Intrinsic Edge Capital Management LLC
In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 12, 2026), Intrinsic Edge Capital Management LLC reported 78 stock positions worth $515.4 million. Its top holding was SPDR Gold Shares (GLD) at 3.8% of the portfolio, followed by Celestica (CLS, 3.7%) and Hut 8 (HUT, 3.1%). Compared with Q3 2025, it opened 23 new positions, sold out of 39, added to 17 and reduced 23. The biggest buy was a new position in Azz (AZZ) and the biggest sale an exit from Powell Industries (POWL).
- Most Recent 13F
- Q2 2026
- Location
- CHICAGO, IL
- CIK
- 0001671754
- Portfolio Value
- $515.4M (Q4 2025)
- SEC Filing
- 0001671754-26-000003 ↗ filed Feb 12, 2026
Holdings Value
Holdings 78 stocks · $515.4M
| GLD SPDR Gold Shares | 3.84% | 50,000 | $19.8M | No change |
| CLS Celestica Inc. | 3.72% | 64,828 | $19.2M | Reduce -49.3% |
| HUT Hut 8 Corp. | 3.12% | 350,000 | $16.1M | Reduce -12.5% |
| IRM Iron Mountain Inc. filed as IRON MTN INC DEL | 2.89% | 179,473 | $14.9M | Add +20.1% |
| MIAX Miami International Holdings | 2.78% | 322,519 | $14.3M | Reduce -7.4% |
| OPLN Openlane Inc. | 2.58% | 446,831 | $13.3M | Reduce -9.7% |
| GLW Corning Inc. | 2.48% | 146,122 | $12.8M | Reduce -40.6% |
| CRS Carpenter Technology | 2.46% | 40,230 | $12.7M | No change |
| MNRO Monro Inc. | 2.35% | 605,000 | $12.1M | Add +195.1% |
| MSM MSC Industrial Direct Co. Class A | 2.28% | 140,000 | $11.8M | Add +250.0% |
| VMC Vulcan Materials Co. | 2.21% | 40,000 | $11.4M | Add +166.7% |
| AZZ Azz Inc. | 2.17% | 104,500 | $11.2M | New |
| PEGA Pegasystems Inc. | 2.09% | 180,000 | $10.7M | Reduce -5.4% |
| CRCL Circle Internet Group Inc. | 2.08% | 135,500 | $10.7M | Add +431.4% |
| ATEC Alphatec Holdings Inc. | 2.04% | 499,328 | $10.5M | Reduce -61.3% |
| CVSA Covista Inc. filed as ADTALEM GLOBAL ED INC | 1.92% | 95,880 | $9.9M | Add +30.2% |
| MTZ Mastec Inc. | 1.87% | 44,257 | $9.6M | No change |
| ODFL Old Dominion Freight Line | 1.83% | 60,112 | $9.4M | Add +49.9% |
| LEVI Levi Strauss & Co. Class A | 1.81% | 450,000 | $9.3M | Reduce -29.7% |
| BLBD Blue Bird Corp. | 1.81% | 198,227 | $9.3M | Add +42.3% |
| AMZN Amazon.com Inc. | 1.79% | 40,000 | $9.2M | No change |
| LENZ Lenz Therapeutics Inc. | 1.77% | 569,705 | $9.1M | New |
| PRIM Primoris Services Corp. | 1.70% | 70,723 | $8.8M | Reduce -22.2% |
| WLY Wiley (john) & Sons Class A | 1.68% | 283,517 | $8.7M | Reduce -36.4% |
| HOOD Robinhood Markets Inc. Class A | 1.67% | 76,240 | $8.6M | Reduce -41.9% |
| GXO Gxo Logistics Inc. | 1.67% | 163,512 | $8.6M | Reduce -23.4% |
| HURN Huron Consulting Group Inc. | 1.67% | 49,777 | $8.6M | Reduce -52.4% |
| THR Thermon Group Holdings Inc. | 1.66% | 230,000 | $8.5M | Add +91.7% |
| CTRI Centuri Holdings Inc. | 1.60% | 327,605 | $8.3M | New |
| OSIS Osi Systems Inc. | 1.54% | 31,158 | $7.9M | Reduce -48.4% |
| WT Wisdomtree Inc. | 1.37% | 580,000 | $7.1M | New |
| CEG Constellation Energy | 1.37% | 20,000 | $7.1M | New |
| KNF Knife River Corp. | 1.36% | 100,000 | $7.0M | New |
| JBHT Hunt (jb) Transprt SVCS Inc. | 1.32% | 35,000 | $6.8M | No change |
| SFIX Stitch Fix Inc. Class A | 1.31% | 1,283,677 | $6.7M | New |
