| Filer | Ownership | Change % | Holdings Value | Net Change | Nb Shares | Change % | Reporting Name | Report Period |
|---|---|---|---|---|---|---|---|---|
| MORGAN STANLEY | 8.1% | $20,731,866 | 7,099,954 | Morgan Stanley | 31 Mar 2025 | |||
| BlackRock, Inc. | 6.8% | $16,770,967 | 5,743,482 | BlackRock, Inc. | 31 Dec 2024 | |||
| Adage Capital Management, L.P. | 5.1% | $196,914,000 | 5,550,000 | Adage Capital Management, L.P. | 31 Dec 2025 | |||
| VANGUARD GROUP INC | 5.2% | $34,244,977 | 4,559,917 | The Vanguard Group | 30 Sep 2025 | |||
| Schonfeld Strategic Advisors LLC | 4.9% | -20% | $12,571,196 | -$2,713,568 | 4,305,204 | -18% | Schonfeld Strategic Advisors LLC | 31 Mar 2025 |
| ORBIMED ADVISORS LLC | 4.8% | $31,842,911 | 4,240,068 | ORBIMED ADVISORS LLC | 03 Nov 2025 | |||
| CITADEL ADVISORS LLC | 4.1% | $10,118,696 | 3,465,307 | Kenneth Griffin | 31 Dec 2024 | |||
| Deep Track Capital, LP | 3% | -62% | $111,762,000 | -$154,160,600 | 3,150,000 | -58% | Deep Track Capital, LP | 31 Dec 2025 |
| Vivo Opportunity Fund Holdings, L.P. | 2.5% | $95,817,820 | 2,700,615 | Vivo Opportunity Fund Holdings, L.P. | 31 Jan 2025 | |||
| Commodore Capital LP | 1.4% | -73% | $52,333,000 | -$149,903,000 | 1,475,000 | -74% | Commodore Capital LP | 31 Dec 2025 |
| Soleus Capital Master Fund, L.P. | 0.2% | -94% | $7,546,951 | -$281,348,949 | 212,710 | -97% | Soleus Capital Master Fund, L.P. | 31 Dec 2025 |
As of 31 Dec 2025, 240 institutional investors reported holding 117,507,285 shares of Terns Pharmaceuticals, Inc. - Common Stock, $0.0001 par value per share (TERN). This represents 112% of the company’s total 105,357,143 outstanding shares.
The largest institutional shareholders of Terns Pharmaceuticals, Inc. - Common Stock, $0.0001 par value per share (TERN) together control 73% of the company’s outstanding shares — a level of ownership often associated with strong institutional conviction and long‑term capital commitment.
| Institution | Ownership % | Shares Held | Share Change % | Portfolio % | Holdings Value |
|---|---|---|---|---|---|
| BlackRock, Inc. | 7.8% | 8,194,218 | +48% | 0.01% | $331,046,406 |
| MORGAN STANLEY | 7.5% | 7,945,608 | +4.7% | 0.02% | $321,002,599 |
| ADAGE CAPITAL PARTNERS GP, L.L.C. | 5.3% | 5,550,000 | +41% | 0.34% | $224,220,000 |
| VANGUARD GROUP INC | 5.2% | 5,523,948 | +21% | 0% | $223,167,499 |
| Vivo Capital, LLC | 5.1% | 5,346,928 | -22% | 14% | $216,015,891 |
| Vestal Point Capital, LP | 4.3% | 4,500,000 | 6.7% | $181,800,000 | |
| JANUS HENDERSON GROUP PLC | 3.2% | 3,379,569 | 0.06% | $136,495,568 | |
| CITADEL ADVISORS LLC | 3% | 3,166,642 | +99% | 0.09% | $127,932,337 |
| Capitolis Liquid Global Markets LLC | 2.9% | 3,045,200 | 0.73% | $123,026,080 | |
