Forager Capital Management, LLC

Sector-focusedMomentum followerQuality / disciplined sizing

Total reported value

$200.9M

Reporting period: 2026-03-31 · Number of holdings: 10

Forager Capital Management, LLC disclosed 10 holdings in its latest 13F filing for the period ending 2026-03-31, with total reported value of $200.9M and a quarterly turnover rate of 30.3%.

Personality snowflake

Concentration: 49.76
Portfolio Stability: 30.29
Momentum/Contrarian: 100
Sector conviction: 100
Diversification: 20
Sizing Uniformity: 94.79

Recent moves

Add RPAY
+131.6%　$9.5M
Trim RUSHA
-80.1%　-$9.8M
Add VMD
+1.4%　$5.3M
Trim RM
-6.1%　-$9.2M
Add HOV
0.0%　$3.2M
Trim MLKN
-5.8%　-$7.3M

Holdings Map

New buyAddUnchangedTrim

Top 10 holdings by weight

Full holdings list this quarter

#	Ticker	Issuer	Asset Subclass	Weight	Weight Change	Shares Change
1	MCFT	Mastercraft Boat Holdings In	Stock-Other	16.45%	+1.90%	-5.17%
2	RM	Regional Management CORP	Stock-Other	16.36%	-2.68%	-6.07%
3	HOV	Hovnanian Enterprises-a	Stock-Other	13.05%	+2.61%	—
4	VMD	Viemed Healthcare INC	Stock-Other	12.96%	+3.59%	+1.44%
5	RPAY	Repay Holdings CORP	Stock-Other	11.96%	+5.36%	+131.61%
6	MLKN	Millerknoll INC	Stock-Other	10.60%	-2.33%	-5.76%
7	OPRT	Oportun Financial CORP	Stock-Other	7.72%	+2.02%	+41.25%
8	IIIV	I3 Verticals Inc-class A	Stock-Other	6.45%	+0.18%	+5.46%
9	IMXI	International Money Express	Stock-Other	2.88%	+0.33%	—
10	RUSHA	Rush Enterprises Inc-cl A	Stock-Consumer Disc	1.57%	-4.29%	-80.06%

Reported value over time

Sector allocation

Sector allocation over time

Quarterly history

Period	Holdings	Total value	Stability	Top holdings
2026-03-31	10	$200.9M	30	1MCFT 2RM 3HOV Top holdings2026-03-31 1.MCFT 2.RM 3.HOV 4.VMD 5.RPAY 6.MLKN 7.OPRT 8.IIIV 9.IMXI 10.RUSHA
2025-12-31	11	$220.9M	24	1RM 2MCFT 3MLKN Top holdings2025-12-31 1.RM 2.MCFT 3.MLKN 4.HOV 5.VMD 6.QIPT 7.RPAY 8.IIIV 9.RUSHA 10.OPRT
2025-09-30	11	$226.7M	47	1RM 2MCFT 3HOV Top holdings2025-09-30 1.RM 2.MCFT 3.HOV 4.MLKN 5.IIIV 6.VMD 7.RUSHA 8.OPRT 9.QIPT 10.IMXI
2025-06-30	11	$204.5M	0	1MCFT 2RM 3MLKN Top holdings2025-06-30 1.MCFT 2.RM 3.MLKN 4.HOV 5.IMXI 6.IIIV 7.VMD 8.RUSHA 9.WLDN 10.QIPT
2025-03-31	11	$202.1M	0	1MCFT 2RM 3WLDN Top holdings2025-03-31 1.MCFT 2.RM 3.WLDN 4.MLKN 5.HOV 6.IIIV 7.IMXI 8.VMD 9.QIPT 10.RUSHA
2024-12-31	13	$238.8M	0	1RM 2MCFT 3MLKN Top holdings2024-12-31 1.RM 2.MCFT 3.MLKN 4.HOV 5.IMXI 6.IIIV 7.WLDN 8.GTX 9.VMD 10.QIPT
2024-09-30	13	$254.3M	0	1RM 2WLDN 3MCFT Top holdings2024-09-30 1.RM 2.WLDN 3.MCFT 4.HOV 5.RUSHA 6.MLKN 7.IMXI 8.GTX 9.VMD 10.QIPT
2024-06-30	14	$233.5M	0	1WLDN 2RM 3MCFT Top holdings2024-06-30 1.WLDN 2.RM 3.MCFT 4.IMXI 5.MLKN 6.RUSHA 7.CVGI 8.HOV 9.GTX 10.VMD
2024-03-31	12	$259.0M	0	1WLDN 2MCFT 3RM Top holdings2024-03-31 1.WLDN 2.MCFT 3.RM 4.CCS 5.IMXI 6.RUSHA 7.CVGI 8.MLKN 9.GTX 10.VMD
2023-12-31	13	$244.7M	0	1WLDN 2CCS 3RM Top holdings2023-12-31 1.WLDN 2.CCS 3.RM 4.RUSHA 5.CVGI 6.MCFT 7.IMXI 8.MLKN 9.GTX 10.VMD
2023-09-30	14	$232.9M	0	1WLDN 2RM 3CCS Top holdings2023-09-30 1.WLDN 2.RM 3.CCS 4.MCFT 5.CVGI 6.RUSHA 7.MLKN 8.IMXI 9.GTX 10.VMD
2023-06-30	13	$299.9M	0	1MCFT 2CCS 3WLDN Top holdings2023-06-30 1.MCFT 2.CCS 3.WLDN 4.RM 5.CVGI 6.IMXI 7.VMD 8.RUSHA 9.GTX 10.MLKN
2023-03-31	13	$271.3M	0	1CCS 2MCFT 3RM Top holdings2023-03-31 1.CCS 2.MCFT 3.RM 4.WLDN 5.IMXI 6.CVGI 7.VMD 8.RUSHA 9.GTX 10.MLKN
2022-12-31	13	$234.7M	0	1WLDN 2MCFT 3CCS Top holdings2022-12-31 1.WLDN 2.MCFT 3.CCS 4.RM 5.CVGI 6.IMXI 7.GTX 8.RUSHA 9.ACCS 10.VMD
2022-09-30	13	$160.6M	0	1WLDN 2CCS 3MCFT Top holdings2022-09-30 1.WLDN 2.CCS 3.MCFT 4.RM 5.IMXI 6.RUSHA 7.CVGI 8.GTX 9.ACCS 10.EML
2022-06-30	14	$209.3M	0	1WLDN 2MCFT 3CCS Top holdings2022-06-30 1.WLDN 2.MCFT 3.CCS 4.RM 5.IMXI 6.MLKN 7.ACCS 8.CVGI 9.RUSHA 10.VMD
2022-03-31	14	$217.7M	0	1WLDN 2RM 3MCFT Top holdings2022-03-31 1.WLDN 2.RM 3.MCFT 4.CCS 5.IMXI 6.RUSHA 7.MLKN 8.ACCS 9.GTX 10.CVGI
2021-12-31	13	$205.9M	0	1WLDN 2CCS 3RM Top holdings2021-12-31 1.WLDN 2.CCS 3.RM 4.MCFT 5.RUSHA 6.MLKN 7.ACCS 8.CVGI 9.EML 10.VMD

