Forbright, Inc. received an ownership report from GPC Partners Investments (Elevate) LP and related Gallatin Point entities and principals Matthew B. Botein and Lewis A. (Lee) Sachs. As of August 14, 2026, GPC Elevate directly holds 3,178,251 shares of Class A common stock, representing 9.9% of the outstanding Class A shares based on 32,103,172 shares outstanding. This stake includes 1,095,351 Class A shares obtained after June 30, 2026 through anti-dilution conversion rights, under which an equal number of Class B shares were converted into Class A following the company’s initial public offering and other dilutive issuances. GPC Elevate still holds 7,744,751 Class B shares that are convertible into Class A, but the charter restricts conversions that would increase its beneficial ownership above 9.9%. As of June 30, 2026, before this conversion, the group beneficially owned 2,082,900 Class A shares, or 7.2% based on 28,939,391 Class A shares then outstanding.
Positive
None.
Negative
None.
Key Figures
Class A shares beneficially owned:3,178,251 sharesBeneficial ownership percentage:9.9%Class A shares outstanding:32,103,172 shares+5 more
8 metrics
Class A shares beneficially owned3,178,251 sharesHeld directly by GPC Elevate as of August 14, 2026
Beneficial ownership percentage9.9%Portion of outstanding Class A common stock held by reporting group
Class A shares outstanding32,103,172 sharesClass A common stock outstanding used to compute 9.9% stake
Anti-dilution Class A shares acquired1,095,351 sharesClass A shares received by converting an equal number of Class B shares
Remaining Class B shares7,744,751 sharesClass B common stock still held and convertible into Class A
Prior Class A holdings2,082,900 sharesBeneficially owned as of June 30, 2026 before conversion
Prior ownership percentage7.2%Stake in Class A based on 28,939,391 shares outstanding after IPO
Prior Class A shares outstanding28,939,391 sharesClass A outstanding following Forbright’s initial public offering
Key Terms
beneficially owned, anti-dilution conversion rights, Amended and Restated Certificate of Incorporation, Class B common stock, +1 more
5 terms
beneficially ownedfinancial
"As of August 14, 2026, GPC Elevate directly owns 3,178,251 shares of Class A common stock of the Issuer, representing approximately 9.9% of the outstanding Class A common stock."
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.
anti-dilution conversion rightsfinancial
"acquired by GPC Elevate following June 30, 2026 upon its exercise of anti-dilution conversion rights under the Issuer's Amended and Restated Certificate"
Amended and Restated Certificate of Incorporationregulatory
"upon its exercise of anti-dilution conversion rights under the Issuer's Amended and Restated Certificate of Incorporation"
A company’s amended and restated certificate of incorporation is an updated version of its foundational legal charter that replaces the older document and folds in all changes into one clear copy; it spells out corporate structure, classes of stock, shareholder rights and key governance rules. Investors care because it can change who controls the company, how votes are counted, what claims shareholders have on assets or dividends, and can introduce or remove protections against takeovers—like updating a house title after a major renovation to show who owns what and under what rules.
Class B common stockfinancial
"pursuant to which GPC Elevate converted an equal number of its Class B common stock into shares of Class A common stock"
A class B common stock is one of multiple types of a company’s ordinary shares that carries specific rights—often different voting power or dividend priority—compared with other classes. For investors it matters because those differences affect how much influence you have over company decisions, the income you might receive, and how freely the shares trade; think of it like owning a car with different keys: some keys let you start the engine and open the trunk, others only unlock the door.
percent of classfinancial
"The percent of class beneficially owned by the Reporting Persons as of August 14, 2026 is based upon 32,103,172 shares of Class A common stock outstanding"
Percent of class is the portion of a specific category of securities—such as a company’s common shares, preferred shares, or a bond series—that takes part in or approves a corporate action (vote, consent, tender, etc.). Investors watch this number because it reveals how much support or opposition exists within that particular shareholder group; like counting how many members of a club back a proposal, it can determine whether a plan passes or how influence is distributed.
FAQ
What ownership stake in Forbright, Inc. (FRBT) does GPC Elevate report?
GPC Elevate reports owning 3,178,251 Class A shares of Forbright, Inc., representing 9.9% of the outstanding Class A common stock, based on 32,103,172 shares outstanding as of August 14, 2026, as disclosed to the reporting group.
How did GPC Elevate’s Forbright (FRBT) Class A holdings change in 2026?
After June 30, 2026, GPC Elevate acquired 1,095,351 Class A shares by converting an equal number of Class B shares under anti-dilution rights. Before this, it beneficially owned 2,082,900 Class A shares, or 7.2% of Class A based on 28,939,391 shares outstanding.
