Who owns Arcutis Biotherapeutics (ARQT)
Which tracked institutional funds hold ARQT, how they are positioned, and who is buying versus exiting — from SEC Form 13F-HR filings. See ARQT company fundamentals →
Ownership as of the 2026-Q2 13F filings (latest filed 2026-09-22). 13F is disclosed up to 45 days after quarter-end, so the most recent quarter fills in over the following weeks.
How the tape is positioned
90 tracked funds added or opened ARQT while 61 trimmed or exited it between 2026-Q1 and 2026-Q2 — the tape is split. When large holders disagree on a name, the funds moving first are sometimes ahead of the story.
A prompt to read the filings, not a verdict. 13F is a quarter-end snapshot disclosed up to 45 days late; a fund adds or exits for mandate, benchmark, and timing reasons that have nothing to do with a view on the stock. This is a starting question, not a signal to trade.
Conviction spread
ARQT’s largest tracked holder by dollar value, MONTANOVA CAPITAL, LLC, sizes it at 6.9% of its own reported 13F book, while the median holder sizes it at 0.0% of theirs — a 6.8pp conviction gap — its largest holder concentrates the name more heavily than the typical one.
Book-share is each fund’s reported value in ARQT divided by its whole reported 13F book, so it is comparable across funds of different sizes and is unaffected by stock splits. A higher share means a fund has committed more of its book to the name — a starting question about conviction, not a verdict or a signal to trade.
Institutional & insider positioning
Between 2026-Q1 and 2026-Q2, across 257 tracked filers holding ARQT, 132 increased or opened the position and 152 reduced or closed it; over the same quarter, open-market insider Form 4s were net sales.
This fuses two public signals for the same quarter — how tracked institutions changed their positions and whether insiders bought or sold in the open market. It describes what was filed; it is a starting question, not a verdict or a signal to trade.
New buyers & exits
Funds opening or closing a position in ARQT between the 2026-Q1 and 2026-Q2 13F filings, and the largest changes among funds holding it in both. New buyers and exits are counted on fund presence (split-invariant); adds and trims are measured on reported value.
New buyers 17
- ORBIMED ADVISORS LLC$54M
- Jupiter Topco LLC$37M
- Jones Hill Capital LP$29M
- Longaeva Partners L.P.$9M
- BALYASNY ASSET MANAGEMENT L.P.$6M
- PFM Health Sciences, LP$6M
Full exits 21
- JANUS HENDERSON GROUP PLC$44M
- GW&K Investment Management, LLC$23M
- MPM BIOIMPACT LLC$17M
- M&G PLC$11M
- ZEVENBERGEN CAPITAL INVESTMENTS LLC$8M
- Penn Capital Management Company, LLC$8M
Largest adds
- BlackRock, Inc.$60M
- D. E. Shaw & Co., Inc.$45M
- Polar Capital Holdings Plc$40M
- MONTANOVA CAPITAL, LLC$36M
- CITADEL ADVISORS LLC$30M
- Frazier Life Sciences Management, L.P.$26M
Largest trims
- GILDER GAGNON HOWE & CO LLC$67M
- MARSHALL WACE, LLP$45M
- Driehaus Capital Management LLC$29M
- Squarepoint Ops LLC$12M
- Eversept Partners, LP$10M
- RENAISSANCE TECHNOLOGIES LLC$9M
Institutional holders
One row per tracked fund, most shares held first (every row is from one quarter; reported value breaks ties). “% of value” is the fund’s share of this security’s tracked institutional value — not of shares outstanding.
