Intrinsic Edge Capital Management LLC
In its 13F for Q2 2025 (holdings as of June 30, 2025, filed August 13, 2025), Intrinsic Edge Capital Management LLC reported 82 stock positions worth $662.7 million. Its top holding was Celestica (CLS) at 4.2% of the portfolio, followed by WNS (WNS, 3.3%) and Costar (CSGP, 3.2%). Compared with Q1 2025, it opened 47 new positions, sold out of 19, added to 10 and reduced 17. The biggest buy was a new position in Costar (CSGP) and the biggest sale Camping World Class A (CWH, shares −88%).
- Most Recent 13F
- Q2 2026
- Location
- CHICAGO, IL
- CIK
- 0001671754
- Portfolio Value
- $662.7M (Q2 2025)
- SEC Filing
- 0001415889-25-021644 ↗ filed Aug 13, 2025
Holdings Value
Holdings 82 stocks · $662.7M
| CLS Celestica Inc. | 4.17% | 177,069 | $27.6M | Reduce -35.6% |
| WNS WNS Holdings Ltd. filed as WNS HLDGS LTD | 3.34% | 350,044 | $22.1M | Reduce -22.4% |
| CSGP Costar Group Inc. | 3.20% | 263,984 | $21.2M | New |
| IRM Iron Mountain Inc. filed as IRON MTN INC DEL | 2.86% | 184,841 | $19.0M | New |
| LEVI Levi Strauss & Co. Class A | 2.60% | 930,638 | $17.2M | New |
| BLBD Blue Bird Corp. | 2.49% | 381,599 | $16.5M | Reduce -40.0% |
| GLD SPDR Gold Shares | 2.30% | 50,000 | $15.2M | No change |
| CACI Caci International Inc. Class A | 2.27% | 31,624 | $15.1M | New |
| OI O-I Glass Inc. | 2.27% | 1,020,497 | $15.0M | New |
| GLW Corning Inc. | 2.21% | 278,711 | $14.7M | New |
| ATEC Alphatec Holdings Inc. | 2.16% | 1,290,528 | $14.3M | No change |
| BLKB Blackbaud Inc. | 2.05% | 211,411 | $13.6M | New |
| REZI Resideo Technologies Inc. | 1.95% | 584,437 | $12.9M | New |
| LDOS Leidos Holdings Inc. | 1.90% | 80,000 | $12.6M | New |
| CRS Carpenter Technology | 1.89% | 45,230 | $12.5M | Reduce -54.5% |
| HOOD Robinhood Markets Inc. Class A | 1.85% | 131,240 | $12.3M | Add +18.0% |
| MSM MSC Industrial Direct Co. Class A | 1.85% | 144,272 | $12.3M | New |
| GXO Gxo Logistics Inc. | 1.84% | 250,837 | $12.2M | Add +234.4% |
| VITL Vital Farms Inc. | 1.84% | 316,100 | $12.2M | New |
| RSI Rush Street Interactive Inc. | 1.82% | 810,351 | $12.1M | Add +439.6% |
| MXL Maxlinear Inc. | 1.80% | 839,104 | $11.9M | Reduce -14.2% |
| ZBRA Zebra Technologies Corp. Class A | 1.79% | 38,401 | $11.8M | New |
| HAE Haemonetics Corp. | 1.69% | 150,351 | $11.2M | New |
| CORT Corcept Therapeutics Inc. | 1.63% | 147,557 | $10.8M | Add +20.4% |
| HURN Huron Consulting Group Inc. | 1.63% | 78,600 | $10.8M | New |
| ST Sensata Technologies Holdplc | 1.59% | 350,000 | $10.5M | New |
| OSIS Osi Systems Inc. | 1.56% | 45,855 | $10.3M | Reduce -57.7% |
| MTZ Mastec Inc. | 1.52% | 59,257 | $10.1M | Reduce -54.6% |
| GPI Group 1 Automotive Inc. | 1.45% | 21,988 | $9.6M | Add +19.1% |
| SPHD Invesco S&P 500 High Dividen | 1.44% | 200,000 | $9.5M | Add +33.3% |
| CCOI Cogent Communications Holdin | 1.31% | 180,000 | $8.7M | New |
| CORZ Core Scientific Inc. | 1.30% | 506,176 | $8.6M | No change |
| GLXY Galaxy Digital Inc. Class A | 1.27% | 382,918 | $8.4M | New |
| CVSA Covista Inc. filed as ADTALEM GLOBAL ED INC | 1.26% | 65,485 | $8.3M | Reduce -59.7% |
| THS Treehouse Foods Inc. | 1.15% | 391,000 | $7.6M | New |
