Intrinsic Edge Capital Management LLC
In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 12, 2025), Intrinsic Edge Capital Management LLC reported 94 stock positions worth $658.6 million. Its top holding was Celestica (CLS) at 4.8% of the portfolio, followed by Corning (GLW, 3.1%) and Powell Industries (POWL, 3.0%). Compared with Q2 2025, it opened 37 new positions, sold out of 25, added to 17 and reduced 27. The biggest buy was a new position in Powell Industries (POWL) and the biggest sale an exit from WNS (WNS).
- Most Recent 13F
- Q2 2026
- Location
- CHICAGO, IL
- CIK
- 0001671754
- Portfolio Value
- $658.6M (Q3 2025)
- SEC Filing
- 0001671754-25-000008 ↗ filed Nov 12, 2025
Holdings Value
Holdings 94 stocks · $658.6M
| CLS Celestica Inc. | 4.78% | 127,859 | $31.5M | Reduce -27.8% |
| GLW Corning Inc. | 3.06% | 245,975 | $20.2M | Reduce -11.8% |
| POWL Powell Industries Inc. | 3.04% | 65,600 | $20.0M | New |
| CSGP Costar Group Inc. | 2.87% | 224,297 | $18.9M | Reduce -15.0% |
| HOOD Robinhood Markets Inc. Class A | 2.85% | 131,240 | $18.8M | No change |
| ATEC Alphatec Holdings Inc. | 2.85% | 1,290,528 | $18.8M | No change |
| WLY Wiley (john) & Sons Class A | 2.74% | 445,618 | $18.0M | Add +197.1% |
| GLD SPDR Gold Shares | 2.70% | 50,000 | $17.8M | No change |
| HURN Huron Consulting Group Inc. | 2.33% | 104,519 | $15.3M | Add +33.0% |
| IRM Iron Mountain Inc. filed as IRON MTN INC DEL | 2.31% | 149,371 | $15.2M | Reduce -19.2% |
| OSIS Osi Systems Inc. | 2.29% | 60,385 | $15.1M | Add +31.7% |
| LEVI Levi Strauss & Co. Class A | 2.27% | 640,222 | $14.9M | Reduce -31.2% |
| OPLN Openlane Inc. | 2.16% | 494,842 | $14.2M | Add +518.5% |
| MIAX Miami International Holdings | 2.13% | 348,392 | $14.0M | New |
| HUT Hut 8 Corp. | 2.11% | 400,000 | $13.9M | Add +25.0% |
| PRIM Primoris Services Corp. | 1.89% | 90,855 | $12.5M | Add +12.6% |
| CVSA Covista Inc. filed as ADTALEM GLOBAL ED INC | 1.73% | 73,648 | $11.4M | Add +12.5% |
| GXO Gxo Logistics Inc. | 1.71% | 213,512 | $11.3M | Reduce -14.9% |
| PEGA Pegasystems Inc. | 1.66% | 190,261 | $10.9M | New |
| IREN Iren Ltd. filed as IREN LIMITED | 1.64% | 230,000 | $10.8M | No change |
| AIR Aar Corp. | 1.62% | 118,986 | $10.7M | Add +43.6% |
| PRDO Perdoceo Education Corp. | 1.51% | 263,741 | $9.9M | Add +17.8% |
| CRS Carpenter Technology | 1.50% | 40,230 | $9.9M | Reduce -11.1% |
| LDOS Leidos Holdings Inc. | 1.47% | 51,077 | $9.7M | Reduce -36.1% |
| MTZ Mastec Inc. | 1.43% | 44,257 | $9.4M | Reduce -25.3% |
| SVV Savers Value Village Inc. | 1.43% | 709,987 | $9.4M | New |
| CORT Corcept Therapeutics Inc. | 1.41% | 111,947 | $9.3M | Reduce -24.1% |
| CORZ Core Scientific Inc. | 1.35% | 496,176 | $8.9M | Reduce -2.0% |
| AMZN Amazon.com Inc. | 1.33% | 40,000 | $8.8M | Add +33.3% |
