Incentive AS

Est. AUM

$71.29B

13F long equity, this entity only

Positions

Period

Dec 2025 (Q4)

SEC EDGAR

Dec 2025 (Q4)

#	Issuer	Class	Value	Shares	% Portfolio	Discretion
1	SMURFIT WESTROCK PLC	SHS	$71.29B	1843624	100.00%	SOLE

Values in USD (reported in $thousands on 13F). Source: SEC EDGAR.