Qatar Investment Authority (BTAI) reports 156,066 BioXcel shares owned

Rhea-AI Filing Summary

Qatar Investment Authority filed an amendment reporting beneficial ownership of 156,066 shares of BioXcel Therapeutics common stock. The filing states this equals 0.58% of the class based on 27,088,601 shares outstanding as of March 26, 2026. The filing attributes 142,051 shares to the wholly owned subsidiary Q Boost Holding LLC plus 14,015 shares issuable upon exercise of an issuer warrant; it explains a 1-for-16 reverse stock split effective February 7, 2025 and a cashless exercise on April 28, 2025.

Key Figures

Beneficially owned shares: 156,066 shares Percent of class: 0.58% Shares outstanding (calculation): 27,088,601 shares +4 more

7 metrics

Beneficially owned shares 156,066 shares Amount beneficially owned reported in Item 4

Percent of class 0.58% Percent of class reported in Item 4

Shares outstanding (calculation) 27,088,601 shares Used to calculate percent of class as of March 26, 2026

Shares held by subsidiary 142,051 shares Held by Q Boost Holding LLC after cashless exercise

Shares issuable on warrant 14,015 shares Shares issuable to subsidiary upon exercise of issuer warrant

Reverse stock split 1-for-16 Effective February 7, 2025

Cashless exercise date April 28, 2025 Cashless exercise by the subsidiary producing issued shares

Key Terms

beneficially owned, cashless exercise, reverse stock split, warrant

4 terms

beneficially owned regulatory

"Amount beneficially owned: 156,066.00"

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.

cashless exercise financial

"cashless exercise by the Subsidiary on April 28, 2025"

A cashless exercise is a way for an option holder to convert stock options into actual shares without paying the purchase price in cash; instead they immediately give up a portion of the newly issued shares to cover the cost and any withholding taxes. Investors care because this process increases the number of shares available and can slightly dilute existing holdings, while also signaling how insiders or employees are realizing compensation without needing cash — similar to paying for a purchase by handing over part of what you just bought.

reverse stock split corporate

"1-for-16 reverse stock split of the Common Stock effective at 5:00 p.m."

A reverse stock split is when a company reduces the number of its shares outstanding, making each share more valuable. For example, if you own 100 shares worth $1 each, a 1-for-10 reverse split would turn your 100 shares into 10 shares worth $10 each. Companies often do this to boost their stock price and appear more stable to investors.

warrant financial

"14,015 shares of Common Stock issuable to the Subsidiary upon exercise of the Issuer warrant"

A warrant is a time-limited financial contract that gives its holder the right to buy a company's shares at a set price before a specified date, like a coupon that lets you purchase stock at a fixed discount for a limited time. It matters to investors because warrants offer leveraged exposure to a stock’s upside and can dilute existing shareholders if exercised, so they affect potential gains and the company’s outstanding share count.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 1)

BioXcel Therapeutics, Inc.

(Name of Issuer)

Common Stock, par value $0.001

(Title of Class of Securities)

09075P105

(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)

schemaVersion:

SCHEDULE 13G

CUSIP Number(s): 09075P105

1

Names of Reporting Persons

Qatar Investment Authority

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

QATAR

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 156,066.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 156,066.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

156,066.00

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)

0.6 %

12

Type of Reporting Person (See Instructions)

OO

Comment for Type of Reporting Person: The numbers in rows 5, 7 and 9 represent 142,051 shares of Common Stock held by Q Boost Holding LLC, the Reporting Person's wholly owned subsidiary (the "Subsidiary"), and 14,015 shares of Common Stock issuable to the Subsidiary upon exercise of the Issuer warrant held by the Subsidiary. The percentage of class in row 11 is calculated assuming 27,088,601 shares of Common Stock are outstanding based on (i) 27,074,586 shares of Common Stock outstanding as of March 26, 2026 as reported in the Issuer's Form 10-K filed with the Securities and Exchange Commission on March 27, 2026 and (ii) 14,015 shares of Common Stock issuable to the Subsidiary upon exercise of the Issuer warrant held by the Subsidiary. The above numbers give effect to (i) a 1-for-16 reverse stock split of the Common Stock effective at 5:00 p.m. Eastern Time on February 7, 2025, and (ii) the cashless exercise by the Subsidiary on April 28, 2025 of an Issuer warrant to purchase 156,250 shares of Common Stock, resulting in the issuance of the 142,051 shares of Common Stock currently held by the Subsidiary after withholding 14,199 shares of Common Stock to satisfy the exercise price.

SCHEDULE 13G

Item 1.
(a)	Name of issuer: BioXcel Therapeutics, Inc.
(b)	Address of issuer's principal executive offices: 555 LONG WHARF DRIVE, 555 LONG WHARF DRIVE, NEW HAVEN, CONNECTICUT, 06511
Item 2.
(a)	Name of person filing: Qatar Investment Authority
(b)	Address or principal business office or, if none, residence: Ooredoo Tower (Building 14), Al Dafna Street (Street 801), Al Dafna (Zone 61), Doha, Qatar
(c)	Citizenship: Qatar
(d)	Title of class of securities: Common Stock, par value $0.001
(e)	CUSIP No.:
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: 156,066.00
(b)	Percent of class: 0.58%
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 156,066.00
	(ii) Shared power to vote or to direct the vote: 0
	(iii) Sole power to dispose or to direct the disposition of: 156,066.00
	(iv) Shared power to dispose or to direct the disposition of: 0
Item 5.	Ownership of 5 Percent or Less of a Class.
	Ownership of 5 percent or less of a class
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.
	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. This Schedule 13G is filed by Qatar Investment Authority on behalf of itself and the following wholly-owned subsidiary which holds the shares: Q Boost Holding LLC
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 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.

Qatar Investment Authority

Signature:	Mohammed Fahad Al Khulaifi
Name/Title:	Head of Compliance and Governance
Date:	03/30/2026

FAQ

What stake does Qatar Investment Authority hold in BioXcel (BTAI)?

QIA beneficially owns 156,066 shares, or 0.58% of BioXcel's class. This percentage uses 27,088,601 shares outstanding as of March 26, 2026, including 14,015 shares issuable upon exercise of a warrant.

How are the 156,066 shares held by Qatar Investment Authority structured?

142,051 shares are held by Q Boost Holding LLC and 14,015 are issuable on a warrant. The filing attributes holdings to the wholly owned subsidiary and details a prior cashless exercise that produced the subsidiary's current shares.

Did any corporate actions affect the reported share counts?

Yes — a 1-for-16 reverse stock split on February 7, 2025, and a cashless exercise of an issuer warrant on April 28, 2025, which resulted in withholding shares to cover the exercise price.

What outstanding share count was used to calculate the percent of class?

The percent is calculated using 27,088,601 shares outstanding as of March 26, 2026. That figure combines the Form 10-K's 27,074,586 shares and 14,015 shares issuable upon exercise of the subsidiary's warrant.