Incline Global Management LLC Hedge Fund

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
PRIM	PRIMORIS SVCS CORP	117,162	$14,544	5.0%	$130.57	0.0%	COM	74164F103
NKE	NIKE INC	223,998	$14,271	4.9%	$64.91	0.0%	CL B	654106103
AMZN	AMAZON COM INC	57,811	$13,344	4.6%	$228.79	0.0%	COM	023135106
TEL	TE CONNECTIVITY PLC	57,993	$13,194	4.5%	$231.27	0.0%	ORD SHS	G87052109
COHR	COHERENT CORP	67,023	$12,370	4.2%	$149.58	0.0%	COM	19247G107
STNE	STONECO LTD	773,072	$11,434	3.9%	$14.79	—	COM CL A	G85158106
GEV	GE VERNOVA INC	16,582	$10,837	3.7%	$609.04	0.0%	COM	36828A101
J	JACOBS SOLUTIONS INC	80,466	$10,659	3.6%	$146.41	0.0%	COM	46982L108
CBRE	CBRE GROUP INC	59,608	$9,584	3.3%	$157.23	0.0%	CL A	12504L109
MSFT	MICROSOFT CORP	17,815	$8,616	2.9%	$500.58	0.0%	COM	594918104
V	VISA INC	22,851	$8,014	2.7%	$340.38	0.0%	COM CL A	92826C839
APH	AMPHENOL CORP NEW	47,445	$6,412	2.2%	$133.54	0.0%	CL A	032095101
META	META PLATFORMS INC	1,627	$1,074	0.4%	$667.32	0.0%	CL A	30303M102

Increased Positions (6)

VRT VERTIV HOLDINGS CO 5.3%

Value ($000) $15,553 (+152.2%) Shares 95,998 (+134.9%) Est. Cost $156.43 Unrealized +11.0%

SPGI S&P GLOBAL INC 4.8%

Value ($000) $13,977 (+190.3%) Shares 26,745 (+170.3%) Est. Cost $508.87 Unrealized -2.9%

CUK CARNIVAL PLC 4.3%

Value ($000) $12,633 (+180.3%) Shares 413,656 (+165.3%) Est. Cost $29.93 Unrealized —

GVA GRANITE CONSTR INC 5.1%

Value ($000) $14,923 (+33.5%) Shares 129,368 (+26.9%) Est. Cost $88.67 Unrealized +21.2%

NCLH NORWEGIAN CRUISE LINE HLDG L 5.2%

Value ($000) $15,154 (-2.8%) Shares 678,940 (+7.3%) Est. Cost $18.11 Unrealized +16.6%

ZD ZIFF DAVIS INC 4.8%

Value ($000) $14,128 (-0.2%) Shares 401,933 (+8.1%) Est. Cost $35.01 Unrealized -0.4%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
VRT	VERTIV HOLDINGS CO	95,998 (+134.9%)	$15,553 (+152.2%)	5.3%	$156.43	+11.0%	COM CL A	92537N108
SPGI	S&P GLOBAL INC	26,745 (+170.3%)	$13,977 (+190.3%)	4.8%	$508.87	-2.9%	COM	78409V104
CUK	CARNIVAL PLC	413,656 (+165.3%)	$12,633 (+180.3%)	4.3%	$29.93	—	ADS	14365C103
GVA	GRANITE CONSTR INC	129,368 (+26.9%)	$14,923 (+33.5%)	5.1%	$88.67	+21.2%	COM	387328107
NCLH	NORWEGIAN CRUISE LINE HLDG L	678,940 (+7.3%)	$15,154 (-2.8%)	5.2%	$18.11	+16.6%	SHS	G66721104
ZD	ZIFF DAVIS INC	401,933 (+8.1%)	$14,128 (-0.2%)	4.8%	$35.01	-0.4%	COM	48123V102

Exited Positions (10)

