% | 6,760 | Common | SOLE |
| 018802108 | LNT | ALLIANT ENERGY CORP COMP | $956,278 | 0.70% | 14,186 | Common | SOLE |
| 363576109 | AJG | ARTHUR J GALLAGHER & CO COMP | $937,273 | 0.69% | 3,026 | Common | SOLE |
| 125523100 | CI | CIGNA CORP | $888,963 | 0.65% | 3,084 | Common | SOLE |
| 96208T104 | WEX | WEX INC COMP | $886,579 | 0.65% | 5,628 | Common | SOLE |
| 23331A109 | DHI | DR HORTON INC | $863,450 | 0.64% | 5,095 | Common | SOLE |
| 92939U106 | WEC | WEC ENERGY GROUP INC COMP | $853,696 | 0.63% | 7,450 | Common | SOLE |
| 30034W106 | EVRG | EVERGY INC COMP | $845,799 | 0.62% | 11,126 | Common | SOLE |
| 713448108 | PEP | PEPSICO INC | $839,691 | 0.62% | 5,979 | Common | SOLE |
| 816851109 | SRE | SEMPRA ENERGY COMP | $835,104 | 0.61% | 9,281 | Common | SOLE |
| 007903107 | AMD | ADVANCED MICRO DEVICES COMP | $819,952 | 0.60% | 5,068 | Common | SOLE |
| 038336103 | ATR | APTARGROUP INC COMP | $796,881 | 0.59% | 5,962 | Common | SOLE |
| 58933Y105 | MRK | MERCK & CO. INC. COMP | $785,837 | 0.58% | 9,363 | Common | SOLE |
| 169656105 | CMG | CHIPOTLE MEXICAN GRILL INC COMP | $711,455 | 0.52% | 18,154 | Common | SOLE |
| 03990B101 | ARES | ARES MANAGEMENT CORP - A COMP | $690,885 | 0.51% | 4,321 | Common | SOLE |
| 79466L302 | CRM | SALESFORCE.COM INC | $657,438 | 0.48% | 2,774 | Common | SOLE |
| 036752103 | ELV | ELEVANCE HEALTH INC COMP | $636,223 | 0.47% | 1,969 | Common | SOLE |
| 526057104 | LEN | LENNAR CORP-A | $598,816 | 0.44% | 11,539 | Common | SOLE |
| 00724F101 | ADBE | ADOBE SYSTEMS INC | $475,154 | 0.35% | 1,347 | Common | SOLE |
| 69370C100 | PTC | PTC INC COMP | $469,788 | 0.35% | 2,314 | Common | SOLE |
| 55354G100 | MSCI | MSCI INC COMP | $436,906 | 0.32% | 770 | Common | SOLE |
| 00206R102 | T | AT&T INC COMP | $417,839 | 0.31% | 14,796 | Common | SOLE |
| 171340102 | CHD | CHURCH & DWIGHT CO INC COMP | $416,944 | 0.31% | 4,758 | Common | SOLE |
| 92343V104 | VZ | VERIZON COMMUNICATIONS INC COMP | $409,043 | 0.30% | 9,307 | Common | SOLE |
| 461202103 | INTU | INTUIT INC COMP | $398,819 | 0.29% | 584 | Common | SOLE |
| 675232102 | OII | OCEANEERING INTL INC COMP | $396,976 | 0.29% | 16,020 | Common | SOLE |
| 512807306 | LRCX | LAM RESEARCH CORP COMP | $386,034 | 0.28% | 2,883 | Common | SOLE |
| 81762P102 | NOW | SERVICENOW INC COMP | $379,155 | 0.28% | 412 | Common | SOLE |
| 482480100 | KLAC | KLA CORP COMP | $316,030 | 0.23% | 293 | Common | SOLE |
| 548661107 | LOW | LOWE'S COS INC | $305,844 | 0.23% | 1,217 | Common | SOLE |
| 952845105 | WFG | WEST FRASER TIMBER CO LTD | $292,737 | 0.22% | 4,424 | Common | SOLE |
| 872590104 | TMUS | T-MOBILE US INC COMP | $277,202 | 0.20% | 1,158 | Common | SOLE |
| 053015103 | ADP | AUTOMATIC DATA PROCESSING | $259,161 | 0.19% | 883 | Common | SOLE |
| 184496107 | CLH | CLEAN HARBORS INC | $239,651 | 0.18% | 1,032 | Common | SOLE |
| 42330P107 | HLX | HELIX ENERGY SOLUTIONS GROUP COMP | $236,672 | 0.17% | 36,078 | Common | SOLE |
