Magnetar-affiliated Funds Report CoreWeave (CRWV) Sales and Option Collar
Rhea-AI Filing Summary
Magnetar-related entities and David J. Snyderman reported multiple dispositions of CoreWeave, Inc. (CRWV) Class A common stock on 08/15/2025. Reported sales occurred at a weighted average price of $100.15 (individual trades ranged $100.00–$100.15). The Form 4 shows numerous direct disposals by several Magnetar funds and affiliated entities, and states these securities are held indirectly by the reporting entities. The filing also discloses a collar structure: covered call and purchased put options tied to the same underlying shares that expire on 03/20/2026, with specified strikes including $80, $135 and $140.
Positive
- None.
Negative
- Material insider selling by a 10% owner and director across multiple affiliated funds on 08/15/2025 at ~$100.15, which increases freely tradable supply
- Hedging/collar arrangement (written calls and purchased puts expiring 03/20/2026) indicates the holder has limited upside and downside protection on significant positions
Insights
TL;DR: Significant block sales by a 10% owner at ~$100.15 and a collar arrangement may affect short-term supply and liquidity.
The Form 4 documents material, coordinated dispositions by Magnetar-affiliated funds and related entities totaling multiple blocks of Class A shares on 08/15/2025 at a weighted average price of $100.15. The filing identifies indirect ownership across several funds and confirms a collar (written calls and purchased puts) on underlying shares expiring 03/20/2026, which limits downside and caps upside for those positions. For analysts, this is a clear change in beneficial ownership from a substantial holder and should be incorporated into share-ownership tables and liquidity assessments.
TL;DR: A director/10% owner executed multiple sales through affiliated funds and disclosed a hedging collar; disclosure appears complete and compliant.
The Form 4 lists Magnetar Financial, Magnetar Capital Partners, Supernova Management and David J. Snyderman as reporting persons, with clear footnotes assigning direct holdings to specific funds. The filing includes customary disclaimers of beneficial ownership except for pecuniary interest and provides required detail on trade prices and option positions. From a governance perspective, the disclosure of both sales and the collar structure meets Section 16 transparency expectations, allowing shareholders to evaluate potential conflicts or economic exposures.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Sale | Call option (obligation to sell) | 235,802 | $176,851.20 | $41.70B |
| Purchase | Put option (right to sell) | 235,802 | $589,504.00 | $139.01B |
| Sale | Call option (obligation to sell) | 77,050 | $173,363.40 | $13.36B |
| Purchase | Put option (right to sell) | 77,050 | $192,626.00 | $14.84B |
| Sale | Call option (obligation to sell) | 77,050 | $57,787.80 | $4.45B |
| Purchase | Put option (right to sell) | 77,050 | $192,626.00 | $14.84B |
| Sale | Call option (obligation to sell) | 7,967 | $17,924.40 | $142.80M |
| Purchase | Put option (right to sell) | 7,967 | $19,916.00 | $158.67M |
| Sale | Call option (obligation to sell) | 7,966 | $5,974.80 | $47.60M |
| Purchase | Put option (right to sell) | 7,966 | $19,916.00 | $158.65M |
| Sale | Call option (obligation to sell) | 587,701 | $1,322,326.80 | $777.13B |
| Purchase | Put option (right to sell) | 587,701 | $1,469,252.00 | $863.48B |
| Sale | Call option (obligation to sell) | 587,701 | $440,775.60 | $259.04B |
| Purchase | Put option (right to sell) | 587,701 | $1,469,252.00 | $863.48B |
| Sale | Class A Common Stock | 58,796 | $100.15 | $5.89M |
| Sale | Class A Common Stock | 230,737 | $100.15 | $23.11M |
| Sale | Class A Common Stock | 201,183 | $100.15 | $20.15M |
| Sale | Class A Common Stock | 26,376 | $100.15 | $2.64M |
| Sale | Class A Common Stock | 2,727 | $100.15 | $273K |
| Sale | Class A Common Stock | 80,720 | $100.15 | $8.08M |
| Sale | Class A Common Stock | 101,182 | $100.15 | $10.13M |
| Sale | Class A Common Stock | 22,862 | $100.15 | $2.29M |
| Sale | Class A Common Stock | 86,070 | $100.15 | $8.62M |
| Sale | Class A Common Stock | 53,045 | $100.15 | $5.31M |
| Sale | Class A Common Stock | 42,731 | $100.15 | $4.28M |
| Sale | Class A Common Stock | 8,953 | $100.15 | $897K |
| 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 $100.00 to $100.15, 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.
