[SCHEDULE 13G/A] NextCure, Inc. Amended Passive Investment Disclosure
Affinity Asset Advisors holds 6.4% of NextCure
Affinity Asset Advisors, LLC and its managing member Michael Cho report beneficial ownership of 274,073 shares of NextCure, Inc. common stock as of June 30, 2026.
Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.
Affinity Asset Advisors, LLC and its managing member Michael Cho report beneficial ownership of 274,073 shares of NextCure, Inc. common stock as of June 30, 2026. This includes 232,113 shares issuable upon exercise of warrants, which are subject to a 9.99% Beneficial Ownership Limitation on NextCure’s outstanding shares after warrant exercise.
Based on an aggregate of 4,301,064 shares of common stock (including the warrant shares subject to the limitation), the reporting persons hold approximately 6.4% of the class. They have sole voting and dispositive power over all 274,073 shares and no shared voting or dispositive power.
Key Figures
Beneficial ownership shares:274,073 sharesWarrant shares included:232,113 sharesOwnership percentage:6.4%+3 more
6 metrics
Beneficial ownership shares274,073 sharesShares of NextCure common stock beneficially owned as of June 30, 2026
Warrant shares included232,113 sharesCommon shares issuable upon exercise of warrants included in beneficial ownership
Ownership percentage6.4%Percent of NextCure common stock class beneficially owned by the reporting persons
Shares deemed outstanding4,301,064 sharesTotal share count used to calculate beneficial ownership percentage as of June 30, 2026
Shares outstanding (per 10-Q)4,068,951 sharesNextCure common shares outstanding as of June 30, 2026, per Form 10-Q
Beneficial Ownership Limitation9.99%Ownership cap applied to warrant exercises relative to outstanding common shares
Key Terms
beneficially own, Beneficial Ownership Limitation, sole dispositive power, sole voting power, +1 more
5 terms
beneficially ownfinancial
"the Adviser may be deemed to beneficially own the securities reported herein"
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.
Beneficial Ownership Limitationfinancial
"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.
sole dispositive powerfinancial
"have sole power to dispose or to direct the disposition of 274,073 shares"
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.
sole voting powerfinancial
"have sole power to vote or to direct the vote of 274,073 shares"
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.
investment managerfinancial
"Affinity Asset Advisors, LLC (the "Adviser") is the investment manager of the Fund"
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What percentage of NextCure (NXTC) does Affinity Asset Advisors currently own?
Affinity Asset Advisors and Michael Cho beneficially own 6.4% of NextCure’s common stock as of June 30, 2026. This percentage is based on 4,301,064 shares deemed outstanding, including shares issuable upon exercise of warrants subject to a Beneficial Ownership Limitation.
How many NextCure (NXTC) shares does Affinity Asset Advisors report owning?
Affinity Asset Advisors and Michael Cho report beneficial ownership of 274,073 shares of NextCure common stock. This total includes 232,113 shares issuable upon exercise of warrants, with the remainder being currently outstanding common shares held for their fund.
What warrants position does Affinity hold in NextCure (NXTC)?
The reporting persons include 232,113 shares of NextCure common stock issuable upon exercise of warrants in their beneficial ownership. These warrants are constrained by a 9.99% Beneficial Ownership Limitation, restricting exercises that would push ownership above that level post-exercise.
What is the total share count used to calculate Affinity’s 6.4% stake in NextCure (NXTC)?
The 6.4% figure is calculated using 4,301,064 shares of NextCure common stock. This consists of 4,068,951 shares outstanding as of June 30, 2026, plus 232,113 shares issuable upon warrant exercise, after applying the Beneficial Ownership Limitation.
Who are the reporting persons in this NextCure (NXTC) Schedule 13G/A filing?
The reporting persons are Affinity Asset Advisors, LLC and Michael Cho. Affinity acts as investment manager to Affinity Healthcare Fund, LP, which directly holds the securities, and Michael Cho, as managing member of Affinity, may be deemed a beneficial owner of those securities.
What voting and dispositive powers does Affinity report over NextCure (NXTC) shares?
The reporting persons state they have sole voting power and sole dispositive power over 274,073 shares of NextCure common stock as of June 30, 2026. They report zero shared voting power and zero shared dispositive power over the issuer’s shares.
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(Amendment No. 4)
NextCure, Inc.
(Name of Issuer)
Common Stock, $0.001 par value per share
(Title of Class of Securities)
65343E207
(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):
65343E207
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
274,073.00
6
Shared Voting Power
0.00
7
Sole Dispositive Power
274,073.00
8
Shared Dispositive Power
0.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
274,073.00
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)
6.4 %
12
Type of Reporting Person (See Instructions)
IA, OO
SCHEDULE 13G
CUSIP Number(s):
65343E207
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
274,073.00
6
Shared Voting Power
0.00
7
Sole Dispositive Power
274,073.00
8
Shared Dispositive Power
0.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
274,073.00
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)
6.4 %
12
Type of Reporting Person (See Instructions)
IN, HC
SCHEDULE 13G
Item 1.
(a)
Name of issuer:
NextCure, Inc.
(b)
Address of issuer's principal executive offices:
9000 Virginia Manor Road, Suite 200, Beltsville, Maryland, 20705
Item 2.
(a)
Name of person filing:
Affinity Asset Advisors, LLC
Michael Cho
(b)
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, $0.001 par value per share
(e)
CUSIP No.:
65343E207
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 June 30, 2026, the Adviser and Mr. Cho (collectively, the "Reporting Persons") beneficially own 274,073 shares of common stock, $0.001 par value per share ("Common Stock"), of NextCure, Inc. (the "Issuer"), which amount includes 232,113 shares of Common Stock issuable upon 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 June 30, 2026, the Reporting Persons beneficially own approximately 6.4% of the Common Stock outstanding.
The percentages disclosed above are based on 4,301,064 shares of Common Stock of the Issuer outstanding as of June 30, 2026, consisting of (a) the 4,068,951 shares of Common Stock of the Issuer outstanding as of June 30, 2026, as set forth in the Issuer's Form 10-Q filed with the Securities and Exchange Commission (the "SEC") on August 6, 2026, and (b) 232,113 shares of Common Stock issuable upon the exercise of the Warrants, after giving effect to the Beneficial Ownership Limitation.
(c)
Number of shares as to which the person has:
(i) Sole power to vote or to direct the vote:
As of June 30, 2026, the Reporting Persons have sole power to vote or to direct the vote of 274,073 shares of Common Stock, which amount includes 232,113 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 June 30, 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 June 30, 2026, the Reporting Persons have sole power to dispose or to direct the disposition of 274,073 shares of Common Stock, which amount includes 232,113 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 June 30, 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