| 74460D109 | PSA | PUBLIC STORAGE COMP | $236,568 | 0.17% | 819 | Common | SOLE |
| 74340W103 | PLD | PROLOGIS INC | $230,643 | 0.17% | 2,014 | Common | SOLE |
| 571748102 | MRSH | MARSH & MCLENNAN COS | $215,234 | 0.16% | 1,068 | Common | SOLE |
| 110122108 | BMY | BRISTOL-MYERS SQUIBB CO | $204,529 | 0.15% | 4,535 | Common | SOLE |
| 13321L108 | CCJ | CAMECO CORP COMP | $202,557 | 0.15% | 2,414 | Common | SOLE |
| 12572Q105 | CME | CME GROUP INC COMP | $199,400 | 0.15% | 738 | Common | SOLE |
| 87612G101 | TRGP | TARGA RESOURCES CORP COMP | $192,001 | 0.14% | 1,146 | Common | SOLE |
| 70450Y103 | PYPL | PAYPAL HOLDINGS INC | $187,299 | 0.14% | 2,793 | Common | SOLE |
| 682680103 | OKE | ONEOK INC COMP | $186,949 | 0.14% | 2,562 | Common | SOLE |
| 654106103 | NKE | NIKE INC -CL B COMP | $181,159 | 0.13% | 3,227 | Common | SOLE |
| 756109104 | O | REALTY INCOME CORP | $169,043 | 0.12% | 5,026 | Common | SOLE |
| 29250N105 | ENB | ENBRIDGE INC COMP | $167,830 | 0.12% | 3,326 | Common | SOLE |
| 969457100 | WMB | WILLIAMS COS INC COMP | $156,031 | 0.11% | 2,463 | Common | SOLE |
| 278865100 | ECL | ECOLAB INC | $132,822 | 0.10% | 485 | Common | SOLE |
| 651639106 | NEM | NEWMONT GOLDCORP CORP COMP | $125,032 | 0.09% | 1,483 | Common | SOLE |
| 020002101 | ALL | ALLSTATE CORP | $118,701 | 0.09% | 553 | Common | SOLE |
| 34959E109 | FTNT | FORTINET INC COMP | $116,030 | 0.09% | 1,380 | Common | SOLE |
| 65340P106 | NXE | NEXGEN ENERGY LTD COMP | $112,392 | 0.08% | 12,556 | Common | SOLE |
| 36168Q104 | GFL | GFL ENVIRONMENTAL INC-SUB VT COMP | $112,101 | 0.08% | 3,210 | Common | SOLE |
| 49456B101 | KMI | KINDER MORGAN INC COMP | $108,994 | 0.08% | 3,850 | Common | SOLE |
| 55336V100 | MPLX | MPLX LP COMP | $105,944 | 0.08% | 2,121 | Common | SOLE |
| 907818108 | UNP | UNION PACIFIC CORP | $104,948 | 0.08% | 444 | Common | SOLE |
| 98138H101 | WDAY | WORKDAY INC-CLASS A COMP | $103,995 | 0.08% | 1,597 | Common | SOLE |
| 03676B102 | AM | ANTERO MIDSTREAM CORP COMP | $103,051 | 0.08% | 5,301 | Common | SOLE |
| 45168D104 | IDXX | IDEXX LABORATORIES INC | $88,806 | 0.07% | 139 | Common | SOLE |
| 655844108 | NSC | NORFOLK SOUTHERN CORP | $76,605 | 0.06% | 255 | Common | SOLE |
| 126408103 | CSX | CSX CORP | $75,636 | 0.06% | 2,130 | Common | SOLE |
| 253868103 | DLR | DIGITAL REALTY TRUST INC | $73,460 | 0.05% | 768 | Common | SOLE |
| 35671D857 | FCX | FREEPORT-MCMORAN INC COMP | $69,694 | 0.05% | 1,777 | Common | SOLE |
| 293792107 | EPD | ENTERPRISE PRODUCTS PARTNERS COMP | $68,075 | 0.05% | 2,177 | Common | SOLE |
| 916896103 | UEC | URANIUM ENERGY CORP COMP | $66,767 | 0.05% | 5,005 | Common | SOLE |
| 22052L104 | CTVA | CORTEVA INC COMP | $65,331 | 0.05% | 966 | Common | SOLE |
| 91912E105 | VALE | VALE SA-SP ADR COMP | $64,878 | 0.05% | 5,974 | Common | SOLE |
| 888787108 | TOST | TOAST INC-CLASS A COMP | $62,459 | 0.05% | 17,800 | Common | SOLE |
