Finding hidden gems takes patience, persistence, and an eye for what others might overlook. That’s true in investing—and in careers.
Donnie Horner’s path to Intrepid Capital wasn’t the straightest or easiest, but each twist added something valuable: military service, nonprofit advocacy, business development, and a deep network of relationships. It took 12 years, but when the opportunity finally came, both Donnie and Intrepid knew they’d found the right fit.
Here’s Donnie’s story:
My Journey to Intrepid spanned 12 years. The first time I interviewed with the firm was right after receiving an MBA from Jacksonville University’s Davis College of Business. I didn’t get the job. Mark Travis, Intrepid’s founder, gave it to me straight: “You don’t have a network and you don’t have experience.” Hard to argue with that.
Over the next decade, I built that experience in revenue-generating roles across different industries—from a startup to a national seafood company to a nonprofit. During that time, I stayed in touch with Mark and others at Intrepid, played golf with them, saw them at community events in and around Jacksonville, and kept the relationship going.
Fast forward 12 years. I was at the gym and bumped into Mark, who mentioned he was looking for someone to fill a business development role. I threw my hat in the ring and, this time, it worked out.
I’m a military kid and a Navy veteran. My dad is a West Point graduate. He served 20 years in the Army and earned degrees from MIT and Stanford, including his PhD. His commitment to service is inspiring, and it was a key driver in my decision to serve in the military.
I thought about going to West Point but ended up choosing Annapolis. The Naval Academy’s campus is stunning, and its location near D.C. was a perfect fit since I planned to major in political science and intern on Capitol Hill. I distinctly remember the moment I knew I wanted to be a midshipman. I was on a campus tour and saw the infamous “Don’t Give Up the Ship” flag displayed in Memorial Hall. Something just clicked. The camaraderie, the academics, the sports—I played club hockey and baseball—all were life-changing experiences.
Then I had another life-changing experience...
I was diagnosed with multiple sclerosis two years into my Navy career. I was serving as a Deck Department 2nd Division Officer aboard the USS Bonhomme Richard when I first noticed something was off—mobility issues, neuropathic pain... symptoms that were hard to explain but impossible to ignore. A few months later, the Mayo Clinic confirmed the MS diagnosis, ultimately leading to my medical retirement from the Navy.
Initially, my plan was to serve five years in the Navy, go to law school, then run for public office. But when I became a Naval Officer and got assigned to my ship, I discovered how much I loved it. The Navy became a bigger part of my identity than I expected. I hadn’t yet decided whether a long-term career in the military was what I wanted, but I’d always expected I’d be the one to make that decision. Suddenly, that choice was no longer mine.
After my diagnosis, I spent a year focusing entirely on my health and transitioning out of the Navy. It was a huge adjustment—I went from being an athlete in peak physical condition to dealing with serious mobility issues. It was incredibly difficult to process.
MS is a complicated disease—it takes many different forms. I’m grateful for the progress we’ve made with treatment; when I was diagnosed, there were only three disease-modifying therapies, and now there are about 15.
My wife and I are currently team captains for the annual MS Walk in our city. I’ve also been a been a board member for the National MS Society’s Northeast Chapter, lobbied on Capitol Hill, and been a keynote speaker at MS events.
Through my involvement, I met someone at a National MS Society event who was the chair of the board at Jacksonville University. He encouraged me to apply to the University’s MBA program. I got in, and that’s how my career took a new direction.
I’m a seventh-generation Central Pennsylvanian, but Jacksonville has been my home longer than anywhere else. It’s a great place to raise a family. My wife Kristen and I are proud parents to our daughter Callie and our labradoodle Ellie, both of whom keep us on our toes.
Plus, Jacksonville is far removed from Wall Street’s influence, making it the perfect place for an investment firm with an independent, and sometimes contrarian, perspective. At Intrepid, we take pride in being part of this community, whether that’s through business events, Jaguars games, or local initiatives.
I’ve built a unique and authentic network over the years, spanning politics, sports, and business. It’s not something I actively set out to do—it just evolved, starting at the Naval Academy and as an intern on Capitol Hill and continuing through my work with the MS Society and in my community.
I thrive on building connections and maintaining relationships, and that ability translates directly into what I do here at Intrepid. I help create opportunities that benefit both our clients and the firm. My job is to listen, understand what clients or prospects need, and ensure they get the answers and information they need.
When I’m not working, I enjoy sports – both watching and doing. I’m a diehard fan of all Naval Academy teams, the Jacksonville Jaguars, and NASCAR. My current sport is running—I’ve completed the Boston Marathon three times. I’m also a voracious reader.
Understand why this popular strategy gained traction during an exceptional period—and why it may falter in the years ahead.