Frazier Life Sciences Management’s Arcutis Biotherapeutics ARQT Stock Holding History

Bought

Maintained

Sold

Quarter	Market Value	Status	Shares	Change in Stake	Trade Value	Portfolio Weight	Portfolio Position
2026 Q1	$233M	Hold	9,874,511	–	–	5.99%	5
2025 Q4	$287M	Hold	9,874,511	–	–	7.7%	3
2025 Q3	$186M	Hold	9,874,511	–	–	5.58%	5
2025 Q2	$138M	Buy	9,874,511 +1,089,227	+12%	+$15.3M	5.54%	5
2025 Q1	$137M	Hold	8,785,284	–	–	6.28%	4
2024 Q4	$122M	Hold	8,785,284	–	–	5.08%	5
2024 Q3	$81.7M	Hold	8,785,284	–	–	3.27%	11
2024 Q2	$81.7M	Hold	8,785,284	–	–	3.82%	8
2024 Q1	$87.1M	Buy	8,785,284 +21,052	+0.2%	+$157K	3.67%	9
2023 Q4	$28.3M	Buy	8,764,232 +80,000	+0.9%	+$217K	1.51%	19
2023 Q3	$46.1M	Hold	8,684,232	–	–	3.06%	11
2023 Q2	$82.8M	Hold	8,684,232	–	–	4.94%	7
2023 Q1	$95.5M	Hold	8,684,232	–	–	6.92%	4
2022 Q4	$129M	Hold	8,684,232	–	–	7.99%	3
2022 Q3	$166M	Buy	8,684,232 +250,000	+3%	+$5.66M	12.78%	2
2022 Q2	$180M	Hold	8,434,232	–	–	16.96%	1
2022 Q1	$162M	Buy	+8,434,232	New	+$143M	13.84%	1