Lexeo Therapeutics, Inc. Schedule 13G/A reports that Balyasny Asset Management and related entities beneficially own 7,176,144 shares of Common Stock, representing 9.69% of the class. The filing states this position includes 5,586,529 shares issuable upon exercise of warrants subject to a "Beneficial Ownership Limitation," and cites 74,087,063 shares outstanding as of March 27, 2026.
The filing lists voting and dispositive authority as sole for the reported shares and identifies the reporting persons as Balyasny Asset Management L.P., BAM GP LLC, Balyasny Asset Management Holdings LP, Dames GP LLC, and Dmitry Balyasny. ADMF and APHC are named as the direct holders on whose behalf the reporting persons report ownership.
Positive
None.
Negative
None.
Insights
Large passive position reported with warrant-derived shares and a blocker.
The filing documents a 7,176,144 share beneficial position across affiliated entities, including 5,586,529 shares issuable upon warrant exercise. The warrants carry a Beneficial Ownership Limitation preventing exercises that would push ownership above 9.99%.
Holder decisions about exercising warrants will determine near-term dilution and voting power; subsequent filings would show any exercises or sales. Cash-flow treatment and intent for the holdings are not stated in the provided excerpt.
Ownership disclosed through layered entities; control lines are clearly stated.
The filing attributes sole voting and dispositive power to the reporting persons and explains the chain: BAM GP as general partner of BAM, BAM Holdings as sole member of BAM GP, Dames as general partner of BAM Holdings, and Mr. Balyasny as managing member of Dames.
This structure is typical for investment-manager reporting; any changes to voting arrangements or exercises of warrants would be reflected in future Section 13 filings.
Key Figures
Beneficial ownership:7,176,144 sharesPercent of class:9.69%Warrants issuable:5,586,529 shares+1 more
4 metrics
Beneficial ownership7,176,144 sharesIncludes warrant‑issuable shares reported by Balyasny entities
Percent of class9.69%Based on 74,087,063 shares outstanding as of March 27, 2026
Warrants issuable5,586,529 sharesShares issuable upon exercise of warrants included in the reported position
Shares outstanding74,087,063 sharesOutstanding as of March 27, 2026 (source: issuer Form 10‑K cited in the filing)
Key Terms
Beneficial Ownership Limitation, Warrants, Sole Dispositive Power
3 terms
Beneficial Ownership Limitationregulatory
"the Warrants are subject to a blocker which prevents the holder"
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
"5,586,529 shares issuable upon the exercise of 5,586,529 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.
Sole Dispositive Powerregulatory
"Sole Dispositive Power 7,176,144.00"
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.
What stake does Balyasny report in Lexeo Therapeutics (LXEO)?
Balyasny and affiliated entities report beneficial ownership of 7,176,144 shares, representing 9.69% of the class based on 74,087,063 shares outstanding as of March 27, 2026.
How many of the reported shares are exercisable from warrants?
The filing states 5,586,529 shares are issuable upon exercise of warrants, and these warrant-derived shares are included in the reported 7,176,144 share total.
Does the filing limit warrant exercises to avoid exceeding ownership thresholds?
Yes. The warrants are subject to a Beneficial Ownership Limitation that prevents exercise to the extent it would result in beneficial ownership above 9.99% of outstanding shares.
Who are the reporting persons named in the Schedule 13G/A?
The reporting persons are Balyasny Asset Management L.P., BAM GP LLC, Balyasny Asset Management Holdings LP, Dames GP LLC, and Dmitry Balyasny, with common principal business address in Chicago, IL.
Are the direct holders of the reported shares disclosed?
Yes. The filing identifies Atlas Diversified Master Fund, Ltd. (ADMF) and Atlas Private Holdings (Cayman) Ltd. (APHC) as the direct holders on whose behalf the reporting persons report beneficial ownership.
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(Amendment No. 3)
Lexeo Therapeutics, Inc.
(Name of Issuer)
Common Stock, par value $0.0001 per share
(Title of Class of Securities)
52886X107
(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):
52886X107
1
Names of Reporting Persons
Balyasny Asset Management 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
7,176,144.00
6
Shared Voting Power
0.00
7
Sole Dispositive Power
7,176,144.00
8
Shared Dispositive Power
0.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
7,176,144.00
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)
9.69 %
12
Type of Reporting Person (See Instructions)
IA, PN
SCHEDULE 13G
CUSIP Number(s):
52886X107
1
Names of Reporting Persons
BAM GP 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
7,176,144.00
6
Shared Voting Power
0.00
7
Sole Dispositive Power
7,176,144.00
8
Shared Dispositive Power
0.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
7,176,144.00
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)
9.69 %
12
Type of Reporting Person (See Instructions)
HC, OO
SCHEDULE 13G
CUSIP Number(s):
52886X107
1
Names of Reporting Persons
Balyasny Asset Management Holdings 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
7,176,144.00
6
Shared Voting Power
0.00
7
Sole Dispositive Power
7,176,144.00
8
Shared Dispositive Power
0.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
7,176,144.00
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)
9.69 %
12
Type of Reporting Person (See Instructions)
HC, PN
SCHEDULE 13G
CUSIP Number(s):
52886X107
1
Names of Reporting Persons
Dames GP 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
7,176,144.00
6
Shared Voting Power
0.00
7
Sole Dispositive Power
7,176,144.00
8
Shared Dispositive Power
0.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
7,176,144.00
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)
9.69 %
12
Type of Reporting Person (See Instructions)
HC, OO
SCHEDULE 13G
CUSIP Number(s):
52886X107
1
Names of Reporting Persons
Dmitry Balyasny
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
7,176,144.00
6
Shared Voting Power
0.00
7
Sole Dispositive Power
7,176,144.00
8
Shared Dispositive Power
0.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
7,176,144.00
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)
9.69 %
12
Type of Reporting Person (See Instructions)
HC, IN
SCHEDULE 13G
Item 1.
