[SCHEDULE 13G/A] Forte Biosciences, Inc. SEC Filing
Alger Associates, Inc. reports beneficial ownership of 1,618,649 shares of Forte Biosciences common stock, representing 13.3% of the class. Alger discloses sole voting power over 1,608,040 shares and sole dispositive power over 1,618,649 shares. The securities are held for one or more open-end investment companies or managed accounts advised by Fred Alger Management, LLC, a wholly owned subsidiary of Alger Group Holdings, LLC, which in turn is owned by Alger Associates, Inc. The filing indicates these holdings are held in the ordinary course of business and not for the purpose of changing or influencing control.
- Material disclosure of a 13.3% beneficial stake, improving transparency for investors
- Sole voting and dispositive power stated for the reported shares, clarifying control rights
- None.
Insights
TL;DR: Alger holds a material, passive stake of 13.3% in Forte Biosciences with near-total sole voting and dispositive power over those shares.
Alger's 13.3% position is large enough to be investor-significant but the Schedule 13G format and the certification state the stake is held in the ordinary course of business and not to influence control. Ownership is through investment vehicles managed by Fred Alger Management, LLC, indicating portfolio exposure rather than an activist intent. For investors, this identifies a concentrated institutional holder whose trading could affect free float and liquidity, but the filing contains no indication of change-in-control activities.
TL;DR: A 13.3% holder with sole voting power is notable for governance monitoring but the filer attests to passive intent.
From a governance perspective, sole voting power over 1,608,040 shares means Alger can influence votes if it chooses, yet the Schedule 13G classification and signature statement affirm passive ownership. The disclosure of the ownership chain—Alger Associates, Alger Group Holdings and Fred Alger Management—provides clear stewardship lines. No other governance actions, board nominations or group affiliations are disclosed in this filing.