AQST US Equity

Aquestive Therapeutics, Inc.

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Health Care · Pharmaceutical Preparations · CIK 1398733 · FYE 1231

$3.60

-0.16 (-4.26%)

USD · as of 2026-07-29 · marketstack

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Institutional ownership· 13F filers holding AQST · 2026-Q1 methodology → sources →

180 holders

% of shares outstanding held

57.2%

Shares held (13F)

71,780,407

Reporting holders

180

Top holders

largest 100 of 180 · Δ vs 2025-Q4

#	Holder	Shares	Value	% of shares out	Δ QoQ
1	Bratton Capital Management, L.P.	9,810,9589.8M	$41M	7.82%	—
2	BlackRock, Inc.	7,509,0717.5M	$31M	5.99%	TRIM -3%
3	RTW INVESTMENTS, LP	7,426,4717.4M	$31M	5.92%	ADD 19%
4	VANGUARD CAPITAL MANAGEMENT LLC	4,443,6984.4M	$18M	3.54%	NEW†
5	FEDERATED HERMES, INC.	2,940,3392.9M	$12M	2.34%	ADD 45%
6	Balyasny Asset Management L.P.	2,900,5702.9M	$12M	2.31%	ADD 199%
7	STATE STREET CORP	2,546,1912.5M	$11M	2.03%	ADD 3%
8	SAMSARA BIOCAPITAL, LLC	2,500,0002.5M	$10M	1.99%	—
9	GEODE CAPITAL MANAGEMENT, LLC	2,408,1912.4M	$10M	1.92%	—
10	BANK OF AMERICA CORP /DE/	2,405,0502.4M	$10M	1.92%	ADD 99%
11	Sio Capital Management, LLC	1,922,8871.9M	$8M	1.53%	ADD 94%
12	MORGAN STANLEY	1,591,7921.6M	$7M	1.27%	TRIM -9%
13	Blue Owl Capital Holdings LP	1,347,9321.3M	$6M	1.07%	ADD 157%
14	TWO SIGMA INVESTMENTS, LP	1,139,4041.1M	$5M	0.91%	ADD 199%
15	Janney Montgomery Scott LLC	1,089,1101.1M	$5M	0.87%	—
16	COMMONWEALTH EQUITY SERVICES, LLC	1,082,6801.1M	$4M	0.86%	ADD 6%
17	WELLS FARGO & COMPANY/MN	1,034,6441.0M	$4M	0.82%	TRIM -13%
18	JANE STREET GROUP, LLC	1,030,0501.0M	$4M	0.82%	ADD 101%
19	WASATCH ADVISORS LP	878,316878,316	$4M	0.70%	ADD 29%
20	BNP PARIBAS FINANCIAL MARKETS	809,007809,007	$3M	0.64%	TRIM -31%
21	BARCLAYS PLC	799,163799,163	$3M	0.64%	ADD 134%
22	NORTHERN TRUST CORP	732,504732,504	$3M	0.58%	—
23	Propel Bio Management, LLC	710,988710,988	$3M	0.57%	NEW
24	VANGUARD PORTFOLIO MANAGEMENT LLC	691,750691,750	$3M	0.55%	NEW
25	VANGUARD FIDUCIARY TRUST CO	637,512637,512	$3M	0.51%	NEW
26	Walleye Capital LLC	584,977584,977	$2M	0.47%	ADD 103%
27	CITADEL ADVISORS LLC	565,203565,203	$2M	0.45%	—
28	Everstar Asset Management, LLC	553,181553,181	$2M	0.44%	ADD 60%
29	GOLDMAN SACHS GROUP INC	466,767466,767	$2M	0.37%	TRIM -49%
30	UBS Group AG	464,207464,207	$2M	0.37%	ADD 57%
31	Bracebridge Capital, LLC	459,216459,216	$2M	0.37%	—
32	DAFNA Capital Management LLC	368,415368,415	$2M	0.29%	—
33	STIFEL FINANCIAL CORP	359,903359,903	$1M	0.29%	TRIM -3%
34	SUSQUEHANNA INTERNATIONAL GROUP, LLP	337,635337,635	$1M	0.27%	TRIM -43%
35	Diametric Capital, LP	335,443335,443	$1M	0.27%	ADD 161%
36	WELLINGTON MANAGEMENT GROUP LLP	290,060290,060	$1M	0.23%	ADD 7%
37	Point72 Asset Management, L.P.	283,734283,734	$1M	0.23%	NEW
38	STATE OF WISCONSIN INVESTMENT BOARD	279,287279,287	$1M	0.22%	ADD 54%
39	AWM Investment Company, Inc.	270,400270,400	$1M	0.22%	NEW
40	CHARLES SCHWAB INVESTMENT MANAGEMENT INC	267,419267,419	$1M	0.21%	TRIM -11%
41	Bank of New York Mellon Corp	255,184255,184	$1M	0.20%	TRIM -5%
42	Nuveen, LLC	253,465253,465	$1M	0.20%	TRIM -30%
43	Rosalind Advisors, Inc.	250,000250,000	$1M	0.20%	NEW
44	Squarepoint Ops LLC	249,482249,482	$1M	0.20%	NEW
45	Latash Investments, LLC	243,134243,134	$1M	0.19%	—
46	Simplify Asset Management Inc.	234,279234,279	$972,258	0.19%	NEW
47	Hudson Bay Capital Management LP	234,000234,000	$971,100	0.19%	NEW
48	Russell Investments Group, Ltd.	226,163226,163	$938,577	0.18%	ADD 8%
