ICMBX Performance — Intrepid Capital Fund, Investor Class
Data updated: 2026-08-28
ICMBX returned +5.58% year to date and +14.03% over one year to Jun 2026. Annualised returns are +14.05% over 3 years and +6.85% over 5 years. The fund beat its US Multi-Cap Value category average: $100 invested three years ago grew to $148, against $142 for the category, and to $114 over one year, against $112. Volatility over the past three years was 8.53% a year. In the 12 months to Jun 2026 the fund took in a net $18.7M, and assets reached $125.10M.
ICMBX Growth of $100
What $100 invested in Intrepid Capital Fund grew to, compounded from monthly returns reported on SEC Form N-PORT, against the US Multi-Cap Value category average over the same months.
| Period | ICMBX | Category average |
|---|---|---|
| 1 year (Jul 2025 – Jun 2026) | $114 | $112 |
| 3 years (Jul 2023 – Jun 2026) | $148 | $142 |
| 5 years (Jul 2021 – Jun 2026) | $139 | $143 |
| Since data start (Jan 2020 – Jun 2026) | $170 | $176 |
ICMBX Trailing Returns
Total returns to Jun 2026, from SEC N-PORT.
| Period | Total return |
|---|---|
| YTD | +5.58% |
| 1 year | +14.03% |
| 3 years (annualised) | +14.05% |
| 5 years (annualised) | +6.85% |
ICMBX Annual Returns
Calendar-year total returns of Intrepid Capital Fund, compounded from monthly SEC N-PORT returns. Partial years show the months covered.
| Year | Total return |
|---|---|
| 2026 (Jan–Jun) | +5.58% |
| 2025 | +13.44% |
| 2024 | +15.40% |
| 2023 | +14.16% |
| 2022 | −12.43% |
| 2021 | +12.84% |
| 2020 | +9.19% |
ICMBX Monthly Returns
Monthly total returns as reported on SEC Form N-PORT.
| Year | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | +1.2% | +3.1% | −5.1% | +3.6% | +1.3% | +1.5% | — | — | — | — | — | — |
| 2025 | +2.1% | −1.0% | −1.7% | −0.5% | +3.1% | +3.1% | +1.3% | +2.7% | +1.7% | −1.4% | +2.6% | +0.9% |
| 2024 | +1.1% | +1.8% | +3.1% | −3.2% | +3.4% | −0.1% | +2.6% | +1.2% | +0.8% | −0.3% | +7.1% | −2.8% |
| 2023 | +5.7% | −2.5% | +0.7% | −0.8% | −0.5% | +3.7% | +2.4% | −0.4% | −1.1% | −2.4% | +4.5% | +4.3% |
| 2022 | −3.9% | −0.9% | +0.7% | −4.2% | +0.8% | −7.2% | +4.8% | −2.1% | −5.3% | +6.1% | +3.5% | −4.4% |
| 2021 | −2.3% | +6.4% | +1.3% | +4.0% | −0.2% | +2.3% | +1.4% | −1.0% | −3.3% | +3.2% | −3.0% | +3.7% |
| 2020 | −2.5% | −5.6% | −13.2% | +6.4% | +3.8% | +1.6% | +3.4% | +4.7% | −1.8% | −0.9% | +9.5% | +5.4% |
ICMBX Risk
Risk measures from monthly returns over Jul 2023 – Jun 2026.
- 3-year volatility (annualised): 8.53%
- 3-year Sharpe ratio: 1.12 (vs 4.5% risk-free rate)
- Best month: +7.07% (Nov 2024)
- Worst month: −5.06% (Mar 2026)
ICMBX Fund Flows
Monthly money in and out of Intrepid Capital Fund, from SEC Form N-PORT.
- 12-month net flow: $18.7M
- 12-month gross sales (incl. reinvestments): $30.8M
- Sales ÷ redemptions: 2.55×
| Month | Sales | Redemptions | Net flow |
|---|---|---|---|
| Jun 2026 | $8.6M | $497K | $8.1M |
| May 2026 | $1.7M | $750K | $993K |
| Apr 2026 | $2.6M | $605K | $2.0M |
| Mar 2026 | $942K | $2.1M | −$1.1M |
| Feb 2026 | $2.9M | $1.8M | $1.1M |
| Jan 2026 | $4.6M | $705K | $3.9M |
| Dec 2025 | $667K | $623K | $44K |
| Nov 2025 | $1.1M | $694K | $446K |
| Oct 2025 | $1.2M | $1.1M | $75K |
| Sep 2025 | $1.2M | $699K | $492K |
| Aug 2025 | $2.7M | $1.4M | $1.2M |
| Jul 2025 | $2.5M | $1.1M | $1.5M |
ICMBX Assets Under Management
Net assets of Intrepid Capital Fund by report date, from SEC N-PORT filings.
| Report date | Net assets |
|---|---|
| 2026-06-30 | $125.10M |
| 2026-03-31 | $107.24M |
| 2025-12-31 | $105.53M |
| 2025-09-30 | $102.73M |
| 2025-06-30 | $94.37M |
| 2025-03-31 | $83.55M |
| 2024-12-31 | $84.82M |
| 2024-09-30 | $47.22M |
| 2024-06-30 | $45.31M |
| 2024-03-31 | $45.67M |
| 2023-12-31 | $44.78M |
| 2023-09-30 | $42.59M |
For information only. Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date. Past performance does not guarantee future results.