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Terns Pharmaceuticals

246 hedge funds and large institutions have $4.95B invested in Terns Pharmaceuticals in 2025 Q4 according to their latest regulatory filings, with 123 funds opening new positions, 72 increasing their positions, 42 reducing their positions, and 17 closing their positions.

New
Increased
Maintained
Reduced
Closed

more capital invested

Capital invested by funds: $ → $

more first-time investments, than exits

New positions opened: | Existing positions closed:

more call options, than puts

Call options by funds: $ | Put options by funds: $

more funds holding in top 10

Funds holding in top 10:

76% more funds holding

Funds holding: 140246 (+106)

71% more repeat investments, than reductions

Existing positions increased: 72 | Existing positions reduced: 42

34.81% more ownership

Funds ownership: 101.28%136.09% (+35%)

Holders
246
Holders Change
Holders Change %
% of All Funds
Holding in Top 10
19
Holding in Top 10 Change
Holding in Top 10 Change %
% of All Funds
New
Increased
Reduced
Closed
Calls
$61.1M
Puts
$11.9M
Net Calls
Net Calls Change

Top Buyers

1 +$104M
2 +$101M
3 +$78.1M
4
CLGM
Capitolis Liquid Global Markets
New York
+$70.4M
5
Holocene Advisors
Holocene Advisors
New York
+$64.1M

Top Sellers

1 -$183M
2 -$155M
3 -$125M
4
CC
Commodore Capital
New York
-$97.6M
5
VC
Vivo Capital
California
-$35.8M
Name Holding Trade Value Shares
Change
Change in
Stake
Allianz Asset Management
151
Allianz Asset Management
Germany
$804K
ProShare Advisors
152
ProShare Advisors
Maryland
$794K
VPIM
153
Vanguard Personalized Indexing Management
California
$750K
Legal & General Group
154
Legal & General Group
United Kingdom
$730K
XT
155
XTX Topco
Cayman Islands
$688K
EGM
156
Engineers Gate Manager
New York
$677K
State Board of Administration of Florida Retirement System
157
State Board of Administration of Florida Retirement System
Florida
$675K
LPL Financial
158
LPL Financial
California
$671K
CUAMC
159
China Universal Asset Management Company
China
$601K
PR
160
PSP Research
Pennsylvania
$548K
GCP
161
GSA Capital Partners
United Kingdom
$536K
Verition Fund Management
162
Verition Fund Management
Connecticut
$516K
ET
163
Entropy Technologies
New York
$469K
GAM
164
Gotham Asset Management
New York
$464K
GCM
165
Graham Capital Management
Connecticut
$443K
NIM
166
NEOS Investment Management
Connecticut
$420K
DFCM
167
Dark Forest Capital Management
Puerto Rico
$419K
TE
168
Tema ETFs
New York
$414K
SCM
169
Sio Capital Management
New York
$408K
NA
170
NewEdge Advisors
Louisiana
$371K
FRM
171
Fox Run Management
Connecticut
$359K
Victory Capital Management
172
Victory Capital Management
Texas
$354K
Qube Research & Technologies (QRT)
173
Qube Research & Technologies (QRT)
United Kingdom
$310K
Envestnet Asset Management
174
Envestnet Asset Management
Illinois
$308K
Susquehanna International Group
175
Susquehanna International Group
Pennsylvania
$307K