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TERN

Terns Pharmaceuticals

Delisted

TERN was delisted on the 4th of May, 2026.

129 hedge funds and large institutions have $310M invested in Terns Pharmaceuticals in 2025 Q2 according to their latest regulatory filings, with 24 funds opening new positions, 48 increasing their positions, 30 reducing their positions, and 32 closing their positions.

New
Increased
Maintained
Reduced
Closed

128% more call options, than puts

Call options by funds: $910K | Put options by funds: $399K

60% more repeat investments, than reductions

Existing positions increased: 48 | Existing positions reduced: 30

35% more capital invested

Capital invested by funds: $229M → $310M (+$80.6M)

0% more funds holding in top 10

Funds holding in top 10: 33 (0)

0.02% less ownership

Funds ownership: 95.18%95.16% (-0.02%)

6% less funds holding

Funds holding: 137129 (-8)

25% less first-time investments, than exits

New positions opened: 24 | Existing positions closed: 32

Holders
129
Holders Change
-8
Holders Change %
-5.84%
% of All Funds
1.7%
Holding in Top 10
3
Holding in Top 10 Change
Holding in Top 10 Change %
% of All Funds
0.04%
New
24
Increased
48
Reduced
30
Closed
32
Calls
$910K
Puts
$399K
Net Calls
+$511K
Net Calls Change
-$68K
Name Holding Trade Value Shares
Change
Change in
Stake
Manulife (Manufacturers Life Insurance)
76
Manulife (Manufacturers Life Insurance)
Ontario, Canada
$102K +$6.55K +2,097 +8%
Russell Investments Group
77
Russell Investments Group
United Kingdom
$92.6K -$10.5K -3,368 -12%
VIA
78
Virtus Investment Advisers
Connecticut
$89.2K -$3.08K -986 -4%
SIP
79
Stoneridge Investment Partners
Pennsylvania
$77K
VOYA Investment Management
80
VOYA Investment Management
Georgia
$75.3K +$1.2K +385 +2%
VCIM
81
Velan Capital Investment Management
Georgia
$74.6K +$9.37K +3,000 +18%
DTL
82
Dynamic Technology Lab
Singapore
$74K +$3.65K +1,167 +6%
ProShare Advisors
83
ProShare Advisors
Maryland
$67.5K -$3K -962 -5%
New York State Common Retirement Fund
84
New York State Common Retirement Fund
New York
$65.5K
CUAMC
85
China Universal Asset Management Company
China
$65.4K +$1.57K +504 +3%
VPIM
86
Vanguard Personalized Indexing Management
California
$62K +$1.17K +373 +2%
PFSRSONJ
87
Police & Firemen's Retirement System of New Jersey
New Jersey
$56K
ZIM
88
Zacks Investment Management
Illinois
$55.4K +$46.4K +14,864 New
Simplex Trading
89
Simplex Trading
Illinois
$54K +$45.8K +14,650 New
LCM
90
Landscape Capital Management
New Jersey
$49.2K
LWM
91
LeConte Wealth Management
Tennessee
$47.2K +$39.5K +12,641 New
State Board of Administration of Florida Retirement System
92
State Board of Administration of Florida Retirement System
Florida
$46.4K
Canada Pension Plan Investment Board
93
Canada Pension Plan Investment Board
Ontario, Canada
$45.9K +$38.4K +12,300 New
EGM
94
Engineers Gate Manager
New York
$41.2K +$34.5K +11,056 New
SCM
95
Sio Capital Management
New York
$37.7K +$312 +100 +1%
Vontobel Holding
96
Vontobel Holding
Switzerland
$37.3K -$12.5K -4,000 -29%
TRCT
97
Tower Research Capital (TRC)
New York
$30.6K +$3.98K +1,274 +18%
Legal & General Group
98
Legal & General Group
United Kingdom
$25.2K +$1.42K +454 +7%
AIP
99
Ameritas Investment Partners
Nebraska
$21K
California State Teachers Retirement System (CalSTRS)
100
California State Teachers Retirement System (CalSTRS)
California
$19.3K

TERN Hedge Fund Activity: Q2 2025 in Review

129 of the 7,596 institutional investors tracked by Wall St. Rank reported a position in Terns Pharmaceuticals (TERN) for Q2 2025, worth a combined $310M — up 35% from $229M a quarter earlier.

Sellers outnumbered buyers: 32 funds closed out of TERN and 24 opened new positions — a net loss of 8 holders — while 30 trimmed existing stakes and 48 added.

The largest buyer was Deep Track Capital, adding an estimated $5.99M. The largest seller was Schonfeld Strategic Advisors, cutting an estimated $2.48M.

  • 129 institutional investors held Terns Pharmaceuticals (TERN) as of Q2 2025, down from 137 in Q1 2025.
  • Funds reported $310M of Terns Pharmaceuticals stock for Q2 2025, up 35% quarter-over-quarter.
  • 24 funds opened new Terns Pharmaceuticals positions in Q2 2025 and 32 closed out, a net change of -8 holders.
  • The largest Terns Pharmaceuticals buyer in Q2 2025 was Deep Track Capital, an estimated $5.99M added.
  • The largest Terns Pharmaceuticals seller in Q2 2025 was Schonfeld Strategic Advisors, an estimated $2.48M sold.

Based on aggregated 13F filings for Q2 2025.