Kezar Life Sciences disclosed a Schedule 13G/A amendment filed by Baselake Partners, LP, Baselake Management, LLC and David Paolella reporting zero beneficial ownership of the issuer's Common Stock (CUSIP 49372L209). The joint filing is signed by David Paolella and dated 05/28/2026.
Positive
None.
Negative
None.
Insights
Baselake group reports no holdings as of the amendment date.
The filing is a routine Schedule 13G/A amendment that lists Baselake Partners, Baselake Management, and David Paolella as joint filers and states 0 shares beneficially owned and 0% of the class.
Because the filing shows no ownership, there is no immediate shareholder influence or voting stake disclosed; subsequent filings would be required to show any change.
Key Figures
Filing type:Schedule 13G/AShares beneficially owned:0 sharesPercent of class:0%+2 more
"Item 1. Name of issuer: Kezar Life Sciences, Inc."
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.
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.
What does Kezar Life Sciences' Schedule 13G/A filed by Baselake Partners (KZR) state?
The filing states that Baselake Partners, Baselake Management, and David Paolella each report 0 shares beneficially owned and 0% of Kezar Life Sciences common stock, as shown in the joint amendment signed on 05/28/2026.
Does the Schedule 13G/A amendment indicate any change in Baselake's holdings of KZR?
The amendment reports zero beneficial ownership for Baselake Partners, Baselake Management, and David Paolella; the joint filing does not disclose any positive shareholdings or percentage stake as of 05/28/2026.
Who signed the Schedule 13G/A amendment for Kezar Life Sciences (KZR)?
The joint filing is signed three times by David Paolella in his capacities as Managing Member of Baselake Management, Managing Member, and individually, with all signatures dated 05/28/2026.
What is the CUSIP and class of securities referenced in the filing for KZR?
The filing identifies the security as Kezar Life Sciences Common Stock, par value $0.001 per share, with CUSIP 49372L209, as stated in Item 2(d)/(e) of the amendment.
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(Amendment No. 2)
Kezar Life Sciences, Inc.
(Name of Issuer)
Common Stock, $0.001 par value per share
(Title of Class of Securities)
49372L209
(CUSIP Number)
05/11/2026
(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):
49372L209
1
Names of Reporting Persons
Baselake Partners, 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
0.00
6
Shared Voting Power
0.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
0.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
0.00
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)
0 %
12
Type of Reporting Person (See Instructions)
PN
SCHEDULE 13G
CUSIP Number(s):
49372L209
1
Names of Reporting Persons
Baselake 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
0.00
6
Shared Voting Power
0.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
0.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
0.00
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)
0 %
12
Type of Reporting Person (See Instructions)
IA, OO
SCHEDULE 13G
CUSIP Number(s):
49372L209
1
Names of Reporting Persons
David Paolella
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
0.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
0.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
0.00
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)
0 %
12
Type of Reporting Person (See Instructions)
HC, IN
SCHEDULE 13G
Item 1.
(a)
Name of issuer:
Kezar Life Sciences, Inc.
(b)
Address of issuer's principal executive offices:
4000 Shoreline Court, Suite 300
South San Francisco, California 94080
Item 2.
(a)
Name of person filing:
Baselake Partners, LP
Baselake Management, LLC
David Paolella
(b)
Address or principal business office or, if none, residence:
3155 W. Big Beaver Road, Suite 207, Troy, Michigan 48084
(c)
Citizenship:
Baselake Partners, LP - Delaware
Baselake Management, LLC - Delaware
David Paolella - United States of America
(d)
Title of class of securities:
Common Stock, $0.001 par value per share
(e)
CUSIP No.:
49372L209
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).
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.
Baselake Partners, LP
Signature:
/s/ David Paolella
Name/Title:
David Paolella, Managing Member of Baselake Management, LLC, its investment manager
