Institutional Manager · CIK 0001724090
Fulcrum Capital LLC
SEATTLE, WA · File #028-18230
Latest AUM
$498.0M
Positions
99
Top-10 Concentration
50.8%
Filings
9
Portfolio Value Over Time
2024-03
2024-06
2024-09
2024-12
2025-03
2025-06
2025-09
2025-12
Biggest QoQ Changes
Ranked by conviction flow (share change × current price) so mark-to-market moves don't dominate. Price effect column shows how much of the $ change was just the stock moving.
| Action | Issuer | Ticker / CUSIP | Δ Shares | Flow ($) | Price Effect |
|---|---|---|---|---|---|
| ADD | NETFLIX INC | NFLX | +108,390 | +$10.2M | -$12.6M |
| EXITED | ELECTRONIC ARTS INC | 285512109 | -44,637 | -$9.0M | $0 |
| NEW | ELI LILLY & CO | LLY | +3,818 | +$4.1M | $0 |
| NEW | PINTEREST INC | PINS | +136,123 | +$3.5M | $0 |
| NEW | THE TRADE DESK INC | 88339J105 | +68,591 | +$2.6M | $0 |
| EXITED | ALIGN TECHNOLOGY INC | 016255101 | -11,881 | -$1.5M | $0 |
| REDUCE | ALPHABET INC | GOOG | -4,439 | -$1.4M | +$7.3M |
| ADD | VANGUARD INDEX FDS | 922908629 | +2,023 | +$587,115 | -$470,659 |
| ADD | MASTERCARD INCORPORATED | MA | +982 | +$560,612 | +$55,902 |
| ADD | S&P GLOBAL INC | SPGI | +999 | +$522,067 | +$743,685 |
Sector Allocation
Filing History
- 13F HOLDINGS REPORTQ/E Dec 202599 pos · $498.0M
- 13F HOLDINGS REPORTQ/E Sep 2025100 pos · $487.7M
- 13F HOLDINGS REPORTQ/E Jun 202599 pos · $472.8M
- 13F HOLDINGS REPORTQ/E Mar 2025107 pos · $451.1M
- 13F HOLDINGS REPORTQ/E Dec 2024113 pos · $477.6M
- 13F HOLDINGS REPORTQ/E Sep 2024109 pos · $459.1M
- 13F HOLDINGS REPORTQ/E Jun 2024109 pos · $439.2M
- 13F HOLDINGS REPORTQ/E Mar 2024116 pos · $421.4M
- 13F HOLDINGS REPORTQ/E Dec 2023109 pos · $344.5M
Top 20 Holdings — Dec 2025
| # | Issuer | Ticker | Shares | Value | % of Portfolio |
|---|---|---|---|---|---|
| 1 | VANGUARD INDEX FDS | 922908629 | 135,733 | $39.4M | 8.24% |
| 2 | MICROSOFT CORP | MSFT | 77,012 | $37.2M | 7.80% |
| 3 | ALPHABET INC | GOOG | 100,546 | $31.5M | 6.59% |
| 4 | APPLE INC | AAPL | 101,083 | $27.5M | 5.75% |
| 5 | AMAZON COM INC | AMZN | 107,962 | $24.9M | 5.22% |
| 6 | NVIDIA CORPORATION | NVDA | 128,971 | $24.1M | 5.03% |
| 7 | MASTERCARD INCORPORATED | MA | 27,982 | $16.0M | 3.34% |
| 8 | JPMORGAN CHASE & CO. | VYLD | 45,214 | $14.6M | 3.05% |
| 9 | TRANE TECHNOLOGIES PLC | TT | 37,043 | $14.4M | 3.02% |
| 10 | LAM RESEARCH CORP | LRCX | 78,023 | $13.4M | 2.80% |
| 11 | ADOBE INC | ADBE | 36,296 | $12.7M | 2.66% |
| 12 | CME GROUP INC | CME | 43,835 | $12.0M | 2.51% |
| 13 | EDWARDS LIFESCIENCES CORP | EW | 137,220 | $11.7M | 2.45% |
| 14 | FORTINET INC | FTNT | 144,106 | $11.4M | 2.40% |
| 15 | S&P GLOBAL INC | SPGI | 21,726 | $11.4M | 2.38% |
| 16 | NETFLIX INC | NFLX | 119,761 | $11.2M | 2.35% |
| 17 | WASTE MGMT INC DEL | 94106L109 | 49,149 | $10.8M | 2.26% |
| 18 | ULTA BEAUTY INC | ULTA | 17,234 | $10.4M | 2.18% |
| 19 | FIRST SOLAR INC | FSLR | 38,752 | $10.1M | 2.12% |
| 20 | INTUIT | INTU | 15,002 | $9.9M | 2.08% |