Trailblazer Merger Corporation

TBMCR • NASDAQ

Trailblazer Merger Corporation is a blank checks company on NASDAQ. As of Q3 2025, 16 institutional investors hold shares in this company, with total holdings valued at $1.1M. HIGHBRIDGE CAPITAL MANAGEMENT LLC is the largest holder with a position valued at $408.8K.

BLANK CHECKS

Country

United States of America

Overview

Overview of institutional ownership in TBMCR as of Q3 2025

All Institutions

Institutions: 16
Value Held: $1.1M
Shares Held: 4.6M
Avg Position: $70.0K
Median Position: $30.0K

Hedge Funds

Hedge Funds: 8
Value Held: $894.6K
Shares Held: 3.7M
Avg Position: $111.8K
Median Position: $37.8K

Biggest Investors

Institutions with the largest positions in TBMCR as of Q3 2025

Institution	Key People	Position Value	Ownership	Owned Since	Total AUM (Long)
H HIGHBRIDGE CAPITAL MANAGEMENT LLC Hedge Fund•Multi-Strategy	Jason Keith Hempel CIO	$408.8K 0.07% of portfolio	0.00% 1.6M shares	Q4 2024 Held for 11 months	$597.8M
H Harraden Circle Investments, LLC Hedge Fund•Event Driven	Frederick Vincent Fortmiller Jr Managing Partner	$214.3K 0.04% of portfolio	0.00% 857.0K shares	Q4 2024 Held for 11 months	$476.2M
CNH PARTNERS LLC Hedge Fund•Multi-Strategy	Herbert James Willcox CCO	$134.7K 0.01% of portfolio	0.00% 538.8K shares	Q2 2023 Held for 2y 5m	$2.7B
BOOTHBAY FUND MANAGEMENT, LLC Fund of Funds	Ari Louis Glass Managing Partner	$84.2K 0.00% of portfolio	0.00% 336.6K shares	Q2 2023 Held for 2y 5m	$3.8B
A ATW SPAC MANAGEMENT LLC Institution	-	$84.2K 0.14% of portfolio	0.00% 336.6K shares	Q2 2023 Held for 2y 5m	$61.6M
Wealthspring Capital LLC Hedge Fund•Event Driven	Matthew Simpson Managing Partner	$43.3K 0.01% of portfolio	0.00% 216.3K shares	Q2 2023 Held for 2y 5m	$355.5M
GABELLI FUNDS LLC Long Only Manager	David Marc Goldman President	$34.8K 0.00% of portfolio	0.00% 139.1K shares	Q2 2023 Held for 2y 5m	$14.5B
RIVERNORTH CAPITAL MANAGEMENT, LLC Hedge Fund•Multi-Strategy	Patrick William Galley CEO	$32.2K 0.00% of portfolio	0.00% 161.1K shares	Q2 2023 Held for 2y 5m	$1.7B
GABELLI SECURITIES INC Hedge Fund•Multi-Strategy	Patrick Bernard Huvane CEO	$27.7K 0.00% of portfolio	0.00% 111.0K shares	Q2 2023 Held for 2y 5m	$610.0M
Y Yakira Capital Management, Inc. Hedge Fund•Event Driven	Bruce Mitchell Kallins President	$18.5K 0.01% of portfolio	0.00% 74.1K shares	Q2 2023 Held for 2y 5m	$243.3M

Net Capital Flow

Institutional buying and selling activity for TBMCR in Q3 2025

Traded: −$5.4K
Buyers: 1
Sellers: 3
Total Bought: +$4.8K
Total Sold: −$10.2K
Avg Position: $70.0K

Biggest Buyers

Institution	Net Bought	Current Position
T TrueMark Investments, LLC Institution	+$4.8K +19.1K shares	$4.8K 19.1K shares

Biggest Sellers

Institution	Net Sold	Current Position
H HEIGHTS CAPITAL MANAGEMENT, INC Institution	−$8.2K −33.0K shares	$2.9K 11.7K shares
H HIGHBRIDGE CAPITAL MANAGEMENT LLC Hedge Fund•Multi-Strategy	−$1.4K −5.5K shares	$408.8K 1.6M shares
Bulldog Investors, LLC Hedge Fund•Activist	−$577.9 −2.9K shares	$15.0K 75.2K shares

