Prudential Financial, Inc. reported beneficial ownership of 7,079,926 shares of Arcutis Biotherapeutics, Inc. common stock, representing 5.7% of the class as of 12/31/2025.
Prudential has sole voting and dispositive power over 45,000 shares and shared voting power over 6,381,022 shares, with shared dispositive power over 7,034,926 shares. The position is held through subsidiaries including Jennison Associates LLC, The Prudential Insurance Company of America, and Quantitative Solutions LLC. Prudential states the shares are held in the ordinary course of business and not for the purpose of changing or influencing control of Arcutis.
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(Amendment No. 3)
Arcutis Biotherapeutics, Inc.
(Name of Issuer)
Common
(Title of Class of Securities)
03969K108
(CUSIP Number)
12/31/2025
(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)
SCHEDULE 13G
CUSIP No.
03969K108
1
Names of Reporting Persons
PRUDENTIAL FINANCIAL INC
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
NEW JERSEY
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
45,000.00
6
Shared Voting Power
6,381,022.00
7
Sole Dispositive Power
45,000.00
8
Shared Dispositive Power
7,034,926.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
7,079,926.00
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)
5.7 %
12
Type of Reporting Person (See Instructions)
HC
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, CALIFORNIA, 91361.
Item 2.
(a)
Name of person filing:
Prudential Financial, Inc.
(b)
Address or principal business office or, if none, residence:
751 Broad Street
Newark, New Jersey 07102-3777
(c)
Citizenship:
New Jersey
(d)
Title of class of securities:
Common
(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:
7,079,926.00
(b)
Percent of class:
5.7 %
(c)
Number of shares as to which the person has:
(i) Sole power to vote or to direct the vote:
45,000.00
(ii) Shared power to vote or to direct the vote:
6,381,022.00
(iii) Sole power to dispose or to direct the disposition of:
45,000.00
(iv) Shared power to dispose or to direct the disposition of:
7,034,926.00
Item 5.
Ownership of 5 Percent or Less of a Class.
Not Applicable
Item 6.
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.
Our clients may have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, such securities which are the subject of this filing.
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.
Prudential Financial, Inc. is a Parent Holding Company and the indirect parent of the following subsidiaries, who are the beneficial owners of the number and percentage of securities which are the subject of this filing as set forth next to their names:
Subsidiaries Number of shares Percentage
Jennison Associates LLC IA 6,758,006.00 5.5
The Prudential Insurance Company of America IC 87,005.00 0.00
PGIM Quantitative Solutions LLC IA 234,915.00 0.2
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.
