BlackRock stake in Arrowhead Pharmaceuticals (ARWR) reaches 15%

Rhea-AI Filing Summary

BlackRock, Inc. has filed an amended Schedule 13G reporting a large passive stake in Arrowhead Pharmaceuticals Inc.. As of 12/31/2025, BlackRock reports beneficial ownership of 20,323,221 shares of Arrowhead common stock, representing 15.0% of the outstanding class. BlackRock has sole voting power over 20,124,285 shares and sole dispositive power over 20,323,221 shares, with no shared voting or dispositive power.

The filing aggregates holdings across certain BlackRock business units and notes that one holder, iShares Core S&P Small-Cap ETF, on its own holds more than five percent of Arrowhead’s common stock. BlackRock certifies that the securities were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing control of Arrowhead.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 4)

ARROWHEAD PHARMACEUTICALS INC

(Name of Issuer)

Common Stock

(Title of Class of Securities)

04280A100

(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. 04280A100

1

Names of Reporting Persons

BlackRock, 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

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 20,124,285.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 20,323,221.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

20,323,221.00

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)

15.0 %

12

Type of Reporting Person (See Instructions)

HC

SCHEDULE 13G

Item 1.
(a)	Name of issuer: ARROWHEAD PHARMACEUTICALS INC
(b)	Address of issuer's principal executive offices: 177 E COLORADO BLVD, SUITE 700 PASADENA CA 91105
Item 2.
(a)	Name of person filing: BlackRock, Inc. In accordance with SEC Release No. 34-39538 (January 12, 1998), this Schedule 13G reflects the securities beneficially owned, or deemed to be beneficially owned, by certain business units (collectively, the "Reporting Business Units") of BlackRock, Inc. and its subsidiaries and affiliates. It does not include securities, if any, beneficially owned by other business units whose beneficial ownership of securities are disaggregated from that of the Reporting Business Units in accordance with such release.
(b)	Address or principal business office or, if none, residence: BlackRock, Inc., 50 Hudson Yards New York, NY 10001
(c)	Citizenship: See Item 4 of Cover Page
(d)	Title of class of securities: Common Stock
(e)	CUSIP No.: 04280A100
Item 4.	Ownership
(a)	Amount beneficially owned: 20323221
(b)	Percent of class: 15.0 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 20124285
	(ii) Shared power to vote or to direct the vote: 0
	(iii) Sole power to dispose or to direct the disposition of: 20323221
	(iv) Shared power to dispose or to direct the disposition of: 0
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. The interest of 1 such person, iShares Core S&P Small-Cap ETF, in the common stock of ARROWHEAD PHARMACEUTICALS INC is more than five percent of the total outstanding common stock.
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. See Exhibit 99
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.

BlackRock, Inc.

Signature:	Spencer Fleming
Name/Title:	Managing Director
Date:	01/21/2026

Exhibit Information

Exhibit 24: Power of Attorney Exhibit 99: Item 7

FAQ

How much ARWR stock does BlackRock report owning in this Schedule 13G/A?

BlackRock, Inc. reports beneficial ownership of 20,323,221 shares of Arrowhead Pharmaceuticals Inc. common stock, representing 15.0% of the outstanding class as of 12/31/2025.

What percentage of Arrowhead Pharmaceuticals (ARWR) does BlackRock control voting power over?

BlackRock reports sole voting power over 20,124,285 shares of Arrowhead common stock and no shared voting power, corresponding to a 15.0% beneficial ownership of the class.

Is BlackRock’s stake in ARWR reported as a passive investment?

Yes. BlackRock certifies that the Arrowhead securities were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing control of the issuer.

Which BlackRock entity holds more than 5% of Arrowhead Pharmaceuticals’ common stock?

The filing states that iShares Core S&P Small-Cap ETF has an interest in Arrowhead common stock that is more than five percent of the company’s total outstanding common stock.

Does BlackRock share voting or dispositive power over ARWR shares with other parties?

According to the disclosure, BlackRock has sole voting power over 20,124,285 shares and sole dispositive power over 20,323,221 shares, with zero shared voting or shared dispositive power.

What type of filing is this for Arrowhead Pharmaceuticals (ARWR)?

This is an Amendment No. 4 to Schedule 13G, in which BlackRock, Inc. updates its beneficial ownership information for Arrowhead Pharmaceuticals Inc. common stock.