$ARQT

$31.68 -$0.13 (0.41%) Close

$ARQT Overview Financial Statements SEC Filings Executives News Red Flags Capital Raising Ownership Insider Transactions Congressional Trades

Ownership

13F as of Q2 2026 · 125.7M shares outstanding

Who owns ARQT?

By type of holder

Institutions 100.0% Insiders 0.0% Everyone else 0.0%

Concentration Top 10 holders own 73.1%

Montanova Capital, LLC 9.9% · BlackRock, Inc. 8.4%

Institutional ownership

100.0%

0 pts vs last qtr

Institutional holders

269

+2 vs last qtr

Net shares bought

−785.5K

by institutions in Q2 2026

New / sold out

41 / 39

positions opened vs closed

How is ownership changing?

Institutions, last 8 quarters

Biggest buyers in Q2 2026

Orbimed Advisors LLC NEW +2.0M
D. E. Shaw & Co., Inc. +1.5M

Biggest sellers in Q2 2026

Gilder Gagnon Howe & Co LLC −3.0M
Marshall Wace, LLP −2.0M

Who is planning to sell?

Notices of proposed sale, last 12 months

$25.9M

59 notices from 15 people

Shares covered

991.1K

0.79% of the company

Arranged in advance

35%

of the value is under a 10b5-1 plan

Under a 10b5-1 plan No plan

Largest proposed sellers

Larry Todd Edwards Former officer $10.6M
Howard Welgus Director 10b5-1 $2.36M

Every notice on Red Flags →

A Form 144 is notice of a planned sale, not the sale itself. What insiders actually sold is on Insider Transactions.

Is your stake being diluted?

Diluted share count, FY2019–FY2025

+6802.8%

+102.54% a year

Each share's claim on the business

−98.6%

shrank without buying or selling a share

Spent on buybacks vs paid in stock

— vs $186M

over 7 fiscal years

Diluted shares, split-adjusted

Buybacks Stock-based comp

How patient are the owners?

Institutional shares by how long they've been held

5+ years45% 3–5 years29% 1–3 years16% Under 1 year11%

Quarterly turnover

14.1%

of institutional shares changed hands

Top 10 managers, median time held

5 years

Super Investors

Investment managers reporting ARQT on Form 13F

Holder	Shares	% of company	Change vs last qtr	Held since	% of their book
MC Montanova Capital, LLC	12.4M	9.89%	+110.0K (+0.9%)	2023	6.0%
Shares held by quarter Peak holding12.4M (Q2'26) Change over 8 quarters+1.7M Share of the company9.890% Montanova Capital, LLC's full portfolio →
B BlackRock, Inc.	10.5M	8.39%	+1.3M (+14.6%)	≤2021	0.0%
Shares held by quarter Peak holding10.5M (Q2'26) Change over 8 quarters+1.5M Share of the company8.390% BlackRock, Inc.'s full portfolio →

Montanova Capital, LLC

12.4M

% of company

9.89%

Change vs last qtr

+110.0K (+0.9%)

Held since

2023

BlackRock, Inc.

10.5M

% of company

8.39%

Change vs last qtr

+1.3M (+14.6%)

Held since

≤2021

28 more super investors behind a free account

See every manager holding Arcutis Biotherapeutics, Inc., how their position has changed, and how long they've held it.

Institutional Funds

Mutual funds and ETFs reporting ARQT on Form N-PORT; together they hold 27.9% of the company

Fund	Position value	Shares	% of company	% of the fund	As of
VT Vanguard Total Stock Market Index Fund Vanguard Index Funds	$93.5M	3.6M	2.84%	0.00%	June 30, 2026
IR iShares Russell 2000 ETF iShares Trust	$77M	2.9M	2.34%	0.09%	June 30, 2026

Vanguard Total Stock Market Index Fund

Vanguard Index Funds

Position value

$93.5M

% of company

2.84%

% of the fund

0.00%

As of

June 30, 2026

iShares Russell 2000 ETF

iShares Trust

Position value

$77M

% of company

2.34%

% of the fund

0.09%

As of

June 30, 2026

23 more funds behind a free account

See every fund holding Arcutis Biotherapeutics, Inc. and how much of the fund the position is.

Insiders and 5%+ holders

From Forms 3/4/5 and Schedules 13D/G

Holder	Shares	% of company	Change vs last qtr	8 quarters	Held since	% of their book
PJ Patrick J. Heron 5%+ holder 13D · 7.5%	8.9M	7.12%	—	—	—	—
This holder reports through Schedule 13D/G, not a quarterly 13F. Share of the company7.120% Disclosed stake13D · 7.5% View the 13D/G filing →
JN James N. Topper 5%+ holder 13D · 7.4%	8.8M	7.04%	—	—	—	—
This holder reports through Schedule 13D/G, not a quarterly 13F. Share of the company7.040% Disclosed stake13D · 7.4% View the 13D/G filing →

Patrick J. Heron

5%+ holder13D · 7.5%

8.9M

% of company

7.12%

Change vs last qtr

—

Held since

—

James N. Topper

5%+ holder13D · 7.4%

8.8M

% of company

7.04%

Change vs last qtr

—

Held since

—

33 more holders behind a free account

See every insider and 5%+ holder of Arcutis Biotherapeutics, Inc..

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