1y return+42.9%S&P 500 +20.9%
3y return+32.7%S&P 500 +68.5%
These returns are for its stock picks as disclosed on Form 13F: last quarter's holdings, valued at this quarter's prices. They miss trades within each quarter, short positions, options, bonds, cash and fees, so they aren't the returns its clients got.
$100 invested in its stock picks
Since December 31, 2021: $113 against $157 in the S&P 500.2
Forager Capital Management, LLCS&P 500 (SPY)
Top holdings
At the end of June 30, 2026. Change is in shares since the quarter before.2
| Stock | Value | Share of portfolio | Change |
|---|---|---|---|
| RPAYRepay Hldgs Corp | $46.6M | 17.5% | +20.2% |
| RMRegional Mgmt Corp | $39.1M | 14.7% | −6.9% |
| MCFTMastercraft Boat Hldgs Inc | $37.5M | 14.1% | −9.9% |
| MLKNMillerknoll Inc | $32.0M | 12.0% | +6.1% |
| OPRTOportun Finl Corp | $25.8M | 9.7% | +34.2% |
| VMDViemed Healthcare Inc | $24.4M | 9.2% | −24.2% |
| HOVHovnanian Enterprises Inc | $21.3M | 8.0% | −36.7% |
| IIIVI3 Verticals Inc | $18.5M | 6.9% | +49.2% |
| ICFIIcf Intl Inc | $17.2M | 6.5% | New |
| IMXIInternational Money Express | $3.7M | 1.4% | −30.6% |
Best picks still held
How each current holding has done since the quarter it first appeared in its filings (up to six years back).
| Stock | Held since | Return since | Now worth |
|---|---|---|---|
| VMDViemed Healthcare Inc | December 31, 2022 | +50.8% | $24.4M |
| RPAYRepay Hldgs Corp | December 31, 2025 | +15.1% | $46.6M |
| HOVHovnanian Enterprises Inc | June 30, 2024 | +0.3% | $21.3M |
| IIIVI3 Verticals Inc | December 31, 2024 | −7.3% | $18.5M |
| OPRTOportun Finl Corp | September 30, 2025 | −7.5% | $25.8M |
| MCFTMastercraft Boat Hldgs Inc | December 31, 2021 | −8.8% | $37.5M |
| RMRegional Mgmt Corp | December 31, 2021 | −28.3% | $39.1M |
| IMXIInternational Money Express | March 31, 2022 | −29.9% | $3.7M |
| MLKNMillerknoll Inc | December 31, 2021 | −47.8% | $32.0M |
Sold off last quarter
- RUSHARush Enterprises Inc was $3.2M
Quarter by quarter
| Quarter | Its picks | S&P 500 |
|---|---|---|
| June 30, 2026 | +28.8% | +14.8% |
| March 31, 2026 | −3.1% | −4.6% |
| December 31, 2025 | −4.7% | +2.4% |
| September 30, 2025 | +20.2% | +7.8% |
| June 30, 2025 | +6.1% | +10.5% |
| March 31, 2025 | −13.6% | −4.6% |
| December 31, 2024 | −3.3% | +2.1% |
| September 30, 2024 | +11.7% | +5.4% |
| June 30, 2024 | −10.1% | +4.0% |
| March 31, 2024 | +8.4% | +10.0% |
| December 31, 2023 | +11.0% | +11.2% |
| September 30, 2023 | −13.2% | −3.6% |
| June 30, 2023 | +10.4% | +8.3% |
| March 31, 2023 | +5.9% | +7.0% |
| December 31, 2022 | +20.9% | +7.1% |
| September 30, 2022 | −20.1% | −5.3% |
| June 30, 2022 | −12.1% | −16.5% |
| March 31, 2022 | −14.1% | −4.9% |
Sources
Every number on this page points here. Each one links to the public record.
- 1SEC EDGAR: Forager Capital Management, LLC Form 13F filingshttps://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=1802986&type=13F-HR&dateb=&owner=include&count=40CIK 1802986
- 2SEC: 13F for the quarter ended June 30, 2026https://www.sec.gov/Archives/edgar/data/1802986/000142050626001674/Filed August 14, 2026 · accession 0001420506-26-001674