Tourmaline Bio
TRML
TRML was delisted on the 27th of October, 2025.
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.
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
Top Buyers
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
ACA
Avoro Capital Advisors
New York
|
-$122M |
| 2 |
QF
QVT Financial
New York
|
-$103M |
| 3 |
BlackRock
New York
|
-$72.6M |
| 4 |
TCM
TCG Crossover Management
Palo Alto,
California
|
-$62.7M |
| 5 |
P
Pfizer
New York
|
-$60.8M |
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.