Baillie Gifford discloses 14.6M Coursera (NYSE: COUR) shares

Rhea-AI Filing Summary

Baillie Gifford & Co, an investment adviser based in Scotland, has filed a Schedule 13G reporting beneficial ownership of 14,590,942 Coursera common shares as of December 31, 2025. This indicates a sizable passive stake above the 5 percent reporting threshold.

Baillie Gifford has sole voting power over 9,165,973 shares and sole dispositive power over all 14,590,942 shares, with no shared voting or dispositive power. The shares are held by Baillie Gifford and its investment adviser subsidiaries on behalf of institutional investment clients, and the filing certifies the holdings are in the ordinary course of business, not to influence control of Coursera.

Insights

Equity ownership & governance analyst

Baillie Gifford reports a sizable, passive stake in Coursera above the 5% threshold.

Baillie Gifford & Co reports beneficial ownership of 14,590,942 Coursera common shares as of December 31, 2025. It holds sole voting power over 9,165,973 shares and sole dispositive power over the full amount, with no shared authority.

The firm classifies itself as an investment adviser and certifies the position was acquired and is held in the ordinary course of business, not to change or influence control of Coursera. The shares are held on behalf of various investment advisory clients, including institutional accounts.

This type of Schedule 13G signals that a large professional investor has built a meaningful position while declaring a passive stance toward corporate control. Future ownership updates in similar filings will show whether this stake grows, stabilizes, or declines over subsequent reporting dates.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

Coursera, Inc.

(Name of Issuer)

Common Stock

(Title of Class of Securities)

22266M104

(CUSIP Number)

12/31/2025

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

SCHEDULE 13G

CUSIP No. 22266M104

1

Names of Reporting Persons

BAILLIE GIFFORD & CO

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

UNITED KINGDOM

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 9,165,973.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 14,590,942.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

14,590,942.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

8.8 %

12

Type of Reporting Person (See Instructions)

IA

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Coursera, Inc.
(b)	Address of issuer's principal executive offices: 2440 WEST EL CAMINO REAL, 2440 WEST EL CAMINO REAL, MOUNTAIN VIEW, CALIFORNIA, 94040.
Item 2.
(a)	Name of person filing: Baillie Gifford & Co
(b)	Address or principal business office or, if none, residence: Calton Square 1 Greenside Row Edinburgh EH1 3AN Scotland UK
(c)	Citizenship: Scotland
(d)	Title of class of securities: Common Stock
(e)	CUSIP No.: 22266M104
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
	Investment Adviser
Item 4.	Ownership
(a)	Amount beneficially owned: 14,590,942
(b)	Percent of class: 8.77 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 9,165,973
	(ii) Shared power to vote or to direct the vote: 0
	(iii) Sole power to dispose or to direct the disposition of: 14,590,942
	(iv) Shared power to dispose or to direct the disposition of: 0
Item 5.	Ownership of 5 Percent or Less of a Class.
	Not Applicable
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	If any other person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, such securities, a statement to that effect should be included in response to this item and, if such interest relates to more than 5 percent of the class, such person should be identified. A listing of the shareholders of an investment company registered under the Investment Company Act of 1940 or the beneficiaries of employee benefit plan, pension fund or endowment fund is not required. Securities reported on this Schedule 13G as being beneficially owned by Baillie Gifford & Co. are held by Baillie Gifford & Co. and/or one or more of its investment adviser subsidiaries, which may include Baillie Gifford Overseas Limited, on behalf of investment advisory clients, which may include investment companies registered under the Investment Company Act, employee benefit plans, pension funds or other institutional clients.
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	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.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with 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, other than activities solely in connection with a nomination under ? 240.14a-11. By signing below I certify that, to the best of my knowledge and belief, the foreign regulatory scheme applicable to Investment Adviser is substantially comparable to the regulatory scheme applicable to the functionally equivalent U.S. institution(s). I also undertake to furnish to the Commission staff, upon request, information that would otherwise be disclosed in a Schedule 13D.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

BAILLIE GIFFORD & CO

Signature:	Grant Meikle
Name/Title:	Regulatory Reporting Manager
Date:	02/05/2026

FAQ

What stake in Coursera (COUR) did Baillie Gifford report on Schedule 13G?

Baillie Gifford & Co reported beneficial ownership of 14,590,942 Coursera common shares as of December 31, 2025. This holding exceeds the 5 percent threshold that requires institutional investors to file a Schedule 13G with the SEC for passive positions.

How much voting power does Baillie Gifford have over Coursera (COUR) shares?

Baillie Gifford has sole voting power over 9,165,973 Coursera shares and no shared voting power. It also has sole dispositive power over 14,590,942 shares, meaning it can decide how that full amount is held or sold on behalf of its clients.

Is Baillie Gifford’s Coursera (COUR) holding a passive investment or an activist position?

Baillie Gifford certified its Coursera stake as a passive investment held in the ordinary course of business. The filing states the securities were not acquired and are not held for changing or influencing control of Coursera, consistent with Schedule 13G usage.

On whose behalf does Baillie Gifford hold Coursera (COUR) shares?

The Coursera shares reported are held by Baillie Gifford & Co and its investment adviser subsidiaries on behalf of investment advisory clients. These clients can include registered investment companies, employee benefit plans, pension funds, and other institutional investors that Baillie Gifford manages.

What type of SEC filing did Baillie Gifford submit for Coursera (COUR)?

Baillie Gifford filed a Schedule 13G, which is used by investors owning more than 5 percent of a company’s shares who take a passive stance. This contrasts with Schedule 13D, which is typically used for more active or control-oriented investment intentions.

When was the ownership date for Baillie Gifford’s Coursera (COUR) position?

The reported ownership information is as of December 31, 2025. That date marks the event requiring the Schedule 13G filing, summarizing Baillie Gifford’s beneficial holdings and voting and dispositive powers in Coursera around the end of that calendar year.