Entry and Exit Activity

Institutions that initiated new positions or completely exited TBMCR in Q3 2025

New Positions: 0
New Value: -
Exited Positions: 0
Exited Value: -

New Positions

Institution	Position Value
No new positions found

Exited Positions

Institution	Previous Position
No exited positions found

Options Activity

Institutions with the largest Call and Put options positions in TBMCR as of Q3 2025

Call Positions: 0
Call Value: -
Put Positions: 0
Put Value: -

Call Positions

Institution	Position Value
No call positions found

Put Positions

Institution	Position Value
No put positions found

Most Committed Institutions

Institutions with TBMCR as the highest % of their portfolio as of Q3 2025

Institution	Key People	Portfolio Weight	Ownership	Owned Since	Total AUM (Long)
A ATW SPAC MANAGEMENT LLC Institution	-	0.14% $84.2K	0.00% 336.6K shares	Q2 2023 Held for 2y 5m	$61.6M
H HIGHBRIDGE CAPITAL MANAGEMENT LLC Hedge Fund•Multi-Strategy	Jason Keith Hempel CIO	0.07% $408.8K	0.00% 1.6M shares	Q4 2024 Held for 11 months	$597.8M
H Harraden Circle Investments, LLC Hedge Fund•Event Driven	Frederick Vincent Fortmiller Jr Managing Partner	0.04% $214.3K	0.00% 857.0K shares	Q4 2024 Held for 11 months	$476.2M
Wealthspring Capital LLC Hedge Fund•Event Driven	Matthew Simpson Managing Partner	0.01% $43.3K	0.00% 216.3K shares	Q2 2023 Held for 2y 5m	$355.5M
Y Yakira Capital Management, Inc. Hedge Fund•Event Driven	Bruce Mitchell Kallins President	0.01% $18.5K	0.00% 74.1K shares	Q2 2023 Held for 2y 5m	$243.3M
CNH PARTNERS LLC Hedge Fund•Multi-Strategy	Herbert James Willcox CCO	0.01% $134.7K	0.00% 538.8K shares	Q2 2023 Held for 2y 5m	$2.7B
GABELLI SECURITIES INC Hedge Fund•Multi-Strategy	Patrick Bernard Huvane CEO	0.00% $27.7K	0.00% 111.0K shares	Q2 2023 Held for 2y 5m	$610.0M
Bulldog Investors, LLC Hedge Fund•Activist	Phillip Franklin Goldstein Managing Partner	0.00% $15.0K	0.00% 75.2K shares	Q2 2023 Held for 2y 5m	$409.9M
BOOTHBAY FUND MANAGEMENT, LLC Fund of Funds	Ari Louis Glass Managing Partner	0.00% $84.2K	0.00% 336.6K shares	Q2 2023 Held for 2y 5m	$3.8B
RIVERNORTH CAPITAL MANAGEMENT, LLC Hedge Fund•Multi-Strategy	Patrick William Galley CEO	0.00% $32.2K	0.00% 161.1K shares	Q2 2023 Held for 2y 5m	$1.7B

Hedge Fund Spotlight

Discover hedge funds investing in TBMCR

Wealthspring Capital LLC

Hedge Fund • Event Driven

Portfolio ManagerMatthew Simpson

Portfolio Value: $355.5M
Positions: 101
Last Reported: Q3 2025

Sector Allocation

Position in Trailblazer Merger Corporation

Market Value: $43.3K
Shares Held: 216.3K
Portfolio Weight: 0.01%
Owned Since: 2023-Q2

Top Holding	Sector	Market Value	Weight
1 Haymaker Acquisition Corp. HYAC	Shell Companies Financial Services	$19.0M	5.35%
2 Centurion Acquisition Corp. ALF	Unknown Unknown	$15.8M	4.45%
3 Legato Merger Corp. LEGT	Shell Companies Financial Services	$15.7M	4.42%