Forager Capital Management, LLC
Forager Capital Management, LLC reported 10 US-listed holdings worth $265.9 million in its 13F for the quarter ended 30 June 2026, filed 14 August 2026. Its largest: Repay Hldgs Corp. (17.5%), Regional Mgmt Corp. (14.7%) and Mastercraft Boat Hldgs Inc. (14.1%). Against the quarter before, it opened 1 position, added to 4, trimmed 5 and sold out of 1.
The 10 largest of its 10 positions, each sized by its share of the reported holdings, coloured by the change in shares against Q1 2026.
What the fund reported holding at each quarter's end; hover a bar for the number of positions
What its reported holdings returned
Held through each quarter, the holdings it reported returned +26.6% over the 7 quarters to 30 June 2026, against +30.2% for the S&P 500.
Not the fund's own return: each 13F's holdings are kept unchanged until the next one, so trades inside a quarter, dividends, cash and fees are left out. A rough guide to how its picks have done over time.
What it did on the quarter
Its positions against its 13F for the quarter to 31 March 2026; a change under 0.1% of a position counts as held
Opened 1
- Icf Intl Inc. ICFI$17.2 million
Added to 4
- Repay Hldgs Corp. RPAY+1.9 million shares · +20%
- Oportun Financial Corp. OPRT+1.2 million shares · +34%
- I3 Verticals Inc. IIIV+285,173 shares · +49%
- Millerknoll, Inc. MLKN+90,000 shares · +6%
Trimmed 5
- Hovnanian Enterprises Inc. HOV-86,768 shares · -37%
- Viemed Healthcare Inc. VMD-684,687 shares · -24%
- Mastercraft Boat Hldgs Inc. MCFT-160,203 shares · -10%
- Regional Mgmt Corp. RM-70,805 shares · -7%
- International Mny Express in IMXI-112,053 shares · -31%
Sold out of 1
- Rush Enterprises Inc. \Tx\ RUSHA$3.2 million last quarter
What it holds
| Company | Shares | Value | Of its book | Change in shares |
|---|---|---|---|---|
| Repay Hldgs Corp. RPAY | 11.1M | $46.6 million | 17.54% | +1.9M |
| Regional Mgmt Corp. RM | 948.5K | $39.1 million | 14.69% | -70.8K |
| Mastercraft Boat Hldgs Inc. MCFT | 1.5M | $37.5 million | 14.09% | -160.2K |
| Millerknoll, Inc. MLKN | 1.6M | $32.0 million | 12.02% | +90.0K |
| Oportun Financial Corp. OPRT | 4.5M | $25.8 million | 9.69% | +1.2M |
| Viemed Healthcare Inc. VMD | 2.1M | $24.4 million | 9.18% | -684.7K |
| Hovnanian Enterprises Inc. HOV | 149.5K | $21.3 million | 8.01% | -86.8K |
| I3 Verticals Inc. IIIV | 864.6K | $18.5 million | 6.94% | +285.2K |
| Icf Intl Inc. ICFI | 235.9K | $17.2 million | 6.46% | new |
| International Mny Express in IMXI | 254.1K | $3.7 million | 1.38% | -112.1K |