GRAIL, Inc.

GRAL and GRALV • XNAS

GRAIL, Inc. is a services-medical laboratories company on XNAS, with a market cap of $3.5B. As of Q3 2025, 69% of shares are held by 336 institutional investors, with BlackRock, Inc. as the largest holder at 6.84%.

Market Cap$3.5B

SERVICES-MEDICAL LABORATORIES

Employees1.2K

Websitegrail.com

Overview

Overview of institutional ownership in GRAL and GRALV as of Q3 2025 with a market cap of $2.1B

All Institutions

Institutions: 336
Value Held: $1.5B
Shares Held: 24.8M
Avg Position: $4.4M
Median Position: $269.2K

Hedge Funds

Hedge Funds: 33
Value Held: $512.1M
Shares Held: 8.7M
Avg Position: $15.5M
Median Position: $1.9M

Ownership Breakdown

Institutional (non-HF)

44.77%

$954.2M

Hedge Funds

24.03%

$512.1M

Retail & Other

31.21%

$665.2M

Based on market cap of $2.1B as of Q3 2025. Institutional (non-HF) excludes hedge funds to avoid double counting.

Biggest Investors

Institutions with the largest positions in GRAL and GRALV as of Q3 2025

Institution	Key People	Position Value	Ownership	Owned Since	Total AUM (Long)
B BlackRock, Inc. Institution	-	$145.7M 0.00% of portfolio	6.84% 2.5M shares	Q2 2024 Held for 1y 5m	$5.67T
PRIMECAP MANAGEMENT CO/CA/ Long Only Manager	Theofanis A Kolokotrones Chairman	$119.5M 0.09% of portfolio	5.61% 2.0M shares	Q2 2024 Held for 1y 5m	$128.84B
C CRCM LP Hedge Fund•Multi-Strategy	Jessica Ngo CFO	$109.0M 31.71% of portfolio	5.11% 1.8M shares	Q2 2024 Held for 1y 5m	$343.6M
VANGUARD GROUP INC Institution	Salim Ramji CEO	$107.4M 0.00% of portfolio	5.04% 1.8M shares	Q2 2024 Held for 1y 5m	$6.69T
B BAKER BROS. ADVISORS LP Hedge Fund•Sector	Scott Lawrence Lessing President	$96.4M 0.89% of portfolio	4.52% 1.6M shares	Q4 2024 Held for 11 months	$10.8B
FARALLON CAPITAL MANAGEMENT LLC Hedge Fund•Multi-Strategy	Edric Calvin Saito Managing Partner	$79.8M 0.45% of portfolio	3.74% 1.3M shares	Q2 2025 Held for 5 months	$17.7B
STATE STREET CORP Institution	Ronald P. O'Hanley CEO	$77.9M 0.00% of portfolio	3.65% 1.3M shares	Q2 2024 Held for 1y 5m	$2.88T
F Fort Hoosac Management, LLC Hedge Fund•Multi-Strategy	Paul Jerome Isaac President	$61.3M 41.99% of portfolio	2.87% 1.0M shares	Q2 2024 Held for 1y 5m	$145.9M
MORGAN STANLEY RIA/Wealth	Jed Finn CEO	$54.6M 0.00% of portfolio	2.56% 923.0K shares	Q2 2024 Held for 1y 5m	$1.65T
Sessa Capital IM, L.P. Hedge Fund•Long/Short	Jae Hong President	$46.5M 1.18% of portfolio	2.18% 786.1K shares	Q2 2024 Held for 1y 5m	$3.9B

Net Capital Flow

Institutional buying and selling activity for GRAL and GRALV in Q3 2025

Traded: −$76.7M
Buyers: 136
Sellers: 155
Total Bought: +$210.7M
Total Sold: −$287.4M
Avg Position: $3.8M

Biggest Buyers

Institution	Net Bought	Current Position
FARALLON CAPITAL MANAGEMENT LLC Hedge Fund•Multi-Strategy	+$50.1M +847.0K shares	$79.8M 1.3M shares
GOLDMAN SACHS GROUP INC Institution	+$17.3M +292.5K shares	$21.6M 365.0K shares
MORGAN STANLEY RIA/Wealth	+$16.8M +284.9K shares	$54.6M 923.0K shares
BANK OF AMERICA CORP /DE/ Institution	+$10.9M +183.6K shares	$19.8M 335.4K shares
A Allianz Asset Management AG Institution	+$10.3M +175.0K shares	$17.4M 294.8K shares
SCHWAB CHARLES INVESTMENT MANAGEMENT INC Long Only Manager	+$9.4M +158.9K shares	$14.9M 251.5K shares
Catalio Capital Management, LP Venture Capital	+$8.2M +137.9K shares	$8.2M 137.9K shares
CAPITAL FUND MANAGEMENT S.A. Hedge Fund•Quant Macro	+$7.8M +131.6K shares	$10.4M 175.2K shares
UBS Group AG Institution	+$7.5M +126.7K shares	$21.3M 360.5K shares
JPMORGAN CHASE & CO Institution	+$7.5M +126.6K shares	$12.2M 206.1K shares

