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Soren Acquisition Corp.: Magnetar group reports 1,750,000 Class A ordinary shares, or 6.65%, beneficially owned as of March 31, 2026. The filing states the holdings are held across Magnetar funds and represent shared voting and dispositive power. The filing cites 6.65% based on approximately 26,300,000 Shares outstanding as disclosed in a Form 10-K referenced in the statement.
The holders named are Magnetar Financial LLC, Magnetar Capital Partners, Supernova Management LLC, and David J. Snyderman. The reporting persons disclose the per‑fund allocation of the total 1,750,000 shares.
Insights
Magnetar reports a 6.65% passive stake across affiliated funds.
The filing lists 1,750,000 shares beneficially owned as of March 31, 2026, split across eight fund accounts with shared voting and dispositive power. The percent is calculated using ~26,300,000 Shares outstanding cited from a referenced Form 10‑K.
Subsequent filings or issuer disclosures would be the source for any changes in ownership or voting arrangements; this statement documents the passive ownership snapshot and organizational chain of control.
Schedule 13G disclosure lists beneficial ownership and chain of advisory/ownership control.
The filing identifies roles: Magnetar Financial as investment adviser exercising voting/investment power, Magnetar Capital Partners as parent, Supernova Management as general partner, and Mr. Snyderman as administrative manager. The statement attaches a Joint Filing Agreement and a Power of Attorney.
Compliance focus: the report cites Rule 13d-3(d)(1)(i) for the percent calculation and provides the per‑account share breakdown, meeting disclosure norms for aggregated beneficial ownership reporting.
Key Figures
Shares beneficially owned:1,750,000 sharesPercent of class:6.65%Shares outstanding (issuer):26,300,000 Shares+2 more
5 metrics
Shares beneficially owned1,750,000 sharesAs of March 31, 2026
Percent of class6.65%Calculated pursuant to Rule 13d-3(d)(1)(i) using Form 10-K figures
Shares outstanding (issuer)26,300,000 SharesReferenced from Form 10-K filed March 24, 2026
Largest single fund allocation402,500 sharesConstellation Master Fund allocation
Shared voting/dispositive power1,750,000 sharesShared power reported for each reporting person
"As of March 31, 2026, each of ... held 1,750,000 Shares"
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.
shared dispositive powerregulatory
"Shared Dispositive Power 1,750,000.00"
Rule 13d-3(d)(1)(i)regulatory
"represent approximately 6.65% ... (calculated pursuant to Rule 13d-3(d)(1)(i))"
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What stake in Soren Acquisition Corp. (SORN) does Magnetar report?
Magnetar reports beneficial ownership of 1,750,000 shares, representing 6.65% of Class A ordinary shares as of March 31, 2026. This percentage uses ~26,300,000 Shares outstanding referenced from a Form 10-K.
Which Magnetar entities filed the Schedule 13G for SORN?
The filing is joint for Magnetar Financial LLC, Magnetar Capital Partners, Supernova Management LLC, and David J. Snyderman, with a Joint Filing Agreement and a Power of Attorney attached to the statement.
How are the 1,750,000 shares allocated among Magnetar funds?
The filing breaks the total into fund allocations: 402,500, 297,500, 367,500, 262,500, 297,500, 17,500, 52,500, and 52,500 shares across eight named fund accounts, totaling 1,750,000 shares.
What voting and dispositive power is reported over these shares?
Each reporting person discloses 0 sole voting/dispositive power and 1,750,000 shared voting and shared dispositive power over the disclosed shares, per the Schedule 13G table.
What source is used to calculate the percent ownership?
The percent (6.65%) is calculated pursuant to Rule 13d-3(d)(1)(i) using the issuer's reported outstanding shares from a Form 10-K filed on March 24, 2026 (~26,300,000 Shares outstanding).
This statement is filed on behalf of each of the following person (collectively, the "Reporting Persons"):
i) Magnetar Financial LLC ("Magnetar Financial");
ii) Magnetar Capital Partners LP ("Magnetar Capital Partners");
iii) Supernova Management LLC ("Supernova Management"); and
iv) David J. Snyderman ("Mr. Snyderman").
