Form 4: Magnetar Entities Report Major CoreWeave (CRWV) Sales and Option Collar
Rhea-AI Filing Summary
Magnetar-affiliated reporting persons disclosed multiple sales of CoreWeave, Inc. (CRWV) Class A common stock on 08/18/2025. The Form 4 shows numerous non-derivative dispositions across Magnetar entities and related persons totaling large share blocks at weighted-average prices around $100.78–$100.82. The filers report indirect ownership through various Magnetar funds and entities and disclaim direct beneficial ownership except for pecuniary interest. The filing also discloses a collar arrangement: simultaneous written covered calls and purchased puts that reference identical share blocks and expire 09/18/2026, meaning settlement will occur in shares if an option is in-the-money at expiration.
Positive
- None.
Negative
- Multiple large share dispositions by Magnetar entities on 08/18/2025 at weighted-average prices ~$100.78–$100.82, increasing public float
- Extensive use of collars (written calls and purchased puts expiring 09/18/2026) could result in future share settlement and caps upside while protecting downside
- Concentrated indirect holdings across many Magnetar funds indicate coordinated portfolio actions rather than isolated trades
Insights
TL;DR: Large coordinated sales by Magnetar entities and a collar hedge materially change public float and signal portfolio rebalancing.
The Form 4 documents significant dispositions of Class A shares by Magnetar-affiliated funds on 08/18/2025 at ~ $100.78–$101.60 per share (weighted averages reported). The transactions are reported as indirect holdings across multiple funds, indicating a coordinated sell program rather than a single account trade. The disclosed collar (written calls and purchased puts with 09/18/2026 expiration) hedges downside while capping upside, which is consistent with risk management around concentrated positions. For investors, these sales increase available shares and may pressure secondary-market liquidity near the trade dates; the collar creates potential future share settlement depending on CRWV’s price at expiration.
TL;DR: Proper Section 16 disclosure shows transparency; multiple entities and disclaimers reflect complex ownership structure.
The filing appropriately attributes ownership among Magnetar Financial, Magnetar Capital Partners, Supernova Management and David J. Snyderman and includes standard disclaimers of beneficial ownership except for pecuniary interests. Multiple funds are identified as direct holders for specific tranches, which clarifies where economic exposure resides. The signatures and attorney-in-fact attestations complete procedural requirements. From a governance standpoint, the disclosure is comprehensive and meets Rule 16 reporting requirements, though the pattern of large sales by insiders or related funds can raise stakeholder questions about strategic alignment.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Sale | Call option (obligation to sell) | 257,634 | $3,864,510.00 | $995.63B |
| Purchase | Put option (right to sell) | 257,634 | $4,508,595.00 | $1161.57B |
| Sale | Call option (obligation to sell) | 881,551 | $13,223,265.00 | $11656.98B |
| Purchase | Put option (right to sell) | 881,551 | $15,427,142.50 | $13599.81B |
| Sale | Call option (obligation to sell) | 115,575 | $1,733,625.00 | $200.36B |
| Purchase | Put option (right to sell) | 115,575 | $2,022,562.50 | $233.76B |
| Sale | Call option (obligation to sell) | 11,949 | $179,235.00 | $2.14B |
| Purchase | Put option (right to sell) | 11,949 | $209,107.50 | $2.50B |
| Sale | Call option (obligation to sell) | 353,703 | $5,305,545.00 | $1876.59B |
| Purchase | Put option (right to sell) | 353,703 | $6,189,802.50 | $2189.35B |
| Sale | Call option (obligation to sell) | 443,363 | $6,650,445.00 | $2948.56B |
| Purchase | Put option (right to sell) | 443,363 | $7,758,852.50 | $3439.99B |
| Sale | Call option (obligation to sell) | 100,176 | $1,502,640.00 | $150.53B |
