Vault-13

TRAILBLAZER ACQUISITION CORP BLZR

ORD SHS CL A · Common Stock · CUSIP G9009S103

66 institutional holders +6 vs Q1 2026
22,927,57922.9m shares reported held*
$232.0mreported value*
7 new 12 added 10 reduced 1 sold out net bought ≈ $6.8m (+671.4k shares)

* Summed across managers. Shares that two managers' reports both contain – a subsidiary's holdings that its parent's report includes too, or a sub-adviser's in its client's – are counted once. Holder counts are more reliable. Implied quarter-end price ≈ $10.12.

Trends to Q2 2026

Institutional holders

Managers reporting a position, each quarter

0255075Q4 25: 53Q1 26: 60Q2 26: 6666Q4 25Q1 26Q2 26
Numbers
QuarterHolders
Q4 202553
Q1 202660
Q2 202666

Buyers vs sellers

Managers adding to or starting a position, vs cutting or selling out

Bought or addedCut or sold out
40040Q1 26: 25 bought or addedQ1 26: 15 cut or sold outQ1 26Q2 26: 19 bought or addedQ2 26: 11 cut or sold outQ2 26
Numbers
QuarterBought or addedCut or sold out
Q1 20262515
Q2 20261911

Biggest buyers

Jain Global LLC Added +499,699+499.7k
Verition Fund Management LLC Added +250,000+250.0k
WOLVERINE ASSET MANAGEMENT LLC Added +157,764+157.8k
MIZUHO SECURITIES USA LLC New +142,937+142.9k
GLAZER CAPITAL, LLC Added +136,287+136.3k
HIGHBRIDGE CAPITAL MANAGEMENT LLC New +84,333+84.3k
TORONTO DOMINION BANK New +75,000+75.0k
Logan Stone Capital, LLC New +35,387+35.4k
Parallax Volatility Advisers, L.P. Added +27,892+27.9k
Baird Financial Group, Inc. New +24,150+24.1k

Biggest sellers

Meteora Capital, LLC Reduced -666,900-666.9k
Virtu Financial LLC Reduced -70,008-70.0k
Wealthspring Capital LLC Reduced -54,288-54.3k
JPMORGAN CHASE & CO Reduced -34,521-34.5k
Shaolin Capital Management LLC Reduced -32,607-32.6k
Clear Street Group Inc. Reduced -12,000-12.0k
CITADEL ADVISORS LLC Sold out -10,916-10.9k
ROYAL BANK OF CANADA Reduced -9,873-9.9k
Kryger Capital LLC Reduced -432-432
MORGAN STANLEY Reduced -24-24

Major shareholders (over 5%)

Anyone who owns more than 5% of a class of the company's shares has to say so: on Schedule 13D if they may try to influence or control the company, on 13G if they're a passive investor, and update it as the stake changes. Each holder's latest filing, from 19 Dec 2024 on; percentages are of the share class, as the holder worked them out.

HolderStakeChangeShares Last filed
METEORA CAPITAL, LLC 13G · institution -2.4 pts · filed 2026-08-14 5.3% -2.4 pts 1.5m≈ $14.8m 2026-08-14

Insider purchases and sales since 1 Apr 2026

Shares bought or sold by the company's own officers, directors and 10% owners, in the open market or privately, as they reported to the SEC on Form 4 (due within two business days of the trade). Grants, option exercises, shares withheld for tax and gifts aren't included.

None reported since 1 Apr 2026.

