Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.
Fulcrum Therapeutics, Inc. (FULC) is the issuer in an amended beneficial-ownership report in which Montanova Capital, LLC, Averill Master Fund, Ltd., and Aaron Cowen each reported beneficial ownership of 0 common shares as of September 30, 2026. Each also reported 0% ownership and no sole or shared voting or dispositive power.
The report states that the securities are directly owned by advisory clients of Montanova Capital and that none of those clients may be deemed to beneficially own more than 5% of the common stock. The reporting persons disclaim beneficial ownership except to the extent of any pecuniary interest.
Beneficial ownership — Montanova Capital, LLC0 shares; 0%Reported as of September 30, 2026
Beneficial ownership — Averill Master Fund, Ltd.0 shares; 0%Reported as of September 30, 2026
Beneficial ownership — Aaron Cowen0 shares; 0%Reported as of September 30, 2026
Key Terms
beneficially owned, sole voting power, shared dispositive power, pecuniary interest
4 terms
beneficially ownedregulatory
"Aggregate Amount Beneficially Owned by Each Reporting Person"
Beneficially owned describes securities or assets where a person has the economic rights and control—such as the right to receive dividends and to direct voting—even if legal title is held in another name. Think of it like having the keys and using a car that’s registered to someone else: you get the benefits and make decisions. Investors care because beneficial ownership reveals who truly controls value and voting power, affecting corporate decisions and takeover dynamics.
sole voting powerregulatory
"Sole Voting Power 0.00"
Sole voting power is the exclusive right to cast votes attached to a shareholder’s stock without needing approval from anyone else. Like holding the only remote control for a TV, it lets that holder decide corporate matters such as board members, mergers, and policy changes, making it important to investors because it concentrates control and can strongly influence a company’s strategy and the value of its shares.
shared dispositive powerregulatory
"Shared Dispositive Power 0.00"
pecuniary interestregulatory
"except to the extent of his, her or its pecuniary interest therein"
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
How many FULC shares did Montanova Capital, Averill Master Fund and Aaron Cowen report owning?
Montanova Capital, LLC, Averill Master Fund, Ltd., and Aaron Cowen each reported 0 FULC common shares beneficially owned as of September 30, 2026. The report states the securities are directly owned by Montanova Capital advisory clients, none of which may be deemed to beneficially own more than 5% of the common stock.
Address or principal business office or, if none, residence:
Montanova Capital, LLC
11 E 26th Street, 16th Floor
New York, New York 10010
United States of America
Averill Master Fund, Ltd.
c/o Maples Corporate Services Limited
P.O. Box 309
Ugland House
Grand Cayman KY1-1104
Cayman Islands
Aaron Cowen
c/o Montanova Capital, LLC
11 E 26th Street, 16th Floor
New York, New York 10010
United States of America
(c)
Citizenship:
Montanova Capital, LLC - Delaware
Averill Master Fund, Ltd. - Cayman Islands
Aaron Cowen - United States
(d)
Title of class of securities:
Common Stock, par value $0.001 per share
(e)
CUSIP No.:
359616109
Item 3.
If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)
Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)
Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)
Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)
Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)
An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)
An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)
A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)
A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)
A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)
A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J),
please specify the type of institution:
(k)
Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Ownership of more than 5 Percent on Behalf of Another Person.
If any other person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, such securities, a statement to that effect should be included in response to this item and, if such interest relates to more than 5 percent of the class, such person should be identified. A listing of the shareholders of an investment company registered under the Investment Company Act of 1940 or the beneficiaries of employee benefit plan, pension fund or endowment fund is not required.
All of the securities reported in this Schedule 13G Amendment No. 3 are directly owned by advisory clients of Montanova Capital, LLC. None of those advisory clients may be deemed to beneficially own more than 5% of the Common Stock, par value $0.001 per share.
Item 7.
Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
If a parent holding company has filed this schedule, pursuant to Rule 13d-1(b)(ii)(G), so indicate under Item 3(g) and attach an exhibit stating the identity and the Item 3 classification of the relevant subsidiary. If a parent holding company has filed this schedule pursuant to Rule 13d-1(c) or Rule 13d-1(d), attach an exhibit stating the identification of the relevant subsidiary.
Please see Exhibit B attached hereto.
Item 8.
Identification and Classification of Members of the Group.
Not Applicable
Item 9.
Notice of Dissolution of Group.
Not Applicable
Item 10.
Certifications:
By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under § 240.14a-11.
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.
Montanova Capital, LLC
Signature:
/s/ Andrew Nathanson
Name/Title:
Andrew Nathanson, General Counsel and Chief Compliance Officer
Date:
11/13/2026
Averill Master Fund, Ltd.
Signature:
/s/ Andrew Nathanson
Name/Title:
Andrew Nathanson, Authorized Signatory
Date:
11/13/2026
Aaron Cowen
Signature:
/s/ Aaron Cowen
Name/Title:
Aaron Cowen
Date:
11/13/2026
Comments accompanying signature: * Each Reporting Person disclaims beneficial ownership of the reported securities except to the extent of his, her or its pecuniary interest therein, and this report shall not be deemed an admission that such Reporting Person is the beneficial owner of the securities for purposes of Section 16 of the Securities Exchange Act of 1934, as amended, or for any other purpose.
To the extent that "ownership of 5 percent or less of a class" was indicated in Item 5, such response only applies to the Reporting Person(s) that indicated elsewhere herein that it beneficially owns five percent (5%) or less of the class.
Exhibit Information
Exhibit A - Joint Filing Agreement
Exhibit B - Control Person Identification
