FC
Forager Capital Management, LLC — 13F Portfolio Changes & Top Buys (Q2 2026)
Forager Capital Management, LLCCIK: 0001802986
Momentum followerQuality / disciplined sizing
Total reported value
$265.9M
Reporting period: 2026-06-30 · Number of holdings: 10
Forager Capital Management, LLC disclosed 10 holdings in its latest 13F filing for the period ending 2026-06-30, with total reported value of $265.9M and a quarterly turnover rate of 38.0%.
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Personality snowflake
- Concentration
- 48.02
- Portfolio Stability
- 38
- Momentum
- 100
- Sector conviction
- 0
- Diversification
- 20
- Sizing Uniformity
- 95.28
Sector classification currently covers about 0% of this portfolio's disclosed value; the remainder includes holdings (e.g. unmapped tickers, options, or other security types) not yet covered by our sector mapping.
Source and citation information
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Recent moves
View source Form 13F filing on SEC.govNew buy ICFI
Add RPAY
+20.2% $22.6M
Trim HOV
-36.7% -$4.9M
Trim VMD
-24.2% -$1.6M
Trim MCFT
-9.9% $4.4M
Add OPRT
+34.2% $10.3M
Holdings Map
New buyAddUnchangedTrim
Top 10 holdings by weight
Full holdings list this quarter
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | RPAY | Repay Holdings CORP | Stock-Other | 17.54% | +5.58% | +20.16% | |
| 2 | RM | Regional Management CORP | Stock-Other | 14.69% | -1.67% | -6.95% | |
| 3 | MCFT | Mastercraft Boat Holdings In | Stock-Other | 14.09% | -2.36% | -9.94% | |
| 4 | MLKN | Millerknoll Inc | Stock-Other | 12.02% | +1.42% | +6.11% | |
| 5 | OPRT | Oportun Financial CORP | Stock-Other | 9.69% | +1.97% | +34.22% | |
| 6 | VMD | Viemed Healthcare Inc | Stock-Other | 9.18% | -3.78% | -24.23% | |
| 7 | HOV | Hovnanian Enterprises-a | Stock-Other | 8.01% | -5.04% | -36.72% | |
| 8 | IIIV | I3 Verticals Inc-class A | Stock-Other | 6.94% | +0.49% | +49.22% | |
| 9 | ICFI | Icf International Inc | Stock-Other | 6.46% | +6.46% | NEW | |
| 10 | IMXI | International Money Express | Stock-Other | 1.38% | -1.50% | -30.60% |
💡
Data Source Notice: AlphaSMO is the web's most authoritative 13F / Inside Trader database. Institutional holdings and insider trades presented here are precisely computed to deliver accurate portfolio reporting.
Portfolio Performance
Performance for Q3 2026
+5.4%
Performance Last 4 Quarters
+3.6%
- Stdev
- +27.8%
- Beta
- +1.06
- Alpha
- -5.8%
- Max Drawdown
- -21.7%
- Annualized Perf
- +12.4%
- Batting Avg vs S&P
- +30.6%
- Sortino
- +1.11
- Stutzer
- +0.17
- Treynor
- +0.15
- Sterling
- +0.53
- Calmar
- +0.57
- Information Ratio
- -0.19
- Tracking Error
- +24.2%
- Stdev Down
- +13.9%
- Winning Months %
- +44.4%
- Losing Months %
- +55.6%
- Best 12 Months
- +50.9%
- Worst 12 Months
- -17.3%
- Efficiency Ratio
- +0.19
- Sharpe
- +0.55
- Stdev Sectors
- —
- Skewness
- +0.74
- Kurtosis
- -0.34
- Upside Potential
- +3.29
Reported value over time
Sector allocation
Not enough sector-mapped data yet
Sector allocation over time
Quarterly history
| Period | Holdings | Total value | Stability | Top holdings | |
|---|---|---|---|---|---|
| 2026 Q2 | 10 | $265.9M | 38 | ||
| 2026 Q1 | 10 | $200.9M | 30 | ||
| 2025 Q4 | 11 | $220.9M | 24 | ||
| 2025 Q3 | 11 | $226.7M | 47 | ||
| 2025 Q2 | 11 | $204.5M | 0 | ||
| 2025 Q1 | 11 | $202.1M | 0 | ||
| 2024 Q4 | 13 | $238.8M | 0 | ||
| 2024 Q3 | 13 | $254.3M | 0 | ||
| 2024 Q2 | 14 | $233.5M | 0 | ||
| 2024 Q1 | 12 | $259.0M | 0 | ||
| 2023 Q4 | 13 | $244.7M | 0 | ||
| 2023 Q3 | 14 | $232.9M | 0 | ||
| 2023 Q2 | 13 | $299.9M | 0 | ||
| 2023 Q1 | 13 | $271.3M | 0 | ||
| 2022 Q4 | 13 | $234.7M | 0 | ||
| 2022 Q3 | 13 | $160.6M | 0 | ||
| 2022 Q2 | 14 | $209.3M | 0 | ||
| 2022 Q1 | 14 | $217.7M | 0 | ||
| 2021 Q4 | 13 | $205.9M | 0 |
Holding changes this quarter
Forager Capital Management, LLC's most significant position changes for 2026-06-30: New buy: Icf International Inc (ICFI); Sold out: Rush Enterprises Inc-cl A (RUSHA); Add: Repay Holdings CORP (RPAY) — shares +20.16%; Trim: Hovnanian Enterprises-a (HOV) — shares -36.72%; Trim: Viemed Healthcare Inc (VMD) — shares -24.23%.
