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Key Fund Facts:    
  Ticker Inception Date
Intrepid Income Fund – Inst. (ICMUX) 8/16/2010

Portfolio Management:
Jason Lazarus, CFA
Vice President
Lead Portfolio Manager

Clay Kirkland, CFA
Research Analyst

Intrepid Income Fund

Investment Objective: The primary investment objective of the Intrepid Income Fund is high current income and capital appreciation.

Investment Philosophy >>

Investment Strategy >>

Portfolio Construction >>

Risk Control >>


Mutual fund investing involves risk. Principal loss is possible.

The Funds' investment objectives, risks, charges and expenses must be considered carefully before investing. The prospectus contains this and other important information about the investment company. Please read it carefully before investing. A hard copy of the prospectus can be requested by calling 866-996-FUND (3863).

Intrepid Capital Management Funds are distributed by Quasar Distributors, LLC.

Investments in debt securities typically decrease in value when interest rates rise. The risk is generally greater for longer term debt securities. Investments by the Fund in lower-rated and non-rated securities presents a greater risk of loss to principal and interest than higher rated securities. The Fund may invest in foreign securities which involve greater volatility and political, economic and currency risks and differences in accounting methods.

Diversification does not guarantee a profit or protect from loss in a declining market.

Free Cash Flow measures the cash generating capability of a company by subtracting capital expenditures from cash flow from operations.