Holding changes this quarter

Forager Capital Management, LLC's most significant position changes for 2026-03-31: Sold out: Quipt Home Medical CORP (QIPT); Add: Repay Holdings CORP (RPAY) — shares +131.61%; Trim: Rush Enterprises Inc-cl A (RUSHA) — shares -80.06%; Add: Viemed Healthcare INC (VMD) — shares +1.44%; Trim: Regional Management CORP (RM) — shares -6.07%.

Position changes disclosed by Forager Capital Management, LLC for the quarter ending 2026-03-31, including ticker, issuer, weight change, shares change, and action
#	Ticker	Issuer	Weight Change	Shares Change	Action
1	RPAY	Repay Holdings CORP	+5.4%	+131.61%	Add
2	VMD	Viemed Healthcare INC	+3.6%	+1.44%	Add
3	HOV	Hovnanian Enterprises-a	+2.6%	—	Unchanged
4	OPRT	Oportun Financial CORP	+2%	+41.25%	Add
5	MCFT	Mastercraft Boat Holdings In	+1.9%	-5.17%	Trim
6	IMXI	International Money Express	+0.3%	—	Unchanged
7	IIIV	I3 Verticals Inc-class A	+0.2%	+5.46%	Add
8	MLKN	Millerknoll INC	-2.3%	-5.76%	Trim
9	RM	Regional Management CORP	-2.7%	-6.07%	Trim
10	RUSHA	Rush Enterprises Inc-cl A	-4.3%	-80.06%	Trim
11	QIPT	Quipt Home Medical CORP	—	EXIT	Sold out

FAQ

What is Forager Capital Management, LLC and what type of investor is it?

Forager Capital Management, LLC is a investment manager that files SEC Form 13F quarterly, disclosing its U.S. public equity holdings to regulators. As of the most recent reporting period (2026-03-31), the firm manages a tracked equity portfolio valued at approximately $200.9M, 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. Mastercraft Boat Holdings In (MCFT) — $33.0M (16.4%) 2. Regional Management CORP (RM) — $32.9M (16.4%) 3. Hovnanian Enterprises-a (HOV) — $26.2M (13.1%) 4. Viemed Healthcare INC (VMD) — $26.0M (13.0%) 5. Repay Holdings CORP (RPAY) — $24.0M (12.0%)

What changes did Forager Capital Management, LLC make in its most recent portfolio filing?

In the latest reported quarter, Forager Capital Management, LLC made 9 notable position adjustments: 0 new positions were initiated, 4 existing holdings were added to, 4 positions were partially reduced, and 1 were completely exited. The largest of these moves: Sold out: Quipt Home Medical CORP (QIPT); Add: Repay Holdings CORP (RPAY) — shares +131.61%; Trim: Rush Enterprises Inc-cl A (RUSHA) — shares -80.06%; Add: Viemed Healthcare INC (VMD) — shares +1.44%; Trim: Regional Management CORP (RM) — shares -6.07%

What sectors does Forager Capital Management, LLC focus on?

Forager Capital Management, LLC is concentrated in the following sectors based on its current disclosed equity portfolio: • Consumer Discretionary: 100.0%