Intrepid Capital

Capital Fund

Quarterly Performance as of 03/31/26 (%)

  Total Return Average Annualized Total Return
Qtr. YTD 1 Year 3 Year 5 Year 10 Year 15 Year Since Inception
Capital Fund - Inv. -0.93 -0.93 13.22 12.56 6.80 5.98 5.58 6.10
Capital Fund - Inst. -0.93 -0.93 13.45 12.79 7.03 6.23 5.83 6.10
BBC Combined 1-5Yr -2.54 -2.54 12.28 12.70 8.06 9.43 8.88 7.51*
S&P 500 -4.33 -4.33 17.80 18.32 12.06 14.16 13.28 10.39*
*
Since Inception returns are as of the fund's Investor Class inception date, 1/3/2005. Since the inception date of the Institutional Class, 4/30/2010, the annualized return of the 60% S&P 500/40% Bloomberg Barclays U.S. Gov./Credit 1-5 Yr Index is 9.10% and the annualized return of the S&P 500 Index is 13.66%

Annual Performance

  Investor Institutional BBC Combined 1-5Yr S&P 500
2025 13.44% 13.75% 13.20% 17.88%
2024 15.4% 15.65% 3.76% 1.18%
2023 14.16% 14.32% 17.49% 26.29%
2022 -12.43% -12.22% -12.83% -18.11%
2021 6.05% 5.93% 7.45% 9.43%
2020 9.18% 9.50% 13.58% 18.40%
2019 6.44% 6.55% 20.47% 31.49%
2018 -13.38% -13.11% -1.83% -4.38%
2017 8.09% 8.30% 13.21% 21.83%
2016 14.88% 15.27% 7.83% 11.96%
2015 -6.58% -6.33% 1.44% 1.38%
2014 5.23% 5.50% 8.70% 13.69%
2013 14.63% 14.84% 18.64% 32.39%
2012 10.95% 11.20% 10.44% 16.00%
2011 2.22% 2.52% 2.79% 2.11%
2010 15.86% 5.87%* 11.03% 15.06%
2009 31.28% 17.86% 26.46%
2008 -16.70% -22.03% -37.00%
2007 4.88% 6.34% 5.49%
2006 15.32% 11.06% 15.79%
2005 -1.76%* 4.10%* 5.77%*

Growth of $10K - Investor Class as of 12/31/25

The charts illustrate the performance of a hypothetical $10,000 investment made in the Fund’s share class since inception. Assumes reinvestment of dividends and capital gains but does not reflect the redemption fees.

Growth of $10K - Institutional Class as of 12/31/25

The charts illustrate the performance of a hypothetical $10,000 investment made in the Fund’s share class since inception. Assumes reinvestment of dividends and capital gains but does not reflect the redemption fees.

Risk & Return Since Inception as of 03/31/26

  • ICMBX
  • BBC Combined 1-5Yr

Risk is the annualized monthly standard deviation.

Previous Fund Facts
Performance
Next Portfolio
Per the Prospectus dated January 31, 2025, the annual operating expense (gross) for the Intrepid Capital Fund-Investor Share Class is 1.41% and for the Intrepid Capital Fund-Institutional Share Class is 1.16%. The Fund’s Advisor has contractually agreed to waive a portion of its fees and/or reimburse expenses until January 31, 2026 such that the total operating expense for the Capital Fund-Investor Share Class is 1.41% and for the Capital Fund-Institutional Share Class is 1.16%. The Capital Fund-Investor Share Class may have Net Expense higher than these expense caps as a result of any sales, distribution and other fees incurred under a plan adopted pursuant to Rule 12b-1 under the Investment Company Act of 1940, as amended (the “Investment Company Act”), acquired fund fees and expenses or other expenses (such as taxes, interest, brokerage commissions and extraordinary items) that are excluded from the calculation. As a result of the calculations, the Net Expense for the Capital Fund-Investor Share Class is 1.41%. The Net Expense for the Capital Fund-Institutional Share Class is 1.16%.  The Net Expense Ratio represents the percentage paid by investors. Otherwise, performance shown would have been lower.
The Fund invests in smaller companies, which involve additional risks such as limited liquidity and greater volatility. The Fund invests in debt securities, which typically decrease in value when interest rates rise. This risk is usually greater for longer term debt securities. Investment 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. The risks of owning ETFs generally reflect the risks of owning the underlying securities they are designed to track, although lack of liquidity in an ETF could result in it being more volatile than the underlying portfolio of securities. ETFs also have management fees that increase their costs versus the costs of owning the underlying securities directly. ADRs may be subject to some of the same risks as direct investment in foreign companies, which includes international trade, currency, political, regulatory and diplomatic risks.
Diversification does not guarantee a profit or protect from loss in a declining market.
Investment performance reflects fee waivers. In the absence of waivers, total return would be reduced.
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