{ "crd_number": 192522, "slug": "intrepid-investment-management-llc-houston-tx-192522", "primary_business_name": "INTREPID INVESTMENT MANAGEMENT, LLC", "legal_name": "INTREPID INVESTMENT MANAGEMENT, LLC", "dbas": [], "city": "Houston", "state": "TX", "country": "United States", "cbsa_code": "26420", "metro": { "cbsa_code": "26420", "common_name": "Houston", "msa_name": "Houston-Pasadena-The Woodlands, TX", "path": "/advisors/tx/houston" }, "registration_type": "sec", "registration_status": "Approved", "registration_date": "2018-07-31", "years_registered": 8, "period": "2026-10-01", "filing_date": "2026-09-29", "carried_forward": false, "raum_total": 335966531.0, "raum_discretionary": 335966531.0, "raum_non_discretionary": 0.0, "raum_band": "100m_500m", "raum_band_label": "$100 million to $500 million", "total_employees": 7, "advisory_employees": 7, "client_count_bucket": null, "clients_by_type": { "investment_companies": { "raum": null, "count": 0 }, "pooled_investment_vehicles": { "raum": 335966531.0, "count": 9 } }, "compensation_types": [ "percentage_of_aum", "performance_based" ], "advisory_activities": [ "portfolio_management_pooled_vehicles" ], "wrap_fee_participant": false, "disclosure_yes_count": 0, "states_registered": [ "TX" ], "websites": [ "https://intrepidim.com" ], "iapd_url": "https://adviserinfo.sec.gov/firm/summary/192522", "city_as_filed": "HOUSTON", "url": "https://advisorcensus.com/firm/intrepid-investment-management-llc-houston-tx-192522", "display_name": "Intrepid Investment Management, LLC", "summary": "Intrepid Investment Management, LLC is an SEC-registered investment advisory firm in Houston, TX, registered since 2018, reporting $100 million to $500 million in regulatory assets under management in its Form ADV filing dated September 29, 2026.", "citation": "AdvisorCensus. Intrepid Investment Management, LLC (CRD 192522): Form ADV filing data as of October 2026.", "registration_type_label": "SEC-registered investment adviser", "compensation_labels": [ "A percentage of assets under your management", "Performance-based fees" ], "advisory_activity_labels": [ "Portfolio management for pooled investment vehicles (other than investment companies)" ], "quick_answers": [ { "q": "How is Intrepid Investment Management, LLC compensated?", "a": "On its Form ADV (Item 5.E, October 2026), Intrepid Investment Management, LLC reports these compensation arrangements: a percentage of assets under its management; performance-based fees." }, { "q": "How much does Intrepid Investment Management, LLC charge?", "a": "Its Form ADV Part 2A brochure dated March 31, 2026 states: Asset-based fee: up to 2% of assets a year (the maximum the brochure states). Fees can differ by service and may be negotiable; the brochure is the complete statement." }, { "q": "Where is Intrepid Investment Management, LLC located?", "a": "Intrepid Investment Management, LLC's principal office is in Houston, TX, according to its Form ADV; the October 2026 filing also lists 1 other office (Schedule D, Section 1.F)." }, { "q": "Is Intrepid Investment Management, LLC registered with the SEC or a state?", "a": "Intrepid Investment Management, LLC is an SEC-registered investment advisory firm, registered since 2018. Status as filed: Approved. CRD 192522." }, { "q": "How much does Intrepid Investment Management, LLC manage?", "a": "Intrepid Investment Management, LLC reports $335,966,531 in regulatory assets under management in its Form ADV filing dated September 29, 2026 (100% discretionary)." }, { "q": "How have Intrepid Investment Management, LLC's assets and staff changed since 2021?", "a": "In the Form ADV data for Intrepid Investment Management, LLC: Regulatory assets under management: $179,160,000 in the October 2021 data and $335,966,531 in the October 2026 data, up 88%. Total employees: 6 in October 2021 and 7 in October 2026. Assets under management move with markets as well as with clients coming and