Moderna

MRNA • NASDAQ

Moderna is a biotechnology company in the healthcare sector on NASDAQ, led by Stéphane Bancel, with a market cap of $11.6B. As of Q3 2025, 70% of shares are held by 613 institutional investors, with VANGUARD GROUP INC as the largest holder at 10.59%.

CEOStéphane Bancel

Market Cap$11.6B

Biotechnology

Healthcare

Employees5.6K

Websitemodernatx.com

Country

United States of America

Overview

Overview of institutional ownership in MRNA as of Q3 2025 with a market cap of $10.0B

All Institutions

Institutions: 613
Value Held: $7.1B
Shares Held: 274.2M
Avg Position: $11.6M
Median Position: $335.6K

Hedge Funds

Hedge Funds: 58
Value Held: $743.7M
Shares Held: 28.8M
Avg Position: $12.8M
Median Position: $1.8M

Ownership Breakdown

Institutional (non-HF)

63.07%

$6.3B

Hedge Funds

7.4%

$743.7M

Retail & Other

29.53%

$3.0B

Based on market cap of $10.0B as of Q3 2025. Institutional (non-HF) excludes hedge funds to avoid double counting.

Biggest Investors

Institutions with the largest positions in MRNA as of Q3 2025

Institution	Key People	Position Value	Ownership	Owned Since	Total AUM (Long)
VANGUARD GROUP INC Institution	Salim Ramji CEO	$1.1B 0.02% of portfolio	10.59% 41.2M shares	Q4 2018 Held for 6y 11m	$6.69T
B BlackRock, Inc. Institution	-	$762.7M 0.01% of portfolio	7.59% 29.5M shares	Q4 2018 Held for 6y 11m	$5.67T
B BAILLIE GIFFORD & CO Institution	-	$564.3M 0.42% of portfolio	5.61% 21.8M shares	Q4 2018 Held for 6y 11m	$134.80B
STATE STREET CORP Institution	Ronald P. O'Hanley CEO	$441.9M 0.02% of portfolio	4.40% 17.1M shares	Q1 2019 Held for 6y 8m	$2.88T
FMR LLC Institution	-	$317.8M 0.02% of portfolio	3.16% 12.3M shares	Q4 2018 Held for 6y 11m	$1.92T
MORGAN STANLEY RIA/Wealth	Jed Finn CEO	$257.3M 0.02% of portfolio	2.56% 10.0M shares	Q4 2018 Held for 6y 11m	$1.65T
GEODE CAPITAL MANAGEMENT LLC ETF Provider	David Kenneth Lane CEO	$238.5M 0.02% of portfolio	2.38% 9.2M shares	Q4 2018 Held for 6y 11m	$1.57T
Invesco Ltd. ETF Provider	Brian Christopher Hartigan CEO	$212.2M 0.03% of portfolio	2.11% 8.2M shares	Q1 2019 Held for 6y 8m	$633.08B
T Theleme Partners LLP Institution	-	$208.4M 13.32% of portfolio	2.07% 8.1M shares	Q4 2018 Held for 6y 11m	$1.6B
TWO SIGMA INVESTMENTS LLC Hedge Fund•Multi-Strategy	Scott David Hoffman CEO	$194.5M 0.31% of portfolio	1.94% 7.5M shares	Q1 2023 Held for 2y 8m	$62.0B

Net Capital Flow

Institutional buying and selling activity for MRNA in Q3 2025

Traded: −$330.7M
Buyers: 258
Sellers: 309
Total Bought: +$496.4M
Total Sold: −$827.1M
Avg Position: $10.1M

Biggest Buyers

Institution	Net Bought	Current Position
N NATIONAL BANK OF CANADA /FI/ Institution	+$54.6M +2.1M shares	$69.9M 2.7M shares
MORGAN STANLEY RIA/Wealth	+$48.0M +1.9M shares	$257.3M 10.0M shares
SCHWAB CHARLES INVESTMENT MANAGEMENT INC Long Only Manager	+$32.9M +1.3M shares	$111.4M 4.3M shares
Invesco Ltd. ETF Provider	+$28.8M +1.1M shares	$212.2M 8.2M shares
S Squarepoint Ops LLC Hedge Fund•Quant	+$27.2M +1.1M shares	$30.0M 1.2M shares
M Man Group plc Institution	+$27.0M +1.0M shares	$30.8M 1.2M shares
B BlackRock, Inc. Institution	+$23.7M +916.4K shares	$762.7M 29.5M shares
UBS Group AG Institution	+$22.2M +859.3K shares	$124.0M 4.8M shares
BALYASNY ASSET MANAGEMENT LLC Hedge Fund•Multi-Strategy	+$16.2M +627.5K shares	$16.2M 627.5K shares
TWO SIGMA INVESTMENTS LLC Hedge Fund•Multi-Strategy	+$14.7M +570.8K shares	$194.5M 7.5M shares

