Sec Form 13G Filing - JENNISON ASSOCIATES LLC filing for Arcutis Biotherapeutics Inc. (ARQT) - 2024-03-06

Insider filing report for Changes in Beneficial Ownership

  • Schedule 13G & 13D forms are used to report a party's ownership of stock which exceeds 5% of a company's total stock issue.
  • Schedule 13G is a shorter version of Schedule 13D with fewer reporting requirements.
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     Securities and Exchange Commission

                     Washington, D.C.  20549

                          Schedule 13G

            Under the Securities Exchange Act of 1934

                        (Amendment No. 1)*

Feb 29, 2024
(Date of event which requires filing of this statement)

Check the appropriate box to designate the rule pursuant to which

this schedule is filed:

  (X) Rule 13d-1(b)

  ( ) Rule 13d-1(c)

  ( ) Rule 13d-1(d)


Name of Issuer: Arcutis Biotherapeutics, Inc.

Title of Class of Securities: Common Stock

CUSIP Number: 03969K108


*The remainder of this cover page shall be filled out for a

reporting person's initial filing on this form with respect to

the subject class of securities, and for any subsequent

amendment containing information which would alter the

disclosures provided in a prior cover page.


The information required in the remainder of this cover page

shall not be deemed to be "filed" for the purpose of Section 18

of the Securities Exchange Act of 1934 ("Act") or otherwise

subject to the liabilities of that section of the Act but shall

be subject to all other provisions of the Act (however, see the

Notes).


CUSIP Number: 03969K108

1. Name of Reporting Person: Jennison Associates LLC

S.S. or I.R.S. Identification No. of Above Person: IRS

Identification #52-2069785 (formerly 13-2631108)

2. Check the Appropriate Box if a Member of a Group:  Not

Applicable

3. SEC Use Only

4. Citizenship or Place of Organization: Delaware

Number of Shares Beneficially Owned By Each Reporting Person

With:

5. Sole Voting Power: 12,128,533 shares

6. Shared Voting Power: 0 shares

7. Sole Dispositive Power: 0 shares

8. Shared Dispositive Power: 12,128,533 shares

9. Aggregate Amount Beneficially Owned by Each Reporting

Person: 12,128,533 shares

10. Check Box if the Aggregate Amount in Row 9 Excludes

Certain Shares: ( )

11. Percent of Class Represented by Amount in Row 9: 10.8%

12. Type of Reporting Person*: IA


Item 1(a) Name of Issuer: Arcutis Biotherapeutics, Inc.

Item 1(b) Address of Issuer's Principal Executive Offices:

3027 Townsgate Road
Suite 300
Westlake Village, CA 91361

Item 2(a) Name of Person Filing:  Jennison Associates LLC

Item 2(b) Address of Principal Business Office or Residence:

466 Lexington Avenue
New York, NY  10017

Item 2(c) Citizenship: Delaware

Item 2(d) Title of Class of Securities: Common Stock

Item 2(e) CUSIP Number: 03969K108


Item 3 If this statement is filed pursuant to Rules 13d-1(b),

or 13d-2(b), or (c) check whether the person filing is a:

(a) ( ) Broker or Dealer registered under Section 15 of the Act

(b) ( ) Bank as defined in Section 3(a) (6) of the Act

(c) ( ) Insurance Company as defined in Section 3(a) (19) of

the Act

(d) ( ) Investment Company registered under Section 8 of the

Investment Company Act

(e) (X) Investment Adviser in accordance with Section

240.13d-1(b) (1) (ii) (E)


(f) ( ) Employee Benefit Plan, Pension Fund which is subject

to the provision of the Employee Retirement Income Security

Act of 1974 or Endowment Fund in accordance with Section

240.13d-1(b) (ii) (F)


(g) ( ) Parent Holding Company or control person, in accordance

with Section 240.13(b) (ii) (G)


(h) ( ) A savings association as defined by Section 3(b) of the

Federal Deposit Insurance Act

(i)( ) A church plan that is excluded from the definition of an

investment company under Section 3(c) (4) of the Investment Company

Act of 1940.

(j)( ) Group, in accordance with Section 240.13d-1(b) (1) (ii) (J).

If this statement is filed pursuant to Section 240.13d-1(c), check

this box. ( )


Item 4 Ownership:

Provide the following information regarding the aggregate number

and percentage of the class of securities of the issuer identified

in Item 1.

(a) Amount Beneficially Owned: 12,128,533 shares

(b) Percent of Class: 10.8%

(c) Number of shares as to which the person has:

(i) sole power to vote or to direct the vote: 12,128,533 shares

(ii) shared power to vote or to direct the vote: 0

(iii) sole power to dispose or to direct the disposition of: 0

(iv) shared power to dispose or to direct the disposition of: 12,128,533 shares


Jennison Associates LLC ("Jennison") furnishes

investment advice to several investment companies,

insurance separate accounts, and institutional clients ("Managed

Portfolios"). As a result of its role as investment adviser of

the Managed Portfolios, Jennison may be deemed to be the

beneficial owner of the shares of the Issuer's Common Stock

held by such Managed Portfolios.  Prudential Financial, Inc.

("Prudential") indirectly owns 100% of equity interests of

Jennison. As a result, Prudential may be deemed to have the

power to exercise or to direct the exercise of such voting

and/or dispositive power that Jennison may have with respect to

the Issuer's Common Stock held by the Managed Portfolios.

Jennison does not file jointly with Prudential, as such, shares

of the Issuer's Common Stock reported on Jennison's 13G may be

included in the shares reported on the 13G filed by Prudential.

These shares were acquired in the ordinary course of business,

and not with the purpose or effect of changing or influencing

control of the Issuer. The filing of this statement should not

be construed as an admission that Jennison is, for the purposes

of Sections 13 or 16 of the Securities Exchange Act of 1934,

the beneficial owner of these shares.


Item 5 Ownership of Five Percent or Less of a Class:

If this statement is being filed to report the fact that as

of the date hereof the reporting person has ceased to be the

beneficial owner of more than five percent of the securities,

check the following ().


Item 6 Ownership of More than Five Percent on Behalf of

Another Person:

Our clients have the right to receive or the power to direct

the receipt of dividends or the profits from the sale of such

securities.  No one client owns more than 5% of such security

class.


Item 7 Identification and Classification of the Subsidiary

which Acquired the Security being Reported on by the Parent

Holding Company: Not Applicable


Item 8 Identification and Classification of Members of the

Group: Not Applicable


Item 9 Notice of Dissolution of Group: Not Applicable


Item 10 Certification:

By signing below I certify that, to the best of my knowledge

and belief, the securities referred to above were acquired and are

in held the ordinary course of business and were not acquired and

are not held for the purpose of and do not have 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.

After reasonable inquiry and to the best of my knowledge and

belief, I certify that the correct information set forth in

this statement is true, complete and correct.



March 6, 2024



/s/ Beata Markowicz
Beata Markowicz
Vice President