| SNEX Stonex Group Inc. | 1.12% | 81,500 | $7.4M | Add +26.4% |
| PRDO Perdoceo Education Corp. | 1.10% | 223,980 | $7.3M | New |
| ALG Alamo Group Inc. | 1.08% | 32,680 | $7.1M | New |
| FN Fabrinet | 1.07% | 23,997 | $7.1M | New |
| WLY Wiley (john) & Sons Class A | 1.01% | 150,000 | $6.7M | Add +48.5% |
| AMZN Amazon.com Inc. | 0.99% | 30,000 | $6.6M | New |
| ARM Arm Holdings PLC-ADR | 0.98% | 40,000 | $6.5M | New |
| CLSK Cleanspark Inc. | 0.97% | 584,735 | $6.4M | Add +74.7% |
| GVA Granite Construction Inc. | 0.96% | 67,904 | $6.3M | New |
| PRIM Primoris Services Corp. | 0.95% | 80,723 | $6.3M | Reduce -9.4% |
| TWI Titan International Inc. | 0.95% | 610,513 | $6.3M | Add +25.3% |
| MYRG MYR Group Inc./Delaware | 0.91% | 33,335 | $6.0M | New |
| HEI Heico Corp. | 0.91% | 18,394 | $6.0M | No change |
| HUT Hut 8 Corp. | 0.90% | 320,000 | $6.0M | New |
| EZPW Ezcorp Inc. Class A | 0.90% | 427,890 | $5.9M | New |
| AIR Aar Corp. | 0.86% | 82,852 | $5.7M | New |
| AVGO Broadcom Inc. | 0.83% | 20,000 | $5.5M | New |
| GEF Greif Inc. Class A | 0.82% | 84,100 | $5.5M | Reduce -22.9% |
| CARS Cars.com Inc. | 0.79% | 439,700 | $5.2M | New |
| CRTO Criteo SA-Spon | 0.78% | 215,505 | $5.2M | New |
| JBHT Hunt (jb) Transprt SVCS Inc. | 0.76% | 35,000 | $5.0M | New |
| MCHP Microchip Technology Inc. | 0.74% | 70,000 | $4.9M | New |
| ODFL Old Dominion Freight Line | 0.74% | 30,112 | $4.9M | Reduce -23.4% |
| CEVA Ceva Inc. | 0.73% | 219,896 | $4.8M | New |
| LPX Louisiana-Pacific Corp. | 0.67% | 51,719 | $4.4M | Reduce -76.5% |
| HZO Marinemax Inc. | 0.64% | 170,000 | $4.3M | New |
| PHIN Phinia Inc. | 0.60% | 90,000 | $4.0M | New |
| AMLP Alerian MLP ETF | 0.59% | 80,000 | $3.9M | New |
| DEFT Defi Technologies Inc. | 0.56% | 1,260,000 | $3.7M | New |
| CVLT Commvault Systems Inc. | 0.55% | 20,800 | $3.6M | New |
| CWH Camping World Holdings Inc. Class A | 0.54% | 209,399 | $3.6M | Reduce -88.3% |
| DVN Devon Energy Corp. | 0.54% | 112,804 | $3.6M | No change |
| UTI Universal Technical Institut | 0.53% | 102,916 | $3.5M | Reduce -74.5% |
| IREN Iren Ltd. filed as IREN LIMITED | 0.51% | 230,000 | $3.4M | New |
| STKL Sunopta Inc. | 0.45% | 512,843 | $3.0M | Reduce -45.0% |
| FNKO Funko Inc. Class A | 0.43% | 598,200 | $2.8M | New |
| APA Apa Corp. | 0.39% | 142,156 | $2.6M | No change |
| ZETA Zeta Global Holdings Corp. Class A | 0.37% | 159,435 | $2.5M | Reduce -62.2% |
| RXO Rxo Inc. | 0.36% | 150,000 | $2.4M | Reduce -77.8% |
| MRP Millrose Properties | 0.30% | 70,000 | $2.0M | New |
| OPLN Openlane Inc. | 0.30% | 80,000 | $2.0M | New |
| OSK Oshkosh Corp. | 0.17% | 10,000 | $1.1M | New |
| ETHE Grayscale Ethereum Staking E | 0.16% | 50,000 | $1.0M | No change |
| COIN Coinbase Global Inc. Class A | 0.10% | 1,818 | $637K | No change |
| BITCOIN DEPOT INC | 0.08% | 100,000 | $507K | New |
| ETOR Etoro Group Ltd. Class A | 0.05% | 5,000 | $333K | New |
| NSLR Neostellar Capital Corp. filed as SURO CAPITAL CORP | 0.02% | 19,650 | $161K | New |
Options reported separately and not counted above: CLS puts ($15.6M), ATEC puts ($9.5M), CRS puts ($8.3M), CORT puts ($5.9M), PRIM puts ($3.9M), MTZ puts ($3.4M), MSM puts ($3.4M), FNKO puts ($1.8M).
