Aquestive Therapeutics, Inc.
US ˙ NasdaqGM ˙ US03843E1047

SecurityAQST / Aquestive Therapeutics, Inc.
InstitutionVanguard Group Inc
Latest Disclosed Ownership5,892,334 shares
Latest Disclosed Value $ 38,064,478
Vanguard Group Inc reports 4.07% increase in ownership of AQST / Aquestive Therapeutics, Inc.

On January 29, 2026 - Vanguard Group Inc filed a 13F-HR form disclosing ownership of 5,892,334 shares of Aquestive Therapeutics, Inc. (US:AQST) valued at $38,064,478 USD as of December 31, 2025. The entity filed a previous 13F-HR on November 7, 2025 disclosing 5,662,132 shares of Aquestive Therapeutics, Inc.. This represents a change in shares of 4.07% during the quarter. The current value of the position is $23,156,873 USD.

Institutional Ownership: 13F and NPORT Filings

The Security and Class in the table below are shown exactly as filed by the investor. We do our best to track continuity of investments through acquisitions, and this will be reflected in the table as changes in names. In addition to descriptive data, performance of the investment is shown over time. To calculate quarterly performance, we first calculate cost basis of the shares purchased during the quarter, then use that to calculate gross profit. Quarterly return is Gross Profit / Starting Portfolio value.

Note that cost basis is calculated and stored in thousands, so small quarterly changes in shares frequently result in a cost basis of zero.

Upgrade to unlock premium data and export to Excel .

