What smart money is saying about Forte Biosciences Inc.

Position history

Between Q2 2026 and Q3 2026, 3 fund letters reported a position in Forte Biosciences Inc., with 1 sell (trimmed or exited).

Bought and Sold count moves: the same sentence published by several funds of one house in a quarter counts once.

Fund activity · 3 positions · 1 move

• HoldsAlger Dynamic Opportunities Fund

  September 2026

  “• Forte Biosciences is a clinical-stage biopharmaceutical company developing FB102, an experimental treatment for autoimmune conditions including celiac disease, vitiligo and alopecia areata.”

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  Forte Biosciences Inc.
• ExitedAlger.com Small Cap Growth Fund

  September 2026

  “• Forte Biosciences is a clinical-stage biopharmaceutical company developing FB102, an experimental treatment for autoimmune conditions including celiac disease, vitiligo and alopecia areata. We view FB102 favorably as its differentiated approach could allow it to treat several diseases with significant unmet medical needs. Shares contributed positively during the quarter after a Phase 1b trial showed that FB102 produced a statistically significant improvement in patients with vitiligo while maintaining a favorable safety profile. The stock advanced further after a global immunology company agreed to acquire Forte, citing positive clinical evidence in both vitiligo and celiac disease and the treatment's potential across multiple autoimmune conditions. The acquisition, which closed in late August, validated our view that FB102 holds meaningful strategic value as its clinical profile became clearer.”

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  Forte Biosciences Inc.
• HoldsAlger.com Alger Small Cap Focus Fund

  June 2026

  “PORTFOLIO UPDATE Class A shares of the Alger Small Cap Focus Fund outperformed the Russell 2000 Growth Index during the second quarter of 2026. Nebius Group, Credo Technology Group, and Guardant Health, Inc. were among the top contributors to performance. • Nebius Group is a specialized AI infrastructure company that provides a full-stack platform, including GPU-accelerated cloud computing, to help enterprises build, train, and deploy large-scale artificial intelligence models. The company has positioned itself as a leading next-generation cloud provider purpose-built for machine learning and high-performance computing workloads. We believe the company’s appeal is anchored by its vertically integrated approach, which combines proprietary data center design with in-house software to deliver superior performance and lower operating costs compared to traditional GPU cloud providers. Shares contributed positively to performance after the company reported better-than-expected revenues, driven by surging demand for AI computing power. Nebius also announced a 1.2 gigawatt data center campus and closed a strategic acquisition that strengthened its model optimization capabilities. Portfolio Management Investment Strategy Invests in a focused portfolio of approximately 50 holdings of primarily small cap companies identified through our fundamental research as demonstrating promising growth potential. Seeks long-term capital appreciation. Amy Zhang, CFA Executive Vice President Portfolio Manager 31 Years Investment Experience Benchmark Russell 2000 Growth Index Ticker Symbols Class A AOFAX Class C AOFCX Class I AOFIX Class Y AOFYX Class Z AGOZX Standardized performance is available on page 3. C APITAL APPRE CIATION 2 /4 SMALL CAP FOCUS 2 / 3 2nd Quarter 2026 • Credo Technology provides high-speed connectivity solutions used to move data across AI data centers and hyperscale networks, including active electrical cables, optical digital signal processors, and PCIe retimers. As AI systems become larger and more complex, the need to move data quickly and efficiently between servers, GPUs, and networking equipment has become increasingly important. We believe Credo benefits from this growing connectivity challenge, with an expanding product portfolio that gives the company multiple opportunities to support next-generation data center architectures. During the quarter, shares contributed positively to performance as investors responded favorably to the company’s rapid revenue growth and rising demand from hyperscale customers. Investor sentiment was further supported by the view that Credo’s expanding product portfolio and recent silicon photonics capabilities could help the company remain well aligned with the evolving connectivity needs of AI data centers. • Guardant Health is a precision oncology company that develops blood-based liquid biopsy tests spanning therapy selection, recurrence monitoring, and early cancer detection, anchored by its Guardant360, Reveal, and Shield platforms. We continue to view the company as one of the more strategically positioned names in molecular diagnostics, with leadership in liquid biopsy supported by a deep clinical evidence base, an expanding set of companion diagnostic labels, and a credible runway toward free cash flow breakeven. Shares contributed positively to performance during the quarter, advancing on first-quarter results that prompted management to raise full-year 2026 revenue guidance, the inclusion of the Shield blood test in updated colorectal cancer screening guidelines, and regulatory approval of Guardant360 CDx as a companion diagnostic for Boehringer Ingelheim's Hernexeos. Karman Holdings Inc., GeneDx Holdings Corp., and Forte Biosciences Inc. were among the top detractors from performance.”

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  Forte Biosciences Inc.