Forager Capital Management, LLC
In its 13F for Q4 2024 (holdings as of December 31, 2024, filed February 14, 2025), Forager Capital Management, LLC reported 13 stock positions worth $238.8 million. Its top holding was Regional Management (RM) at 15.5% of the portfolio, followed by Mastercraft Boat (MCFT, 13.6%) and Millerknoll (MLKN, 11.2%). Compared with Q3 2024, it opened 1 new position, sold out of 1, added to 4 and reduced 5. The biggest buy was a new position in I3 Verticals Class A (IIIV) and the biggest sale Willdan (WLDN, shares −45%).
- Most Recent 13F
- Q2 2026
- Location
- BIRMINGHAM, AL
- CIK
- 0001802986
- Portfolio Value
- $238.8M (Q4 2024)
- SEC Filing
- 0001420506-25-000536 ↗ filed Feb 14, 2025
Holdings Value
Holdings 13 stocks · $238.8M
| RM Regional Management Corp. | 15.45% | 1,086,102 | $36.9M | No change |
| MCFT Mastercraft Boat Holdings Inc. | 13.56% | 1,697,695 | $32.4M | No change |
| MLKN Millerknoll Inc. | 11.18% | 1,181,841 | $26.7M | Add +23.9% |
| HOV Hovnanian Enterprises-A | 10.59% | 189,068 | $25.3M | Add +61.6% |
| IMXI International Money Express | 9.95% | 1,141,174 | $23.8M | Reduce -6.5% |
| IIIV I3 Verticals Inc. Class A | 7.38% | 765,000 | $17.6M | New |
| WLDN Willdan Group Inc. | 7.03% | 440,439 | $16.8M | Reduce -45.2% |
| GTX Garrett Motion Inc. | 6.55% | 1,731,095 | $15.6M | No change |
| VMD Viemed Healthcare Inc. | 5.77% | 1,717,498 | $13.8M | Add +0.0% |
| QIPT Quipt Home Medical Corp. | 5.36% | 4,199,562 | $12.8M | Add +0.2% |
| RUSHA Rush Enterprises Inc. Class A | 3.67% | 159,822 | $8.8M | Reduce -64.3% |
| CVGI Commercial Vehicle Group Inc. | 2.01% | 1,937,099 | $4.8M | Reduce -43.6% |
| CCS Century Communities Inc. | 1.50% | 48,811 | $3.6M | Reduce -48.7% |
Portfolio Sells Q3 2024 → Q4 2024
| WLDN Willdan Group Inc. | Reduce -45.2% | 7.03% | −5.91 |
| RUSHA Rush Enterprises Inc. Class A | Reduce -64.3% | 3.67% | −5.64 |
| CVGI Commercial Vehicle Group Inc. | Reduce -43.6% | 2.01% | −2.38 |
| CCS Century Communities Inc. | Reduce -48.7% | 1.50% | −2.36 |
| EML The Eastern Co. | Sold out | 0.00% | −0.21 |
| IMXI International Money Express | Reduce -6.5% | 9.95% | +1.07 |
Portfolio Buys Q3 2024 → Q4 2024
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 |