49	Creative Planning	183,188183,188	$760,230	0.15%	ADD 25%
50	ALLIANCEBERNSTEIN L.P.	91,99091,990	$594,255	0.07%	—
51	Aquatic Capital Management LLC	141,350141,350	$586,602	0.11%	ADD 484%
52	RHUMBLINE ADVISERS	136,539136,539	$566,626	0.11%	ADD 2%
53	Bleakley Financial Group, LLC	135,767135,767	$563,433	0.11%	NEW
54	HighTower Advisors, LLC	104,652104,652	$434,306	0.08%	ADD 14%
55	Quantbot Technologies LP	103,446103,446	$429,301	0.08%	ADD 460%
56	Financial Engines Advisors L.L.C.	97,48397,483	$404,554	0.08%	—
57	DEUTSCHE BANK AG\	87,44887,448	$362,909	0.07%	ADD 5%
58	LPL Financial LLC	83,21383,213	$345,334	0.07%	TRIM -19%
59	Invesco Ltd.	82,75982,759	$343,449	0.07%	ADD 27%
60	XTX Topco Ltd	78,34178,341	$325,115	0.06%	NEW
61	PRICE T ROWE ASSOCIATES INC /MD/	72,51672,516	$301,000	0.06%	ADD 30%
62	CORSAIR CAPITAL MANAGEMENT, L.P.	70,00070,000	$290,500	0.06%	ADD 17%
63	BANK OF MONTREAL /CAN/	63,28963,289	$262,649	0.05%	TRIM -2%
64	JPMORGAN CHASE & CO	64,43864,438	$260,330	0.05%	TRIM -83%
65	Beacon Pointe Advisors, LLC	60,50060,500	$251,075	0.05%	NEW
66	Sugar Maple Asset Management, LLC	58,06058,060	$240,949	0.05%	ADD 6%
67	RAYMOND JAMES FINANCIAL INC	55,22255,222	$229,172	0.04%	ADD 120%
68	Schonfeld Strategic Advisors LLC	51,81751,817	$215,039	0.04%	ADD 176%
69	VERUS CAPITAL PARTNERS, LLC	51,62551,625	$214,245	0.04%	TRIM -15%
70	AQR CAPITAL MANAGEMENT LLC	51,59451,594	$214,116	0.04%	TRIM -16%
71	PRELUDE CAPITAL MANAGEMENT, LLC	51,05451,054	$211,874	0.04%	ADD 148%
72	AXQ CAPITAL, LP	47,96847,968	$199,067	0.04%	TRIM -15%
73	MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.	47,78347,783	$198,299	0.04%	—
74	OSAIC HOLDINGS, INC.	44,81144,811	$185,962	0.04%	TRIM -44%
75	MetLife Investment Management, LLC	44,40744,407	$184,289	0.04%	TRIM -24%
76	HBK Sorce Advisory LLC	42,54742,547	$183,803	0.03%	—
77	CITIGROUP INC	41,90741,907	$173,914	0.03%	TRIM -19%
78	Engineers Gate Manager LP	41,38341,383	$171,739	0.03%	NEW
79	Vanguard Global Advisers, LLC	38,48838,488	$159,725	0.03%	NEW
80	DAYMARK WEALTH PARTNERS, LLC	38,27838,278	$158,854	0.03%	ADD 9%
81	TRANSCEND CAPITAL ADVISORS, LLC	37,92837,928	$157,401	0.03%	NEW
82	OPPENHEIMER & CO INC	37,88537,885	$157,223	0.03%	NEW
83	LETKO, BROSSEAU & ASSOCIATES INC	35,32535,325	$146,599	0.03%	—
84	SUMMIT WEALTH & RETIREMENT PLANNING, INC.	35,00035,000	$145,250	0.03%	ADD 133%
85	PFG Investments, LLC	31,10131,101	$129,069	0.02%	TRIM -11%
86	TRUST POINT INC.	31,04831,048	$128,850	0.02%	ADD 29%
87	ROYAL BANK OF CANADA	28,95128,951	$120,000	0.02%	ADD 133%
88	Cambridge Investment Research Advisors, Inc.	28,31728,317	$118,000	0.02%	ADD 19%
89	MANUFACTURERS LIFE INSURANCE COMPANY, THE	27,92227,922	$115,876	0.02%	TRIM -12%
90	Police & Firemen's Retirement System of New Jersey	27,70027,700	$114,955	0.02%	—
91	NEW YORK STATE COMMON RETIREMENT FUND	27,30027,300	$113,295	0.02%	—
92	Y-Intercept (Hong Kong) Ltd	26,99226,992	$112,017	0.02%	NEW
93	MILLENNIUM MANAGEMENT LLC	25,85125,851	$107,282	0.02%	TRIM -98%
94	INTECH INVESTMENT MANAGEMENT LLC	25,71825,718	$106,730	0.02%	TRIM -24%
95	Penbrook Management LLC	25,56525,565	$106,094	0.02%	TRIM -39%
96	PROFUND ADVISORS LLC	25,38425,384	$105,344	0.02%	TRIM -13%
97	SEI INVESTMENTS CO	24,84524,845	$103,107	0.02%	TRIM -87%
98	INTERNATIONAL ASSETS INVESTMENT MANAGEMENT, LLC	22,89522,895	$94,556	0.02%	ADD 27%
99	Pure Financial Advisors, LLC	21,95021,950	$91,093	0.02%	NEW
100	China Universal Asset Management Co., Ltd.	21,65021,650	$89,848	0.02%	ADD 9%

