Magnetar Financial LLC 4

What Happened

• Magnetar Financial LLC (reported as a 10% owner via affiliated funds) reported that multiple short derivative positions tied to CoreWeave, Inc. (CRWV) expired unexercised on March 20, 2026. The filing shows a total of 1,200,000 underlying shares associated with those expired positions, all reported as disposed for $0 (no cash changed hands).
• These expirations reflect options that were part of a collar entered into on August 28, 2025; both the call and put expired worthless because CoreWeave’s closing price on March 20, 2026 was between the call and put strike prices. This is an expiration of derivative contracts, not an open-market sale of underlying stock.

Key Details

• Transaction date: March 20, 2026. Transaction code: E (expiration of short derivative position). Report filed March 20, 2026 (same day).
• Aggregate underlying shares affected: 1,200,000 shares. Reported value: $0 (options expired unexercised/no value).
• Holdings: The Form 4 lists the expired derivative positions held directly by multiple Magnetar funds (see footnotes: CW Opportunity LLC; Magnetar Alpha Star Fund LLC; Magnetar Capital Master Fund, Ltd; Magnetar Constellation Master Fund, Ltd; Magnetar Longhorn Fund LP; Magnetar SC Fund Ltd; Magnetar Xing He Master Fund Ltd; Magnetar Lake Credit Fund LLC; Purpose Alternative Credit Fund – F LLC; Purpose Alternative Credit Fund – T LLC). Magnetar Financial is adviser to these funds; parent/related entities disclaim beneficial ownership except for pecuniary interest (per footnotes).
• Filing timeliness: Reported and filed on the same date (not marked late).

Context

• For retail investors: expirations for no value mean the derivative contracts simply lapsed — there was no purchase or sale of the underlying shares through this action and no cash proceeds. This was an institutional derivative result (collar expiration), not an executive insider buying or selling stock. Purchases are generally more indicative of bullish sentiment; expirations like this are largely administrative/contractual.