| CEVA Ceva Inc. | 1.32% | 329,896 | $8.7M | Add +50.0% |
| GLXY Galaxy Digital Inc. Class A | 1.25% | 242,918 | $8.2M | Reduce -36.6% |
| BLBD Blue Bird Corp. | 1.22% | 139,304 | $8.0M | Reduce -63.5% |
| SFD Smithfield Foods Inc. | 1.08% | 303,961 | $7.1M | New |
| REZI Resideo Technologies Inc. | 1.06% | 162,408 | $7.0M | Reduce -72.2% |
| MSOS Advisorshares Pure US Cann | 1.02% | 1,400,000 | $6.7M | New |
| AVGO Broadcom Inc. | 1.00% | 20,000 | $6.6M | No change |
| GTM Zoominfo Technologies Inc. | 0.91% | 549,964 | $6.0M | New |
| HEI Heico Corp. | 0.90% | 18,394 | $5.9M | No change |
| EZPW Ezcorp Inc. Class A | 0.90% | 309,689 | $5.9M | Reduce -27.6% |
| FBIN Fortune Brands Innovations I | 0.89% | 110,000 | $5.9M | New |
| EXP Eagle Materials Inc. | 0.88% | 25,000 | $5.8M | New |
| CVCO Cavco Industries Inc. | 0.88% | 9,999 | $5.8M | New |
| CVLT Commvault Systems Inc. | 0.86% | 30,000 | $5.7M | Add +44.2% |
| ARM Arm Holdings PLC-ADR | 0.86% | 40,000 | $5.7M | No change |
| ODFL Old Dominion Freight Line | 0.86% | 40,112 | $5.6M | Add +33.2% |
| FIVN FIVE9 Inc. | 0.83% | 225,231 | $5.5M | New |
| LRN Stride Inc. | 0.79% | 35,000 | $5.2M | New |
| SGHC Super Group SGHC Ltd. | 0.76% | 379,548 | $5.0M | New |
| COIN Coinbase Global Inc. Class A | 0.76% | 14,818 | $5.0M | Add +715.1% |
| SNPS Synopsys Inc. | 0.75% | 10,000 | $4.9M | New |
| BLKB Blackbaud Inc. | 0.72% | 73,692 | $4.7M | Reduce -65.1% |
| JBHT Hunt (jb) Transprt SVCS Inc. | 0.71% | 35,000 | $4.7M | No change |
| VMC Vulcan Materials Co. | 0.70% | 15,000 | $4.6M | New |
| LPX Louisiana-Pacific Corp. | 0.70% | 51,719 | $4.6M | No change |
| GVA Granite Construction Inc. | 0.67% | 40,081 | $4.4M | Reduce -41.0% |
| ZETA Zeta Global Holdings Corp. Class A | 0.65% | 216,887 | $4.3M | Add +36.0% |
| AMLP Alerian MLP ETF | 0.64% | 90,000 | $4.2M | Add +12.5% |
| CRTO Criteo SA-Spon | 0.61% | 178,328 | $4.0M | Reduce -17.3% |
| DVN Devon Energy Corp. | 0.60% | 112,804 | $4.0M | No change |
| OLLI Ollie's Bargain Outlet Holdi | 0.58% | 30,000 | $3.9M | New |
| MSM MSC Industrial Direct Co. Class A | 0.56% | 40,000 | $3.7M | Reduce -72.3% |
| MNRO Monro Inc. | 0.56% | 205,000 | $3.7M | New |
| MCHP Microchip Technology Inc. | 0.56% | 57,000 | $3.7M | Reduce -18.6% |
| EEFT Euronet Worldwide Inc. | 0.53% | 40,000 | $3.5M | New |
| APA Apa Corp. | 0.52% | 142,156 | $3.5M | No change |
| CRCL Circle Internet Group Inc. | 0.51% | 25,500 | $3.4M | New |
| CNM Core & Main Inc. Class A | 0.49% | 60,000 | $3.2M | New |
| CARS Cars.com Inc. | 0.49% | 263,748 | $3.2M | Reduce -40.0% |
| THR Thermon Group Holdings Inc. | 0.49% | 120,000 | $3.2M | New |
| CACI Caci International Inc. Class A | 0.48% | 6,281 | $3.1M | Reduce -80.1% |
