Ranked by reported Q4 2025 13F market value
Share of total reported institutional value in TBMC held by the largest 10 / 25 filers.
| # | Institution | Shares Held | Market Value | QoQ Change | Ownership % | % of Fund |
|---|---|---|---|---|---|---|
| 1 | BERKLEY W R CORP | 43K | $576K | -79.0% | 1.088% | 0.03% |
| 2 | Clear Street Group Inc. | 22K | $292K | -88.3% | 0.551% | 0.00% |
| 3 | Shay Capital LLC | 18K | $236K | -87.4% | 0.446% | 0.05% |
| 4 | UBS Group AG | 315 | $4K | -95.7% | 0.008% | 0.00% |
| 5 | GLAZER CAPITAL, LLC | 47K | $631 | -0.4% | 1.192% | 0.02% |
| 6 | MORGAN STANLEY | 15 | $200 | -11.8% | 0.000% | 0.00% |
denotes a marquee investor (Buffett, Burry, ARK, Tiger Global, Pershing Square, Baupost and other widely-followed managers). “% of Fund” shows how much of that investor’s total 13F portfolio is invested in TBMC — a direct measure of their conviction.
Filings activity in TBMC during Q4 2025, grouped by how each filer changed its position.
8 quarters of 13F filings · Δ columns show change vs prior quarter
| Quarter | Inst. Holders | Δ Holders | Ownership % | Δ Ownership | Total 13F Value | Δ Value |
|---|---|---|---|---|---|---|
| Q4 2025 | 6 | 50% | 3.81% | 62.22 pp | $1M | 94% |
| Q3 2025 | 12 | 25% | 66.03% | 9.27 pp | $19M | 12% |
| Q2 2025 | 16 | 11% | 75.30% | 12.45 pp | $22M | 14% |
| Q1 2025 | 18 | +5.9% | 87.75% | +1.12 pp | $26M | +1.3% |
| Q4 2024 | 17 | 43% | 86.63% | 76.82 pp | $25M | 47% |
| Q3 2024 | 30 | 21% | 163.45% | 36.54 pp | $48M | 27% |
| Q2 2024 | 38 | +2.7% | 199.99% | +0.00 pp | $65M | 0.1% |
| Q1 2024 | 37 | — | 199.99% | — | $65M | — |
Source: SEC 13F institutional filings. Ownership % requires market cap data and will show once linked. Δ columns compare to the immediately prior filed quarter.
Quick answers to the most common questions about buying TBMC stock.
Based on Q4 2025 13F filings, institutional ownership of Trailblazer Merger Corporation I stands at 3.8%, held across 6 reporting institutions.
BERKLEY W R CORP is the largest reported institutional holder of TBMC, with approximately 43,243 shares worth $0.00B as of Q4 2025.
No marquee "smart money" managers (Berkshire, Burry, ARK, Tiger Global, Pershing Square, Baupost, etc.) currently appear among the top 25 institutional holders of TBMC.
Our composite Smart Money Score for TBMC is 8 out of 100 (Heavy Distribution). It combines net institutional buying activity, ownership shift, marquee investor presence, and holder-count growth.
0 institutions opened new positions in TBMC during Q4 2025, while 6 fully exited. 2 added to existing positions and 4 trimmed.
TBMC institutional ownership fell by 62.22 percentage points quarter-over-quarter, with a net change of -6 holders.
The top 10 institutions account for 100.0% of all reported 13F value in TBMC, and the top 25 account for 100.0%.
All data is sourced from SEC Form 13F filings, which institutional investment managers with at least $100M in assets are required to file each quarter. We process every 13F filing from EDGAR and recompute the aggregates after each cycle. Insider transactions are sourced from Form 4 filings.
Trailblazer Merger Corporation I (TBMC) Institutional Ownership