Incline Global Management LLC
In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 17, 2026), Incline Global Management LLC reported 30 stock positions worth $292.7 million. Its top holding was Everforth (EFOR) at 5.4% of the portfolio, followed by Vertiv Class A (VRT, 5.3%) and Norwegian Cruise Line Holdin (NCLH, 5.2%). Compared with Q3 2025, it opened 13 new positions, sold out of 10, added to 6 and reduced 11. The biggest buy was a new position in Primoris Services (PRIM) and the biggest sale an exit from Transunion (TRU).
- Most Recent 13F
- Q2 2026
- Location
- New York, NY
- CIK
- 0001567195
- Portfolio Value
- $292.7M (Q4 2025)
- SEC Filing
- 0001172661-26-001040 ↗ filed Feb 17, 2026
Holdings Value
Holdings 30 stocks · $292.7M
| EFOR Everforth Inc. filed as ASGN INC | 5.36% | 325,722 | $15.7M | Reduce -0.9% |
| VRT Vertiv Holdings Co. Class A | 5.31% | 95,998 | $15.6M | Add +134.9% |
| NCLH Norwegian Cruise Line Holdin | 5.18% | 678,940 | $15.2M | Add +7.3% |
| GVA Granite Construction Inc. | 5.10% | 129,368 | $14.9M | Add +26.9% |
| PRIM Primoris Services Corp. | 4.97% | 117,162 | $14.5M | New |
| NKE Nike Inc. Class B | 4.88% | 223,998 | $14.3M | New |
| ZD Ziff Davis Inc. | 4.83% | 401,933 | $14.1M | Add +8.1% |
| SPGI S&P Global Inc. | 4.78% | 26,745 | $14.0M | Add +170.3% |
| WEX Wex Inc. | 4.65% | 91,384 | $13.6M | Reduce -7.7% |
| AMZN Amazon.com Inc. | 4.56% | 57,811 | $13.3M | New |
| TEL Te Connectivity PLC | 4.51% | 57,993 | $13.2M | New |
| CUK Carnival PLC-ADR | 4.32% | 413,656 | $12.6M | Add +165.3% |
| FLR Fluor Corp. | 4.30% | 317,349 | $12.6M | Reduce -9.9% |
| COHR Coherent Corp. | 4.23% | 67,023 | $12.4M | New |
| STNE Stoneco Ltd. Class A | 3.91% | 773,072 | $11.4M | New |
| GEV GE Vernova Inc. | 3.70% | 16,582 | $10.8M | New |
| J Jacobs Solutions Inc. | 3.64% | 80,466 | $10.7M | New |
| CBRE CBRE Group Inc. Class A | 3.27% | 59,608 | $9.6M | New |
| PAGS Pagseguro Digital Ltd. Class A | 3.20% | 971,597 | $9.4M | Reduce -28.3% |
| MSFT Microsoft Corp. | 2.94% | 17,815 | $8.6M | New |
| CPAY Corpay Inc. | 2.76% | 26,847 | $8.1M | Reduce -49.5% |
| V Visa Inc. Class A | 2.74% | 22,851 | $8.0M | New |
| JLL Jones Lang Lasalle Inc. | 2.30% | 20,037 | $6.7M | Reduce -49.3% |
| APH Amphenol Corp. Class A | 2.19% | 47,445 | $6.4M | New |
| MORN Morningstar Inc. | 0.47% | 6,278 | $1.4M | Reduce -90.6% |
| BRO Brown & Brown Inc. | 0.46% | 16,872 | $1.3M | Reduce -89.8% |
| PLAY Dave & Buster's Entertainmen | 0.42% | 76,548 | $1.2M | Reduce -91.0% |
| CPRT Copart Inc. | 0.38% | 28,488 | $1.1M | Reduce -90.2% |
| META Meta Platforms Inc. Class A | 0.37% | 1,627 | $1.1M | New |
| FLUT Flutter Entertainment PLC-Di | 0.28% | 3,838 | $825K | Reduce -91.8% |
Portfolio Sells Q3 2025 → Q4 2025
| TRU Transunion | Sold out | 0.00% | −4.61 |
| CART Maplebear Inc. | Sold out | 0.00% | −4.61 |
| PPLI People Inc. | Sold out | 0.00% | −4.57 |
| LULU Lululemon Athletica Inc. | Sold out | 0.00% | −4.52 |
| APO Apollo Global Management Inc. | Sold out | 0.00% | −4.49 |
| MSGS Madison Square Garden Sports | Sold out | 0.00% | −4.22 |
| BRO Brown & Brown Inc. | Reduce -89.8% | 0.46% | −4.15 |
| MORN Morningstar Inc. | Reduce -90.6% | 0.47% | −4.14 |
| PLAY Dave & Buster's Entertainmen | Reduce -91.0% | 0.42% | −4.13 |
| CPRT Copart Inc. | Reduce -90.2% | 0.38% | −3.50 |
| DBRG Digitalbridge Group Inc. | Sold out | 0.00% | −3.47 |
| FLUT Flutter Entertainment PLC-Di | Reduce -91.8% | 0.28% | −3.22 |
| NWSA News Corp. Class A | Sold out | 0.00% | −2.78 |
| CPAY Corpay Inc. | Reduce -49.5% | 2.76% | −1.78 |
| PYPL PayPal Holdings Inc. | Sold out | 0.00% | −1.75 |
| PINS Pinterest Inc. Class A | Sold out | 0.00% | −1.40 |
| JLL Jones Lang Lasalle Inc. | Reduce -49.3% | 2.30% | −1.19 |
| PAGS Pagseguro Digital Ltd. Class A | Reduce -28.3% | 3.20% | −0.82 |
| FLR Fluor Corp. | Reduce -9.9% | 4.30% | −0.10 |
| WEX Wex Inc. | Reduce -7.7% | 4.65% | +0.03 |
| EFOR Everforth Inc. | Reduce -0.9% | 5.36% | +0.74 |
Portfolio Buys Q3 2025 → Q4 2025
| PRIM Primoris Services Corp. | New | 4.97% | +4.97 |
| NKE Nike Inc. Class B | New | 4.88% | +4.88 |
| AMZN Amazon.com Inc. | New | 4.56% | +4.56 |
| TEL Te Connectivity PLC | New | 4.51% | +4.51 |
| COHR Coherent Corp. | New | 4.23% | +4.23 |
| STNE Stoneco Ltd. Class A | New | 3.91% | +3.91 |
| GEV GE Vernova Inc. | New | 3.70% | +3.70 |
| J Jacobs Solutions Inc. | New | 3.64% | +3.64 |
| VRT Vertiv Holdings Co. Class A | Add +134.9% | 5.31% | +3.49 |
| SPGI S&P Global Inc. | Add +170.3% | 4.78% | +3.35 |
| CBRE CBRE Group Inc. Class A | New | 3.27% | +3.27 |
| CUK Carnival PLC-ADR | Add +165.3% | 4.32% | +2.98 |
| MSFT Microsoft Corp. | New | 2.94% | +2.94 |
| V Visa Inc. Class A | New | 2.74% | +2.74 |
| APH Amphenol Corp. Class A | New | 2.19% | +2.19 |
| GVA Granite Construction Inc. | Add +26.9% | 5.10% | +1.78 |
| ZD Ziff Davis Inc. | Add +8.1% | 4.83% | +0.63 |
| NCLH Norwegian Cruise Line Holdin | Add +7.3% | 5.18% | +0.56 |
| META Meta Platforms Inc. Class A | New | 0.37% | +0.37 |
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 |