Forager Fund Discloses 7.9% Stake in Oportun

Forager Fund group reports 3,514,856 shares beneficially owned of Oportun Financial Corporation.

Rhea-AI Filing Summary

Forager Fund group reports 3,514,856 shares beneficially owned of Oportun Financial Corporation. The joint filing by Forager Fund, L.P., Forager Capital Management, LLC, Edward Kissel and Robert MacArthur states aggregate ownership of 3,514,856 shares of Common Stock, representing 7.9% of the class based on 44,500,268 shares outstanding as of February 18, 2026. The Fund and its General Partner hold sole voting and dispositive power over the 3,514,856 shares; Messrs. Kissel and MacArthur report shared voting and dispositive power over the same amount. The filing is an amendment (Schedule 13G/A) and includes joint filing and power-of-attorney exhibits.

Insights

Institutional Ownership Analyst

Layered ownership shows a single investment vehicle at 7.9% of Oportun.

The Schedule 13G/A discloses that Forager Fund, L.P. and its general partner jointly hold 3,514,856 shares (7.9%) of Common Stock based on 44,500,268 shares outstanding as of February 18, 2026. The statement clarifies voting and dispositive arrangements: the Fund and General Partner have sole powers; two named individuals hold shared powers.

Implications depend on the Fund's intentions and future SEC filings; subsequent Form 13D or Form 4 filings would provide material updates if activism or transactions occur.

Corporate Governance Specialist

Voting and disposition structure concentrates formal control with the Fund and its GP.

The filing assigns sole voting and dispositive power to the Fund and Forager Capital Management, LLC for the full 3,514,856-share position, while Messrs. Kissel and MacArthur are listed with shared powers. This delineation matters for proxy and control analysis.

Monitor future disclosures for any changes to voting arrangements or shifts to direct ownership that could alter governance dynamics.

Key Figures

Shares beneficially owned: 3,514,856 shares Percent of class: 7.9% Shares outstanding (reference): 44,500,268 shares +1 more

4 metrics

Shares beneficially owned 3,514,856 shares aggregate holdings reported in Schedule 13G/A

Percent of class 7.9% based on 44,500,268 shares outstanding as of February 18, 2026

Shares outstanding (reference) 44,500,268 shares reported in issuer's Form 10-K for fiscal year ended December 31, 2025

Filing amendment date (signature) 04/21/2026 signature date on the Schedule 13G/A Amendment No. 1

Key Terms

beneficially own, sole voting power, shared dispositive power, Schedule 13G/A

4 terms

beneficially own regulatory

"Amount beneficially owned: The Reporting Persons, in the aggregate, beneficially own 3,514,856 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 voting power corporate

"Sole power to vote or to direct the vote: Each of the Fund and the General Partner has the sole power to vote"

Sole voting power is the exclusive right to cast votes attached to a shareholder’s stock without needing approval from anyone else. Like holding the only remote control for a TV, it lets that holder decide corporate matters such as board members, mergers, and policy changes, making it important to investors because it concentrates control and can strongly influence a company’s strategy and the value of its shares.

shared dispositive power corporate

"Shared power to dispose or to direct the disposition of: Messrs. Kissel and MacArthur has the shared power"

Schedule 13G/A regulatory

"This joint statement on /A is being filed by Forager Fund, L.P."

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.

FAQ

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

What stake does Forager Fund hold in Oportun (OPRT)?

Forager Fund holds 3,514,856 shares, equal to 7.9% of Oportun. The percentage is based on 44,500,268 shares outstanding as of February 18, 2026, per the issuer's Form 10-K filed for the fiscal year ended December 31, 2025.

Who filed the Schedule 13G/A for OPRT and where are they organized?

The filing was made by Forager Fund, L.P., Forager Capital Management, LLC, Edward Kissel and Robert MacArthur. The Fund and GP are organized in Delaware; Kissel and MacArthur are U.S. citizens. Business address is Birmingham, AL.

What voting and dispositive powers are reported in the 13G/A?

The Fund and its General Partner report sole voting and sole dispositive power over 3,514,856 shares. Messrs. Kissel and MacArthur report shared voting and shared dispositive power over the same 3,514,856 shares, per the amendment's ownership table.

On what outstanding share count is the 7.9% ownership based?

The 7.9% figure uses 44,500,268 shares outstanding. That outstanding share count is reported as of February 18, 2026 in Oportun's Annual Report on Form 10-K for the fiscal year ended December 31, 2025.

Does this Schedule 13G/A indicate an activist intent or plans to trade?

The filing documents beneficial ownership and power allocations only. It does not state any activist intent or planned transactions; any change in intent or material transactions would typically appear in subsequent SEC filings such as a 13D or Form 4.

