Aberdeen Group (NASDAQ: EQ) shows 3.35M-share stake in Equillium

Rhea-AI Filing Summary

Aberdeen Group plc reported beneficial ownership of 3,352,837 shares of Equillium, Inc. common stock, representing 5.30% of the class. The filing states Aberdeen Group plc and abrdn Inc. hold shared voting and dispositive power over 3,352,837 shares and that abrdn Inc. holds these shares on behalf of underlying clients. The filing lists CUSIP 29446K106 and is signed by Romiza Chaudhry on 05/07/2026.

Key Figures

Shares beneficially owned: 3,352,837 shares Percent of class: 5.30% CUSIP: 29446K106 +1 more

4 metrics

Shares beneficially owned 3,352,837 shares Amount beneficially owned reported in Item 4

Percent of class 5.30% Percent of class reported in Item 4

CUSIP 29446K106 Identifier for Equillium common stock on cover data

Signature date 05/07/2026 Signed by Romiza Chaudhry, Major Shareholding Reporting Analyst

Key Terms

Schedule 13G, beneficially owned, shared dispositive power, CUSIP

4 terms

Schedule 13G regulatory

"Item 1. (a) Name of issuer: Equillium, Inc."

A Schedule 13G is a formal document that investors file with the government when they acquire a large ownership stake in a company, usually for investment purposes rather than control. It helps keep the public informed about who owns significant parts of a company's shares, which can influence how the company is managed and how investors make decisions. Filing this schedule is important for transparency and understanding the ownership landscape of publicly traded companies.

beneficially owned financial

"Item 4. (a) Amount beneficially owned: 3,352,837"

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.

shared dispositive power regulatory

"(iv) Shared power to dispose or to direct the disposition of: 3,352,837"

CUSIP other

"CUSIP Number(s): 29446K106"

A CUSIP is a nine-character alphanumeric code that uniquely identifies a U.S. or Canadian financial security—such as a stock, bond, or fund share—like a Social Security number for an investment. It matters to investors because brokers, exchanges and record-keepers use the CUSIP to match trades, track ownership, settle transactions and pull accurate records, reducing errors and ensuring money and securities go to the right place.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

Equillium, Inc.

(Name of Issuer)

Common Stock, $0.0001 Par Value

(Title of Class of Securities)

29446K106

(CUSIP Number)

04/01/2026

(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): 29446K106

1

Names of Reporting Persons

Aberdeen Group plc

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

UNITED KINGDOM

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 3,352,837.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 3,352,837.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

3,352,837.00

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)

5.3 %

12

Type of Reporting Person (See Instructions)

HC

SCHEDULE 13G

CUSIP Number(s): 29446K106

1

Names of Reporting Persons

abrdn 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

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 3,352,837.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 3,352,837.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

3,352,837.00

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)

5.3 %

12

Type of Reporting Person (See Instructions)

CO, IA

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Equillium, Inc.
(b)	Address of issuer's principal executive offices: 2223 AVENIDA DE LA PLAYA, SUITE 105, LA JOLLA, CALIFORNIA, CALIFORNIA 92037
Item 2.
(a)	Name of person filing: Aberdeen Group plc abrdn Inc.
(b)	Address or principal business office or, if none, residence: Aberdeen Group plc 1 George Street Edinburgh, United Kingdom EH2 2LL abrdn inc 1900 Market Street Suite 200. Philadelphia, PA 19103
(c)	Citizenship: Aberdeen Group plc - UNITED KINGDOM abrdn Inc. - UNITED STATES
(d)	Title of class of securities: Common Stock, $0.0001 Par Value
(e)	CUSIP Number(s): 29446K106
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: 3,352,837
(b)	Percent of class: 5.30 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: Aberdeen Group plc - 0 abrdn Inc. - 0
	(ii) Shared power to vote or to direct the vote: Aberdeen Group plc - 3,352,837 abrdn Inc. - 3,352,837
	(iii) Sole power to dispose or to direct the disposition of: Aberdeen Group plc - 0 abrdn Inc. - 0
	(iv) Shared power to dispose or to direct the disposition of: Aberdeen Group plc - 3,352,837 abrdn Inc. - 3,352,837
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.
	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. See Exhibit
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.

Aberdeen Group plc

Signature:	R.Chaudhry
Name/Title:	Romiza Chaudhry / Major Shareholding Reporting Analyst
Date:	05/07/2026

abrdn Inc.

Signature:	R.Chaudhry
Name/Title:	Romiza Chaudhry / Major Shareholding Reporting Analyst
Date:	05/07/2026

Exhibit Information

Aberdeen Group plc abrdn Holdings Limited abrdn Inc. Aberdeen Group plc is the parent company. abrdn Holdings Limited is the intermediate holding company for abrdn Inc. abrdn Inc. beneficially owns on behalf of our underlying clients 5% or greater of the outstanding shares of the security class being reported on this Schedule 13G.

FAQ

What stake does Aberdeen Group plc report in Equillium (EQ)?

Aberdeen Group plc reports beneficial ownership of 3,352,837 shares, equal to 5.30% of Equillium's common stock. The filing shows shared voting and dispositive power over the same 3,352,837 shares as of the disclosure.

Who holds the shares on behalf of Aberdeen's clients?

abrdn Inc. is listed as the entity that beneficially owns the shares on behalf of underlying clients. The filing notes an intermediate holding company, abrdn Holdings Limited, and that Aberdeen Group plc is the parent company.

Does the filing show sole voting or sole dispositive power?

No. The filing reports 0 shares for sole voting power and sole dispositive power. It reports 3,352,837 shares for shared voting power and shared dispositive power for both Aberdeen Group plc and abrdn Inc.

What identifying details are in the Schedule 13G for Equillium?

The filing lists the security as Common Stock, $0.0001 par value with CUSIP 29446K106. The issuer address is provided as 2223 Avenida de la Playa, Suite 105, La Jolla, CA 92037 in the filing.