| UAMY United States Antimony Corp. | 0.47% | 500,058 | $3.1M | New |
| ICLN iShares Global Clean Energy | 0.47% | 200,000 | $3.1M | New |
| STKL Sunopta Inc. | 0.46% | 512,843 | $3.0M | No change |
| TWI Titan International Inc. | 0.45% | 390,513 | $3.0M | Reduce -36.0% |
| HSY The Hershey Co. | 0.43% | 15,000 | $2.8M | New |
| CTOS Custom Truck One Source Inc. | 0.39% | 399,622 | $2.6M | New |
| GDLC Grayscale Coindesk 5 ETF | 0.39% | 45,567 | $2.5M | New |
| HZO Marinemax Inc. | 0.38% | 99,510 | $2.5M | Reduce -41.5% |
| HRI Herc Holdings Inc. filed as HERC HLDGS INC | 0.35% | 20,000 | $2.3M | New |
| QNST Quinstreet Inc. | 0.35% | 150,000 | $2.3M | New |
| VPU Vanguard Utilities ETF | 0.29% | 10,000 | $1.9M | New |
| EVER Everquote Inc. Class A | 0.28% | 80,000 | $1.8M | New |
| ETHE Grayscale Ethereum Staking E | 0.26% | 50,000 | $1.7M | No change |
| HLF Herbalife Ltd. | 0.26% | 200,000 | $1.7M | New |
| CLSK Cleanspark Inc. | 0.25% | 114,735 | $1.7M | Reduce -80.4% |
| HLMN Hillman Solutions Corp. | 0.17% | 119,600 | $1.1M | New |
| DEFT Defi Technologies Inc. | 0.11% | 330,000 | $696K | Reduce -73.8% |
| CWH Camping World Holdings Inc. Class A | 0.10% | 40,576 | $641K | Reduce -80.6% |
| GDEN Golden Entertainment Inc. | 0.09% | 25,572 | $603K | New |
| HLLY Holley Inc. | 0.09% | 180,594 | $567K | New |
| DBRG Digitalbridge Group Inc. | 0.07% | 40,000 | $468K | New |
| BULL Webull Corp. | 0.07% | 30,000 | $444K | New |
| NSLR Neostellar Capital Corp. filed as SURO CAPITAL CORP | 0.05% | 40,000 | $360K | Add +103.6% |
| ETH Grayscale Ethereum Staking M | 0.04% | 6,000 | $235K | New |
Options reported separately and not counted above: CLS puts ($24.6M), ATEC puts ($12.8M), GLW puts ($8.2M), LEVI puts ($5.3M), WGMI puts ($5.3M), PRIM puts ($2.7M).
Portfolio Sells Q2 2025 → Q3 2025
| WNS WNS Holdings Ltd. | Sold out | 0.00% | −3.34 |
| OI O-I Glass Inc. | Sold out | 0.00% | −2.27 |
| VITL Vital Farms Inc. | Sold out | 0.00% | −1.84 |
| RSI Rush Street Interactive Inc. | Sold out | 0.00% | −1.82 |
| MXL Maxlinear Inc. | Sold out | 0.00% | −1.80 |
| CACI Caci International Inc. Class A | Reduce -80.1% | 0.48% | −1.80 |
| ZBRA Zebra Technologies Corp. Class A | Sold out | 0.00% | −1.79 |
| HAE Haemonetics Corp. | Sold out | 0.00% | −1.69 |
| ST Sensata Technologies Holdplc | Sold out | 0.00% | −1.59 |
| GPI Group 1 Automotive Inc. | Sold out | 0.00% | −1.45 |
| SPHD Invesco S&P 500 High Dividen | Sold out | 0.00% | −1.44 |
| BLKB Blackbaud Inc. | Reduce -65.1% | 0.72% | −1.33 |
| CCOI Cogent Communications Holdin | Sold out | 0.00% | −1.31 |
| MSM MSC Industrial Direct Co. Class A | Reduce -72.3% | 0.56% | −1.29 |
| BLBD Blue Bird Corp. | Reduce -63.5% | 1.22% | −1.27 |
| THS Treehouse Foods Inc. | Sold out | 0.00% | −1.15 |
