Trailblazer Merger Corp I
TBMC
TBMC was delisted on the 26th of March, 2026.
15 hedge funds and large institutions have $22.5M invested in Trailblazer Merger Corp I in 2025 Q2 according to their latest regulatory filings, with 2 funds opening new positions, 3 increasing their positions, 6 reducing their positions, and 4 closing their positions.
8.86% less ownership
Funds ownership: 51.59% → 42.74% (-8.9%)
12% less funds holding
Funds holding: 17 → 15 (-2)
50% less first-time investments, than exits
New positions opened: 2 | Existing positions closed: 4
50% less repeat investments, than reductions
Existing positions increased: 3 | Existing positions reduced: 6
62% less capital inflows, than outflows
Capital inflows: $2.72M | Capital outflows: $7.26M
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Clear Street
New York
|
+$1.34M |
| 2 |
Mizuho Securities USA
New York
|
+$597K |
| 3 |
SC
Shay Capital
New York
|
+$557K |
| 4 |
Citadel Advisors
Miami,
Florida
|
+$131K |
| 5 |
UBS Group
Zurich,
Switzerland
|
+$97.9K |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Karpus Investment Management
Pittsford,
New York
|
-$2.68M |
| 2 |
ASM
ATW SPAC Management
New York
|
-$1.05M |
| 3 |
Boothbay Fund Management
New York
|
-$1.05M |
| 4 |
Toronto Dominion Bank
Toronto, Ontario,
Ontario, Canada
|
-$869K |
| 5 |
Wolverine Asset Management
Chicago,
Illinois
|
-$862K |
TBMC Hedge Fund Activity: Q2 2025 in Review
15 of the 7,618 institutional investors tracked by Wall St. Rank reported a position in Trailblazer Merger Corp I (TBMC) for Q2 2025, worth a combined $22.5M — down 14% from $26.1M a quarter earlier.
Sellers outnumbered buyers: 4 funds closed out of TBMC and 2 opened new positions — a net loss of 2 holders — while 6 trimmed existing stakes and 3 added.
The largest buyer was Clear Street, adding an estimated $1.34M. The largest seller was Karpus Investment Management, exiting entirely with an estimated $2.68M sold.
- 15 institutional investors held Trailblazer Merger Corp I (TBMC) as of Q2 2025, down from 17 in Q1 2025.
- Funds reported $22.5M of Trailblazer Merger Corp I stock for Q2 2025, down 14% quarter-over-quarter.
- 2 funds opened new Trailblazer Merger Corp I positions in Q2 2025 and 4 closed out, a net change of -2 holders.
- The largest Trailblazer Merger Corp I buyer in Q2 2025 was Clear Street, an estimated $1.34M added.
- The largest Trailblazer Merger Corp I seller in Q2 2025 was Karpus Investment Management, an estimated $2.68M sold.
Based on aggregated 13F filings for Q2 2025.