Arbutus 8% stake reported by Whitefort group

Whitefort Capital and affiliates report a passive 8.0% beneficial stake in Arbutus Biopharma on Schedule 13G, no longer seeking to influence control.

Rhea-AI Filing Summary

Arbutus Biopharma Corp (ABUS) is the subject of a Schedule 13G filed by a group of Whitefort Capital entities and individuals David Salanic and Joseph Kaplan. As of September 4, 2026, the group reports beneficial ownership of 15,794,261 common shares, representing approximately 8.0% of Arbutus’s outstanding common shares, based on 198,105,743 shares outstanding as of August 19, 2026. The shares are held with shared voting and dispositive power through Whitefort Capital Master Fund, LP, with related general partners and managers "deemed" beneficial owners. The filers state they no longer hold the securities with a purpose or effect of changing or influencing control of Arbutus and therefore report on Schedule 13G in accordance with Rule 13d-1(h).

Key Figures

Beneficial ownership: 15,794,261 shares Ownership percentage: 8.0% Shares outstanding: 198,105,743 shares +2 more

5 metrics

Beneficial ownership 15,794,261 shares Common shares of Arbutus Biopharma beneficially owned by the Whitefort group as of September 4, 2026

Ownership percentage 8.0% Portion of Arbutus Biopharma’s outstanding common shares beneficially owned by the Whitefort group

Shares outstanding 198,105,743 shares Arbutus Biopharma common shares outstanding as of August 19, 2026, per Schedule TO

Shared voting power 15,794,261 shares Shares over which the Whitefort group has shared voting power

Shared dispositive power 15,794,261 shares Shares over which the Whitefort group has shared dispositive power

Key Terms

beneficially owns, Schedule 13G, Schedule 13D, tender offer statement on Schedule TO, +1 more

5 terms

beneficially owns financial

"Whitefort Master Fund directly beneficially owns 15,794,261 Shares"

Beneficially owns means a person or entity enjoys the economic benefits and control of a security even if the legal title or registration is held in another name. Think of it like having the keys and profits from a car that is registered to a friend: you use it, benefit from it, and make decisions about it even though the official paperwork lists someone else. For investors, this matters because it reveals who truly controls shares, affects voting power, potential conflicts of interest, and regulatory disclosure obligations.

Schedule 13G regulatory

"Accordingly, the Reporting Persons are filing this statement on Schedule 13G"

A Schedule 13G is a formal document that investors file with the government when they acquire a large ownership stake in a company, usually for investment purposes rather than control. It helps keep the public informed about who owns significant parts of a company's shares, which can influence how the company is managed and how investors make decisions. Filing this schedule is important for transparency and understanding the ownership landscape of publicly traded companies.

Schedule 13D regulatory

"the Reporting Persons filed a Schedule 13D on May 9, 2024"

A Schedule 13D is a legal document that investors file with regulators when they buy a large enough stake in a company to potentially influence its management or decisions. It provides details about the investor’s intention, ownership stake, and plans, helping other investors understand who is gaining control and what their motives might be.

tender offer statement on Schedule TO regulatory

"as reported in the Issuer's tender offer statement on Schedule TO"

A tender offer statement on Schedule TO is a formal regulatory filing that lays out the full terms, timeline, and conditions of a public offer to buy shares from existing shareholders. Think of it as a detailed invitation that explains who is buying, how much they’ll pay, how long the offer runs, and any rules or financing behind it. Investors use it to judge the fairness, likelihood and timing of a buyout and its likely effect on share value and control.

Rule 13d-1(h) regulatory

"in accordance with Rule 13d-1(h) of the Exchange Act"

FAQ

What percentage of Arbutus Biopharma (ABUS) shares does the Whitefort group report owning?

The Whitefort group reports beneficial ownership of approximately 8.0% of Arbutus Biopharma’s outstanding common shares, based on 198,105,743 shares outstanding as of August 19, 2026, as disclosed in the issuer’s Schedule TO.

How many Arbutus Biopharma (ABUS) shares does the Whitefort group beneficially own?

The Whitefort group reports beneficial ownership of 15,794,261 Arbutus Biopharma common shares. These shares are directly owned by Whitefort Capital Master Fund, LP, with related entities and individuals deemed to share beneficial ownership.

Is the Whitefort group seeking to influence control of Arbutus Biopharma (ABUS)?

As of September 4, 2026, the Whitefort group states it no longer holds securities of Arbutus with a purpose or effect of changing or influencing control, and it is filing on Schedule 13G under Rule 13d-1(h) as a result.

Which entities and individuals are reporting persons for the Arbutus Biopharma (ABUS) Schedule 13G?

Reporting persons are Whitefort Capital Master Fund, LP, Whitefort Capital GP, LLC, Whitefort Capital Management, LP, Whitefort Capital Management GP, LLC, and individuals David Salanic and Joseph Kaplan, each potentially deemed to beneficially own 15,794,261 shares.