| Fund | Shares | Reported value | % of value | Quarter |
|---|---|---|---|---|
| MONTANOVA CAPITAL, LLC added | 12,437,000 | $326M | 9.8% | 2026-Q2 |
| BlackRock, Inc. added | 10,545,466 | $277M | 8.3% | 2026-Q2 |
| Frazier Life Sciences Management, L.P. | 9,874,511 | $259M | 7.8% | 2026-Q2 |
| Rubric Capital Management LP | 8,271,577 | $217M | 6.5% | 2026-Q2 |
| Polar Capital Holdings Plc added | 6,606,945 | $173M | 5.2% | 2026-Q2 |
| STATE STREET CORP trimmed | 5,822,840 | $153M | 4.6% | 2026-Q2 |
| VANGUARD CAPITAL MANAGEMENT LLC added | 4,988,756 | $131M | 3.9% | 2026-Q2 |
| MORGAN STANLEY added | 4,451,014 | $117M | 3.5% | 2026-Q2 |
| JENNISON ASSOCIATES LLC trimmed | 4,219,058 | $111M | 3.3% | 2026-Q2 |
| D. E. Shaw & Co., Inc. added | 3,949,609 | $104M | 3.1% | 2026-Q2 |
| UBS Group AG added | 3,333,015 | $87M | 2.6% | 2026-Q2 |
| BANK OF AMERICA CORP /DE/ added | 2,987,431 | $78M | 2.4% | 2026-Q2 |
| GEODE CAPITAL MANAGEMENT, LLC trimmed | 2,982,446 | $78M | 2.4% | 2026-Q2 |
| VANGUARD PORTFOLIO MANAGEMENT LLC added | 2,429,005 | $64M | 1.9% | 2026-Q2 |
| ORBIMED ADVISORS LLC new | 2,042,000 | $54M | 1.6% | 2026-Q2 |
| FRANKLIN RESOURCES INC trimmed | 1,930,982 | $51M | 1.5% | 2026-Q2 |
| AMERICAN CENTURY COMPANIES INC added | 1,925,031 | $50M | 1.5% | 2026-Q2 |
| GOLDMAN SACHS GROUP INC added | 1,668,367 | $44M | 1.3% | 2026-Q2 |
| Jupiter Topco LLC new | 1,410,435 | $37M | 1.1% | 2026-Q2 |
| OBERWEIS ASSET MANAGEMENT INC/ added | 1,372,941 | $36M | 1.1% | 2026-Q2 |
| GILDER GAGNON HOWE & CO LLC trimmed | 1,313,211 | $34M | 1.0% | 2026-Q2 |
| Pivotal bioVenture Partners Investment Advisor LLC trimmed | 1,265,283 | $33M | 1.0% | 2026-Q2 |
| BAMCO INC /NY/ added | 1,253,120 | $33M | 1.0% | 2026-Q2 |
| CITADEL ADVISORS LLC added | 1,160,014 | $30M | 0.9% | 2026-Q2 |
| FEDERATED HERMES, INC. added | 1,124,629 | $29M | 0.9% | 2026-Q2 |
| Perpetual Ltd added | 1,109,657 | $29M | 0.9% | 2026-Q2 |
| Aberdeen Group plc added | 1,098,411 | $29M | 0.9% | 2026-Q2 |
| Jones Hill Capital LP new | 1,089,701 | $29M | 0.9% | 2026-Q2 |
| NORTHERN TRUST CORP added | 1,058,575 | $28M | 0.8% | 2026-Q2 |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC added | 1,050,934 | $28M | 0.8% | 2026-Q2 |
| Ensign Peak Advisors, Inc trimmed | 974,534 | $26M | 0.8% | 2026-Q2 |
| Candriam S.C.A. trimmed | 949,839 | $25M | 0.8% | 2026-Q2 |
| Driehaus Capital Management LLC trimmed | 878,426 | $23M | 0.7% | 2026-Q2 |
| Nuveen, LLC trimmed | 834,261 | $22M | 0.7% | 2026-Q2 |
| VANGUARD FIDUCIARY TRUST CO added | 815,138 | $21M | 0.6% | 2026-Q2 |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE added | 811,752 | $21M | 0.6% | 2026-Q2 |
| TWO SIGMA INVESTMENTS, LP added | 663,877 | $17M | 0.5% | 2026-Q2 |
| FISHMAN JAY A LTD/MI added | 595,005 | $16M | 0.5% | 2026-Q2 |
