Forager Capital Management, LLC

All Holdings — 2025 Q4

AI Portfolio Summary
In 2025 Q4, Forager Capital Management, LLC maintained a portfolio of 12 distinct positions. The most significant new addition to the portfolio was REPAY HLDGS CORP, which now represents 6.60% of the total fund value. They heavily accumulated shares in MILLERKNOLL INC, increasing their position by 6.5%. Conversely, Forager Capital Management, LLC completely exited their position in GARRETT MOTION INC.
PCA Score Concentration Risk
Risk ENB
Total Positions
12
Quarter
2025 Q4
Top Holding
RM (19.0%)
Top 10 Concentration
97.5%
Turnover Rate
23.4%
Sector HHI
0.18
Items per page:
1-12 of 12
Stock History Sector / Type Port % Prev % Rank / Prev Conviction Change % Change Influence Shares Mkt Value Avg Cost Price Held 1st Owned Source Source Date Date Reported
RM
REGIONAL MGMT C...
Financial Services 19.04% 18.65% #1
Prev: #1
7.6 no change no change
P
S
1,085,098 $42,047,548 2021 Q4 13F Filing 2025-12-31 2026-02-14 (Est.)
MCFT
MASTERCRAFT BOA...
Consumer Cyclical 14.55% 17.07% #2
Prev: #2
5.8 -103,857 -5.8%
P
S
1,699,118 $32,130,321 2021 Q4 13F Filing 2025-12-31 2026-02-14 (Est.)
MLKN
MILLERKNOLL INC
Consumer Cyclical 12.93% 11.48% #3 1
Prev: #4
7.2 95,000 6.5%
P
S
1,561,841 $28,550,453 2021 Q4 13F Filing 2025-12-31 2026-02-14 (Est.)
HOV
HOVNANIAN ENTER...
Consumer Cyclical 10.44% 13.80% #4 1
Prev: #3
4.2 -7,042 -2.9%
P
S
236,315 $23,050,165 2024 Q2 13F Filing 2025-12-31 2026-02-14 (Est.)
VMD
VIEMED HEALTHCA...
Healthcare 9.37% 8.20% #5 1
Prev: #6
5.8 49,399 1.8%
P
S
2,785,871 $20,699,022 2021 Q4 13F Filing 2025-12-31 2026-02-14 (Est.)
QIPT
QUIPT HOME MEDI...
Healthcare 6.71% 4.84% #6 3
Prev: #9
2.7 no change no change
P
S
4,199,562 $14,824,454 2024 Q2 13F Filing 2025-12-31 2026-02-14 (Est.)
RPAY
REPAY HLDGS COR...
Technology 6.60% #7
Prev: #—
4.6 3,990,726 no change
NEW
3,990,726 $14,566,150 2025 Q4 13F Filing 2025-12-31 2026-02-14 (Est.)
IIIV
I3 VERTICALS IN...
Technology 6.27% 9.52% #8 3
Prev: #5
2.6 -115,599 -17.4%
P
S
549,401 $13,839,411 2024 Q4 13F Filing 2025-12-31 2026-02-14 (Est.)
RUSHA
RUSH ENTERPRISE...
Consumer Cyclical 5.86% 5.66% #9 2
Prev: #7
2.3 no change no change
P
S
239,822 $12,935,999 2021 Q4 13F Filing 2025-12-31 2026-02-14 (Est.)
OPRT
OPORTUN FINL CO...
Financial Services 5.70% 5.33% #10 2
Prev: #8
4.3 422,412 21.6%
P
S
2,380,000 $12,590,200 2025 Q3 13F Filing 2025-12-31 2026-02-14 (Est.)
IMXI
INTERNATIONAL M...
Technology 2.55% 4.46% #11 1
Prev: #10
1.2 -357,791 -49.4%
P
S
366,174 $5,624,433 2022 Q1 13F Filing 2025-12-31 2026-02-14 (Est.)
GTX
GARRETT MOTION ...
Consumer Cyclical 0.00% 1.00%
Sold All 😨
(Was: #11)
0.3 -166,095 -100.0%
CLOSED
$— 2021 Q4 13F Filing 2025-12-31 2026-02-14 (Est.)
Showing 1-12 of 12 holdings

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