Incision Capital Management LP

In its 13F for Q2 2026 (holdings as of June 30, 2026, filed August 14, 2026), Incision Capital Management LP reported 5 stock positions worth $103.2 million. Its top holding was Sea Ltd.-ADR (SE) at 30.2% of the portfolio, followed by Crocs (CROX, 24.5%) and Teck Resources Ltd.-CLS B (TECK, 18.7%). Compared with Q1 2026, it opened 1 new position, added to 1 and reduced 3. The biggest buy was a new position in Eldorado Gold (EGO) and the biggest sale Crocs (CROX, shares −40%).

Most Recent 13F
Q2 2026
Location
SAN FRANCISCO, CA
CIK
0002049997
Portfolio Value
$103.2M (Q2 2026)
SEC Filing
0001104659-26-096756 ↗ filed Aug 14, 2026

Holdings Value

0$50.0M$100.0M$150.0M Q4 2025: $110.2M Q4 2025 Q1 2026: $90.6M Q1 2026 Q2 2026: $103.2M $103.2M Q2 2026

Holdings 5 stocks · $103.2M
SE Sea Ltd.-ADR 30.18% 325,000 $31.1M Add +4.8%
CROX Crocs Inc. 24.55% 210,000 $25.3M Reduce -40.0%
TECK Teck Resources Ltd.-CLS B 18.72% 325,000 $19.3M Reduce -13.3%
EGO Eldorado Gold Corp. 15.06% 500,000 $15.5M New
EXE Expand Energy Corp. 11.49% 130,000 $11.9M Reduce -13.3%

Portfolio Sells Q1 2026 → Q2 2026
CROX Crocs Inc. Reduce -40.0% 24.55% −7.52
EXE Expand Energy Corp. Reduce -13.3% 11.49% −6.69
TECK Teck Resources Ltd.-CLS B Reduce -13.3% 18.72% −2.69

Portfolio Buys Q1 2026 → Q2 2026
EGO Eldorado Gold Corp. New 15.06% +15.06
SE Sea Ltd.-ADR Add +4.8% 30.18% +1.84

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 5$103.2MSE, CROX, TECK, EGO, EXE
Q1 2026 4$90.6MCROX, SE, TECK, EXE
Q4 2025 5$110.2MCROX, EQX, TECK, CVE, SE