Forager Capital Management
BIRMINGHAM, ALfiles as Forager Capital Management, LLC
$266m in 10 US stocks at the end of 30 June 2026. The top 10 are 100.0% of the money. It changed about 15.9% of the portfolio this quarter.
Value
$266m
Stocks
10
Top 10 share
100.0%
Turnover
15.9%
What changed this quarter
New
Bought for the first time this quarter.
- ICF InternationalICFI6.5% of the fund
Added
Bought more of a stock they already held.
- Repay HoldingsRPAY17.5% of the fund+20%
- MillerknollMLKN12.0% of the fund+6%
- Oportun FinancialOPRT9.7% of the fund+34%
- i3 VerticalsIIIV6.9% of the fund+49%
Cut
Sold some of their stake.
- Regional ManagementRM14.7% of the fund-7%
- MasterCraft Boat HoldingsMCFT14.1% of the fund-10%
- Viemed HealthcareVMD9.2% of the fund-24%
- Hovnanian EnterprisesHOV8.0% of the fund-37%
- International Money ExpressIMXI1.4% of the fund-31%
Sold out
Sold their entire stake.
Holdings
| Company | Share of fund | Value | Shares | Change |
|---|---|---|---|---|
| Repay HoldingsRPAY | 17.5% | $47m | 11,106,548 | +20% |
| Regional ManagementRM | 14.7% | $39m | 948,458 | -7% |
| MasterCraft Boat HoldingsMCFT | 14.1% | $37m | 1,451,074 | -10% |
| MillerknollMLKN | 12.0% | $32m | 1,561,841 | +6% |
| Oportun FinancialOPRT | 9.7% | $26m | 4,512,045 | +34% |
| Viemed HealthcareVMD | 9.2% | $24m | 2,141,184 | -24% |
| Hovnanian EnterprisesHOV | 8.0% | $21m | 149,547 | -37% |
| i3 VerticalsIIIV | 6.9% | $18m | 864,574 | +49% |
| ICF InternationalICFI | 6.5% | $17m | 235,900 | New |
| International Money ExpressIMXI | 1.4% | $4m | 254,121 | -31% |
Over time and by industry
Value over time
Jun '25
Dec '25
Jun '26
Value is up 30.0% since 30 June 2025.
Where the money is
Technology25.9%
Financial services24.4%
Industrials20.6%
Retail & consumer20.0%
Health care9.2%
From the fund's 13F filings. They list US stocks and options only, 45 days after each quarter, and leave out cash, bonds, shorts and foreign shares.