[SCHEDULE 13G/A] Forte Biosciences, Inc. Amended Passive Investment Disclosure
Affinity Asset Advisors reports 7.3% stake in Forte
Affinity Asset Advisors, LLC and Michael Cho report beneficial ownership of 1,011,890 shares of Forte Biosciences common stock, representing approximately 7.3% of the outstanding shares as of March 31, 2026.
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Affinity Asset Advisors, LLC and Michael Cho report beneficial ownership of 1,011,890 shares of Forte Biosciences common stock, representing approximately 7.3% of the outstanding shares as of March 31, 2026. The filing cites 13,885,668 shares outstanding as of March 27, 2026, per the issuer's Form 10-K.
The shares are held directly by Affinity Healthcare Fund, LP; Affinity Asset Advisors serves as the fund's investment manager and exercises sole voting and dispositive power over the reported shares. The amendment is signed by the reporting persons and dated May 14, 2026.
Insights
13G/A shows a passive beneficial stake of 7.3% held through a fund.
The filing states the securities are directly held by Affinity Healthcare Fund, LP with voting and investment power exercised by Affinity Asset Advisors, LLC. The Reporting Persons beneficially own 1,011,890 shares as of March 31, 2026.
This is a disclosure of ownership rather than an announced transaction; subsequent filings may disclose purchases or sales. Cash-flow treatment and intent (passive vs. activist) are not specified in the provided excerpt.
Key Figures
Reported shares beneficially owned:1,011,890 sharesPercent of class:7.3%Shares outstanding (base):13,885,668 shares
3 metrics
Reported shares beneficially owned1,011,890 sharesAs of March 31, 2026
Percent of class7.3%Based on 13,885,668 shares outstanding as of March 27, 2026
Shares outstanding (base)13,885,668 sharesOutstanding as of March 27, 2026 per issuer Form 10-K
Key Terms
Schedule 13G/A, beneficially own, sole voting power
3 terms
Schedule 13G/Aregulatory
"Amendment No. 2 ) F o r t e Biosciences, Inc. Common Stock"
A Schedule 13G/A is an amended public filing with the U.S. securities regulator that updates a previous Schedule 13G, disclosing when an individual or group holds a substantial (typically over 5%) stake in a company and is claiming a passive, non‑controlling intent. Investors monitor these updates because rising or falling holdings can signal changing confidence, potential future moves, or shifts in voting power — like watching a public ledger where large shareholders quietly adjust their positions.
beneficially ownfinancial
"As of March 31, 2026, the Adviser and Mr. Cho beneficially own 1,011,890 shares"
Beneficially own means having the economic rights and risks of a security—such as the right to receive dividends, sell the shares, or profit from price changes—whether or not your name appears on the official share register. Think of it like renting a car: you use it and reap the benefits even if the title lists someone else. Investors care because beneficial ownership determines who truly controls value, must be disclosed under securities rules, and can signal potential influence or trading activity that affects a stock’s price.
sole voting powerregulatory
"As of March 31, 2026, the Reporting Persons have sole power to vote or to direct the vote of 1,011,890 shares"
Sole voting power is the exclusive right to cast votes attached to a shareholder’s stock without needing approval from anyone else. Like holding the only remote control for a TV, it lets that holder decide corporate matters such as board members, mergers, and policy changes, making it important to investors because it concentrates control and can strongly influence a company’s strategy and the value of its shares.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What stake in Forte Biosciences (FBRX) does Affinity Asset Advisors report?
Affinity Asset Advisors and Michael Cho report beneficial ownership of 1,011,890 shares (about 7.3%). The percentage is based on 13,885,668 shares outstanding as of March 27, 2026 per the issuer's Form 10-K.
Who legally holds the reported shares for the Affinity reporting persons?
The shares are directly held by Affinity Healthcare Fund, LP. Affinity Asset Advisors is the fund's investment manager and exercises sole voting and dispositive power over those shares.
What voting and disposition powers are reported for the 1,011,890 shares?
The Reporting Persons report sole power to vote and sole power to dispose of all 1,011,890 shares as of March 31, 2026, with 0 shares of shared power.
