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# Edward Bass And Thru Line Disclose 9.39 Million Aquestive Shares In Passive Filing
- URL: https://www.bullished.co/edward-bass-and-thru-line-disclose-9-39-million-aquestive-shares-in-passive-filing-97f6595a/
- Published: 2026-10-07T20:10:55.000Z
- Updated: 2026-10-11T00:20:27.000Z
- Description: A Schedule 13G lists Bass with sole voting and selling power over 9,385,561 shares and certifies no intent to influence control.
- Author: Matteo Parrino
- Tags: SEC Filings, AQST, Industry: Healthcare

Edward P. Bass and his partnership Thru Line L.P. [reported a 7.5% stake](https://www.sec.gov/Archives/edgar/data/0001705622/000089742326000125/xslSCHEDULE%5F13G%5FX01/primary%5Fdoc.xml?ref=bullished.co) in Aquestive Therapeutics, covering 9,385,561 common shares, in a Schedule 13G filed Wednesday. The filing uses the passive route, which is for holders who say they are not trying to steer the company.

## What the 13G says

A Schedule 13G is the ownership filing for investors who hold a large block without seeking control. The date of the event listed is 10/07/2026.

Thru Line L.P. owns [7,876,267 shares](https://www.sec.gov/Archives/edgar/data/0001705622/000089742326000125/xslSCHEDULE%5F13G%5FX01/primary%5Fdoc.xml?ref=bullished.co), about 6.3% of the outstanding stock, according to the filing. Bass holds a further 1,509,294 shares directly, which brings his deemed beneficial total to 9,385,561.

Bass has sole power to vote and to sell all 9,385,561 shares, with no shared power on either. He holds that power over the partnership's shares as sole director and President of Thru Line GP L.L.C., the partnership's general partner. The general partner is also listed as a controlling person, and it is deemed to own the same 7,876,267 shares as Thru Line.

The filers are Texas-based, with a principal office at 201 Main Street in Fort Worth. Aquestive is based in Warren, New Jersey.

## Passive route, no control intent

The filing is made under Rule 13d-1(c). Bass certifies that, to the best of his knowledge and belief, the shares were not acquired and are not held to change or influence control of the issuer.

The filers also say the joint filing is made because they may be deemed a group under the securities law. They neither affirm nor disclaim that a group exists.

At Wednesday's close, Aquestive shares were $4.62, up 0.22%, for a market value of $579 million (market data).

## The backdrop at Aquestive

Aquestive said on January 9, 2026 that the FDA had found deficiencies in the application for its lead candidate, Anaphylm. A law firm's investor alert says the stock then fell 37%.

A securities class action complaint alleges investors were misled between June 2025 and January 2026 about approval prospects. The law firm Schubert Jonckheer is [investigating possible claims](https://www.prnewswire.com/news-releases/aquestive-therapeutics-inc-nasdaq-aqst-investor-alert-schubert-jonckheer-investigating-possible-false-statements-following-37-stock-drop-302900679.html?ref=bullished.co) against Aquestive's directors and officers. These are allegations, not findings.

The 13G does not say when Bass and Thru Line bought the shares; it records only the holdings as of the October 7 event date.

### Sources

- [SCHEDULE 13G — Bass Edward P re: Aquestive Therapeutics, Inc. (AQST)](https://www.sec.gov/Archives/edgar/data/0001705622/000089742326000125/xslSCHEDULE%5F13G%5FX01/primary%5Fdoc.xml?ref=bullished.co) — SEC EDGAR
- [Aquestive Therapeutics, Inc. (Nasdaq: AQST) Investor Alert: Schubert Jonckheer Investigating Possible False Statements Following 37% Stock Drop](https://www.prnewswire.com/news-releases/aquestive-therapeutics-inc-nasdaq-aqst-investor-alert-schubert-jonckheer-investigating-possible-false-statements-following-37-stock-drop-302900679.html?ref=bullished.co) — prnewswire.com