Forager Capital Management, LLC

Adviser

CIK

1802986

Location

BIRMINGHAM, AL

Portfolio Value

Small $265,943,249

Diversification

Diversified

Filing Date

Global Rank

#5,596 / 8,819 ▲ 417

Top Industry

Software - Infrastructure 25.9%

Period ended 4 months ago

Filed Aug 14, 2026 · 3mo

19 quarters · since Dec 2021

Regulatory profile

From Form ADV, the SEC filer profile, 13D/13G type codes and N-CEN, never from the name.

Holder type

Adviser

Schedule 13D, Jun 29, 2026

Portfolio style

Measured from the filed 13F common-share book for Jun 30, 2026, never from the firm's own description.

Style

Concentrated

The top 10 positions are 100.0% of the book (60%+)

Turnover

Medium turnover

39.8% over the last four quarters (30% to under 100%)

Horizon

Medium horizon

Value-weighted holding period 11.6 quarters (4 to under 12)

Closest benchmark: the Russell 2000 as of 2026-06-30, active share 99.8%; sector active share 39.5% against the combined 13F book's sector weights.

Over time 19 measured quarters

How the bands are measured

Style bands measure the filed 13F common-share book each closed quarter, tested in this order. Unknown: under $10,000,000 of valued equity or 5 stocks. Index-like (100+ stocks): active share of 20% or less against the closest benchmark, which is the S&P 500, S&P MidCap 400, S&P SmallCap 600, Russell 1000, Russell 2000, Nasdaq-100 or Dow Jones Industrial Average (weighted by an index-tracking fund's reported holdings or the index's constituents nearest the quarter end, over the names resolved to companies, and only when those are 90%+ of its weight) or every 13F filer's combined book, or index series holding 80%+ of the registered fund assets it advises (N-CEN) and equal to 50%+ of its book. Systematic-like: 500+ stocks, 100%+ annual turnover and a top 10 weight of 25% or less. Concentrated: a top 10 weight of 60%+ or 12 or fewer effective positions. Diversified active: none of these. Turnover is the smaller of buys and sells over average equity value, summed over four quarters: low under 30%, high 100%+. Horizon is the value-weighted number of quarters each position has been held: short under 4, long 12+.

Clone Performance

Build a hypothetical price-return history from this filer's public 13F holdings.

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Portfolio Concentration

10 tracked positions · as of Jun 30, 2026 · Δ vs Mar 31, 2026

Top Position

17.5%

+1.2 pts

Top 5

68.0%

−2.2 pts

Top 10

100.0%

0.0 pts

HHI

1,201

Diversified−27

Portfolio Trend

19 quarters · across all stocks

Sector Breakdown

As of Jun 30, 2026

Sector	% Portfolio	Value	Positions
Consumer Cyclical	34.1%	$90,718,984	3
Technology	25.9%	$68,786,849	3
Financial Services	24.4%	$64,840,245	2
Healthcare	9.2%	$24,409,497	1
Industrials	6.5%	$17,187,674	1

Last Quarter's Activity

Export CSV

Jun 30, 2026 vs Mar 31, 2026

Added To

Positions the filer increased

4 positions

Ticker	Company	Δ Shares	Shares	Value
RPAY	Repay Holdings Corp	+1,863,711	11,106,548	$46,647,501
OPRT	Oportun Financial Corp	+1,150,319	4,512,045	$25,763,776
IIIV	i3 Verticals, Inc.	+285,173	864,574	$18,467,300
MLKN	Millerknoll, Inc.	+90,000	1,561,841	$31,955,266
No positions match the current search.

Trimmed

Positions the filer reduced

5 positions

Ticker	Company	Δ Shares	Shares	Value
VMD	Viemed Healthcare, Inc.	−684,687	2,141,184	$24,409,497
MCFT	MasterCraft Boat Holdings, Inc.	−160,203	1,451,074	$37,466,730
IMXI	International Money Express, Inc.	−112,053	254,121	$3,672,048
HOV	Hovnanian Enterprises Inc	−86,768	149,547	$21,296,988
RM	Regional Management Corp.	−70,805	948,458	$39,076,469
No positions match the current search.

New Positions

Positions the filer opened this quarter

1 positions

Ticker	Company	Shares	Value	Open
ICFI	ICF International, Inc.	235,900	$17,187,674
No positions match the current search.

Sold Out

Positions the filer fully exited

1 positions

Ticker	Company	Shares	Value	Open
RUSHA	Rush Enterprises Inc \Tx\	47,822	$4,742,265
No positions match the current search.

Portfolio Positions

Compact Export CSV View 13F filing

10 tracked positions · $265,943,249 total · filing declares 10 positions · $265,943,256 · as of Jun 30, 2026

All sectors Consumer Cyclical Financial Services Healthcare Industrials Technology

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	Held (qtrs)	Est. cost/share	% of Portfolio
RPAY	Repay Holdings Corp Technology	Added	11,106,548	+1,863,711	$46,647,501	+94.1%	3	$3.54	17.54%
RM	Regional Management Corp. Financial Services	Reduced	948,458	-70,805	$39,076,469	+18.9%	19	before history	14.69%
MCFT	MasterCraft Boat Holdings, Inc. Consumer Cyclical	Reduced	1,451,074	-160,203	$37,466,730	+13.4%	19	before history	14.09%
MLKN	Millerknoll, Inc. Consumer Cyclical	Added	1,561,841	+90,000	$31,955,266	+50.1%	19	before history	12.02%
OPRT	Oportun Financial Corp Financial Services	Added	4,512,045	+1,150,319	$25,763,776	+66.2%	4	$5.76	9.69%
VMD	Viemed Healthcare, Inc. Healthcare	Reduced	2,141,184	-684,687	$24,409,497	−6.2%	15	$7.01	9.18%
HOV	Hovnanian Enterprises Inc Consumer Cyclical	Reduced	149,547	-86,768	$21,296,988	−18.7%	9	$148.55	8.01%
IIIV	i3 Verticals, Inc. Technology	Added	864,574	+285,173	$18,467,300	+42.5%	7	$22.58	6.94%
ICFI	ICF International, Inc. Industrials	NEW	235,900	NEW	$17,187,674	NEW	1	$69.06	6.46%
IMXI	International Money Express, Inc. Technology	Reduced	254,121	-112,053	$3,672,048	−36.5%	18	$17.27	1.38%

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.