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TBMC

Trailblazer Merger Corp I
TBMC

Delisted

TBMC was delisted on the 26th of March, 2026.

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12 hedge funds and large institutions have $19.8M invested in Trailblazer Merger Corp I in 2025 Q3 according to their latest regulatory filings, with 1 funds opening new positions, 3 increasing their positions, 3 reducing their positions, and 4 closing their positions.

New
Increased
Maintained
Reduced
Closed

0% more repeat investments, than reductions

Existing positions increased: 3 | Existing positions reduced: 3

4.82% less ownership

Funds ownership: 42.74% → 37.91% (-4.8%)

12% less capital invested

Capital invested by funds: $22.5M → $19.8M (-$2.7M)

20% less funds holding

Funds holding: 15 → 12 (-3)

75% less first-time investments, than exits

New positions opened: 1 | Existing positions closed: 4

Holders
12
Holders Change
-3
Holders Change %
-20%
% of All Funds
0.16%
Holding in Top 10
–
Holding in Top 10 Change
–
Holding in Top 10 Change %
–
% of All Funds
–
New
1
Increased
3
Reduced
3
Closed
4
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

Rank Fund Capital Flow
1
SC
Shay Capital
New York
+$1.08M
2
CS
Clear Street
New York
+$579K
3
TI
TrueMark Investments
Illinois
+$211K
4
Morgan Stanley
Morgan Stanley
New York
+$58

Top Sellers

Rank Fund Capital Flow
1
Toronto Dominion Bank
Toronto Dominion Bank
Ontario, Canada
-$2.04M
2
MSU
Mizuho Securities USA
New York
-$1.54M
3
WAM
Wolverine Asset Management
Illinois
-$851K
4
Citadel Advisors
Citadel Advisors
Florida
-$131K
5
UBS Group
UBS Group
Switzerland
-$20.8K
Name Holding Trade Value Shares
Change 		Change in
Stake
AA
1
AQR Arbitrage
Connecticut
$5.1M -$20.5K -1,764 -0.4%
HCI
2
Harraden Circle Investments
New York
$2.55M – – –
WRBC
3
W.R. Berkley Corp
Connecticut
$2.44M – – –
CS
4
Clear Street
New York
$2.18M +$579K +49,731 +36%
RCM
5
Rivernorth Capital Management
Florida
$1.91M -$11.4K -979 -0.6%
SC
6
Shay Capital
New York
$1.64M +$1.08M +92,715 +195%
ASM
7
ATW SPAC Management
New York
$1.56M – – –
BFM
8
Boothbay Fund Management
New York
$1.56M – – –
GCL
9
Glazer Capital LLC
New York
$556K – – –
TI
10
TrueMark Investments
Illinois
$216K +$211K +18,109 New
UBS Group
11
UBS Group
Switzerland
$84.9K -$20.8K -1,789 -20%
Morgan Stanley
12
Morgan Stanley
New York
$199 +$58 +5 +42%
Toronto Dominion Bank
13
Toronto Dominion Bank
Ontario, Canada
– -$2.04M -173,786 Closed
MSU
14
Mizuho Securities USA
New York
– -$1.54M -134,330 Closed
WAM
15
Wolverine Asset Management
Illinois
– -$851K -72,690 Closed
Citadel Advisors
16
Citadel Advisors
Florida
– -$131K -11,182 Closed

TBMC Hedge Fund Activity: Q3 2025 in Review

12 of the 7,631 institutional investors tracked by Wall St. Rank reported a position in Trailblazer Merger Corp I (TBMC) for Q3 2025, worth a combined $19.8M — down 12% from $22.5M a quarter earlier.

Sellers outnumbered buyers: 4 funds closed out of TBMC and 1 opened new positions — a net loss of 3 holders — while 3 trimmed existing stakes and 3 added.

The largest buyer was Shay Capital, adding an estimated $1.08M. The largest seller was Toronto Dominion Bank, exiting entirely with an estimated $2.04M sold.

  • 12 institutional investors held Trailblazer Merger Corp I (TBMC) as of Q3 2025, down from 15 in Q2 2025.
  • Funds reported $19.8M of Trailblazer Merger Corp I stock for Q3 2025, down 12% quarter-over-quarter.
  • 1 fund opened new Trailblazer Merger Corp I positions in Q3 2025 and 4 closed out, a net change of -3 holders.
  • The largest Trailblazer Merger Corp I buyer in Q3 2025 was Shay Capital, an estimated $1.08M added.
  • The largest Trailblazer Merger Corp I seller in Q3 2025 was Toronto Dominion Bank, an estimated $2.04M sold.

Based on aggregated 13F filings for Q3 2025.