| RSI Rush Street Interactive Inc. | 1.30% | 343,631 | $6.7M | New |
| MOD Modine Manufacturing Co. | 1.30% | 50,000 | $6.7M | New |
| CVCO Cavco Industries Inc. | 1.26% | 11,000 | $6.5M | Add +10.0% |
| CORZ Core Scientific Inc. | 1.26% | 446,176 | $6.5M | Reduce -10.1% |
| BITW Bitwise 10 Crypto Index ETF | 1.20% | 105,432 | $6.2M | New |
| CACI Caci International Inc. Class A | 1.17% | 11,281 | $6.0M | Add +79.6% |
| HEI Heico Corp. | 1.15% | 18,394 | $6.0M | No change |
| CWST Casella Waste Systems Inc. Class A | 1.14% | 60,000 | $5.9M | New |
| MCHP Microchip Technology Inc. | 1.14% | 92,000 | $5.9M | Add +61.4% |
| GVA Granite Construction Inc. | 1.12% | 50,081 | $5.8M | Add +24.9% |
| MSOS Advisorshares Pure US Cann | 1.12% | 1,220,000 | $5.8M | Reduce -12.9% |
| REZI Resideo Technologies Inc. | 1.11% | 162,408 | $5.7M | No change |
| AVGO Broadcom Inc. | 1.01% | 15,000 | $5.2M | Reduce -25.0% |
| CORT Corcept Therapeutics Inc. | 0.93% | 137,947 | $4.8M | Add +23.2% |
| SNPS Synopsys Inc. | 0.91% | 10,000 | $4.7M | No change |
| PRDO Perdoceo Education Corp. | 0.91% | 160,000 | $4.7M | Reduce -39.3% |
| CTOS Custom Truck One Source Inc. | 0.87% | 779,622 | $4.5M | Add +95.1% |
| AMLP Alerian MLP ETF | 0.82% | 90,000 | $4.2M | No change |
| DVN Devon Energy Corp. | 0.80% | 112,804 | $4.1M | No change |
| LPX Louisiana-Pacific Corp. | 0.78% | 50,000 | $4.0M | Reduce -3.3% |
| CEVA Ceva Inc. | 0.71% | 170,533 | $3.7M | Reduce -48.3% |
| APA Apa Corp. | 0.67% | 142,156 | $3.5M | No change |
| FISV Fiserv Inc. | 0.66% | 50,400 | $3.4M | New |
| HZO Marinemax Inc. | 0.47% | 99,510 | $2.4M | No change |
| CRL Charles River Laboratories | 0.39% | 10,000 | $2.0M | New |
| GLOB Globant SA | 0.38% | 30,000 | $2.0M | New |
| GDLC Grayscale Coindesk 5 ETF | 0.37% | 45,567 | $1.9M | No change |
| TWI Titan International Inc. | 0.36% | 239,209 | $1.9M | Reduce -38.7% |
| VPU Vanguard Utilities ETF | 0.36% | 10,000 | $1.9M | No change |
| SKYW Skywest Inc. | 0.29% | 15,000 | $1.5M | New |
| CUBI Customers Bancorp Inc. | 0.28% | 20,000 | $1.5M | New |
| CLSK Cleanspark Inc. | 0.24% | 124,735 | $1.3M | Add +8.7% |
| FIGR Figure Technology Solut Class A | 0.24% | 30,000 | $1.2M | New |
| ETHE Grayscale Ethereum Staking E | 0.24% | 50,000 | $1.2M | No change |
| DBRG Digitalbridge Group Inc. | 0.19% | 65,000 | $997K | Add +62.5% |
| CYRX Cryoport Inc. | 0.19% | 100,000 | $960K | New |
| LEU Centrus Energy Corp. Class A | 0.16% | 3,500 | $850K | New |
| OSUR Orasure Technologies Inc. | 0.16% | 349,064 | $845K | New |
| GLXY Galaxy Digital Inc. Class A | 0.14% | 32,848 | $734K | Reduce -86.5% |
| NOA North American Construction | 0.14% | 50,000 | $719K | New |
| CRC California Resources Corp. | 0.09% | 10,000 | $447K | New |
| SGHC Super Group SGHC Ltd. | 0.07% | 30,000 | $359K | Reduce -92.1% |
| SLNH Soluna Holdings Inc. | 0.06% | 270,000 | $316K | New |
Options reported separately and not counted above: CLS puts ($14.8M), HUT puts ($13.8M), ATEC puts ($5.3M), MTZ puts ($4.3M), IREN puts ($3.8M), CORT calls ($1.7M), MSOS calls ($1.2M), COIN puts ($452K), FRMI calls ($240K).