| Holocene Advisors, LP | 2.6% | 2,775,493 | 0.24% | $112,129,917 | |
| FRANKLIN RESOURCES INC | 2.6% | 2,731,312 | +114% | 0.03% | $110,345,002 |
| LORD, ABBETT & CO. LLC | 2.6% | 2,712,399 | 0.34% | $109,581,000 | |
| ORBIMED ADVISORS LLC | 2% | 2,153,300 | -72% | 1.9% | $86,993,320 |
| GEODE CAPITAL MANAGEMENT, LLC | 2% | 2,096,642 | +22% | 0.01% | $84,723,240 |
| AMERIPRISE FINANCIAL INC | 1.8% | 1,894,381 | 0.02% | $76,533,050 | |
| STATE STREET CORP | 1.7% | 1,775,922 | +11% | 0% | $71,747,249 |
| JPMORGAN CHASE & CO | 1.7% | 1,773,026 | +160% | 0% | $71,630,251 |
| ACORN CAPITAL ADVISORS, LLC | 1.7% | 1,746,264 | -11% | 24% | $70,549,066 |
| Nearwater Capital Markets, Ltd | 1.6% | 1,704,800 | 1.2% | $68,873,920 | |
| Ikarian Capital, LLC | 1.5% | 1,596,378 | +872% | 8.4% | $64,493,671 |
| Pictet Asset Management Holding SA | 1.5% | 1,577,116 | +43% | 0.06% | $63,745,572 |
| HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND | 1.4% | 1,515,400 | 0.1% | $61,222,160 | |
| Commodore Capital LP | 1.4% | 1,475,000 | -74% | 4% | $59,590,000 |
| TORONTO DOMINION BANK | 1.3% | 1,400,802 | 0.1% | $56,592,401 | |
| Woodline Partners LP | 1.3% | 1,377,283 | +372% | 0.22% | $55,642,233 |
| Period | Reported Shares, Excl. Options | Value, Excl. Options | Value Change | Price (Median) | Investors |
|---|---|---|---|---|---|
| 2025 Q4 | 117,507,285 | $4,747,430,831 | +$1,159,587,817 | $40.40 | 240 |
| 2025 Q3 | 88,633,130 | $665,700,838 | +$50,617,366 | $7.51 | 140 |
| 2025 Q2 | 83,108,168 | $309,995,477 | +$2,354,788 | $3.73 | 126 |
| 2025 Q1 | 83,089,113 | $229,386,277 | -$20,904,178 | $2.76 | 134 |
| 2024 Q4 | 86,147,142 | $477,240,000 | +$3,828,882 | $5.54 | 156 |
| 2024 Q3 | 79,491,087 | $663,002,763 | +$119,235,330 | $8.34 | 153 |
| 2024 Q2 | 65,586,958 | $446,681,549 | +$17,184,836 | $6.81 | 124 |
| 2024 Q1 | 63,239,404 | $414,841,261 | -$1,823,851 | $6.56 | 112 |
| 2023 Q4 | 63,584,855 | $412,672,679 | +$14,024,936 | $6.49 | 102 |
| 2023 Q3 | 61,708,912 | $310,396,950 | +$8,574,392 | $5.03 | 92 |
| 2023 Q2 | 57,715,917 | $505,015,397 | +$31,653,493 | $8.75 | 102 |
| 2023 Q1 | 53,226,532 | $630,202,113 | +$46,248,002 | $11.84 | 79 |
| 2022 Q4 | 49,723,793 | $506,193,882 | +$199,453,477 | $10.18 | 65 |
| 2022 Q3 | 30,203,299 | $177,898,000 | +$107,051,162 | $5.89 | 43 |
| 2022 Q2 | 14,707,603 | $36,472,000 | -$6,462,439 | $2.48 | 37 |
| 2022 Q1 | 16,836,162 | $50,004,000 | -$1,388,822 | $2.97 | 43 |
| 2021 Q4 | 16,503,387 | $116,663,000 | -$4,531,477 | $7.07 | 37 |
| 2021 Q3 | 16,724,968 | $174,276,000 | +$979,766 | $10.42 | 33 |
| 2021 Q2 | 16,621,217 | $203,777,000 | -$24,794,385 | $12.26 | 36 |
| 2021 Q1 | 17,905,204 | $393,648,000 | +$393,098,000 | $22.00 | 41 |