Jennison Reports 4.98M Shares (4.0%) in Arcus

Arcus Biotherapeutics reports that Jennison Associates LLC beneficially owns 4,980,770 shares of Common Stock, representing 4.0% of the class as reported.

Rhea-AI Filing Summary

Arcus Biotherapeutics reports that Jennison Associates LLC beneficially owns 4,980,770 shares of Common Stock, representing 4.0% of the class as reported. The filing lists sole voting power of 4,980,770 shares and shared dispositive power of 4,980,770. The filing is dated 03/31/2026 and signed on 05/06/2026.

Insights

Institutional Ownership Analyst

Jennison holds a passive, sub-5% stake with full voting power reported.

Jennison Associates LLC is recorded as beneficial owner of 4,980,770 shares, equal to 4.0% of the class, with sole voting power over those shares. The Schedule 13G/A structure typically indicates passive or qualifying investor status rather than activist intent.

Timing: the filing references 03/31/2026 and signature on 05/06/2026. Subsequent filings would show any material change above the 5% threshold.

Key Figures

Shares beneficially owned: 4,980,770 shares Percent of class: 4.0% Document date / signature: 03/31/2026 / 05/06/2026

3 metrics

Shares beneficially owned 4,980,770 shares reported beneficial ownership in Schedule 13G/A

Percent of class 4.0% percent of common stock reported

Document date / signature 03/31/2026 / 05/06/2026 filing date in header and signature date in block

Key Terms

Schedule 13G/A, Beneficially owned, Sole voting power

3 terms

Schedule 13G/A regulatory

"Amendment No. 5 ) ARCUTIS BIOTHERAPEUTICS 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.

Beneficially owned regulatory

"Item 4. | Ownership (a) | Amount beneficially owned: 4980770"

Beneficially owned describes securities or assets where a person has the economic rights and control—such as the right to receive dividends and to direct voting—even if legal title is held in another name. Think of it like having the keys and using a car that’s registered to someone else: you get the benefits and make decisions. Investors care because beneficial ownership reveals who truly controls value and voting power, affecting corporate decisions and takeover dynamics.

Sole voting power regulatory

"Sole Voting Power 4,980,770.00"

Sole voting power is the exclusive right to cast votes attached to a shareholder’s stock without needing approval from anyone else. Like holding the only remote control for a TV, it lets that holder decide corporate matters such as board members, mergers, and policy changes, making it important to investors because it concentrates control and can strongly influence a company’s strategy and the value of its shares.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What stake does Jennison Associates report in ARQT?

Jennison Associates LLC reports beneficial ownership of 4,980,770 shares, equal to 4.0% of Arcus Biotherapeutics' common stock. The Schedule 13G/A lists voting and dispositive powers as provided in the filing.

Does Jennison have voting control over its ARQT shares?

Yes. The filing shows sole voting power for 4,980,770 shares. It also reports shared dispositive power of the same share count as disclosed in the Schedule 13G/A.

What dates are relevant on this Schedule 13G/A for ARQT?

The document header includes 03/31/2026 and the signature block shows the filing was signed on 05/06/2026 by a Jennison representative, per the form's disclosure lines.

Is the Jennison filing indicative of activist intent in ARQT?

The Schedule 13G/A format normally reflects a passive or qualifying investor status rather than activist intent. The filing lists ownership and voting power but does not state any activist objectives or control actions.

Who signed the Schedule 13G/A for Jennison Associates?

The signature block lists Beata Markowicz, titled Senior Vice President, Compliance, and the signature date is 05/06/2026, as shown in the filing excerpt.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 05/06/2026 - 04:11 PM EDT Learn about SEC filing dates

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 5)

ARCUTIS BIOTHERAPEUTICS INC

(Name of Issuer)

Common Stock

(Title of Class of Securities)

03969K108

(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): 03969K108

1

Names of Reporting Persons

Jennison Associates 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 4,980,770.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 4,980,770.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

4,980,770.00

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)

4.0 %

12

Type of Reporting Person (See Instructions)

IA

SCHEDULE 13G

Item 1.
(a)	Name of issuer: ARCUTIS BIOTHERAPEUTICS INC
(b)	Address of issuer's principal executive offices: 3027 Townsgate Road, Suite 300, Westlake Village, CA 91361
Item 2.
(a)	Name of person filing: Jennison Associates LLC
(b)	Address or principal business office or, if none, residence: 55 East 52nd Street, New York, NY 10055
(c)	Citizenship: USA
(d)	Title of class of securities: Common Stock
(e)	CUSIP No.: 03969K108
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: 4980770
(b)	Percent of class: 4.0 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 4980770
	(ii) Shared power to vote or to direct the vote: 0
	(iii) Sole power to dispose or to direct the disposition of: 0
	(iv) Shared power to dispose or to direct the disposition of: 4980770
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.

Jennison Associates LLC

Signature:	Beata Markowicz
Name/Title:	Senior Vice President, Compliance
Date:	05/06/2026