Magnetar Entities Report Multiple CRWV Dispositions and Protective Collars
Rhea-AI Filing Summary
Magnetar-related reporting persons disclosed multiple sales of CoreWeave, Inc. (CRWV) Class A common stock on 09/10/2025. Numerous Magnetar entities and affiliates sold blocks of shares at prices in a range from $118.10 to $118.42 (weighted average reported), reducing their reported beneficial holdings across several funds and vehicles. The filing shows related collar derivative positions entered by the holders: written covered calls at a $200 strike and purchased puts at an $82.50 strike, both expiring on 06/18/2026, with matching share counts underlying the options. Reporting entities include Magnetar Financial LLC, Magnetar Capital Partners LP, Supernova Management LLC and David J. Snyderman, identified as a director and a 10% owner group. The form is signed by an attorney-in-fact on 09/11/2025.
Positive
- Disclosure of collar strategy: The filing explicitly shows written covered calls at $200 and purchased puts at $82.50 expiring 06/18/2026, documenting downside protection.
- Complete attribution: Reporting names and relationships (Magnetar entities and David J. Snyderman) and signature attestations are provided, improving transparency.
Negative
- Significant share dispositions: Multiple Magnetar-affiliated entities sold large blocks of CRWV Class A stock on 09/10/2025 at prices between $118.10 and $118.42, reducing reported holdings.
- Potential concentration change: The sales and option activity represent a material change in the composition of Magnetar’s beneficial ownership as reported.
Insights
TL;DR: Magnetar affiliates executed sizable share disposals and hold offsetting collars, which is a material ownership change for CRWV.
The Form 4 discloses multiple sizeable dispositions of Class A shares by Magnetar-affiliated funds on 09/10/2025 at prices reported between $118.10 and $118.42, with remaining beneficial holdings shown for each vehicle. Concurrently, the holders entered collar arrangements: written covered calls at $200 and purchased puts at $82.50, both expiring 06/18/2026, with share counts that mirror the underlying positions. This combination of cash sales and protective option positions is a clear, document-supported change in the ownership and risk profile of Magnetar’s stake in CRWV.
TL;DR: Filing correctly discloses reporting relationships and aggregated ownership across Magnetar entities; signatures are in order.
The Form 4 lists Magnetar Financial LLC, Magnetar Capital Partners LP, Supernova Management LLC and David J. Snyderman and includes explanatory footnotes describing advisory relationships and disclaimers of beneficial ownership except for pecuniary interest. The filing indicates joint reporting by multiple related entities and is signed by an authorized attorney-in-fact on 09/11/2025, satisfying the document’s procedural requirements as presented.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Sale | Call option (obligation to sell) | 91,114 | $1,002,254.00 | $91.32B |
| Purchase | Put option (right to sell) | 91,114 | $1,184,482.00 | $107.92B |
| Sale | Call option (obligation to sell) | 414,002 | $4,554,022.00 | $1885.37B |
| Purchase | Put option (right to sell) | 414,002 | $5,382,026.00 | $2228.17B |
| Sale | Call option (obligation to sell) | 54,277 | $597,047.00 | $32.41B |
| Purchase | Put option (right to sell) | 54,277 | $705,601.00 | $38.30B |
| Sale | Call option (obligation to sell) | 5,612 | $61,732.00 | $346.44M |
| Purchase | Put option (right to sell) | 5,612 | $72,956.00 | $409.43M |
| Sale | Call option (obligation to sell) | 120,993 | $1,330,923.00 | $161.03B |
| Purchase | Put option (right to sell) | 120,993 | $1,572,909.00 | $190.31B |
| Sale | Call option (obligation to sell) | 166,109 | $1,827,199.00 | $303.51B |
| Purchase | Put option (right to sell) | 166,109 | $2,159,417.00 | $358.70B |
| Sale | Call option (obligation to sell) | 208,216 | $2,290,376.00 | $476.89B |
| Purchase | Put option (right to sell) | 208,216 | $2,706,808.00 | $563.60B |
| Sale | Call option (obligation to sell) | 47,045 | $517,495.00 | $24.35B |
| Purchase | Put option (right to sell) | 47,045 | $611,585.00 | $28.77B |
| Sale | Class A Common Stock | 53,819 | $118.39 | $6.37M |
| Sale | Class A Common Stock | 222,734 | $118.42 | $26.38M |
| Sale | Class A Common Stock | 29,201 | $118.42 | $3.46M |
| Sale | Class A Common Stock | 3,019 | $118.42 | $358K |
| Sale | Class A Common Stock | 65,094 | $118.42 | $7.71M |
| Sale | Class A Common Stock | 89,367 | $118.42 | $10.58M |
| Sale | Class A Common Stock | 112,020 | $118.42 | $13.27M |
| Sale | Class A Common Stock | 25,310 | $118.42 | $3.00M |
| Sale | Class A Common Stock | 95,289 | $118.42 | $11.28M |
| Sale | Class A Common Stock | 58,727 | $118.42 | $6.95M |
| Sale | Class A Common Stock | 47,308 | $118.42 | $5.60M |
| Sale | Class A Common Stock | 9,912 | $118.42 | $1.17M |
| holding | Class A Common Stock | -- | -- | -- |
Footnotes (1)
- The price reported in Column 4 is a weighted average price. These securities were sold in multiple transactions at prices ranging from $118.10 to $118.42, 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. Magnetar Financial LLC ("Magnetar Financial") serves as the investment adviser to each of CW Opportunity LLC, CW Opportunity 2 LP, 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, and Longhorn Special Opportunities Fund 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 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 Constellation 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 the Issuer 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.
