Intrinsic Edge Capital Management LLC
In its 13F for Q1 2025 (holdings as of March 31, 2025, filed May 12, 2025), Intrinsic Edge Capital Management LLC reported 54 stock positions worth $477.0 million. Its top holding was Camping World Class A (CWH) at 6.1% of the portfolio, followed by WNS (WNS, 5.8%) and Celestica (CLS, 4.5%). Compared with Q4 2024, it opened 13 new positions, sold out of 50, added to 14 and reduced 22. The biggest buy was Louisiana-Pacific (LPX, shares +213%) and the biggest sale Primoris Services (PRIM, shares −78%).
- Most Recent 13F
- Q2 2026
- Location
- CHICAGO, IL
- CIK
- 0001671754
- Portfolio Value
- $477.0M (Q1 2025)
- SEC Filing
- 0001415889-25-012602 ↗ filed May 12, 2025
Holdings Value
Holdings 54 stocks · $477.0M
| CWH Camping World Holdings Inc. Class A | 6.06% | 1,788,439 | $28.9M | Add +56.4% |
| WNS WNS Holdings Ltd. filed as WNS HLDGS LTD | 5.82% | 451,338 | $27.8M | Reduce -2.2% |
| CLS Celestica Inc. | 4.54% | 274,864 | $21.7M | Add +81.5% |
| OSIS Osi Systems Inc. | 4.42% | 108,391 | $21.1M | Reduce -0.4% |
| BLBD Blue Bird Corp. | 4.32% | 636,418 | $20.6M | Add +17.8% |
| CVCO Cavco Industries Inc. | 4.30% | 39,511 | $20.5M | Add +67.0% |
| LPX Louisiana-Pacific Corp. | 4.24% | 219,780 | $20.2M | Add +213.2% |
| CRS Carpenter Technology | 3.78% | 99,432 | $18.0M | Reduce -0.6% |
| CVSA Covista Inc. filed as ADTALEM GLOBAL ED INC | 3.43% | 162,368 | $16.3M | Reduce -4.7% |
| MTZ Mastec Inc. | 3.20% | 130,648 | $15.2M | Add +14.9% |
| GLD SPDR Gold Shares | 3.02% | 50,000 | $14.4M | No change |
| CORT Corcept Therapeutics Inc. | 2.93% | 122,557 | $14.0M | Reduce -34.2% |
| KNF Knife River Corp. | 2.92% | 154,638 | $13.9M | Reduce -0.0% |
| BCO The Brink's Co. | 2.81% | 155,510 | $13.4M | New |
| ATEC Alphatec Holdings Inc. | 2.74% | 1,290,528 | $13.1M | Reduce -11.5% |
| RXO Rxo Inc. | 2.70% | 675,091 | $12.9M | Add +170.1% |
| NICE Nice Ltd. - Spon ADR | 2.26% | 70,000 | $10.8M | New |
| MXL Maxlinear Inc. | 2.23% | 977,590 | $10.6M | Add +191.4% |
| AMBA Ambarella Inc. | 2.22% | 210,000 | $10.6M | New |
| UTI Universal Technical Institut | 2.17% | 402,932 | $10.3M | New |
| MGNI Magnite Inc. | 1.75% | 733,044 | $8.4M | Add +1.9% |
| JBI Janus International Group Inc. | 1.66% | 1,101,359 | $7.9M | New |
| SPHD Invesco S&P 500 High Dividen | 1.58% | 150,000 | $7.5M | New |
| FOLD Amicus Therapeutics Inc. | 1.49% | 873,900 | $7.1M | Add +29.7% |
| GPI Group 1 Automotive Inc. | 1.48% | 18,465 | $7.1M | Reduce -37.6% |
| SAH Sonic Automotive Inc. Class A | 1.47% | 122,719 | $7.0M | New |
| ODFL Old Dominion Freight Line | 1.36% | 39,329 | $6.5M | Add +14.6% |
| GEF Greif Inc. Class A | 1.26% | 109,100 | $6.0M | New |
| ZETA Zeta Global Holdings Corp. Class A | 1.20% | 421,858 | $5.7M | Reduce -55.0% |
