Incline Global Management LLC

The portfolio is currently highly concentrated, consisting of only 18 holdings. The positioning is remarkably uniform, with the top 11 positions all falling within a narrow valuation band of approximately $11.8 million to $15.6 million. This suggests a "barbell" or equal-weight strategy where capital is deployed evenly across high-conviction ideas rather than concentrating capital heavily in a few mega-cap names. The turnover indicates a shift away from previous high-beta or thematic plays toward a more diversified mix of technology, financial services, and consumer cyclicals.

2. Key Holdings

The most striking feature of the current portfolio is the lack of a dominant single position; instead, the fund utilizes a "top-heavy" cluster of positions ranging between 7.3% and 7.6% portfolio weight.