Replimune Group, Inc. is reported as having significant ownership by investment manager Montanova Capital, LLC and related parties. Montanova Capital and Aaron Cowen each report beneficial ownership of 6,609,000 shares of common stock, representing 7.9% of the class, with shared voting and dispositive power over those shares. Averill Master Fund, Ltd. reports beneficial ownership of 5,610,970 shares, or 6.7% of the common stock, also on a shared voting and dispositive basis. All of the shares reported are directly owned by advisory clients of Montanova Capital, with only Averill Master Fund, Ltd. identified as holding more than 5% of the class. The reporting persons state they disclaim beneficial ownership except to the extent of their pecuniary interest.
Positive
None.
Negative
None.
Key Figures
Montanova beneficial ownership:6,609,000 sharesMontanova percent of class:7.9%Averill beneficial ownership:5,610,970 shares+3 more
6 metrics
Montanova beneficial ownership6,609,000 sharesBeneficially owned common stock reported for Montanova Capital, LLC
Montanova percent of class7.9%Percent of Replimune common stock class attributed to Montanova Capital, LLC
Averill beneficial ownership5,610,970 sharesBeneficially owned common stock reported for Averill Master Fund, Ltd.
Averill percent of class6.7%Percent of Replimune common stock class attributed to Averill Master Fund, Ltd.
Aaron Cowen beneficial ownership6,609,000 sharesBeneficially owned Replimune common shares reported for Aaron Cowen
Aaron Cowen percent of class7.9%Percent of Replimune common stock class attributed to Aaron Cowen
"None of those advisory clients, other than Averill Master Fund, Ltd., may be deemed to beneficially own more than 5%"
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.
shared voting powerfinancial
"Shared Voting Power 6,609,000.00"
Shared voting power occurs when two or more parties jointly have the right to vote or decide how a block of company shares is cast, like co-owners who must agree before moving a piece of furniture. Investors care because who controls voting rights affects board elections, major corporate decisions and takeover outcomes, and shared control can alter regulatory disclosures and the practical influence any holder has over a company’s direction and value.
shared dispositive powerfinancial
"Shared Dispositive Power 6,609,000.00"
pecuniary interestfinancial
"disclaims beneficial ownership of the reported securities except to the extent of his, her or its pecuniary interest"
parent holding companyfinancial
"Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company"
What percentage of Replimune Group, Inc. (REPL) does Montanova Capital report owning?
Montanova Capital, LLC reports beneficial ownership of 6,609,000 shares of Replimune common stock, representing 7.9% of the outstanding class, with shared voting and shared dispositive power over all of those shares.
How many Replimune (REPL) shares does Averill Master Fund, Ltd. beneficially own?
Averill Master Fund, Ltd. reports beneficial ownership of 5,610,970 shares of Replimune common stock, equal to 6.7% of the class, with shared voting and shared dispositive power over the same number of shares.
What is Aaron Cowen’s reported ownership stake in Replimune (REPL)?
Aaron Cowen is reported as beneficially owning 6,609,000 shares of Replimune common stock, representing 7.9% of the class, with shared voting and shared dispositive power over those shares and no sole voting or dispositive authority.
Who directly owns the Replimune (REPL) shares reported by Montanova Capital?
All securities reported are directly owned by advisory clients of Montanova Capital, LLC. Among those clients, only Averill Master Fund, Ltd. is identified as potentially beneficially owning more than 5% of Replimune’s common stock.
Do the reporting persons fully admit beneficial ownership of their Replimune (REPL) shares?
The reporting persons disclaim beneficial ownership of the Replimune securities except to the extent of their pecuniary interest, stating that the report should not be deemed an admission of beneficial ownership for any legal purpose.
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(Amendment No. 1)
Replimune Group, Inc.
(Name of Issuer)
Common Stock, par value $0.001 per share
(Title of Class of Securities)
76029N106
(CUSIP Number)
07/30/2026
(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):
76029N106
1
Names of Reporting Persons
Montanova Capital, 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
6,609,000.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
6,609,000.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
6,609,000.00
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)
7.9 %
12
Type of Reporting Person (See Instructions)
IA, OO
SCHEDULE 13G
CUSIP Number(s):
76029N106
1
Names of Reporting Persons
Averill Master Fund, Ltd.
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
CAYMAN ISLANDS
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
5,610,970.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
5,610,970.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
5,610,970.00
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)
6.7 %
12
Type of Reporting Person (See Instructions)
CO
SCHEDULE 13G
CUSIP Number(s):
76029N106
1
Names of Reporting Persons
Aaron Cowen
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
6,609,000.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
6,609,000.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
6,609,000.00
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)
7.9 %
12
Type of Reporting Person (See Instructions)
HC, IN
SCHEDULE 13G
Item 1.
(a)
Name of issuer:
Replimune Group, Inc.
(b)
Address of issuer's principal executive offices:
500 Unicorn Park Drive, Suite 303, Woburn, MA, 01801
Address or principal business office or, if none, residence:
Montanova Capital, LLC
11 E 26th Street, 16th Floor
New York, New York 10010
United States of America
Averill Master Fund, Ltd.
c/o Maples Corporate Services Limited
P.O. Box 309
Ugland House
Grand Cayman KY1-1104
Cayman Islands
Aaron Cowen
c/o Montanova Capital, LLC
11 E 26th Street, 16th Floor
New York, New York 10010
United States of America
(c)
Citizenship:
Montanova Capital, LLC - Delaware
Averill Master Fund, Ltd. - Cayman Islands
Aaron Cowen - United States
(d)
Title of class of securities:
Common Stock, par value $0.001 per share
(e)
CUSIP No.:
76029N106
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.
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.
All of the securities reported in this Schedule 13G are directly owned by advisory clients of Montanova Capital, LLC. None of those advisory clients, other than Averill Master Fund, Ltd., may be deemed to beneficially own more than 5% of the Common Stock, par value $0.001 per share.
Item 7.
Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
If a parent holding company has filed this schedule, pursuant to Rule 13d-1(b)(ii)(G), so indicate under Item 3(g) and attach an exhibit stating the identity and the Item 3 classification of the relevant subsidiary. If a parent holding company has filed this schedule pursuant to Rule 13d-1(c) or Rule 13d-1(d), attach an exhibit stating the identification of the relevant subsidiary.
Please see Exhibit B attached hereto.
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.
Montanova Capital, LLC
Signature:
/s/ Andrew Nathanson
Name/Title:
Andrew Nathanson, General Counsel and Chief Compliance Officer
Date:
08/06/2026
Averill Master Fund, Ltd.
Signature:
/s/ Andrew Nathanson
Name/Title:
Andrew Nathanson, Authorized Signatory
Date:
08/06/2026
Aaron Cowen
Signature:
/s/ Aaron Cowen
Name/Title:
Aaron Cowen
Date:
08/06/2026
Comments accompanying signature: * Each Reporting Person disclaims beneficial ownership of the reported securities except to the extent of his, her or its pecuniary interest therein, and this report shall not be deemed an admission that such Reporting Person is the beneficial owner of the securities for purposes of Section 16 of the Securities Exchange Act of 1934, as amended, or for any other purpose.
To the extent that "ownership of 5 percent or less of a class" was indicated in Item 5, such response only applies to the Reporting Person(s) that indicated elsewhere herein that it beneficially owns five percent (5%) or less of the class.
Exhibit Information
Exhibit A - Joint Filing Agreement
Exhibit B - Control Person Identification