This statement relates to the Shares (as defined herein) held for Magnetar Constellation Master Fund, Ltd ("Constellation Master Fund"), Magnetar Xing He Master Fund Ltd ("Xing He Master Fund"), Magnetar Capital Master Fund Ltd ("Capital Master Fund"), all Cayman Islands exempted companies; Magnetar Structured Credit Fund, LP ("Structured Credit Fund"), a Delaware limited partnership; Magnetar Alpha Star Fund LLC ("Alpha Star Fund"), Magnetar Lake Credit Fund LLC ("Lake Credit Fund"), Purpose Alternative Credit Fund - T LLC ("Purpose Alternative Credit Fund - T"), and Magnetar Waterfront Series A LLC ("Waterfront Series A Fund"), all Delaware limited liability companies; collectively (the "Magnetar Funds"). Magnetar Financial serves as the investment adviser to the Magnetar Funds, and as such, Magnetar Financial exercises voting and investment power over the Shares held for the Magnetar Funds' accounts. Magnetar Capital Partners serves as the sole member and parent holding company of Magnetar Financial. Supernova Management is the general partner of Magnetar Capital Partners. The administrative manager of Supernova Management is Mr. Snyderman.
(b)
Address or principal business office or, if none, residence:
The address of the principal business office of each of Magnetar Financial, Magnetar Capital Partners, Supernova Management, and Mr. Snyderman is 1603 Orrington Avenue, 13th Floor, Evanston, Illinois 60201.
(c)
Citizenship:
Place of Organization.
i) Magnetar Financial is a Delaware limited liability company;
ii) Magnetar Capital Partners is a Delaware limited partnership;
iii) Supernova Management is a Delaware limited liability company; and
iv) Mr. Snyderman is a citizen of the United States of America.
(d)
Title of class of securities:
Class A ordinary shares, par value $0.0001
(e)
CUSIP Number(s):
G8274J103
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:
As of March 31, 2026, each of Magnetar Financial, Magnetar Capital Partners, Supernova Management and Mr. Snyderman held 1,750,000 Shares. The amount consists of (A) 402,500 Shares held for the account of Constellation Master Fund; (B) 297,500 Shares held for the account of Lake Credit Fund; (C) 367,500 Shares held for the account of Structured Credit Fund; (D) 262,500 Shares held for the account of Xing He Master Fund; (E) 297,500 Shares held for the account of Alpha Star Fund; (F) 17,500 Shares held for the account of Capital Master Fund; (G) 52,500 shares held for the account of Waterfront Series A Fund; and (H) 52,500 Shares held for the account Purpose Alternative Credit Fund - T.
The Shares held by the Magnetar Funds represent approximately 6.65% of the total number of Shares outstanding (calculated pursuant to Rule 13d-3(d)(1)(i)) of the outstanding shares of the Issuer).
(b)
Percent of class:
As of March 31, 2026, each of the Reporting Persons were deemed to be the beneficial owner constituting approximately 6.65% of the total number of shares outstanding (based upon the information provided by the Issuer in the Form 10-K filed on March 24, 2026 there were approximately 26,300,000 Shares outstanding).
(c)
Number of shares as to which the person has:
(i) Sole power to vote or to direct the vote:
0
(ii) Shared power to vote or to direct the vote:
1,750,000
(iii) Sole power to dispose or to direct the disposition of:
0
(iv) Shared power to dispose or to direct the disposition of:
1,750,000
Item 5.
Ownership of 5 Percent or Less of a Class.
Not Applicable
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.
MAGNETAR FINANCIAL LLC
Signature:
/s/ Hayley Stein
Name/Title:
Name: Hayley Stein, Title: Attorney-in-fact for David J. Snyderman, Administrative Manager of Supernova Management LLC
Date:
05/13/2026
MAGNETAR CAPITAL PARTNERS LP
Signature:
/s/ Hayley Stein
Name/Title:
Name: Hayley Stein, Title: Attorney-in-fact for David J. Snyderman, Administrative Manager of Supernova Management LLC
Date:
05/13/2026
SUPERNOVA MANAGEMENT LLC
Signature:
/s/ Hayley Stein
Name/Title:
Name: Hayley Stein, Title: Attorney-in-fact for David J. Snyderman, Administrative Manager of Supernova Management LLC
Date:
05/13/2026
DAVID J. SNYDERMAN
Signature:
/s/ Hayley Stein
Name/Title:
Name: Hayley Stein, Title: Attorney-in-fact for David J. Snyderman, Administrative Manager of Supernova Management LLC
Date:
05/13/2026
Exhibit Information
99.1 Joint Filing Agreement, dated as of May 13, 2026, among the Reporting Persons.
99.2 Power of Attorney, dated as of December 22, 2022 filed by the Reporting Persons on May 13, 2026.