What limits apply to GPC Elevate’s conversions of Forbright (FRBT) Class B stock?
GPC Elevate holds 7,744,751 Class B shares that remain convertible into Class A. However, Forbright’s Amended and Restated Certificate of Incorporation prohibits conversions that would cause GPC Elevate to beneficially own more than 9.9% of the outstanding Class A common stock.
Who are the reporting persons in the Forbright (FRBT) Schedule 13G?
The reporting group comprises GPC Elevate, Gallatin Point Capital LLC, GPC Partners GP LLC, Gallatin Point Holdings LP, and individuals Matthew B. Botein and Lewis A. (Lee) Sachs, who collectively have voting and dispositive power over the shares held by GPC Elevate.
What is the basis for the 9.9% Forbright (FRBT) ownership calculation?
The 9.9% beneficial ownership figure is calculated using 3,178,251 Class A shares held by GPC Elevate and a total of 32,103,172 Class A shares outstanding, a share count that Forbright disclosed to the reporting persons as of August 14, 2026.
How did Forbright’s (FRBT) IPO affect GPC Elevate’s share conversions?
The company’s initial public offering, along with other dilutive stock issuances in Q2 2026, triggered GPC Elevate’s anti-dilution conversion rights, allowing conversion of 1,095,351 Class B shares into an equal number of Class A shares under the charter’s terms.
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
GPC Partners Investments (Elevate) 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
3,178,251.00
6
Shared Voting Power
0.00
7
Sole Dispositive Power
3,178,251.00
8
Shared Dispositive Power
0.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
3,178,251.00
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)
9.9 %
12
Type of Reporting Person (See Instructions)
PN
Comment for Type of Reporting Person: The shares of Class A common stock and percent of class reported herein include 1,095,351 shares of Class A common stock acquired by GPC Partners Investments (Elevate) LP ("GPC Elevate") following June 30, 2026 upon its exercise of anti-dilution conversion rights under the Issuer's Amended and Restated Certificate of Incorporation, pursuant to which GPC Elevate converted an equal number of its Class B common stock into shares of Class A common stock. Such conversion rights were triggered by the issuance of Class A common stock in the Issuer's initial public offering and certain other dilutive issuances of stock by the Company during the second quarter of 2026. GPC Elevate continues to hold 7,744,751 shares of Class B common stock that remain convertible into Class A common stock; however, the Issuer's Amended and Restated Certificate of Incorporation prohibits GPC Elevate from converting such shares to the extent such conversion would result in GPC Elevate beneficially owning more than 9.9% of the outstanding Class A common stock. As of June 30, 2026, prior to such conversion, the Reporting Persons beneficially owned 2,082,900 shares of Class A common stock, representing approximately 7.2% of the outstanding Class A common stock.
SCHEDULE 13G
CUSIP Number(s):
34520K105
1
Names of Reporting Persons
Gallatin Point 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
DELAWARE
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
3,178,251.00
6
Shared Voting Power
0.00
7
Sole Dispositive Power
3,178,251.00
8
Shared Dispositive Power
0.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
3,178,251.00
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)
9.9 %
12
Type of Reporting Person (See Instructions)
OO
Comment for Type of Reporting Person: The shares of Class A common stock and percent of class reported herein include 1,095,351 shares of Class A common stock acquired by GPC Elevate following June 30, 2026 upon its exercise of anti-dilution conversion rights under the Issuer's Amended and Restated Certificate of Incorporation, pursuant to which GPC Elevate converted an equal number of its Class B common stock into shares of Class A common stock. Such conversion rights were triggered by the issuance of Class A common stock in the Issuer's initial public offering and certain other dilutive issuances of stock by the Company during the second quarter of 2026. GPC Elevate continues to hold 7,744,751 shares of Class B common stock that remain convertible into Class A common stock; however, the Issuer's Amended and Restated Certificate of Incorporation prohibits GPC Elevate from converting such shares to the extent such conversion would result in GPC Elevate beneficially owning more than 9.9% of the outstanding Class A common stock. As of June 30, 2026, prior to such conversion, the Reporting Persons beneficially owned 2,082,900 shares of Class A common stock, representing approximately 7.2% of the outstanding Class A common stock.