Holders, Q2 2026

#ManagerLocationShares Value% of their portfolioChangeShares change
1 Meteora Capital, LLC 1.23% of their portfolio Boca Raton, FL 1,465,8861.5m $14.8m $14.8m 1.23% Reduced -666.9k -666,900
2 ADAGE CAPITAL PARTNERS GP, L.L.C. 0.02% of their portfolio Boston, MA 1,200,0001.2m $12.1m $12.1m 0.02% Unchanged
3 D. E. Shaw & Co., Inc. 0.01% of their portfolio New York, NY 1,111,4211.1m $11.2m $11.2m 0.01% Added +20.3k +20,261
4 MMCAP International Inc. SPC 0.86% of their portfolio GRAND CAYMAN, E9 1,000,0001.0m $10.1m $10.1m 0.86% Unchanged
5 Polar Asset Management Partners Inc. 0.18% of their portfolio TORONTO, A6 1,000,0001.0m $10.1m $10.1m 0.18% Unchanged
6 TENOR CAPITAL MANAGEMENT Co., L.P. 0.14% of their portfolio NEW YORK, NY 1,000,0001.0m $10.1m $10.1m 0.14% Unchanged
7 Magnetar Financial LLC 0.09% of their portfolio EVANSTON, IL 999,9871,000.0k $10.1m $10.1m 0.09% Unchanged
8 TWO SIGMA INVESTMENTS, LP 0.01% of their portfolio NEW YORK, NY 869,999870.0k $8.8m $8.8m 0.01% Unchanged
9 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 815,120815.1k $8.2m $8.2m 0.00% Reduced -34.5k -34,521
10 AQR Arbitrage LLC 0.10% of their portfolio Greenwich, CT 719,752719.8k $7.3m $7.3m 0.10% Added +13.5k +13,467
11 Jain Global LLC 0.08% of their portfolio NEW YORK, NY 699,699699.7k $7.1m $7.1m 0.08% Added +499.7k +499,699
12 Radcliffe Capital Management, L.P. 0.51% of their portfolio BALA CYNWYD, PA 662,271662.3k $6.7m $6.7m 0.51% Added +22.3k +22,300
13 GLAZER CAPITAL, LLC 0.16% of their portfolio New York, NY 636,287636.3k $6.4m $6.4m 0.16% Added +136.3k +136,287
14 Parallax Volatility Advisers, L.P. 0.23% of their portfolio San Francisco, CA 601,843601.8k $6.1m $6.1m 0.23% Added +27.9k +27,892
15 Saba Capital Management, L.P. 0.17% of their portfolio NEW YORK, NY 536,151536.2k $5.4m $5.4m 0.17% Reduced -7 -7
16 ARISTEIA CAPITAL, L.L.C. 0.08% of their portfolio GREENWICH, CT 500,000500.0k $5.1m $5.1m 0.08% Unchanged
17 Linden Advisors LP 0.03% of their portfolio New York, NY 500,000500.0k $5.1m $5.1m 0.03% Unchanged
18 Alberta Investment Management Corp 0.03% of their portfolio EDMONTON, A0 500,000500.0k $5.1m $5.1m 0.03% Unchanged
19 PICTON MAHONEY ASSET MANAGEMENT 0.05% of their portfolio Toronto, A6 499,995500.0k $5.1m $5.1m 0.05% Unchanged
20 WOLVERINE ASSET MANAGEMENT LLC 0.06% of their portfolio CHICAGO, IL 456,625456.6k $4.6m $4.6m 0.06% Added +157.8k +157,764
21 Wealthspring Capital LLC 0.94% of their portfolio WEST HARRISON, NY 415,161415.2k $4.2m $4.2m 0.94% Reduced -54.3k -54,288
22 MOORE CAPITAL MANAGEMENT, LP 0.09% of their portfolio NEW YORK, NY 400,000400.0k $4.0m $4.0m 0.09% Unchanged
23 Ghisallo Capital Management LLC 0.08% of their portfolio BOSTON, MA 400,000400.0k $4.0m $4.0m 0.08% Unchanged
24 O'Connor Alternative Investments LLC 0.30% of their portfolio NEW YORK, NY 400,000400.0k $4.0m $4.0m 0.30% Unchanged
25 RIVERNORTH CAPITAL MANAGEMENT, LLC 0.19% of their portfolio WEST PALM BEACH, FL 399,996400.0k $4.1m $4.1m 0.19% Unchanged
26 Periscope Capital Inc. 0.57% of their portfolio Toronto, A6 351,900351.9k $3.6m $3.6m 0.57% Unchanged
27 Verition Fund Management LLC 0.02% of their portfolio GREENWICH, CT 350,055350.1k $3.5m $3.5m 0.02% Added +250.0k +250,000
28 Lineage Point Capital LP 0.69% of their portfolio PALM BEACH, FL 332,348332.3k $3.4m $3.4m 0.69% Unchanged
29 Centiva Capital, LP 0.11% of their portfolio New York, NY 324,999325.0k $3.3m $3.3m 0.11% Unchanged
30 BNP PARIBAS FINANCIAL MARKETS 0.00% of their portfolio PARIS, I0 299,498299.5k $3.0m $3.0m 0.00% Unchanged
31 SONA ASSET MANAGEMENT (US) LLC 0.11% of their portfolio NEW YORK, NY 293,300293.3k $3.0m $3.0m 0.11% Unchanged
32 Shaolin Capital Management LLC 0.15% of their portfolio Miami, FL 267,393267.4k $2.7m $2.7m 0.15% Reduced -32.6k -32,607
