Disciplined Value Fund

Fund Profile

Investment Style

US mid-cap value

Firm Assets

$500 M

Fund Net Assets

$25.5 M

2-Star Overall Morningstar Rating (ICMCX) out of 363 Mid-Cap Value Funds as of 12/31/2018.

The Overall Morningstar Rating™ for a fund is derived from a weighted average of the fund’s three-, five-, and 10-year (if applicable) Morningstar Ratings metrics, which are based on risk-adjusted return performance.

Fund Statistics

Investor Class
Ticker ICMCX
Inception Date 10/31/2007
CUSIP 461195406
Investment Minimum $2,500

Related Documents

Portfolio Management

Clay Kirkland, CFA

Vice President, Portfolio Manager

Clay joined Intrepid Capital in 2012.  He is the lead portfolio manager of the Intrepid Disciplined Value Fund and the separately managed Intrepid Disciplined Value portfolio.  Clay is also a member of the investment team responsible for the Intrepid Capital Fund and the separately managed Intrepid Balanced portfolio.  Mr. Kirkland focuses primarily on research and valuation of small- and mid-cap equity securities.

A CFA Charterholder, Clay earned his MBA from Columbia Business School in 2011 and received his BS BA degree, cum laude, in Economics from Auburn University.

Disciplined Value Fund

Matt Parker, CFA, CPA

Vice President, Portfolio Manager

Matt joined Intrepid Capital in 2014.  He is a co-lead portfolio manager of the Intrepid Endurance Fund and the separately managed Intrepid Small Cap portfolio.  Mr. Parker is also a member of the investment team responsible for the Intrepid Capital Fund, the Intrepid Disciplined Value Fund, the Intrepid International Fund and the separately managed Intrepid Balanced, Intrepid Disciplined Value, and Intrepid International portfolios. Matt focuses primarily on research and valuation of small cap equity securities.

A CFA Charterholder, Mr. Parker received his Master of Accounting degree and a BS in Business Administration degree from the University of North Carolina at Chapel Hill.

Disciplined Value Fund

Joe Van Cavage, CFA

Vice President, Portfolio Manager

Joe joined Intrepid Capital in 2018.  He is a co-lead portfolio manager of the Intrepid Endurance Fund and the separately managed Intrepid Small Cap portfolio.  Mr. Van Cavage is also a member of the investment team responsible for the Intrepid Capital Fund, the Intrepid Disciplined Value Fund, and the separately managed Intrepid Balanced and Intrepid Disciplined Value portfolios.  Joe focuses primarily on research and valuation of small cap equity securities.

A CFA Charterholder, Mr. Van Cavage received his Master of Business Administration and BS in Civil Engineering degrees from the University of Florida.

Disciplined Value Fund
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The Morningstar Rating™ for funds, or "star rating", is calculated for managed products (including mutual funds, variable annuity and variable life subaccounts, exchange-traded funds, closed-end funds, and separate accounts) with at least a three-year history. Exchange-traded funds and open-ended mutual funds are considered a single population for comparative purposes. It is calculated based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a managed product's monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance. The top 10% of products in each product category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. The Overall Morningstar Rating™ for a managed product is derived from a weighted average of the performance figures associated with its three-, five-, and 10-year (if applicable) Morningstar Rating™ metrics. The weights are: 100% three-year rating for 36-59 months of total returns, 60% five-year rating/40% three-year rating for 60-119 months of total returns, and 50% 10-year rating/30% five-year rating/20% three-year rating for 120 or more months of total returns. While the 10-year overall star rating formula seems to give the most weight to the 10-year period, the most recent three-year period actually has the greatest impact because it is included in all three rating periods.
As of 12/31/18, the Intrepid Disciplined Value Fund was rated 1-Star, 2-Stars and 2-Stars against the following numbers of Mid-Cap Value funds over the following time periods: 363, 306 and 218 funds in the last three-, five- and ten-years, respectively.
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