Forager Capital Management, LLC

BIRMINGHAM, AL · CIK 1802986 · 13F filing filed 2026-08-14

No investment adviser registration (Form ADV) found for this filer. It may be a parent company whose subsidiaries are the registered advisers, a bank or insurer, or a manager based outside the US.

$265.9m reported value +32.4% vs Q1 2026

10positions

100.0%in top 10

1 new 4 added 5 reduced 1 sold out vs Q1 2026

Holdings, Q2 2026

The small lines show how much was held over the last 4 quarters (adjusted for stock splits).

#	Security	Ticker	Shares	Value	% of portfolio	Change	Shares change
1	REPAY HLDGS CORP COM CL A RPAY	RPAY	11,106,548	$46.6m17.54%	17.54%	Added +1.9m	+1,863,711 20.2%
2	REGIONAL MGMT CORP COM RM	RM	948,458	$39.1m14.69%	14.69%	Reduced -70.8k	-70,805 -7.0%
3	MASTERCRAFT BOAT HLDGS INC COM MCFT	MCFT	1,451,074	$37.5m14.09%	14.09%	Reduced -160.2k	-160,203 -9.9%
4	MILLERKNOLL INC COM MLKN	MLKN	1,561,841	$32.0m12.02%	12.02%	Added +90.0k	+90,000 6.1%
5	OPORTUN FINL CORP COM OPRT	OPRT	4,512,045	$25.8m9.69%	9.69%	Added +1.2m	+1,150,319 34.2%
6	VIEMED HEALTHCARE INC COM VMD	VMD	2,141,184	$24.4m9.18%	9.18%	Reduced -684.7k	-684,687 -24.2%
7	HOVNANIAN ENTERPRISES INC CL A NEW HOV	HOV	149,547	$21.3m8.01%	8.01%	Reduced -86.8k	-86,768 -36.7%
8	I3 VERTICALS INC COM CL A IIIV	IIIV	864,574	$18.5m6.94%	6.94%	Added +285.2k	+285,173 49.2%
9	ICF INTL INC COM ICFI	ICFI	235,900	$17.2m6.46%	6.46%	New
10	INTERNATIONAL MNY EXPRESS IN COM IMXI	IMXI	254,121	$3.7m1.38%	1.38%	Reduced -112.1k	-112,053 -30.6%

Sold out since Q1 2026

Security	Ticker	Shares held before	Value then
RUSH ENTERPRISES INC RUSHA	RUSHA	47,822	$3.2m47.8k shares

Stakes above 5%

Companies where this manager has reported owning more than 5% of a class of shares, on Schedule 13D (may seek influence) or 13G (passive): its latest filing for each, from 19 Dec 2024 on.

Company	Ticker	Stake	Change	Schedule	Last filed
REGIONAL MGMT CORP RM · 13G · filed 2025-06-11	RM	10.5%≈ $42.9m	+1.4 pts	13G	2025-06-11
REPAY HLDGS CORP RPAY · 13G · filed 2026-03-11	RPAY	10.0%≈ $36.1m	+4.1 pts	13G	2026-03-11
OPORTUN FINL CORP OPRT · 13G · filed 2026-07-23	OPRT	9.8%≈ $25.8m	+1.9 pts	13G	2026-07-23
I3 VERTICALS INC IIIV · 13G · filed 2026-09-30	IIIV	6.1%≈ $23.6m	new	13G	2026-09-30
MASTERCRAFT BOAT HLDGS INC MCFT · 13G · filed 2026-08-06	MCFT	6.0%≈ $27.7m	-2.9 pts	13G	2026-08-06

Trades reported as a company insider since 1 Apr 2026

Owning 10% or more of a company, or having someone on its board, makes this manager an insider there: it reports its trades in that company's shares on Form 4 within two business days. Open-market and private purchases and sales only.

Date	Company	Ticker	Trade	Shares	Value	Their holding
2026-09-17	REGIONAL MGMT CORP 10% owner	RM	Sold	10,401	$335.1k10.4k shares	-1%
2026-09-16	REGIONAL MGMT CORP 10% owner	RM	Sold	9,064	$291.8k9.1k shares	-1%
2026-09-15	REGIONAL MGMT CORP 10% owner	RM	Sold	9,857	$318.0k9.9k shares	-1%
2026-04-29	REGIONAL MGMT CORP 10% owner	RM	Sold	2,916	$112.3k2.9k shares	-<1%
2026-04-28	REGIONAL MGMT CORP 10% owner	RM	Sold	2,101	$83.2k2.1k shares	-<1%
2026-04-21	REGIONAL MGMT CORP 10% owner	RM	Sold	5,788	$232.6k5.8k shares	-1%
2026-04-20	REGIONAL MGMT CORP 10% owner	RM	Sold	15,000	$595.2k15.0k shares	-2%
2026-04-17	REGIONAL MGMT CORP 10% owner	RM	Sold	7,173	$276.6k7.2k shares	-1%
2026-04-16	REGIONAL MGMT CORP 10% owner	RM	Sold	12,827	$493.6k12.8k shares	-1%
2026-04-15	REGIONAL MGMT CORP 10% owner	RM	Sold	17,602	$669.9k17.6k shares	-2%
2026-04-14	REGIONAL MGMT CORP 10% owner	RM	Sold	7,398	$281.3k7.4k shares	-1%
2026-04-09	REPAY HLDGS CORP 10% owner	RPAY	Bought	78,991	$211.7k79.0k shares	+1%
2026-04-08	REPAY HLDGS CORP 10% owner	RPAY	Bought	484,720	$1.2m484.7k shares	+5%
2026-04-07	REPAY HLDGS CORP 10% owner	RPAY	Bought	350,000	$847.0k350.0k shares	+3%
2026-04-02	REPAY HLDGS CORP 10% owner	RPAY	Bought	461,609	$1.2m461.6k shares	+5%
2026-04-01	REPAY HLDGS CORP 10% owner	RPAY	Bought	488,391	$1.2m488.4k shares	+5%