SilverArc and Devesh Gandhi report 3.6M shares in Fractyl Health (GUTS)

Rhea-AI Filing Summary

Fractyl Health Inc received an amended Schedule 13G/A reporting that SilverArc Capital Management, LLC and Devesh Gandhi beneficially own 3,606,386 shares of Class A Common Stock, representing 2.3% of the class. The filing lists shared voting and dispositive power over those shares.

Insights

Governance Analyst

Passive disclosure of a sub‑5% passive holder with shared control.

The amendment shows SilverArc and Devesh Gandhi reporting 3,606,386 shares as beneficially owned, with shared voting and dispositive power. The filing classifies the position as ownership of 5% or less.

Holding size and the shared power label suggest passive or collective control arrangements; subsequent filings would clarify any change in voting intent.

Regulatory Compliance Specialist

Schedules the required disclosure details and confirms reporting thresholds.

The Schedule 13G/A provides issuer CUSIP 35168W103 and identifies the reporting persons and principal address. It states beneficial ownership and the split of voting/dispositive powers as required by SEC rules.

No conditioning language or changes to ownership percentage are included in the excerpt.

Key Figures

Beneficial ownership: 3,606,386 shares Percent of class: 2.3% CUSIP: 35168W103 +2 more

5 metrics

Beneficial ownership 3,606,386 shares Class A Common Stock reported in Schedule 13G/A

Percent of class 2.3% Percent of Class A Common Stock reported

CUSIP 35168W103 Identifier for Class A Common Stock

Shared voting power 3,606,386 shares Number with shared voting power

Shared dispositive power 3,606,386 shares Number with shared dispositive power

Key Terms

Schedule 13G/A, beneficially owned, shared dispositive power

3 terms

Schedule 13G/A regulatory

"Amendment No. 1 ) Fractyl Health Inc Class A 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 owned financial

"Amount beneficially owned: 3606386"

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 dispositive power governance

"Shared Dispositive Power 3,606,386.00"

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 05/13/2026 - 04:20 PM Learn about SEC filing dates

FAQ

What stake does SilverArc report in Fractyl Health (GUTS)?

SilverArc reports beneficial ownership of 3,606,386 shares of Class A Common Stock, equal to 2.3% of the class. The filing lists shared voting and dispositive power over those shares and is filed as an amendment to schedule holdings.

Who are the reporting persons on the Schedule 13G/A for GUTS?

The filing names SilverArc Capital Management, LLC and Devesh Gandhi as the reporting persons. SilverArc is a Delaware LLC and Gandhi is a U.S. citizen; both are listed with the same reported beneficial position.

How is voting and dispositive power reported for these GUTS shares?

The amendment reports shared voting power of 3,606,386 shares and shared dispositive power of 3,606,386, with zero sole voting or sole dispositive power claimed by the reporting persons.

Does the Schedule 13G/A indicate control above 5% for GUTS?

No. The filing explicitly states the position is "Ownership of 5 percent or less of a class" and reports the percentage as 2.3%, which is below the 5% passive‑ownership threshold referenced in the form.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 1)

Fractyl Health Inc

(Name of Issuer)

Class A Common Stock

(Title of Class of Securities)

35168W103

(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): 35168W103

1

Names of Reporting Persons

SilverArc Capital 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 3,606,386.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 3,606,386.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

3,606,386.00

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)

2.3 %

12

Type of Reporting Person (See Instructions)

IA

SCHEDULE 13G

CUSIP Number(s): 35168W103

1

Names of Reporting Persons

Devesh Gandhi

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 0.00
6	Shared Voting Power 3,606,386.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 3,606,386.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

3,606,386.00

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)

2.3 %

12

Type of Reporting Person (See Instructions)

IN

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Fractyl Health Inc
(b)	Address of issuer's principal executive offices: 3 Van de Graaff Drive, Suite 200, Burlington, MA 01803
Item 2.
(a)	Name of person filing: SilverArc Capital Management, LLC ("SilverArc") and Devesh Gandhi ("Gandhi" and together with SilverArc, the "Reporting Persons")
(b)	Address or principal business office or, if none, residence: 20 Park Plaza, Suite 620 Boston, MA 02116
(c)	Citizenship: SilverArc is a Delaware limited liability company. Gandhi is a citizen of the United States.
(d)	Title of class of securities: Class A Common Stock
(e)	CUSIP No.: 35168W103
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: 3606386
(b)	Percent of class: 2.3 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 0
	(ii) Shared power to vote or to direct the vote: 3606386
	(iii) Sole power to dispose or to direct the disposition of: 0
	(iv) Shared power to dispose or to direct the disposition of: 3606386
Item 5.	Ownership of 5 Percent or Less of a Class.
	Ownership of 5 percent or less of a class
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.

SilverArc Capital Management, LLC

Signature:	Devesh S. Gandhi
Name/Title:	Sole Member of SilverArc Capital Management, LLC
Date:	05/13/2026

Devesh Gandhi

Signature:	Devesh S. Gandhi
Name/Title:	Sole Member of SilverArc Capital Management, LLC
Date:	05/13/2026