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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
WAM
76
Wolverine Asset Management
Illinois
– -$580K -12,120 Closed
Legal & General Group
77
Legal & General Group
United Kingdom
– -$564K -11,784 Closed
JG
78
Jain Global
New York
– -$531K -11,093 Closed
MIM
79
MetLife Investment Management
New Jersey
– -$497K -10,394 Closed
California State Teachers Retirement System (CalSTRS)
80
California State Teachers Retirement System (CalSTRS)
California
– -$479K -10,021 Closed
GI
81
GAMCO Investors
Connecticut
– -$478K -10,000 Closed
Skandinaviska Enskilda Banken (SEB)
82
Skandinaviska Enskilda Banken (SEB)
Sweden
– -$475K -9,921 Closed
T. Rowe Price Associates
83
T. Rowe Price Associates
Maryland
– -$444K -9,280 Closed
Mirae Asset Global ETFs Holdings
84
Mirae Asset Global ETFs Holdings
Hong Kong
– -$386K -8,063 Closed
SA
85
Sanctuary Advisors
Indiana
– -$365K -7,633 Closed
A
86
AlphaQuest
New York
– -$350K -7,323 Closed
GCM
87
Greenland Capital Management
New York
– -$336K -7,032 Closed
Verition Fund Management
88
Verition Fund Management
Connecticut
– -$334K -6,985 Closed
New York State Common Retirement Fund
89
New York State Common Retirement Fund
New York
– -$292K -6,100 Closed
Janus Henderson Group
90
Janus Henderson Group
United Kingdom
– -$283K -5,926 Closed
Manulife (Manufacturers Life Insurance)
91
Manulife (Manufacturers Life Insurance)
Ontario, Canada
– -$280K -5,848 Closed
VCIM
92
Velan Capital Investment Management
Georgia
– -$277K -5,800 Closed
VIA
93
Virtus Investment Advisers
Connecticut
– -$273K -5,718 Closed
Mariner
94
Mariner
Kansas
– -$267K -5,579 Closed
GC
95
Guggenheim Capital
Illinois
– -$260K -5,437 Closed
PFSRSONJ
96
Police & Firemen's Retirement System of New Jersey
New Jersey
– -$236K -4,939 Closed
BNP Paribas Financial Markets
97
BNP Paribas Financial Markets
France
– -$232K -4,841 Closed
CUAMC
98
China Universal Asset Management Company
China
– -$215K -4,503 Closed
State Board of Administration of Florida Retirement System
99
State Board of Administration of Florida Retirement System
Florida
– -$210K -4,400 Closed
PCM
100
PenderFund Capital Management
British Columbia, Canada
– -$143K -3,000 Closed
2 3
4
5 6

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.