Incision Capital Management LP Hedge Fund

CIK: 0002049997 · Show all filings

Period: Q4 2025

Filing Date: Feb 17, 2026

Total Value ($000): $110,238 (100.0% shares, 0.0% debt)

Holdings (6)

CROX CROCS INC 25.2%

Value ($000) $27,794 Shares 325,000 Est. Cost $83.64 Unrealized 0.0%

EQX EQUINOX GOLD CORP 21.0%

Value ($000) $23,166 Shares 1,650,000 Est. Cost $12.62 Unrealized 0.0%

TECK TECK RESOURCES LTD 20.6%

Value ($000) $22,748 Shares 475,000 Est. Cost $43.32 Unrealized 0.0%

CVE CENOVUS ENERGY INC 16.9%

Value ($000) $18,612 Shares 1,100,000 Est. Cost $17.37 Unrealized 0.0%

SE SEA LTD 16.2%

Value ($000) $17,860 Shares 140,000 Est. Cost $127.57 Unrealized —

GLD SPDR GOLD TRUST 0.1%

Value ($000) $58 Shares 200,000 Est. Cost — Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
CROX	CROCS INC	325,000	$27,794	25.2%	$83.64	0.0%	COM	227046109
EQX	EQUINOX GOLD CORP	1,650,000	$23,166	21.0%	$12.62	0.0%	COM	29446Y502
TECK	TECK RESOURCES LTD	475,000	$22,748	20.6%	$43.32	0.0%	CL B	878742204
CVE	CENOVUS ENERGY INC	1,100,000	$18,612	16.9%	$17.37	0.0%	COM	15135U109
SE	SEA LTD	140,000	$17,860	16.2%	$127.57	—	ADR	81141R100
GLD	SPDR GOLD TRUST	200,000	$58	0.1%	—	—	Put	78463V107