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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
+2.14%
1 Year Est. Return
+40%
3 Year Est. Return
+52.62%
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$205M
AUM Growth
+$2.4M
Cap. Flow
-$2.88M
Cap. Flow %
-1.41%
Top 10 Hldgs %
97.09%
Holding
11
New
–
Increased
7
Reduced
3
Closed
–
Avg Time Held
10.6 quarters
Top 10 Avg Time Held
8.4 quarters
Top 20 Avg Time Held
10.6 quarters

Top Buys

Rank Stock Value
1
RM icon
Regional Management Corp
RM
+$5.41M
2
IMXI icon
International Money Express
IMXI
+$5.19M
3
RUSHA icon
Rush Enterprises Class A
RUSHA
+$4.06M
4
HOV icon
Hovnanian Enterprises
HOV
+$3.61M
5
MLKN icon
MillerKnoll
MLKN
+$2.05M

Top Sells

Rank Stock Value
1
WLDN icon
Willdan Group
WLDN
+$22.1M
2
IIIV icon
i3 Verticals
IIIV
+$2.51M
3
GTX icon
Garrett Motion
GTX
+$1.91M

Sector Composition

Rank Sector Weight
1 Consumer Discretionary 49.94%
2 Technology 18.54%
3 Financials 15.5%
4 Healthcare 10.89%
5 Industrials 5.13%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow Held Since
MCFT icon
1
MasterCraft Boat Holdings
MCFT
$477M
$33.5M 16.38%
1,802,975
+105,280
+6% +$1.8M
2021 Q4
14 quarters
RM icon
2
Regional Management Corp
RM
$317M
$31.7M 15.5%
1,085,098
+186,072
+21% +$5.41M
2021 Q4
14 quarters
MLKN icon
3
MillerKnoll
MLKN
$1.48B
$25.3M 12.36%
1,301,841
+120,000
+10% +$2.05M
2021 Q4
14 quarters
HOV icon
4
Hovnanian Enterprises
HOV
$620M
$25M 12.24%
239,500
+36,828
+18% +$3.61M
2024 Q2
4 quarters
IMXI icon
5
International Money Express
IMXI
$328M
$19.6M 9.6%
1,946,174
+455,000
+31% +$5.19M
2022 Q1
13 quarters
IIIV icon
6
i3 Verticals
IIIV
$289M
$18.3M 8.94%
665,000
-100,000
-13% -$2.51M
2024 Q4
2 quarters
VMD icon
7
Viemed Healthcare
VMD
$366M
$14.8M 7.22%
2,136,472
+230,670
+12% +$1.57M
2022 Q4
10 quarters
RUSHA icon
8
Rush Enterprises Class A
RUSHA
$5.19B
$12.4M 6.04%
359,733
+120,000
+50% +$4.06M
2021 Q4
14 quarters
WLDN icon
9
Willdan Group
WLDN
$1.13B
$10.5M 5.13%
167,957
-464,427
-73% -$22.1M
2021 Q4
14 quarters
QIPT
10
DELISTED
Quipt Home Medical
QIPT
$7.52M 3.68%
4,199,562
– –
2024 Q2
4 quarters
GTX icon
11
Garrett Motion
GTX
$4.81B
$5.95M 2.91%
566,095
-190,000
-25% -$1.91M
2021 Q4
14 quarters

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SSA
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Forager Capital Management's Q2 2025 Portfolio in Review

As of Q2 2025, Forager Capital Management held 11 positions worth $205M, up 1.2% from $202M the previous quarter. Its ten largest holdings account for 97% of the portfolio.

Trading was light in Q2 2025: portfolio turnover was 0%. Forager Capital Management opened no new positions and made no exits, leaving the 11-position portfolio largely intact.

By sector, the portfolio is most concentrated in Consumer Discretionary at 50% of assets, up from 44% a quarter earlier, followed by Technology and Financials.

  • Forager Capital Management added most to Regional Management Corp in Q2 2025, an estimated $5.41M increase.
  • Forager Capital Management's biggest Q2 2025 reduction was Willdan Group, cutting an estimated $22.1M.
  • Forager Capital Management's ten largest holdings make up 97% of its $205M portfolio in Q2 2025.
  • Forager Capital Management opened 0 new positions and closed 0 in Q2 2025.
  • Forager Capital Management's portfolio value rose 1.2% quarter-over-quarter to $205M.

Based on Forager Capital Management's 13F filing for Q2 2025, filed 13 Aug 2025.