Alyeska reports 4.97% stake in Fractyl Health

Alyeska Investment Group, L.P. and related reporting persons report beneficial ownership of 7,619,046 shares of Fractyl Health, Inc. common stock, representing 4.97% of the class as of 12/31/2025.

Rhea-AI Filing Summary

Alyeska Investment Group, L.P. and related reporting persons report beneficial ownership of 7,619,046 shares of Fractyl Health, Inc. common stock, representing 4.97% of the class as of 12/31/2025. All voting and dispositive power over these shares is shared, with no sole authority reported.

The position consists of 3,809,523 shares of common stock and warrants to purchase 3,809,523 additional shares. The ownership percentage is based on 153,372,044 shares of common stock outstanding, as referenced from a company Form 8-K. The reporting persons certify the securities were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing control of Fractyl Health.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

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

Alyeska and related reporting persons report beneficial ownership of 7,619,046 Fractyl Health common shares, representing 4.97% of the outstanding class. This includes both currently held shares and shares underlying warrants, based on the company’s disclosed share count.

How is Alyeska’s 7,619,046-share position in GUTS structured?

Alyeska’s reported position consists of 3,809,523 Fractyl Health common shares plus warrants to purchase 3,809,523 additional shares. Both components are counted for beneficial ownership, giving them shared voting and dispositive power over the full reported amount.

What percentage of Fractyl Health’s stock does 7,619,046 shares represent?

The filing states that 7,619,046 beneficially owned shares represent 4.97% of Fractyl Health’s common stock. This percentage is calculated using 153,372,044 shares outstanding, as referenced from the company’s Form 8-K filed on January 5, 2026.

Did Alyeska acquire its GUTS stake to influence control of Fractyl Health?

The reporting persons certify the securities were acquired and are held in the ordinary course of business. They specifically state the holdings are not for the purpose of changing or influencing control of Fractyl Health or participating in any such transaction.

Who are the reporting persons in the Fractyl Health (GUTS) ownership filing?

The Schedule identifies Alyeska Investment Group, L.P., Alyeska Fund GP, LLC, and Anand Parekh as reporting persons. Alyeska entities are organized in Delaware, and Anand Parekh is a United States citizen, all sharing voting and dispositive power over the reported shares.

What does it mean that Alyeska owns 5 percent or less of GUTS?

The filing notes ownership of 5 percent or less of a class, with the reported stake at 4.97%. This indicates Alyeska’s beneficial ownership is below the 5% threshold that often triggers additional disclosure and regulatory considerations for large shareholders.

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

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Accepted by SEC EDGAR 02/17/2026 - 04:39 PM EST Learn about SEC filing dates

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)

Common Stock, $0.00001 par value per share

(Title of Class of Securities)

35168W103

(CUSIP Number)

12/31/2025

(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. 35168W103

1

Names of Reporting Persons

Alyeska Investment Group, 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 7,619,046.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 7,619,046.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

7,619,046.00

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)

4.97 %

12

Type of Reporting Person (See Instructions)

IA

SCHEDULE 13G

CUSIP No. 35168W103

1

Names of Reporting Persons

Alyeska Fund 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 0.00
6	Shared Voting Power 7,619,046.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 7,619,046.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

7,619,046.00

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)

4.97 %

12

Type of Reporting Person (See Instructions)

OO

SCHEDULE 13G

CUSIP No. 35168W103

1

Names of Reporting Persons

Anand Parekh

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 7,619,046.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 7,619,046.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

7,619,046.00

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)

4.97 %

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: (i) Alyeska Investment Group, L.P. (ii) Alyeska Fund GP, LLC (iii) Anand Parekh
(b)	Address or principal business office or, if none, residence: (i) 77 West Wacker Drive, 7th Floor, Chicago, IL 60601 (ii) 77 West Wacker Drive, 7th Floor, Chicago, IL 60601 (iii) 77 West Wacker Drive, 7th Floor, Chicago, IL 60601
(c)	Citizenship: (i) Alyeska Investment Group, L.P. - Delaware (ii) Alyeska Fund GP, LLC - Delaware (iii) Anand Parekh - United States of America
(d)	Title of class of securities: Common Stock, $0.00001 par value per share
(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: 7,619,046
(b)	Percent of class: 4.97%
(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: 7,619,046
	(iii) Sole power to dispose or to direct the disposition of: 0
	(iv) Shared power to dispose or to direct the disposition of: 7,619,046
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.

Alyeska Investment Group, L.P.

Signature:	Jason Bragg
Name/Title:	Jason Bragg | Chief Financial Officer
Date:	02/17/2026

Alyeska Fund GP, LLC

Signature:	Jason Bragg
Name/Title:	Jason Bragg | Chief Financial Officer
Date:	02/17/2026

Anand Parekh

Signature:	Anand Parekh
Name/Title:	Anand Parekh | Self
Date:	02/17/2026

Exhibit Information

The reporting persons are the beneficial owners of 3,809,523 shares of Common Stock of the Issuer and hold warrants to purchase 3,809,523 shares of the Issuer's Common Stock (the "Warrants"). The percentage calculation assumes that there are currently 153,372,044 outstanding Common Stock of the Issuer, based on the Issuer's Form 8-K filed with the Securities and Exchange Commission on January 5, 2026. JOINT FILING STATEMENT PURSUANT TO RULE 13d-1(k) The undersigned acknowledge and agree that the foregoing statement on SCHEDULE 13G/A, is filed on behalf of each of the undersigned and that all subsequent amendments to this statement on SCHEDULE 13G/A, shall be filed on behalf of each of the undersigned without the necessity of filing additional joint acquisition statements. The undersigned acknowledge that each shall be responsible for the timely filing of such amendments, and for the completeness and accuracy of the information concerning him or it contained therein, but shall not be responsible for the completeness and accuracy of the information concerning the others, except to the extent that he or it knows or has reason to believe that such information is inaccurate.