QUSVM
TRML

Qiming U.S. Ventures Management’s Tourmaline Bio TRML Stock Holding History

Qiming U.S. Ventures Management’s Portfolio TRML Stock Details TRML Fund Activity
Bought
Maintained
Sold
Quarter Market Value Status Shares Change in
Stake 		Trade Value Portfolio Weight Portfolio Position
2025
Q3 		$35.5M Hold
741,691
– – 63.76% 1
2025
Q2 		$11.9M Hold
741,691
– – 50.22% 1
2025
Q1 		$11.3M Hold
741,691
– – 48.83% 1
2024
Q4 		$15M Hold
741,691
– – 29.41% 2
2024
Q3 		$19.1M Hold
741,691
– – 37.12% 1
2024
Q2 		$9.54M Hold
741,691
– – 18.13% 3
2024
Q1 		$17M Buy
741,691
+100,000
+16% +$3.53M 18.94% 3
2023
Q4 		$16.8M Buy
641,691
+348,430
+119% +$6.97M 15.38% 3
2023
Q3 		$8.24M Hold
293,261
– – 10.94% 3
2023
Q2 		$8.92M Hold
293,261
– – 9.37% 5
2023
Q1 		$5.51M Hold
293,261
– – 6.67% 5
2022
Q4 		$2.99M Hold
293,261
– – 3.96% 5
2022
Q3 		$7.71M Hold
293,261
– – 11.2% 4
2022
Q2 		$13.2M Hold
293,261
– – 18.36% 2
2022
Q1 		$28.9M Hold
293,261
– – 27.11% 1
2021
Q4 		$44.8M Buy
+293,261
New +$43.4M 20.63% 3

Other funds holding TRML

ACA
Avoro Capital Advisors New York $10.2B AUM 149.19% 1-Year Est. Return
QF
QVT Financial New York $1.37B AUM 148.1% 1-Year Est. Return
BlackRock
BlackRock New York $5.72T AUM 30.48% 1-Year Est. Return
TCM
TCG Crossover Management Palo Alto, California $3.5B AUM 1,165.83% 1-Year Est. Return
P
Pfizer New York $239M AUM 232.47% 1-Year Est. Return
Vanguard Group
Vanguard Group Malvern, Pennsylvania $6.9T AUM 27.45% 1-Year Est. Return
Fidelity International
Fidelity International Hamilton, Bermuda $129B AUM 30.83% 1-Year Est. Return
MF
Magnetar Financial Evanston, Illinois $9.84B AUM 190.64% 1-Year Est. Return
FTCM
First Trust Capital Management Chicago, Illinois $1.9B AUM 58.39% 1-Year Est. Return
TAL
TIG Advisors LLC New York $2.16B AUM 72.99% 1-Year Est. Return

Qiming U.S. Ventures Management's TRML Position: Q3 2025 in Review

Qiming U.S. Ventures Management held its Tourmaline Bio (TRML) position steady in Q3 2025 at 741,691 shares worth $35.5M. The position accounts for 63.76% of the portfolio, ranked #1.

Qiming U.S. Ventures Management first reported a position in TRML in Q4 2021 and has held it in 16 quarters since. The position peaked at $44.8M in Q4 2021. 134 funds tracked by Wall St. Rank hold TRML as of Q3 2025.

  • Qiming U.S. Ventures Management held 741,691 shares of Tourmaline Bio worth $35.5M as of Q3 2025.
  • Qiming U.S. Ventures Management left its Tourmaline Bio share count unchanged in Q3 2025.
  • Tourmaline Bio made up 63.76% of Qiming U.S. Ventures Management's portfolio in Q3 2025, its #1 holding.
  • Qiming U.S. Ventures Management first reported a position in Tourmaline Bio in Q4 2021 and has held it in 16 quarters since.
  • Qiming U.S. Ventures Management's Tourmaline Bio position peaked at $44.8M in Q4 2021.
  • 134 funds tracked by Wall St. Rank held Tourmaline Bio as of Q3 2025.

Based on Qiming U.S. Ventures Management's 13F filing for Q3 2025, filed 10 Nov 2025.