† a filer this large appearing as NEW usually reflects a renamed or succeeded filing entity (the old name stops filing the same quarter) — not a brand-new position.

Rows rank by the value each filer reported — 13F filers price their own positions, so a holder with fewer shares can rank just above one with more.

Holder trends· top 15 holders · shares held over 6 quarters

green added · red trimmed

Holder

2024-Q4

2025-Q1

2025-Q2

2025-Q3

2025-Q4

2026-Q1

Latest value

Bratton Capital Management, L.P.

9.8M

$41M

BlackRock, Inc.

6.0M

5.9M

6.5M

7.8M

7.5M

$31M

RTW INVESTMENTS, LP

—

6.3M

7.4M

$31M

VANGUARD CAPITAL MANAGEMENT LLC

—

4.4M

$18M

FEDERATED HERMES, INC.

—

784K

2.0M

2.9M

$12M

Balyasny Asset Management L.P.

—

971K

2.9M

$12M

STATE STREET CORP

1.5M

1.6M

2.5M

$11M

SAMSARA BIOCAPITAL, LLC

—

2.5M

$10M

GEODE CAPITAL MANAGEMENT, LLC

1.7M

2.0M

2.1M

2.4M

$10M

BANK OF AMERICA CORP /DE/

690K

1.3M

1.2M

2.4M

$10M

Sio Capital Management, LLC

—

392K

947K

1.5M

993K

1.9M

$8M

MORGAN STANLEY

737K

1.5M

1.4M

1.8M

1.6M

$7M

Blue Owl Capital Holdings LP

900K

920K

1.3M

525K

1.3M

$6M

TWO SIGMA INVESTMENTS, LP

176K

372K

240K

—

381K

1.1M

$5M

Janney Montgomery Scott LLC

984K

1.1M

$5M

Shares reported each quarter by the largest current holders. Green = added vs the prior filing, red = trimmed, grey = roughly held; a dash is a quarter with no 13F on file (a gap is skipped, not read as an exit). 13F is filed up to 45 days after quarter-end. Up to 40 quarters (10 years) available — use the selector above.

