# EDGAR Filing Document

**Accession Number:** 0001300746
**File Stem:** 0001145549-23-013438
**Filing Date:** 2023-2
**Character Count:** 14960
**Document Hash:** a9a050dc5072267d8dab57aa8dbfe398
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001145549-23-013438.hdr.sgml**: 20230228

**ACCESSION NUMBER**: 0001145549-23-013438

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20221231

**FILED AS OF DATE**: 20230228

**DATE AS OF CHANGE**: 20230228

**PERIOD START**: 20230930

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Intrepid Capital Management Funds Trust
- **CENTRAL INDEX KEY:** 0001300746
- **IRS NUMBER:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0930

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-21625
- **FILM NUMBER:** 23682870

**BUSINESS ADDRESS:**
- **STREET 1:** 1400 MARSH LANDING PKWY, SUITE 106
- **CITY:** JACKSONVILLE BEACH
- **STATE:** FL
- **ZIP:** 32250
- **BUSINESS PHONE:** 904-246-3433

**MAIL ADDRESS:**
- **STREET 1:** 1400 MARSH LANDING PKWY, SUITE 106
- **CITY:** JACKSONVILLE BEACH
- **STATE:** FL
- **ZIP:** 32250

## Series and Classes Contracts Data

### Intrepid Small Cap Fund (Series ID: S000000842)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000002457 | Investor Class      | ICMAX           |
| C000081152 | Institutional Class | ICMZX           |

## Nport-Ex

---

| | | | |
|:---|:---|:---|:---|
| **Schedule of Investments** | **Schedule of Investments** | **Schedule of Investments** | **Schedule of Investments** |
| **December 31, 2022 (Unaudited)** | **December 31, 2022 (Unaudited)** | **December 31, 2022 (Unaudited)** | **December 31, 2022 (Unaudited)** |
| **Intrepid Small Cap Fund** | **Intrepid Small Cap Fund** | **Intrepid Small Cap Fund** | **Intrepid Small Cap Fund** |
| | | **Shares** | **Value** |
| **COMMON STOCKS - 83.16%** | **COMMON STOCKS - 83.16%** |  | |
| **Banks - 1.20%** | **Banks - 1.20%** |  | |
| Hilltop Holdings, Inc. | Hilltop Holdings, Inc. | 21633 | $649206 |
| **Capital Goods - 7.88%** | **Capital Goods - 7.88%** |  |  |
| Acuity Brands, Inc. | Acuity Brands, Inc. | 9677 | 1602608 |
| Helios Technologies, Inc. | Helios Technologies, Inc. | 10230 | 556921 |
| Park Aerospace Corp. | Park Aerospace Corp. | 157694 | 2114677 |
|  |  |  | 4274206 |
| **Commercial & Professional Services - 5.10%** | **Commercial & Professional Services - 5.10%** |  |  |
| Franklin Covey Co. (a) | Franklin Covey Co. (a) | 59102 | 2764200 |
| **Consumer Durables & Apparel - 11.89%** | **Consumer Durables & Apparel - 11.89%** |  |  |
| Carter's, Inc. | Carter's, Inc. | 23820 | 1777210 |
| LGI Homes, Inc. (a) | LGI Homes, Inc. (a) | 21655 | 2005253 |
| Skechers U.S.A., Inc. - Class A (a) | Skechers U.S.A., Inc. - Class A (a) | 63545 | 2665713 |
|  |  |  | 6448176 |
| **Diversified Financials - 7.12%** | **Diversified Financials - 7.12%** |  |  |
| Cboe Global Markets, Inc. | Cboe Global Markets, Inc. | 11649 | 1461600 |
| Jefferies Financial Group, Inc. | Jefferies Financial Group, Inc. | 69923 | 2396961 |
|  |  |  | 3858561 |
| **Energy - 6.61%** | **Energy - 6.61%** |  |  |
| Civitas Resources, Inc. | Civitas Resources, Inc. | 61862 | 3583666 |
| **Food, Beverage & Tobacco - 5.74%** | **Food, Beverage & Tobacco - 5.74%** |  |  |
| Becle SAB de CV (b) | Becle SAB de CV (b) | 1426249 | 3114305 |
| **Materials - 3.93%** | **Materials - 3.93%** |  |  |
| Valvoline, Inc. | Valvoline, Inc. | 65179 | 2128094 |
| **Media & Entertainment - 2.19%** | **Media & Entertainment - 2.19%** |  |  |
| IAC, Inc. (a) | IAC, Inc. (a) | 26681 | 1184636 |
| **Real Estate - 4.32%** | **Real Estate - 4.32%** |  |  |
| FRP Holdings, Inc. (a) | FRP Holdings, Inc. (a) | 43516 | 2343772 |
| **Software & Services - 15.71%** | **Software & Services - 15.71%** |  |  |
| Conduent, Inc. (a) | Conduent, Inc. (a) | 391528 | 1585688 |
| Dropbox, Inc. - Class A (a) | Dropbox, Inc. - Class A (a) | 125109 | 2799940 |
| Pagseguro Digital Ltd. - Class A (a)(b) | Pagseguro Digital Ltd. - Class A (a)(b) | 123482 | 1079233 |
| WNS Holdings Ltd. - ADR (a)(b) | WNS Holdings Ltd. - ADR (a)(b) | 38172 | 3053378 |
|  |  |  | 8518239 |
| **Technology Hardware & Equipment - 11.47%** | **Technology Hardware & Equipment - 11.47%** |  |  |
| Fabrinet (a)(b) | Fabrinet (a)(b) | 23170 | 2970857 |
| Silicom Ltd. (a)(b) | Silicom Ltd. (a)(b) | 77127 | 3250903 |
|  |  |  | 6221760 |
| TOTAL COMMON STOCKS (Cost $37,283,385) | TOTAL COMMON STOCKS (Cost $37,283,385) |  | 45088821 |
| **EXCHANGE-TRADED FUND - 3.52%** | **EXCHANGE-TRADED FUND - 3.52%** |  |  |
| **Diversified Financials - 3.52%** | **Diversified Financials - 3.52%** |  |  |
| IShares Gold Trust (a) | IShares Gold Trust (a) | 55158 | 1907915 |
| TOTAL EXCHANGE-TRADED FUND (Cost $1,411,681) | TOTAL EXCHANGE-TRADED FUND (Cost $1,411,681) |  | 1907915 |
| **Total Investments (Cost $38,695,066) - 86.68%** | **Total Investments (Cost $38,695,066) - 86.68%** |  | **46996736** |
| **Other Assets in Excess of Liabilities - 13.32%** | **Other Assets in Excess of Liabilities - 13.32%** |  | **7224479** |
| **TOTAL NET ASSETS - 100.00%** | **TOTAL NET ASSETS - 100.00%** |  | **54221215** |
| ADR - American Depositary Receipt | ADR - American Depositary Receipt | ADR - American Depositary Receipt | ADR - American Depositary Receipt |
| Percentages are stated as a percent of net assets. | Percentages are stated as a percent of net assets. | Percentages are stated as a percent of net assets. | Percentages are stated as a percent of net assets. |
| (a) | Non-income producing security. |  |  |
| (b) | Foreign Issued Security. |  |  |