Biggest Sellers

Institution	Net Sold	Current Position
C CRCM LP Hedge Fund•Multi-Strategy	−$106.6M −1.8M shares	$109.0M 1.8M shares
AQR CAPITAL MANAGEMENT LLC Hedge Fund•Multi-Strategy	−$52.2M −908.0K shares	$24.3M 422.7K shares
O One Fin Capital Management LP Hedge Fund•Event Driven	−$18.9M −320.0K shares	$22.5M 380.0K shares
Bank of New York Mellon Corp Institution	−$13.0M −220.1K shares	$7.7M 130.9K shares
VOLORIDGE INVESTMENT MANAGEMENT, LLC Hedge Fund•Multi-Strategy	−$7.7M −130.3K shares	$9.0M 152.6K shares
TWO SIGMA INVESTMENTS LLC Hedge Fund•Multi-Strategy	−$6.3M −106.6K shares	$8.7M 147.0K shares
D D. E. Shaw & Co., Inc. Institution	−$5.7M −96.4K shares	$2.3M 39.5K shares
MILLENNIUM MANAGEMENT LLC Hedge Fund•Multi-Strategy	−$5.5M −106.9K shares	Sold Off 0 shares
VANGUARD GROUP INC Institution	−$5.0M −85.4K shares	$107.4M 1.8M shares
Invesco Ltd. ETF Provider	−$4.9M −82.1K shares	$8.1M 136.5K shares

Entry and Exit Activity

Institutions that initiated new positions or completely exited GRAL and GRALV in Q3 2025

New Positions: 36
New Value: $25.0M
Exited Positions: 51
Exited Value: $26.4M

New Positions

Institution	Position Value
Catalio Capital Management, LP Venture Capital	$8.2M 137.9K shares
Voleon Capital Management LP Hedge Fund•Quant	$3.6M 61.6K shares
Mutual Advisors, LLC RIA/Wealth	$2.4M 29.6K shares
Gotham Asset Management, LLC Hedge Fund•Long/Short	$1.9M 32.4K shares
Verition Fund Management LLC Hedge Fund•Multi-Strategy	$1.8M 31.0K shares
Sheets Smith Investment Management RIA/Wealth	$1.7M 28.6K shares
Summit Financial, LLC RIA/Wealth	$752.6K 12.7K shares
Trexquant Investment LP Hedge Fund•Quant	$538.3K 9.1K shares
R RMB Capital Management, LLC RIA/Wealth	$531.8K 9.0K shares
SHEETS SMITH WEALTH MANAGEMENT RIA/Wealth	$512.1K 8.7K shares

Exited Positions

Institution	Previous Position
MILLENNIUM MANAGEMENT LLC Hedge Fund•Multi-Strategy	$5.5M 106.9K shares
C CAXTON ASSOCIATES LLP Institution	$3.3M 64.6K shares
EAM Investors, LLC Long Only Manager	$3.0M 57.4K shares
O OPTIONS SOLUTIONS, LLC Hedge Fund•Sector	$1.1M 21.9K shares
Moors & Cabot, Inc. RIA/Wealth	$1.0M 20.0K shares
A AMERIFLEX GROUP, INC. Institution	$1.0M 20.7K shares
WESTWOOD HOLDINGS GROUP INC Institution	$898.6K 17.5K shares
B & T Capital Management DBA Alpha Capital Management RIA/Wealth	$897.1K 17.4K shares
J JANE STREET GROUP, LLC Institution	$881.2K 17.1K shares
M Man Group plc Institution	$861.7K 16.8K shares

Options Activity

Institutions with the largest Call and Put options positions in GRAL and GRALV as of Q3 2025

