Intrepid Capital Management Inc.

In its 13F for Q4 2024 (holdings as of December 31, 2024, filed February 12, 2025), Intrepid Capital Management Inc. reported 102 stock positions worth $158.8 million. Its top holding was Dimensional US High Profi Et (DUHP) at 8.2% of the portfolio, followed by Chicago Atlantic Real Estate (REFI, 6.9%) and Chicago Atlantic BDC (LIEN, 5.8%). Compared with Q3 2024, it opened 11 new positions, sold out of 8, added to 37 and reduced 26. The biggest buy was Chicago Atlantic Real Estate (REFI, shares +503%) and the biggest sale an exit from Groupon Inc. (grpn 1.125 03/15/26).

Most Recent 13F
Q2 2026
Location
JACKSONVILLE BEACH, FL
CIK
0001092838
Portfolio Value
$158.8M (Q4 2024)
SEC Filing
0001092838-25-000001 ↗ filed Feb 12, 2025

Holdings Value

0$50.0M$100.0M$150.0M$200.0M$250.0M Q1 2024: $154.3M Q1 2024 Q2 2024: $157.1M Q2 2024 Q3 2024: $180.3M Q3 2024 Q4 2024: $158.8M $158.8M Q4 2024 Q1 2025: $165.3M Q1 2025 Q2 2025: $190.0M Q2 2025 Q3 2025: $204.4M Q3 2025 Q4 2025: $207.4M Q4 2025 Q1 2026: $212.3M Q1 2026 Q2 2026: $237.8M Q2 2026