Portfolio Sells Q3 2025 → Q4 2025
| POWL Powell Industries Inc. | Sold out | 0.00% | −3.04 |
| CSGP Costar Group Inc. | Sold out | 0.00% | −2.87 |
| IREN Iren Ltd. | Sold out | 0.00% | −1.64 |
| AIR Aar Corp. | Sold out | 0.00% | −1.62 |
| LDOS Leidos Holdings Inc. | Sold out | 0.00% | −1.47 |
| SVV Savers Value Village Inc. | Sold out | 0.00% | −1.43 |
| HOOD Robinhood Markets Inc. Class A | Reduce -41.9% | 1.67% | −1.18 |
| GLXY Galaxy Digital Inc. Class A | Reduce -86.5% | 0.14% | −1.10 |
| SFD Smithfield Foods Inc. | Sold out | 0.00% | −1.08 |
| CLS Celestica Inc. | Reduce -49.3% | 3.72% | −1.07 |
| WLY Wiley (john) & Sons Class A | Reduce -36.4% | 1.68% | −1.05 |
| GTM Zoominfo Technologies Inc. | Sold out | 0.00% | −0.91 |
| EZPW Ezcorp Inc. Class A | Sold out | 0.00% | −0.90 |
| FBIN Fortune Brands Innovations I | Sold out | 0.00% | −0.89 |
| EXP Eagle Materials Inc. | Sold out | 0.00% | −0.88 |
| CVLT Commvault Systems Inc. | Sold out | 0.00% | −0.86 |
| ARM Arm Holdings PLC-ADR | Sold out | 0.00% | −0.86 |
| FIVN FIVE9 Inc. | Sold out | 0.00% | −0.83 |
| ATEC Alphatec Holdings Inc. | Reduce -61.3% | 2.04% | −0.81 |
| LRN Stride Inc. | Sold out | 0.00% | −0.79 |
| COIN Coinbase Global Inc. Class A | Sold out | 0.00% | −0.76 |
| OSIS Osi Systems Inc. | Reduce -48.4% | 1.54% | −0.74 |
| BLKB Blackbaud Inc. | Sold out | 0.00% | −0.72 |
| SGHC Super Group SGHC Ltd. | Reduce -92.1% | 0.07% | −0.69 |
| HURN Huron Consulting Group Inc. | Reduce -52.4% | 1.67% | −0.66 |
| ZETA Zeta Global Holdings Corp. Class A | Sold out | 0.00% | −0.65 |
| CRTO Criteo SA-Spon | Sold out | 0.00% | −0.61 |
| CEVA Ceva Inc. | Reduce -48.3% | 0.71% | −0.61 |
| PRDO Perdoceo Education Corp. | Reduce -39.3% | 0.91% | −0.60 |
| OLLI Ollie's Bargain Outlet Holdi | Sold out | 0.00% | −0.58 |
| GLW Corning Inc. | Reduce -40.6% | 2.48% | −0.58 |
| EEFT Euronet Worldwide Inc. | Sold out | 0.00% | −0.53 |
| CNM Core & Main Inc. Class A | Sold out | 0.00% | −0.49 |
| CARS Cars.com Inc. | Sold out | 0.00% | −0.49 |
| UAMY United States Antimony Corp. | Sold out | 0.00% | −0.47 |
| ICLN iShares Global Clean Energy | Sold out | 0.00% | −0.47 |
| STKL Sunopta Inc. | Sold out | 0.00% | −0.46 |
| LEVI Levi Strauss & Co. Class A | Reduce -29.7% | 1.81% | −0.45 |
| HSY The Hershey Co. | Sold out | 0.00% | −0.43 |
| HRI Herc Holdings Inc. | Sold out | 0.00% | −0.35 |
| QNST Quinstreet Inc. | Sold out | 0.00% | −0.35 |
| EVER Everquote Inc. Class A | Sold out | 0.00% | −0.28 |
| HLF Herbalife Ltd. | Sold out | 0.00% | −0.26 |
| PRIM Primoris Services Corp. | Reduce -22.2% | 1.70% | −0.19 |
| HLMN Hillman Solutions Corp. | Sold out | 0.00% | −0.17 |
| DEFT Defi Technologies Inc. | Sold out | 0.00% | −0.11 |
| CWH Camping World Holdings Inc. Class A | Sold out | 0.00% | −0.10 |
| GDEN Golden Entertainment Inc. | Sold out | 0.00% | −0.09 |
| CORZ Core Scientific Inc. | Reduce -10.1% | 1.26% | −0.09 |
| HLLY Holley Inc. | Sold out | 0.00% | −0.09 |
Portfolio Buys Q3 2025 → Q4 2025
| AZZ Azz Inc. | New | 2.17% | +2.17 |
| MNRO Monro Inc. | Add +195.1% | 2.35% | +1.79 |