Biggest Sellers

Institution	Net Sold	Current Position
FMR LLC Institution	−$189.6M −7.3M shares	$317.8M 12.3M shares
VOLORIDGE INVESTMENT MANAGEMENT, LLC Hedge Fund•Multi-Strategy	−$62.9M −2.4M shares	$25.0M 969.4K shares
J JANE STREET GROUP, LLC Institution	−$62.1M −2.4M shares	$35.6M 1.4M shares
D D. E. Shaw & Co., Inc. Institution	−$34.0M −1.3M shares	$158.8M 6.1M shares
R ROYAL BANK OF CANADA Institution	−$31.3M −1.2M shares	$42.8M 1.7M shares
RENAISSANCE TECHNOLOGIES LLC Hedge Fund•Quant	−$27.7M −1.0M shares	Sold Off 0 shares
DEERFIELD MANAGEMENT CO /NY Hedge Fund•Long/Short	−$27.6M −1.0M shares	Sold Off 0 shares
UBS GLOBAL ASSET MANAGEMENT AMERICAS INC Long Only Manager	−$27.4M −1.1M shares	$50.7M 2.0M shares
TWO SIGMA ADVISERS, LLC Hedge Fund•Multi-Strategy	−$26.9M −1.0M shares	$174.9M 6.8M shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	−$23.0M −890.4K shares	$50.6M 2.0M shares

Entry and Exit Activity

Institutions that initiated new positions or completely exited MRNA in Q3 2025

New Positions: 25
New Value: $5.9M
Exited Positions: 87
Exited Value: $117.9M

New Positions

Institution	Position Value
Morningstar Investment Management LLC Long Only Manager	$1.8M 70.9K shares
L Legal Advantage Investments, Inc. RIA/Wealth	$1.2M 48.2K shares
DIADEMA PARTNERS LP Hedge Fund•Long/Short	$516.6K 20.0K shares
Sugar Maple Asset Management, LLC RIA/Wealth	$439.1K 17.0K shares
Bayforest Capital Ltd Hedge Fund•Quant	$391.5K 15.2K shares
ISAM Funds Ltd Hedge Fund•Quant	$386.0K 14.9K shares
P Polymer Capital Management LLC Hedge Fund•Multi-Strategy	$343.8K 13.3K shares
Point72 Europe LLP Digital Asset Manager	$314.4K 12.2K shares
Arista Wealth Management, LLC RIA/Wealth	$232.5K 9.0K shares
P Persistent Asset Partners Ltd Institution	$118.4K 4.6K shares

Exited Positions

Institution	Previous Position
RENAISSANCE TECHNOLOGIES LLC Hedge Fund•Quant	$27.7M 1.0M shares
DEERFIELD MANAGEMENT CO /NY Hedge Fund•Long/Short	$27.6M 1.0M shares
SUVRETTA CAPITAL MANAGEMENT, LLC Hedge Fund•Long/Short	$14.3M 517.2K shares
G Grantham, Mayo, Van Otterloo & Co. LLC Long Only Manager	$7.0M 255.0K shares
F FIDUCIARY TRUST CO Institution	$4.5M 163.0K shares
ROYAL LONDON ASSET MANAGEMENT LTD Digital Asset Manager	$4.0M 144.2K shares
SUSQUEHANNA FUNDAMENTAL INVESTMENTS, LLC Hedge Fund•Distressed	$3.1M 113.9K shares
Y Y-Intercept Ltd Institution	$2.8M 102.8K shares
N NATIXIS Institution	$2.7M 99.1K shares
Susquehanna Portfolio Strategies, LLC Private Equity	$2.2M 78.8K shares