| SNEX Stonex Group Inc. | Sold out | 0.00% | −1.12 |
| ALG Alamo Group Inc. | Sold out | 0.00% | −1.08 |
| FN Fabrinet | Sold out | 0.00% | −1.07 |
| MYRG MYR Group Inc./Delaware | Sold out | 0.00% | −0.91 |
| REZI Resideo Technologies Inc. | Reduce -72.2% | 1.06% | −0.88 |
| GEF Greif Inc. Class A | Sold out | 0.00% | −0.82 |
| CLSK Cleanspark Inc. | Reduce -80.4% | 0.25% | −0.72 |
| PHIN Phinia Inc. | Sold out | 0.00% | −0.60 |
| IRM Iron Mountain Inc. | Reduce -19.2% | 2.31% | −0.55 |
| UTI Universal Technical Institut | Sold out | 0.00% | −0.53 |
| TWI Titan International Inc. | Reduce -36.0% | 0.45% | −0.50 |
| DEFT Defi Technologies Inc. | Reduce -73.8% | 0.11% | −0.45 |
| CWH Camping World Holdings Inc. Class A | Reduce -80.6% | 0.10% | −0.45 |
| LDOS Leidos Holdings Inc. | Reduce -36.1% | 1.47% | −0.44 |
| FNKO Funko Inc. Class A | Sold out | 0.00% | −0.43 |
| CRS Carpenter Technology | Reduce -11.1% | 1.50% | −0.39 |
| RXO Rxo Inc. | Sold out | 0.00% | −0.36 |
| LEVI Levi Strauss & Co. Class A | Reduce -31.2% | 2.27% | −0.33 |
| CSGP Costar Group Inc. | Reduce -15.0% | 2.87% | −0.33 |
| MRP Millrose Properties | Sold out | 0.00% | −0.30 |
| CARS Cars.com Inc. | Reduce -40.0% | 0.49% | −0.30 |
| GVA Granite Construction Inc. | Reduce -41.0% | 0.67% | −0.29 |
| HZO Marinemax Inc. | Reduce -41.5% | 0.38% | −0.26 |
| CORT Corcept Therapeutics Inc. | Reduce -24.1% | 1.41% | −0.22 |
| MCHP Microchip Technology Inc. | Reduce -18.6% | 0.56% | −0.19 |
| OSK Oshkosh Corp. | Sold out | 0.00% | −0.17 |
| CRTO Criteo SA-Spon | Reduce -17.3% | 0.61% | −0.17 |
| GXO Gxo Logistics Inc. | Reduce -14.9% | 1.71% | −0.13 |
| MTZ Mastec Inc. | Reduce -25.3% | 1.43% | −0.09 |
| BITCOIN DEPOT INC | Sold out | 0.00% | −0.08 |
| ETOR Etoro Group Ltd. Class A | Sold out | 0.00% | −0.05 |
| GLXY Galaxy Digital Inc. Class A | Reduce -36.6% | 1.25% | −0.02 |
| EZPW Ezcorp Inc. Class A | Reduce -27.6% | 0.90% | −0.00 |
| CORZ Core Scientific Inc. | Reduce -2.0% | 1.35% | +0.05 |
Portfolio Buys Q2 2025 → Q3 2025
| POWL Powell Industries Inc. | New | 3.04% | +3.04 |
| MIAX Miami International Holdings | New | 2.13% | +2.13 |
| OPLN Openlane Inc. | Add +518.5% | 2.16% | +1.87 |
| WLY Wiley (john) & Sons Class A | Add +197.1% | 2.74% | +1.73 |
| PEGA Pegasystems Inc. | New | 1.66% | +1.66 |
| SVV Savers Value Village Inc. | New | 1.43% | +1.43 |
| HUT Hut 8 Corp. | Add +25.0% | 2.11% | +1.22 |
| SFD Smithfield Foods Inc. | New | 1.08% | +1.08 |
| MSOS Advisorshares Pure US Cann | New | 1.02% | +1.02 |
| PRIM Primoris Services Corp. | Add +12.6% | 1.89% | +0.95 |
| GTM Zoominfo Technologies Inc. | New | 0.91% | +0.91 |
| FBIN Fortune Brands Innovations I | New | 0.89% | +0.89 |
| EXP Eagle Materials Inc. | New | 0.88% | +0.88 |
