Incline Global Management LLC
In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 14, 2025), Incline Global Management LLC reported 27 stock positions worth $337.3 million. Its top holding was Wex (WEX) at 4.6% of the portfolio, followed by Norwegian Cruise Line Holdin (NCLH, 4.6%) and Everforth (EFOR, 4.6%). Compared with Q2 2025, it opened 11 new positions, sold out of 9, added to 11 and reduced 5. The biggest buy was a new position in Everforth (EFOR) and the biggest sale an exit from Core Scientific (CORZ).
- Most Recent 13F
- Q2 2026
- Location
- New York, NY
- CIK
- 0001567195
- Portfolio Value
- $337.3M (Q3 2025)
- SEC Filing
- 0001172661-25-005000 ↗ filed Nov 14, 2025
Holdings Value
Holdings 27 stocks · $337.3M
| WEX Wex Inc. | 4.62% | 99,017 | $15.6M | Add +11.6% |
| NCLH Norwegian Cruise Line Holdin | 4.62% | 632,949 | $15.6M | Reduce -0.2% |
| EFOR Everforth Inc. filed as ASGN INC | 4.62% | 328,792 | $15.6M | New |
| BRO Brown & Brown Inc. | 4.61% | 165,825 | $15.6M | New |
| TRU Transunion | 4.61% | 185,494 | $15.5M | Add +47.0% |
| MORN Morningstar Inc. | 4.61% | 66,981 | $15.5M | New |
| CART Maplebear Inc. | 4.61% | 422,576 | $15.5M | Add +81.1% |
| PPLI People Inc. filed as IAC INC | 4.57% | 452,404 | $15.4M | Add +32.4% |
| PLAY Dave & Buster's Entertainmen | 4.56% | 846,219 | $15.4M | Add +375.2% |
| CPAY Corpay Inc. | 4.54% | 53,147 | $15.3M | Add +61.8% |
| LULU Lululemon Athletica Inc. | 4.52% | 85,611 | $15.2M | New |
| APO Apollo Global Management Inc. | 4.49% | 113,728 | $15.2M | Add +44.9% |
| FLR Fluor Corp. | 4.39% | 352,242 | $14.8M | Add +45.0% |
| MSGS Madison Square Garden Sports | 4.22% | 62,665 | $14.2M | Add +0.1% |
| ZD Ziff Davis Inc. | 4.20% | 371,721 | $14.2M | New |
| PAGS Pagseguro Digital Ltd. Class A | 4.02% | 1,355,436 | $13.6M | Add +77.3% |
| CPRT Copart Inc. | 3.88% | 291,228 | $13.1M | New |
| FLUT Flutter Entertainment PLC-Di | 3.51% | 46,558 | $11.8M | New |
| JLL Jones Lang Lasalle Inc. | 3.50% | 39,547 | $11.8M | Reduce -3.4% |
| DBRG Digitalbridge Group Inc. | 3.47% | 1,001,058 | $11.7M | New |
| GVA Granite Construction Inc. | 3.32% | 101,973 | $11.2M | Reduce -14.5% |
| NWSA News Corp. Class A | 2.78% | 305,834 | $9.4M | Reduce -0.5% |
| VRT Vertiv Holdings Co. Class A | 1.83% | 40,875 | $6.2M | New |
| PYPL PayPal Holdings Inc. | 1.75% | 87,898 | $5.9M | Add +219.9% |
| SPGI S&P Global Inc. | 1.43% | 9,893 | $4.8M | New |
| PINS Pinterest Inc. Class A | 1.40% | 146,597 | $4.7M | Reduce -47.9% |
| CUK Carnival PLC-ADR | 1.34% | 155,918 | $4.5M | New |
Portfolio Sells Q2 2025 → Q3 2025
| CORZ Core Scientific Inc. | Sold out | 0.00% | −6.90 |
| HUT Hut 8 Corp. | Sold out | 0.00% | −5.47 |
| PRIM Primoris Services Corp. | Sold out | 0.00% | −4.51 |
| STNE Stoneco Ltd. Class A | Sold out | 0.00% | −4.10 |
| MGM MGM Resorts International | Sold out | 0.00% | −4.10 |
| AMZN Amazon.com Inc. | Sold out | 0.00% | −3.68 |
| GOOGL Alphabet Inc. Class A | Sold out | 0.00% | −3.67 |
| PINS Pinterest Inc. Class A | Reduce -47.9% | 1.40% | −2.57 |
| MSGE Madison Square Garden Entert | Sold out | 0.00% | −2.48 |
| GVA Granite Construction Inc. | Reduce -14.5% | 3.32% | −1.07 |
| NWSA News Corp. Class A | Reduce -0.5% | 2.78% | −0.81 |
| ASML ASML Holding NV-NY Reg SHS | Sold out | 0.00% | −0.80 |
| JLL Jones Lang Lasalle Inc. | Reduce -3.4% | 3.50% | −0.62 |
| NCLH Norwegian Cruise Line Holdin | Reduce -0.2% | 4.62% | −0.43 |
Portfolio Buys Q2 2025 → Q3 2025
| EFOR Everforth Inc. | New | 4.62% | +4.62 |
| BRO Brown & Brown Inc. | New | 4.61% | +4.61 |
| MORN Morningstar Inc. | New | 4.61% | +4.61 |
| LULU Lululemon Athletica Inc. | New | 4.52% | +4.52 |
| ZD Ziff Davis Inc. | New | 4.20% | +4.20 |
| CPRT Copart Inc. | New | 3.88% | +3.88 |
| FLUT Flutter Entertainment PLC-Di | New | 3.51% | +3.51 |
| DBRG Digitalbridge Group Inc. | New | 3.47% | +3.47 |
| PLAY Dave & Buster's Entertainmen | Add +375.2% | 4.56% | +2.45 |
| VRT Vertiv Holdings Co. Class A | New | 1.83% | +1.83 |
| SPGI S&P Global Inc. | New | 1.43% | +1.43 |
| CUK Carnival PLC-ADR | New | 1.34% | +1.34 |
| PAGS Pagseguro Digital Ltd. Class A | Add +77.3% | 4.02% | +1.12 |
| PYPL PayPal Holdings Inc. | Add +219.9% | 1.75% | +0.94 |
| CART Maplebear Inc. | Add +81.1% | 4.61% | +0.46 |
| CPAY Corpay Inc. | Add +61.8% | 4.54% | +0.25 |
| TRU Transunion | Add +47.0% | 4.61% | +0.24 |
| APO Apollo Global Management Inc. | Add +44.9% | 4.49% | +0.12 |
| PPLI People Inc. | Add +32.4% | 4.57% | −0.45 |
| WEX Wex Inc. | Add +11.6% | 4.62% | −0.50 |
| FLR Fluor Corp. | Add +45.0% | 4.39% | −0.50 |
| MSGS Madison Square Garden Sports | Add +0.1% | 4.22% | −0.93 |
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 |