13F filer · CIK 1352851 ↗
Magnetar Financial LLC
You are looking at Q4 2025. See the latest, Q2 2026 →
Reported value
$10.21B
−38% on the quarter before
Positions
896
468 new · 425 sold out
Top 10
56.4%
of the value
Est. gain
−$4.47B
on stocks held all quarter
Est. return
−37.9%
on those stocks since Q3 2025
Positions as of Dec 31, 2025, from Magnetar Financial LLC's 13F filing with the SEC. A 13F lists a manager's US-listed stocks and options at a quarter end and is filed up to 45 days later, so the fund may hold something else today. It leaves out short positions, cash and holdings outside the US.
Portfolio at a glance
- New
- Added
- Cut
- Same
- Options
Each tile is a position, sized by its share, colored by what the fund did with it since Q3 2025. Striped tiles are options.
Largest buys
Since Q3 2025, by estimated size: the change in shares at the quarter-end price, since a 13F gives no trade prices. Percentages are the position's share of the portfolio, before and after.
- Comerica Inc~$99.1MNew · 0.0% → 1.0%+1,139,969 shares
- Rev Group Inc~$97.8MNew · 0.0% → 1.0%+1,608,032 shares
- Warner Bros Discovery Inc~$91.7MNew · 0.0% → 0.9%+3,183,153 shares
- Kenvue Inc~$90.8MNew · 0.0% → 0.9%+5,263,903 shares
- Avidity Biosciences Inc~$83.6MNew · 0.0% → 0.8%+1,158,603 shares
- Confluent Inc~$79.5MNew · 0.0% → 0.8%+2,630,482 shares
- Exact Sciences Corp~$71.9MNew · 0.0% → 0.7%+708,272 shares
- Csg Sys Intl Inc~$61.7MNew · 0.0% → 0.6%+804,349 shares
- Amicus Therapeutics Inc~$56.5MNew · 0.0% → 0.6%+3,967,915 shares
- Cidara Therapeutics Inc~$51.4MNew · 0.0% → 0.5%+232,537 shares
Largest sells
Since Q3 2025, by estimated size: the change in shares at the quarter-end price, since a 13F gives no trade prices. Percentages are the position's share of the portfolio, before and after.
- CoreWeave~$987.6MCut · 68.0% → 47.8%−13,791,931 shares
- Merus N V~$98.4MSold out · 0.6% → 0.0%−1,045,209 shares
- Kellanova~$93.8MSold out · 0.6% → 0.0%−1,143,169 shares
- Avidxchange Holdings Inc~$84.2MSold out · 0.5% → 0.0%−8,466,957 shares
- Wns Holdings Ltd~$83.8MSold out · 0.5% → 0.0%−1,098,809 shares
- Interpublic Group Cos Inc~$83.4MSold out · 0.5% → 0.0%−2,987,340 shares
- Mr Cooper Group Inc~$82.2MSold out · 0.5% → 0.0%−389,877 shares
- Verona Pharma Plc~$67.0MSold out · 0.4% → 0.0%−628,260 shares
- Steelcase Inc~$59.4MSold out · 0.4% → 0.0%−3,452,916 shares
- Tourmaline Bio Inc~$46.2MSold out · 0.3% → 0.0%−966,129 shares
Holdings
As of Dec 31, 2025. Changes are in shares against Sep 30, 2025, so a price move alone never reads as a buy or a sale.