| LENZ Lenz Therapeutics Inc. | New | 1.77% | +1.77 |
| MSM MSC Industrial Direct Co. Class A | Add +250.0% | 2.28% | +1.72 |
| CTRI Centuri Holdings Inc. | New | 1.60% | +1.60 |
| CRCL Circle Internet Group Inc. | Add +431.4% | 2.08% | +1.57 |
| VMC Vulcan Materials Co. | Add +166.7% | 2.21% | +1.51 |
| WT Wisdomtree Inc. | New | 1.37% | +1.37 |
| CEG Constellation Energy | New | 1.37% | +1.37 |
| KNF Knife River Corp. | New | 1.36% | +1.36 |
| SFIX Stitch Fix Inc. Class A | New | 1.31% | +1.31 |
| RSI Rush Street Interactive Inc. | New | 1.30% | +1.30 |
| MOD Modine Manufacturing Co. | New | 1.30% | +1.30 |
| BITW Bitwise 10 Crypto Index ETF | New | 1.20% | +1.20 |
| THR Thermon Group Holdings Inc. | Add +91.7% | 1.66% | +1.17 |
| CWST Casella Waste Systems Inc. Class A | New | 1.14% | +1.14 |
| ODFL Old Dominion Freight Line | Add +49.9% | 1.83% | +0.97 |
| CACI Caci International Inc. Class A | Add +79.6% | 1.17% | +0.69 |
| FISV Fiserv Inc. | New | 0.66% | +0.66 |
| BLBD Blue Bird Corp. | Add +42.3% | 1.81% | +0.59 |
| MCHP Microchip Technology Inc. | Add +61.4% | 1.14% | +0.58 |
| IRM Iron Mountain Inc. | Add +20.1% | 2.89% | +0.58 |
| CTOS Custom Truck One Source Inc. | Add +95.1% | 0.87% | +0.48 |
| GVA Granite Construction Inc. | Add +24.9% | 1.12% | +0.45 |
| CRL Charles River Laboratories | New | 0.39% | +0.39 |
| GLOB Globant SA | New | 0.38% | +0.38 |
| CVCO Cavco Industries Inc. | Add +10.0% | 1.26% | +0.38 |
| SKYW Skywest Inc. | New | 0.29% | +0.29 |
| CUBI Customers Bancorp Inc. | New | 0.28% | +0.28 |
| FIGR Figure Technology Solut Class A | New | 0.24% | +0.24 |
| CVSA Covista Inc. | Add +30.2% | 1.92% | +0.20 |
| CYRX Cryoport Inc. | New | 0.19% | +0.19 |
| LEU Centrus Energy Corp. Class A | New | 0.16% | +0.16 |
| OSUR Orasure Technologies Inc. | New | 0.16% | +0.16 |
| NOA North American Construction | New | 0.14% | +0.14 |
| DBRG Digitalbridge Group Inc. | Add +62.5% | 0.19% | +0.12 |
| CRC California Resources Corp. | New | 0.09% | +0.09 |
| SLNH Soluna Holdings Inc. | New | 0.06% | +0.06 |
| CLSK Cleanspark Inc. | Add +8.7% | 0.24% | −0.01 |
| CORT Corcept Therapeutics Inc. | Add +23.2% | 0.93% | −0.48 |
Options Activity Q3 2025 → Q4 2025
| CLS Celestica Inc. | put | Reduce -50.0% | 50,000 | $14.8M |
| HUT Hut 8 Corp. | put | New | 300,000 | $13.8M |
| GLW Corning Inc. | put | Sold out | 100,000 | $8.2Mbefore exit |
| LEVI Levi Strauss & Co. Class A | put | Sold out | 228,100 | $5.3Mbefore exit |
| WGMI CS BTC Min Dig PWR ETF | put | Sold out | 120,000 | $5.3Mbefore exit |
| ATEC Alphatec Holdings Inc. | put | Reduce -71.6% | 250,000 | $5.3M |
| MTZ Mastec Inc. | put | New | 20,000 | $4.3M |
| IREN Iren Ltd. | put | New | 100,000 | $3.8M |
| PRIM Primoris Services Corp. | put | Sold out | 20,000 | $2.7Mbefore exit |
| CORT Corcept Therapeutics Inc. | call | New | 50,000 | $1.7M |
| MSOS Advisorshares Pure US Cann | call | New | 250,000 | $1.2M |
| COIN Coinbase Global Inc. Class A | put | New | 2,000 | $452K |
| FRMI Fermi Inc. | call | New | 30,000 | $240K |
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 |