---

## Form NPORT-P: Monthly Portfolio Investments Report

### NPORT-P: Part A: General Information

**Item A.1. Information about the Registrant.**

- **a. Name of Registrant:** Intrepid Capital Management Funds Trust

- **b. Investment Company Act file number:** 811-21625

- **c. CIK number of Registrant:** 0001300746

- **d. LEI of Registrant:** 549300SDGJ1WLXS2N321

- **e. Address and telephone number of Registrant.**

  - **Street Address 1:** 1400 Marsh Landing Parkway

  - **City:** Jacksonville Beach

  - **State:** FL

  - **Foreign country:** US

  - **Zip / Postal Code:** 32250

  - **Telephone number:** 904-246-3433

**Item A.2. Information about the Series.**

- **a. Name of Series:** Intrepid Small Cap Fund

- **b. EDGAR series identifier (if any):** S000000842

- **c. LEI of Series:** 549300TGYSGQWZMLNV76

**Item A.3. Reporting period.**

- **a. Date of fiscal year-end:** 2023-09-30

- **b. Date as of which information is reported:** 2022-12-31

**Item A.4. Final filing**

Does the Fund anticipate that this will be its final filing on Form N-PORT? **No**

### Fund Information

**Total Assets:** $54303327.82

**Total Liabilities:** $66541.06

**Net Assets:** $54236786.76

**Cash Not Reported:** $7176700.58

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000002457 | 9.74%                | 4.57%                | -5.68%               |
| Class ID C000081152 | 9.71%                | 4.62%                | -5.68%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-1160803.14             | $6350471.26                                |
| Month 2  | $295324.84               | $2320842.01                                |
| Month 3  | $-812574.63              | $-2603450.29                               |