Portfolio Sells Q1 2025 → Q2 2025
| CWH Camping World Holdings Inc. Class A | Reduce -88.3% | 0.54% | −5.52 |
| CVCO Cavco Industries Inc. | Sold out | 0.00% | −4.30 |
| LPX Louisiana-Pacific Corp. | Reduce -76.5% | 0.67% | −3.57 |
| KNF Knife River Corp. | Sold out | 0.00% | −2.92 |
| OSIS Osi Systems Inc. | Reduce -57.7% | 1.56% | −2.86 |
| BCO The Brink's Co. | Sold out | 0.00% | −2.81 |
| WNS WNS Holdings Ltd. | Reduce -22.4% | 3.34% | −2.48 |
| RXO Rxo Inc. | Reduce -77.8% | 0.36% | −2.35 |
| NICE Nice Ltd. - Spon ADR | Sold out | 0.00% | −2.26 |
| AMBA Ambarella Inc. | Sold out | 0.00% | −2.22 |
| CVSA Covista Inc. | Reduce -59.7% | 1.26% | −2.17 |
| CRS Carpenter Technology | Reduce -54.5% | 1.89% | −1.89 |
| BLBD Blue Bird Corp. | Reduce -40.0% | 2.49% | −1.83 |
| MGNI Magnite Inc. | Sold out | 0.00% | −1.75 |
| MTZ Mastec Inc. | Reduce -54.6% | 1.52% | −1.67 |
| JBI Janus International Group Inc. | Sold out | 0.00% | −1.66 |
| UTI Universal Technical Institut | Reduce -74.5% | 0.53% | −1.64 |
| FOLD Amicus Therapeutics Inc. | Sold out | 0.00% | −1.49 |
| SAH Sonic Automotive Inc. Class A | Sold out | 0.00% | −1.47 |
| TWST Twist Bioscience Corp. | Sold out | 0.00% | −1.15 |
| KBR KBR Inc. | Sold out | 0.00% | −0.84 |
| ZETA Zeta Global Holdings Corp. Class A | Reduce -62.2% | 0.37% | −0.83 |
| SKY Champion Homes Inc. | Sold out | 0.00% | −0.82 |
| MHK Mohawk Industries Inc. | Sold out | 0.00% | −0.72 |
| FSS Federal Signal Corp. | Sold out | 0.00% | −0.69 |
| EPC Edgewell Personal Care Co. | Sold out | 0.00% | −0.65 |
| ODFL Old Dominion Freight Line | Reduce -23.4% | 0.74% | −0.63 |
| STKL Sunopta Inc. | Reduce -45.0% | 0.45% | −0.50 |
| GEF Greif Inc. Class A | Reduce -22.9% | 0.82% | −0.43 |
| MXL Maxlinear Inc. | Reduce -14.2% | 1.80% | −0.43 |
| BAND Bandwidth Inc. Class A | Sold out | 0.00% | −0.37 |
| CLS Celestica Inc. | Reduce -35.6% | 4.17% | −0.37 |
| REAL BROKERAGE INC/THE | Sold out | 0.00% | −0.30 |
| HLF Herbalife Ltd. | Sold out | 0.00% | −0.27 |
| PRIM Primoris Services Corp. | Reduce -9.4% | 0.95% | −0.12 |
| RRGB Red Robin Gourmet Burgers | Sold out | 0.00% | −0.04 |
Portfolio Buys Q1 2025 → Q2 2025
| CSGP Costar Group Inc. | New | 3.20% | +3.20 |
| IRM Iron Mountain Inc. | New | 2.86% | +2.86 |
| LEVI Levi Strauss & Co. Class A | New | 2.60% | +2.60 |
| CACI Caci International Inc. Class A | New | 2.27% | +2.27 |
| OI O-I Glass Inc. | New | 2.27% | +2.27 |
| GLW Corning Inc. | New | 2.21% | +2.21 |
| BLKB Blackbaud Inc. | New | 2.05% | +2.05 |
| REZI Resideo Technologies Inc. | New | 1.95% | +1.95 |
| LDOS Leidos Holdings Inc. | New | 1.90% | +1.90 |
| MSM MSC Industrial Direct Co. Class A | New | 1.85% | +1.85 |
| VITL Vital Farms Inc. | New | 1.84% | +1.84 |
| ZBRA Zebra Technologies Corp. Class A | New | 1.79% | +1.79 |
| HAE Haemonetics Corp. | New | 1.69% | +1.69 |
