Forager Capital Management, LLC
In its 13F for Q2 2026 (holdings as of June 30, 2026, filed August 14, 2026), Forager Capital Management, LLC reported 10 stock positions worth $265.9 million. Its top holding was Repay (RPAY) at 17.5% of the portfolio, followed by Regional Management (RM, 14.7%) and Mastercraft Boat (MCFT, 14.1%). Compared with Q1 2026, it opened 1 new position, sold out of 1, added to 4 and reduced 5. The biggest buy was a new position in Icf International (ICFI) and the biggest sale Hovnanian Enterprises-A (HOV, shares −37%).
- Most Recent 13F
- Q2 2026
- Location
- BIRMINGHAM, AL
- CIK
- 0001802986
- Portfolio Value
- $265.9M (Q2 2026)
- SEC Filing
- 0001420506-26-001674 ↗ filed Aug 14, 2026
Holdings Value
Holdings 10 stocks · $265.9M
| RPAY Repay Holdings Corp. | 17.54% | 11,106,548 | $46.6M | Add +20.2% |
| RM Regional Management Corp. | 14.69% | 948,458 | $39.1M | Reduce -7.0% |
| MCFT Mastercraft Boat Holdings Inc. | 14.09% | 1,451,074 | $37.5M | Reduce -9.9% |
| MLKN Millerknoll Inc. | 12.02% | 1,561,841 | $32.0M | Add +6.1% |
| OPRT Oportun Financial Corp. | 9.69% | 4,512,045 | $25.8M | Add +34.2% |
| VMD Viemed Healthcare Inc. | 9.18% | 2,141,184 | $24.4M | Reduce -24.2% |
| HOV Hovnanian Enterprises-A | 8.01% | 149,547 | $21.3M | Reduce -36.7% |
| IIIV I3 Verticals Inc. Class A | 6.94% | 864,574 | $18.5M | Add +49.2% |
| ICFI Icf International Inc. | 6.46% | 235,900 | $17.2M | New |
| IMXI International Money Express | 1.38% | 254,121 | $3.7M | Reduce -30.6% |
Portfolio Sells Q1 2026 → Q2 2026
| HOV Hovnanian Enterprises-A | Reduce -36.7% | 8.01% | −5.04 |
| VMD Viemed Healthcare Inc. | Reduce -24.2% | 9.18% | −3.78 |
| MCFT Mastercraft Boat Holdings Inc. | Reduce -9.9% | 14.09% | −2.36 |
| RM Regional Management Corp. | Reduce -7.0% | 14.69% | −1.67 |
| RUSHA Rush Enterprises Inc. Class A | Sold out | 0.00% | −1.57 |
| IMXI International Money Express | Reduce -30.6% | 1.38% | −1.50 |
Portfolio Buys Q1 2026 → Q2 2026
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 10 | $265.9M | RPAY, RM, MCFT, MLKN, OPRT |
| Q1 2026 | 10 | $200.9M | MCFT, RM, HOV, VMD, RPAY |
| Q4 2025 | 11 | $220.9M | RM, MCFT, MLKN, HOV, VMD |
| Q3 2025 | 11 | $226.7M | RM, MCFT, HOV, MLKN, IIIV |
| Q2 2025 | 11 | $204.5M | MCFT, RM, MLKN, HOV, IMXI |
| Q1 2025 | 11 | $202.1M | MCFT, RM, WLDN, MLKN, HOV |
| Q4 2024 | 13 | $238.8M | RM, MCFT, MLKN, HOV, IMXI |
| Q3 2024Amended | 13 | $254.3M | RM, WLDN, MCFT, HOV, RUSHA |
| Q2 2024 | 14 | $233.5M | WLDN, RM, MCFT, IMXI, MLKN |
| Q1 2024 | 12 | $259.0M | WLDN, MCFT, RM, CCS, IMXI |