INTREPID CAPITAL MANAGEMENT INC

CIK 0001092838 · Q1 2026

13F Equity AUM

$260.5M

+0.8% QoQ

Positions

106

-1 QoQ

AUM Rank

#6,388

Top 51%

Skill Alpha (FF)

+2.2%/yr^ns

No Clear Edge

Rank #1,092 · Top 13%

vs S&P -3.8%/yr (unadj.)

Quarters Tracked

~13 years

Portfolio Concentration

Top 5: 25.7%Top 10: 40.9%Top 20: 57.0%

DUHP6.7%

GRPN 4.875 06/30/30 6.0%

CRNC 1.5 07/01/285.1%

GOOGL4.1%

BAND 0.5 04/01/283.8%

CEF/U3.7%

PMT 8.5 06/01/293.6%

LIEN2.7%

IAU*2.6%

BRK/B2.5%

Others (96)59.1%

HHI (Herfindahl-Hirschman Index) measures portfolio concentration. Low (<1500) = diversified, Moderate (1500-2500), High (>2500) = concentrated bets.

Position Sizing

Positions: 106Median: 0.61%Avg: 0.94%

0–0.5%

47(8.5%)

0.5–1%

28(21.5%)

1–3%

24(37.0%)

3–5%

4(15.3%)

5%+

3(17.8%)

Count of positions per weight bucket — (%) = combined portfolio weight

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Portfolio Overlap

Shared: 102Unique: 4vs 20 funds

1.4%Low

106

Fund positions

7,299

Consensus CUSIPs

Jaccard similarity of this fund’s portfolio vs the consensus of top 20 funds by AUM. Low (<15%) = contrarian, Moderate (15-40%), High (>40%) = follows the crowd.

Most Similar Funds

Top 9 benchmark funds with highest portfolio overlap (Jaccard similarity)

MORGAN STANLEY

1.9%

JPMORGAN CHASE & CO

BANK OF AMERICA CORP /DE/

BlackRock, Inc.

2.4%

STATE STREET CORP

2.6%

FMR LLC

VANGUARD CAPITAL MANAGEMENT LLC

2.5%

VANGUARD PORTFOLIO MANAGEMENT LLC

2.9%

GEODE CAPITAL MANAGEMENT, LLC

2.4%

Jaccard similarity per fund: shared CUSIPs / (fund A + fund B − shared). Higher values indicate more similar portfolios.

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Position Changes This Quarter

New4Increased62Decreased10Exited5

New Positions

SJM0.9%

+26K

IPAR0.9%

+27K

BRK/A0.6%

XOM0.1%

+1K

Increased

BAND 0.5 04/01/283.8%

+5.0M(+83%)

CRNC 1.5 07/01/285.1%

+1.5M(+11%)

DIHP1.6%

+11K(+9%)

DUHP6.7%

+9K(+2%)

FWONK1.3%

+8K(+26%)

FRPH1.5%

+4K(+2%)

LEVI0.7%

+4K(+4%)

VVV0.3%

+4K(+20%)

HHH1.1%

+4K(+9%)

MTCH1.0%

+3K(+4%)

Decreased

CEF/U3.7%

-16,120(-7%)

MSOS0.3%

-4,500(-2%)

PLTR0.2%

-3,177(-50%)

LIEN2.7%

-3,118(-0%)

NEE0.3%

-1,279(-13%)

IBM0.1%

-721(-45%)

KMI0.1%

-206(-2%)

0J7Q0.8%

-152(-0%)

DBX0.5%

-132(-0%)

GOOGL4.1%

-79(-0%)

Exited

-7,110,000

-39,218

-1,142

-3,294

-679

Quarter-over-quarter changes compared to prior 13F filing. New = first appearance; Exited = no longer held.

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Holdings

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