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)
100% less capital inflows, than outflows
Capital inflows: $0 | Capital outflows: $16.8M
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 |
AQR Arbitrage
Greenwich,
Connecticut
|
-$5.1M |
| 2 |
HCI
Harraden Circle Investments
New York
|
-$2.55M |
| 3 |
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 |
TBMC Hedge Fund Activity: Q4 2025 in Review
6 of the 8,288 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.