What is the basis for the share count used in the Whitefort group’s 8.0% stake in ABUS?

The reported 8.0% ownership is calculated using 198,105,743 Arbutus common shares outstanding as of August 19, 2026, which the company reported in its tender offer statement on Schedule TO filed on August 24, 2026.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Available on EDGAR 09/04/2026 - 06:33 PM Accepted by SEC EDGAR 09/04/2026 - 06:32 PM Learn about SEC filing dates

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

Arbutus Biopharma Corp

(Name of Issuer)

Common Shares, without par value

(Title of Class of Securities)

03879J100

(CUSIP Number)

09/04/2026

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

schemaVersion:

SCHEDULE 13G

CUSIP Number(s): 03879J100

1

Names of Reporting Persons

Whitefort Capital Master Fund, LP

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

CAYMAN ISLANDS

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 15,794,261.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 15,794,261.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

15,794,261.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

8.0 %

12

Type of Reporting Person (See Instructions)

PN

Comment for Type of Reporting Person: The Reporting Persons (as defined below) initially filed a Schedule 13G with respect to the securities of the Issuer on September 11, 2023. Subsequently, on May 2, 2024, the Reporting Persons' investment intent changed with respect to the securities of the Issuer and the Reporting Persons filed a Schedule 13D on May 9, 2024 in accordance with Rule 13d-1(e) of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). As of September 4, 2026, the Reporting Persons no longer held securities of the Issuer with a purpose or effect of changing or influencing control of the Issuer, or in connection with or as a participant in any transaction having that purpose or effect. Accordingly, the Reporting Persons are filing this statement on Schedule 13G pursuant to Rule 13d-1(c) of the Exchange Act in accordance with Rule 13d-1(h) of the Exchange Act.

SCHEDULE 13G

CUSIP Number(s): 03879J100

1

Names of Reporting Persons

Whitefort Capital GP, LLC

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 15,794,261.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 15,794,261.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

15,794,261.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

8.0 %

12

Type of Reporting Person (See Instructions)

OO

SCHEDULE 13G

CUSIP Number(s): 03879J100

1

Names of Reporting Persons

Whitefort Capital Management, LP

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 15,794,261.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 15,794,261.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

15,794,261.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

8.0 %

12

Type of Reporting Person (See Instructions)

IA, PN

SCHEDULE 13G

CUSIP Number(s): 03879J100

1

Names of Reporting Persons

Whitefort Capital Management GP, LLC

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 15,794,261.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 15,794,261.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

15,794,261.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

8.0 %

12

Type of Reporting Person (See Instructions)

OO

SCHEDULE 13G

CUSIP Number(s): 03879J100

1

Names of Reporting Persons

David Salanic

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

FRANCE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 15,794,261.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 15,794,261.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

15,794,261.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

8.0 %

12

Type of Reporting Person (See Instructions)

HC, IN

SCHEDULE 13G

CUSIP Number(s): 03879J100

1

Names of Reporting Persons

Joseph Kaplan

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 15,794,261.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 15,794,261.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

15,794,261.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

8.0 %

12

Type of Reporting Person (See Instructions)

