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TRML

Tourmaline Bio
TRML

Delisted

TRML was delisted on the 27th of October, 2025.

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0 hedge funds and large institutions have $0 invested in Tourmaline Bio in 2025 Q4 according to their latest regulatory filings, with 0 funds opening new positions, 0 increasing their positions, 0 reducing their positions, and 132 closing their positions.

New
Increased
Maintained
Reduced
Closed

84.15% less ownership

Funds ownership: 84.15% → 0% (-84%)

100% less funds holding

Funds holding: 134 → 0 (-134)

100% less funds holding in top 10

Funds holding in top 10: 9 → 0 (-9)

100% less capital invested

Capital invested by funds: $1.03B → $0 (-$1.03B)

100% less first-time investments, than exits

New positions opened: 0 | Existing positions closed: 132

Holders
–
Holders Change
-134
Holders Change %
-100%
% of All Funds
–
Holding in Top 10
–
Holding in Top 10 Change
-9
Holding in Top 10 Change %
-100%
% of All Funds
–
New
–
Increased
–
Reduced
–
Closed
132
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

No buyers this quarter

Top Sellers

Rank Fund Capital Flow
1
ACA
Avoro Capital Advisors
New York
-$122M
2
QF
QVT Financial
New York
-$103M
3
BlackRock
BlackRock
New York
-$72.6M
4
TCM
TCG Crossover Management
California
-$62.7M
5
P
Pfizer
New York
-$60.8M
Name Holding Trade Value Shares
Change 		Change in
Stake
Northern Trust
26
Northern Trust
Illinois
– -$7.77M -162,540 Closed
Charles Schwab
27
Charles Schwab
California
– -$7.11M -148,706 Closed
Marshall Wace
28
Marshall Wace
United Kingdom
– -$6.87M -143,731 Closed
AA
29
ABC Arbitrage
France
– -$6.69M -139,800 Closed
GF
30
Gabelli Funds
New York
– -$5.73M -119,850 Closed
CCM
31
Chicago Capital Management
Illinois
– -$5.38M -112,406 Closed
HM
32
Harvest Management
New York
– -$4.78M -100,000 Closed
Citadel Advisors
33
Citadel Advisors
Florida
– -$4.57M -95,621 Closed
Renaissance Technologies
34
Renaissance Technologies
New York
– -$4.39M -91,850 Closed
Toronto Dominion Bank
35
Toronto Dominion Bank
Ontario, Canada
– -$4.27M -89,200 Closed
Bank of America
36
Bank of America
North Carolina
– -$4.02M -84,140 Closed
Dimensional Fund Advisors
37
Dimensional Fund Advisors
Texas
– -$3.3M -69,085 Closed
Wellington Management Group
38
Wellington Management Group
Massachusetts
– -$3.04M -63,574 Closed
Susquehanna International Group
39
Susquehanna International Group
Pennsylvania
– -$2.9M -60,649 Closed
CG
40
Carmignac Gestion
France
– -$2.65M -55,412 Closed
HighTower Advisors
41
HighTower Advisors
Illinois
– -$2.55M -53,418 Closed
WIC
42
Water Island Capital
New York
– -$2.44M -50,968 Closed
CC
43
Centiva Capital
New York
– -$2.39M -50,000 Closed
Bank of New York Mellon
44
Bank of New York Mellon
New York
– -$2.39M -49,964 Closed
American Century Companies
45
American Century Companies
Missouri
– -$2.29M -47,788 Closed
N
46
Nuveen
North Carolina
– -$2.27M -47,553 Closed
SPS
47
Susquehanna Portfolio Strategies
Pennsylvania
– -$2.07M -43,189 Closed
TS
48
Twin Securities
New York
– -$1.59M -33,301 Closed
Balyasny Asset Management
49
Balyasny Asset Management
Illinois
– -$1.56M -32,567 Closed
GCIA
50
Gabelli & Co Investment Advisers
New York
– -$1.49M -31,050 Closed
1
2
3 4 5

TRML Hedge Fund Activity: Q4 2025 in Review

0 of the 8,228 institutional investors tracked by Wall St. Rank reported a position in Tourmaline Bio (TRML) for Q4 2025, worth a combined $0 — down 100% from $1.03B a quarter earlier.

Sellers outnumbered buyers: 132 funds closed out of TRML and 0 opened new positions — a net loss of 132 holders — while 0 trimmed existing stakes and 0 added.

The largest seller was Avoro Capital Advisors, exiting entirely with an estimated $122M sold.

  • 0 institutional investors held Tourmaline Bio (TRML) as of Q4 2025, down from 134 in Q3 2025.
  • Funds reported $0 of Tourmaline Bio stock for Q4 2025, down 100% quarter-over-quarter.
  • 0 funds opened new Tourmaline Bio positions in Q4 2025 and 132 closed out, a net change of -132 holders.
  • The largest Tourmaline Bio seller in Q4 2025 was Avoro Capital Advisors, an estimated $122M sold.

Based on aggregated 13F filings for Q4 2025.