JACKSONVILLE BEACH, FL — July 24, 2025— The Intrepid Income Fund (ICMUX) has officially surpassed $1 billion in assets under management (AUM) on July 24, 2025, marking a significant milestone in the fund’s history.

How well do you know who’s managing your money?

Finding hidden gems takes patience, persistence, and an eye for what others might overlook. That’s true in investing—and in careers.

As the new year kicks off, bond investors are grappling with the Fed cutting short-term rates just as long-term rates have started to rise again. The two paths are seemingly contradictory, resulting in the “steepening of the curve.” Meanwhile, credit spreads remain near multi-year tight levels.

In what many are calling “a big moment for the economy,” the Fed cut rates yesterday for the first time in four years.

Our founder, Mark Travis, and Chief Investment Officer, Hunter Hayes, were recently featured in Barron's.

The June edition of FA Magazine highlights Intrepid Capital’s Income Fund (ICMUX), which has been a standout performer among bond funds.

Fixed-income investments come in all kinds of wrappers. While traditional bonds are best known and fairly straightforward, other asset types such as convertible bonds, loans, and preferred stocks also offer a stated return over a set period of time. In this blog post, we focus on preferred stock, a...