Forbright, Inc. has a significant shareholder group led by Bayview-related entities and David Ertel reporting ownership of Class A common stock. As of August 14, 2026, these reporting persons collectively beneficially owned 2,802,640 shares of Class A Common Stock, representing 8.7% of the 32,103,172 shares outstanding. This aggregate consists of 1,281,207 shares held by Bayview Opportunity Master Fund VI, L.P., 680,641 shares held by Bayview Opportunity Master Fund VIa, L.P., 420,396 shares held by Mayim Capital, LLC, and 420,396 shares held by David and Beth L. Ertel as tenants by the entireties. The group previously held 1,835,713 shares, or 6.3% of the class, as of June 30, 2026, indicating a sizable increase in their position following the issuer’s initial public offering. The reporting persons state that the ownership information does not constitute an admission of beneficial ownership or of membership in a group for purposes of Section 13(d) or 13(g).
Aggregate shares beneficially owned (Aug. 14, 2026)2,802,640 sharesClass A Common Stock collectively reported by the reporting persons as of August 14, 2026
Ownership percentage (Aug. 14, 2026)8.7%Portion of 32,103,172 Class A shares outstanding attributed in aggregate to the reporting persons
Shares outstanding32,103,172 sharesForbright Class A Common Stock outstanding used to calculate ownership as of August 14, 2026
Bayview Opportunity Master Fund VI, L.P. holdings1,281,207 sharesClass A shares held with shared voting and dispositive power as of August 14, 2026
Bayview Opportunity Master Fund VIa, L.P. holdings680,641 sharesClass A shares held with shared voting and dispositive power as of August 14, 2026
Mayim Capital and Ertel holdings840,792 shares420,396 shares held by Mayim Capital and 420,396 by David and Beth L. Ertel
Prior aggregate holdings (June 30, 2026)1,835,713 sharesRepresenting 6.3% of 28,939,391 Class A shares outstanding as of June 30, 2026
Key Terms
beneficially owned, shared voting power, shared dispositive power, tenants by the entireties, +2 more
6 terms
beneficially ownedfinancial
"As of August 14, 2026, collectively, the Reporting Persons beneficially owned an aggregate of 2,802,640 shares"
Beneficially owned describes securities or assets where a person has the economic rights and control—such as the right to receive dividends and to direct voting—even if legal title is held in another name. Think of it like having the keys and using a car that’s registered to someone else: you get the benefits and make decisions. Investors care because beneficial ownership reveals who truly controls value and voting power, affecting corporate decisions and takeover dynamics.
shared voting powerfinancial
"6 | Shared Voting Power 1,281,207.00 7 | Sole Dispositive Power 0.00 8 | Shared Dispositive Power"
Shared voting power occurs when two or more parties jointly have the right to vote or decide how a block of company shares is cast, like co-owners who must agree before moving a piece of furniture. Investors care because who controls voting rights affects board elections, major corporate decisions and takeover outcomes, and shared control can alter regulatory disclosures and the practical influence any holder has over a company’s direction and value.
shared dispositive powerfinancial
"6 | Shared Voting Power 680,641.00 7 | Sole Dispositive Power 0.00 8 | Shared Dispositive Power 680,641.00"
tenants by the entiretiesfinancial
"420,396 shares of Class A Common Stock held by David and Beth L. Ertel, husband and wife as tenants by the entireties"
Section 13(d)regulatory
"for purposes of Section 13(d) of the Securities Exchange Act of 1934, as amended"
Schedule 13Gregulatory
"The filing of this statement should not be construed to be an admission that any member of the Reporting Persons are members of a "group" for the purposes of Sections 13(d) and 13(g)"
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.
FAQ
What percentage of Forbright (FRBT) Class A shares do the reporting persons own?
As of August 14, 2026, the reporting persons collectively beneficially owned 8.7% of Forbright’s Class A Common Stock, holding 2,802,640 shares out of 32,103,172 shares outstanding, based on information provided by the issuer.
How many Forbright (FRBT) shares does each Bayview fund report owning?
Bayview Opportunity Master Fund VI, L.P. reports holding 1,281,207 Forbright Class A shares, and Bayview Opportunity Master Fund VIa, L.P. reports holding 680,641 shares as of August 14, 2026, with shared voting and dispositive power over those amounts.
What is the role of Bayview Asset Management in the Forbright (FRBT) holdings?
