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Livermore
Livermore
ZHEN

Incline Global Management LLC

SEC CIK
0001567195
Latest filing
Aug 14, 2026

The latest 13F from Incline Global Management LLC covers Q2 2026 (filed Aug 14, 2026): 20 long positions worth $356.6M. The top 10 holdings make up 64.3% of the portfolio, and the largest is FTAI Aviation Ltd. (FTAI) at 7.7%. Livermore has 22 filings on Form 13F from this institution, going back to Q1 2021.

What changed in Q2 2026

Share counts compared with Q1 2026: how many positions were new, added to, reduced or sold out, and the biggest buys and sells. Dollar amounts are estimated at the quarter-end prices implied by the filing.

Full comparison
New
14
Est. +$228.3M
Added
6
Est. +$70.3M
Reduced
0
Sold out
18
Est. −$206.7M

Top 5 holdings

Share of this quarter's portfolio value

  1. FTAIFTAI Aviation Ltd.
    7.7%$27.4MHistory
  2. LITELumentum Holdings Inc.
    7.4%$26.5MHistory
  3. COHRCoherent Corp.
    7.1%$25.3MHistory
  4. WEXWEX Inc.
    6.9%$24.7MHistory
  5. AMZNAmazon Com Inc
    6.5%$23.2MHistory

Share of portfolio

Top 5 holdings and the other 15 positions, by share of portfolio value

  1. FTAI7.7%
  2. LITE7.4%
  3. COHR7.1%
  4. WEX6.9%
  5. AMZN6.5%
  6. Other 15 positions64.3%

Biggest buys

New and added positions, by estimated amount bought

  1. FTAIFTAI Aviation Ltd.
    +$27.4MNewHistory
  2. LITELumentum Holdings Inc.
    +$26.5MNewHistory
  3. WEXWEX Inc.
    +$22.5MAddedHistory
  4. FLEXFlex Ltd.
    +$20.8MNewHistory
  5. SKMSK Telecom Co Ltd
    +$20.4MNewHistory

Largest weight increases

New and added positions, by percentage points of the portfolio gained

  1. FTAIFTAI Aviation Ltd.
    +7.69 pp0.0% → 7.7%History
  2. LITELumentum Holdings Inc.
    +7.44 pp0.0% → 7.4%History
  3. WEXWEX Inc.
    +5.98 pp0.9% → 6.9%History
  4. FLEXFlex Ltd.
    +5.83 pp0.0% → 5.8%History
  5. SKMSK Telecom Co Ltd
    +5.73 pp0.0% → 5.7%History

Biggest sells

Reduced and sold-out positions, by estimated amount sold

  1. EFOREverforth Inc
    −$17.0MSold outHistory
  2. Carnival Corp Ltd.14365C103
    −$16.6MSold out
  3. TELTE Connectivity plc
    −$15.8MSold outHistory
  4. NCLHNorwegian Cruise Line Holdings Ltd.
    −$15.7MSold outHistory
  5. CBRECbre Group, Inc.
    −$15.7MSold outHistory

Largest weight decreases

Reduced and sold-out positions, by percentage points of the portfolio lost

  1. EFOREverforth Inc
    −6.68 pp6.7% → 0.0%History
  2. Carnival Corp Ltd.14365C103
    −6.53 pp6.5% → 0.0%
  3. TELTE Connectivity plc
    −6.22 pp6.2% → 0.0%History
  4. NCLHNorwegian Cruise Line Holdings Ltd.
    −6.16 pp6.2% → 0.0%History
  5. CBRECbre Group, Inc.
    −6.15 pp6.2% → 0.0%History

Metrics

13F metrics for Q2 2026, computed only from the numbers in the filings. Definitions below.