going." }, { "q": "What types of clients does Intrepid Investment Management, LLC serve?", "a": "By number of clients on Form ADV Item 5.D: pooled investment vehicles (other than investment companies and business development companies) (9)." }, { "q": "Does Intrepid Investment Management, LLC report any disciplinary disclosures?", "a": "Reports no disclosure items on Form ADV Item 11. The detail of any item is on the firm's SEC record: https://adviserinfo.sec.gov/firm/summary/192522" }, { "q": "What changed in Intrepid Investment Management, LLC's recent Form ADV filings?", "a": "In the October 2026 filing data: Employees performing advisory functions went from 6 to 7. Updated its list of owners and control persons (Schedule A)." } ], "filing_history": [ { "period": "2021-10-01", "regulatory_assets_under_management": 179160000.0, "total_employees": 6, "filing_date": "2021-04-27" }, { "period": "2022-10-01", "regulatory_assets_under_management": 199865000.0, "total_employees": 6, "filing_date": "2022-03-31" }, { "period": "2023-10-01", "regulatory_assets_under_management": 219865000.0, "total_employees": 6, "filing_date": "2023-03-30" }, { "period": "2024-10-01", "regulatory_assets_under_management": 257390000.0, "total_employees": 6, "filing_date": "2024-03-27" }, { "period": "2025-10-01", "regulatory_assets_under_management": 306715000.0, "total_employees": 7, "filing_date": "2025-03-31" }, { "period": "2026-10-01", "regulatory_assets_under_management": 335966531.0, "total_employees": 7, "filing_date": "2026-09-29" } ], "recent_changes": [ { "period": "2026-10-01", "period_label": "October 2026", "notes": [ "Employees performing advisory functions went from 6 to 7.", "Updated its list of owners and control persons (Schedule A)." ] } ], "fees_from_brochure": { "source": "Form ADV Part 2A brochure dated March 31, 2026", "provided_by_the_firm": false, "tiers": [], "flat_rate": null, "stated_range": null, "stated_maximum": "2% of assets a year", "account_minimum": null, "account_minimum_may_be_waived": false, "minimum_annual_fee": null, "planning_fees": [], "figures": [ { "label": "Asset-based fee", "statements": [ "Asset-based fee: up to 2% of assets a year (the maximum the brochure states)" ], "quotes": [ "In general, the Management Fee payable with respect to each investor will be paid quarterly in advance at a rate of up to 2.0% per annum on such investor’s capital commitment or invested capital, as detailed in each fund’s Governing Documents." ] } ], "values": { "tiers": [], "range_pct": null, "max_pct": 2.0, "account_minimum": null, "minimum_annual_fee": null, "planning": [] }, "quotes": [ "In general, the Management Fee payable with respect to each investor will be paid quarterly in advance at a rate of up to 2.0% per annum on such investor’s capital commitment or invested capital, as detailed in each fund’s Governing Documents." ], "note": "As stated in the firm's brochure; fees can differ by service and may be negotiable." }, "custodians": [], "custodians_note": null, "markdown_url": "https://advisorcensus.com/firm/intrepid-investment-management-llc-houston-tx-192522.md", "clients": [ { "type": "investment_companies", "label": "Investment companies", "count": 0, "fewer_than_5": false, "raum": null }, { "type": "pooled_investment_vehicles", "label": "Pooled investment vehicles (other than investment companies and business development companies)", "count": 9, "fewer_than_5": false, "raum": 335966531.0 } ], "disclosure_line": "Reports no disclosure items on Form ADV Item 11.", "disclosure_items": [], "indexable": true, "suppressed": false, "claimed": false, "enhanced": false, "provided_by_the_firm": null, "source": { "name": "Form ADV", "as_of": "2026-10-01", "iapd_url": "https://adviserinfo.sec.gov/firm/summary/192522", "operator": "BH Monitor Services, LLC", "license": "https://creativecommons.org/licenses/by/4.0/", "credit": "AdvisorCensus (advisorcensus.com), from SEC Form ADV data" } }