# TRAILBLAZER MERGER CORP I (TBMCR)

> Institutional ownership reported to the SEC as of Q4 2025, from Form 13F filings. Source: https://holderbook.com/stocks/TBMCR/

- Reporting holders: 17
- Reported value: $1.1M
- Held through calls: 0.0%
- Held through puts: 0.0%

A 13F reports long US equity positions only. Shorts, bonds, foreign listings and cash are not visible here, and positions are disclosed up to 45 days after the quarter ends.

## Largest holders

| Manager | Value | Shares | Share of their book | Quarters held |
|---|---|---|---|---|
| [HIGHBRIDGE CAPITAL MANAGEMENT LLC](https://holderbook.com/funds/919185-highbridge-capital-management-llc/) | $408.8K | 1,685,264 | 0.0% | 11 |
| [Harraden Circle Investments, LLC](https://holderbook.com/funds/1910592-harraden-circle-investments-llc/) | $207.9K | 857,046 | 0.0% | 5 |
| [AQR Arbitrage LLC](https://holderbook.com/funds/1167456-aqr-arbitrage-llc/) | $130.7K | 538,763 | 0.0% | 11 |
| [BOOTHBAY FUND MANAGEMENT, LLC](https://holderbook.com/funds/1549230-boothbay-fund-management-llc/) | $81.7K | 336,600 | 0.0% | 11 |
| [Wealthspring Capital LLC](https://holderbook.com/funds/1844495-wealthspring-capital-llc/) | $51.2K | 211,300 | 0.0% | 11 |
| [Limestone Investment Advisors LP](https://holderbook.com/funds/2075597-limestone-investment-advisors-lp/) | $41.2K | 170,000 | 0.0% | 3 |
| [RIVERNORTH CAPITAL MANAGEMENT, LLC](https://holderbook.com/funds/1447578-rivernorth-capital-management-llc/) | $39.1K | 161,088 | 0.0% | 11 |
| [GABELLI FUNDS LLC](https://holderbook.com/funds/1081407-gabelli-funds-llc/) | $33.7K | 139,050 | 0.0% | 11 |
| [Clear Street Group Inc.](https://holderbook.com/funds/1881567-clear-street-group-inc/) | $33.6K | 138,608 | 0.0% | 2 |
| [GABELLI & Co INVESTMENT ADVISERS, INC.](https://holderbook.com/funds/932724-gabelli-co-investment-advisers-inc/) | $26.9K | 110,950 | 0.0% | 11 |
| [Bulldog Investors, LLP](https://holderbook.com/funds/1504304-bulldog-investors-llp/) | $18.0K | 74,399 | 0.0% | 11 |
| [Yakira Capital Management, Inc.](https://holderbook.com/funds/1584639-yakira-capital-management-inc/) | $18.0K | 74,118 | 0.0% | 11 |
| [D. E. Shaw & Co., Inc.](https://holderbook.com/funds/1009207-d-e-shaw-co-inc/) | $12.1K | 50,000 | 0.0% | 11 |
| [TrueMark Investments, LLC](https://holderbook.com/funds/1974457-truemark-investments-llc/) | $4.6K | 19,088 | 0.0% | 2 |
| [SUSQUEHANNA INTERNATIONAL GROUP, LLP](https://holderbook.com/funds/1446194-susquehanna-international-group-llp/) | $4.3K | 17,739 | 0.0% | 1 |
| [TORONTO DOMINION BANK](https://holderbook.com/funds/947263-toronto-dominion-bank/) | $2.4K | 9,900 | 0.0% | 4 |
| [BANK OF AMERICA CORP /DE/](https://holderbook.com/funds/70858-bank-of-america-corp-de/) | $48 | 200 | 0.0% | 10 |

## Quarter by quarter

| Quarter | Holders | Reported value |
|---|---|---|
| Q4 2025 | 17 | $1.1M |
| Q3 2025 | 18 | $1.2M |
| Q2 2025 | 17 | $1.9M |
| Q1 2025 | 20 | $1.3M |
| Q4 2024 | 19 | $1.2M |
| Q3 2024 | 22 | $666.0K |
| Q2 2024 | 23 | $525.9K |
| Q1 2024 | 24 | $328.8K |
| Q4 2023 | 25 | $477.2K |
| Q3 2023 | 27 | $808.3K |
| Q2 2023 | 26 | $664.2K |