Portfolio value
$356.6M
+$101.9M (+40.0%) vs. prior quarter
Positions
20
−4 vs. prior quarter
Top 10 concentration
64.3%
Top 10 as share of value
Turnover
67.6%
Q2 2026, one quarter
Average holding period
3.6 quarters
Weighted by value

How these are calculated

  • Portfolio value: the market value of all long positions in the 13F, as reported at quarter end, excluding options.
  • Top 10 concentration: the combined value of the 10 largest positions as a share of portfolio value.
  • Turnover: the smaller of this quarter's estimated purchases and estimated sales, divided by the average of this and last quarter's portfolio value. Estimates multiply the change in shares by the quarter-end price implied by the filing (market value divided by shares); new positions use this quarter's value and sold-out positions last quarter's. Only positions reported in shares count, and it is not calculated when the previous quarter was not filed.
  • Average holding period: how many consecutive quarters each current position has been held (including this one; a quarter without the position or without a filing starts the count over), weighted by this quarter's value. Counting starts with the first 13F in Livermore (Q1 2021), so positions held before then are understated.

13F filings by quarter

22 quarters, going back to Q1 2021. Bars show each quarter's 13F portfolio value; quarters without a filing are left blank.

Peak $877.5M (Q2 2021)

Q1 2021: $494.6MQ2 2021: $877.5MQ3 2021: $694.4MQ4 2021: $474.3MQ1 2022: $520.2MQ2 2022: $350.1MQ3 2022: $358.4MQ4 2022: $270.9MQ1 2023: $347.9MQ2 2023: $357.6MQ3 2023: $310.6MQ4 2023: $317.2MQ1 2024: $315.0MQ2 2024: $242.6MQ3 2024: $225.1MQ4 2024: $131.9MQ1 2025: $162.2MQ2 2025: $254.3MQ3 2025: $337.3MQ4 2025: $292.7MQ1 2026: $254.6MQ2 2026: $356.6M
Q1 2021Q2 2026
13F filings of Incline Global Management LLC by quarter
QuarterFiledPositionsValueTop 3 holdingsChangesFiling
Q2 2026Aug 14, 202620$356.6MFTAILITECOHRvs. Q1 2026SEC
Q1 2026May 15, 202624$254.6MEFORCarnival Corp Ltd.TELvs. Q4 2025SEC
Q4 2025Feb 17, 202630$292.7MEFORVRTNCLHvs. Q3 2025SEC
Q3 2025Nov 14, 202527$337.3MWEXNCLHEFORvs. Q2 2025SEC
Q2 2025Aug 14, 202525$254.3MCORZHUTMSGSvs. Q1 2025SEC
Q1 2025May 15, 202526$162.2MPPLIWEXMSGSvs. Q4 2024SEC
Q4 2024Feb 14, 202524$131.9MMSGESTNEWEXvs. Q3 2024SEC
Q3 2024Nov 14, 202427$225.1MPINSMTCHSTNEvs. Q2 2024SEC
Q2 2024Aug 14, 202424$242.6MWEXPPLISTNEvs. Q1 2024SEC
Q1 2024May 15, 202422$315.0MWEXSBUXMTCHvs. Q4 2023SEC
Q4 2023Feb 14, 202422$317.2MSBUXMTCHWEXvs. Q3 2023SEC
Q3 2023Nov 14, 202322$310.6MPAGSEXPESTNEvs. Q2 2023SEC
Q2 2023Aug 14, 202323$357.6MEXPEWEXPAGSvs. Q1 2023SEC
Q1 2023May 15, 202323$347.9MAPPUBERMTCHvs. Q4 2022SEC
Q4 2022Feb 14, 202323$270.9MCPAYUBERWEXvs. Q3 2022SEC
Q3 2022Nov 14, 202222$358.4MCPAYPPLIPAGSvs. Q2 2022SEC
Q2 2022Aug 15, 202221$350.1MCPAYSSNCPPLIvs. Q1 2022SEC
Q1 2022May 16, 202221$520.2MAPOPPLIFISVvs. Q4 2021SEC
Q4 2021Feb 14, 202224$474.3MNWSAAPOFISVvs. Q3 2021SEC
Q3 2021Nov 15, 202121$694.4MAPOATVISSNCvs. Q2 2021SEC
Q2 2021Aug 16, 202124$877.5MPAGSATVIAPOvs. Q1 2021SEC
Q1 2021May 17, 202119$494.6MATVITRUSSNC–SEC