| MILLENNIUM MANAGEMENT LLC added | 564,072 | $15M | 0.4% | 2026-Q2 |
| BNP PARIBAS FINANCIAL MARKETS trimmed | 547,278 | $14M | 0.4% | 2026-Q2 |
| Squarepoint Ops LLC trimmed | 537,747 | $14M | 0.4% | 2026-Q2 |
| CAPITOLIS LIQUID GLOBAL MARKETS LLC | 500,000 | $13M | 0.4% | 2026-Q2 |
| Nearwater Capital Markets, Ltd trimmed | 486,700 | $13M | 0.4% | 2026-Q2 |
| ADAGE CAPITAL PARTNERS GP, L.L.C. added | 466,000 | $12M | 0.4% | 2026-Q2 |
| MARSHALL WACE, LLP trimmed | 446,866 | $12M | 0.4% | 2026-Q2 |
| Privium Fund Management B.V. added | 399,367 | $10M | 0.3% | 2026-Q2 |
| NORGES BANK trimmed | 392,300 | $10M | 0.3% | 2026-Q2 |
| DEUTSCHE BANK AG\ trimmed | 382,682 | $10M | 0.3% | 2026-Q2 |
| Patient Square Capital LP trimmed | 370,000 | $10M | 0.3% | 2026-Q2 |
| Point72 Asset Management, L.P. trimmed | 362,449 | $10M | 0.3% | 2026-Q2 |
| Qube Research & Technologies Ltd trimmed | 361,662 | $9M | 0.3% | 2026-Q2 |
| Longaeva Partners L.P. new | 344,796 | $9M | 0.3% | 2026-Q2 |
| AQR CAPITAL MANAGEMENT LLC trimmed | 330,324 | $9M | 0.3% | 2026-Q2 |
| Bank of New York Mellon Corp added | 330,094 | $9M | 0.3% | 2026-Q2 |
| FMR LLC added | 305,969 | $8M | 0.2% | 2026-Q2 |
| AMERIPRISE FINANCIAL INC added | 295,997 | $8M | 0.2% | 2026-Q2 |
| PEREGRINE CAPITAL MANAGEMENT LLC trimmed | 291,447 | $8M | 0.2% | 2026-Q2 |
| HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND trimmed | 284,789 | $7M | 0.2% | 2026-Q2 |
| FIRST TRUST ADVISORS LP trimmed | 284,065 | $7M | 0.2% | 2026-Q2 |
| Invesco Ltd. added | 264,907 | $7M | 0.2% | 2026-Q2 |
| Walleye Capital LLC added | 260,033 | $7M | 0.2% | 2026-Q2 |
| BALYASNY ASSET MANAGEMENT L.P. trimmed | 243,119 | $6M | 0.2% | 2026-Q2 |
| PFM Health Sciences, LP trimmed | 242,069 | $6M | 0.2% | 2026-Q2 |
| MYDA Advisors LLC | 240,000 | $6M | 0.2% | 2026-Q2 |
| Jump Financial, LLC added | 235,471 | $6M | 0.2% | 2026-Q2 |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC trimmed | 231,186 | $6M | 0.2% | 2026-Q2 |
| STATE OF WISCONSIN INVESTMENT BOARD added | 230,905 | $6M | 0.2% | 2026-Q2 |
| Swiss National Bank added | 224,000 | $6M | 0.2% | 2026-Q2 |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP added | 219,815 | $6M | 0.2% | 2026-Q2 |
| JUPITER ASSET MANAGEMENT LTD trimmed | 202,515 | $5M | 0.2% | 2026-Q2 |
| Pictet Asset Management Holding SA added | 200,275 | $5M | 0.2% | 2026-Q2 |
| KORNITZER CAPITAL MANAGEMENT INC /KS added | 199,683 | $5M | 0.2% | 2026-Q2 |
| Woodline Partners LP | 195,033 | $5M | 0.2% | 2026-Q2 |
| Pavaki Capital Management LLC | 187,000 | $5M | 0.1% | 2026-Q2 |
| PRINCIPAL FINANCIAL GROUP INC added | 183,662 | $5M | 0.1% | 2026-Q2 |
| Cormorant Asset Management, LP trimmed | 175,000 | $5M | 0.1% | 2026-Q2 |
| RHUMBLINE ADVISERS added | 170,542 | $4M | 0.1% | 2026-Q2 |
| Holocene Advisors, LP new | 163,732 | $4M | 0.1% | 2026-Q2 |
