ICMTX — Intrepid Select Fund

Data updated: 2018-12-11

ICMTX — Intrepid Select Fund. Global (incl. US) Value Equity · 1.42% expense ratio. Holdings, fees, performance and SEC filings.

ICMTX Fund Overview

ICMTX — Intrepid Select Fund is a US mutual fund managed by Intrepid Capital Management Funds Trust, categorised as Global (incl. US) Value Equity. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.

ICMTX Investment Objective and Strategy

Intrepid Select Fund describes its objective and strategy as follows, from its latest prospectus filed with the SEC by Intrepid Capital Management Funds Trust.

Investment objective

The Intrepid Select Fund (the Fund) seeks long-term capital appreciation.

Principal investment strategy

Under normal conditions, the Fund invests in equity securities of domestic and foreign companies which the Fund believes are undervalued. Foreign companies, or non-U.S. companies, are companies domiciled or headquartered outside of the U.S., or whose primary business activities or principal trading markets are located outside of the U.S. The Fund believes that an equity security is undervalued if the market value of the outstanding equity security is less than the intrinsic value of the company issuing the equity security. Equity securities in which the Fund may invest include common stocks, preferred stocks, convertible preferred stocks, warrants, options, exchange-traded funds (ETFs) and foreign securities, which include American Depositary Receipts (ADRs) and Global Depositary Receipts (GDRs).

The Fund is non-diversified, which means that it may invest a significant portion of its assets in the securities of a single issuer or small number of issuers. The Fund seeks to invest in equity securities whose future prospects are misunderstood or not fully recognized by the market. The Fund considers the intrinsic value of a company to be the present value of a companys expected future stream of free cash flows discounted by an appropriate discount rate. After estimating the intrinsic value of a company, the Fund adjusts for debt, cash, and other potential capital (such as minority interest) on the companys balance sheet. The Fund then makes buy/sell decisions by comparing a companys market value with its intrinsic value estimates. The Fund seeks to invest in internally financed companies generating cash in excess of their business needs, with predictable revenue streams, and in industries with high barriers to entry.

In determining the presence of these factors, the Funds investment adviser reviews periodic reports filed with the Securities and Exchange Commission as well as industry publications. The Fund may sell its portfolio securities for a variety of reasons, such as to secure gains, limit losses, or redeploy assets into more promising opportunities. In order to respond to adverse market, economic, political or other conditions, the Fund may assume a temporary defensive position that is inconsistent with its investment objective and principal investment strategies and invest, without limitation, in cash or prime quality cash equivalents.

ICMTX Costs and Fees

ICMTX costs about $142 per $10,000 invested per year in fund expenses.

  • Net expense ratio: 1.42%
  • Gross expense ratio: 1.98%
  • Portfolio turnover: 29%
  • Brokerage commissions: 25.43 bps of average net assets (SEC N-CEN)

ICMTX Debt Constituents

No individual debt constituents are reported in Intrepid Select Fund's latest SEC N-PORT filing.

ICMTX Prospectus and SEC Filings

Official Intrepid Select Fund filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.

Related Funds

Other Global (incl. US) Value Equity funds tracked on ABC INVEST:

Data Sources

ABC INVEST compiles this page from public filings made to the U.S. Securities and Exchange Commission (SEC) through EDGAR: portfolio holdings and monthly cashflows from Form N-PORT, expenses and returns from fund prospectuses (Form 485BPOS) and the SEC DERA Risk/Return Summary data sets, annual data from Form N-CEN, and shareholder reports from Form N-CSR.