[SCHEDULE 13G/A] Real Brokerage Inc Amended Passive Investment Disclosure
Portolan reports 5.07% stake in Real Brokerage
Real Brokerage Inc received an updated ownership report from Portolan Capital Management, LLC and its manager, George McCabe, stating that they beneficially own 11,042,364 Common Shares of Real Brokerage Inc as of June 30, 2026.
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Real Brokerage Inc received an updated ownership report from Portolan Capital Management, LLC and its manager, George McCabe, stating that they beneficially own 11,042,364 Common Shares of Real Brokerage Inc as of June 30, 2026. This position represents 5.07% of the company’s outstanding Common Shares. Portolan, a registered investment adviser organized in Delaware, holds these shares in its capacity as investment manager for various clients, and McCabe reports indirect beneficial ownership as manager of Portolan. The Reporting Persons have sole voting and sole dispositive power over these shares, with no shared voting or dispositive power. Various underlying clients have rights to dividends or sale proceeds, but no single client holds more than five percent of the total outstanding Common Shares.
Key Figures
Beneficially owned shares:11,042,364 Common SharesOwnership percentage:5.07%Sole voting power:11,042,364.00+1 more
4 metrics
Beneficially owned shares11,042,364 Common SharesShares of Real Brokerage Inc beneficially owned as of June 30, 2026
Ownership percentage5.07%Percent of Real Brokerage Inc outstanding Common Shares beneficially owned
Sole voting power11,042,364.00Shares over which the Reporting Persons have sole power to vote
Sole dispositive power11,042,364.00Shares over which the Reporting Persons have sole power to dispose
Key Terms
beneficially owned, registered investment adviser, sole voting power, sole dispositive power, +1 more
5 terms
beneficially ownedfinancial
"shares Common Shares of the Issuer beneficially owned (1) directly by Portolan"
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.
registered investment adviserfinancial
"directly by Portolan Capital Management, LLC, a registered investment adviser"
A registered investment adviser (RIA) is a firm or individual legally registered with regulators to give personalized investment advice and manage clients' money, with a duty to put clients’ interests ahead of their own. Think of an RIA as a licensed financial guide who must disclose fees, conflicts and how they are paid; that transparency and legal duty matter to investors because it reduces the risk of hidden costs or biased recommendations.
sole voting powerfinancial
"5 | Sole Voting Power 11,042,364.00 6 | Shared Voting Power 0.00"
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.
sole dispositive powerfinancial
"7 | Sole Dispositive Power 11,042,364.00 8 | Shared Dispositive Power 0.00"
Sole dispositive power is the exclusive legal authority to decide what happens to a security — for example, whether to sell, transfer, or retain shares — without needing anyone else’s permission. Investors care because it signals who truly controls the economic outcome of an investment: like holding the only key to a safe, the holder can realize gains or losses and may trigger regulatory reporting, insider rules, or influence over corporate ownership.
percent of classfinancial
"Row 11 of the cover page for each of the Reporting Persons"
Percent of class is the portion of a specific category of securities—such as a company’s common shares, preferred shares, or a bond series—that takes part in or approves a corporate action (vote, consent, tender, etc.). Investors watch this number because it reveals how much support or opposition exists within that particular shareholder group; like counting how many members of a club back a proposal, it can determine whether a plan passes or how influence is distributed.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
How many Real Brokerage Inc (REAX) shares does Portolan Capital Management report owning?
Portolan Capital Management and George McCabe report beneficial ownership of 11,042,364 Common Shares of Real Brokerage Inc. These shares are held for various advisory clients over which Portolan has investment discretion and sole voting and dispositive power.
What percentage of Real Brokerage Inc (REAX) does Portolan Capital Management own?
Portolan Capital Management and George McCabe report holding 5.07% of Real Brokerage Inc’s outstanding Common Shares. This ownership level triggers Schedule 13G reporting as they exceed the five percent beneficial ownership threshold set by U.S. securities regulations.
Who are the reporting persons in this Schedule 13G/A for Real Brokerage Inc (REAX)?