| CVCO Cavco Industries Inc. | New | 0.88% | +0.88 |
| FIVN FIVE9 Inc. | New | 0.83% | +0.83 |
| LRN Stride Inc. | New | 0.79% | +0.79 |
| SGHC Super Group SGHC Ltd. | New | 0.76% | +0.76 |
| AIR Aar Corp. | Add +43.6% | 1.62% | +0.76 |
| SNPS Synopsys Inc. | New | 0.75% | +0.75 |
| OSIS Osi Systems Inc. | Add +31.7% | 2.29% | +0.73 |
| VMC Vulcan Materials Co. | New | 0.70% | +0.70 |
| HURN Huron Consulting Group Inc. | Add +33.0% | 2.33% | +0.70 |
| COIN Coinbase Global Inc. Class A | Add +715.1% | 0.76% | +0.66 |
| CEVA Ceva Inc. | Add +50.0% | 1.32% | +0.59 |
| OLLI Ollie's Bargain Outlet Holdi | New | 0.58% | +0.58 |
| MNRO Monro Inc. | New | 0.56% | +0.56 |
| EEFT Euronet Worldwide Inc. | New | 0.53% | +0.53 |
| CRCL Circle Internet Group Inc. | New | 0.51% | +0.51 |
| CNM Core & Main Inc. Class A | New | 0.49% | +0.49 |
| THR Thermon Group Holdings Inc. | New | 0.49% | +0.49 |
| UAMY United States Antimony Corp. | New | 0.47% | +0.47 |
| ICLN iShares Global Clean Energy | New | 0.47% | +0.47 |
| CVSA Covista Inc. | Add +12.5% | 1.73% | +0.47 |
| HSY The Hershey Co. | New | 0.43% | +0.43 |
| PRDO Perdoceo Education Corp. | Add +17.8% | 1.51% | +0.40 |
| CTOS Custom Truck One Source Inc. | New | 0.39% | +0.39 |
| GDLC Grayscale Coindesk 5 ETF | New | 0.39% | +0.39 |
| HRI Herc Holdings Inc. | New | 0.35% | +0.35 |
| QNST Quinstreet Inc. | New | 0.35% | +0.35 |
| AMZN Amazon.com Inc. | Add +33.3% | 1.33% | +0.34 |
| CVLT Commvault Systems Inc. | Add +44.2% | 0.86% | +0.31 |
| VPU Vanguard Utilities ETF | New | 0.29% | +0.29 |
| ZETA Zeta Global Holdings Corp. Class A | Add +36.0% | 0.65% | +0.28 |
| EVER Everquote Inc. Class A | New | 0.28% | +0.28 |
| HLF Herbalife Ltd. | New | 0.26% | +0.26 |
| HLMN Hillman Solutions Corp. | New | 0.17% | +0.17 |
| ODFL Old Dominion Freight Line | Add +33.2% | 0.86% | +0.12 |
| GDEN Golden Entertainment Inc. | New | 0.09% | +0.09 |
| HLLY Holley Inc. | New | 0.09% | +0.09 |
| DBRG Digitalbridge Group Inc. | New | 0.07% | +0.07 |
Options Activity Q2 2025 → Q3 2025
| ATEC Alphatec Holdings Inc. | put | Add +2.3% | 880,000 | $12.8M |
| CRS Carpenter Technology | put | Sold out | 30,000 | $8.3Mbefore exit |
| GLW Corning Inc. | put | New | 100,000 | $8.2M |
| CORT Corcept Therapeutics Inc. | put | Sold out | 80,000 | $5.9Mbefore exit |
| LEVI Levi Strauss & Co. Class A | put | New | 228,100 | $5.3M |
| WGMI CS BTC Min Dig PWR ETF | put | New | 120,000 | $5.3M |
| MTZ Mastec Inc. | put | Sold out | 20,000 | $3.4Mbefore exit |
| MSM MSC Industrial Direct Co. Class A | put | Sold out | 40,000 | $3.4Mbefore exit |
| PRIM Primoris Services Corp. | put | Reduce -60.0% | 20,000 | $2.7M |
| FNKO Funko Inc. Class A | put | Sold out | 370,700 | $1.8Mbefore 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 |