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

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Accepted by SEC EDGAR 04/21/2026 - 04:51 PM EDT 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)

Oportun Financial Corporation

(Name of Issuer)

Common Stock, $0.0001 par value per share

(Title of Class of Securities)

68376D104

(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): 68376D104

1

Names of Reporting Persons

Forager 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 3,514,856.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 3,514,856.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

3,514,856.00

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)

7.9 %

12

Type of Reporting Person (See Instructions)

IA

SCHEDULE 13G

CUSIP Number(s): 68376D104

1

Names of Reporting Persons

Forager Fund, 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 3,514,856.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 3,514,856.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

3,514,856.00

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)

7.9 %

12

Type of Reporting Person (See Instructions)

PN

SCHEDULE 13G

CUSIP Number(s): 68376D104

1

Names of Reporting Persons

Kissel Edward Urban

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 3,514,856.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 3,514,856.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

3,514,856.00

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)

7.9 %

12

Type of Reporting Person (See Instructions)

HC, IN

SCHEDULE 13G

CUSIP Number(s): 68376D104

1

Names of Reporting Persons

MacArthur Robert Symmes

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 3,514,856.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 3,514,856.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

3,514,856.00

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)

7.9 %

12

Type of Reporting Person (See Instructions)

HC, IN

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Oportun Financial Corporation
(b)	Address of issuer's principal executive offices: 1825 South Grant Street, Suite 850, San Mateo, CA 94402
Item 2.
(a)	Name of person filing: This joint statement on Schedule 13G/A is being filed by Forager Fund, L.P., a Delaware limited partnership (the "Fund"), Forager Capital Management, LLC, a Delaware limited liability company and the general partner of the Fund (the "General Partner"), Edward Kissel and Robert MacArthur (collectively, the "Reporting Persons").
(b)	Address or principal business office or, if none, residence: The business address of each of the Reporting Persons is 2025 3rd Ave. N, Suite 350, Birmingham, AL 35203.
(c)	Citizenship: The Fund is a Delaware limited partnership. The General Partner is a Delaware limited liability company. Each of Messrs. Kissel and MacArthur is a citizen of the United States.
(d)	Title of class of securities: Common Stock, $0.0001 par value per share
(e)	CUSIP No.: 68376D104
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: The Reporting Persons, in the aggregate, beneficially own 3,514,856 shares of common stock, $0.0001 par value per share, of the Issuer ("Common Stock").
(b)	Percent of class: 7.9%. The percentages of beneficial ownership reported herein, and on each Reporting Person's cover page to this Schedule 13G/A, are based on a total of 44,500,268 shares of Common Stock issued and outstanding as of February 18, 2026, as reported in the Issuer's Annual Report on Form 10-K for its fiscal year ended December 31, 2025, filed with the Securities and Exchange Commission on February 27, 2026.
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: Each of the Fund and the General Partner has the sole power to vote or to direct the vote of 3,514,856 shares of Common Stock. Each of Messrs. Kissel and MacArthur has the sole power to vote or to direct the vote of 0 shares of Common Stock.
	(ii) Shared power to vote or to direct the vote: Each of the Fund and the General Partner has the shared power to vote or to direct the vote of 0 shares of Common Stock. Each of Messrs. Kissel and MacArthur has the shared power to vote or to direct the vote of 3,514,856 shares of Common Stock.
	(iii) Sole power to dispose or to direct the disposition of: Each of the Fund and the General Partner has the sole power to dispose or to direct the disposition of 3,514,856 shares of Common Stock. Each of Messrs. Kissel and MacArthur has the sole power to dispose or to direct the disposition of 0 shares of Common Stock.
	(iv) Shared power to dispose or to direct the disposition of: Each of the Fund and the General Partner has the shared power to dispose or to direct the disposition of 0 shares of Common Stock. Each of Messrs. Kissel and MacArthur has the shared power to dispose or to direct the disposition of 3,514,856 shares of Common Stock.
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.

Forager Capital Management, LLC

Signature:	/s/ Robert Symmes MacArthur
Name/Title:	Robert Symmes MacArthur / Managing Member
Date:	04/21/2026

Forager Fund, L.P.

Signature:	/s/ Robert Symmes MacArthur
Name/Title:	Robert Symmes MacArthur / Managing Member of the Sole General Partner
Date:	04/21/2026

Kissel Edward Urban

Signature:	/s/ Edward Urban Kissel
Name/Title:	Edward Urban Kissel
Date:	04/21/2026

MacArthur Robert Symmes

Signature:	/s/ Robert Symmes MacArthur
Name/Title:	Robert Symmes MacArthur
Date:	04/21/2026

Exhibit Information

Exhibit 24.1 - Power of Attorney, dated October 15, 2025, by Edward Kissel, incorporated herein by reference to Exhibit 24.1 of the Schedule 13G filed by the reporting persons with the Securities and Exchange Commission on October 15, 2025 (https://www.sec.gov/Archives/edgar/data/1720592/000110465926006144/tm263876d1_ex24-1.htm) Exhibit 24.2 - Power of Attorney, dated October 15, 2025, by Robert MacArthur, incorporated herein by reference to Exhibit 24.2 of the Schedule 13G filed by the reporting persons with the Securities and Exchange Commission on October 15, 2025 (https://www.sec.gov/Archives/edgar/data/1720592/000110465926006144/tm263876d1_ex24-2.htm) Exhibit 99.1 - Joint Filing Agreement, dated October 15, 2025, by and among the reporting persons, incorporated herein by reference to Exhibit 99.1 of the Schedule 13G filed by the reporting persons with the Securities and Exchange Commission on October 15, 2025 (https://www.sec.gov/Archives/edgar/data/1720592/000110465926006144/tm263876d1_ex99-1.htm)