(a)
Name of issuer:
Lexeo Therapeutics, Inc.
(b)
Address of issuer's principal executive offices:
345 Park Avenue South, Floor 6, New York, NY, 10010, UNITED STATES
Item 2.
(a)
Name of person filing:
This statement is being filed by (1) Balyasny Asset Management L.P., a Delaware limited partnership ("BAM"), (2) BAM GP LLC, a Delaware limited liability company ("BAM GP"), (3) Balyasny Asset Management Holdings LP, a Delaware limited partnership ("BAM Holdings"), (4) Dames GP LLC, a Delaware limited liability company ("Dames"), and (5) Dmitry Balyasny, a United States citizen (collectively, the "Reporting Persons"). BAM GP is the General Partner of BAM. BAM Holdings is the Sole Member of BAM GP. Dames is the General Partner of BAM Holdings. Dmitry Balyasny is the Managing Member of Dames.
(b)
Address or principal business office or, if none, residence:
The principal business address of each of BAM, BAM GP, BAM Holdings, Dames, and Mr. Balyasny is located at 444 West Lake Street, 50th Floor, Chicago, IL 60606.
(c)
Citizenship:
(1) BAM is a Delaware limited partnership, (2) BAM GP is a Delaware limited liability company, (3) BAM Holdings is a Delaware limited partnership, (4) Dames is a Delaware limited liability company, and (5) Mr. Balyasny is a United States citizen.
(d)
Title of class of securities:
Common Stock, par value $0.0001 per share
(e)
CUSIP No.:
52886X107
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:
By virtue of its position as the investment manager of Atlas Diversified Master Fund, Ltd. ("ADMF"), the direct holder of the 454,440 shares of common stock, par value $0.0001 per share ("Shares"), reported herein, and by virtue of its position as the investment manager of Atlas Private Holdings (Cayman) Ltd ("APHC"), the direct holder of 6,721,674 Shares (including 5,586,529 shares issuable from the exercise of warrants), BAM may be deemed to exercise voting and investment power over such Shares held by ADMF and APHC and thus may be deemed to beneficially own such Shares. By virtue of its position as the General Partner of BAM, BAM GP may be deemed to exercise voting and investment power over the Shares held directly by ADMF and APHC and thus may be deemed to beneficially own such Shares. By virtue of its position as the Sole Member of BAM GP, BAM Holdings may be deemed to exercise voting and investment power over the Shares held directly by ADMF and APHC and thus may be deemed to beneficially own such Shares. By virtue of its position as the General Partner of BAM Holdings, Dames may be deemed to exercise voting and investment power over the Shares held directly by ADMF and APHC and thus may be deemed to beneficially own such Shares. By virtue of his position as the Managing Member of Dames, Mr. Balyasny may be deemed to exercise voting and investment power over the Shares held directly by ADMF and APHC and thus may be deemed to beneficially own such Shares.
(b)
Percent of class:
Each of the Reporting Persons may be deemed to be the beneficial owner of approximately 9.69% of the Shares, based on 74,087,063 Shares outstanding as of March 27, 2026, as reported in the Issuer's Form 10-K filed with the Securities and Exchange Commission on March 30, 2026. The report amount consists of 1,589,585 Shares and 5,586,529 Shares issuable upon the exercise of 5,586,529 Warrants subject to the Beneficial Ownership Limitation (as defined herein). The Warrants are subject to a blocker which prevents the holder from exercising the Warrants to the extent that, upon such exercise, the holder would beneficially own in excess of 9.99% of the Shares outstanding as a result of the exercise (the "Beneficial Ownership Limitation").
(c)
Number of shares as to which the person has:
(i) Sole power to vote or to direct the vote:
Each of the Reporting Persons has the sole power to dispose or to direct the disposition of 7,176,144 Shares (including 5,586,529 shares of Common Stock issuable upon exercise of Warrants).
(ii) Shared power to vote or to direct the vote:
0
(iii) Sole power to dispose or to direct the disposition of:
Each of the Reporting Persons has the sole power to dispose or to direct the disposition of 7,176,144 Shares (including 5,586,529 shares of Common Stock issuable upon exercise of Warrants).
(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.
ADMF and APHC, both Cayman Islands exempted companies that are investment management clients of BAM, have the right to receive dividends from, or the proceeds from the sale of, the reported securities.
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.