### Schedule of Portfolio Investments

| Name                          | Title                         | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| IAC Inc                       | IAC Inc                       | CUSIP: 44891N208<br>LEI: 549300TO56L57RP6P031 | Long             | EC               | CORP              | US        |     26681 | NS      | $1184636.40   | 2.18%             |  |  |  | No            |                  1 | On Loan: No      |
| iShares Gold Trust            | iShares Gold Trust            | CUSIP: 464285204<br>LEI: 5493006UOY7GXQW0IP42 | Long             | EC               | RF                | US        |     55158 | NS      | $1907915.22   | 3.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Jefferies Financial Group Inc | Jefferies Financial Group Inc | CUSIP: 47233W109<br>LEI: 549300HOF34RGOJ5YL07 | Long             | EC               | CORP              | US        |     69923 | NS      | $2396960.44   | 4.42%             |  |  |  | No            |                  1 | On Loan: No      |
| LGI Homes Inc                 | LGI Homes Inc                 | CUSIP: 50187T106<br>LEI: 549300W02B4WNV8CV109 | Long             | EC               | CORP              | US        |     21655 | NS      | $2005253.00   | 3.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Park Aerospace Corp           | Park Aerospace Corp           | CUSIP: 70014A104<br>LEI: 5299004AG0G7IB636095 | Long             | EC               | CORP              | US        |    157694 | NS      | $2114676.54   | 3.90%             |  |  |  | No            |                  1 | On Loan: No      |
| Skechers USA Inc              | Skechers USA Inc              | CUSIP: 830566105<br>LEI: 529900D2R54KZPA4XR56 | Long             | EC               | CORP              | US        |     63545 | NS      | $2665712.75   | 4.91%             |  |  |  | No            |                  1 | On Loan: No      |
| Valvoline Inc                 | Valvoline Inc                 | CUSIP: 92047W101<br>LEI: 549300CMHPBEY6VPOT75 | Long             | EC               | CORP              | US        |     65179 | NS      | $2128094.35   | 3.92%             |  |  |  | No            |                  1 | On Loan: No      |
| WNS Holdings Ltd              | WNS Holdings Ltd              | CUSIP: 92932M101<br>LEI: 529900RM7QHUD3W9DM42 | Long             | EC               | CORP              | IN        |     38172 | NS      | $3053378.28   | 5.63%             |  |  |  | No            |                  1 | On Loan: No      |
| Becle SAB de CV               | Becle SAB de CV               | CUSIP: N/A<br>LEI: 529900JY55CZKMJLCE09       | Long             | EC               | CORP              | MX        |   1426249 | NS      | $3114304.52   | 5.74%             |  |  |  | No            |                  1 | On Loan: No      |
| Fabrinet                      | Fabrinet                      | CUSIP: N/A<br>LEI: 5493004TETZ6IYF7CV44       | Long             | EC               | CORP              | TH        |     23170 | NS      | $2970857.40   | 5.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Pagseguro Digital Ltd         | Pagseguro Digital Ltd         | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | BR        |    123482 | NS      | $1079232.68   | 1.99%             |  |  |  | No            |                  1 | On Loan: No      |
| Silicom Ltd                   | Silicom Ltd                   | CUSIP: N/A<br>LEI: 529900711TW6GY85XW07       | Long             | EC               | CORP              | IL        |     77127 | NS      | $3250903.05   | 5.99%             |  |  |  | No            |                  1 | On Loan: No      |
| Acuity Brands Inc             | Acuity Brands Inc             | CUSIP: 00508Y102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      9677 | NS      | $1602607.97   | 2.95%             |  |  |  | No            |                  1 | On Loan: No      |
| Cboe Global Markets Inc       | Cboe Global Markets Inc       | CUSIP: 12503M108<br>LEI: 529900RLNSGA90UPEH54 | Long             | EC               | CORP              | US        |     11649 | NS      | $1461600.03   | 2.69%             |  |  |  | No            |                  1 | On Loan: No      |
| Carter's Inc                  | Carter's Inc                  | CUSIP: 146229109<br>LEI: 5299003WAQK4R3L3ZU36 | Long             | EC               | CORP              | US        |     23820 | NS      | $1777210.20   | 3.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Civitas Resources Inc         | Civitas Resources Inc         | CUSIP: 17888H103<br>LEI: IIVIHPH28S64K95M2381 | Long             | EC               | CORP              | US        |     61862 | NS      | $3583665.66   | 6.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Conduent Inc                  | Conduent Inc                  | CUSIP: 206787103<br>LEI: 549300SFJ2D2CYY6CQ11 | Long             | EC               | CORP              | US        |    391528 | NS      | $1585688.40   | 2.92%             |  |  |  | No            |                  1 | On Loan: No      |
| Dropbox Inc                   | Dropbox Inc                   | CUSIP: 26210C104<br>LEI: 549300JCDF7UAR6TJR51 | Long             | EC               | CORP              | US        |    125109 | NS      | $2799939.42   | 5.16%             |  |  |  | No            |                  1 | On Loan: No      |
| FRP Holdings Inc              | FRP Holdings Inc              | CUSIP: 30292L107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     43516 | NS      | $2343771.76   | 4.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Franklin Covey Co             | Franklin Covey Co             | CUSIP: 353469109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     59102 | NS      | $2764200.54   | 5.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Helios Technologies Inc       | Helios Technologies Inc       | CUSIP: 42328H109<br>LEI: 5493000BCJSMIDRNTI78 | Long             | EC               | CORP              | US        |     10230 | NS      | $556921.20    | 1.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Hilltop Holdings Inc          | Hilltop Holdings Inc          | CUSIP: 432748101<br>LEI: 54930010TA543US0PM65 | Long             | EC               | CORP              | US        |     21633 | NS      | $649206.33    | 1.20%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2023-02-27

**Name of Applicant:** Intrepid Capital Management Funds Trust

**Signature:** /s/ Don White

**Name of Signer:** Intrepid Capital Management Funds Trust

**Title:** Secretary/Treasurer