Forge Global (FRGE): Kostka LLC group discloses over 7% ownership stake

Rhea-AI Filing Summary

Forge Global Holdings, Inc. disclosed that investment vehicle Kostka LLC and its managers Mark DeNatale and Vince Gubitosi collectively report beneficial ownership of a little over seven percent of the company’s common stock. Kostka LLC reports beneficial ownership of 977,987 shares, or 7.11% of Forge’s common stock, based on 13,756,621 shares outstanding. DeNatale reports beneficial ownership of 994,903 shares, or 7.23%, while Gubitosi reports 995,987 shares, or 7.24%, reflecting their direct holdings plus shares held through Kostka LLC and a related entity.

The filing classifies the stake as passive, with the reporting persons certifying that the securities were not acquired and are not held for the purpose of changing or influencing control of Forge Global. Voting and dispositive power over most of the shares is shared, underscoring their role as significant but non‑controlling shareholders.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

Forge Global Holdings, Inc.

(Name of Issuer)

Common Stock, $0.0001 par value per share

(Title of Class of Securities)

34629L103

(CUSIP Number)

07/01/2025

(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)

SCHEDULE 13G

CUSIP No. 34629L103

1

Names of Reporting Persons

Kostka 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 977,987.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 977,987.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

977,987.00

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)

7.11 %

12

Type of Reporting Person (See Instructions)

OO

Comment for Type of Reporting Person: Based on 13,756,621 shares of common stock, par value $0.0001 per share ("Common Stock") outstanding, as reported in the Issuer's quarterly report filed with the Securities and Exchange Commission on November 13, 2025. Includes 198,071 shares held by an entity controlled by the Reporting Person.

SCHEDULE 13G

CUSIP No. 34629L103

1

Names of Reporting Persons

Mark DeNatale

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 16,916.00
6	Shared Voting Power 977,987.00
7	Sole Dispositive Power 916.00
8	Shared Dispositive Power 977,987.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

994,903.00

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)

7.23 %

12

Type of Reporting Person (See Instructions)

IN

Comment for Type of Reporting Person: Based on 13,756,621 shares of Common Stock outstanding, as reported in the Issuer's quarterly report filed with the Securities and Exchange Commission on November 13, 2025. Includes 977,987 shares held by Kostka LLC, which is inclusive of 198,071 shares held by an entity controlled by Kostka LLC.

SCHEDULE 13G

CUSIP No. 34629L103

1

Names of Reporting Persons

Vince Gubitosi

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 18,000.00
6	Shared Voting Power 977,987.00
7	Sole Dispositive Power 2,000.00
8	Shared Dispositive Power 977,987.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

995,987.00

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)

7.24 %

12

Type of Reporting Person (See Instructions)

IN

Comment for Type of Reporting Person: Based on 13,756,621 shares of Common Stock outstanding, as reported in the Issuer's quarterly report filed with the Securities and Exchange Commission on November 13, 2025. Includes 977,987 shares held by Kostka LLC, which is inclusive of 198,071 shares held by an entity controlled by Kostka LLC.

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Forge Global Holdings, Inc.
(b)	Address of issuer's principal executive offices: 4 Embarcadero Center Floor 15 San Francisco CA 94105
Item 2.
(a)	Name of person filing: This Schedule 13G is being filed by (i) Kostka LLC, (ii) Mark DeNatale, who is a member and manager of Kostka LLC, and (iii) Vince Gubitosi, who is a manager of Kostka LLC (each of whom may be referred to herein as a "Reporting Person" and collectively as the "Reporting Persons"). The Reporting Persons are making this single, joint filing and the agreement among the Reporting Persons to file jointly is attached hereto as Exhibit 1.
(b)	Address or principal business office or, if none, residence: The principal business address of Kostka LLC is 108 Forest Ave, Locust Valley, NY 11560. The principal business address of Mark DeNatale and Vince Gubitosi is c/o Forge, Inc., 4 Embarcadero Center, Floor 15, San Francisco CA 94105.
(c)	Citizenship: Kostka LLC is a Delaware limited liability Company. Mark DeNatale and Vince Gubitosi are citizens of the United States.
(d)	Title of class of securities: Common Stock, $0.0001 par value per share
(e)	CUSIP No.: 34629L103
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: See Item 9 of each cover page.
(b)	Percent of class: See Item 11 of each cover page.
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: See Item 5 of each cover page.
	(ii) Shared power to vote or to direct the vote: See Item 6 of each cover page.
	(iii) Sole power to dispose or to direct the disposition of: See Item 7 of each cover page.
	(iv) Shared power to dispose or to direct the disposition of: See Item 8 of each cover page.
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 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.

Kostka LLC

Signature:	/s/ Mark DeNatale
Name/Title:	Mark DeNatale, Manager
Date:	12/04/2025

Mark DeNatale

Signature:	/s/ Mark DeNatale
Name/Title:	Mark DeNatale
Date:	12/04/2025

Vince Gubitosi

Signature:	/s/ Vince Gubitosi
Name/Title:	Vince Gubitosi
Date:	12/04/2025

FAQ

What stake in Forge Global Holdings (FRGE) does Kostka LLC report?

Kostka LLC reports beneficial ownership of 977,987 shares of Forge Global Holdings common stock, representing 7.11% of the outstanding shares based on 13,756,621 shares.

How many Forge Global (FRGE) shares does Mark DeNatale beneficially own?

Mark DeNatale reports beneficial ownership of 994,903 shares of Forge Global common stock, equal to 7.23% of the class, including 977,987 shares held by Kostka LLC and 198,071 shares held by an entity controlled by Kostka LLC.

What is Vince Gubitosis reported ownership in Forge Global (FRGE)?

Vince Gubitosi reports beneficial ownership of 995,987 shares of Forge Global common stock, or 7.24% of the outstanding shares, including 977,987 shares held by Kostka LLC and 198,071 shares held by an entity controlled by Kostka LLC.

On what share count is the reported Forge Global (FRGE) ownership based?

The reported ownership percentages are based on 13,756,621 shares of Forge Global common stock outstanding, as reported in the companys quarterly report filed with the SEC on November 13, 2025.

Is the Kostka LLC group seeking control of Forge Global (FRGE)?

No. The reporting persons certify that the Forge Global shares were not acquired and are not held for the purpose of changing or influencing control of the issuer, and are not held in connection with any transaction having that purpose or effect.

Who are the reporting persons in this Forge Global (FRGE) ownership filing?

The reporting persons are Kostka LLC, Mark DeNatale (a member and manager of Kostka LLC), and Vince Gubitosi (a manager of Kostka LLC). They have made a single, joint filing and reference a joint filing agreement as an exhibit.

How is voting and dispositive power over Forge Global (FRGE) shares allocated among the filers?

Kostka LLC reports shared voting and dispositive power over 977,987 shares. DeNatale and Gubitosi each report small amounts of sole voting and dispositive power over their directly held shares, and shared voting and dispositive power over the 977,987 shares held through Kostka LLC.