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FCM

Forager Capital Management Portfolio holdings

AUM $266M
1-Year Est. Return 40%
This Fund
S&P 500
This Quarter Est. Return
-11.16%
1 Year Est. Return
+40%
3 Year Est. Return
+52.62%
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$202M
AUM Growth
-$36.7M
Cap. Flow
-$7.48M
Cap. Flow %
-3.7%
Top 10 Hldgs %
96.87%
Holding
13
New
–
Increased
4
Reduced
2
Closed
2

Top Buys

Rank Stock Value
1
WLDN icon
Willdan Group
WLDN
+$7.1M
2
IMXI icon
International Money Express
IMXI
+$5.99M
3
HOV icon
Hovnanian Enterprises
HOV
+$1.64M
4
VMD icon
Viemed Healthcare
VMD
+$1.48M

Top Sells

Rank Stock Value
1
GTX icon
Garrett Motion
GTX
+$9.04M
2
RM icon
Regional Management Corp
RM
+$6.26M
3
CVGI icon
Commercial Vehicle Group
CVGI
+$4.8M
4
CCS icon
Century Communities
CCS
+$3.58M

Sector Composition

Rank Sector Weight
1 Consumer Discretionary 43.51%
2 Technology 18.65%
3 Financials 13.39%
4 Industrials 12.74%
5 Healthcare 11.71%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
MCFT icon
1
MasterCraft Boat Holdings
MCFT
$579M
$29.2M 14.46%
1,697,695
– –
RM icon
2
Regional Management Corp
RM
$300M
$27.1M 13.39%
899,026
-187,076
-17% -$6.26M
WLDN icon
3
Willdan Group
WLDN
$1.34B
$25.8M 12.74%
632,384
+191,945
+44% +$7.1M
MLKN icon
4
MillerKnoll
MLKN
$1.58B
$22.6M 11.19%
1,181,841
– –
HOV icon
5
Hovnanian Enterprises
HOV
$760M
$21.2M 10.5%
202,672
+13,604
+7% +$1.64M
IIIV icon
6
i3 Verticals
IIIV
$293M
$18.9M 9.34%
765,000
– –
IMXI icon
7
International Money Express
IMXI
$437M
$18.8M 9.31%
1,491,174
+350,000
+31% +$5.99M
VMD icon
8
Viemed Healthcare
VMD
$336M
$13.9M 6.86%
1,905,802
+188,304
+11% +$1.48M
QIPT
9
DELISTED
Quipt Home Medical
QIPT
$9.78M 4.84%
4,199,562
– –
RUSHA icon
10
Rush Enterprises Class A
RUSHA
$8.27B
$8.54M 4.22%
159,822
– –
GTX icon
11
Garrett Motion
GTX
$4.97B
$6.33M 3.13%
756,095
-975,000
-56% -$9.04M
CCS icon
12
Century Communities
CCS
$1.97B
– –
-48,811
Closed -$3.58M
CVGI icon
13
Commercial Vehicle Group
CVGI
$127M
– –
-1,937,099
Closed -$4.8M

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VF
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I
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SSA
SSA Swiss Advisors Zurich $266M AUM 24.57% 1-Year Est. Return
BCA
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WFA
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HBS
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Forager Capital Management's Q1 2025 Portfolio in Review

As of Q1 2025, Forager Capital Management held 13 positions worth $202M, down 15% from $239M the previous quarter. Its ten largest holdings account for 97% of the portfolio.

Forager Capital Management withdrew a net $7.48M in Q1 2025, closing 2 positions and reducing 2 holdings. Its most notable exit was Commercial Vehicle Group, an estimated $4.8M position sold in full.

By sector, the portfolio is most concentrated in Consumer Discretionary at 44% of assets, down from 48% a quarter earlier, followed by Technology and Financials.

Against the trend, Forager Capital Management added an estimated $7.1M to Willdan Group.

  • Forager Capital Management added most to Willdan Group in Q1 2025, an estimated $7.1M increase.
  • Forager Capital Management's biggest Q1 2025 reduction was Garrett Motion, cutting an estimated $9.04M.
  • Forager Capital Management fully exited Commercial Vehicle Group in Q1 2025, selling an estimated $4.8M.
  • Forager Capital Management's ten largest holdings make up 97% of its $202M portfolio in Q1 2025.
  • Forager Capital Management opened 0 new positions and closed 2 in Q1 2025.
  • Forager Capital Management's portfolio value fell 15% quarter-over-quarter to $202M.

Based on Forager Capital Management's 13F filing for Q1 2025, filed 15 May 2025.