AdvisorCensus / Financial advisors / California / San Francisco / Incision Capital Management LP
Incision Capital Management LP is an SEC-registered investment advisory firm in San Francisco, CA, registered since 2026, reporting $100 million to $500 million in regulatory assets under management in its Form ADV filing dated June 3, 2026.
Quick answers
From the filingHow is Incision Capital Management LP compensated?
On its Form ADV (Item 5.E, October 2026), Incision Capital Management LP reports these compensation arrangements: a percentage of assets under its management; performance-based fees.
Where is Incision Capital Management LP located?
Incision Capital Management LP's principal office is in San Francisco, CA, according to its Form ADV.
Is Incision Capital Management LP registered with the SEC or a state?
Incision Capital Management LP is an SEC-registered investment advisory firm, registered since 2026. Status as filed: Approved. CRD 325593.
How much does Incision Capital Management LP manage?
Incision Capital Management LP reports $220,288,168 in regulatory assets under management in its Form ADV filing dated June 3, 2026 (100% discretionary).
What types of clients does Incision Capital Management LP serve?
By number of clients on Form ADV Item 5.D: pooled investment vehicles (other than investment companies and business development companies) (2).
Does Incision Capital Management LP report any disciplinary disclosures?
Reports no disclosure items on Form ADV Item 11. The detail of any item is on the firm's SEC record: https://adviserinfo.sec.gov/firm/summary/325593
Does Incision Capital Management LP state an account minimum?
Its Form ADV Part 2A brochure dated June 1, 2026 says: "The minimum initial investment accepted from a new Investor in each Fund is $1,000,000, and the minimum additional investment accepted from an existing Investor in each Fund is $1,000,000." "The General Partner (in the case of the Master Fund) and the Board of Directors (in the case of the Offshore Fund) may, in their sole discretion, raise or lower these minimums or accept investments below the established minimums."
What changed in Incision Capital Management LP's recent Form ADV filings?
In the August 2026 filing data: Newly registered with the SEC.
From the Form ADV filing
Every figure below is as the firm filed it with regulators, as of October 2026.
How the firm is compensated
Item 5.E- A percentage of assets under your management
- Performance-based fees
Item 5.E lists how the firm is compensated for its advice; Items 5.B, 6.A, and 7.A show whether its people or related companies can also earn commissions. Percentage of assets, fixed, hourly, subscription, and performance-based fees come from clients (a performance-based fee depends on investment results); commissions come with a sale or a trade, often from the company behind the product. How fees, commissions, and other arrangements differ
Fees and minimums
Form ADV Part 2AAccount minimum: $1,000,000 (the brochure says it may be waived or negotiated)
The brochure's wording
The minimum initial investment accepted from a new Investor in each Fund is $1,000,000, and the minimum additional investment accepted from an existing Investor in each Fund is $1,000,000.
The General Partner (in the case of the Master Fund) and the Board of Directors (in the case of the Offshore Fund) may, in their sole discretion, raise or lower these minimums or accept investments below the established minimums.
As stated in the firm's Form ADV Part 2A brochure dated June 1, 2026. Fees can differ by service and may be negotiable; the brochure is the complete statement. Read the brochure on the SEC's IAPD site
Regulatory assets under management
Item 5.F$220,288,168 as of October 2026, filing dated June 3, 2026.
A measure of scale, not skill or returns. Discretionary means the firm decides trades; non-discretionary means clients approve each one. What assets under management means
Who the firm serves
Item 5.DA firm with no individual clients is an institutional manager even if it manages billions; the mix tells you whom the practice is built around.
Advisory services
Item 5.G- Portfolio management for pooled investment vehicles (other than investment companies)
Registration and firm details
Items 1, 2, 5- Registration
- SEC-registered investment adviser. Status as filed: Approved.
- Registered since
- 2026 (0 years)
- Employees
- Total: 2. Performing investment advisory functions: 2.
- Wrap fee program participation
- No.
- States registered or notice-filed
-
1 state or jurisdiction
SEC-registered investment advisers are examined by the SEC. SEC, state, and exempt registration
Disclosures
Item 11None Reports no disclosure items on Form ADV Item 11. View on IAPD.
Item 11 asks about criminal, regulatory, and civil events involving the firm and its advisory personnel. The detail of each yes answer is on the IAPD record. Reading a firm's disclosures
Changes in the filing
Last 12 months- August 2026
- Newly registered with the SEC.
Compared month to month from the SEC's monthly adviser data and the state compilation feed. Owners and control persons are summarized, never named.
Websites listed on Form ADV
Item 1.ISource: Form ADV, as of October 2026. Values appear as filed; a value the firm did not report is shown as "Not reported."
Cite this page
AdvisorCensus. Incision Capital Management LP (CRD 325593): Form ADV filing data as of October 2026. https://advisorcensus.com/firm/incision-capital-management-lp-san-francisco-ca-325593