| Holding | Value | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| CoreWeaveCOM CL A · shares −17% · price −47.7% | 47.8% | $4.88B | −$4.45B | ||||||||
| Chart Inds IncCOM · shares +31% · price +3.0% | 1.0% | $103.4M | +$2.3M | ||||||||
| Air Lease CorpCL A · shares +0.5% · price +0.9% | 1.00% | $101.9M | +$916,102 | ||||||||
| Txnm Energy IncCOM · shares +0.6% · price +4.1% | 0.98% | $100.0M | +$3.9M | ||||||||
| Norfolk Southn CorpCOM · shares −4.0% · price −3.9% | 0.97% | $99.3M | −$4.0M | ||||||||
| Comerica IncCOM · shares New | 0.97% | $99.1M | — | ||||||||
| Rev Group IncCOM · shares New | 0.96% | $97.8M | — | ||||||||
| Warner Bros Discovery IncCOM SER A · shares New | 0.90% | $91.7M | — | ||||||||
| Kenvue IncCOM · shares New | 0.89% | $90.8M | — | ||||||||
| Teck Resources LtdCL B · shares +126% · price +9.1% | 0.88% | $90.1M | +$3.3M | ||||||||
| Frontier Communications PareCOM · shares +5.1% · price +1.9% | 0.87% | $89.2M | +$1.6M | ||||||||
| Cyberark Software LtdSHS · shares −5.6% · price −7.7% | 0.87% | $89.0M | −$7.4M | ||||||||
| Tegna IncCOM · shares +5.2% · price −4.5% | 0.83% | $84.5M | −$3.8M | ||||||||
| Proassurance CorpCOM · shares +15% · price +0.7% | 0.82% | $84.2M | +$514,450 | ||||||||
| Avidity Biosciences IncCOM · shares New | 0.82% | $83.6M | — | ||||||||
| Confluent IncCLASS A COM · shares New | 0.78% | $79.5M | — | ||||||||
| Trip Com Group LtdNOTE 0.750% 6/1 · shares +5.0% · price −3.4% | 0.75% | $76.8M | — | ||||||||
| Exact Sciences CorpCOM · shares New | 0.70% | $71.9M | — | ||||||||
| AlibabaNOTE 0.500% 6/0 · shares −34% · price −15.5% | 0.66% | $67.2M | — | ||||||||
| Csg Sys Intl IncCOM · shares New | 0.60% | $61.7M | — | ||||||||
| Jd.Com IncNOTE 0.250% 6/0 · shares +8.3% · price −7.0% | 0.58% | $58.7M | — | ||||||||
| Staar Surgical CoCOM PAR $0.01 · shares +105% · price −14.1% | 0.56% | $57.1M | −$4.6M | ||||||||
| Amicus Therapeutics IncCOM · shares New | 0.55% | $56.5M | — | ||||||||
| Anywhere Real Estate IncCOM · shares +93% · price +33.7% | 0.55% | $56.0M | +$7.3M | ||||||||
| Shift4 Pmts Inc6 SER A CNV PREF · shares +28% · price −15.8% | 0.54% | $54.8M | −$8.0M | ||||||||
| Total · 896 positions | 100% | $10.21B | −$4.47B |
Price is a stock's reported value over its shares at the quarter end. The estimated gain is the shares held at both quarter ends times the change in that price: shares bought or sold during the quarter add nothing, options are left out, and a stock split is read into the earlier share count and price.
What made money
From Q3 2025 to Q4 2025: 415 stocks held throughout, down $4.47B (−37.9%).
- Anywhere Real Estate Inc+$7.3M+34%
- Txnm Energy Inc+$3.9M+4%
- Teck Resources Ltd+$3.3M+9%
- International Mny Express In+$2.6M+10%
- Chart Inds Inc+$2.3M+3%
- Cyberark Software Ltd−$7.4M−8%
- Shift4 Pmts Inc−$8.0M−16%
- Wheeler Real Estate Invt Tr−$9.2M−36%
- Liberty Broadband Corp−$10.9M−24%
- CoreWeave−$4.45B−48%
Estimated as in the holdings table: shares held at both quarter ends times the change in price; options left out.
Reported value by quarter
The total value of each quarter's 13F at that quarter end. It moves with prices as well as with buying and selling. Pick a quarter to see what the fund held then.