Holdings 102 stocks · $158.8M
DUHP Dimensional US High Profi Et 8.17% 384,237 $13.0M Add +17.7%
REFI Chicago Atlantic Real Estate 6.90% 711,127 $11.0M Add +503.1%
LIEN Chicago Atlantic BDC Inc. 5.80% 756,185 $9.2M Add +4376.6%
JUCY Aptus Enhanced Yield ETF 4.05% 282,381 $6.4M Reduce -8.9%
GOOGL Alphabet Inc. Class A 4.04% 33,859 $6.4M Add +35.3%
FRPH FRP Holdings Inc. filed as FRP HLDGS INC 3.77% 195,402 $6.0M Reduce -0.7%
BRK.B Berkshire Hathaway Inc. Class B 3.57% 12,499 $5.7M Add +4.4%
CEF Sprott Physical Gold and Sil 3.48% 232,719 $5.5M Add +0.5%
SKX Skechers USA Inc. Class A 2.37% 56,046 $3.8M No change
JEF Jefferies Financial Group Inc. 2.12% 42,885 $3.4M Reduce -47.4%
IAU iShares Gold Trust 2.11% 67,598 $3.3M Add +43.9%
LLYVA Liberty Media Corp.-Liberty-A 2.05% 48,906 $3.3M Reduce -16.9%
WRB WR Berkley Corp. filed as BERKLEY W R CORP 1.89% 51,412 $3.0M Add +34.9%
TJX TJX Companies Inc. filed as TJX COS INC NEW 1.89% 24,868 $3.0M Add +7.2%
CPRT Copart Inc. 1.88% 51,911 $3.0M Reduce -11.0%
GRMN Garmin Ltd. 1.63% 12,580 $2.6M Reduce -25.8%
HHH Howard Hughes Holdings Inc. 1.63% 33,655 $2.6M Add +3.1%
VVV Valvoline Inc. 1.51% 66,224 $2.4M No change
GMED Globus Medical Inc. Class A 1.48% 28,509 $2.4M No change
FN Fabrinet 1.48% 10,715 $2.4M No change
MTCH Match Group Inc. 1.42% 68,862 $2.3M Add +17.2%
TTWO Take-Two Interactive Softwre 1.40% 12,070 $2.2M Reduce -0.6%
CTO REALTY GROWTH INC (CTO 3.875 04/15/25 *) filed as CTO RLTY GROWTH INC NEW 1.33% 1,547,000 $2.1M New
CIVI Civitas Resources Inc. 1.30% 44,982 $2.1M Reduce -19.6%
MKL Markel Group Inc. 1.28% 1,182 $2.0M Reduce -0.3%
DLTR Dollar Tree Inc. 1.28% 27,026 $2.0M Add +103.6%
AAPL Apple Inc. 1.26% 7,984 $2.0M Add +0.3%
BJ Bj's Wholesale Club Holdings filed as BJS WHSL CLUB HLDGS INC 1.24% 22,118 $2.0M Add +12.1%
AMZN Amazon.com Inc. 1.20% 8,669 $1.9M Add +1.0%
MSFT Microsoft Corp. 1.20% 4,506 $1.9M Add +6.8%
DBX Dropbox Inc. Class A 1.17% 61,891 $1.9M Reduce -49.0%
LEVI Levi Strauss & Co. Class A 1.08% 98,775 $1.7M Reduce -4.3%
SII Sprott Inc. 1.06% 39,830 $1.7M No change
PLTR Palantir Technologies Inc. Class A 0.98% 20,619 $1.6M Reduce -43.8%
QQQ Invesco QQQ Trust Series 1 0.96% 2,994 $1.5M Add +8.4%
DIHP Dimensional International Hi 0.95% 59,664 $1.5M Add +15.2%
SCHX Schwab US Large-Cap ETF 0.92% 63,318 $1.5M No change
FCX Freeport-McMoran Inc. 0.88% 36,659 $1.4M Reduce -10.4%
WMT Walmart Inc. 0.85% 14,903 $1.3M Add +4.7%
JNJ Johnson & Johnson 0.75% 8,198 $1.2M Add +15.2%
LMT Lockheed Martin Corp. 0.60% 1,957 $951K Add +4.5%
RITM Rithm Capital Corp. 0.57% 84,071 $910K No change
SMPL The Simply Good Foods Co. 0.55% 22,279 $868K No change
NVDA Nvidia Corp. 0.53% 6,326 $850K Add +0.1%
AMD Advanced Micro Devices 0.53% 6,914 $835K Add +29.1%
BNY Bank of New York Mellon Corp. filed as BANK NEW YORK MELLON CORP 0.52% 10,826 $832K No change