| HURN Huron Consulting Group Inc. | New | 1.63% | +1.63 |
| ST Sensata Technologies Holdplc | New | 1.59% | +1.59 |
| RSI Rush Street Interactive Inc. | Add +439.6% | 1.82% | +1.48 |
| CCOI Cogent Communications Holdin | New | 1.31% | +1.31 |
| GLXY Galaxy Digital Inc. Class A | New | 1.27% | +1.27 |
| GXO Gxo Logistics Inc. | Add +234.4% | 1.84% | +1.23 |
| THS Treehouse Foods Inc. | New | 1.15% | +1.15 |
| PRDO Perdoceo Education Corp. | New | 1.10% | +1.10 |
| ALG Alamo Group Inc. | New | 1.08% | +1.08 |
| FN Fabrinet | New | 1.07% | +1.07 |
| AMZN Amazon.com Inc. | New | 0.99% | +0.99 |
| ARM Arm Holdings PLC-ADR | New | 0.98% | +0.98 |
| GVA Granite Construction Inc. | New | 0.96% | +0.96 |
| MYRG MYR Group Inc./Delaware | New | 0.91% | +0.91 |
| HUT Hut 8 Corp. | New | 0.90% | +0.90 |
| EZPW Ezcorp Inc. Class A | New | 0.90% | +0.90 |
| HOOD Robinhood Markets Inc. Class A | Add +18.0% | 1.85% | +0.88 |
| AIR Aar Corp. | New | 0.86% | +0.86 |
| AVGO Broadcom Inc. | New | 0.83% | +0.83 |
| CARS Cars.com Inc. | New | 0.79% | +0.79 |
| CRTO Criteo SA-Spon | New | 0.78% | +0.78 |
| JBHT Hunt (jb) Transprt SVCS Inc. | New | 0.76% | +0.76 |
| MCHP Microchip Technology Inc. | New | 0.74% | +0.74 |
| CEVA Ceva Inc. | New | 0.73% | +0.73 |
| HZO Marinemax Inc. | New | 0.64% | +0.64 |
| PHIN Phinia Inc. | New | 0.60% | +0.60 |
| AMLP Alerian MLP ETF | New | 0.59% | +0.59 |
| DEFT Defi Technologies Inc. | New | 0.56% | +0.56 |
| CVLT Commvault Systems Inc. | New | 0.55% | +0.55 |
| IREN Iren Ltd. | New | 0.51% | +0.51 |
| CLSK Cleanspark Inc. | Add +74.7% | 0.97% | +0.50 |
| FNKO Funko Inc. Class A | New | 0.43% | +0.43 |
| MRP Millrose Properties | New | 0.30% | +0.30 |
| OPLN Openlane Inc. | New | 0.30% | +0.30 |
| OSK Oshkosh Corp. | New | 0.17% | +0.17 |
| TWI Titan International Inc. | Add +25.3% | 0.95% | +0.09 |
| SNEX Stonex Group Inc. | Add +26.4% | 1.12% | +0.09 |
Options Activity Q1 2025 → Q2 2025
| CLS Celestica Inc. | put | Add +42.9% | 100,000 | $15.6M |
| OXM Oxford Industries Inc. | call | Sold out | 250,000 | $14.7Mbefore exit |
| ZETA Zeta Global Holdings Corp. Class A | call | Sold out | 800,000 | $10.8Mbefore exit |
| ATEC Alphatec Holdings Inc. | put | Add +81.0% | 860,000 | $9.5M |
| CRS Carpenter Technology | put | New | 30,000 | $8.3M |
| CORT Corcept Therapeutics Inc. | put | Reduce -50.0% | 80,000 | $5.9M |
| ARRY Array Technologies Inc. | put | Sold out | 830,600 | $4.0Mbefore exit |
| PRIM Primoris Services Corp. | put | Reduce -42.9% | 50,000 | $3.9M |
| SKY Champion Homes Inc. | put | Sold out | 40,000 | $3.8Mbefore exit |
| MTZ Mastec Inc. | put | New | 20,000 | $3.4M |
| MSM MSC Industrial Direct Co. Class A | put | New | 40,000 | $3.4M |
| FNKO Funko Inc. Class A | put | New | 370,700 | $1.8M |
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 |