Institutional footprint by quarter

Line breaks are honest gaps — quarters with no 13F record, or a suppressed % — never interpolated. % of shares outstanding uses today's share count for every quarter (the only count stored).

Quarter	Holders	Shares held	% shares out	Value held
2026-Q1	180	71,780,407	57.2%	$298M
2025-Q4	178	72,211,110	57.6%	$466M
2025-Q3	152	66,546,262	53.0%	$372M
2025-Q2	117	47,965,706	38.2%	$159M
2025-Q1	121	44,272,074	35.3%	$131M
2024-Q4	115	43,378,537	34.6%	$154M
2024-Q3	117	46,824,005	37.3%	$237M
2024-Q2	97

Short interest has its own tab now — open SI →

Source: SEC Form 13F — every institution manager (≥ $100M in 13F securities) reporting a long US-listed position, across ~10,250 filers over 10 years of history. 13F is long-only, US-listed, filed up to 45 days after quarter-end.

Activists & large holders· Schedule 13D/G beneficial owners · AQST

Large holders — 13G, passive (top 4 by % of class)

Holder	% of class	Type	As of
BRATTON DOUGLAS K	11.1%	Exempt	2024-12-31	SEC →
BlackRock, Inc.	6.4%	QII	2026-06-30	SEC →
RTW INVESTMENTS, LP	5.2%	QII	2025-09-30	SEC →
Venrock Healthcare Capital Partners III, L.P.	2.9%	Passive	2024-12-31	SEC →

Source: SEC Schedule 13D/13G structured XML. 13D = active intent; 13G filers report passively (Rule 13d-1(b) QII / 13d-1(c) Passive / 13d-1(d) Exempt) and are not activists. Percent and delta are the group aggregate the filing reports. Structured 13D/G coverage begins December 2024 (SEC XML mandate).

Institutional ownership· 13F filers holding AQST · 2026-Q1 methodology → sources →

180 holders

% of shares outstanding held

57.2%

Shares held (13F)