TRU TRANSUNION 5.3%

Value ($000) $15,541 Shares 185,494 Est. Cost $78.13 Unrealized +5.1%

CART MAPLEBEAR INC 5.3%

Value ($000) $15,534 Shares 422,576 Est. Cost $39.01 Unrealized +4.9%

IAC IAC INC 5.3%

Value ($000) $15,413 Shares 452,404 Est. Cost $36.81 Unrealized -4.9%

LULU LULULEMON ATHLETICA INC 5.2%

Value ($000) $15,233 Shares 85,611 Est. Cost $200.38 Unrealized -9.6%

APO APOLLO GLOBAL MGMT INC 5.2%

Value ($000) $15,157 Shares 113,728 Est. Cost $121.52 Unrealized +9.1%

MSGS MADISON SQUARE GRDN SPRT COR 4.9%

Value ($000) $14,225 Shares 62,665 Est. Cost $190.20 Unrealized +19.7%

DBRG DIGITALBRIDGE GROUP INC 4.0%

Value ($000) $11,712 Shares 1,001,058 Est. Cost $11.15 Unrealized +7.6%

NWSA NEWS CORP NEW 3.2%

Value ($000) $9,392 Shares 305,834 Est. Cost $22.43 Unrealized +17.0%

PYPL PAYPAL HLDGS INC 2.0%

Value ($000) $5,894 Shares 87,898 Est. Cost $70.29 Unrealized -7.8%

PINS PINTEREST INC 1.6%

Value ($000) $4,716 Shares 146,597 Est. Cost $33.37 Unrealized -13.7%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
TRU	TRANSUNION	185,494	$15,541	5.3%	$78.13	+5.1%	—	89400J107
CART	MAPLEBEAR INC	422,576	$15,534	5.3%	$39.01	+4.9%	—	565394103
IAC	IAC INC	452,404	$15,413	5.3%	$36.81	-4.9%	—	44891N208
LULU	LULULEMON ATHLETICA INC	85,611	$15,233	5.2%	$200.38	-9.6%	—	550021109
APO	APOLLO GLOBAL MGMT INC	113,728	$15,157	5.2%	$121.52	+9.1%	—	03769M106
MSGS	MADISON SQUARE GRDN SPRT COR	62,665	$14,225	4.9%	$190.20	+19.7%	—	55825T103
DBRG	DIGITALBRIDGE GROUP INC	1,001,058	$11,712	4.0%	$11.15	+7.6%	—	25401T603
NWSA	NEWS CORP NEW	305,834	$9,392	3.2%	$22.43	+17.0%	—	65249B109
PYPL	PAYPAL HLDGS INC	87,898	$5,894	2.0%	$70.29	-7.8%	—	70450Y103
PINS	PINTEREST INC	146,597	$4,716	1.6%	$33.37	-13.7%	—	72352L106

Decreased Positions (10)

BRO BROWN & BROWN INC 0.5%

Value ($000) $1,345 (-91.4%) Shares 16,872 (-89.8%) Est. Cost $97.18 Unrealized -14.2%

MORN MORNINGSTAR INC 0.5%

Value ($000) $1,364 (-91.2%) Shares 6,278 (-90.6%) Est. Cost $266.56 Unrealized -18.8%

PLAY DAVE & BUSTERS ENTMT INC 0.4%

Value ($000) $1,241 (-91.9%) Shares 76,548 (-91.0%) Est. Cost $25.83 Unrealized -35.2%

CPRT COPART INC 0.4%

Value ($000) $1,115 (-91.5%) Shares 28,488 (-90.2%) Est. Cost $47.13 Unrealized -12.0%

FLUT FLUTTER ENTMT PLC 0.3%

Value ($000) $825 (-93.0%) Shares 3,838 (-91.8%) Est. Cost $292.68 Unrealized -23.2%

CPAY CORPAY INC 2.8%

Value ($000) $8,079 (-47.2%) Shares 26,847 (-49.5%) Est. Cost $310.60 Unrealized -6.5%

JLL JONES LANG LASALLE INC 2.3%

Value ($000) $6,742 (-42.8%) Shares 20,037 (-49.3%) Est. Cost $229.21 Unrealized +36.7%

PAGS PAGSEGURO DIGITAL LTD 3.2%

Value ($000) $9,366 (-30.9%) Shares 971,597 (-28.3%) Est. Cost $9.10 Unrealized +5.4%

FLR FLUOR CORP NEW 4.3%

Value ($000) $12,577 (-15.1%) Shares 317,349 (-9.9%) Est. Cost $43.93 Unrealized +0.7%

WEX WEX INC 4.7%

Value ($000) $13,614 (-12.7%) Shares 91,384 (-7.7%) Est. Cost $157.91 Unrealized -4.6%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
BRO	BROWN & BROWN INC	16,872 (-89.8%)	$1,345 (-91.4%)	0.5%	$97.18	-14.2%	COM	115236101
MORN	MORNINGSTAR INC	6,278 (-90.6%)	$1,364 (-91.2%)	0.5%	$266.56	-18.8%	COM	617700109
PLAY	DAVE & BUSTERS ENTMT INC	76,548 (-91.0%)	$1,241 (-91.9%)	0.4%	$25.83	-35.2%	COM	238337109
CPRT	COPART INC	28,488 (-90.2%)	$1,115 (-91.5%)	0.4%	$47.13	-12.0%	COM	217204106
FLUT	FLUTTER ENTMT PLC	3,838 (-91.8%)	$825 (-93.0%)	0.3%	$292.68	-23.2%	SHS	G3643J108
CPAY	CORPAY INC	26,847 (-49.5%)	$8,079 (-47.2%)	2.8%	$310.60	-6.5%	COM SHS	219948106
JLL	JONES LANG LASALLE INC	20,037 (-49.3%)	$6,742 (-42.8%)	2.3%	$229.21	+36.7%	COM	48020Q107
PAGS	PAGSEGURO DIGITAL LTD	971,597 (-28.3%)	$9,366 (-30.9%)	3.2%	$9.10	+5.4%	COM CL A	G68707101
FLR	FLUOR CORP NEW	317,349 (-9.9%)	$12,577 (-15.1%)	4.3%	$43.93	+0.7%	COM	343412102
WEX	WEX INC	91,384 (-7.7%)	$13,614 (-12.7%)	4.7%	$157.91	-4.6%	COM	96208T104

Unchanged Positions (1)

ASGN ASGN INC 5.4%

Value ($000) $15,690 Shares 325,722 Est. Cost $51.02 Unrealized -9.6%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
ASGN	ASGN INC	325,722	$15,690	5.4%	$51.02	-9.6%	COM	00191U102