Every quarter's filing
| Quarter | Reported value | Filing | |
|---|---|---|---|
| Q2 2026 | Aug 14, 2026 | $10.96B+11% | SEC ↗ |
| Q1 2026 | May 13, 2026 | $9.84B−4% | SEC ↗ |
| Q4 2025 | Feb 17, 2026 | $10.21B−38% | SEC ↗ |
| Q3 2025 | Nov 13, 2025 | $16.50B−20% | SEC ↗ |
| Q2 2025 | Aug 12, 2025 | $20.65B+171% | SEC ↗ |
| Q1 2025 | May 15, 2025 | $7.61B+75% | SEC ↗ |
| Q4 2024 | Feb 11, 2025 | $4.36B−6% | SEC ↗ |
| Q3 2024 | Nov 13, 2024 | $4.62B−4% | SEC ↗ |
| Q2 2024 | Aug 14, 2024 | $4.80B+7% | SEC ↗ |
| Q1 2024 | May 15, 2024 | $4.47B+13% | SEC ↗ |
| Q4 2023 | Feb 13, 2024 | $3.94B+1% | SEC ↗ |
| Q3 2023 | Nov 14, 2023 | $3.92B−14% | SEC ↗ |
| Q2 2023 | Aug 11, 2023 | $4.56B−11% | SEC ↗ |
| Q1 2023 | May 15, 2023 | $5.13B−13% | SEC ↗ |
| Q4 2022 | Feb 14, 2023 | $5.91B−18% | SEC ↗ |
| Q3 2022 | Nov 14, 2022 | $7.21B−25% | SEC ↗ |
| Q2 2022 | Aug 15, 2022 | $9.67B+3% | SEC ↗ |
| Q1 2022 | May 16, 2022 | $9.37B−6% | SEC ↗ |
| Q4 2021 | Feb 14, 2022 | $9.96B+1% | SEC ↗ |
| Q3 2021 | Jan 14, 2022 (amended) | $9.82B−7% | SEC ↗ |
| Q2 2021 | Aug 6, 2021 | $10.56B+2% | SEC ↗ |
| Q1 2021 | May 14, 2021 | $10.40B+47% | SEC ↗ |
| Q4 2020 | Feb 12, 2021 | $7.08B+25% | SEC ↗ |
| Q3 2020 | Nov 16, 2020 | $5.66B+67% | SEC ↗ |
| Q2 2020 | Aug 14, 2020 | $3.39B−18% | SEC ↗ |
| Q1 2020 | May 15, 2020 | $4.15B−13% | SEC ↗ |
| Q4 2019 | Feb 13, 2020 | $4.79B+22% | SEC ↗ |
| Q3 2019 | Nov 14, 2019 | $3.93B−21% | SEC ↗ |
| Q2 2019 | Aug 14, 2019 | $5.00B+29% | SEC ↗ |
| Q1 2019 | May 15, 2019 | $3.89B−5% | SEC ↗ |
| Q4 2018 | Feb 14, 2019 | $4.08B−26% | SEC ↗ |
| Q3 2018 | Feb 14, 2019 (amended) | $5.54B−16% | SEC ↗ |
| Q2 2018 | Aug 14, 2018 (amended) | $6.56B+13% | SEC ↗ |
| Q1 2018 | May 15, 2018 (amended) | $5.80B+3% | SEC ↗ |
| Q4 2017 | Feb 14, 2018 (amended) | $5.62B+2% | SEC ↗ |
| Q3 2017 | Nov 14, 2017 (amended) | $5.52B−15% | SEC ↗ |
| Q2 2017 | Aug 14, 2017 (amended) | $6.52B−7% | SEC ↗ |
| Q1 2017 | May 15, 2017 (amended) | $7.02B+1,897% | SEC ↗ |
| Q4 2016 | Aug 14, 2017 (amended) | $351.5M−95% | SEC ↗ |
| Q3 2016 | Nov 14, 2016 (amended) | $7.03B+17% | SEC ↗ |
| Q2 2016 | Aug 15, 2016 (amended) | $6.02B−7% | SEC ↗ |
| Q1 2016 | May 16, 2016 (amended) | $6.49B | SEC ↗ |