Liberty Media (FWONA): Wisconsin fund discloses 4.98% Formula One stake

Rhea-AI Filing Summary

State of Wisconsin Investment Board reported its ownership of Liberty Media Corp Series A Liberty Formula One Common Stock. The investor beneficially owns 1,195,287 shares, representing 4.98% of this class. It has sole power to vote and dispose of all these shares, with no shared voting or dispositive power. The holder indicates that it owns 5 percent or less of the class.

Key Figures

Shares beneficially owned: 1,195,287 shares Percent of class: 4.98% Sole voting power: 1,195,287 shares +3 more

6 metrics

Shares beneficially owned 1,195,287 shares Series A Liberty Formula One Common Stock beneficially owned by State of Wisconsin Investment Board

Percent of class 4.98% Ownership percentage of Series A Liberty Formula One class

Sole voting power 1,195,287 shares Shares over which the holder has sole power to vote or direct the vote

Shared voting power 0 shares Shares over which the holder has shared power to vote or direct the vote

Sole dispositive power 1,195,287 shares Shares over which the holder has sole power to dispose or direct disposition

Shared dispositive power 0 shares Shares over which the holder has shared power to dispose or direct disposition

Key Terms

beneficially owned, sole voting power, sole dispositive power, Ownership of 5 percent or less of a class, +1 more

5 terms

beneficially owned financial

"Amount beneficially owned: See Item 9 of the Cover Pages."

Beneficially owned describes securities or assets where a person has the economic rights and control—such as the right to receive dividends and to direct voting—even if legal title is held in another name. Think of it like having the keys and using a car that’s registered to someone else: you get the benefits and make decisions. Investors care because beneficial ownership reveals who truly controls value and voting power, affecting corporate decisions and takeover dynamics.

sole voting power financial

"Sole Voting Power 1,195,287.00 6 | Shared Voting Power 0.00"

Sole voting power is the exclusive right to cast votes attached to a shareholder’s stock without needing approval from anyone else. Like holding the only remote control for a TV, it lets that holder decide corporate matters such as board members, mergers, and policy changes, making it important to investors because it concentrates control and can strongly influence a company’s strategy and the value of its shares.

sole dispositive power financial

"Sole Dispositive Power 1,195,287.00 8 | Shared Dispositive Power 0.00"

Sole dispositive power is the exclusive legal authority to decide what happens to a security — for example, whether to sell, transfer, or retain shares — without needing anyone else’s permission. Investors care because it signals who truly controls the economic outcome of an investment: like holding the only key to a safe, the holder can realize gains or losses and may trigger regulatory reporting, insider rules, or influence over corporate ownership.

Ownership of 5 percent or less of a class financial

"Item 5. | Ownership of 5 Percent or Less of a Class."

Schedule 13G/A regulatory

"form_type": "SCHEDULE 13G/A""

A Schedule 13G/A is an amended public filing with the U.S. securities regulator that updates a previous Schedule 13G, disclosing when an individual or group holds a substantial (typically over 5%) stake in a company and is claiming a passive, non‑controlling intent. Investors monitor these updates because rising or falling holdings can signal changing confidence, potential future moves, or shifts in voting power — like watching a public ledger where large shareholders quietly adjust their positions.

FAQ

What stake does State of Wisconsin Investment Board report in FWONA?

State of Wisconsin Investment Board reports owning 1,195,287 shares of Liberty Media Series A Liberty Formula One stock, representing 4.98% of the class, with sole voting and dispositive power over all reported shares.

Is the State of Wisconsin Investment Board a 5% owner of FWONA?

The State of Wisconsin Investment Board reports owning 4.98% of the Series A Liberty Formula One class, and explicitly indicates ownership of 5 percent or less of the class, placing it just below the 5% threshold.

How many FWONA shares does State of Wisconsin Investment Board control?

The State of Wisconsin Investment Board beneficially owns and controls 1,195,287 shares of Liberty Media Series A Liberty Formula One stock, all under sole voting and sole dispositive power with no shared authority reported.

Does State of Wisconsin Investment Board share voting power over FWONA?

No. The Board reports 1,195,287 shares with sole voting power and 0 shares with shared voting power, and similarly 0 shares with shared dispositive power over Liberty Media’s Series A Liberty Formula One stock.

Who signed the FWONA ownership report for State of Wisconsin Investment Board?

The report was signed by Lisa Lange, identified as Director of Compliance and Senior Legal Counsel, on 08/14/2026, certifying the disclosed ownership information for the State of Wisconsin Investment Board.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Available on EDGAR 08/14/2026 - 07:06 AM Accepted by SEC EDGAR 08/14/2026 - 07:05 AM Learn about SEC filing dates

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 4)

Liberty Media Corp

(Name of Issuer)

Series A Liberty Formula One Common Stock

(Title of Class of Securities)

531229771

(CUSIP Number)

06/30/2026

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

schemaVersion:

SCHEDULE 13G

CUSIP Number(s): 531229771

1

Names of Reporting Persons

State of Wisconsin Investment Board

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

WISCONSIN

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 1,195,287.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 1,195,287.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

1,195,287.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

4.98 %

12

Type of Reporting Person (See Instructions)

EP

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Liberty Media Corp
(b)	Address of issuer's principal executive offices: 12300 Libery, Boulevard, Englewood, COLORADO 80112
Item 2.
(a)	Name of person filing: State of Wisconsin Investment Board
(b)	Address or principal business office or, if none, residence: 4703 Madison Yards Way, Suite 700, Madison, WI 53705
(c)	Citizenship: Wisconsin
(d)	Title of class of securities: Series A Liberty Formula One Common Stock
(e)	CUSIP No.: 531229771
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: See Item 9 of the Cover Pages.
(b)	Percent of class: See Item 11 of the Cover Pages.
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: See Item 5 of the Cover Pages.
	(ii) Shared power to vote or to direct the vote: See Item 6 of the Cover Pages.
	(iii) Sole power to dispose or to direct the disposition of: See Item 7 of the Cover Pages.
	(iv) Shared power to dispose or to direct the disposition of: See Item 8 of the Cover Pages.
Item 5.	Ownership of 5 Percent or Less of a Class.
	Ownership of 5 percent or less of a class
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	Not Applicable
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under § 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

State of Wisconsin Investment Board

Signature:	Lisa Lange
Name/Title:	Director of Compliance and Senior Legal Counsel
Date:	08/14/2026