| TWST Twist Bioscience Corp. | 1.15% | 140,000 | $5.5M | New |
| PRIM Primoris Services Corp. | 1.07% | 89,136 | $5.1M | Reduce -78.3% |
| SNEX Stonex Group Inc. | 1.03% | 64,500 | $4.9M | New |
| HEI Heico Corp. | 1.03% | 18,394 | $4.9M | Reduce -44.2% |
| HOOD Robinhood Markets Inc. Class A | 0.97% | 111,240 | $4.6M | Reduce -44.3% |
| STKL Sunopta Inc. | 0.95% | 932,888 | $4.5M | Reduce -28.7% |
| WLY Wiley (john) & Sons Class A | 0.94% | 101,013 | $4.5M | Reduce -32.7% |
| DVN Devon Energy Corp. | 0.88% | 112,804 | $4.2M | No change |
| TWI Titan International Inc. | 0.86% | 487,324 | $4.1M | Add +67.7% |
| KBR KBR Inc. | 0.84% | 80,000 | $4.0M | Reduce -5.8% |
| SKY Champion Homes Inc. | 0.82% | 41,354 | $3.9M | Reduce -32.6% |
| CORZ Core Scientific Inc. | 0.77% | 506,176 | $3.7M | No change |
| MHK Mohawk Industries Inc. | 0.72% | 30,000 | $3.4M | New |
| FSS Federal Signal Corp. | 0.69% | 45,000 | $3.3M | New |
| EPC Edgewell Personal Care Co. | 0.65% | 100,000 | $3.1M | New |
| APA Apa Corp. | 0.63% | 142,156 | $3.0M | No change |
| GXO Gxo Logistics Inc. | 0.61% | 75,000 | $2.9M | Add +114.3% |
| CLSK Cleanspark Inc. | 0.47% | 334,735 | $2.2M | Add +295.0% |
| BAND Bandwidth Inc. Class A | 0.37% | 136,439 | $1.8M | Reduce -38.3% |
| RSI Rush Street Interactive Inc. | 0.34% | 150,168 | $1.6M | Reduce -86.5% |
| REAL BROKERAGE INC/THE filed as THE REAL BROKERAGE INC | 0.30% | 351,934 | $1.4M | Reduce -21.8% |
| HLF Herbalife Ltd. | 0.27% | 150,000 | $1.3M | Reduce -89.8% |
| ETHE Grayscale Ethereum Staking E | 0.16% | 50,000 | $761K | No change |
| COIN Coinbase Global Inc. Class A | 0.07% | 1,818 | $313K | Reduce -35.5% |
| RRGB Red Robin Gourmet Burgers | 0.04% | 48,711 | $173K | Reduce -85.1% |
Options reported separately and not counted above: CORT puts ($18.3M), OXM calls ($14.7M), ZETA calls ($10.8M), CLS puts ($5.5M), PRIM puts ($5.0M), ATEC puts ($4.8M), ARRY puts ($4.0M), SKY puts ($3.8M).
Portfolio Sells Q4 2024 → Q1 2025
| PRIM Primoris Services Corp. | Reduce -78.3% | 1.07% | −3.17 |
| AIT Applied Industrial Tech Inc. | Sold out | 0.00% | −2.77 |
| GLW Corning Inc. | Sold out | 0.00% | −2.41 |
| HOV Hovnanian Enterprises-A | Sold out | 0.00% | −2.38 |
| FIVN FIVE9 Inc. | Sold out | 0.00% | −2.30 |
| GVA Granite Construction Inc. | Sold out | 0.00% | −2.07 |
| RAMP Liveramp Holdings Inc. | Sold out | 0.00% | −2.02 |
| HAE Haemonetics Corp. | Sold out | 0.00% | −1.98 |
| LITE Lumentum Holdings Inc. | Sold out | 0.00% | −1.83 |
| RSI Rush Street Interactive Inc. | Reduce -86.5% | 0.34% | −1.74 |
| ALSN Allison Transmission Holding | Sold out | 0.00% | −1.67 |
| PAR Par Technology Corp. | Sold out | 0.00% | −1.54 |
| GLOB Globant SA | Sold out | 0.00% | −1.50 |
| CRTO Criteo SA-Spon | Sold out | 0.00% | −1.25 |