| PRICE T ROWE ASSOCIATES INC /MD/ trimmed | 157,778 | $4M | 0.1% | 2026-Q2 |
| VOLORIDGE INVESTMENT MANAGEMENT, LLC trimmed | 157,429 | $4M | 0.1% | 2026-Q2 |
| PDT Partners, LLC | 155,075 | $4M | 0.1% | 2026-Q2 |
| Vontobel Holding Ltd. added | 153,242 | $4M | 0.1% | 2026-Q2 |
| CITIGROUP INC added | 151,394 | $4M | 0.1% | 2026-Q2 |
| LOS ANGELES CAPITAL MANAGEMENT LLC trimmed | 137,929 | $4M | 0.1% | 2026-Q2 |
| ESSEX INVESTMENT MANAGEMENT CO LLC trimmed | 137,500 | $4M | 0.1% | 2026-Q2 |
| CASTLEARK MANAGEMENT LLC trimmed | 137,420 | $4M | 0.1% | 2026-Q2 |
| ALLIANCEBERNSTEIN L.P. added | 136,393 | $3M | 0.1% | 2026-Q2 |
| Eversept Partners, LP trimmed | 135,355 | $4M | 0.1% | 2026-Q2 |
| LAZARD ASSET MANAGEMENT LLC trimmed | 133,146 | $3M | 0.1% | 2026-Q2 |
| TUDOR INVESTMENT CORP ET AL added | 131,914 | $3M | 0.1% | 2026-Q2 |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM trimmed | 126,258 | $3M | 0.1% | 2026-Q2 |
| 1492 Capital Management LLC trimmed | 116,211 | $3M | 0.1% | 2026-Q2 |
| SEI INVESTMENTS CO trimmed | 114,253 | $3M | 0.1% | 2026-Q2 |
| Tejara Capital Ltd trimmed | 113,084 | $3M | 0.1% | 2026-Q2 |
| LPL Financial LLC trimmed | 111,150 | $3M | 0.1% | 2026-Q2 |
| WELLS FARGO & COMPANY/MN trimmed | 109,079 | $3M | 0.1% | 2026-Q2 |
| SCHRODER INVESTMENT MANAGEMENT GROUP | 104,356 | $3M | 0.1% | 2026-Q2 |
| Legal & General Group Plc added | 100,808 | $3M | 0.1% | 2026-Q2 |
| STEMPOINT CAPITAL LP trimmed | 98,945 | $3M | 0.1% | 2026-Q2 |
| JPMORGAN CHASE & CO trimmed | 97,966 | $3M | 0.1% | 2026-Q2 |
Ownership over time
Tracked institutional holder count and total shares held by filing quarter (independent scales). The curated-era tail and any mid-ingest latest quarter are handled honestly — a partial quarter is not drawn as a collapse.
Reading this table
Funds hold the same stock for different reasons — an index fund “holds” almost everything, an active manager sizes a name to a mandate and a benchmark, and each fund entered at its own price and time. Because 13F is filed up to 45 days after quarter-end, every row is a backward-looking snapshot; a manager may have traded since. Share-class siblings (a company’s A and C shares) are rolled up to one line so a dual-class name is never double-counted. Compare like-for-like. A large holder is not an endorsement, and a fund exiting is not a warning — this is a starting question, not a verdict.
About 13F filings
A Form 13F is a quarterly disclosure that institutional investment managers with over $100 million in US-listed equities must file with the SEC. In plain English: it is a snapshot of the long stock positions a fund held at the end of a quarter. It covers long US-listed equities only — not short positions, options, cash, or private holdings — and the funds shown are the large sample we track, not the complete 13F universe.