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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
GRP
126
Global Retirement Partners
California
$157 +$131 +42 New
Osaic Holdings
127
Osaic Holdings
Arizona
$37 +$31 +10 New
EP
128
Essential Partners
California
$30 +$25 +8 New
A
129
AlphaQuest
New York
$4
DCM
130
Driehaus Capital Management
Illinois
-$2.11M -763,486 Closed
SG Americas Securities
131
SG Americas Securities
New York
-$1.14M -413,822 Closed
PCMH
132
Polymer Capital Management (HK)
Hong Kong
-$660K -239,110 Closed
Point72 Asset Management
133
Point72 Asset Management
Connecticut
-$444K -160,725 Closed
Marshall Wace
134
Marshall Wace
United Kingdom
-$399K -144,644 Closed
TI
135
Trexquant Investment
Connecticut
-$385K -139,609 Closed
Balyasny Asset Management
136
Balyasny Asset Management
Illinois
-$353K -127,887 Closed
MAM
137
Martingale Asset Management
Massachusetts
-$229K -83,038 Closed
EC
138
EntryPoint Capital
New York
-$202K -73,293 Closed
JGC
139
J. Goldman & Co
New York
-$186K -67,500 Closed
State of Wisconsin Investment Board
140
State of Wisconsin Investment Board
Wisconsin
-$115K -41,502 Closed
Man Group
141
Man Group
United Kingdom
-$106K -38,472 Closed
CF
142
Corebridge Financial
Texas
-$95.1K -34,440 Closed
OAM
143
Oxford Asset Management
United Kingdom
-$91.2K -33,027 Closed
CSS
144
Cubist Systematic Strategies
Connecticut
-$78.2K -28,327 Closed
HSBC Holdings
145
HSBC Holdings
United Kingdom
-$66.4K -23,515 Closed
AC
146
AXQ Capital
New Jersey
-$59.2K -21,460 Closed
Ameriprise
147
Ameriprise
Minnesota
-$52.9K -19,166 Closed
PCM
148
Prelude Capital Management
New York
-$48.3K -17,500 Closed
CWM
149
CIBC World Markets
New York
-$43.1K -15,599 Closed
JF
150
Jump Financial
Illinois
-$38.4K -13,900 Closed

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.