| FSLY Fastly Inc. Class A | Sold out | 0.00% | −1.20 |
| BRKR Bruker Corp. | Sold out | 0.00% | −1.19 |
| ZETA Zeta Global Holdings Corp. Class A | Reduce -55.0% | 1.20% | −1.09 |
| HLF Herbalife Ltd. | Reduce -89.8% | 0.27% | −1.06 |
| AZZ Azz Inc. | Sold out | 0.00% | −1.02 |
| ARLO Arlo Technologies Inc. | Sold out | 0.00% | −1.02 |
| BAH Booz Allen Hamilton Holdings | Sold out | 0.00% | −0.98 |
| PHR Phreesia Inc. | Sold out | 0.00% | −0.89 |
| APLS Apellis Pharmaceuticals Inc. | Sold out | 0.00% | −0.87 |
| CSTL Castle Biosciences Inc. | Sold out | 0.00% | −0.84 |
| EXTR Extreme Networks Inc. | Sold out | 0.00% | −0.79 |
| NCLH Norwegian Cruise Line Holdin | Sold out | 0.00% | −0.77 |
| CDNA Caredx Inc. | Sold out | 0.00% | −0.74 |
| BYRN Byrna Technologies Inc. | Sold out | 0.00% | −0.73 |
| VCEL Vericel Corp. | Sold out | 0.00% | −0.72 |
| CCOI Cogent Communications Holdin | Sold out | 0.00% | −0.71 |
| BTBT Bit Digital Inc. | Sold out | 0.00% | −0.64 |
| PSN Parsons Corp. | Sold out | 0.00% | −0.61 |
| CARS Cars.com Inc. | Sold out | 0.00% | −0.60 |
| GCO Genesco Inc. | Sold out | 0.00% | −0.59 |
| TH Target Hospitality Corp. | Sold out | 0.00% | −0.59 |
| KEX Kirby Corp. | Sold out | 0.00% | −0.58 |
| QNST Quinstreet Inc. | Sold out | 0.00% | −0.50 |
| CSGP Costar Group Inc. | Sold out | 0.00% | −0.49 |
| HAIN Hain Celestial Group Inc. | Sold out | 0.00% | −0.48 |
| STKL Sunopta Inc. | Reduce -28.7% | 0.95% | −0.42 |
| AMLP Alerian MLP ETF | Sold out | 0.00% | −0.39 |
| LIND Lindblad Expeditions Holding | Sold out | 0.00% | −0.33 |
| WULF Terawulf Inc. | Sold out | 0.00% | −0.31 |
| BSTZ BlackRock Sci & Tech TRM TR | Sold out | 0.00% | −0.28 |
| URNM Sprott Uranium Miners ETF | Sold out | 0.00% | −0.27 |
| KIDS Orthopediatrics Corp. | Sold out | 0.00% | −0.26 |
| THQ Abrdn Healthcare Opport | Sold out | 0.00% | −0.26 |
| WNC Wabash National Corp. | Sold out | 0.00% | −0.23 |
| OC Owens Corning | Sold out | 0.00% | −0.23 |
| OPK Opko Health Inc. | Sold out | 0.00% | −0.22 |
Portfolio Buys Q4 2024 → Q1 2025
| LPX Louisiana-Pacific Corp. | Add +213.2% | 4.24% | +3.25 |
| CVCO Cavco Industries Inc. | Add +67.0% | 4.30% | +2.87 |
| BCO The Brink's Co. | New | 2.81% | +2.81 |
| CWH Camping World Holdings Inc. Class A | Add +56.4% | 6.06% | +2.79 |
| CLS Celestica Inc. | Add +81.5% | 4.54% | +2.65 |
| NICE Nice Ltd. - Spon ADR | New | 2.26% | +2.26 |
| AMBA Ambarella Inc. | New | 2.22% | +2.22 |
| UTI Universal Technical Institut | New | 2.17% | +2.17 |
| RXO Rxo Inc. | Add +170.1% | 2.70% | +1.90 |
| JBI Janus International Group Inc. | New | 1.66% | +1.66 |
| SPHD Invesco S&P 500 High Dividen | New | 1.58% | +1.58 |
| BLBD Blue Bird Corp. | Add +17.8% | 4.32% | +1.49 |
| SAH Sonic Automotive Inc. Class A | New | 1.47% | +1.47 |
