Forager Capital Management, LLC
Net buyer this quarter
$266M
10
+$7.19M
100.0%
Holdings
| Company | Value | % of portfolio | % of company | POSITION CHANGE qoq % | First reported |
|---|---|---|---|---|---|
| Q2 2026 | |||||
 RPAY | $46.6M | 17.54% | 171.70% | +20.2% | Q4 2025 |
 RM | $39.1M | 14.69% | 10.15% | -7.0% | Q4 2021 |
 MCFT | $37.5M | 14.09% | 5.94% | -9.9% | Q4 2021 |
 MLKN | $32M | 12.02% | 2.29% | +6.1% | Q4 2021 |
 OPRT | $25.8M | 9.69% | 9.82% | +34.2% | Q3 2025 |
 VMD | $24.4M | 9.18% | 5.62% | -24.2% | Q4 2021 |
 HOV | $21.3M | 8.01% | 20.76% | -36.7% | Q2 2024 |
 IIIV | $18.5M | 6.94% | Not reported | +49.2% | Q4 2024 |
 ICFI | $17.2M | 6.46% | 1.32% | New | Q2 2026 |
 IMXI | $3.67M | 1.38% | 0.84% | -30.6% | Q1 2022 |
| Q1 2026 | |||||
| MCFT | $33M | 16.45% | 9.90% | -5.2% | Q4 2021 |
| RM | $32.9M | 16.36% | 10.92% | -6.1% | Q4 2021 |
| HOV | $26.2M | 13.05% | 32.81% | Not reported | Q2 2024 |
| VMD | $26M | 12.96% | 7.33% | +1.4% | Q4 2021 |
| RPAY | $24M | 11.96% | 142.88% | +131.6% | Q4 2025 |
| MLKN | $21.3M | 10.60% | 2.15% | -5.8% | Q4 2021 |
| OPRT | $15.5M | 7.72% | 7.37% | +41.3% | Q3 2025 |
| IIIV | $13M | 6.45% | Not reported | +5.5% | Q4 2024 |
| IMXI | $5.79M | 2.88% | 1.22% | Not reported | Q1 2022 |
 RUSHA | $3.16M | 1.57% | Not reported | -80.1% | Q4 2021 |
| Q4 2025 | |||||
| RM | $42M | 19.04% | 11.36% | Not reported | Q4 2021 |
| MCFT | $32.1M | 14.55% | 10.43% | -5.8% | Q4 2021 |
| MLKN | $28.6M | 12.93% | 2.29% | +6.5% | Q4 2021 |
| HOV | $23.1M | 10.44% | 32.81% | -2.9% | Q2 2024 |
| VMD | $20.7M | 9.37% | 7.33% | +1.8% | Q4 2021 |
| QIPT | $14.8M | 6.71% | 9.54% | Not reported | Q2 2024 |
| RPAY | $14.6M | 6.60% | 61.69% | New | Q4 2025 |
| IIIV | $13.8M | 6.27% | Not reported | -17.4% | Q4 2024 |
| RUSHA | $12.9M | 5.86% | Not reported | Not reported | Q4 2021 |
| OPRT | $12.6M | 5.70% | 5.36% | +21.6% | Q3 2025 |
| IMXI | $5.62M | 2.55% | 1.23% | -49.4% | Q1 2022 |
| Q3 2025 | |||||
| RM | $42.3M | 18.65% | 11.07% | Not reported | Q4 2021 |
| MCFT | $38.7M | 17.07% | 11.07% | Not reported | Q4 2021 |
| HOV | $31.3M | 13.80% | 33.79% | +1.6% | Q2 2024 |
| MLKN | $26M | 11.48% | 2.14% | +12.7% | Q4 2021 |
| IIIV | $21.6M | 9.52% | Not reported | Not reported | Q4 2024 |
| VMD | $18.6M | 8.20% | 7.20% | +28.1% | Q4 2021 |
| RUSHA | $12.8M | 5.66% | Not reported | Not reported | Q4 2021 |
| OPRT | $12.1M | 5.33% | 4.44% | New | Q3 2025 |
| QIPT | $11M | 4.84% | 9.67% | Not reported | Q2 2024 |
| IMXI | $10.1M | 4.46% | 2.44% | -62.8% | Q1 2022 |
 GTX | $2.26M | 1.00% | 0.09% | -70.7% | Q4 2021 |