Institutional Manager · CIK 0001802986
Forager Capital Management, LLC
BIRMINGHAM, AL · File #028-21969
Latest AUM
$220.9M
Positions
11
Top-10 Concentration
97.5%
Filings
10
Portfolio Value Over Time
2024-03
2024-06
2024-09
2024-12
2025-03
2025-06
2025-09
2025-12
Biggest QoQ Changes
Ranked by conviction flow (share change × current price) so mark-to-market moves don't dominate. Price effect column shows how much of the $ change was just the stock moving.
| Action | Issuer | Ticker / CUSIP | Δ Shares | Flow ($) | Price Effect |
|---|---|---|---|---|---|
| NEW | REPAY HLDGS CORP | RPAY | +3,990,726 | +$14.6M | $0 |
| REDUCE | INTERNATIONAL MNY EXPRESS IN | INTR | -357,791 | -$5.5M | +$1.0M |
| REDUCE | I3 VERTICALS INC | IIIV | -115,599 | -$2.9M | -$4.8M |
| EXITED | GARRETT MOTION INC | 366505105 | -166,095 | -$2.3M | $0 |
| ADD | OPORTUN FINL CORP | 68376D104 | +422,412 | +$2.2M | -$1.7M |
| REDUCE | MASTERCRAFT BOAT HLDGS INC | MCFT | -103,857 | -$2.0M | -$4.6M |
| ADD | MILLERKNOLL INC | MLKN | +95,000 | +$1.7M | +$792,094 |
| REDUCE | HOVNANIAN ENTERPRISES INC | HOVVB | -7,042 | -$686,877 | -$7.5M |
| ADD | VIEMED HEALTHCARE INC | VMD | +49,399 | +$367,035 | +$1.8M |
| REDUCE | QUIPT HOME MEDICAL CORP | 74880P104 | 0 | $0 | +$3.9M |
Sector Allocation
Filing History
- 13F HOLDINGS REPORTQ/E Dec 202511 pos · $220.9M
- 13F HOLDINGS REPORTQ/E Sep 202511 pos · $226.7M
- 13F HOLDINGS REPORTQ/E Jun 202511 pos · $204.5M
- 13F HOLDINGS REPORTQ/E Mar 202511 pos · $202.1M
- 13F HOLDINGS REPORTQ/E Dec 202413 pos · $238.8M
- 13F HOLDINGS REPORT (Amended)Q/E Sep 202413 pos · $254.3M
- 13F HOLDINGS REPORTQ/E Sep 202413 pos · $248.0M
- 13F HOLDINGS REPORTQ/E Jun 202414 pos · $233.5M
- 13F HOLDINGS REPORTQ/E Mar 202412 pos · $259.0M
- 13F HOLDINGS REPORTQ/E Dec 202314 pos · $232.9M
Top 11 Holdings — Dec 2025
| # | Issuer | Ticker | Shares | Value | % of Portfolio |
|---|---|---|---|---|---|
| 1 | REGIONAL MGMT CORP | 75902K106 | 1,085,098 | $42.0M | 19.04% |
| 2 | MASTERCRAFT BOAT HLDGS INC | MCFT | 1,699,118 | $32.1M | 14.55% |
| 3 | MILLERKNOLL INC | MLKN | 1,561,841 | $28.6M | 12.93% |
| 4 | HOVNANIAN ENTERPRISES INC | HOVVB | 236,315 | $23.1M | 10.44% |
| 5 | VIEMED HEALTHCARE INC | VMD | 2,785,871 | $20.7M | 9.37% |
| 6 | QUIPT HOME MEDICAL CORP | 74880P104 | 4,199,562 | $14.8M | 6.71% |
| 7 | REPAY HLDGS CORP | RPAY | 3,990,726 | $14.6M | 6.60% |
| 8 | I3 VERTICALS INC | IIIV | 549,401 | $13.8M | 6.27% |
| 9 | RUSH ENTERPRISES INC | RUSHB | 239,822 | $12.9M | 5.86% |
| 10 | OPORTUN FINL CORP | 68376D104 | 2,380,000 | $12.6M | 5.70% |
| 11 | INTERNATIONAL MNY EXPRESS IN | INTR | 366,174 | $5.6M | 2.55% |