Karyopharm Therapeutics Inc. ownership update: Affinity Asset Advisors, LLC and Michael Cho report beneficial ownership of 2,073,517 shares of Common Stock as of March 31, 2026. This holding represents 8.6% of the outstanding common shares, based on 24,116,833 shares outstanding as of March 30, 2026. The reported total includes 1,573,517 shares issuable upon exercise of warrants, which are subject to a 9.99% Beneficial Ownership Limitation.
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Insights
Large passive stake disclosed with warrant exposure and a 9.99% ownership cap.
The filing states Affinity Asset Advisors and Michael Cho beneficially own 2,073,517 shares, or 8.6%, based on 24,116,833 shares outstanding as of March 30, 2026. The position includes 1,573,517 warrant‑issued shares.
The Warrants carry a 9.99% Beneficial Ownership Limitation, which constrains conversion above that threshold. Subsequent filings will show whether and how the Fund elects to exercise warrants; timing and cash treatment are not disclosed in the excerpt.
Key Figures
Beneficially owned shares:2,073,517 sharesShares issuable upon exercise of warrants:1,573,517 sharesPercent of class:8.6%+2 more
5 metrics
Beneficially owned shares2,073,517 sharesas of March 31, 2026
Shares issuable upon exercise of warrants1,573,517 sharesincluded in the 2,073,517 total
Percent of class8.6%based on 24,116,833 shares outstanding as of March 30, 2026
Shares outstanding (base)24,116,833 sharesas of March 30, 2026
Beneficial Ownership Limitation9.99%applies to the Warrants
Key Terms
Beneficial Ownership Limitation, Warrants, Beneficially own
3 terms
Beneficial Ownership Limitationregulatory
"The Warrants are all subject to a beneficial ownership limitation of 9.99%"
A beneficial ownership limitation is a rule that caps the percentage of a company’s shares an investor can be treated as owning or controlling for voting, regulatory or tax purposes. It matters to investors because it can restrict how many shares a person or group can buy or vote, affect takeover chances, and influence share liquidity and value — like a speed limit that prevents any single driver from taking over the whole road.
Warrantsfinancial
"includes 1,573,517 shares of Common Stock issuable upon the exercise of warrants"
Warrants are special documents that give you the right to buy a company's stock at a set price before a certain date. They are often used as a way for companies to attract investors or raise money, and their value can increase if the company's stock price goes up.
Beneficially ownregulatory
"the Adviser and Mr. Cho beneficially own 2,073,517 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.
What stake does Affinity Asset Advisors report in KPTI?
Affinity Asset Advisors and Michael Cho report beneficial ownership of 2,073,517 shares, representing 8.6% of common stock outstanding as of March 30, 2026. This total includes 1,573,517 shares issuable upon exercise of warrants.
How many warrants are included in the reported KPTI holding?
The disclosure shows 1,573,517 shares issuable upon exercise of warrants held by the Fund. These warrant‑issued shares are counted within the 2,073,517 shares beneficially owned figure reported as of March 31, 2026.
What is the Beneficial Ownership Limitation affecting the warrants?
The filing states the Warrants are subject to a 9.99% Beneficial Ownership Limitation, which prevents conversion of warrants into shares above that ownership threshold in the Issuer immediately after giving effect to issuance.
What share count did the filing use as the outstanding base for the percentage?
The percentage calculation uses a base of 24,116,833 shares of Common Stock outstanding as of March 30, 2026, which includes 22,543,316 reported outstanding plus 1,573,517 shares issuable upon exercise of the Warrants.
Who holds voting and dispositive power over the reported shares?
Affinity Asset Advisors, as the Adviser, and Michael Cho report having sole voting and sole dispositive power over 2,073,517 shares, inclusive of the 1,573,517 warrant‑issuable shares, as of March 31, 2026.
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(Amendment No. 2)
Karyopharm Therapeutics Inc.
