Incision Capital Management LP
CIK
2049997
Location
SAN FRANCISCO, CA
Portfolio Value
Micro
$16,467,000
Diversification
Highly concentrated
Filing Date
Global Rank
#5,545
/ 8,232
▼ 1332
Top Industry
Footwear & Accessories
32.1%
3Y Alpha vs SPY
-2.6%
Period ended 2 months ago
Filed May 15, 2026 · 29d
2 quarters · since Dec 2025
Clone Performance
Feb 2026–Jun 2026 · vs SPYHypothetical growth of cloning every reported 13F position and rebalancing on each filing, indexed to the same start.
Cloned portfolio
+8.7%
SPY
+9.1%
Annualised alpha
-1.4%
Max drawdown
−20.4%
Estimate. 13F holdings are quarter-lagged and long-only, so the clone rebalances about 45 days after each period end — when the filing becomes public — and excludes options and short positions. Past performance does not predict future results.
Portfolio Concentration
4 positions · as of Mar 31, 2026 · Δ vs Dec 31, 2025Top Position
32.1%
−9.8 pts
Top 5
100.0%
+9.4 pts
Top 10
100.0%
0.0 pts
HHI
2,621
Highly concentrated+176
Portfolio Trend
2 quarters · across all stocks
Sector Breakdown
As of Mar 31, 2026| Sector | % Portfolio | Value |
|---|---|---|
| Consumer Cyclical | 60.4% | $54,728,100 |
| Basic Materials | 21.4% | $19,406,250 |
| Energy | 18.2% | $16,467,000 |
Last Quarter's Activity
Export CSVTrimmed
Positions the filer reduced
1 positions
| Ticker | Company | Δ Shares | Shares | Value | Open |
|---|---|---|---|---|---|
| TECK | Teck Resources Ltd | −100,000 | 375,000 | $19,406,250 | |
| No positions match the current search. | |||||
New Positions
Positions the filer opened this quarter
1 positions
| Ticker | Company | Shares | Value | Open |
|---|---|---|---|---|
| EXE | EXPAND ENERGY Corp | 150,000 | $16,467,000 | |
| No positions match the current search. | ||||
1 positions ·
$16,467,000 total
· Energy only
· as of Mar 31, 2026
| Ticker | Company | Type | Shares | Value (USD) | % of Portfolio | History |
|---|---|---|---|---|---|---|
| EXE |
EXPAND ENERGY Corp
Energy
|
NEW | 150,000 | $16,467,000 | 100.00% |