Intrepid Small Cap Fund - Institutional Class

Under typical market conditions, this fund commits a minimum of 80% of its net assets, alongside any borrowed capital used for investments, to a diverse selection of stocks from companies with small market capitalizations. The advisor defines these small-cap companies as those whose market capitalization does not surpass the upper boundary of the capitalization range of the higher of the Morningstar Small Cap Index or the S&P SmallCap 600® Index, based on their performance over the most recent twelve-month period.