SCHEDULE 13G
CUSIP Number(s):
34520K105
1
Names of Reporting Persons
GPC Partners 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
3,178,251.00
6
Shared Voting Power
0.00
7
Sole Dispositive Power
3,178,251.00
8
Shared Dispositive Power
0.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
3,178,251.00
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)
9.9 %
12
Type of Reporting Person (See Instructions)
OO
Comment for Type of Reporting Person: The shares of Class A common stock and percent of class reported herein include 1,095,351 shares of Class A common stock acquired by GPC Elevate following June 30, 2026 upon its exercise of anti-dilution conversion rights under the Issuer's Amended and Restated Certificate of Incorporation, pursuant to which GPC Elevate converted an equal number of its Class B common stock into shares of Class A common stock. Such conversion rights were triggered by the issuance of Class A common stock in the Issuer's initial public offering and certain other dilutive issuances of stock by the Company during the second quarter of 2026. GPC Elevate continues to hold 7,744,751 shares of Class B common stock that remain convertible into Class A common stock; however, the Issuer's Amended and Restated Certificate of Incorporation prohibits GPC Elevate from converting such shares to the extent such conversion would result in GPC Elevate beneficially owning more than 9.9% of the outstanding Class A common stock. As of June 30, 2026, prior to such conversion, the Reporting Persons beneficially owned 2,082,900 shares of Class A common stock, representing approximately 7.2% of the outstanding Class A common stock.
SCHEDULE 13G
CUSIP Number(s):
34520K105
1
Names of Reporting Persons
Gallatin Point Holdings 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
3,178,251.00
6
Shared Voting Power
0.00
7
Sole Dispositive Power
3,178,251.00
8
Shared Dispositive Power
0.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
3,178,251.00
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)
9.9 %
12
Type of Reporting Person (See Instructions)
PN
Comment for Type of Reporting Person: The shares of Class A common stock and percent of class reported herein include 1,095,351 shares of Class A common stock acquired by GPC Elevate following June 30, 2026 upon its exercise of anti-dilution conversion rights under the Issuer's Amended and Restated Certificate of Incorporation, pursuant to which GPC Elevate converted an equal number of its Class B common stock into shares of Class A common stock. Such conversion rights were triggered by the issuance of Class A common stock in the Issuer's initial public offering and certain other dilutive issuances of stock by the Company during the second quarter of 2026. GPC Elevate continues to hold 7,744,751 shares of Class B common stock that remain convertible into Class A common stock; however, the Issuer's Amended and Restated Certificate of Incorporation prohibits GPC Elevate from converting such shares to the extent such conversion would result in GPC Elevate beneficially owning more than 9.9% of the outstanding Class A common stock. As of June 30, 2026, prior to such conversion, the Reporting Persons beneficially owned 2,082,900 shares of Class A common stock, representing approximately 7.2% of the outstanding Class A common stock.
SCHEDULE 13G
CUSIP Number(s):
34520K105
1
Names of Reporting Persons
Botein Matthew
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
3,178,251.00
6
Shared Voting Power
0.00
7
Sole Dispositive Power
3,178,251.00
8
Shared Dispositive Power
0.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
3,178,251.00
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)
9.9 %
12
Type of Reporting Person (See Instructions)
IN
Comment for Type of Reporting Person: The shares of Class A common stock and percent of class reported herein include 1,095,351 shares of Class A common stock acquired by GPC Elevate following June 30, 2026 upon its exercise of anti-dilution conversion rights under the Issuer's Amended and Restated Certificate of Incorporation, pursuant to which GPC Elevate converted an equal number of its Class B common stock into shares of Class A common stock. Such conversion rights were triggered by the issuance of Class A common stock in the Issuer's initial public offering and certain other dilutive issuances of stock by the Company during the second quarter of 2026. GPC Elevate continues to hold 7,744,751 shares of Class B common stock that remain convertible into Class A common stock; however, the Issuer's Amended and Restated Certificate of Incorporation prohibits GPC Elevate from converting such shares to the extent such conversion would result in GPC Elevate beneficially owning more than 9.9% of the outstanding Class A common stock. As of June 30, 2026, prior to such conversion, the Reporting Persons beneficially owned 2,082,900 shares of Class A common stock, representing approximately 7.2% of the outstanding Class A common stock.