71,780,407

Reporting holders

180

Top holders

largest 100 of 180 · Δ vs 2025-Q4

#	Holder	Shares	Value	% of shares out	Δ QoQ
1	Bratton Capital Management, L.P.	9,810,9589.8M	$41M	7.82%	—
2	BlackRock, Inc.	7,509,0717.5M	$31M	5.99%	TRIM -3%
3	RTW INVESTMENTS, LP	7,426,4717.4M	$31M	5.92%	ADD 19%
4	VANGUARD CAPITAL MANAGEMENT LLC	4,443,6984.4M	$18M	3.54%	NEW†
5	FEDERATED HERMES, INC.	2,940,3392.9M	$12M	2.34%	ADD 45%
6	Balyasny Asset Management L.P.	2,900,5702.9M	$12M	2.31%	ADD 199%
7	STATE STREET CORP	2,546,1912.5M	$11M	2.03%	ADD 3%
8	SAMSARA BIOCAPITAL, LLC	2,500,0002.5M	$10M	1.99%	—
9	GEODE CAPITAL MANAGEMENT, LLC	2,408,1912.4M	$10M	1.92%	—
10	BANK OF AMERICA CORP /DE/	2,405,0502.4M	$10M	1.92%	ADD 99%
11	Sio Capital Management, LLC	1,922,8871.9M	$8M	1.53%	ADD 94%
12	MORGAN STANLEY	1,591,7921.6M	$7M	1.27%	TRIM -9%
13	Blue Owl Capital Holdings LP	1,347,9321.3M	$6M	1.07%	ADD 157%
14	TWO SIGMA INVESTMENTS, LP	1,139,4041.1M	$5M	0.91%	ADD 199%
15	Janney Montgomery Scott LLC	1,089,1101.1M	$5M	0.87%	—
16	COMMONWEALTH EQUITY SERVICES, LLC	1,082,6801.1M	$4M	0.86%	ADD 6%
17	WELLS FARGO & COMPANY/MN	1,034,6441.0M	$4M	0.82%	TRIM -13%
18	JANE STREET GROUP, LLC	1,030,0501.0M	$4M	0.82%	ADD 101%
19	WASATCH ADVISORS LP	878,316878,316	$4M	0.70%	ADD 29%
20	BNP PARIBAS FINANCIAL MARKETS	809,007809,007	$3M	0.64%	TRIM -31%
21	BARCLAYS PLC	799,163799,163	$3M	0.64%	ADD 134%
22	NORTHERN TRUST CORP	732,504732,504	$3M	0.58%	—
23	Propel Bio Management, LLC	710,988710,988	$3M	0.57%	NEW
24	VANGUARD PORTFOLIO MANAGEMENT LLC	691,750691,750	$3M	0.55%	NEW
25	VANGUARD FIDUCIARY TRUST CO	637,512637,512	$3M	0.51%	NEW
26	Walleye Capital LLC	584,977584,977	$2M	0.47%	ADD 103%
27	CITADEL ADVISORS LLC	565,203565,203	$2M	0.45%	—
28	Everstar Asset Management, LLC	553,181553,181	$2M	0.44%	ADD 60%
29	GOLDMAN SACHS GROUP INC	466,767466,767	$2M	0.37%	TRIM -49%
30	UBS Group AG	464,207464,207	$2M	0.37%	ADD 57%
31	Bracebridge Capital, LLC	459,216459,216	$2M	0.37%	—
32	DAFNA Capital Management LLC	368,415368,415	$2M	0.29%	—
33	STIFEL FINANCIAL CORP	359,903359,903	$1M	0.29%	TRIM -3%
34	SUSQUEHANNA INTERNATIONAL GROUP, LLP	337,635337,635	$1M	0.27%	TRIM -43%
35	Diametric Capital, LP	335,443335,443	$1M	0.27%	ADD 161%
36	WELLINGTON MANAGEMENT GROUP LLP	290,060290,060	$1M	0.23%	ADD 7%
37	Point72 Asset Management, L.P.	283,734283,734	$1M	0.23%	NEW
38	STATE OF WISCONSIN INVESTMENT BOARD	279,287279,287	$1M	0.22%	ADD 54%
39	AWM Investment Company, Inc.	270,400270,400	$1M	0.22%	NEW
40	CHARLES SCHWAB INVESTMENT MANAGEMENT INC	267,419267,419	$1M	0.21%	TRIM -11%
41	Bank of New York Mellon Corp	255,184255,184	$1M	0.20%	TRIM -5%
42	Nuveen, LLC	253,465253,465	$1M	0.20%	TRIM -30%
43	Rosalind Advisors, Inc.	250,000250,000	$1M	0.20%	NEW
44	Squarepoint Ops LLC	249,482249,482	$1M	0.20%	NEW
45	Latash Investments, LLC	243,134243,134	$1M	0.19%	—
46	Simplify Asset Management Inc.	234,279234,279	$972,258	0.19%	NEW
47	Hudson Bay Capital Management LP	234,000234,000	$971,100	0.19%	NEW
48	Russell Investments Group, Ltd.	226,163226,163	$938,577	0.18%	ADD 8%
49	Creative Planning	183,188183,188	$760,230	0.15%	ADD 25%
50	ALLIANCEBERNSTEIN L.P.	91,99091,990	$594,255	0.07%	—
51	Aquatic Capital Management LLC	141,350141,350	$586,602	0.11%	ADD 484%
