Forager Fund, L.P.: Insider Trades
Every open-market purchase and sale Forager Fund, L.P. reported on Form 4 since Feb 12, 2026, with how the stock moved after each purchase.
Our read on Forager Fund, L.P.'s trades
Forager Fund, L.P.'s purchases have a 100% hit rate at six months (5 of 5 rose), averaging +39.3%; 5 of 5 did better than the S&P 500.
15 of their 15 sales were not under a pre-set plan.
They have reported trades in 3 companies: RM, RPAY, MCFT, usually as a director or officer of each.
Track record of purchases
Of 5 purchases we can measure after 6 months, 5 beat the S&P 500. On average the stock did 20.3 percentage points better than the index.
| After | Purchases measured | Average change | Median | Vs. S&P 500 | Rose |
|---|---|---|---|---|---|
| 1 week | 8 | +4.4% | +7.5% | +3.0% | 5 of 8 |
| 1 month | 5 | +47.0% | +40.8% | +36.3% | 5 of 5 |
| 3 months | 8 | +46.1% | +65.0% | +31.6% | 8 of 8 |
| 6 months | 5 | +39.3% | +36.3% | +20.3% | 5 of 5 |
Change in the stock price from the price paid to the closest weekly price about 1 week, 1 month, 3 months, 6 months and 1 year later, from SEC fails-to-deliver data. "Vs. S&P 500" subtracts the change in the SPY ETF over the same weeks. Dividends are not included, and purchases with a possible stock split in between are skipped. Past results do not predict future ones. How we measure this
All reported trades
| Filed | Ticker | Role | Type | Value | Score | 3 mo. after |
|---|---|---|---|---|---|---|
| Sep 17 | RM | 10% owner | ▼ SELL | $335K | ||
| Sep 17 | RM | 10% owner | ▼ SELL | $292K | ||
| Sep 17 | RM | 10% owner | ▼ SELL | $318K | ||
| Apr 30 | RM | 10% owner | ▼ SELL | $112K | ||
| Apr 30 | RM | 10% owner | ▼ SELL | $83K | ||
| Apr 21 | RM | 10% owner | ▼ SELL | $233K | ||
| Apr 21 | RM | 10% owner | ▼ SELL | $595K | ||
| Apr 21 | RM | 10% owner | ▼ SELL | $277K | ||
| Apr 16 | RM | 10% owner | ▼ SELL | $494K | ||
| Apr 16 | RM | 10% owner | ▼ SELL | $670K | ||
| Apr 16 | RM | 10% owner | ▼ SELL | $281K | ||
| Apr 9 | RPAY | 10% owner | ▲ BUY | $212K | 26 | +58.2% |
| Apr 9 | RPAY | 10% owner | ▲ BUY | $1.25M | 33 | +65.0% |
| Apr 9 | RPAY | 10% owner | ▲ BUY | $847K | 30 | +75.2% |
| Apr 3 | RPAY | 10% owner | ▲ BUY | $1.17M | 33 | +66.0% |
| Apr 3 | RPAY | 10% owner | ▲ BUY | $1.24M | 37 | +65.4% |
| Mar 27 | RPAY | 10% owner | ▲ BUY | $552K | 26 | +11.1% |
| Mar 27 | RPAY | 10% owner | ▲ BUY | $873K | 26 | +11.5% |
| Mar 27 | RPAY | 10% owner | ▲ BUY | $510K | 26 | +16.1% |
| Feb 24 | MCFT | 10% owner | ▼ SELL | $623K | ||
| Feb 19 | MCFT | 10% owner | ▼ SELL | $706K | ||
| Feb 19 | MCFT | 10% owner | ▼ SELL | $452K | ||
| Feb 19 | MCFT | 10% owner | ▼ SELL | $289K |
Names come from the filings. Different people can share a name, so we group trades by the SEC's reporting-owner number (CIK) instead.
Sources
- Form 4: RM, sale of 10,401 shares · filed 2026-09-17
- Form 4: RM, sale of 9,064 shares · filed 2026-09-17
- Form 4: RM, sale of 9,857 shares · filed 2026-09-17
- Form 4: RM, sale of 2,916 shares · filed 2026-04-30
- Form 4: RM, sale of 2,101 shares · filed 2026-04-30
- Form 4: RM, sale of 5,788 shares · filed 2026-04-21
- Form 4: RM, sale of 15,000 shares · filed 2026-04-21
- Form 4: RM, sale of 7,173 shares · filed 2026-04-21
The 8 most recent filings; every trade in the table links to its own Form 4.
About this page
Insider trades reported on SEC Form 4: when the people who run a company buy or sell its shares with their own money.
How to read it
- Form 4
- The form a company insider (officer, director or owner of more than 10%) must file with the SEC within two business days of buying or selling the company's shares.
- Buy (P) and Sell (S)
- Open-market purchases and sales. Gifts, option exercises and automatic tax withholding are left out because they say little about what the insider thinks.
- Value
- Shares times price, as reported on the filing.
- 10b5-1
- A trade made under a plan set up in advance. Planned sales are common and usually say less than an unplanned purchase.
- Late filing
- A Form 4 filed more than two business days after the trade.
- Vs. S&P 500
- How the stock did after the trade minus how the overall market did in the same weeks.
A real example
In January 2016, when bank stocks were falling, JPMorgan Chase CEO Jamie Dimon bought 500,000 JPMorgan shares with his own money, worth about $26 million. His Form 4 made the purchase public within days, and investors read it as a strong sign of confidence.
Explain it like I'm 13
If the coach of a team bets his own allowance that his team will win, that tells you something. A Form 4 is the note a company boss must hand in whenever he buys or sells his own company's shares, so everyone can see it.
Data from public SEC filings and congressional reports. Information, not investment advice. Check every number against the filing linked on the page.