Bayview Asset Management, LLC reports beneficial ownership of 1,961,848 Forbright Class A shares, reflecting its shared voting and dispositive power as investment manager for the Bayview funds, while also being indirectly owned in part through Mayim Capital, LLC.
How many Forbright (FRBT) shares are attributed to Mayim Capital and David Ertel?
Mayim Capital, LLC holds 420,396 Forbright Class A shares, and David and Beth L. Ertel as tenants by the entireties hold 420,396 shares, for an aggregate of 840,792 shares associated with David Ertel as of August 14, 2026.
How did the reporting persons’ stake in Forbright (FRBT) change after June 30, 2026?
Their aggregate holdings increased from 1,835,713 shares (representing 6.3% of the class based on 28,939,391 shares outstanding) as of June 30, 2026, to 2,802,640 shares, or 8.7%, as of August 14, 2026.
Do the reporting persons admit group or beneficial owner status for Forbright (FRBT)?
They expressly state that this Schedule 13G should not be construed as an admission that any reporting person is the beneficial owner of the reported shares or that they are members of a “group” under Sections 13(d) and 13(g).
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
Forbright, Inc.
(Name of Issuer)
Class A Common Stock, $0.001 par value per share
(Title of Class of Securities)
34520K105
(CUSIP Number)
06/30/2026
(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):
34520K105
1
Names of Reporting Persons
Bayview Opportunity Master Fund VI, L.P.
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
1,281,207.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
1,281,207.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
1,281,207.00
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)
4.0 %
12
Type of Reporting Person (See Instructions)
PN
Comment for Type of Reporting Person: The beneficial ownership reported on this cover page is as of August 14, 2026.
SCHEDULE 13G
CUSIP Number(s):
34520K105
1
Names of Reporting Persons
Bayview Opportunity Master Fund VIa, L.P.
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
680,641.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
680,641.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
680,641.00
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)
2.1 %
12
Type of Reporting Person (See Instructions)
PN
Comment for Type of Reporting Person: The beneficial ownership reported on this cover page is as of August 14, 2026.
SCHEDULE 13G
CUSIP Number(s):
34520K105
1
Names of Reporting Persons
Bayview Asset Management, 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
1,961,848.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
1,961,848.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
1,961,848.00
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)
6.1 %
12
Type of Reporting Person (See Instructions)
IA, OO
Comment for Type of Reporting Person: The beneficial ownership reported on this cover page is as of August 14, 2026.
SCHEDULE 13G
CUSIP Number(s):
34520K105
1
Names of Reporting Persons
Mayim Capital, 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
FLORIDA
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
420,396.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
420,396.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
420,396.00
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)
1.3 %
12
Type of Reporting Person (See Instructions)
OO
Comment for Type of Reporting Person: The beneficial ownership reported on this cover page is as of August 14, 2026
SCHEDULE 13G
CUSIP Number(s):
34520K105
1
Names of Reporting Persons
David Ertel
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
420,396.00
6
Shared Voting Power
420,396.00
7
Sole Dispositive Power
420,396.00
8
Shared Dispositive Power
420,396.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
840,792.00
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)
2.6 %
12
Type of Reporting Person (See Instructions)
IN
Comment for Type of Reporting Person: The beneficial ownership reported on this cover page is as of August 14, 2026
SCHEDULE 13G
Item 1.
(a)
Name of issuer:
Forbright, Inc.
(b)
Address of issuer's principal executive offices:
4445 Willard Avenue, Suite 1000, Chevy Chase, MD 20815
Item 2.
(a)
Name of person filing:
This Schedule 13G is being filed by the Reporting Persons (as defined herein) with respect to the shares of Class A common stock, $0.001 par value per share ("Class A Common Stock") of Forbright, Inc. (the "Issuer").
Each of the following is hereinafter individually referred to as a "Reporting Person" and collectively as the "Reporting Persons." This statement is filed on behalf of: (i) Bayview Opportunity Master Fund VI, L.P., a Delaware limited partnership, (ii) Bayview Opportunity Master Fund VIa, L.P., a Delaware limited partnership, (iii) Bayview Asset Management, LLC, a Delaware limited liability company, (iv) Mayim Capital, LLC, a Florida limited liability company, and (v) David Ertel, a United States citizen.