Options Activity

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

Call Positions: 43
Call Value: $1.0B
Put Positions: 47
Put Value: $1.1B

Call Positions

Institution	Position Value
Toroso Investments, LLC ETF Provider	$205.9M 79.7K contracts
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$184.3M 71.3K contracts
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$166.2M 64.3K contracts
S Squarepoint Ops LLC Hedge Fund•Quant	$117.3M 45.4K contracts
UBS Group AG Institution	$96.3M 37.3K contracts
J JANE STREET GROUP, LLC Institution	$66.9M 25.9K contracts
D D. E. Shaw & Co., Inc. Institution	$35.6M 13.8K contracts
Q Qube Research & Technologies Ltd Institution	$22.7M 8.8K contracts
CAPITAL FUND MANAGEMENT S.A. Hedge Fund•Quant Macro	$19.0M 7.4K contracts
W WOLVERINE TRADING, LLC Institution	$17.7M 7.0K contracts

Put Positions

Institution	Position Value
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$183.2M 70.9K contracts
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$155.6M 60.2K contracts
J JANE STREET GROUP, LLC Institution	$129.7M 50.2K contracts
D D. E. Shaw & Co., Inc. Institution	$112.0M 43.3K contracts
Point72 Asset Management, L.P. Hedge Fund•Multi-Strategy	$66.9M 25.9K contracts
S Squarepoint Ops LLC Hedge Fund•Quant	$65.7M 25.4K contracts
UBS Group AG Institution	$64.1M 24.8K contracts
N NATIXIS Institution	$41.3M 16.0K contracts
Q Qube Research & Technologies Ltd Institution	$40.8M 15.8K contracts
Walleye Trading LLC RIA/Wealth	$30.0M 11.6K contracts

Most Committed Institutions

Institutions with MRNA as the highest % of their portfolio as of Q3 2025

Institution	Key People	Portfolio Weight	Ownership	Owned Since	Total AUM (Long)
Flagship Ventures Management, Inc. Institution	Thomas Allen Goldsmith President	40.89% $119.6M	1.19% 4.6M shares	Q4 2018 Held for 6y 11m	$292.6M
Merck & Co., Inc. Institution	Robert M. Davis CEO	27.37% $59.6M	0.59% 2.3M shares	Q4 2024 Held for 11 months	$217.8M
T Theleme Partners LLP Institution	-	13.32% $208.4M	2.07% 8.1M shares	Q4 2018 Held for 6y 11m	$1.6B
T TB Alternative Assets Ltd. Hedge Fund•Value	Shujun Li CEO	2.55% $17.0M	0.17% 658.9K shares	Q1 2025 Held for 8 months	$668.4M
W WASHINGTON UNIVERSITY Institution	-	2.17% $3.9M	0.04% 150.0K shares	Q2 2021 Held for 4y 5m	$178.5M
T Telemark Asset Management, LLC Hedge Fund•Long/Short	Colin Mcnay President	1.23% $12.9M	0.13% 500.0K shares	Q3 2025 Held for 2 months	$1.1B
B BANQUE PICTET & CIE SA Institution	-	0.81% $80.9M	0.80% 3.1M shares	Q2 2019 Held for 6y 5m	$10.0B
D Dean Capital Investments Management, LLC Institution	-	0.74% $1.8M	0.02% 68.6K shares	Q1 2025 Held for 8 months	$241.1M
Green Alpha Advisors, LLC Long Only Manager	Jeremy Wyatt Deems Founder	0.70% $726.9K	0.01% 28.1K shares	Q4 2020 Held for 4y 11m	$103.4M
Collar Capital Management, LLC RIA/Wealth	Patrick Daniel Collar Managing Partner	0.69% $996.1K	0.01% 38.6K shares	Q4 2024 Held for 11 months	$143.5M

Hedge Fund Spotlight

Discover hedge funds investing in MRNA

JACOBS LEVY EQUITY MANAGEMENT, INC

Hedge Fund • Quant

Portfolio ManagerBruce Ira Jacobs

Portfolio Value: $25.2B
Positions: 953
Last Reported: Q3 2025

Sector Allocation

Position in Moderna

Market Value: $37.5M
Shares Held: 1.4M
Portfolio Weight: 0.15%
Owned Since: 2025-Q1

Top Holding	Sector	Market Value	Weight
1 Nvidia NVDA	Semiconductors Technology	$1.7B	6.62%
2 Apple AAPL	Consumer Electronics Technology	$1.3B	5.29%
3 Microsoft MSFT	Software - Infrastructure Technology	$1.0B	4.05%