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CoreWeave, Inc.·4

Mar 20, 8:17 PM ET

Magnetar Financial LLC 4

Research Summary

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CoreWeave (CRWV) 10% Owner Magnetar Financial: Derivative Positions Expire

What Happened
Magnetar Financial LLC, reported as adviser to several Magnetar funds and a 10% owner of CoreWeave (CRWV), recorded the expiration of multiple short derivative positions tied to CoreWeave Class A common stock on March 20, 2026. In total, 1,400,000 underlying shares (sum of listed positions) expired unexercised and for no value ($0), as the options were part of a collar arrangement entered on August 22, 2025 and the stock closed between the call and put strike prices on expiration. These were expirations of derivative contracts (transaction code "E"), not open-market sales or purchases of stock.

Key Details

  • Transaction date: 2026-03-20 (filing date 2026-03-20 — same day).
  • Total underlying shares expired: 1,400,000 (multiple positions listed, each expired for $0.00).
  • Reported transaction type: Expiration of short derivative positions (code E); one footnote references expiration of a long derivative for no value (code K).
  • Reason: Collar options (call and put entered 8/22/2025) expired unexercised because the closing price was between the call and put strike prices (Footnote F1).
  • Holdings: The securities subject to the expired derivatives are held directly by various Magnetar funds (see footnotes F5–F15). Magnetar Financial is the investment adviser to those funds (F2).
  • Shares owned after transaction: Not specified in the provided filing details.
  • Beneficial-ownership note: Magnetar entities and related parties disclaim beneficial ownership except to the extent of pecuniary interest (F4).
  • Filing timeliness: Filed on the same date as the reported expirations (no late filing indicated).

Context
These transactions are expirations of derivative contracts under a collar — no shares changed hands and no cash proceeded from the expirations. This is an institutional/investment-manager action (Magnetar and its funds), not an executive insider sale or purchase; such expirations typically reflect contract terms reaching maturity rather than a direct market sentiment signal.