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | ICFI | Icf International Inc | +6.5% | NEW | New buy |
| 2 | RPAY | Repay Holdings CORP | +5.6% | +20.16% | Add |
| 3 | OPRT | Oportun Financial CORP | +2% | +34.22% | Add |
| 4 | MLKN | Millerknoll Inc | +1.4% | +6.11% | Add |
| 5 | IIIV | I3 Verticals Inc-class A | +0.5% | +49.22% | Add |
| 6 | IMXI | International Money Express | -1.5% | -30.60% | Trim |
| 7 | RUSHA | Rush Enterprises Inc-cl A | -1.6% | EXIT | Sold out |
| 8 | RM | Regional Management CORP | -1.7% | -6.95% | Trim |
| 9 | MCFT | Mastercraft Boat Holdings In | -2.4% | -9.94% | Trim |
| 10 | VMD | Viemed Healthcare Inc | -3.8% | -24.23% | Trim |
| 11 | HOV | Hovnanian Enterprises-a | -5% | -36.72% | Trim |
Filing History
FAQ
What is Forager Capital Management, LLC and what type of investor is it?
Forager Capital Management, LLC is an investment manager that files SEC Form 13F quarterly, disclosing its U.S. public equity holdings to regulators. As of the most recent reporting period (2026-06-30), the firm manages a tracked equity portfolio valued at approximately $265.9M, spread across 10 disclosed positions.
What are Forager Capital Management, LLC's largest equity positions?
Based on the latest 13F filing, Forager Capital Management, LLC's top holdings by market value are:
1. Repay Holdings CORP (RPAY) — $46.6M (17.5%)
2. Regional Management CORP (RM) — $39.1M (14.7%)
3. Mastercraft Boat Holdings In (MCFT) — $37.5M (14.1%)
4. Millerknoll Inc (MLKN) — $32.0M (12.0%)
5. Oportun Financial CORP (OPRT) — $25.8M (9.7%)
What changes did Forager Capital Management, LLC make in its most recent portfolio filing?
In the latest reported quarter, Forager Capital Management, LLC made 11 notable position adjustments: 1 new positions were initiated, 4 existing holdings were added to, 5 positions were partially reduced, and 1 were completely exited. The largest of these moves: New buy: Icf International Inc (ICFI); Sold out: Rush Enterprises Inc-cl A (RUSHA); Add: Repay Holdings CORP (RPAY) — shares +20.16%; Trim: Hovnanian Enterprises-a (HOV) — shares -36.72%; Trim: Viemed Healthcare Inc (VMD) — shares -24.23%
What sectors does Forager Capital Management, LLC focus on?
Sector breakdown data is not yet available for Forager Capital Management, LLC. Check back after the next 13F processing cycle.
Investment Profile
Forager Capital Management, LLC returned an annualized 12.4% over the trailing 36 months — underperforming the S&P 500 by 5.8 points — based on a reconstructed track record of its disclosed 13F positions, with a beta of 1.06 (roughly in line with the market) and a 31% quarterly batting average against the index.
Its portfolio is moderately concentrated and moderately active.
Its turnover score has risen from 0 to 38 over the past 4 quarters — a shift toward more active trading.
It has added to its RPAY position for two straight quarters, increasing it by $32.1M to reach $46.6M.
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Developer Access
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