Incline Global Management LLC
In its 13F for Q4 2024 (holdings as of December 31, 2024, filed February 14, 2025), Incline Global Management LLC reported 24 stock positions worth $131.9 million. Its top holding was Madison Square Garden Entert (MSGE) at 6.1% of the portfolio, followed by Stoneco Class A (STNE, 6.0%) and Wex (WEX, 6.0%). Compared with Q3 2024, it opened 5 new positions, sold out of 7, added to 1 and reduced 18. The biggest buy was a new position in Madison Square Garden Entert (MSGE) and the biggest sale an exit from Lululemon Athletica (LULU).
- Most Recent 13F
- Q2 2026
- Location
- New York, NY
- CIK
- 0001567195
- Portfolio Value
- $131.9M (Q4 2024)
- SEC Filing
- 0001172661-25-000897 ↗ filed Feb 14, 2025
Holdings Value
Holdings 24 stocks · $131.9M
| MSGE Madison Square Garden Entert | 6.08% | 225,090 | $8.0M | New |
| STNE Stoneco Ltd. Class A | 6.03% | 997,746 | $8.0M | Add +5.3% |
| WEX Wex Inc. | 6.03% | 45,331 | $7.9M | Reduce -10.5% |
| PINS Pinterest Inc. Class A | 6.02% | 273,687 | $7.9M | Reduce -17.5% |
| NWSA News Corp. Class A | 5.97% | 285,733 | $7.9M | Reduce -22.6% |
| UBER Uber Technologies Inc. | 5.93% | 129,782 | $7.8M | New |
| MSGS Madison Square Garden Sports | 5.92% | 34,613 | $7.8M | Reduce -21.8% |
| SSNC Ss&c Technologies Holdings | 5.92% | 103,072 | $7.8M | Reduce -0.1% |
| ASML ASML Holding NV-NY Reg SHS | 5.92% | 11,259 | $7.8M | New |
| CART Maplebear Inc. | 5.91% | 188,138 | $7.8M | Reduce -23.0% |
| CPAY Corpay Inc. | 5.89% | 22,973 | $7.8M | Reduce -26.3% |
| TRU Transunion | 5.89% | 83,792 | $7.8M | Reduce -8.6% |
| MTCH Match Group Inc. | 5.85% | 236,025 | $7.7M | Reduce -16.7% |
| EL Estee Lauder Companies Class A filed as LAUDER ESTEE COS INC | 5.66% | 99,542 | $7.5M | New |
| APO Apollo Global Management Inc. | 4.85% | 38,747 | $6.4M | Reduce -48.2% |
| ARES Ares Management Corp. Class A | 4.77% | 35,539 | $6.3M | Reduce -29.1% |
| META Meta Platforms Inc. Class A | 2.44% | 5,499 | $3.2M | Reduce -60.4% |
| GOOGL Alphabet Inc. Class A | 2.20% | 15,322 | $2.9M | Reduce -53.0% |
| AMZN Amazon.com Inc. | 1.37% | 8,250 | $1.8M | Reduce -76.2% |
| PYPL PayPal Holdings Inc. | 0.49% | 7,615 | $650K | Reduce -93.2% |
| PPLI People Inc. filed as IAC INC | 0.22% | 6,805 | $294K | Reduce -96.4% |
| PLAY Dave & Buster's Entertainmen | 0.22% | 9,987 | $292K | New |
| NKE Nike Inc. Class B | 0.22% | 3,783 | $286K | Reduce -96.6% |
| PAGS Pagseguro Digital Ltd. Class A | 0.20% | 42,747 | $268K | Reduce -96.4% |
Portfolio Sells Q3 2024 → Q4 2024
| LULU Lululemon Athletica Inc. | Sold out | 0.00% | −4.69 |
| SBUX Starbucks Corp. | Sold out | 0.00% | −4.44 |
| EXPE Expedia Group Inc. | Sold out | 0.00% | −4.36 |
| PAGS Pagseguro Digital Ltd. Class A | Reduce -96.4% | 0.20% | −4.35 |
| HHH Howard Hughes Holdings Inc. | Sold out | 0.00% | −4.33 |
| PPLI People Inc. | Reduce -96.4% | 0.22% | −4.26 |
| BKNG Booking Holdings Inc. | Sold out | 0.00% | −4.22 |
| NKE Nike Inc. Class B | Reduce -96.6% | 0.22% | −4.14 |
| PYPL PayPal Holdings Inc. | Reduce -93.2% | 0.49% | −3.41 |
| AMZN Amazon.com Inc. | Reduce -76.2% | 1.37% | −1.50 |
| META Meta Platforms Inc. Class A | Reduce -60.4% | 2.44% | −1.09 |
| SEG Seaport Entertainment Group | Sold out | 0.00% | −0.20 |
| GOOGL Alphabet Inc. Class A | Reduce -53.0% | 2.20% | −0.20 |
| V Visa Inc. Class A | Sold out | 0.00% | −0.16 |
| APO Apollo Global Management Inc. | Reduce -48.2% | 4.85% | +0.70 |
| MTCH Match Group Inc. | Reduce -16.7% | 5.85% | +1.09 |
| PINS Pinterest Inc. Class A | Reduce -17.5% | 6.02% | +1.25 |
| ARES Ares Management Corp. Class A | Reduce -29.1% | 4.77% | +1.30 |
| WEX Wex Inc. | Reduce -10.5% | 6.03% | +1.31 |
| CART Maplebear Inc. | Reduce -23.0% | 5.91% | +1.48 |
| CPAY Corpay Inc. | Reduce -26.3% | 5.89% | +1.57 |
| NWSA News Corp. Class A | Reduce -22.6% | 5.97% | +1.60 |
| TRU Transunion | Reduce -8.6% | 5.89% | +1.62 |
| MSGS Madison Square Garden Sports | Reduce -21.8% | 5.92% | +1.83 |
| SSNC Ss&c Technologies Holdings | Reduce -0.1% | 5.92% | +2.52 |
Portfolio Buys Q3 2024 → Q4 2024
Notes & Other Activity Q3 2024 → Q4 2024
| SEAPORT ENTERTAINMENT GR-RTS | RIGHT 10/10/2024 | Sold out | 16,763 | $49Kbefore exit |
Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 20 | $356.6M | FTAI, LITE, COHR, WEX, AMZN |
| Q1 2026 | 24 | $254.6M | EFOR, CUK, TEL, NCLH, CBRE |
| Q4 2025 | 30 | $292.7M | EFOR, VRT, NCLH, GVA, PRIM |
| Q3 2025 | 27 | $337.3M | WEX, NCLH, EFOR, BRO, TRU |
| Q2 2025 | 25 | $254.3M | CORZ, HUT, MSGS, WEX, NCLH |
| Q1 2025 | 26 | $162.2M | PPLI, WEX, MSGS, FLR, CART |
| Q4 2024 | 24 | $131.9M | MSGE, STNE, WEX, PINS, NWSA |
| Q3 2024 | 26 | $225.1M | PINS, MTCH, STNE, WEX, LULU |
| Q2 2024 | 24 | $242.6M | WEX, PPLI, STNE, TRU, MTCH |
| Q1 2024 | 22 | $315.0M | WEX, SBUX, MTCH, STNE, NKE |