What dates anchor the ownership figures in this amendment?
The beneficial ownership is stated as of March 31, 2026, while the outstanding share base cited is 13,885,668 shares as of March 27, 2026, from the issuer's Form 10-K.
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(Amendment No. 2)
Forte Biosciences, Inc.
(Name of Issuer)
Common Stock, par value $0.001 per share
(Title of Class of Securities)
34962G208
(CUSIP Number)
03/31/2026
(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):
34962G208
1
Names of Reporting Persons
Affinity Asset Advisors, 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
1,011,890.00
6
Shared Voting Power
0.00
7
Sole Dispositive Power
1,011,890.00
8
Shared Dispositive Power
0.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
1,011,890.00
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)
7.3 %
12
Type of Reporting Person (See Instructions)
IA, OO
SCHEDULE 13G
CUSIP Number(s):
34962G208
1
Names of Reporting Persons
Michael Cho
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
1,011,890.00
6
Shared Voting Power
0.00
7
Sole Dispositive Power
1,011,890.00
8
Shared Dispositive Power
0.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
1,011,890.00
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)
7.3 %
12
Type of Reporting Person (See Instructions)
IN, HC
SCHEDULE 13G
Item 1.
(a)
Name of issuer:
Forte Biosciences, Inc.
(b)
Address of issuer's principal executive offices:
3060 Pegasus Park Drive, Building 6, Dallas, Texas, 75247
Item 2.
(a)
Name of person filing:
Affinity Asset Advisors, LLC
Michael Cho
(b)
Address or principal business office or, if none, residence:
450 Park Avenue
Suite 1403
New York, NY 10022
(c)
Citizenship:
Affinity Asset Advisors, LLC is a Delaware limited liability company, and Michael Cho is an individual and is a citizen of the United States.
(d)
Title of class of securities:
Common Stock, par value $0.001 per share
(e)
CUSIP No.:
34962G208
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:
The securities reported herein are directly held by Affinity Healthcare Fund, LP (the "Fund"). Affinity Asset Advisors, LLC (the "Adviser") is the investment manager of the Fund and exercises voting and investment power over the securities held directly by the Fund reported herein pursuant to an investment management agreement between the Adviser, the Fund, and the general partner of the Fund. The Adviser may be deemed to beneficially own the securities reported herein held by the Fund by virtue of its position as investment manager of the Fund. Michael Cho, the managing member of the Adviser, may be deemed a beneficial owner of the securities reported herein held directly by the Fund.
As of March 31, 2026, the Adviser and Mr. Cho (collectively, the "Reporting Persons") beneficially own 1,011,890 shares of common stock, par value $0.001 per share ("Common Stock"), of Forte Biosciences, Inc. (the "Issuer").
(b)
Percent of class:
As of March 31, 2026, the Reporting Persons beneficially own approximately 7.3% of the Common Stock outstanding.
The percentages disclosed above are based on 13,885,668 shares of Common Stock of the Issuer outstanding as of March 27, 2026, as set forth in the Issuer's Form 10-K filed with the Securities and Exchange Commission on March 31, 2026.
(c)
Number of shares as to which the person has:
(i) Sole power to vote or to direct the vote:
As of March 31, 2026, the Reporting Persons have sole power to vote or to direct the vote of 1,011,890 shares of Common Stock.
(ii) Shared power to vote or to direct the vote:
As of March 31, 2026, the Reporting Persons have shared power to vote or to direct the vote of 0 shares of Common Stock.
(iii) Sole power to dispose or to direct the disposition of:
As of March 31, 2026, the Reporting Persons have sole power to dispose or to direct the disposition of 1,011,890.00 shares of Common Stock.
(iv) Shared power to dispose or to direct the disposition of:
As of March 31, 2026, the Reporting Persons have shared power to dispose or to direct the disposition of 0 shares of Common Stock.
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.
Not Applicable
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 acquired and are held in the ordinary course of business and 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.
Affinity Asset Advisors, LLC
Signature:
/s/ Andrew Weinstein
Name/Title:
Andrew Weinstein, Chief Financial Officer and Chief Compliance Officer