| 98978V103 | ZTS | ZOETIS INC | $60,723 | 0.04% | 415 | Common | SOLE |
| 62944T105 | NVR | NVR INC COMP | $56,243 | 0.04% | 7 | Common | SOLE |
| 595017104 | MCHP | MICROCHIP TECHNOLOGY INC COMP | $51,761 | 0.04% | 806 | Common | SOLE |
| 518439104 | EL | ESTEE LAUDER COMPANIES-CL A COMP | $50,933 | 0.04% | 3,716 | Common | SOLE |
| 136375102 | CNI | CANADIAN NATL RAILWAY CO COMP | $50,733 | 0.04% | 538 | Common | SOLE |
| 74736L109 | QTWO | Q2 HOLDINGS INC COMP | $50,265 | 0.04% | 1,255 | Common | SOLE |
| 726503105 | PAA | PLAINS ALL AMER PIPELINE LP COMP | $50,225 | 0.04% | 2,944 | Common | SOLE |
| 29444U700 | EQIX | EQUINIX INC | $49,402 | 0.04% | 114 | Common | SOLE |
| 679295105 | OKTA | OKTA INC COMP | $47,226 | 0.03% | 759 | Common | SOLE |
| 248356107 | DNN | DENISON MINES CORP COMP | $46,932 | 0.03% | 17,057 | Common | SOLE |
| 11133T103 | BR | BROADRIDGE FINANCIAL SOLUTIO COMP | $46,681 | 0.03% | 196 | Common | SOLE |
| 745867101 | PHM | PULTEGROUP INC COMP | $46,642 | 0.03% | 353 | Common | SOLE |
| 98956A105 | ZETA | ZETA GLOBAL HOLDINGS CORP-A COMP | $46,437 | 0.03% | 11,958 | Common | SOLE |
| 67077M108 | NTR | NUTRIEN LTD | $45,853 | 0.03% | 781 | Common | SOLE |
| 706327103 | PBA | PEMBINA PIPELINE CORP COMP | $45,760 | 0.03% | 1,131 | Common | SOLE |
| 67059N108 | NTNX | NUTANIX INC - A COMP | $44,863 | 0.03% | 1,090 | Common | SOLE |
| 32054K103 | FR | FIRST INDUSTRIAL REALTY TR | $43,599 | 0.03% | 1,531 | Common | SOLE |
| 88146M101 | TRNO | TERRENO REALTY CORP | $41,823 | 0.03% | 1,332 | Common | SOLE |
| 147448104 | CWST | CASELLA WASTE SYSTEMS INC-A COMP | $41,652 | 0.03% | 525 | Common | SOLE |
| 444859102 | HUM | HUMANA INC | $41,627 | 0.03% | 160 | Common | SOLE |
| 929089100 | VOYA | VOYA FINANCIAL INC | $41,589 | 0.03% | 556 | Common | SOLE |
| 29273V100 | ET | ENERGY TRANSFER LP COMP | $41,510 | 0.03% | 3,017 | Common | SOLE |
| 958669103 | WES | WESTERN MIDSTREAM PARTNERS L COMP | $41,176 | 0.03% | 1,048 | Common | SOLE |
| 277276101 | EGP | EASTGROUP PROPERTIES INC | $40,643 | 0.03% | 434 | Common | SOLE |
| 292671708 | UUUU | ENERGY FUELS INC COMP | $40,008 | 0.03% | 2,606 | Common | SOLE |
| 85254J102 | STAG | STAG INDUSTRIAL INC | $38,426 | 0.03% | 1,968 | Common | SOLE |
| 889478103 | TOL | TOLL BROTHERS INC COMP | $37,221 | 0.03% | 487 | Common | SOLE |
| 46187W107 | INVH | INVITATION HOMES INC | $36,902 | 0.03% | 2,274 | Common | SOLE |
| 01644J108 | ALKT | ALKAMI TECHNOLOGY INC COMP | $36,860 | 0.03% | 2,682 | Common | SOLE |
| 87724P106 | TMHC | TAYLOR MORRISON HOME CORP-A | $36,668 | 0.03% | 1,004 | Common | SOLE |
| 48666K109 | KBH | KB HOME | $36,338 | 0.03% | 616 | Common | SOLE |
| 637417106 | NNN | NATIONAL RETAIL PROPERTIES | $35,659 | 0.03% | 1,514 | Common | SOLE |
| 15643U104 | LEU | CENTRUS ENERGY CORP-CLASS A COMP | $34,108 | 0.03% | 116 | Common | SOLE |
