IA
Incentive AS 13F Holdings (Q4 2025) — Stock Portfolio & Buys
Incentive ASCIK: 0001665221
Concentrated strategyLong-term holder
Total reported value
$71.3M
Reporting period: 2025-12-31 · Number of holdings: 1
Incentive AS disclosed 1 holdings in its latest 13F filing for the period ending 2025-12-31, with total reported value of $71.3M and a quarterly turnover rate of 18.8%.
Browse other institutions with under $100M AUMBrowse other institutions starting with "I"
Personality snowflake
- Concentration
- 100
- Portfolio Stability
- 18.81
- Momentum
- 50
- Sector conviction
- 0
- Diversification
- 2
- Sizing Uniformity
- —
Source and citation information
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Recent moves
View source Form 13F filing on SEC.govUnchanged SW
-8.8% -$14.8M
Holdings Map
New buyAddUnchangedTrim
Top 10 holdings by weight
Full holdings list this quarter
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | SW | Smurfit Westrock Plc | Stock-Consumer Disc | 100.00% | — | -8.85% |
Portfolio Performance
Performance for Q3 2026
+18.4%
Performance Last 4 Quarters
+5%
- Stdev
- +32.1%
- Beta
- +0.86
- Alpha
- -21.7%
- Max Drawdown
- -53.3%
- Annualized Perf
- -10.3%
- Batting Avg vs S&P
- +33.3%
- Sortino
- -0.24
- Stutzer
- -0.05
- Treynor
- -0.07
- Sterling
- -0.29
- Calmar
- -0.19
- Information Ratio
- -0.8
- Tracking Error
- +30.4%
- Stdev Down
- +23.8%
- Winning Months %
- +50%
- Losing Months %
- +50%
- Best 12 Months
- +9.6%
- Worst 12 Months
- -45.2%
- Efficiency Ratio
- +0.1
- Sharpe
- -0.18
- Stdev Sectors
- 0%
- Skewness
- -0.12
- Kurtosis
- -0.86
- Upside Potential
- +1.84
Reported value over time
Sector allocation
Sector allocation over time
Quarterly history
Holding changes this quarter
Incentive AS's most significant position changes for 2025-12-31: Trim: Smurfit Westrock Plc (SW) — shares -8.85%.
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | SW | Smurfit Westrock Plc | — | -8.85% | Trim |
💡
Data Source Notice: AlphaSMO is the web's most authoritative 13F / Inside Trader database. Institutional holdings and insider trades presented here are precisely computed to deliver accurate portfolio reporting.
Filing History
FAQ
What is Incentive AS and what type of investor is it?
Incentive AS is an investment manager that files SEC Form 13F quarterly, disclosing its U.S. public equity holdings to regulators. As of the most recent reporting period (2025-12-31), the firm manages a tracked equity portfolio valued at approximately $71.3M, spread across 1 disclosed positions.
What are Incentive AS's largest equity positions?
Based on the latest 13F filing, Incentive AS's top holdings by market value are:
1. Smurfit Westrock Plc (SW) — $71.3M (100.0%)
What changes did Incentive AS make in its most recent portfolio filing?
In the latest quarter, Incentive AS took a more defensive posture — trimming 1 positions and completely exiting 0 holdings. The largest of these moves: Trim: Smurfit Westrock Plc (SW) — shares -8.85%
What sectors does Incentive AS focus on?
Incentive AS is concentrated in the following sectors based on its current disclosed equity portfolio:
• Consumer Discretionary: 100.0%
Investment Profile
Incentive AS returned an annualized -10.3% over the trailing 30 months — underperforming the S&P 500 by 21.7 points — based on a reconstructed track record of its disclosed 13F positions, with a beta of 0.86 (less volatile than the market) and a 33% quarterly batting average against the index.
Its portfolio is concentrated and long-term-holding, with 100.0% of the portfolio concentrated in Consumer Discretionary.
Its turnover score has risen from 0 to 19 over the past 4 quarters — a shift toward more active trading.
It has trimmed its SW position for two straight quarters, cutting it by $28.9M while still holding $71.3M.
Peer Institutions
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Developer Access
Access Incentive AS's institutional profile programmatically:
REST API
curl https://alphasmo.com/api/v1/institutions/incentive-asCLI
npx alphasmo institutions get incentive-as