Trailblazer Merger Corp I
TBMC
TBMC was delisted on the 26th of March, 2026.
6 hedge funds and large institutions have $1.74M invested in Trailblazer Merger Corp I in 2025 Q4 according to their latest regulatory filings, with 0 funds opening new positions, 0 increasing their positions, 6 reducing their positions, and 5 closing their positions.
32.59% less ownership
Funds ownership: 37.91% → 5.32% (-33%)
50% less funds holding
Funds holding: 12 → 6 (-6)
91% less capital invested
Capital invested by funds: $19.8M → $1.74M (-$18M)
100% less first-time investments, than exits
New positions opened: 0 | Existing positions closed: 5
100% less repeat investments, than reductions
Existing positions increased: 0 | Existing positions reduced: 6
Top Buyers
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
AA
AQR Arbitrage
Greenwich,
Connecticut
|
-$5.1M |
| 2 |
HCI
Harraden Circle Investments
New York
|
-$2.55M |
| 3 |
CS
Clear Street
New York
|
-$1.96M |
| 4 |
WRBC
W.R. Berkley Corp
Greenwich,
Connecticut
|
-$1.93M |
| 5 |
RCM
Rivernorth Capital Management
West Palm Beach,
Florida
|
-$1.91M |
| Name | Holding | Trade Value |
Shares Change |
Change in Stake |
|
|---|---|---|---|---|---|
|
GCL
1
Glazer Capital LLC
New York
| $631K | -$2.51K | -211 | -0.4% |
|
|
WRBC
2
W.R. Berkley Corp
Greenwich,
Connecticut
| $576K | -$1.93M | -162,574 | -79% |
|
|
CS
3
Clear Street
New York
| $292K | -$1.96M | -164,972 | -88% |
|
|
SC
4
Shay Capital
New York
| $236K | -$1.46M | -122,557 | -87% |
|
5
UBS Group
Zurich,
Switzerland
| $4.2K | -$82.7K | -6,952 | -96% |
|
6
Morgan Stanley
New York
| $200 | -$24 | -2 | -12% |
|
|
AA
7
AQR Arbitrage
Greenwich,
Connecticut
| – | -$5.1M | -435,910 | Closed |
|
|
HCI
8
Harraden Circle Investments
New York
| – | -$2.55M | -217,972 | Closed |
|
|
RCM
9
Rivernorth Capital Management
West Palm Beach,
Florida
| – | -$1.91M | -160,109 | Closed |
|
|
BFM
10
Boothbay Fund Management
New York
| – | -$1.56M | -133,434 | Closed |
|
|
TI
11
TrueMark Investments
Chicago,
Illinois
| – | -$216K | -18,109 | Closed |
|
TBMC Hedge Fund Activity: Q4 2025 in Review
6 of the 8,256 institutional investors tracked by Wall St. Rank reported a position in Trailblazer Merger Corp I (TBMC) for Q4 2025, worth a combined $1.74M — down 91% from $19.8M a quarter earlier.
Sellers outnumbered buyers: 5 funds closed out of TBMC and 0 opened new positions — a net loss of 5 holders — while 6 trimmed existing stakes and 0 added.
The largest seller was AQR Arbitrage, exiting entirely with an estimated $5.1M sold.
- 6 institutional investors held Trailblazer Merger Corp I (TBMC) as of Q4 2025, down from 12 in Q3 2025.
- Funds reported $1.74M of Trailblazer Merger Corp I stock for Q4 2025, down 91% quarter-over-quarter.
- 0 funds opened new Trailblazer Merger Corp I positions in Q4 2025 and 5 closed out, a net change of -5 holders.
- The largest Trailblazer Merger Corp I seller in Q4 2025 was AQR Arbitrage, an estimated $5.1M sold.
Based on aggregated 13F filings for Q4 2025.