WNS WNS Holdings Ltd. filed as WNS HLDGS LTD 0.52% 17,286 $819K Reduce -66.1%
CG The Carlyle Group Inc. 0.50% 15,735 $794K Add +4.8%
ACN Accenture PLC Class A 0.49% 2,216 $780K Reduce -36.4%
REG Regency Centers Corp. 0.48% 10,290 $761K No change
CSX CSX Corp. 0.41% 20,228 $653K No change
TOST Toast Inc. Class A 0.40% 17,573 $641K No change
AMGN Amgen Inc. 0.36% 2,206 $575K Add +26.5%
BGC BGC Group Inc. Class A 0.33% 57,393 $520K No change
ASML ASML Holding NV-NY Reg SHS 0.33% 749 $519K Add +72.2%
NKE Nike Inc. Class B 0.32% 6,760 $512K Add +87.7%
CME Cme Group Inc. 0.32% 2,183 $507K No change
AYI Acuity Inc. 0.31% 1,668 $487K Reduce -83.5%
XLK SS Technology Select Sector 0.30% 2,021 $470K No change
DGRO iShares Core Dividend Growth 0.29% 7,479 $459K No change
ARCC Ares Capital Corp. 0.28% 20,209 $442K New
IWY iShares Russell Top 200 Grow 0.28% 1,870 $440K Reduce -1.1%
AFCG Advanced Flower Capital Inc. 0.26% 50,200 $418K New
TSLA Tesla Inc. 0.26% 1,025 $414K New
AVGO Broadcom Inc. 0.26% 1,782 $413K No change
T AT&T Inc. 0.26% 18,073 $412K Add +21.8%
META Meta Platforms Inc. Class A 0.25% 666 $390K Reduce -2.5%
NEE Nextera Energy Inc. 0.23% 5,135 $368K Add +15.9%
WSO Watsco Inc. 0.22% 736 $349K Reduce -82.9%
NMRK Newmark Group Inc. Class A 0.21% 26,625 $341K No change
XLV SS Health Care Select Sector 0.21% 2,425 $334K No change
LYB Lyondellbasell Indu Class A 0.21% 4,397 $327K Add +18.8%
JPM JPMorgan Chase & Co. 0.20% 1,328 $318K No change
IVV iShares Core S&P 500 ETF 0.19% 515 $303K Add +0.8%
ABBV Abbvie Inc. 0.18% 1,652 $294K Add +9.4%
MAIN Main Street Capital Corp. 0.18% 5,000 $293K New
UNH Unitedhealth Group Inc. 0.18% 572 $289K Add +8.3%
VZ Verizon Communications Inc. 0.18% 7,217 $289K Add +39.0%
CAT Caterpillar Inc. 0.17% 763 $277K No change
IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS 0.16% 1,142 $251K No change
PG The Procter & Gamble Co. 0.16% 1,481 $248K Add +13.7%
AWI Armstrong World Industries 0.15% 1,718 $243K Reduce -84.7%
MPLX MPLX LP 0.15% 5,000 $239K New
FC Franklin Covey Co. 0.15% 6,359 $239K Reduce -88.3%
COST Costco Wholesale Corp. 0.15% 258 $236K No change
ENB Enbridge Inc. 0.15% 5,532 $235K New
DFAS Dimensional US Small Cap ETF 0.14% 3,537 $230K Add +0.1%
APD Air Products & Chemicals Inc. 0.14% 777 $225K Add +14.3%
KMI Kinder Morgan Inc. 0.14% 8,033 $220K New
MA Mastercard Inc. Class A 0.14% 409 $215K No change
HD Home Depot Inc. 0.13% 545 $212K New
TT Trane Technologies PLC 0.13% 571 $211K No change
MO Altria Group Inc. 0.13% 4,000 $209K New
EPD Enterprise Products Partners 0.13% 6,653 $209K New
CVX Chevron Corp. 0.13% 1,388 $201K Reduce -9.9%
MSOS Advisorshares Pure US Cann 0.12% 48,750 $186K Reduce -79.0%
PKE Park Aerospace Corp. 0.10% 10,652 $156K Reduce -93.0%
OPK Opko Health Inc. 0.09% 100,000 $147K No change
PUBM Pubmatic Inc. Class A 0.09% 10,000 $147K No change
CNDT Conduent Inc. 0.06% 22,705 $92K Reduce -94.0%