The reporting persons are Portolan Capital Management, LLC, a Delaware- organized registered investment adviser, and George McCabe, its Manager. McCabe reports indirect beneficial ownership through his role at Portolan Capital Management, LLC.
What voting and dispositive powers does Portolan have over Real Brokerage Inc (REAX) shares?
Portolan Capital Management and George McCabe report sole voting power over 11,042,364 shares and sole dispositive power over 11,042,364 shares. They report no shared voting power and no shared dispositive power over Real Brokerage Inc’s Common Shares.
Do any Portolan clients individually own more than 5% of Real Brokerage Inc (REAX)?
The filing states that various persons have rights to dividends or sale proceeds from the shares, but that no one person’s interest in Real Brokerage Inc Common Shares exceeds five percent of the total outstanding Common Shares.
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(Amendment No. 2)
Real Brokerage Inc
(Name of Issuer)
Common Shares, no par value
(Title of Class of Securities)
75585H206
(CUSIP Number)
06/30/2026
(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):
75585H206
1
Names of Reporting Persons
Portolan 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
11,042,364.00
6
Shared Voting Power
0.00
7
Sole Dispositive Power
11,042,364.00
8
Shared Dispositive Power
0.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
11,042,364.00
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)
5.07 %
12
Type of Reporting Person (See Instructions)
IA
SCHEDULE 13G
CUSIP Number(s):
75585H206
1
Names of Reporting Persons
George McCabe
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
11,042,364.00
6
Shared Voting Power
0.00
7
Sole Dispositive Power
11,042,364.00
8
Shared Dispositive Power
0.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
11,042,364.00
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)
5.07 %
12
Type of Reporting Person (See Instructions)
IN
SCHEDULE 13G
Item 1.
(a)
Name of issuer:
Real Brokerage Inc
(b)
Address of issuer's principal executive offices:
701 Brickell Avenue, 17th Floor, Miami, FL 33131
Item 2.
(a)
Name of person filing:
This statement is being filed with respect to the shares Common Shares of the Issuer beneficially owned (1) directly by Portolan Capital Management, LLC, a registered investment adviser, in its capacity as investment manager for various clients, and (2) indirectly by George McCabe, the Manager of Portolan Capital Management, LLC. Portolan Capital Management, LLC and Mr. McCabe are sometimes individually referred to herein as a "Reporting Person" and collectively as the "Reporting Persons."
(b)
Address or principal business office or, if none, residence:
The address of the principal business office of each of the Reporting Persons is 2 International Place, FL 26, Boston, MA 02110
(c)
Citizenship:
Portolan Capital Management, LLC - DE
Mr. McCabe - USA
(d)
Title of class of securities:
Common Shares, no par value
(e)
CUSIP No.:
75585H206
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 information required by Item 4(a) is set forth in Row 9 of the cover page for each of the Reporting Persons and is incorporated by reference herein.
(b)
Percent of class:
The information required by Item 4(b) is set forth in Row 11 of the cover page for each of the Reporting Persons and is incorporated by reference herein.
(c)
Number of shares as to which the person has:
(i) Sole power to vote or to direct the vote:
The information required by Item 4(c)(i) is set forth in Row 5 of the cover page for each of the Reporting Persons and is incorporated by reference herein.
(ii) Shared power to vote or to direct the vote:
0
(iii) Sole power to dispose or to direct the disposition of:
The information required by Item 4(c)(iii) is set forth in Row 7 of the cover page for each of the Reporting Persons and is incorporated by reference herein.
(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.
If any other person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, such securities, a statement to that effect should be included in response to this item and, if such interest relates to more than 5 percent of the class, such person should be identified. A listing of the shareholders of an investment company registered under the Investment Company Act of 1940 or the beneficiaries of employee benefit plan, pension fund or endowment fund is not required.
Various persons have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, the Common Shares of Real Brokerage Inc. No one person's interest in the Common Shares of Real Brokerage Inc is more than five percent of the total outstanding Common Shares.
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.
