Forager Capital Management, LLC

CIK

1802986

Location

BIRMINGHAM, AL

Portfolio Value

Small $200,868,708

Diversification

Diversified

Filing Date

Global Rank

#4,187 / 8,622 ▲ 72 · as of Mar 2026

Top Industry

Credit Services 24.1%

3Y Alpha vs SPY

-4.5%

Period ended 4 months ago

Filed May 15, 2026 · 2mo

18 quarters · since Dec 2021

Clone Performance

Jul 2023–Jul 2026 · vs SPY

Hypothetical growth of buying every stock this filer reported holding, rebalancing on each filing and indexed to the same start. Option positions cannot be bought this way and are left out.

Cloned portfolio

+49.5%

SPY

+67.9%

Annualised alpha

-4.5%

Max drawdown

−30.4%

Estimate. 13F holdings are quarter-lagged, so the clone rebalances about 45 days after each period end — when the filing becomes public — and it excludes option and short positions. It tracks 100% of reported value on average across 13 quarters. Past performance does not predict future results.

Portfolio Concentration

10 tracked positions · as of Mar 31, 2026 · Δ vs Dec 31, 2025

Top Position

16.5%

−4.0 pts

Top 5

70.8%

−0.3 pts

Top 10

100.0%

0.0 pts

HHI

1,244

Diversified−13

Portfolio Trend

18 quarters · across all stocks

Sector Breakdown

As of Mar 31, 2026

Sector	% Portfolio	Value	Positions
Consumer Cyclical	41.7%	$83,701,319	4
Financial Services	24.1%	$48,368,787	2
Technology	21.3%	$42,772,331	3
Healthcare	13.0%	$26,026,271	1

Last Quarter's Activity

Export CSV

Mar 31, 2026 vs Dec 31, 2025

Added To

Positions the filer increased

4 positions

Ticker	Company	Δ Shares	Shares	Value
RPAY	Repay Holdings Corp	+5,252,111	9,242,837	$24,031,376
OPRT	Oportun Financial Corp	+981,726	3,361,726	$15,497,556
VMD	Viemed Healthcare, Inc.	+40,000	2,825,871	$26,026,271
IIIV	i3 Verticals, Inc.	+30,000	579,401	$12,955,406
No positions match the current search.

Trimmed

Positions the filer reduced

4 positions

Ticker	Company	Δ Shares	Shares	Value
RUSHA	Rush Enterprises Inc Tx	−192,000	47,822	$3,161,512
MLKN	Millerknoll, Inc.	−90,000	1,471,841	$21,282,820
MCFT	MasterCraft Boat Holdings, Inc.	−87,841	1,611,277	$33,047,291
RM	Regional Management Corp.	−65,835	1,019,263	$32,871,231
No positions match the current search.

New Positions

Positions the filer opened this quarter

No qualifying positions this quarter.

Sold Out

Positions the filer fully exited

No qualifying positions this quarter.

Portfolio Positions

Compact Export CSV View 13F filing

10 tracked positions · $200,868,708 total · filing declares 10 positions · $200,868,713 · as of Mar 31, 2026

All sectors Consumer Cyclical Financial Services Healthcare Technology

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	% of Portfolio
MCFT	MasterCraft Boat Holdings, Inc. Consumer Cyclical	Reduced	1,611,277	-87,841	$33,047,291	+2.9%	16.45%
RM	Regional Management Corp. Financial Services	Reduced	1,019,263	-65,835	$32,871,231	−21.8%	16.36%
HOV	Hovnanian Enterprises Inc Consumer Cyclical	Held	236,315	0	$26,209,696	+13.7%	13.05%
VMD	Viemed Healthcare, Inc. Healthcare	Added	2,825,871	+40,000	$26,026,271	+25.7%	12.96%
RPAY	Repay Holdings Corp Technology	Added	9,242,837	+5,252,111	$24,031,376	+65.0%	11.96%
MLKN	Millerknoll, Inc. Consumer Cyclical	Reduced	1,471,841	-90,000	$21,282,820	−25.5%	10.60%
OPRT	Oportun Financial Corp Financial Services	Added	3,361,726	+981,726	$15,497,556	+23.1%	7.72%
IIIV	i3 Verticals, Inc. Technology	Added	579,401	+30,000	$12,955,406	−6.4%	6.45%
IMXI	International Money Express, Inc. Technology	Held	366,174	0	$5,785,549	+2.9%	2.88%
RUSHA	Rush Enterprises Inc Tx Consumer Cyclical	Reduced	47,822	-192,000	$3,161,512	−75.6%	1.57%

Covers the securities this platform tracks: U.S.-listed common stock and the put/call positions reported on it. A 13F can also report security types outside that coverage — preferred shares, bonds, warrants, untracked share classes — so the filing's own declared total can exceed the figures above. The source filing is linked at the top of this table.