Stocks/Funds/CIK 2049997

Incision Capital Management LP

microcap filerconcentrated
Quarterly 13F filings · Latest period 2026-03-31 · CIK 2049997
Assets
$91M
Holdings
4
Lifetime alpha vs market
+21.58% annual
Average hold time
0.4 yr
median 0.5 yr

Quarterly history

Cum return +0% vs S&P -4% · α +5% lifetimeAUM $91M · peak $110MFlow $-20M (-18%)2025-122026-03
AUM ($B)fundS&P 500(gap = α)/ Flow in/out

Behavior signals (lifetime)

Dip response
+54.84%
adds when stocks drop
when a holding falls −10%+
Middle response
-5.54%
baseline attrition
Rally response
—
—
when a holding rises +10%+

Top positions · 4

Ticker$ value% portYoYHold time
CROXCrocs, Inc.$29M32.1%—0.5 yr
SESea Limited$26M28.3%—0.5 yr
TECKTeck Resources Limited$19M21.4%—0.5 yr
EXEExpand Energy Corporatio$16M18.2%—0.3 yr

Portfolio composition (YoY)

Industry mix
Apparel - Footwear & Accessories32.1%$29M
Specialty Retail28.3%$26M
Industrial Materials21.4%$19M
Oil & Gas Exploration & Production18.2%$16M
Country
US50.2%
SG28.3%
CA21.4%
Top 5: 100.0% · Top 10: 100.0% · Top 25: 100.0%

Winners

TickerPrev $PnLYoY %

Losers

TickerPrev $PnLYoY %

Top buys this quarter · 3

EXE Expand Energy Corporationnew+$16M
SE Sea Limited+$14M
CROX Crocs, Inc.+$2M

Top sells this quarter · 3

CVE Cenovus Energy Inc.exit−$29M
EQX Equinox Gold Corp.exit−$24M
TECK Teck Resources Limited−$5M

Quarterly history (TTM returns)

PeriodAUM# PosReturn (1yr)SPY (1yr)Alpha (1yr)Flow
2026-03-31$91M4+0.42%-4.37%+4.79%-0.02B
2025-12-31$110M5————