Primecap Management reports 4.72% stake in GRAIL (GRAL)

Rhea-AI Filing Summary

PRIMECAP Management Co. filed an amended Schedule 13G reporting its beneficial ownership in GRAIL, Inc. as of the event date. The firm reports holding 1,838,684 shares, representing 4.72% of GRAIL’s outstanding common stock, with sole voting power over 1,836,818 shares.

PRIMECAP has sole dispositive power over all 1,838,684 shares and no shared voting or dispositive power. The filing states the securities were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing control of GRAIL.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 2)

GRAIL, Inc.

(Name of Issuer)

COM

(Title of Class of Securities)

384747101

(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. 384747101

1

Names of Reporting Persons

PRIMECAP MANAGEMENT CO/CA/

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 STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 1,836,818.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 1,838,684.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

1,838,684.00

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)

4.72 %

12

Type of Reporting Person (See Instructions)

IA

SCHEDULE 13G

Item 1.
(a)	Name of issuer: GRAIL, Inc.
(b)	Address of issuer's principal executive offices: 1525 O'BRIEN DRIVE, MENLO PARK, CALIFORNIA 94025
Item 2.
(a)	Name of person filing: PRIMECAP MANAGEMENT CO/CA/
(b)	Address or principal business office or, if none, residence: 177 EAST COLORADO BLVD. 11TH FLOOR PASADENA, California 91105
(c)	Citizenship: PRIMECAP MANAGEMENT CO/CA/ - UNITED STATES
(d)	Title of class of securities: COM
(e)	CUSIP No.: 384747101
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).
Item 4.	Ownership
(a)	Amount beneficially owned: 1,838,684
(b)	Percent of class: 4.72 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: PRIMECAP MANAGEMENT CO/CA/ - 1,836,818
	(ii) Shared power to vote or to direct the vote: PRIMECAP MANAGEMENT CO/CA/ - 0
	(iii) Sole power to dispose or to direct the disposition of: PRIMECAP MANAGEMENT CO/CA/ - 1,838,684
	(iv) Shared power to dispose or to direct the disposition of: PRIMECAP MANAGEMENT CO/CA/ - 0
Item 5.	Ownership of 5 Percent or Less of a Class.
	Ownership of 5 percent or less of a class
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	Not Applicable
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.

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.

PRIMECAP MANAGEMENT CO/CA/

Signature:	Jorge A. Rodriguez
Name/Title:	Deputy Chief Compliance Officer
Date:	02/10/2026

FAQ

What ownership in GRAIL (GRAL) does PRIMECAP Management report on this Schedule 13G/A?

PRIMECAP Management Co. reports beneficial ownership of 1,838,684 GRAIL shares, representing 4.72% of the company’s common stock. This reflects its position as an institutional investor holding the shares in the ordinary course of its investment advisory business.

How much voting power over GRAIL (GRAL) shares does PRIMECAP Management have?

PRIMECAP Management has sole voting power over 1,836,818 GRAIL shares and no shared voting power. This means PRIMECAP alone can vote those shares on matters submitted to shareholders, consistent with its role as an investment adviser for client accounts.

Does PRIMECAP Management seek to influence control of GRAIL (GRAL) with this stake?

PRIMECAP Management states the GRAIL securities were acquired and are held in the ordinary course of business. It expressly certifies they were not acquired and are not held to change or influence control of GRAIL or as part of any control-related transaction.

What percentage of GRAIL (GRAL) shares does PRIMECAP report owning?

PRIMECAP Management reports beneficial ownership of 4.72% of GRAIL’s outstanding common stock. This level of ownership is under the 5% threshold noted in the filing’s ownership section, which helps explain the use of the Schedule 13G short-form reporting structure.

What type of reporting person is PRIMECAP Management in this GRAIL (GRAL) filing?

PRIMECAP Management Co. files as a U.S.-organized institutional investor under the Schedule 13G framework. The filing language aligns with an investment adviser structure, indicating it holds GRAIL shares on behalf of clients, with sole dispositive and voting authority over the reported shares.

What is the event date for PRIMECAP’s reported GRAIL (GRAL) holdings?

The Schedule 13G/A states an event date of 12/31/2025 for PRIMECAP’s GRAIL holdings. This date marks when the reported ownership information became relevant under SEC rules, prompting the updated disclosure of shares and percentage ownership in GRAIL’s common stock.