(Name of Issuer)
Common Stock, $0.0001 par value per share
(Title of Class of Securities)
48576U205
(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):
48576U205
1
Names of Reporting Persons
Affinity Asset Advisors, 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
2,073,517.00
6
Shared Voting Power
0.00
7
Sole Dispositive Power
2,073,517.00
8
Shared Dispositive Power
0.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
2,073,517.00
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)
8.6 %
12
Type of Reporting Person (See Instructions)
IA, OO
SCHEDULE 13G
CUSIP Number(s):
48576U205
1
Names of Reporting Persons
Michael Cho
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
2,073,517.00
6
Shared Voting Power
0.00
7
Sole Dispositive Power
2,073,517.00
8
Shared Dispositive Power
0.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
2,073,517.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
Address or principal business office or, if none, residence:
450 Park Avenue
Suite 1403
New York, NY 10022
(c)
Citizenship:
Affinity Asset Advisors, LLC is a Delaware limited liability company, and Michael Cho is an individual and is a citizen of the United States.
(d)
Title of class of securities:
Common Stock, $0.0001 par value per share
(e)
CUSIP No.:
48576U205
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 securities reported herein are directly held by Affinity Healthcare Fund, LP (the "Fund"). Affinity Asset Advisors, LLC (the "Adviser") is the investment manager of the Fund and exercises voting and investment power over the securities held directly by the Fund reported herein pursuant to an investment management agreement between the Adviser, the Fund, and the general partner of the Fund. The Adviser may be deemed to beneficially own the securities reported herein held by the Fund by virtue of its position as investment manager of the Fund. Michael Cho, the managing member of the Adviser, may be deemed a beneficial owner of the securities reported herein held by the Fund.
As of March 31, 2026, the Adviser and Mr. Cho (collectively, the "Reporting Persons") beneficially own 2,073,517 shares of Common Stock, $0.0001 par value per share ("Common Stock"), of Karyopharm Therapeutics Inc. (the "Issuer"), which amount includes 1,573,517 shares of Common Stock issuable upon the exercise of warrants (the "Warrants"). The Warrants are all subject to a beneficial ownership limitation of 9.99% of the number of shares of Common Stock of the Issuer outstanding immediately after giving effect to the issuance of the shares issuable upon exercise of the Warrants (the "Beneficial Ownership Limitation").
(b)
Percent of class:
As of March 31, 2026, the Reporting Persons beneficially own 8.6% of the Common Stock outstanding.
The percentages disclosed above are based on 24,116,833 shares of Common Stock of the Issuer outstanding as of March 30, 2026, consisting of (a) the 22,543,316 shares of Common Stock of the Issuer outstanding as of March 30, 2026, as set forth in the Issuer's Definitive Proxy Statement filed with the Securities and Exchange Commission on April 13, 2026, and (b) 1,573,517 shares of Common Stock issuable upon the exercise of Warrants held by the Fund.
(c)
Number of shares as to which the person has:
(i) Sole power to vote or to direct the vote:
As of March 31, 2026, the Reporting Persons have sole power to vote or to direct the vote of 2,073,517 shares of Common Stock, which amount includes 1,573,517 shares of Common Stock issuable upon the exercise of warrants after giving effect to the Beneficial Ownership Limitation.
(ii) Shared power to vote or to direct the vote:
As of March 31, 2026, the Reporting Persons have shared power to vote or to direct the vote of 0 shares of Common Stock.
(iii) Sole power to dispose or to direct the disposition of:
As of March 31, 2026, the Reporting Persons have sole power to dispose or to direct the disposition of 2,073,517 shares of Common Stock, which amount includes 1,573,517 shares of Common Stock issuable upon the exercise of warrants after giving effect to the Beneficial Ownership Limitation.
(iv) Shared power to dispose or to direct the disposition of:
As of March 31, 2026, the Reporting Persons have shared power to dispose or to direct the disposition of 0 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 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.
Affinity Asset Advisors, LLC
Signature:
/s/ Andrew Weinstein
Name/Title:
Andrew Weinstein, Chief Financial Officer and Chief Compliance Officer
