Affinity Asset Advisors and Michael Cho reported beneficial ownership of 15,635,484 shares of Ovid Therapeutics Inc. As of March 31, 2026, that holding represents approximately 9.1% of Ovid's common stock, including 4,999,166 shares issuable upon exercise of warrants. The filing states the adviser exercises sole voting and dispositive power over these shares pursuant to its role as investment manager and attributes the position to the adviser and Michael Cho.
Positive
None.
Negative
None.
Insights
Large passive stake disclosure by an investment manager; ownership includes warrant exercisable shares.
The filing documents a 9.1% position held by Affinity Asset Advisors via Affinity Healthcare Fund, LP, and notes 4,999,166 warrants included in the reported total as of March 31, 2026. This clarifies the composition of the position and voting/control attribution.
Future activity will depend on any exercise decisions by the Fund and any changes in beneficial ownership reported in subsequent filings; timing and cash treatment for any exercise are not stated in the excerpt.
Disclosure follows Schedule 13G/A mechanics; voting and dispositive powers are explicitly stated.
The statement attributes sole voting and dispositive power to the Adviser and Michael Cho, describing the adviser’s authority under an investment management agreement. The filing cites the calculation basis using 172,265,632 shares outstanding as of March 31, 2026.
Reporting persons signed the amendment on May 14, 2026; any changes in ownership or warrant exercises should appear in future amendments or Form 4/13D filings if conditions change.
Key Figures
Beneficially owned shares:15,635,484 sharesWarrants issuable:4,999,166 sharesPercent of class:9.1%+2 more
5 metrics
Beneficially owned shares15,635,484 sharesas of <date>March 31, 2026</date>
Warrants issuable4,999,166 sharesshares issuable upon exercise of Warrants held by the Fund
Percent of class9.1%based on 172,265,632 shares outstanding as of <date>March 31, 2026</date>
Shares outstanding (basis)172,265,632 sharesused to calculate percentage ownership as of <date>March 31, 2026</date>
Reported standalone outstanding167,266,466 sharesIssuer's Form 10-Q reported outstanding common stock as of <date>March 31, 2026</date>
"4,999,166 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.
Beneficial ownershipregulatory
"As of March 31, 2026, the Adviser and Mr. Cho beneficially own 15,635,484 shares"
Beneficial ownership means the person or entity that actually enjoys the benefits of owning shares or other assets — such as receiving dividends, voting rights, or price gains — even if the legal title is held in another name. For investors it matters because knowing who truly controls and profits from a company reveals who can influence decisions, exposes potential conflicts of interest or hidden concentration of power, and affects transparency and risk in the stock.
Schedule 13G/Aregulatory
"Amendment No. 2 ) Ovid Therapeutics Inc. Common Stock"
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.
Investment management agreementlegal
"exercises voting and investment power pursuant to an investment management agreement"
An investment management agreement is a written contract that hires a professional to make buying, selling and strategy decisions for an investment account or fund, and sets out their duties, fees, risk limits, performance measures and reporting requirements. It matters to investors because the agreement determines who controls the money, how much the service costs, what risks are allowed, and how success or failure is measured—think of it as the service contract that defines expectations and remedies for a hired portfolio manager.
What stake does Affinity Asset Advisors report in OVID?
Affinity Asset Advisors and Michael Cho report beneficial ownership of 15,635,484 shares of OVID common stock as of March 31, 2026, representing about 9.1% of the outstanding shares on that date.
Does the reported position include warrants or other exercisable securities?
Yes. The reported 15,635,484 shares figure includes 4,999,166 shares issuable upon exercise of warrants held by the fund, which are counted in the beneficial ownership total.
How was the percentage ownership calculated in the filing for OVID?
The 9.1% percentage is based on 172,265,632 shares of common stock outstanding as of March 31, 2026, combining stated outstanding shares and the 4,999,166 warrant‑issuable shares included by the filer.
Who has voting and dispositive power over these OVID shares?
The filing states the Adviser, Affinity Asset Advisors, LLC, exercises sole voting and sole dispositive power over the reported shares, and Michael Cho may be deemed a beneficial owner by virtue of his role with the Adviser.
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(Amendment No. 2)
Ovid Therapeutics Inc.
(Name of Issuer)
Common Stock, par value $0.001 per share
(Title of Class of Securities)
690469101
(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):
690469101
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
15,635,484.00
6
Shared Voting Power
0.00
7
Sole Dispositive Power
15,635,484.00
8
Shared Dispositive Power
0.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
15,635,484.00
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)
9.1 %
12
Type of Reporting Person (See Instructions)
IA, OO
SCHEDULE 13G
CUSIP Number(s):
690469101
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
15,635,484.00
6
Shared Voting Power
0.00
7
Sole Dispositive Power
15,635,484.00
8
Shared Dispositive Power
0.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
15,635,484.00
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)
9.1 %
12
Type of Reporting Person (See Instructions)
IN, HC
SCHEDULE 13G
Item 1.
(a)
Name of issuer:
Ovid Therapeutics Inc.
(b)
Address of issuer's principal executive offices:
441 Ninth Avenue, 14th Floor, New York, New York, 10001
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, par value $0.001 per share
(e)
CUSIP No.:
690469101
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 directly by the Fund.
As of March 31, 2026, the Adviser and Mr. Cho (collectively, the "Reporting Persons") beneficially own 15,635,484 shares of common stock, $0.001 par value per share ("Common Stock"), of Ovid Therapeutics Inc. (the "Issuer"), which amount includes 4,999,166 shares of Common Stock issuable upon the exercise of warrants to purchase shares of Common Stock ("Warrants") held directly by the Fund.
(b)
Percent of class:
As of March 31, 2026, the Reporting Persons beneficially own approximately 9.1% of the Common Stock outstanding.
The percentage disclosed above is based on 172,265,632 shares of Common Stock of the Issuer outstanding as of March 31, 2026, consisting of (a) 167,266,466 shares of Common Stock of the Issuer outstanding as of March 31, 2026, as set forth in the Issuer's Form 10-Q filed with the Securities and Exchange Commission on May 12, 2026, plus 4,999,166 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 15,635,484 shares of Common Stock, which amount includes 4,999,166 shares of Common Stock issuable upon the exercise of Warrants.
(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 15,635,484 shares of Common Stock, which amount includes 4,999,166 shares of Common Stock issuable upon the exercise of Warrants.
(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