| MXL Maxlinear Inc. | Add +191.4% | 2.23% | +1.33 |
| GEF Greif Inc. Class A | New | 1.26% | +1.26 |
| TWST Twist Bioscience Corp. | New | 1.15% | +1.15 |
| MTZ Mastec Inc. | Add +14.9% | 3.20% | +1.10 |
| SNEX Stonex Group Inc. | New | 1.03% | +1.03 |
| MHK Mohawk Industries Inc. | New | 0.72% | +0.72 |
| FSS Federal Signal Corp. | New | 0.69% | +0.69 |
| EPC Edgewell Personal Care Co. | New | 0.65% | +0.65 |
| FOLD Amicus Therapeutics Inc. | Add +29.7% | 1.49% | +0.63 |
| TWI Titan International Inc. | Add +67.7% | 0.86% | +0.59 |
| ODFL Old Dominion Freight Line | Add +14.6% | 1.36% | +0.54 |
| GXO Gxo Logistics Inc. | Add +114.3% | 0.61% | +0.41 |
| CLSK Cleanspark Inc. | Add +295.0% | 0.47% | +0.37 |
| MGNI Magnite Inc. | Add +1.9% | 1.75% | +0.20 |
Options Activity Q4 2024 → Q1 2025
| CORT Corcept Therapeutics Inc. | put | New | 160,000 | $18.3M |
| ISHARES BITCOIN TRUST ETF | put | Sold out | 300,000 | $15.9Mbefore exit |
| OXM Oxford Industries Inc. | call | New | 250,000 | $14.7M |
| ZETA Zeta Global Holdings Corp. Class A | call | New | 800,000 | $10.8M |
| CARPENTER TECHNOLOGY CORP | put | Sold out | 50,000 | $8.5Mbefore exit |
| PRIMORIS SVCS CORP | put | Sold out | 100,000 | $7.6Mbefore exit |
| GRAYSCALE BITCOIN TRUST ETF | put | Sold out | 100,000 | $7.4Mbefore exit |
| MASTEC INC | put | Sold out | 50,000 | $6.8Mbefore exit |
| GROUP 1 AUTOMOTIVE INC | put | Sold out | 15,000 | $6.3Mbefore exit |
| CELESTICA INC | put | Sold out | 60,000 | $5.5Mbefore exit |
| CLS Celestica Inc. | put | New | 70,000 | $5.5M |
| CHAMPION HOMES INC | put | Sold out | 60,000 | $5.3Mbefore exit |
| CORCEPT THERAPEUTICS INC | put | Sold out | 100,000 | $5.0Mbefore exit |
| PRIM Primoris Services Corp. | put | New | 87,500 | $5.0M |
| ATEC Alphatec Holdings Inc. | put | New | 475,000 | $4.8M |
| FASTLY INC | put | Sold out | 500,000 | $4.7Mbefore exit |
| BIT DIGITAL INC | put | Sold out | 1,600,000 | $4.7Mbefore exit |
| PARSONS CORP DEL | put | Sold out | 50,000 | $4.6Mbefore exit |
| ARRY Array Technologies Inc. | put | New | 830,600 | $4.0M |
| SKY Champion Homes Inc. | put | New | 40,000 | $3.8M |
| NORWEGIAN CRUISE LINE HLDGS | put | Sold out | 100,000 | $2.6Mbefore exit |
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 102 | $811.5M | ARM, HUT, CRS, ARW, MCHP |
| Q1 2026 | 101 | $549.1M | GLD, GLW, WSO, CEG, MCHP |
| Q4 2025 | 78 | $515.4M | GLD, CLS, HUT, IRM, MIAX |
| Q3 2025 | 94 | $658.6M | CLS, GLW, POWL, CSGP, HOOD |
| Q2 2025 | 82 | $662.7M | CLS, WNS, CSGP, IRM, LEVI |
| Q1 2025 | 54 | $477.0M | CWH, WNS, CLS, OSIS, BLBD |
| Q4 2024 | 91 | $737.7M | PRIM, CWH, WNS, BLBD, AIT |
| Q3 2024 | 93 | $807.2M | GTM, CVSA, CLS, MTZ, SKY |
| Q2 2024 | 129 | $1.0B | NCLH, AVDX, IFF, GTLS, CAR |
| Q1 2024 | 123 | $1.2B | MBLY, SMG, LRN, AVDX, RCL |