Call Positions: 16
Call Value: $79.1M
Put Positions: 11
Put Value: $18.2M

Call Positions

Institution	Position Value
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$37.8M 6.4K contracts
J JANE STREET GROUP, LLC Institution	$12.5M 2.1K contracts
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$8.4M 1.4K contracts
MILLENNIUM MANAGEMENT LLC Hedge Fund•Multi-Strategy	$6.4M 1.1K contracts
D D. E. Shaw & Co., Inc. Institution	$4.8M 815.0 contracts
Walleye Trading Advisors, LLC Hedge Fund•Multi-Strategy	$2.4M 412.0 contracts
Walleye Trading LLC RIA/Wealth	$2.2M 367.0 contracts
S SYMMETRY PEAK MANAGEMENT LLC Institution	$2.2M 366.0 contracts
P PEAK6 LLC Institution	$1.5M 255.0 contracts
CAPITAL FUND MANAGEMENT S.A. Hedge Fund•Quant Macro	$698.2K 118.1 contracts

Put Positions

Institution	Position Value
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$7.8M 1.3K contracts
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$3.3M 566.0 contracts
J JANE STREET GROUP, LLC Institution	$2.0M 337.0 contracts
Walleye Trading Advisors, LLC Hedge Fund•Multi-Strategy	$1.7M 285.0 contracts
S SYMMETRY PEAK MANAGEMENT LLC Institution	$1.2M 195.0 contracts
Walleye Trading LLC RIA/Wealth	$1.0M 171.0 contracts
C CANTOR FITZGERALD, L. P. Institution	$591.3K 100.0 contracts
D D. E. Shaw & Co., Inc. Institution	$331.1K 56.0 contracts
TUDOR INVESTMENT CORP ET AL Hedge Fund•Multi-Strategy	$283.8K 48.0 contracts
N NOMURA HOLDINGS INC Institution	- - contracts

Most Committed Institutions

Institutions with GRAL and GRALV as the highest % of their portfolio as of Q3 2025

Institution	Key People	Portfolio Weight	Ownership	Owned Since	Total AUM (Long)
F Fort Hoosac Management, LLC Hedge Fund•Multi-Strategy	Paul Jerome Isaac President	41.99% $61.3M	2.87% 1.0M shares	Q2 2024 Held for 1y 5m	$145.9M
C CRCM LP Hedge Fund•Multi-Strategy	Jessica Ngo CFO	31.71% $109.0M	5.11% 1.8M shares	Q2 2024 Held for 1y 5m	$343.6M
O One Fin Capital Management LP Hedge Fund•Event Driven	Maykao Yang Manisone CFO	8.53% $22.5M	1.05% 380.0K shares	Q2 2024 Held for 1y 5m	$263.5M
Catalio Capital Management, LP Venture Capital	Olga Eduardovna Maltseva COO	1.51% $8.2M	0.38% 137.9K shares	Q3 2025 Held for 2 months	$540.9M
N Newtyn Management, LLC Hedge Fund•Event Driven	Noah Gabriel Levy Managing Partner	1.45% $11.8M	0.55% 200.0K shares	Q2 2024 Held for 1y 5m	$816.9M
Sessa Capital IM, L.P. Hedge Fund•Long/Short	Jae Hong President	1.18% $46.5M	2.18% 786.1K shares	Q2 2024 Held for 1y 5m	$3.9B
Sheets Smith Investment Management RIA/Wealth	Zolly Cornell Bowden President	1.10% $1.7M	0.08% 28.6K shares	Q3 2025 Held for 2 months	$154.2M
Slow Capital, Inc. Long Only Manager	Matthew Allen Johnson CEO	1.01% $8.5M	0.40% 143.8K shares	Q2 2024 Held for 1y 5m	$844.9M
Pier Capital, LLC Long Only Manager	Jan Eric Parsons Chairman	0.98% $6.2M	0.29% 105.6K shares	Q2 2025 Held for 5 months	$639.8M
W WIM INVESTMENT MANAGEMENT Ltd Institution	-	0.95% $3.7M	0.17% 63.0K shares	Q3 2024 Held for 1y 2m	$393.0M

Hedge Fund Spotlight

Discover hedge funds investing in GRAL and GRALV

TWO SIGMA INVESTMENTS LLC

Hedge Fund • Multi-Strategy

Portfolio ManagerScott David Hoffman

Portfolio Value: $62.0B
Positions: 3,252
Last Reported: Q3 2025

Sector Allocation

Position in GRAIL, Inc.

GRAL and GRALV

Market Value: $30.3M
Shares Held: 763.4K
Portfolio Weight: 0.06%
Owned Since: 2024-Q4

Top Holding	Sector	Market Value	Weight
1 SPDR S&P 500 ETF Trust SPY	ETF ETF	$680.4M	1.10%
2 Financial Select Sector SPDR Fund XLF	ETF ETF	$582.6M	0.94%
3 Consumer Staples Select Sector SPDR Fund XLP	ETF ETF	$489.6M	0.79%