Rivernorth Capital Management’s Trailblazer Merger Corp I TBMC Stock Holding History

Rivernorth Capital Management’s Portfolio TBMC Stock Details TBMC Fund Activity

Bought

Maintained

Sold

Quarter	Market Value	Status	Shares	Change in Stake	Trade Value	Portfolio Weight	Portfolio Position
2025 Q4	–	Sell	-160,109	Closed	-$1.91M	–	493
2025 Q3	$1.91M	Sell	160,109 -979	-0.6%	-$11.4K	0.11%	196
2025 Q2	$1.89M	Hold	161,088	–	–	0.1%	198
2025 Q1	$1.81M	Hold	161,088	–	–	0.1%	171
2024 Q4	$1.79M	Hold	161,088	–	–	0.09%	169
2024 Q3	$1.77M	Hold	161,088	–	–	0.09%	159
2024 Q2	$1.74M	Hold	161,088	–	–	0.08%	163
2024 Q1	$1.7M	Sell	161,088 -2,934	-2%	-$30.8K	0.08%	165
2023 Q4	$1.72M	Hold	164,022	–	–	0.08%	168
2023 Q3	$1.69M	Hold	164,022	–	–	0.09%	177
2023 Q2	$1.67M	Buy	+164,022	New	+$1.66M	0.08%	178

Other funds holding TBMC

GCL

Glazer Capital LLC New York $4.07B AUM 78.71% 1-Year Est. Return

WRBC

W.R. Berkley Corp Greenwich, Connecticut $2.1B AUM 13.6% 1-Year Est. Return

Clear Street New York $39.5B AUM 124.03% 1-Year Est. Return

Shay Capital New York $1.56B AUM 46.17% 1-Year Est. Return

UBS Group Zurich, Switzerland $786B AUM 40.34% 1-Year Est. Return

Morgan Stanley New York $1.89T AUM 35.08% 1-Year Est. Return

Rivernorth Capital Management's TBMC Position: Q4 2025 in Review

Rivernorth Capital Management sold out of Trailblazer Merger Corp I (TBMC) in Q4 2025, closing a stake of 160,109 shares — an estimated $1.91M sold.

Rivernorth Capital Management first reported a position in TBMC in Q2 2023 and held it in 10 quarters. The position peaked at $1.91M in Q3 2025. 6 funds tracked by Wall St. Rank hold TBMC as of Q4 2025.

Rivernorth Capital Management reported no remaining Trailblazer Merger Corp I position as of Q4 2025 after selling out during the quarter.
Rivernorth Capital Management sold 160,109 Trailblazer Merger Corp I shares in Q4 2025, an estimated $1.91M.
Rivernorth Capital Management first reported a position in Trailblazer Merger Corp I in Q2 2023 and held it in 10 quarters.
Rivernorth Capital Management's Trailblazer Merger Corp I position peaked at $1.91M in Q3 2025.
6 funds tracked by Wall St. Rank held Trailblazer Merger Corp I as of Q4 2025.

Based on Rivernorth Capital Management's 13F filing for Q4 2025, filed 17 Feb 2026.