[SCHEDULE 13G] FRACTYL HEALTH, INC. Passive Investment Disclosure (>5%)
Fractyl Health: Catalio reports 5.55% ownership
The reported position spans two investment funds and separately managed accounts, with voting and disposition power attributed to Catalio and its general partner's members.
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Fractyl Health, Inc. had 736,807 common shares reported as beneficially owned by Catalio Capital Management, LP, equal to 5.55% of the class as of September 30, 2026. The same beneficial-ownership position is also listed for Catalio Capital GP, LLC, R Jacob Vogelstein, and George Petrocheilos. Catalio says it has sole voting and dispositive power over the securities; Vogelstein and Petrocheilos are identified as sole members of its general partner with voting and dispositive power. Catalio managed shares held by Catalio Public Equities Fund, LP, Catalio Nexus Fund II, LP, and separately managed accounts.
Key Figures
Beneficial ownership:736,807 sharesPercent of class:5.55%Common shares outstanding:13,264,987 shares+3 more
6 metrics
Beneficial ownership736,807 sharesCatalio Capital Management, LP; as of September 30, 2026
Percent of class5.55%Catalio Capital Management, LP's beneficial ownership as of September 30, 2026
Common shares outstanding13,264,987 sharesAs of September 30, 2026
Catalio Public Equities Fund holdings205,768 sharesAs of September 30, 2026
Catalio Nexus Fund II holdings226,186 sharesAs of September 30, 2026
Separately managed account holdings304,853 sharesAs of September 30, 2026
Key Terms
beneficially own, sole power to vote, sole power to dispose, deemed issued and outstanding
4 terms
beneficially ownfinancial
"deemed to beneficially own 736,807 shares"
Beneficially own means having the economic rights and risks of a security—such as the right to receive dividends, sell the shares, or profit from price changes—whether or not your name appears on the official share register. Think of it like renting a car: you use it and reap the benefits even if the title lists someone else. Investors care because beneficial ownership determines who truly controls value, must be disclosed under securities rules, and can signal potential influence or trading activity that affects a stock’s price.
sole power to votefinancial
"Sole power to vote or to direct the vote"
sole power to disposefinancial
"Sole power to dispose or to direct the disposition"
deemed issued and outstandingfinancial
"Ordinary Shares deemed issued and outstanding as of September 30, 2026"
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
How many GUTS shares does Catalio report owning?
Catalio Capital Management, LP is reported as beneficially owning 736,807 Fractyl Health common shares, or 5.55% of the class, as of September 30, 2026. Catalio Capital GP, LLC, R Jacob Vogelstein, and George Petrocheilos are also listed in connection with that beneficial-ownership position.
How many Fractyl Health shares were outstanding when Catalio reported its stake?
Fractyl Health reported 13,264,987 common shares outstanding as of September 30, 2026, the date used for Catalio Capital Management's reported 5.55% ownership.
Which funds and accounts held Catalio's reported Fractyl Health shares?
Catalio Public Equities Fund, LP held 205,768 shares, Catalio Nexus Fund II, LP held 226,186 shares, and separately managed accounts held 304,853 shares as of September 30, 2026. Catalio Capital Management, LP served as investment manager to those funds and accounts.
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
FRACTYL HEALTH, INC.
(Name of Issuer)
Common Stock, $0.00001 par value per share
(Title of Class of Securities)
35168W202
(CUSIP Number)
09/30/2026
(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):
35168W202
1
Names of Reporting Persons
Catalio Capital Management, 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
736,807.00
6
Shared Voting Power
0.00
7
Sole Dispositive Power
736,807.00
8
Shared Dispositive Power
0.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
736,807.00
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)
5.6 %
12
Type of Reporting Person (See Instructions)
IA
SCHEDULE 13G
CUSIP Number(s):
35168W202
1
Names of Reporting Persons
Catalio Capital 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
736,807.00
6
Shared Voting Power
0.00
7
Sole Dispositive Power
736,807.00
8
Shared Dispositive Power
0.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
736,807.00
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)
5.6 %
12
Type of Reporting Person (See Instructions)
PN
SCHEDULE 13G
CUSIP Number(s):
35168W202
1
Names of Reporting Persons
Vogelstein R Jacob
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
736,807.00
6
Shared Voting Power
0.00
7
Sole Dispositive Power
736,807.00
8
Shared Dispositive Power
0.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
736,807.00
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)
5.6 %
12
Type of Reporting Person (See Instructions)
IN
SCHEDULE 13G
CUSIP Number(s):
35168W202
1
Names of Reporting Persons
Petrocheilos George C
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
GREECE
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
736,807.00
6
Shared Voting Power
0.00
7
Sole Dispositive Power
736,807.00
8
Shared Dispositive Power
0.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
736,807.00
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)
5.6 %
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, MASSACHUSETTS, 01803.
Item 2.
(a)
Name of person filing:
Catalio Capital Management, LP
(b)
Address or principal business office or, if none, residence:
512 W. 22nd Street, 5th Floor
New York, NY 10011
(c)
Citizenship:
Catalio Capital Management, LP is a Delaware limited partnership
(d)
Title of class of securities:
Common Stock, $0.00001 par value per share
(e)
CUSIP Number(s):
35168W202
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:
736,807
Catalio Capital Management, LP (?Catalio?) serves as the investment manager to Catalio Public Equities Fund, LP, a Delaware limited partnership (?Catalio Public Equities Fund?) and Catalio Nexus Fund II, LP a Delaware limited partnership (?Catalio Nexus Fund II?). Catalio is also the investment manager to separately managed accounts. Together, Catalio possesses the sole power to vote and the sole power to direct the disposition of all securities of Fractyl Health, Inc. (the ?Company?) held by Catalio Public Equities Fund, Catalio Nexus Fund II, and the separately managed accounts. R Jacob Vogelstein and Georgios Petrocheilos, are the sole members of Catalio Capital GP, LLC, the general partner of Catalio, and possess the voting and dispositive power with respect to all securities beneficially owned by Catalio.
As of September 30, 2026, The Company had 13,264,987 common stock ordinary shares, par value $0.00001 per share (the ?Ordinary Shares?) outstanding as reported on Form 8-K filed with the Securities and Exchange Commission on September 30, 2026. As of September 30, 2026, Catalio Public Equities Fund held 205,768 shares, Catalio Nexus Fund II held 226,186 shares, and the separately managed accounts held 304,853 shares of the Company. As a result of the foregoing, for purposes of Reg. Section 240.13d-3, Catalio Capital Management, LP is deemed to beneficially own 736,807 shares of the Company, representing 5.55% of the Company?s Ordinary Shares deemed issued and outstanding as of September 30, 2026.
(b)
Percent of class:
5.55%
(c)
Number of shares as to which the person has:
(i) Sole power to vote or to direct the vote:
736,807
(ii) Shared power to vote or to direct the vote:
0
(iii) Sole power to dispose or to direct the disposition of:
736,807
(iv) Shared power to dispose or to direct the disposition of:
0
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.