(b)
Address or principal business office or, if none, residence:
The principal business address of each of the Reporting Persons is c/o Bayview Fund Management LLC, 4425 Ponce de Leon Blvd., 4th Floor, Coral Gables, FL 33146.
(c)
Citizenship:
See Item 2(a) above.
(d)
Title of class of securities:
Class A Common Stock, $0.001 par value per share
(e)
CUSIP Number(s):
34520K105
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 information set forth in the cover pages of this Schedule 13G are hereby incorporated by reference into this Item 4.
As of August 14, 2026, collectively, the Reporting Persons beneficially owned an aggregate of 2,802,640 shares of Class A Common Stock consisting of: (i) 1,281,207 shares of Class A Common Stock held by Bayview Opportunity Master Fund VI, L.P. ("BOF-VI Investor"), (ii) 680,641 shares of Class A Common Stock held by Bayview Opportunity Master Fund VIa, L.P. ("BOF-VIa Investor"), (iii) 420,396 shares of Class A Common Stock held by Mayim Capital, LLC ("Mayim Capital"), and (iv) 420,396 shares of Class A Common Stock held by David and Beth L. Ertel, husband and wife as tenants by the entireties. Mayim Capital holds an indirect equity interest in Bayview Asset Management, LLC, which is the sole member of Bayview Fund Management LLC, which serves as investment manager of each of BOF-VI Investor and BOF-VIa Investor. David Ertel is the sole member of Mayim Capital.
Neither the filing of this Schedule 13G nor any of its contents shall be deemed to constitute an admission that any Reporting Person is the beneficial owner of the shares of Class A Common Stock referred to herein for purposes of Section 13(d) of the Securities Exchange Act of 1934, as amended (the "Act"), or for any other purpose and each of the Reporting Persons expressly disclaims beneficial ownership of such shares. The filing of this statement should not be construed to be an admission that any member of the Reporting Persons are members of a "group" for the purposes of Sections 13(d) and 13(g) of the Act.
As of June 30, 2026, the Reporting Persons beneficially owned an aggregate of 1,835,713 shares of Class A Common Stock consisting of: (i) 839,183 shares of Class A Common Stock held by BOF-VI Investor, (ii) 445,816 shares of Class A Common Stock held by BOF-VIa Investor, (iii) 275,357 shares of Class A Common Stock held by Mayim Capital, and (iv) 275,357 shares of Class A Common Stock held by David and Beth L. Ertel, husband and wife as tenants by the entireties.
(b)
Percent of class:
As of August 14, 2026, each of the Reporting Persons may be deemed to be the beneficial owner of the percentage of Class A Common Stock listed on such Reporting Person's cover page. As of August 14, 2026, the Reporting Persons beneficially owned in the aggregate 2,802,640 shares of Class A Common Stock representing 8.7% of the outstanding shares of Class A Common Stock.
Calculations of the percentage of shares of Class A Common Stock beneficially owned are based on 32,103,172 shares of Class A Common Stock outstanding as of the date hereof based on information provided by the Issuer.
As of June 30, 2026, the Reporting Persons beneficially owned an aggregate of 1,835,713 representing 6.3% of the outstanding shares of Class A Common Stock based on 28,939,391 shares of Class A Common Stock outstanding following the consummation of the Issuer's initial public offering as disclosed in the prospectus on Form 424B4 filed by the Issuer with the Securities and Exchange Commission on June 11, 2026.
(c)
Number of shares as to which the person has:
(i) Sole power to vote or to direct the vote:
See each cover page hereof.
(ii) Shared power to vote or to direct the vote:
See each cover page hereof.
(iii) Sole power to dispose or to direct the disposition of:
See each cover page hereof.
(iv) Shared power to dispose or to direct the disposition of:
See each cover page hereof.
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:
Not Applicable
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.
Bayview Opportunity Master Fund VI, L.P.
Signature:
/s/ Daniel J. Blumenthal
Name/Title:
By: Bayview Capital GP VI, LLC, its General Partner, By: Daniel J. Blumenthal, Senior, Vice President and Secretary
Date:
08/14/2026
Bayview Opportunity Master Fund VIa, L.P.
Signature:
/s/ Daniel J. Blumenthal
Name/Title:
By: Bayview Capital GP VIA, LLC, its General Partner, By: Daniel J. Blumenthal, Senior, Vice President and Secretary
