Forager Capital Management portfolio
Concentrated managerInvestment firmPortfolio as of Jun 30, 2026 (Q2 2026) · filed with the SEC on Aug 14, 2026 · data updated on Nov 5, 2026 · Q2 2026 13F (filing) ↗ · all its 13F filings ↗
A 13F shows the portfolio at quarter-end and is filed up to 45 days later: these are not real-time positions and they may have changed.
Forager Capital Management reported a $266M portfolio of 10 positions to the SEC as of the end of Q2 2026. Its largest positions are RPAY, RM, MCFT. During the quarter it opened ICF International and exited Rush Enterprises.
Sections with a free account
What it reported after the quarter end (Q2 2026)
The 13F shows the portfolio as of Jun 30, 2026. Since then Forager Capital Management has filed these own trades with the SEC (Form 4, when it owns more than 10% of a company or holds a role in it) and stakes above 5% (13D and 13G). It is not everything it did: only what it must report before the next 13F.
Form 4 · 29,322 shares · trades from Sep 15 to Sep 17 · filed Sep 17, 2026 · filing ↗
Stake reported in the company · event of Sep 30, 2026 · filed Nov 4, 2026 · filing ↗
Stake reported in the company · event of Sep 1, 2026 · filed Sep 30, 2026 · filing ↗
Stake reported in the company · event of Jun 30, 2026 · filed Aug 6, 2026 · filing ↗
Stake reported in the company · event of Jun 30, 2026 · filed Jul 24, 2026 · filing ↗
Stake reported in the company · event of Jun 30, 2026 · filed Jul 23, 2026 · filing ↗
What changed this quarter
11 positions with a change (1 new, 4 added to, 5 trimmed, 1 sold). 11 are listed here: those of 0.5 points of the portfolio or more (up to 12).
- ICF International+6.5 ppof portfolioNew— → 6.5%
- Hovnanian Enterprises−37%fewer sharesReduced13.0% → 8.0%
- Repay Holdings+20%more sharesIncreased12.0% → 17.5%
- Viemed Healthcare−24%fewer sharesReduced13.0% → 9.2%
- Oportun Financial+34%more sharesIncreased7.7% → 9.7%
- i3 Verticals+49%more sharesIncreased6.4% → 6.9%
- MasterCraft Boat Holdings−9.9%fewer sharesReduced16.5% → 14.1%
- Rush Enterprises−1.2 ppof portfolioSold out1.6% → —
- Regional Management−6.9%fewer sharesReduced16.4% → 14.7%
- MillerKnoll+6.1%more sharesIncreased10.6% → 12.0%
- International Money Express−31%fewer sharesReduced2.9% → 1.4%
The figure on the right: for positions added to or trimmed, the change in the number of shares (%); for new and sold ones, the points of the portfolio moved (pp). Below, the portfolio weight before → after. Traded weight: what it bought or sold, excluding price effects.
Top holdings
- Repay HoldingsRPAY17.5%
- Regional ManagementRM14.7%
- MasterCraft Boat HoldingsMCFT14.1%
- MillerKnollMLKN12.0%
- Oportun FinancialOPRT9.7%
- Viemed HealthcareVMD9.2%
- Hovnanian EnterprisesHOV8.0%
- i3 VerticalsIIIV6.9%
- ICF InternationalICFI6.5%
- International Money ExpressIMXI1.4%
“Since”: first quarter of the current run, unbroken until today. In the details, prices are the quarter-end prices of the quarters in which it added shares, per the 13F. The manager may have bought at any price within each quarter; the SEC only publishes the value at quarter end.
Portfolio by sector
- ● Industrials 25%
- ● Financials 24%
- ● Consumer Discretionary 22%
- ● Materials 12%
- ● Health Care 9%
- ● Information Technology 7%
How its portfolio changed (8 quarters)
Q2 2026: 10
Q2 2026: 100%
Q2 2026: 13.4%
Traded turnover: the weight it bought plus the weight it sold in the quarter, divided by two, excluding price moves. The plain “turnover” in the header does include that effect. With a free account: the full history and sectors over time.
13F filings with amendments or confidential positions
- 13F Q3 2024 ↗filed Nov 14, 2024Amendment of Nov 18, 2024 (replaces the original) ↗
Stakes above 5% (13D/13G)
Companies where this filer reported holding 5% or more of the shares. It is the figure from its latest filing on each one; history since December 2024.
How we classify it
Investment firm, per its Form ADV of Mar 23, 2026 (high confidence).
The data, as reported: FORAGER CAPITAL MANAGEMENT, LLC (CRD 158835): 7.B private funds: 1 hedge, 1 pe (gross assets $353M); 5.D assets by client type: pooled vehicles 100% (of $353M)
The type comes from a rule applied to that data. If it looks wrong, tell us.
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