Baillie Gifford discloses 5.3% Moderna (MRNA) stake in 13G

Rhea-AI Filing Summary

Baillie Gifford & Co, a Scotland-based investment adviser, reports beneficial ownership of 20,580,514 shares of Moderna, Inc. common stock, representing about 5.27% of the class. It has sole power to vote 20,033,351 shares and sole power to dispose of all 20,580,514 shares.

The shares are held by Baillie Gifford & Co and/or its investment adviser subsidiaries, including Baillie Gifford Overseas Limited, on behalf of investment advisory clients such as funds and institutional accounts. The position is certified as being held in the ordinary course of business and not for the purpose of changing or influencing control of Moderna.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 6)

Moderna, Inc.

(Name of Issuer)

Common Stock

(Title of Class of Securities)

60770K107

(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. 60770K107

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 20,033,351.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 20,580,514.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

20,580,514.00

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)

5.3 %

12

Type of Reporting Person (See Instructions)

IA

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Moderna, Inc.
(b)	Address of issuer's principal executive offices: 325 BINNEY STREET, 325 BINNEY STREET, CAMBRIDGE, MASSACHUSETTS, 02142.
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.: 60770K107
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: 20,580,514
(b)	Percent of class: 5.27 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 20,033,351
	(ii) Shared power to vote or to direct the vote: 0
	(iii) Sole power to dispose or to direct the disposition of: 20,580,514
	(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:	Manager
Date:	02/09/2026

FAQ

What Moderna (MRNA) ownership does Baillie Gifford report in this Schedule 13G/A?

Baillie Gifford & Co reports beneficial ownership of 20,580,514 Moderna common shares, representing about 5.27% of the outstanding class. This makes it a significant institutional holder, crossing the 5% disclosure threshold that requires filing a Schedule 13G/A.

How much voting and dispositive power does Baillie Gifford have over Moderna (MRNA) shares?

Baillie Gifford has sole voting power over 20,033,351 Moderna shares and sole dispositive power over 20,580,514 shares. It reports no shared voting or dispositive power, indicating centralized control over how these shares are voted and whether they are sold or retained.

What percentage of Moderna (MRNA) does Baillie Gifford’s stake represent?

Baillie Gifford’s beneficial ownership represents approximately 5.27% of Moderna’s common stock. Crossing the 5% level triggers Schedule 13G reporting, signaling that Baillie Gifford is a sizable institutional investor in the company’s equity base.

In what capacity does Baillie Gifford hold its Moderna (MRNA) position?

Baillie Gifford & Co files as an investment adviser, with securities held by it and/or its investment adviser subsidiaries for investment advisory clients. These clients include registered investment companies, employee benefit plans, pension funds, and other institutional investors using Baillie Gifford’s services.

Is Baillie Gifford seeking to influence control of Moderna (MRNA) through this stake?

Baillie Gifford certifies the shares were acquired and are held in the ordinary course of business, not to change or influence control of Moderna. It also states they are not held in connection with any control-related transaction, aside from activities tied to a specific nomination rule.

Who ultimately benefits from Baillie Gifford’s Moderna (MRNA) holdings?

The Moderna shares reported are held on behalf of Baillie Gifford’s investment advisory clients, which may include funds, employee benefit plans, pension funds, and other institutional clients. These clients have the economic interest in the holdings, while Baillie Gifford exercises voting and dispositive authority.