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FCM
Forager Capital Management Portfolio holdings
AUM
$266M
Turnover
18.18%
1-Year Est. Return
40%
This Fund
S&P 500
This Quarter
Est. Return
-3.39%
1 Year Est. Return
+40%
3 Year Est. Return
+52.62%
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$201M
AUM Growth
-$20M
(-9.1%)
Cap. Flow
-$10.6M
Cap. Flow
% of AUM
-5.27%
Top 10 Holdings %
Top 10 Hldgs %
100%
Holding
11
New
–
Increased
4
Reduced
4
Closed
1
Avg Time Held
2.8
years
Top 10 Avg Time Held
2
years
Top 20 Avg Time Held
2.8
years
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Repay Holdings
RPAY
|
+$16.8M |
| 2 |
Oportun Financial
OPRT
|
+$5M |
| 3 |
i3 Verticals
IIIV
|
+$698K |
| 4 |
Viemed Healthcare
VMD
|
+$333K |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
QIPT
Quipt Home Medical
QIPT
|
+$14.8M |
| 2 |
Rush Enterprises Class A
RUSHA
|
+$12.6M |
| 3 |
Regional Management Corp
RM
|
+$2.29M |
| 4 |
MasterCraft Boat Holdings
MCFT
|
+$1.9M |
| 5 |
MillerKnoll
MLKN
|
+$1.77M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Consumer Discretionary | 41.67% |
| 2 | Financials | 24.08% |
| 3 | Technology | 21.29% |
| 4 | Healthcare | 12.96% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
|
1
MasterCraft Boat Holdings
MCFT
$484M
| $33M | 16.45% |
1,611,277
-87,841
| -5% | -$1.9M |
2021 Q4
17 quarters
|
|
|
2
Regional Management Corp
RM
$319M
| $32.9M | 16.36% |
1,019,263
-65,835
| -6% | -$2.29M |
2021 Q4
17 quarters
|
|
3
Hovnanian Enterprises
HOV
$609M
| $26.2M | 13.05% |
236,315
| – | – |
2024 Q2
7 quarters
|
|
|
4
Viemed Healthcare
VMD
$373M
| $26M | 12.96% |
2,825,871
+40,000
| +1% | +$333K |
2022 Q4
13 quarters
|
|
|
5
Repay Holdings
RPAY
$340M
| $24M | 11.96% |
9,242,837
+5,252,111
| +132% | +$16.8M |
2025 Q4
1 quarter
|
|
|
6
MillerKnoll
MLKN
$1.48B
| $21.3M | 10.6% |
1,471,841
-90,000
| -6% | -$1.77M |
2021 Q4
17 quarters
|
|
|
7
Oportun Financial
OPRT
$418M
| $15.5M | 7.72% |
3,361,726
+981,726
| +41% | +$5M |
2025 Q3
2 quarters
|
|
|
8
i3 Verticals
IIIV
$297M
| $13M | 6.45% |
579,401
+30,000
| +5% | +$698K |
2024 Q4
5 quarters
|
|
9
International Money Express
IMXI
$321M
| $5.79M | 2.88% |
366,174
| – | – |
2022 Q1
16 quarters
|
|
|
10
Rush Enterprises Class A
RUSHA
$5.2B
| $3.16M | 1.57% |
71,733
-288,000
| -80% | -$12.6M |
2021 Q4
17 quarters
|
|
|
QIPT
11
DELISTED
Quipt Home Medical
QIPT
| – | – |
-4,199,562
| Closed | -$14.8M | – |
|
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Forager Capital Management's Q1 2026 Portfolio in Review
As of Q1 2026, Forager Capital Management held 11 positions worth $201M, down 9.1% from $221M the previous quarter. Its ten largest holdings account for 100% of the portfolio.
Forager Capital Management withdrew a net $10.6M in Q1 2026, closing 1 position and reducing 4 holdings. Its most notable exit was Quipt Home Medical, an estimated $14.8M position sold in full.
By sector, the portfolio is most concentrated in Consumer Discretionary at 42% of assets, down from 44% a quarter earlier, followed by Financials and Technology.
Against the trend, Forager Capital Management added an estimated $16.8M to Repay Holdings.
- Forager Capital Management added most to Repay Holdings in Q1 2026, an estimated $16.8M increase.
- Forager Capital Management's biggest Q1 2026 reduction was Rush Enterprises Class A, cutting an estimated $12.6M.
- Forager Capital Management fully exited Quipt Home Medical in Q1 2026, selling an estimated $14.8M.
- Forager Capital Management's ten largest holdings make up 100% of its $201M portfolio in Q1 2026.
- Forager Capital Management opened 0 new positions and closed 1 in Q1 2026.
- Forager Capital Management's portfolio value fell 9.1% quarter-over-quarter to $201M.
Based on Forager Capital Management's 13F filing for Q1 2026, filed 15 May 2026.