HC, IN

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Arbutus Biopharma Corp
(b)	Address of issuer's principal executive offices: 701 VETERANS CIRCLE, WARMINSTER, PA 18974
Item 2.
(a)	Name of person filing: This statement is filed by: (i) Whitefort Capital Master Fund, LP, a Cayman Islands exempted limited partnership ("Whitefort Master Fund"); (ii) Whitefort Capital GP, LLC, a Delaware limited liability company ("Whitefort Master GP"), as the general partner of Whitefort Master Fund; (iii) Whitefort Capital Management, LP, a Delaware limited partnership ("Whitefort Management"), as the investment manager of Whitefort Master Fund; (iv) Whitefort Capital Management GP, LLC, a Delaware limited liability company ("Whitefort GP"), as the general partner of Whitefort Management; (v) David Salanic, as a Co-Managing Partner of Whitefort Management and a Co-Managing Member of each of Whitefort Master GP and Whitefort GP; and (vi) Joseph Kaplan, as a Co-Managing Partner of Whitefort Management and a Co-Managing Member of each of Whitefort Master GP and Whitefort GP. Each of the foregoing is referred to as a "Reporting Person" and collectively as the "Reporting Persons."
(b)	Address or principal business office or, if none, residence: The address of the principal office of Whitefort Master Fund is c/o Walkers Corporate Limited, 190 Elgin Avenue, George Town, Grand Cayman KY1-9008 Cayman Islands. The address of the principal office of each of Whitefort Master GP, Whitefort Management, Whitefort GP and Messrs. Salanic and Kaplan is 12 East 49th Street, 40th Floor, New York, New York 10017.
(c)	Citizenship: Whitefort Master Fund is organized under the laws of the Cayman Islands. Each of Whitefort Master GP, Whitefort Management and Whitefort GP is organized under the laws of the State of Delaware. Mr. Salanic is a citizen of France. Mr. Kaplan is a citizen of the United States of America.
(d)	Title of class of securities: Common Shares, without par value
(e)	CUSIP Number(s): 03879J100
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: As of the date hereof: (i) Whitefort Master Fund directly beneficially owns 15,794,261 Shares; (ii) Whitefort Master GP, as the general partner of Whitefort Master Fund, may be deemed to beneficially own the 15,794,261 Shares beneficially owned directly by Whitefort Master Fund; (iii) Whitefort Management, as the investment manager of Whitefort Master Fund, may be deemed to beneficially own the 15,794,261 Shares beneficially owned directly by Whitefort Master Fund; (iv) Whitefort GP, as the general partner of Whitefort Management, may be deemed to beneficially own the 15,794,261 Shares beneficially owned directly by Whitefort Master Fund; (v) Mr. Salanic, as a Co-Managing Partner of Whitefort Management and a Co-Managing Member of each of Whitefort Master GP and Whitefort GP, may be deemed to beneficially own the 15,794,261 Shares beneficially owned directly by Whitefort Master Fund; and (vi) Mr. Kaplan, as a Co-Managing Partner of Whitefort Management and a Co-Managing Member of each of Whitefort Master GP and Whitefort GP, may be deemed to beneficially own the 15,794,261 Shares beneficially owned directly by Whitefort Master Fund. The filing of this Schedule 13G shall not be construed as an admission that the Reporting Persons are, for purposes of Section 13(d) of the Securities Exchange Act of 1934, as amended, the beneficial owners of any securities of the Issuer that he or it does not directly own. Each of the Reporting Persons specifically disclaims beneficial ownership of the securities reported herein that he or it does not directly own.
(b)	Percent of class: The following percentages are based on 198,105,743 Shares outstanding as of August 19, 2026, which is the total number of Shares outstanding as reported in the Issuer's tender offer statement on Schedule TO filed with the Securities and Exchange Commission on August 24, 2026. As of the date hereof, (i) Whitefort Master Fund beneficially owns approximately 8.0% of the outstanding Shares, (ii) Whitefort Master GP may be deemed to beneficially own approximately 8.0% of the outstanding Shares, (iii) Whitefort Management may be deemed to beneficially own approximately 8.0% of the outstanding Shares, (iv) Whitefort GP may be deemed to beneficially own approximately 8.0% of the outstanding Shares, (v) Mr. Salanic may be deemed to beneficially own approximately 8.0% of the outstanding Shares and (vi) Mr. Kaplan may be deemed to beneficially own approximately 8.0% of the outstanding Shares.
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: See Cover Pages Items 5-9.
	(ii) Shared power to vote or to direct the vote: See Cover Pages Items 5-9.
	(iii) Sole power to dispose or to direct the disposition of: See Cover Pages Items 5-9.
	(iv) Shared power to dispose or to direct the disposition of: See Cover Pages Items 5-9.
Item 5.	Ownership of 5 Percent or Less of a Class.
	Not Applicable
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	Not Applicable
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	If a group has filed this schedule pursuant to §240.13d-1(b)(1)(ii)(K), so indicate under Item 3(k) and attach an exhibit stating the identity and Item 3 classification of each member of the group. If a group has filed this schedule pursuant to §240.13d-1(c) or §240.13d-1(d), attach an exhibit stating the identity of each member of the group. See Exhibit 99.1.
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under § 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Whitefort Capital Master Fund, LP

Signature:	/s/ David Salanic
Name/Title:	David Salanic, Co-Managing Member of Whitefort Capital GP, LLC, its General Partner
Date:	09/04/2026

Signature:	/s/ Joseph Kaplan
Name/Title:	Joseph Kaplan, Co-Managing Member of Whitefort Capital GP, LLC, its General Partner
Date:	09/04/2026

Whitefort Capital GP, LLC

Signature:	/s/ David Salanic
Name/Title:	David Salanic, Co-Managing Member
Date:	09/04/2026

Signature:	/s/ Joseph Kaplan
Name/Title:	Joseph Kaplan, Co-Managing Member
Date:	09/04/2026

Whitefort Capital Management, LP

Signature:	/s/ David Salanic
Name/Title:	David Salanic, Co-Managing Partner
Date:	09/04/2026

Signature:	/s/ Joseph Kaplan
Name/Title:	Joseph Kaplan, Co-Managing Partner
Date:	09/04/2026

Whitefort Capital Management GP, LLC

Signature:	/s/ David Salanic
Name/Title:	David Salanic, Co-Managing Member
Date:	09/04/2026

Signature:	/s/ Joseph Kaplan
Name/Title:	Joseph Kaplan, Co-Managing Member
Date:	09/04/2026

David Salanic

Signature:	/s/ David Salanic
Name/Title:	David Salanic
Date:	09/04/2026

Joseph Kaplan

Signature:	/s/ Joseph Kaplan
Name/Title:	Joseph Kaplan
Date:	09/04/2026

Exhibit Information

99.1 - Joint Filing Agreement