State of Wisconsin Investment Board’s Tourmaline Bio TRML Stock Holding History

State of Wisconsin Investment Board’s Portfolio TRML Stock Details TRML Fund Activity

Bought

Maintained

Sold

Quarter	Market Value	Status	Shares	Change in Stake	Trade Value	Portfolio Weight	Portfolio Position
2025 Q3	–	Sell	-19,822	Closed	-$317K	–	2526
2025 Q2	$317K	Buy	19,822 +900	+5%	+$14.6K	﹤0.01%	2044
2025 Q1	$288K	Buy	18,922 +1,129	+6%	+$18.1K	﹤0.01%	1980
2024 Q4	$361K	Buy	+17,793	New	+$448K	﹤0.01%	1940
2024 Q3	–	Sell	-11,686	Closed	-$150K	–	2366
2024 Q2	$150K	Sell	11,686 -297	-2%	-$4.78K	﹤0.01%	2186
2024 Q1	$274K	Buy	+11,983	New	+$423K	﹤0.01%	1976
2022 Q2	–	Sell	-1,150	Closed	-$113K	–	2873
2022 Q1	$113K	Hold	1,150	–	–	﹤0.01%	2215
2021 Q4	$176K	Hold	1,150	–	–	﹤0.01%	2098
2021 Q3	$156K	Buy	+1,150	New	+$157K	﹤0.01%	2089

Other funds holding TRML

ACA

Avoro Capital Advisors New York $10.2B AUM 149.19% 1-Year Est. Return

QVT Financial New York $1.37B AUM 148.1% 1-Year Est. Return

BlackRock New York $6.73T AUM 46.02% 1-Year Est. Return

TCM

TCG Crossover Management Palo Alto, California $3.5B AUM 1,165.83% 1-Year Est. Return

Pfizer New York $239M AUM 232.47% 1-Year Est. Return

Vanguard Group Malvern, Pennsylvania $6.9T AUM 27.45% 1-Year Est. Return

Fidelity International Hamilton, Bermuda $129B AUM 30.83% 1-Year Est. Return

Magnetar Financial Evanston, Illinois $9.84B AUM 190.63% 1-Year Est. Return

QUSVM

Qiming U.S. Ventures Management Bellevue, Washington $55.6M AUM 98.09% 1-Year Est. Return

FTCM

First Trust Capital Management Chicago, Illinois $1.9B AUM 58.28% 1-Year Est. Return

State of Wisconsin Investment Board's TRML Position: Q3 2025 in Review

State of Wisconsin Investment Board sold out of Tourmaline Bio (TRML) in Q3 2025, closing a stake of 19,822 shares — an estimated $317K sold.

State of Wisconsin Investment Board first reported a position in TRML in Q3 2021 and held it in 8 quarters. The position peaked at $361K in Q4 2024. 134 funds tracked by Wall St. Rank hold TRML as of Q3 2025.

State of Wisconsin Investment Board reported no remaining Tourmaline Bio position as of Q3 2025 after selling out during the quarter.
State of Wisconsin Investment Board sold 19,822 Tourmaline Bio shares in Q3 2025, an estimated $317K.
State of Wisconsin Investment Board first reported a position in Tourmaline Bio in Q3 2021 and held it in 8 quarters.
State of Wisconsin Investment Board's Tourmaline Bio position peaked at $361K in Q4 2024.
134 funds tracked by Wall St. Rank held Tourmaline Bio as of Q3 2025.

Based on State of Wisconsin Investment Board's 13F filing for Q3 2025, filed 14 Nov 2025.