33 BERKLEY W R CORP 0.13% of their portfolio Greenwich, CT 261,006261.0k $2.6m $2.6m 0.13% Unchanged
34 Hudson Bay Capital Management LP 0.01% of their portfolio STAMFORD, CT 252,518252.5k $2.6m $2.6m 0.01% Unchanged
35 MILLENNIUM MANAGEMENT LLC 0.00% of their portfolio NEW YORK, NY 200,000200.0k $2.0m $2.0m 0.00% Unchanged
36 BlueCrest Capital Management Ltd 0.09% of their portfolio ST HELIER, Y9 200,000200.0k $2.0m $2.0m 0.09% Unchanged
37 First Trust Capital Management L.P. 0.12% of their portfolio CHICAGO, IL 199,998200.0k $2.0m $2.0m 0.12% Unchanged
38 Clear Street Group Inc. 0.01% of their portfolio NEW YORK, NY 179,561179.6k $1.8m $1.8m 0.01% Reduced -12.0k -12,000
39 DLD Asset Management, LP 0.14% of their portfolio NEW YORK, NY 166,667166.7k $1.7m $1.7m 0.14% Unchanged
40 Context Capital Management, LLC 0.03% of their portfolio LAJOLLA, CA 150,000150.0k $1.5m $1.5m 0.03% Unchanged
41 Governors Lane LP 0.15% of their portfolio NEW YORK, NY 150,000150.0k $1.5m $1.5m 0.15% Unchanged
42 MIZUHO SECURITIES USA LLC 0.01% of their portfolio NEW YORK, NY 142,937142.9k $1.4m $1.4m 0.01% New
43 HEIGHTS CAPITAL MANAGEMENT, INC 0.26% of their portfolio SAN FRANCISCO, CA 113,373113.4k $1.1m $1.1m 0.26% Unchanged
44 CSS LLC/IL 0.04% of their portfolio CHICAGO, IL 100,000100.0k $1.0m $1.0m 0.04% Unchanged
45 WHITEBOX ADVISORS LLC 0.02% of their portfolio MINNEAPOLIS, MN 100,000100.0k $1.0m $1.0m 0.02% Unchanged
46 Davidson Kempner Capital Management LP 0.02% of their portfolio New York, NY 100,000100.0k $1.0m $1.0m 0.02% Unchanged
47 HIGHBRIDGE CAPITAL MANAGEMENT LLC 0.03% of their portfolio NEW YORK, NY 84,33384.3k $853.5k $853.5k 0.03% New
48 TORONTO DOMINION BANK 0.00% of their portfolio TORONTO, ONTARIO, A6 75,00075.0k $759.0k $759.0k 0.00% New
49 Schonfeld Strategic Advisors LLC 0.00% of their portfolio NEW YORK, NY 66,30066.3k $671.0k $671.0k 0.00% Added +16.3k +16,300
50 READYSTATE ASSET MANAGEMENT LP 0.02% of their portfolio CHICAGO, IL 51,89051.9k $525.1k $525.1k 0.02% Unchanged
51 TIG Advisors, LLC 0.02% of their portfolio New York, NY 50,00050.0k $506.0k $506.0k 0.02% Unchanged
52 Logan Stone Capital, LLC 0.08% of their portfolio CHICAGO, IL 35,38735.4k $358.1k $358.1k 0.08% New
53 Virtu Financial LLC 0.01% of their portfolio New York, NY 25,44025.4k $257.0k $257.0k 0.01% Reduced -70.0k -70,008
54 Kryger Capital LLC 0.01% of their portfolio HAMILTON, D0 25,34825.3k $256.5k $256.5k 0.01% Reduced -432 -432
55 Mint Tower Capital Management B.V. 0.03% of their portfolio AMSTERDAM, P7 25,00025.0k $253.0k $253.0k 0.03% Unchanged
56 L1 Global Manager Pty Ltd 0.21% of their portfolio Melbourne, C3 25,00025.0k $253.0k $253.0k 0.21% Unchanged
57 Baird Financial Group, Inc. 0.00% of their portfolio MILWAUKEE, WI 24,15024.1k $244.4k $244.4k 0.00% New
58 PenderFund Capital Management Ltd. 0.03% of their portfolio VANCOUVER, A1 23,45823.5k $237.4k $237.4k 0.03% Added +13.5k +13,458
59 SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.00% of their portfolio BALA CYNWYD, PA 21,40321.4k $216.6k $216.6k 0.00% New
60 Arax Advisory Partners 0.00% of their portfolio NEW YORK, NY 20,04020.0k $202.8k $202.8k 0.00% New
61 ABC ARBITRAGE SA 0.02% of their portfolio PARIS, I0 20,00020.0k $202.4k $202.4k 0.02% Unchanged
62 GEODE CAPITAL MANAGEMENT, LLC 0.00% of their portfolio BOSTON, MA 15,50315.5k $156.9k $156.9k 0.00% Added +1.1k +1,075
63 STATE OF WISCONSIN INVESTMENT BOARD 0.00% of their portfolio MADISON, WI 10,00010.0k $101.2k $101.2k 0.00% Unchanged
64 UBS Group AG 0.00% of their portfolio ZURICH, V8 2,5732.6k $26.0k $26.0k 0.00% Added +1.2k +1,173
65 ROYAL BANK OF CANADA 0.00% of their portfolio TORONTO, A6 967967 $10.0k $10.0k 0.00% Reduced -9.9k -9,873
66 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 4141 $415 $415 0.00% Reduced -24 -24