52	RHUMBLINE ADVISERS	136,539136,539	$566,626	0.11%	ADD 2%
53	Bleakley Financial Group, LLC	135,767135,767	$563,433	0.11%	NEW
54	HighTower Advisors, LLC	104,652104,652	$434,306	0.08%	ADD 14%
55	Quantbot Technologies LP	103,446103,446	$429,301	0.08%	ADD 460%
56	Financial Engines Advisors L.L.C.	97,48397,483	$404,554	0.08%	—
57	DEUTSCHE BANK AG\	87,44887,448	$362,909	0.07%	ADD 5%
58	LPL Financial LLC	83,21383,213	$345,334	0.07%	TRIM -19%
59	Invesco Ltd.	82,75982,759	$343,449	0.07%	ADD 27%
60	XTX Topco Ltd	78,34178,341	$325,115	0.06%	NEW
61	PRICE T ROWE ASSOCIATES INC /MD/	72,51672,516	$301,000	0.06%	ADD 30%
62	CORSAIR CAPITAL MANAGEMENT, L.P.	70,00070,000	$290,500	0.06%	ADD 17%
63	BANK OF MONTREAL /CAN/	63,28963,289	$262,649	0.05%	TRIM -2%
64	JPMORGAN CHASE & CO	64,43864,438	$260,330	0.05%	TRIM -83%
65	Beacon Pointe Advisors, LLC	60,50060,500	$251,075	0.05%	NEW
66	Sugar Maple Asset Management, LLC	58,06058,060	$240,949	0.05%	ADD 6%
67	RAYMOND JAMES FINANCIAL INC	55,22255,222	$229,172	0.04%	ADD 120%
68	Schonfeld Strategic Advisors LLC	51,81751,817	$215,039	0.04%	ADD 176%
69	VERUS CAPITAL PARTNERS, LLC	51,62551,625	$214,245	0.04%	TRIM -15%
70	AQR CAPITAL MANAGEMENT LLC	51,59451,594	$214,116	0.04%	TRIM -16%
71	PRELUDE CAPITAL MANAGEMENT, LLC	51,05451,054	$211,874	0.04%	ADD 148%
72	AXQ CAPITAL, LP	47,96847,968	$199,067	0.04%	TRIM -15%
73	MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.	47,78347,783	$198,299	0.04%	—
74	OSAIC HOLDINGS, INC.	44,81144,811	$185,962	0.04%	TRIM -44%
75	MetLife Investment Management, LLC	44,40744,407	$184,289	0.04%	TRIM -24%
76	HBK Sorce Advisory LLC	42,54742,547	$183,803	0.03%	—
77	CITIGROUP INC	41,90741,907	$173,914	0.03%	TRIM -19%
78	Engineers Gate Manager LP	41,38341,383	$171,739	0.03%	NEW
79	Vanguard Global Advisers, LLC	38,48838,488	$159,725	0.03%	NEW
80	DAYMARK WEALTH PARTNERS, LLC	38,27838,278	$158,854	0.03%	ADD 9%
81	TRANSCEND CAPITAL ADVISORS, LLC	37,92837,928	$157,401	0.03%	NEW
82	OPPENHEIMER & CO INC	37,88537,885	$157,223	0.03%	NEW
83	LETKO, BROSSEAU & ASSOCIATES INC	35,32535,325	$146,599	0.03%	—
84	SUMMIT WEALTH & RETIREMENT PLANNING, INC.	35,00035,000	$145,250	0.03%	ADD 133%
85	PFG Investments, LLC	31,10131,101	$129,069	0.02%	TRIM -11%
86	TRUST POINT INC.	31,04831,048	$128,850	0.02%	ADD 29%
87	ROYAL BANK OF CANADA	28,95128,951	$120,000	0.02%	ADD 133%
88	Cambridge Investment Research Advisors, Inc.	28,31728,317	$118,000	0.02%	ADD 19%
89	MANUFACTURERS LIFE INSURANCE COMPANY, THE	27,92227,922	$115,876	0.02%	TRIM -12%
90	Police & Firemen's Retirement System of New Jersey	27,70027,700	$114,955	0.02%	—
91	NEW YORK STATE COMMON RETIREMENT FUND	27,30027,300	$113,295	0.02%	—
92	Y-Intercept (Hong Kong) Ltd	26,99226,992	$112,017	0.02%	NEW
93	MILLENNIUM MANAGEMENT LLC	25,85125,851	$107,282	0.02%	TRIM -98%
94	INTECH INVESTMENT MANAGEMENT LLC	25,71825,718	$106,730	0.02%	TRIM -24%
95	Penbrook Management LLC	25,56525,565	$106,094	0.02%	TRIM -39%
96	PROFUND ADVISORS LLC	25,38425,384	$105,344	0.02%	TRIM -13%
97	SEI INVESTMENTS CO	24,84524,845	$103,107	0.02%	TRIM -87%
98	INTERNATIONAL ASSETS INVESTMENT MANAGEMENT, LLC	22,89522,895	$94,556	0.02%	ADD 27%
99	Pure Financial Advisors, LLC	21,95021,950	$91,093	0.02%	NEW
100	China Universal Asset Management Co., Ltd.	21,65021,650	$89,848	0.02%	ADD 9%

