Aquestive Therapeutics, Inc. - Common Stock, $0.001 par value (AQST) Institutional Ownership

13F Institutional Holders and Ownership History from Q3 2018 to Q4 2025

Type / Class
Equity / Common Stock, $0.001 par value
Symbol
AQST on Nasdaq
Shares outstanding
120,192,308
Price per share
$3.47
All holders as of 31 Dec 2025
Q4 2025
Total 13F shares
72,183,241
Total reported value
$466,160,913
% of total 13F portfolios
0%
Share change
+4,933,850
Value change
+$33,906,322
Number of holders
175
Price from insider filings
$3.47
Reported Shares, Excluding Options vs Price
Reported Value, Excluding Options
Total Investors

Significant Owners of Aquestive Therapeutics, Inc. - Common Stock, $0.001 par value (AQST) based on Schedule 13D/G filings

Filer Ownership Change % Holdings Value Net Change Nb Shares Change % Reporting Name Report Period
BRATTON DOUGLAS K 11% $28,720,687 10,077,434 BRATTON DOUGLAS K 31 Dec 2024
BlackRock, Inc. 5.3% $35,923,900 6,426,343 BlackRock, Inc. 30 Sep 2025
RTW INVESTMENTS, LP 5.2% $34,937,500 6,250,000 RTW Investments, LP 30 Sep 2025
Venrock Healthcare Capital Partners III, L.P. 2.9% $7,494,890 2,629,786 Venrock Healthcare Capital Partners III, L.P. 31 Dec 2024

As of 31 Dec 2025, 175 institutional investors reported holding 72,183,241 shares of Aquestive Therapeutics, Inc. - Common Stock, $0.001 par value (AQST). This represents 60% of the company’s total 120,192,308 outstanding shares.

Top 25 Institutional Shareholders

The largest institutional shareholders of Aquestive Therapeutics, Inc. - Common Stock, $0.001 par value (AQST) together control 49% of the company’s outstanding shares — a level of ownership often associated with strong institutional conviction and long‑term capital commitment.

Institution Ownership % Shares Held Share Change % Portfolio % Holdings Value
Bratton Capital Management, L.P. 8.2% 9,810,958 0% 100% $63,378,789
BlackRock, Inc. 6.5% 7,775,402 +19% 0% $50,229,098
RTW INVESTMENTS, LP 5.2% 6,250,000 0% 0.4% $40,375,000
VANGUARD GROUP INC 4.9% 5,892,334 +4.1% 0% $38,064,478
EcoR1 Capital, LLC 2.2% 2,625,000 0% 0.78% $16,957,500
SAMSARA BIOCAPITAL, LLC 2.1% 2,500,000 0% 1.7% $16,150,000
STATE STREET CORP 2% 2,462,778 +54% 0% $15,909,546
GEODE CAPITAL MANAGEMENT, LLC 2% 2,368,092 +13% 0% $15,301,373
FEDERATED HERMES, INC. 1.7% 2,032,822 +159% 0.02% $13,132,030
MORGAN STANLEY 1.5% 1,758,750 +25% 0% $11,361,525
MILLENNIUM MANAGEMENT LLC 1.3% 1,535,369 +19% 0.01% $9,918,484
BANK OF AMERICA CORP /DE/ 1% 1,207,591 -1.2% 0% $7,801,038
WELLS FARGO & COMPANY/MN 0.99% 1,188,531 +805% 0% $7,677,910
BNP PARIBAS FINANCIAL MARKETS 0.97% 1,171,675 0% 0% $7,569,020
Janney Montgomery Scott LLC 0.91% 1,093,210 -0.6% 0.02% $7,062,000
COMMONWEALTH EQUITY SERVICES, LLC 0.85% 1,019,792 -3.7% 0.01% $6,587,851
HRT FINANCIAL LP 0.83% 994,966 +78% 0.02% $6,427,000
Sio Capital Management, LLC 0.83% 993,095 -34% 1.1% $6,415,394
Balyasny Asset Management L.P. 0.81% 970,939 0.01% $6,272,266
D. E. Shaw & Co., Inc. 0.78% 941,197 +3591% 0% $6,080,132
GOLDMAN SACHS GROUP INC 0.76% 909,064 +130% 0% $5,872,554
Aberdeen Group plc 0.67% 809,203 +29% 0.01% $5,227,451
PERCEPTIVE ADVISORS LLC 0.62% 747,193 -80% 0.09% $4,826,867
NORTHERN TRUST CORP 0.62% 742,794 +8.8% 0% $4,798,450
WASATCH ADVISORS LP 0.57% 681,240 -5.9% 0.03% $4,400,810

Institutional Holders of Aquestive Therapeutics, Inc. - Common Stock, $0.001 par value (AQST) across Reporting Periods

Period Reported Shares, Excl. Options Value, Excl. Options Value Change Price (Median) Investors
2025 Q4 72,183,241 $466,160,913 +$33,906,322 $6.46 175
2025 Q3 66,072,635 $369,385,999 +$106,443,073 $5.59 151
2025 Q2 47,601,655 $157,593,347 +$12,692,456 $3.31 115
2025 Q1 44,051,858 $127,751,552 -$2,587,459 $2.90 120
2024 Q4 43,378,481 $154,428,036 -$13,648,629 $3.56 113
2024 Q3 46,754,842 $232,438,651 +$19,226,897 $4.98 116
2024 Q2 42,397,820 $110,236,742 -$9,111,350 $2.60 95
2024 Q1 41,491,141 $176,751,489 +$88,086,384 $4.26 96
2023 Q4 23,788,793 $48,053,747 +$1,931,780 $2.02 57
2023 Q3 13,082,950 $20,018,501 +$5,799,587 $1.53 45
2023 Q2 19,076,504 $31,486,971 +$6,895,297 $1.65 54
2023 Q1 14,936,175 $17,026,675 +$181,515 $1.14 34
2022 Q4 14,914,775 $13,452,963 -$924,306 $0.90 34
2022 Q3 15,885,912 $18,581,000 -$701,258 $1.17 41
2022 Q2 16,697,754 $10,681,727 -$1,110,269 $0.64 37
2022 Q1 15,540,728 $40,562,854 -$1,905,712 $2.61 49
2021 Q4 16,159,821 $62,860,046 +$1,542,125 $3.89 50
2021 Q3 14,777,244 $64,430,510 -$3,394,828 $4.36 44
2021 Q2 15,624,060 $62,031,877 -$6,395,474 $3.97 56
2021 Q1 16,607,064 $86,353,974 -$13,347,120 $5.20 62
2020 Q4 19,140,719 $102,400,992 -$3,894,598 $5.35 65
2020 Q3 19,883,853 $96,529,634 +$6,732,727 $4.85 57
2020 Q2 18,511,676 $89,959,616 +$16,355,927 $4.86 56
2020 Q1 15,971,551 $35,033,099 -$11,294,638 $2.19 42
2019 Q4 17,453,204 $101,100,262 +$20,834,844 $5.82 55
2019 Q3 13,582,404 $43,193,449 -$3,717,359 $3.18 34
2019 Q2 14,515,951 $60,964,876 -$1,002,690 $4.20 39
2019 Q1 14,418,719 $99,632,199 +$442,125 $6.91 49
2018 Q4 14,369,495 $90,526,000 -$232,037,542 $6.30 35
2018 Q3 16,085,145 $281,645,000 +$281,645,001 $17.51 44