Terns Pharmaceuticals, Inc.
US ˙ NasdaqGS ˙ US8808811074
DETTE SYMBOL ER IKKE LÆNGERE AKTIVT

SecurityTERN / Terns Pharmaceuticals, Inc.
InstitutionNorges Bank
Latest Disclosed Ownership395,205 shares
Latest Disclosed Value $ 15,966,282
Norges Bank ownership in TERN / Terns Pharmaceuticals, Inc.

On February 10, 2026 - Norges Bank filed a 13F-HR form disclosing ownership of 395,205 shares of Terns Pharmaceuticals, Inc. (US:TERN) valued at $15,966,282 USD as of December 31, 2025. The entity filed a previous 13F-HR/A on May 11, 2026 disclosing 0 shares of Terns Pharmaceuticals, Inc.. The current value of the position is $20,926,105 USD.

Institutional Ownership: 13F and NPORT Filings

The Security and Class in the table below are shown exactly as filed by the investor. We do our best to track continuity of investments through acquisitions, and this will be reflected in the table as changes in names. In addition to descriptive data, performance of the investment is shown over time. To calculate quarterly performance, we first calculate cost basis of the shares purchased during the quarter, then use that to calculate gross profit. Quarterly return is Gross Profit / Starting Portfolio value.

Note that cost basis is calculated and stored in thousands, so small quarterly changes in shares frequently result in a cost basis of zero.

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Disclosed Equity Positions (from 13F/NPORT Filings)
File
Date		 Effective
Date		Form Security Class ID Avg Price
Paid (Est)		 Reported
Shares		 ΔShares ΔShares
(%)		 Reported
Value
(x1000)		 ΔValue
(%)		 Alloc
(%)		 ΔAlloc ΔAlloc (%) Cost Basis
(x1000)		 Unrealized
Gain/Loss
(x1000)
2026-02-10 2025-12-31 13F TERNS PHARMACEUTICALS COM 880881107 395,205 395,205 15,966 0.0017
2026-05-11 2025-03-31 13F/A-1 TERNS PHARMACEUTICALS COM 880881107 0 -100.00 0
2025-05-13 2025-03-31 13F TERNS PHARMACEUTICALS COM 880881107 0 -849,389 -100.00 0 -100.00
2025-02-12 2024-12-31 13F TERNS PHARMACEUTICALS COM 880881107 849,389 849,389 4,706 0.0006
2024-08-14 2024-06-30 13F TERNS PHARMACEUTICALS COM 880881107 0 -137,100 -100.00 0 -100.00
2025-05-14 2024-03-31 13F/A-1 TERNS PHARMACEUTICALS COM 880881107 137,100 -289,600 -67.87 899 -67.53 0.0001
2024-02-09 2023-12-31 13F TERNS PHARMACEUTICALS COM 880881107 426,700 0 0.00 2,769 29.03 0.0005
2024-11-13 2023-09-30 13F/A-1 TERNS PHARMACEUTICALS COM 880881107 426,700 262,800 160.34 2,146 49.65 0.0004
2024-08-14 2023-06-30 13F/A-1 TERNS PHARMACEUTICALS COM 880881107 163,900 163,900 1,434 0.0003
2021-08-10 2021-06-30 13F TERNS PHARMACEUTICALS COM 880881107 0 -23,068 -100.00 0 -100.00
2022-05-09 2021-03-31 13F/A-1 TERNS PHARMACEUTICALS COM 880881107 23,068 23,068 507 0.0001
Legend
Shares
The total number of shares held by the institution at the end of the reporting period (the effective date). This is provided in the filing.
Value
The total value of the shares as of the effective date. This is provided in the filing.
Avg. Share Price
The weighted average share price of the shares held by the institution. We use FIFO accounting to determine this price
Class
This is the security class as indicated by the filer. There are a variety of values for this field. Common values include "EC" = equity common, "EP" - equity preferred
Allocation (%)
The percent of the institution's portfolio that this position represents. This is provided in NPORT filings. For 13F filings, we calculate it.
Change in Allocation
The change in allocation from the prior reporting period. This is calculated as current allocation - prior allocation.
Change in Allocation (%)
The percent change in allocation from the prior reporting period. This is calculated as (current allocation - prior allocation) / prior allocation.
Cost Basis
The total cost of the shares held. This is calculated as reported shares * avg. share price
Unrealized Gain/Loss
This is the market value of the position as of the effective date minus the cost basis.