† a filer this large appearing as NEW usually reflects a renamed or succeeded filing entity (the old name stops filing the same quarter) — not a brand-new position.

Rows rank by the value each filer reported — 13F filers price their own positions, so a holder with fewer shares can rank just above one with more.

Holder trends· top 15 holders · shares held over 6 quarters

green added · red trimmed

Holder

2024-Q4

2025-Q1

2025-Q2

2025-Q3

2025-Q4

2026-Q1

Latest value

Bratton Capital Management, L.P.

9.8M

$41M

BlackRock, Inc.

6.0M

5.9M

6.5M

7.8M

7.5M

$31M

RTW INVESTMENTS, LP

—

6.3M

7.4M

$31M

VANGUARD CAPITAL MANAGEMENT LLC

—

4.4M

$18M

FEDERATED HERMES, INC.

—

784K

2.0M

2.9M

$12M

Balyasny Asset Management L.P.

—

971K

2.9M

$12M

STATE STREET CORP

1.5M

1.6M

2.5M

$11M

SAMSARA BIOCAPITAL, LLC

—

2.5M

$10M

GEODE CAPITAL MANAGEMENT, LLC

1.7M

2.0M

2.1M

2.4M

$10M

BANK OF AMERICA CORP /DE/

690K

1.3M

1.2M

2.4M

$10M

Sio Capital Management, LLC

—

392K

947K

1.5M

993K

1.9M

$8M

MORGAN STANLEY

737K

1.5M

1.4M

1.8M

1.6M

$7M

Blue Owl Capital Holdings LP

900K

920K

1.3M

525K

1.3M

$6M

TWO SIGMA INVESTMENTS, LP

176K

372K

240K

—

381K

1.1M

$5M

Janney Montgomery Scott LLC

984K

1.1M

$5M

Institutional footprint by quarter

Line breaks are honest gaps — quarters with no 13F record, or a suppressed % — never interpolated. % of shares outstanding uses today's share count for every quarter (the only count stored).

Quarter	Holders	Shares held	% shares out	Value held
2026-Q1	180	71,780,407	57.2%	$298M
2025-Q4	178	72,211,110	57.6%	$466M
2025-Q3	152	66,546,262	53.0%	$372M
2025-Q2	117	47,965,706	38.2%	$159M
2025-Q1	121	44,272,074	35.3%	$131M
2024-Q4	115	43,378,537	34.6%	$154M
2024-Q3	117	46,824,005	37.3%	$237M
2024-Q2	97

Short interest has its own tab now — open SI →

Activists & large holders· Schedule 13D/G beneficial owners · AQST

Large holders — 13G, passive (top 4 by % of class)

Holder	% of class	Type	As of
BRATTON DOUGLAS K	11.1%	Exempt	2024-12-31	SEC →
BlackRock, Inc.	6.4%	QII	2026-06-30	SEC →
RTW INVESTMENTS, LP	5.2%	QII	2025-09-30	SEC →
Venrock Healthcare Capital Partners III, L.P.	2.9%	Passive	2024-12-31	SEC →

AQST US Equity☆

Institutional ownership· 13F filers holding AQST · 2026-Q1 methodology → sources →

Top holders

Holder trends· top 15 holders · shares held over 6 quarters

Institutional footprint by quarter

Activists & large holders· Schedule 13D/G beneficial owners · AQST

Institutional ownership· 13F filers holding AQST · 2026-Q1 methodology → sources →

Top holders

Holder trends· top 15 holders · shares held over 6 quarters

Institutional footprint by quarter

Activists & large holders· Schedule 13D/G beneficial owners · AQST

AQST US Equity