| 099502106 | BAH | BOOZ ALLEN HAMILTON HOLDINGS COMP | $31,784 | 0.02% | 318 | Common | SOLE |
| 76169C100 | REXR | REXFORD INDUSTRIAL REALTY IN | $31,161 | 0.02% | 1,370 | Common | SOLE |
| 30225T102 | EXR | EXTRA SPACE STORAGE INC COMP | $28,384 | 0.02% | 364 | Common | SOLE |
| 15135B101 | CNC | CENTENE CORP COMP | $27,509 | 0.02% | 771 | Common | SOLE |
| 22822V101 | CCI | CROWN CASTLE INTL CORP | $26,533 | 0.02% | 497 | Common | SOLE |
| 92538J106 | VERX | VERTEX INC - CLASS A COMP | $26,458 | 0.02% | 40,074 | Common | SOLE |
| 371927104 | GEL | GENESIS ENERGY L.P. COMP | $25,784 | 0.02% | 1,544 | Common | SOLE |
| 59522J103 | MAA | MID-AMERICA APARTMENT COMM | $25,512 | 0.02% | 330 | Common | SOLE |
| 87265H109 | T86 | TRI POINTE GROUP INC | $24,584 | 0.02% | 1,308 | Common | SOLE |
| 833635105 | SQM | QUIMICA Y MINERA CHIL-SP ADR COMP | $21,705 | 0.02% | 1,010 | Common | SOLE |
| 871607107 | SNPS | SYNOPSYS INC COMP | $21,216 | 0.02% | 43 | Common | SOLE |
| 053484101 | AVB | AVALONBAY COMMUNITIES INC | $20,200 | 0.01% | 189 | Common | SOLE |
| 20717M103 | 8QR | CONFLUENT INC-CLASS A COMP | $19,062 | 0.01% | 12,919 | Common | SOLE |
| 29472R108 | ELS | EQUITY LIFESTYLE PROPERTIES | $18,538 | 0.01% | 552 | Common | SOLE |
| 78410G104 | SBAC | SBA COMMUNICATIONS CORP | $17,972 | 0.01% | 168 | Common | SOLE |
| 133131102 | CPT | CAMDEN PROPERTY TRUST | $17,783 | 0.01% | 301 | Common | SOLE |
| 902653104 | UDR | UDR INC | $16,513 | 0.01% | 801 | Common | SOLE |
| 61945C103 | MOS | MOSAIC CO/THE COMP | $16,300 | 0.01% | 470 | Common | SOLE |
| 460146103 | IP | INTERNATIONAL PAPER CO | $16,147 | 0.01% | 348 | Common | SOLE |
| 866674104 | SUI | SUN COMMUNITIES INC | $15,060 | 0.01% | 211 | Common | SOLE |
| 29476L107 | EQR | EQUITY RESIDENTIAL | $14,934 | 0.01% | 417 | Common | SOLE |
| 297178105 | ESS | ESSEX PROPERTY TRUST INC | $13,032 | 0.01% | 88 | Common | SOLE |
| 59001A102 | MTH | MERITAGE HOMES CORP | $12,463 | 0.01% | 311 | Common | SOLE |
| 229663109 | CUBE | CUBESMART COMP | $12,328 | 0.01% | 548 | Common | SOLE |
| 85208T107 | CXM | SPRINKLR INC-A COMP | $11,832 | 0.01% | 35,585 | Common | SOLE |
| 546347105 | LPX | LOUISIANA-PACIFIC CORP | $9,151 | 0.01% | 103 | Common | SOLE |
| 81686C104 | 628 | SEMRUSH HOLDINGS INC-A COMP | $9,119 | 0.01% | 6,993 | Common | SOLE |
| 45378A106 | IRT | INDEPENDENCE REALTY TRUST IN COMP | $8,125 | 0.01% | 896 | Common | SOLE |
| 268150109 | DT | DYNATRACE INC COMP | $7,988 | 0.01% | 298 | Common | SOLE |
| 50187T106 | LGIH | LGI HOMES INC | $7,524 | 0.01% | 263 | Common | SOLE |
| 637870106 | NSA | NATIONAL STORAGE AFFILIATES COMP | $6,354 | 0.00% | 521 | Common | SOLE |
| 47074L105 | JAMF | JAMF HOLDING CORP COMP | $3,132 | 0.00% | 529 | Common | SOLE |
Source: SEC EDGAR · raw 13F holdings as filed. The Class column shows the option type when reported (Put/Call) or Common when the issuer's equity is held directly. 13F discloses long positions only.