Show all 102 holdings

Other holdings (4): bonds, preferreds, convertibles and warrants · $37.6M (not counted above)
SecurityClassShares / PrincipalValueChange
GROUPON INC (GRPN 6.25 03/15/27 *) NOTE 6.250% 3/1 · principal 18,385,000$17.7MNew
THE REALREAL INC (REAL 1 03/01/28) NOTE 1.000% 3/0 · principal 16,350,000$12.8MNew
PENNYMAC CORP (PMT 5.5 03/15/26) NOTE 5.500% 3/1 · principal 4,110,000$4.0MNew
THE REALREAL INC (REAL 3 06/15/25) NOTE 3.000% 6/1 · principal 3,146,000$3.1MNew

Total filed on the 13F, all lines: $196.4M.

Portfolio Sells Q3 2024 → Q4 2024
GROUPON INC (GRPN 1.125 03/15/26) Sold out 0.00% −9.10
CHEGG INC (CHGG 0.125 03/15/25) Sold out 0.00% −3.98
THE REALREAL INC (REAL 3 06/15/25) Sold out 0.00% −1.60
AYI Acuity Inc. Reduce -83.5% 0.31% −1.23
FC Franklin Covey Co. Reduce -88.3% 0.15% −1.09
PAGS Pagseguro Digital Ltd. Class A Reduce -94.6% 0.05% −1.00
PKE Park Aerospace Corp. Reduce -93.0% 0.10% −1.00
PPLI People Inc. Sold out 0.00% −0.99
WNS WNS Holdings Ltd. Reduce -66.1% 0.52% −0.98
WSO Watsco Inc. Reduce -82.9% 0.22% −0.95
MSOS Advisorshares Pure US Cann Reduce -79.0% 0.12% −0.81
CNDT Conduent Inc. Reduce -94.0% 0.06% −0.79
CRI Carter's Inc. Sold out 0.00% −0.79
PII Polaris Inc. Sold out 0.00% −0.75
AWI Armstrong World Industries Reduce -84.7% 0.15% −0.67
JEF Jefferies Financial Group Inc. Reduce -47.4% 2.12% −0.67
LGIH Lgi Homes Inc. Sold out 0.00% −0.57
DBX Dropbox Inc. Class A Reduce -49.0% 1.17% −0.54
HLIO Helios Technologies Inc. Sold out 0.00% −0.51
CIVI Civitas Resources Inc. Reduce -19.6% 1.30% −0.27
FCX Freeport-McMoran Inc. Reduce -10.4% 0.88% −0.25
ACN Accenture PLC Class A Reduce -36.4% 0.49% −0.19
LEVI Levi Strauss & Co. Class A Reduce -4.3% 1.08% −0.17
GRMN Garmin Ltd. Reduce -25.8% 1.63% −0.02
CVX Chevron Corp. Reduce -9.9% 0.13% +0.00
META Meta Platforms Inc. Class A Reduce -2.5% 0.25% +0.03
IWY iShares Russell Top 200 Grow Reduce -1.1% 0.28% +0.05
JUCY Aptus Enhanced Yield ETF Reduce -8.9% 4.05% +0.06
CPRT Copart Inc. Reduce -11.0% 1.88% +0.18
PLTR Palantir Technologies Inc. Class A Reduce -43.8% 0.98% +0.22
MKL Markel Group Inc. Reduce -0.3% 1.28% +0.25
TTWO Take-Two Interactive Softwre Reduce -0.6% 1.40% +0.36
LLYVA Liberty Media Corp.-Liberty-A Reduce -16.9% 2.05% +0.43
FRPH FRP Holdings Inc. Reduce -0.7% 3.77% +0.51