| Purchase | Put option (right to sell) | 100,176 | $1,753,080.00 | $175.62B |
| Sale | Call option (obligation to sell) | 377,144 | $5,657,160.00 | $2133.56B |
| Purchase | Put option (right to sell) | 377,144 | $6,600,020.00 | $2489.16B |
| Sale | Class A Common Stock | 44,201 | $100.78 | $4.45M |
| Sale | Class A Common Stock | 34,986 | $100.82 | $3.53M |
| Sale | Class A Common Stock | 151,243 | $100.78 | $15.24M |
| Sale | Class A Common Stock | 19,829 | $100.78 | $2.00M |
| Sale | Class A Common Stock | 2,050 | $100.78 | $207K |
| Sale | Class A Common Stock | 60,683 | $100.78 | $6.12M |
| Sale | Class A Common Stock | 76,066 | $100.78 | $7.67M |
| Sale | Class A Common Stock | 17,187 | $100.78 | $1.73M |
| Sale | Class A Common Stock | 64,705 | $100.78 | $6.52M |
| Sale | Class A Common Stock | 39,878 | $100.78 | $4.02M |
| Sale | Class A Common Stock | 32,124 | $100.78 | $3.24M |
| Sale | Class A Common Stock | 6,730 | $100.78 | $678K |
| holding | Class A Common Stock | -- | -- | -- |
Footnotes (1)
- Magnetar Financial LLC ("Magnetar Financial") serves as the investment adviser to each of Magnetar Capital Master Fund, Ltd, Magnetar Constellation Master Fund, Ltd, Magnetar Longhorn Fund LP, Magnetar SC Fund Ltd, Magnetar Xing He Master Fund Ltd, Purpose Alternative Credit Fund - F LLC, Purpose Alternative Credit Fund - T LLC, Longhorn Special Opportunities Fund LP, CW Opportunity LLC and CW Opportunity 2 LP, the general partner of Magnetar Structured Credit Fund, LP and the manager of Magnetar Alpha Star Fund LLC and Magnetar Lake Credit Fund LLC (collectively, the "Magnetar Funds"). Magnetar Capital Partners LP ("Magnetar Capital Partners") is the sole member and parent holding company of Magnetar Financial. Supernova Management LLC ("Supernova Management") is the general partner of Magnetar Capital Partners. The manager of Supernova Management is David J. Snyderman, a citizen of the United States of America. Each of the Magnetar Funds, Magnetar Financial, Magnetar Capital Partners, Supernova Management and David J. Snyderman disclaims beneficial ownership of these shares of Common Stock of the Issuer, except to the extent of its or his pecuniary interest therein. These securities are held directly by Magnetar Constellation Master Fund, Ltd. The price reported in Column 4 is a weighted average price. These securities were sold in multiple transactions at prices ranging from $100.78 to $101.60, inclusive. The reporting person undertakes to provide to CoreWeave, Inc. (the "Issuer"), any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in this footnote. These securities are held directly by CW Opportunity 2 LP. These securities are held directly by CW Opportunity LLC. These securities are held directly by Magnetar Alpha Star Fund LLC. These securities are held directly by Magnetar Capital Master Fund, Ltd. These securities are held directly by Magnetar Lake Credit Fund LLC. These securities are held directly by Magnetar Longhorn Fund LP. These securities are held directly by Magnetar SC Fund Ltd. These securities are held directly by Magnetar Structured Credit Fund, LP. These securities are held directly by Magnetar Xing He Master Fund Ltd. These securities are held directly by Purpose Alternative Credit Fund - F LLC. These securities are held directly by Purpose Alternative Credit Fund - T LLC. These securities are held directly by Longhorn Special Opportunities Fund LP. The entity holding the underlying shares of Class A common stock (the "Common Stock") of CoreWeave, Inc. entered into a collar arrangement pursuant to which such entity wrote a covered call option and purchased a put option. Only one of the options can be in-the-money on the expiration date, at which time the in-the-money option will be exercised and settled in shares and the other option will expire. If neither option is in-the-money on the expiration date, both options will expire.