SCHEDULE 13G
CUSIP Number(s):
34520K105
1
Names of Reporting Persons
Sachs Lewis A
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
3,178,251.00
6
Shared Voting Power
0.00
7
Sole Dispositive Power
3,178,251.00
8
Shared Dispositive Power
0.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
3,178,251.00
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)
9.9 %
12
Type of Reporting Person (See Instructions)
IN
Comment for Type of Reporting Person: The shares of Class A common stock and percent of class reported herein include 1,095,351 shares of Class A common stock acquired by GPC Elevate following June 30, 2026 upon its exercise of anti-dilution conversion rights under the Issuer's Amended and Restated Certificate of Incorporation, pursuant to which GPC Elevate converted an equal number of its Class B common stock into shares of Class A common stock. Such conversion rights were triggered by the issuance of Class A common stock in the Issuer's initial public offering and certain other dilutive issuances of stock by the Company during the second quarter of 2026. GPC Elevate continues to hold 7,744,751 shares of Class B common stock that remain convertible into Class A common stock; however, the Issuer's Amended and Restated Certificate of Incorporation prohibits GPC Elevate from converting such shares to the extent such conversion would result in GPC Elevate beneficially owning more than 9.9% of the outstanding Class A common stock. As of June 30, 2026, prior to such conversion, the Reporting Persons beneficially owned 2,082,900 shares of Class A common stock, representing approximately 7.2% of the outstanding Class A common stock.
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 filed by:
(i) GPC Elevate;
(ii) Gallatin Point Capital LLC ("Gallatin Point");
(iii) GPC Partners GP LLC ("GPC GP");
(iv) Gallatin Point Holdings LP ("GPC Holdings");
(v) Matthew B. Botein; and
(vi) Lewis A. (Lee) Sachs.
GPC Elevate is the direct holder of the securities reported in this Schedule 13G. Gallatin Point is the manager of funds and accounts invested in GPC Elevate. GPC GP is the general partner of GPC Elevate, and GPC Holdings is the managing member of GPC GP. Messrs. Botein and Sachs are the Co-Founders and Managing Partners of the ultimate parent of GPC Holdings and collectively make voting and investment decisions on behalf of GPC Elevate.
(b)
Address or principal business office or, if none, residence:
The address of the principal business office of the Reporting Persons is 660 Steamboat Road, Greenwich CT 06830.
(c)
Citizenship:
GPC Elevate, Gallatin Point, GPC GP and GPC Holdings are incorporated under the laws of the State of Delaware. Messrs. Botein and Sachs are citizens of the United States of America.
(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:
As of August 14, 2026, GPC Elevate directly owns 3,178,251 shares of Class A common stock of the Issuer, representing approximately 9.9% of the outstanding Class A common stock. Gallatin Point, as the manager of funds and accounts invested in GPC Elevate, GPC GP, as the general partner of GPC Elevate, GPC Holdings, as the managing member of GPC GP, and Messrs. Botein and Sachs, as the Co-Founders and Managing Partners of the ultimate parent of GPC Holdings, may each be deemed to have voting and dispositive power over the shares held directly by GPC Elevate. The percent of class beneficially owned by the Reporting Persons as of August 14, 2026 is based upon 32,103,172 shares of Class A common stock outstanding, as disclosed by the Issuer to the Reporting Persons.
The shares of Class A common stock and percent of class reported herein include 1,095,351 shares of Class A common stock acquired by GPC Elevate following June 30, 2026 upon its exercise of anti-dilution conversion rights under the Issuer's Amended and Restated Certificate of Incorporation, pursuant to which GPC Elevate converted an equal number of its Class B common stock into shares of Class A common stock. Such conversion rights were triggered by the issuance of Class A common stock in the Issuer's initial public offering and certain other dilutive issuances of stock by the Company during the second quarter of 2026. GPC Elevate continues to hold 7,744,751 shares of Class B common stock that remain convertible into Class A common stock; however, the Issuer's Amended and Restated Certificate of Incorporation prohibits GPC Elevate from converting such shares to the extent such conversion would result in GPC Elevate beneficially owning more than 9.9% of the outstanding Class A common stock. As of June 30, 2026, prior to such conversion, the Reporting Persons beneficially owned 2,082,900 shares of Class A common stock, representing approximately 7.2% of the outstanding Class A common stock based upon 28,939,391 shares of Class A common stock outstanding following the Issuer's initial public offering, as reported in the Issuer's prospectus filed with the Securities and Exchange Commission on June 11, 2026.
(b)
Percent of class:
Item 4(a) is incorporated by reference.
(c)
Number of shares as to which the person has:
(i) Sole power to vote or to direct the vote:
GPC Elevate: 3,178,251
Gallatin Point: 3,178,251
GPC GP: 3,178,251
GPC Holdings: 3,178,251
Matthew Botein: 3,178,251
Lewis A. Sachs: 3,178,251
(ii) Shared power to vote or to direct the vote:
N/A
(iii) Sole power to dispose or to direct the disposition of:
GPC Elevate: 3,178,251
Gallatin Point: 3,178,251
GPC GP: 3,178,251
GPC Holdings: 3,178,251
Matthew Botein: 3,178,251
Lewis A. Sachs: 3,178,251
(iv) Shared power to dispose or to direct the disposition of:
N/A
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.