Disclosed Equity Positions (from 13F/NPORT Filings)
File
Date		 Effective
Date		Form Security Class ID Avg Price
Paid (Est)		 Reported
Shares		 ΔShares ΔShares
(%)		 Reported
Value
(x1000)		 ΔValue
(%)		 Alloc
(%)		 ΔAlloc ΔAlloc (%) Cost Basis
(x1000)		 Unrealized
Gain/Loss
(x1000)
2026-01-29 2025-12-31 13F AQUESTIVE THERAPEUTICS COM 03843E104 5,892,334 230,202 4.07 38,064 20.26 0.0006
2025-11-07 2025-09-30 13F AQUESTIVE THERAPEUTICS COM 03843E104 5,662,132 1,333,627 30.81 31,651 120.92 0.0005
2025-08-11 2025-06-30 13F AQUESTIVE THERAPEUTICS COM 03843E104 4,328,505 254,947 6.26 14,327 21.28 0.0002
2025-05-09 2025-03-31 13F AQUESTIVE THERAPEUTICS COM 03843E104 4,073,558 -273,196 -6.29 11,813 -23.66 0.0002
2025-02-11 2024-12-31 13F AQUESTIVE THERAPEUTICS COM 03843E104 4,346,754 82,958 1.95 15,474 -27.12 0.0003
2024-11-13 2024-09-30 13F AQUESTIVE THERAPEUTICS COM 03843E104 4,263,796 36,124 0.85 21,234 93.19 0.0004
2024-08-13 2024-06-30 13F AQUESTIVE THERAPEUTICS COM 03843E104 4,227,672 985,101 30.38 10,992 -20.43 0.0002
2024-05-10 2024-03-31 13F AQUESTIVE THERAPEUTICS COM 03843E104 3,242,571 1,353,518 71.65 13,813 262.07 0.0003
2024-03-11 2023-12-31 13F/A-1 AQUESTIVE THERAPEUTICS COM 03843E104 1,889,053 190,401 11.21 3,816 46.84 0.0001
2024-02-14 2023-12-31 13F AQUESTIVE THERAPEUTICS COM 03843E104 1,889,053 190,401 3,816 0.0001
2023-12-18 2023-09-30 13F/A-1 AQUESTIVE THERAPEUTICS COM 03843E104 1,698,652 138,984 8.91 2,599 0.97 0.0001
2023-11-14 2023-09-30 13F AQUESTIVE THERAPEUTICS COM 03843E104 1,698,652 138,984 2,599 0.0000
2023-08-14 2023-06-30 13F AQUESTIVE THERAPEUTICS COM 03843E104 1,559,668 249,082 19.01 2,573 72.22 0.0001
2023-07-14 2023-03-31 13F/A-1 AQUESTIVE THERAPEUTICS COM 03843E104 1,310,586 65,854 5.29 1,494 33.16 0.0000
2023-05-15 2023-03-31 13F AQUESTIVE THERAPEUTICS COM 03843E104 1,310,586 65,854 1,494 0.0000
2023-02-10 2022-12-31 13F AQUESTIVE THERAPEUTICS COM 03843E104 1,244,732 63,192 5.35 1,123 -18.81 0.0000
2022-11-14 2022-09-30 13F AQUESTIVE THERAPEUTICS COM 03843E104 1,181,540 -100,966 -7.87 1,382 68.54 0.0000
2022-08-12 2022-06-30 13F AQUESTIVE THERAPEUTICS COM 03843E104 1,282,506 0 0.00 820 -75.50 0.0000
2022-05-13 2022-03-31 13F AQUESTIVE THERAPEUTICS COM 03843E104 1,282,506 40,317 3.25 3,347 -30.73 0.0001
2022-02-14 2021-12-31 13F AQUESTIVE THERAPEUTICS COM 03843E104 1,242,189 187,885 17.82 4,832 5.11 0.0001
2021-11-12 2021-09-30 13F AQUESTIVE THERAPEUTICS COM 03843E104 1,054,304 8,226 0.79 4,597 10.69 0.0001
2021-08-13 2021-06-30 13F AQUESTIVE THERAPEUTICS COM 03843E104 1,046,078 189,652 22.14 4,153 -6.74 0.0001
2021-05-14 2021-03-31 13F AQUESTIVE THERAPEUTICS COM 03843E104 856,426 -37,969 -4.25 4,453 -6.94 0.0001
2021-02-12 2020-12-31 13F AQUESTIVE THERAPEUTICS COM 03843E104 894,395 33,485 3.89 4,785 14.50 0.0001
2020-11-16 2020-09-30 13F AQUESTIVE THERAPEUTICS COM 03843E104 860,910 121,138 16.38 4,179 16.24 0.0001
2020-08-14 2020-06-30 13F AQUESTIVE THERAPEUTICS COM 03843E104 739,772 112,964 18.02 3,595 161.84 0.0001
2020-05-15 2020-03-31 13F AQUESTIVE THERAPEUTICS COM 03843E104 626,808 34,400 5.81 1,373 -60.18 0.0001
2020-02-14 2019-12-31 13F AQUESTIVE THERAPEUTICS COM 03843E104 592,408 312,996 112.02 3,448 287.85 0.0001
2019-11-14 2019-09-30 13F AQUESTIVE THERAPEUTICS COM 03843E104 279,412 -32,719 -10.48 889 -32.19 0.0000
2019-08-14 2019-06-30 13F AQUESTIVE THERAPEUTICS COM 03843E104 312,131 -81,513 -20.71 1,311 -51.80 0.0000
2019-05-15 2019-03-31 13F AQUESTIVE THERAPEUTICS COM 03843E104 393,644 54,196 15.97 2,720 27.16 0.0001
2019-02-14 2018-12-31 13F AQUESTIVE THERAPEUTICS COM 03843E104 339,448 -120,584 -26.21 2,139 -73.45 0.0001
2018-12-13 2018-09-30 13F/A-2 AQUESTIVE THERAPEUTICS COM 03843E104 460,032 460,032 8,055 0.0003
2018-11-23 2018-09-30 13F/A-1 AQUESTIVE THERAPEUTICS COM 03843E104 460,032 0 8,055 0.0003
2018-11-14 2018-09-30 13F AQUESTIVE THERAPEUTICS COM 03843E104 460,032 8,055 0.0003
Legend
Shares
The total number of shares held by the institution at the end of the reporting period (the effective date). This is provided in the filing.
Value
The total value of the shares as of the effective date. This is provided in the filing.
Avg. Share Price
The weighted average share price of the shares held by the institution. We use FIFO accounting to determine this price
Class
This is the security class as indicated by the filer. There are a variety of values for this field. Common values include "EC" = equity common, "EP" - equity preferred
Allocation (%)
The percent of the institution's portfolio that this position represents. This is provided in NPORT filings. For 13F filings, we calculate it.
Change in Allocation
The change in allocation from the prior reporting period. This is calculated as current allocation - prior allocation.
Change in Allocation (%)
The percent change in allocation from the prior reporting period. This is calculated as (current allocation - prior allocation) / prior allocation.
Cost Basis
The total cost of the shares held. This is calculated as reported shares * avg. share price
Unrealized Gain/Loss
This is the market value of the position as of the effective date minus the cost basis.