Moderna, Inc.

The full register, from 13F filings

The Register tab above is hand research: a dozen holders, each traced to the filing it came from. This asks the same question of the whole market for the quarter ended 31-mar-2026, where 711 managers reported a position. Broad where the research is deep, and shallow in the ways a 13F always is.

Built from 13F filings, which report US listed, long, US custodied positions only. A register from this source is a floor rather than a level: a holder's true position can be far larger, as BlackRock's ASML stake shows at 1.28m shares in a 13F against 26.3m in its 13G/A. Holdings held through derivatives, outside US custody, or below a manager's reporting obligation do not appear. Where a holder is marked as a family, its total sums several separate filing entities and describes something no single filing describes; the constituent entities and their share counts are listed so the total can be checked. That roll-up can legitimately exceed the family's own Schedule 13G, because a 13G is filed by one legal entity: Vanguard reports Alphabet through ten advisory entities, and The Vanguard Group Inc itself reported zero after its January 2026 disaggregation.

What a reader needs to know to read these numbers

• Holdings side: searched Moderna's most recent 10-Q (period 30 Jun 2026, filed 31 Jul 2026) and most recent 10-K (fiscal year ended 31 Dec 2025, filed 20 Feb 2026, including Exhibit 21.1 subsidiaries list) for 'equity method', 'equity investment', 'non-marketable', 'privately held', 'joint venture', 'strategic investment', 'Investment in ', 'collaboration', 'minority interest', 'cost method' and 'unrealized gain'. Both filings disclose only a small, marketable-securities 'Equity investments' line inside the investment portfolio ($2 million and $6 million respectively at 30 Jun 2026, quoted-market-price publicly traded securities per the fair-value footnote), which the brief explicitly excludes as treasury/marketable holdings, not a strategic equity stake. No non-marketable or privately-held equity-method investment of any size is disclosed in either filing. The only named third-party arrangements found (Merck's 'PCV Agreement' for intismeran autogene/mRNA-4157, the Vertex Pharmaceuticals cystic-fibrosis collaboration, and a Blackstone Life Sciences R&D funding arrangement) are all revenue-sharing, royalty or funding-liability collaborations with no equity component disclosed in the text. Exhibit 21.1 of the 10-K is a bare name/jurisdiction list of Moderna's own wholly owned international operating subsidiaries (Moderna Australia Pty Ltd, ModernaTX Inc, Moderna US Inc and 20-odd others), no ownership-percentage column, and no third-party investee named. Treated as a genuine, well-documented negative: holdings is an empty array by design, not an unfinished search.
• Register self-gate, computed from this final file on disk using the project's chart arithmetic (members at full value, an aggregate reduced only by the members that actually roll into it): 13 register rows. Members rolling into the officers/directors group: Stephane Bancel 22,215,826 + Noubar B. Afeyan (personal) 2,428,152 + Flagship Pioneering (Afeyan venture entities) 4,632,149 = 29,276,127 shares, counted at full value as their own slices. The group container's own shares field is 35,884,226 (restated, see that row's method_note); residual after subtracting its members = max(0, 35,884,226 - 29,276,127) = 6,608,099, representing the 10 other named officers/directors not broken out individually. The remaining 9 rows (FMR, Vanguard, BlackRock, Capital Group, Baillie Gifford, State Street, Geode, T. Rowe Price, Merck) are plain institutional/strategic rows with no aggregation, summing to 198,253,874. Grand total = 198,253,874 + 29,276,127 (members) + 6,608,099 (residual) = 234,138,100 shares, against shares_outstanding 399,235,889 = 58.65% of the company.
• 58.65% sits above the brief's expected 25-55% band, so it is explained rather than shipped unexamined. It is not a mixed instrument, mixed basis or double count: (1) an implied-price check (value_usd divided by shares) across every institutional 13F row clusters tightly between $69.90 and $70.04 per share, all dated 30 Jun 2026, confirming one consistent instrument (common stock) and one consistent basis (actual share counts, with the T. Rowe Price dollar figure correctly converted out of its native thousands) across every row; (2) no institutional filer's shares appear in more than one row, each is checked against a distinct CIK/CUSIP pairing with no overlap between the nine institutional rows and the three founder-linked rows; (3) the unusually high total is substantially explained by FMR LLC (Fidelity) alone holding 12.99% of the company, a genuinely large active position independently cross-checked against FMR's own fresh Schedule 13G/A (51,803,891 shares, 13.1%, as of the same 30 Jun 2026 date, filed 5 Aug 2026) which agrees with the 13F figure to within 0.1%; Fidelity funds have historically carried an outsized stake in Moderna. High institutional plus founder ownership together crossing 55% is plausible for a founder-led, widely-held large-cap biotech and is not, on the evidence gathered, an arithmetic error.
• Two register rows (Bancel, Afeyan-personal) are dated after their proxy's 9 Mar 2026 record date because this project's standing instruction is to prefer a fresher filed figure over a stale one: Bancel's row uses a 6 Aug 2026 Form 4 showing his beneficial ownership fell to 22,215,826 shares (5.57%) from the proxy's 30,652,258 (7.6%), driven by full exercise of two option tranches ahead of their 10 Aug 2026 expiration under a 10b5-1 plan, with most of the exercised shares sold to cover cost and taxes. The officers/directors group aggregate row is restated to incorporate this and Afeyan's Flagship-entity figure, replacing the proxy's own printed 44,329,921/10.8% group total (preserved in that row's method_note for reconciliation) with a recomputed 35,884,226/8.99% that keeps the group's chart arithmetic internally consistent; see that row and the two founder rows below it for the full working.
• Merck & Co., Inc. holds 2,308,190 Moderna shares via its own Q2 2026 13F-HR, unchanged in share count from the register's stale 31 Mar 2026 snapshot; only the dollar value differs, reflecting Moderna's share-price appreciation over the quarter, not a change in position. Marked holder_type strategic and tied in the row's method_note to the companies' PCV (personalized cancer vaccine, intismeran autogene/mRNA-4157) collaboration, whose Phase 3 melanoma trial success was announced on 19 Aug 2026 (the same day this file was researched) alongside FDA clearance of Moderna's mFLUSIVA flu vaccine, driving an extraordinary single-day rally.
• Market cap is a computed figure: the Nasdaq-quoted regular-session closing price on 19 Aug 2026 ($174.38, per the cited Nasdaq quote endpoint) multiplied by the 24 Jul 2026 10-Q cover-page share count (399,235,889). 19 Aug 2026 was an extraordinarily volatile session for MRNA (up roughly 145-177% intraday per multiple news sources, day range $114.46 to $176.65, an after-hours print of $193.94) following the positive intismeran Phase 3 melanoma readout with Merck and the FDA's approval of the mFLUSIVA seasonal flu vaccine; this market cap should be read as a single-day snapshot on a day of extreme price discovery, not a stable valuation.
• Two register rows disagree with a stale figure quoted elsewhere and both are reconciled in their own method_note: Baillie Gifford fell from the register's 31 Mar 2026 snapshot of 19,985,876 shares to a fresh Q2 18,206,778, independently confirmed by both its own 13F-HR and a 24 Jul 2026 Schedule 13G/A dated to the same 30 Jun 2026 period. FMR rose from the register's 31 Mar 2026 snapshot of 45,672,024 to a fresh Q2 51,859,891, independently confirmed within 0.1% by its own 5 Aug 2026 Schedule 13G/A.