Portfolio Buys Q3 2024 → Q4 2024
REFI Chicago Atlantic Real Estate Add +503.1% 6.90% +5.89
LIEN Chicago Atlantic BDC Inc. Add +4376.6% 5.80% +5.70
DUHP Dimensional US High Profi Et Add +17.7% 8.17% +2.01
GOOGL Alphabet Inc. Class A Add +35.3% 4.04% +1.73
CTO REALTY GROWTH INC (CTO 3.875 04/15/25 *) New 1.33% +1.33
IAU iShares Gold Trust Add +43.9% 2.11% +0.81
DLTR Dollar Tree Inc. Add +103.6% 1.28% +0.76
WRB WR Berkley Corp. Add +34.9% 1.89% +0.70
BRK.B Berkshire Hathaway Inc. Class B Add +4.4% 3.57% +0.51
TJX TJX Companies Inc. Add +7.2% 1.89% +0.38
BJ Bj's Wholesale Club Holdings Add +12.1% 1.24% +0.34
CEF Sprott Physical Gold and Sil Add +0.5% 3.48% +0.34
AMZN Amazon.com Inc. Add +1.0% 1.20% +0.31
ARCC Ares Capital Corp. New 0.28% +0.28
AFCG Advanced Flower Capital Inc. New 0.26% +0.26
TSLA Tesla Inc. New 0.26% +0.26
AAPL Apple Inc. Add +0.3% 1.26% +0.23
HHH Howard Hughes Holdings Inc. Add +3.1% 1.63% +0.23
QQQ Invesco QQQ Trust Series 1 Add +8.4% 0.96% +0.22
WMT Walmart Inc. Add +4.7% 0.85% +0.21
MSFT Microsoft Corp. Add +6.8% 1.20% +0.19
MTCH Match Group Inc. Add +17.2% 1.42% +0.18
MAIN Main Street Capital Corp. New 0.18% +0.18
DIHP Dimensional International Hi Add +15.2% 0.95% +0.15
MPLX MPLX LP New 0.15% +0.15
ENB Enbridge Inc. New 0.15% +0.15
NKE Nike Inc. Class B Add +87.7% 0.32% +0.15
CG The Carlyle Group Inc. Add +4.8% 0.50% +0.14
KMI Kinder Morgan Inc. New 0.14% +0.14
HD Home Depot Inc. New 0.13% +0.13
MO Altria Group Inc. New 0.13% +0.13
EPD Enterprise Products Partners New 0.13% +0.13
ASML ASML Holding NV-NY Reg SHS Add +72.2% 0.33% +0.13
NVDA Nvidia Corp. Add +0.1% 0.53% +0.11
JNJ Johnson & Johnson Add +15.2% 0.75% +0.11
T AT&T Inc. Add +21.8% 0.26% +0.08
VZ Verizon Communications Inc. Add +39.0% 0.18% +0.05
AMGN Amgen Inc. Add +26.5% 0.36% +0.05
AMD Advanced Micro Devices Add +29.1% 0.53% +0.04
PG The Procter & Gamble Co. Add +13.7% 0.16% +0.03
APD Air Products & Chemicals Inc. Add +14.3% 0.14% +0.03
IVV iShares Core S&P 500 ETF Add +0.8% 0.19% +0.03
NEE Nextera Energy Inc. Add +15.9% 0.23% +0.02
ABBV Abbvie Inc. Add +9.4% 0.18% +0.02
DFAS Dimensional US Small Cap ETF Add +0.1% 0.14% +0.02
UNH Unitedhealth Group Inc. Add +8.3% 0.18% +0.01
LYB Lyondellbasell Indu Class A Add +18.8% 0.21% +0.01
LMT Lockheed Martin Corp. Add +4.5% 0.60% −0.01

Notes & Other Activity Q3 2024 → Q4 2024
GROUPON INC (GRPN 6.25 03/15/27 *) NOTE 6.250% 3/1 · principal New 18,385,000 $17.7M
THE REALREAL INC (REAL 1 03/01/28) NOTE 1.000% 3/0 · principal New 16,350,000 $12.8M
PENNYMAC CORP (PMT 5.5 03/15/26) NOTE 5.500% 3/1 · principal New 4,110,000 $4.0M
THE REALREAL INC (REAL 3 06/15/25) NOTE 3.000% 6/1 · principal New 3,146,000 $3.1M

Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 105$237.8MDUHP, GOOGL, CEF, BRK.B, LIEN
Q1 2026 102$212.3MDUHP, GOOGL, CEF, LIEN, IAU
Q4 2025 102$207.4MDUHP, GOOGL, CEF, LIEN, BRK.B
Q3 2025 105$204.4MDUHP, GOOGL, CEF, LIEN, BRK.B
Q2 2025 107$190.0MDUHP, LIEN, CEF, GOOGL, BRK.B
Q1 2025 101$165.3MDUHP, LIEN, BRK.B, CEF, GOOGL
Q4 2024 102$158.8MDUHP, REFI, LIEN, JUCY, GOOGL
Q3 2024 99$180.3MGROUPON INC (GRPN 1.125 03/15/26), DUHP, JUCY, CHEGG INC (CHGG 0.125 03/15/25), FRPH
Q2 2024 96$157.1MDUHP, GROUPON INC (GRPN 1.125 03/15/26), TURNING POINT BRANDS INC (TPB 2.5 07/15/24), JUCY, FRPH
Q1 2024 93$154.3MJUCY, DUHP, REFI, FRPH, BRK.B